Costco ended fiscal 2026 with another large step up in sales, helped by steady warehouse demand and much faster growth across its digitally enabled business. The retailer reported fourth-quarter net sales of $93.873 billion, up 11.2% from the same period a year earlier.
The headline is strong, but the details are more useful than the percentage alone. Costco's results show how a membership retailer can continue expanding in physical stores while using e-commerce, delivery and digitally assisted purchases to deepen its relationship with members.
Costco's fourth-quarter numbers
In its official fiscal 2026 results, Costco reported quarterly net income of $2.998 billion, or $6.75 per diluted share. That compares with $2.610 billion, or $5.87 per share, in the previous year's fourth quarter.
The quarter included a roughly $0.15-per-share non-recurring benefit connected to tariff refunds. That detail matters because it separates part of the profit increase from the performance of the underlying business.
For the full fiscal year, net sales rose 10.1% to $297.247 billion. Net income reached $9.226 billion, equal to $20.76 per diluted share. Those numbers make Costco's scale clear: even a modest change in member visits, renewal behaviour or average transaction value can move billions of dollars in annual revenue.
Comparable sales stayed positive
Company-wide comparable sales rose 9.4% in the fourth quarter. Excluding changes in gasoline prices and foreign exchange rates, the increase was 6.7%.
The adjusted figure is often the cleaner measure for comparing the retail operation from one period to the next. Fuel prices can shift the dollar value of sales without indicating that customers bought more products, while currency movements can inflate or reduce overseas revenue when it is translated into U.S. dollars.
Costco's international footprint also gives the results a global dimension. The company said it operated 939 warehouses at the end of the reporting period across the United States and Puerto Rico, Canada, Mexico, Japan, the United Kingdom, South Korea, Australia, Taiwan, China, Spain, France, Iceland, New Zealand and Sweden.
Digital growth was the standout
Digitally enabled comparable sales increased 19.5%, or 19.8% after excluding foreign-exchange effects. Costco uses this measure for activity that begins through a digital channel, so it is broader than traditional parcel-based e-commerce.
That growth does not mean Costco is turning into an online-only retailer. Its warehouses remain central to the model: limited product selection, bulk packs, memberships and high sales volumes help keep the operation distinctive. Digital tools can make that model more convenient through delivery, app-based discovery and easier access to services.
For investors, the key question is whether digital expansion adds sales without eroding the economics that make warehouse retail profitable. Delivery and fulfilment can be expensive. Costco will need to balance convenience with disciplined pricing and operating costs.
Why the results matter to shoppers and markets
Costco is often watched as a signal of household spending because its assortment covers groceries, fuel, electronics, appliances and discretionary goods. Its continued sales growth suggests that members are still directing meaningful spending through the chain, even as consumers remain selective about value.
The membership model also provides recurring fee income and a reason for shoppers to consolidate purchases. That creates a different business profile from a retailer relying only on product margins. Strong renewal and traffic trends can make earnings more resilient, although Costco still faces wage, freight, commodity and currency pressures.
The results arrive during a period when companies are also turning to capital markets to fund ambitious investments. SoftBank's planned bond financing for AI commitments is a very different strategy, but both stories show why cash flow and financing choices are receiving close attention.
What to watch in fiscal 2027
Three items deserve attention: warehouse openings, member behaviour and digital profitability. New locations can create years of sales growth, but they require capital and careful market selection. Membership trends indicate whether customers still see enough value to renew. Digital sales growth will be judged against fulfilment costs, not just revenue.
Costco's Q4 report gives the company momentum entering fiscal 2027. The harder test is maintaining that pace while protecting the low-price reputation that keeps members returning.
Frequently asked questions
How much did Costco make in Q4 2026?
Costco reported $93.873 billion in quarterly net sales and $2.998 billion in net income.
How fast did Costco's digital business grow?
Digitally enabled comparable sales rose 19.5%, or 19.8% excluding foreign-exchange effects.
How many Costco warehouses are there?
Costco said it operated 939 warehouses worldwide at the end of the reporting period.
