Strong Net Income and Sales Growth
Net income for the first quarter was $2.001 billion or $4.5 per diluted share, up from $1.798 billion or $4.04 per diluted share the previous year. Net sales increased by 8.2% to $65.98 billion from $60.99 billion in the first quarter of the previous year.
Digital Sales Surge
Digitally enabled comparable sales increased by 20.5%, with site traffic up 24% and app traffic up 48%, indicating strong growth in Costco's digital engagement.
Membership Fee Income Growth
Membership fee income increased by 14% year over year to $1.329 billion, driven by membership growth and upgrades to executive membership.
Successful New Warehouse Openings
Eight new warehouses were opened, bringing the total to 921 worldwide, with fiscal year 2025 openings generating an annualized $192 million per warehouse of sales.