US-based multinational retailer Costco Wholesale has recorded net sales of $237.71bn in fiscal year (FY) 2023, an increase of 6.7% from $222.73bn in FY22.

The retailer’s comparable sales for the FY grew by 3.0%, driven by positive performance in the US and Canada, where comparable sales grew by 3.3% and 1.,7% respectively.

E-commerce sales declined 5.7% in FY23.

For the 53-week ending 3 September 2023, net income attributable to Costco was $6.29bn, up from $5.84bn in FY22.

Its diluted earnings per share (EPS) was $14.16 in FY23 against $13.14 in FY22.

The retailer’s operating income for the fiscal was $8.11bn over the FY, compared with $7.79bn a year ago.                 

In the fourth quarter (Q4) of FY23, Costco delivered $77.43bn in net sales, up 9.4% from $70.76bn in the 16-week Q4 FY22.

The company’s comparable sales for the quarter grew 1.1%, while e-commerce comparable sales declined 0.8%.

Costco delivered net income of $2.16bn in Q4 FY23, an increase from $1.86bn in the 16-week Q4 last year.

Its diluted EPS for the 17-week period were $4.86 in Q4 FY2, against $4.20 in the prior year's quarter.

The retailer generated operating income of $2.78bn over the quarter, up from $2.49bn in Q4 FY22.                          

Costco operates a network of 861 warehouses, including 591 in the US and Puerto Rico, 107 in Canada and the remaining in Australia, China, France, Iceland, Japan, Korea, Mexico, New Zealand, Spain, Sweden, Taiwan and the UK.

The retailer also operates e-commerce sites in Australia, Canada, Japan, Korea, Mexico, Taiwan, the UK and the US.