E-commerce sales were up 75% for the quarter

ISSAQUAH, Wash. — Costco Wholesale Corp. posted net sales of $43.89 billion, a gain of 14.7%, for the second quarter ended February 14.

Comparable store sales for the 12-week period increased 12.6% (excluding impacts from changes in gasoline prices and foreign exchange rates) in the United States, and 12.9% for the company as a whole.

Net sales for the first 24 weeks increased 15.8%, to $86.23 billion, from $74.49 billion last year.

Costco’s e-commerce sales were up 74.8% (adjusted) for the quarter and 79.7% for the year-to-date period.

Net income for the quarter was $951 million, or $2.14 per diluted share, which includes $246 million pretax, or $0.41 per diluted share, in costs incurred primarily from COVID-19 premium wages. Last year’s second-quarter net income was $931 million, or $2.10 per diluted share. Net income for the first 24 weeks was $2.12 billion, or $4.76 per diluted share, compared to $1.77 billion, or $4.00 per diluted share, last year.

For the four-week reporting month of February, ended February 28, the company reported net sales of $14.05 billion, an increase of 15.2% from $12.20 billion last year. For the twenty-six week period ended February 28, net sales were $93.16 billion, an increase of 15.4% from $80.76 billion last year.