Costco reports $1.47B in profit for Q2; Canadian sales up as e-comm falls

Costco’s net sales were up 6.5% in the second quarter of fiscal 2023 to $54.24 billion.

Net income was $1.47 billion, up from 1.3 billion in the year-ago quarter. 

Comparable sales for the period increased 3.5% in Canada and 5.2% in total. E-commerce fell 9.6%. 

The club also reported its results for the month of February, with net sales reaching $17.1 billion, an increase of 4.7% from $16.3 billion last year. 

Comparable sales for February increased 1.2% in Canada and 3.5% overall, while e-commerce decreased 11.2%.