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Costco(COST) - 2025 Q4 - Earnings Call Presentation
2025-09-25 21:00
Sales Performance - Net sales reached $84.4 billion, representing an 8.0% growth[4] - Comparable sales increased by 5.7%[4] - Adjusted comparable sales, excluding gasoline price and foreign exchange impacts, grew by 6.4%[4] - E-commerce comparable sales saw a 13.6% increase, with an adjusted increase of 13.5% excluding foreign exchange impacts[4] - US comparable sales increased by 5.1%, while adjusted US comparable sales grew by 6.0%[8] Financial Highlights - Net income was $2.61 billion, and diluted EPS was $5.87, representing a 10.9% and 11.0% growth respectively[9] - Gross margin increased by 13 bps compared to Q4 FY'24, and 3 bps excluding gas impact[9] - SG&A decreased by 17 bps compared to Q4 FY'24, and 9 bps excluding gas impact[9] Membership Metrics - Membership income grew by 14.0%, or 13.6% excluding foreign exchange impacts[12] - The worldwide membership renewal rate was 89.8%, with a US/CN renewal rate of 92.3%[12] - Paid memberships reached 81.0 million, a 6.3% increase[15] - Total cardholders amounted to 145.2 million, a 6.1% increase[15] Digital Performance - E-commerce comparable sales increased by 13.6%, with an adjusted increase of 13.5%[17] - E-commerce site traffic increased by 27%[20] Warehouse Expansion - The company ended FY'25 with a total of 914 warehouses, including 629 in the US, 110 in Canada, and 175 in other international locations[23] - The company plans to expand to 944 warehouses in FY'26[23]