Costco reports rise in Q1 2025 sales and earnings

Financial Performance - Costco Wholesale reported an 8.2% increase in net sales for Q1 of fiscal 2026, totaling $65.98 billion, up from $60.99 billion in the same quarter of the previous year [1] - Comparable sales increased by 6.4% across the business [1] - Net income rose from $1.79 billion to $2 billion, marking an 11.7% year-on-year increase [1] - Total revenue reached $67.31 billion, which included $1.33 billion from membership fees [2] - Operating income increased to $2.46 billion from $2.20 billion in 2024 [2] - Income before income taxes was reported at $2.58 billion, with a tax provision of $582 million [2] Sales Growth - The company recorded sales gains of 5.9% in the US, 6.5% in Canada, and 8.8% in other international markets [1] - Online sales experienced significant growth of 20.5% [1] Warehouse Operations - At the end of the quarter, Costco operated 923 warehouses globally, including 633 in the US and Puerto Rico, 114 in Canada, and various locations in other countries [2][3] - The company maintains e-commerce platforms in multiple countries, including Australia, Canada, Japan, Korea, Mexico, Taiwan, the UK, and the US [3] Legal Actions - In early December 2025, Costco filed a lawsuit against the US administration to pause tariff collections and recover import duties paid under recent global import taxes, reflecting ongoing legal challenges related to tariff policies introduced in 2025 [4]