Costco Q4FY27 Results: Net sales rise 11.3% to $93.9 billion
- Q4 net sales rose 11.3% YoY to $93.9 billion, driven by strong US growth
- Full-year sales reached $297.3 billion, up 10.2% from the prior year
- Digitally-enabled comparable sales surged 19.5% in Q4, outpacing overall growth
- US comparable sales led the pack with a 10.7% increase in the quarter
- Labor Day timing shifted August sales negatively by less than 75 bps
*this image is generated using AI for illustrative purposes only.
Costco Wholesale Corporation (NASDAQ: COST) reported a robust top-line performance for its 16-week fourth quarter ended August 30, 2026. The warehouse retailer logged net sales of $93.9 billion, marking an 11.3% increase from the $84.4 billion recorded in the same period last year.
For the retail month of August alone, net sales reached $23.70 billion, up 9.9% year-on-year from $21.56 billion. On a full-year basis, the company’s 52-week fiscal year sales totaled $297.3 billion, reflecting a 10.2% growth over the prior year’s $269.9 billion.
Comparable Sales Performance
Comparable sales figures reveal the underlying strength of the business, adjusted for store openings and closures. Total company comparable sales grew 9.4% in the fourth quarter and 8.4% for the full fiscal year.
The United States remained the primary growth engine, with comparable sales rising 10.7% in Q4 and 8.2% for the full year. International operations also contributed meaningfully, with "Other International" markets posting a 7.0% quarterly jump and a 9.8% annual increase. Canada saw more modest gains, with comparable sales up 5.0% in the quarter and 7.8% for the year.
| Region | Q4 Comp Sales | FY Comp Sales |
|---|---|---|
| U.S. | 10.7% | 8.2% |
| Canada | 5.0% | 7.8% |
| Other International | 7.0% | 9.8% |
| Total Company | 9.4% | 8.4% |
Digital and Exclusions
Digitally-enabled sales continued to outpace brick-and-mortar growth significantly. In the fourth quarter, digital comparable sales surged 19.5%, while the full-year figure stood at 20.9%. This acceleration highlights the increasing reliance on e-commerce channels within Costco’s omnichannel strategy.
When excluding the impacts of changes in gasoline prices and foreign exchange, total company comparable sales grew 6.7% in Q4 and 6.6% for the fiscal year. The U.S. market drove this core growth with a 7.2% quarterly increase, compared to 4.6% in Canada and 6.2% in other international regions.
What the Numbers Show
A clear divergence exists between organic store performance and digital channels. While total company comparable sales rose by 9.4% in Q4, digitally-enabled sales grew at more than double that rate (19.5%). This suggests that while foot traffic and traditional membership spending remain healthy, the digital segment is currently the primary vector for accelerated revenue expansion.
Additionally, the shift in Labor Day timing negatively impacted August total and comparable sales by slightly less than 75 basis points, indicating that seasonal calendar effects can introduce minor volatility to monthly reporting periods.
Operational Footprint
Costco currently operates 939 warehouses globally. The U.S. and Puerto Rico remain the largest markets with 647 locations, followed by Canada with 115 stores. The company maintains an active e-commerce presence in key markets including the U.S., Canada, the U.K., Mexico, Korea, Taiwan, Japan, Australia, and China.
How will Costco's aggressive digital sales growth of 19.5% impact its logistics costs and margin structure in the coming fiscal year?
Given the divergence between U.S. and Canadian comparable sales, what specific strategies is Costco deploying to accelerate growth in the Canadian market?
Will Costco increase its warehouse expansion pace in high-growth 'Other International' markets to capitalize on the 9.8% annual comp sales increase?
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