Costco reports healthy year-end results

Costco has released its annual results for the year ended Oct. 31. Net sales for the fiscal year totaled $222.7 billion, an increase of 16%, with a comparable sales increase of 14%. Net income for the year was $5.8 billion, or $13.14 per diluted share, an increase of 17%. Revenue from membership fees increased 9% to $4.2 billion.

During the year, Costco opened two more locations in Canada, for a total of 107, with 50,000 employees in this country.