Costco Wholesale Corporation (Nasdaq: COST) unveiled its operating results for the first quarter of fiscal year 2026, which concluded on November 23, 2025. The company reported robust net sales of $65.98 billion, marking an 8.2% increase from the $60.99 billion reported during the same period last year.

In a notable performance, Costco's net income for the quarter reached $2.001 billion, translating to $4.50 per diluted share. This represents a significant improvement compared to last year's net income of $1.798 billion, or $4.04 per diluted share. This year’s results included a tax benefit of $72 million ($0.16 per diluted share) related to stock-based compensation, compared to a $100 million ($0.22 per diluted share) tax benefit last year.

2. Comparable Sales Performance

Costco's comparable sales for the first quarter of fiscal 2026 showed solid results across different regions:

U.S.: 5.9%

Canada: 6.5% (adjusted 9.0%)

Other International Markets: 8.8% (adjusted 6.8%)

Total Company: 6.4% (adjusted)

Notably, digitally-enabled sales surged by 20.5%, showcasing the growing importance of e-commerce in Costco's operational strategy.

3. Expanding Warehouse Footprint

As of the end of the first quarter, Costco operated a total of 923 warehouses globally. The breakdown includes:

633 in the United States and Puerto Rico

114 in Canada

42 in Mexico

37 in Japan

29 in the United Kingdom

20 in Korea

15 in Australia

14 in Taiwan

7 in China

5 in Spain

3 in France

2 in Sweden

1 each in Iceland and New Zealand

In addition to its physical locations, Costco has expanded its e-commerce presence across multiple countries, including the U.S., Canada, the U.K., Mexico, Korea, Taiwan, Japan, and Australia.

4. Financial Highlights

The consolidated statements of income revealed the following key figures for the quarter ended November 23, 2025:

Net Sales: $65.98 billion

Membership Fees: $1.329 billion (up from $1.166 billion last year)

Total Revenue: $67.307 billion (up from $62.151 billion last year)

Operating Income: $2.463 billion (up from $2.196 billion last year)

Costco's total assets reached $82.79 billion, with total liabilities at $52.49 billion, indicating a healthy balance sheet. The company also reported a cash and cash equivalents balance of $16.217 billion, a significant increase from $14.161 billion at the end of the previous quarter.

5. Future Outlook and Investor Call

A conference call is scheduled for 2:00 p.m. (PT) today, December 11, 2025, to discuss these results in detail. Investors and analysts can access the call via a webcast available on Costco’s investor relations website.

While the company has reported strong results, it also acknowledges the potential risks and uncertainties that may impact future performance, including economic conditions, competitive pressures, and regulatory challenges.

Costco’s impressive first-quarter results reflect its effective operational strategies and the growing consumer demand for its products, further solidifying its position as a leader in the retail sector.

Original press release