Costco Wholesale Corporation operates as a leading global retailer offering membership-based warehouse club services. For the third quarter of fiscal year 2025, Costco reported net income of $1.90 billion, or $4.28 per diluted share, which represented a 13.2% increase from $1.68 billion, or $3.78 per diluted share, during the same quarter last year. This growth was underpinned by strong sales and margin performance, albeit impacted by a $130 million LIFO charge and a $40 million catch-up accrual due to an increase in employee benefits.

Net sales for the quarter were $61.96 billion, up 8.0% from $57.39 billion a year earlier. U.S. comparable sales climbed 6.6%, while excluding gas devaluation, they increased by 7.9%. Canadian comparable sales grew 2.9%, and when adjusted for gas devaluation and foreign exchange effects, they were up 7.8%. Other international markets saw comparable sales improve by 3.2%, with an adjusted figure of 8.5%, resulting in total company comparable sales growth of 5.7% or 8.0% when adjusted. E-commerce sales surged by 14.8% or 15.7% adjusted for currency fluctuations.

Total membership fee income rose to $1.24 billion, a 10.4% increase year-over-year, which translates to an 11.4% rise excluding foreign exchange impacts. The renewal rate for U.S. and Canada members was reported at 92.7%, with a worldwide rate of 90.2%. As of the end of the quarter, Costco had 79.6 million paid household members, marking a 6.8% increase year-over-year, alongside 142.8 million total cardholders, up 6.6%.

Gross margin for the third quarter stood at 11.25%, reflecting a 41 basis point year-over-year increase and a 29 basis point improvement when excluding the negative impact of gas prices. Selling, General and Administrative (SG&A) expenses increased to 9.16%, or by 20 basis points compared to the prior year, largely due to higher employee wages as well as a catch-up accrual for vacation days.

Costco’s operating income for the quarter was reported at $2.53 billion, an increase from $2.20 billion recorded in the previous year. Cash flow from operations totaled $9.47 billion year-to-date, compared to $8.38 billion the previous year. Capital expenditures for the quarter amounted to approximately $1.13 billion, with the full-year estimate projected to exceed $5 billion.

As of May 11, 2025, Costco operated a total of 905 warehouses worldwide. The company plans to open 27 new warehouses for the fiscal year, comprising 24 net new openings, while also relocating three existing sites. The warehouse locations are distributed across several countries, contributing to Costco’s global presence.