Costco Wholesalers Corporation (NASDAQ: COST) has announced net sales of $22.78 billion for June 2022, for the five weeks ending July 3, 2022. The reported sales were up 20.4% YoY from a year ago.
Costco reported revenue of $1188.34 billion for 44 weeks ending July 3
Assistant VP of finance and investor relations David Sherwood stated, “This year’s five-week June retail month had one additional shopping day in the U.S. versus last year due to the timing of Independence Day. This benefited total company total and comparable sales by approximately 2% and U.S. total and comparable sales by approximately 3%.”
The company recorded net revenues of $188.34 billion for the forty-four weeks that ended on July 3, 2022, up 16.9% from $161.09 billion for the same period in 2021. Due to the scheduling of Independence Day, the five-week June sales month this year had an extra shopping day in the United States compared to the previous year. Overall, company overall and similar sales increased by around 2% as a result, while US total and similar sales increased by about 3%.
The company also announced a quarterly cash dividend of $0.9 per share per Costco’s common share. Shareholders that will be on record on July 29, 2022, will be eligible to receive the dividend on August 12, 2022.
Costco made a $1.05 billion acquisition through a wholly owned subsidiary of Costco Taiwan
Recently Costco announced the completion of a $1.05 billion acquisition by its wholly-owned affiliate of the 45% owned Costco Taiwan, which is a joint venture from the company’s long-time joint ventures partners. The firm currently wholly owns Costco, Taiwan. It is expected that the purchase will be around one to one and one and a half percent accretive to the company’s earnings per share.
Currently, Costco runs 833 stores, 574 of which are located in Puerto Rico and the US, 40 in Mexico, 107 in Canada, 29 in the United Kingdom, 31 in Japan, 16 in Korea, 14 in Taiwan, 13 in Australia, 4 in Spain, 2 in France, and 1 in China.