Costco Q2 2021 Earnings Report
Key Takeaways
Costco's second quarter net sales increased by 14.7% to $43.89 billion. Net income for the quarter was $951 million, or $2.14 per diluted share, including costs from COVID-19 premium wages.
Net sales for the quarter increased 14.7 percent to $43.89 billion.
Net income for the quarter was $951 million, or $2.14 per diluted share.
Comparable sales for the total company increased 13.0 percent.
E-commerce comparable sales increased 75.8 percent.
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Costco Revenue by Segment
Forward Guidance
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, 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), energy and certain commodities, geopolitical conditions (including tariffs), the ability to maintain effective internal control over financial reporting, COVID-19 related factors and challenges, including (among others) the duration of the pandemic, the unknown long-term economic impact, reduced shopping due to illness, travel restrictions or financial hardship, shifts in demand away from discretionary or higher-priced products, reduced workforces due to illness, quarantine, or government mandates, temporary store closures due to reduced workforces or government mandates, or supply-chain disruptions, capacity constraints of third-party logistics suppliers, and other risks identified from time to time in the Company’s public statements and reports filed with the Securities and Exchange Commission.
Positive Outlook
- The company currently operates 804 warehouses.
- Costco also operates e-commerce sites in the U.S., Canada, the United Kingdom, Mexico, Korea, Taiwan, Japan, and Australia.
- Net sales for the quarter increased 14.7 percent
- Net income for the quarter was $951 million
- Comparable sales for the total company increased 13.0 percent
Challenges Ahead
- Domestic and international economic conditions, including exchange rates
- The effects of competition and regulation
- Uncertainties in the financial markets
- Rising costs associated with employees (generally including health-care costs), energy and certain commodities
- COVID-19 related factors and challenges