Costco announces second quarter and year-to-date results for fiscal 2022
In March 2022, Costco Wholesale Corporation (Costco) released its operating results for the second quarter and the first 24 weeks of fiscal 2022, which ended February 13, 2022. The company states net sales for the quarter increased 16.1% to $50.94 billion, compared to the same quarter last year. Net sales for the 24 weeks increased 16.4% to $100.4 billion, up from $86.2 billion last year. Costco notes in the release that the results exclude the impacts of changes in gasoline prices and foreign exchange.
Discontinued ActivityIn response to volatile demand in the wake of the first COVID-19 surge, the company undertook a comprehensive cost reduction program, aimed at shoring up labor and supply costs.
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