Costco Income Jumps 13% in 2Q to $394 Million

February 28, 2012  by in UnCategorized   

By Home Furnishings Business in on February 29, 2012 Multi-channel retailer Costco reported net income of $394 million for the second quarter ended Feb. 12, a 13 percent increase compared to net income of $348 million posted in the same quarter last year.

Net sales for the quarter climbed 10 percent to $22.51 billion from $20.45 billion reported in the second quarter last year.

Net sales for the first six months of the year increased 11 percent to $43.69 billion from $39.27 billion posted in the first six months of last year. Net income for the first half was $714 million, an 8 percent increase compared to net income of $660 million in the first half of last year.

The retailer also reported net sales of $7.04 billion for the four weeks ended Feb. 26, a 10 percent increase from $6.38 billion in the same four-week period in the prior fiscal year.

The entire earnings release can be found online.