The American distribution chain Costco Wholesale Corporation recorded a net profit of 6.607 million euros for its 2024 financial year, ending September 1. which represents an advance of 17.1% compared to its 2023 result.
The American firm earned 228.199 million euros in total, or 5% more. Of this amount, sales “in themselves” represent the majority of turnover, i.e. 223.869 million euros, a figure also 5% more than that recorded twelve months earlier. Membership commissions provided 4.330 million euros, or 5.4% more.
For their part, Costco’s expenses amounted to 219,872 million euros, or 4.7% more. The multinational explained that 199.415 million euros and 20,456 million euros corresponded to merchandise expense items and selling, general and administrative expenses, respectively.
Costco currently operates a total of 891 warehouses, including 614 in the United States and Puerto Rico, 108 in Canada, 40 in Mexico, 35 in Japan, 29 in the United Kingdom, 19 in South Korea, 15 in Australia, 14 in Taiwan. seven in China, five in Spain, two in France and one each in Iceland, New Zealand and Sweden.
Furthermore, Costco also has online stores in the United States, Canada, Great Britain, Mexico, South Korea, Taiwan, Japan and Australia.
Already in the last quarter of the year, profits amounted to 2.111 million euros, or 9% more, while revenues increased by 1% to 71.474 million euros in turnover.
Increase in rates
Costco announced its annual price increase in July membership fees applied in the United States and Canada from September 1, which represents the first increase since 2017.
Thus, all members of the “Gold Star” (individuals) and Business category in both markets now pay a subscription of 58.29 euros instead of 53.81 euros, while The amount for “Executive” members increases from 107.62 euros to 116.59 euros.
In addition, the company indicated that the maximum annual reward of 2% associated with “Executive” membership has increased from 896.82 to 1,121.03 euros.
