Costco Wholesale Corporation Reports Third Quarter and Year-To-Date Operating Results For Fiscal 2026

GlobeNewswire | Costco Wholesale Corporation
Today at 8:15pm UTC

ISSAQUAH, Wash., May 28, 2026 (GLOBE NEWSWIRE) -- Costco Wholesale Corporation (“Costco” or the “Company”) (Nasdaq: COST) today announced its operating results for the third quarter (twelve weeks) and the first 36 weeks of fiscal 2026, ended May 10, 2026.

Net sales for the quarter increased 11.6 percent, to $69.15 billion, from $61.96 billion last year. Net sales for the first 36 weeks increased 9.6 percent, to $203.37 billion, from $185.48 billion last year.

Comparable sales for the third quarter and first 36 weeks of fiscal 2026 were as follows:

 12 Weeks 12 Weeks 36 Weeks 36 Weeks
   Adjusted*   Adjusted*
U.S.9.4% 6.8% 7.1% 6.4%
Canada10.7% 6.2% 9.1% 7.6%
Other International11.2% 5.9% 11.0% 6.6%
        
Total Company9.8% 6.6% 7.9% 6.6%
        
Digitally-Enabled21.5% 20.8% 21.6% 21.1%
        

*Excluding the impacts from changes in gasoline prices and foreign exchange.

Net income for the quarter was $2.19 billion, $4.93 per diluted share, compared to $1.90 billion, $4.28 per diluted share, last year. Net income for the first 36 weeks was $6.23 billion, $14.01 per diluted share, compared to $5.49 billion, $12.34 per diluted share, last year.

Costco currently operates 931 warehouses, including 639 in the United States and Puerto Rico, 115 in Canada, 43 in Mexico, 37 in Japan, 29 in the United Kingdom, 20 in Korea, 15 in Australia, 14 in Taiwan, seven in China, five in Spain, three in France, two in Sweden, and one each in Iceland, and New Zealand. Costco also operates e-commerce sites in the U.S., Canada, the U.K., Mexico, Korea, Taiwan, Japan, Australia, and China.

A conference call to discuss these results is scheduled for 2:00 p.m. (PT) today, May 28, 2026, and is available via a webcast on investor.costco.com (click on “Events & Presentations”).

Certain statements contained in this document constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. For these purposes, forward-looking statements are statements that address activities, events, conditions or developments that the Company expects or anticipates may occur in the future. In some cases forward-looking statements can be identified because they contain words such as “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “intend,” “likely,” “may,” “might,” “plan,” “potential,” “predict,” “project,” “seek,” “should,” “target,” “will,” “would,” or similar expressions and the negatives of those terms. Such forward-looking statements involve risks and uncertainties that may cause actual events, results or performance to differ materially from those indicated by such statements. These risks and uncertainties include, but are not limited to, domestic and international economic conditions, including exchange rates, inflation or deflation, the effects of competition and regulation, uncertainties in the financial markets, consumer and small business spending patterns and debt levels, breaches of security or privacy of member or business information, conditions affecting the acquisition, development, ownership or use of real estate, capital spending, actions of vendors, rising costs associated with employees (generally including health-care costs and wages), workforce interruptions, energy and certain commodities, geopolitical conditions (including tariffs and global conflicts), the ability to maintain effective internal control over financial reporting, regulatory and other impacts related to environmental and social matters, public-health related factors, and other risks identified from time to time in the Company’s public statements and reports filed with the Securities and Exchange Commission. Forward-looking statements speak only as of the date they are made, and the Company does not undertake to update these statements, except as required by law. Comparable sales and comparable sales excluding impacts from changes in gasoline prices and foreign exchange are intended as supplemental information and are not a substitute for net sales presented in accordance with U.S. GAAP.

CONTACTS:Costco Wholesale Corporation
 Josh Dahmen, 425/313-8254
 Andrew Yoon, 425/313-6305
 Bryan Starnes, 425/427-7403
  

COST-Earn

COSTCO WHOLESALE CORPORATION
CONDENSED CONSOLIDATED STATEMENTS OF INCOME
 (dollars in millions, except per share data) (unaudited)
    
 12 Weeks Ended 36 Weeks Ended
 May 10, 2026 May 11, 2025 May 10, 2026 May 11, 2025
REVENUE       
Net sales        $69,154  $61,965  $203,374  $185,480 
Membership fees         1,373   1,240   4,057   3,599 
Total revenue         70,527   63,205   207,431   189,079 
OPERATING EXPENSES       
Merchandise costs         61,519   54,996   180,748   164,849 
Selling, general and administrative         6,193   5,679   18,799   17,188 
Operating income         2,815   2,530   7,884   7,042 
OTHER INCOME (EXPENSE)       
Interest expense         (32)  (35)  (100)  (108)
Interest income and other, net         155   85   458   374 
INCOME BEFORE INCOME TAXES 2,938   2,580   8,242   7,308 
Provision for income taxes         746   677   2,014   1,819 
NET INCOME        $2,192  $1,903  $6,228  $5,489 
        
NET INCOME PER COMMON SHARE:       
Basic        $4.94  $4.29  $14.03  $12.36 
Diluted        $4.93  $4.28  $14.01  $12.34 
        
Shares used in calculation (000s):       
Basic         443,923   443,958   443,943   443,976 
Diluted         444,430   444,762   444,455   444,846 
        


COSTCO WHOLESALE CORPORATION
CONDENSED CONSOLIDATED BALANCE SHEETS
(amounts in millions, except par value and share data) (unaudited)
Subject to Reclassification   
 May 10,
2026
 August 31,
2025
ASSETS   
CURRENT ASSETS   
Cash and cash equivalents        $18,946  $14,161 
Short-term investments         1,050   1,123 
Receivables, net         3,750   3,203 
Merchandise inventories         19,418   18,116 
Other current assets         2,013   1,777 
Total current assets         45,177   38,380 
OTHER ASSETS   
Property and equipment, net         34,293   31,909 
Operating lease right-of-use assets         2,747   2,725 
Other long-term assets         4,213   4,085 
TOTAL ASSETS        $86,430  $77,099 
LIABILITIES AND EQUITY   
CURRENT LIABILITIES   
Accounts payable        $22,363  $19,783 
Accrued salaries and benefits         5,218   5,205 
Accrued member rewards         2,948   2,677 
Deferred membership fees         3,157   2,854 
Other current liabilities         8,439   6,589 
Total current liabilities         42,125   37,108 
OTHER LIABILITIES   
Long-term debt, excluding current portion         5,670   5,713 
Long-term operating lease liabilities         2,466   2,460 
Other long-term liabilities         2,660   2,654 
TOTAL LIABILITIES         52,921   47,935 
COMMITMENTS AND CONTINGENCIES   
EQUITY   
Preferred stock $0.005 par value; 100,000,000 shares authorized; no shares issued and outstanding             
Common stock $0.005 par value; 900,000,000 shares authorized; 443,514,000 and 443,237,000 shares issued and outstanding         2   2 
Additional paid-in capital         8,683   8,282 
Accumulated other comprehensive loss         (1,658)  (1,770)
Retained earnings         26,482   22,650 
TOTAL EQUITY         33,509   29,164 
TOTAL LIABILITIES AND EQUITY        $86,430  $77,099 
      


COSTCO WHOLESALE CORPORATION
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
 (amounts in millions) (unaudited)
Subject to Reclassification 
 36 Weeks Ended
 May 10,
2026
 May 11,
2025
CASH FLOWS FROM OPERATING ACTIVITIES   
Net income        $6,228  $5,489 
Adjustments to reconcile net income to net cash provided by operating activities:   
Depreciation and amortization         1,791   1,652 
Non-cash lease expense         221   208 
Stock-based compensation         771   720 
Other non-cash operating activities, net         36   (15)
Changes in working capital         2,086   1,414 
Net cash provided by operating activities         11,133   9,468 
CASH FLOWS FROM INVESTING ACTIVITIES   
Additions to property and equipment         (4,228)  (3,532)
Purchases of short-term investments         (480)  (573)
Maturities of short-term investments         544   786 
Other investing activities, net         4   (24)
Net cash used in investing activities         (4,160)  (3,343)
CASH FLOWS FROM FINANCING ACTIVITIES   
Repayments of short-term borrowings         (390)  (635)
Proceeds from short-term borrowings         459   616 
Repayments of long-term debt         (69)   
Tax withholdings on stock-based awards         (361)  (392)
Repurchases of common stock         (603)  (623)
Cash dividend payments         (1,154)  (1,030)
Financing lease payments and other financing activities, net         (57)  (118)
Net cash used in financing activities         (2,175)  (2,182)
EFFECT OF EXCHANGE RATE CHANGES ON CASH AND CASH EQUIVALENTS         (13)  (13)
Net change in cash and cash equivalents         4,785   3,930 
CASH AND CASH EQUIVALENTS BEGINNING OF YEAR         14,161   9,906 
CASH AND CASH EQUIVALENTS END OF PERIOD        $18,946  $13,836