Costco Wholesale Corporation is a popular membership-based warehouse club that is known for offering a wide range of products at competitive prices. The company is a leading player in the retail industry and is known for its robust business model and high-quality products. With its significant presence across the United States, Canada, and other countries, Costco has managed to earn an enviable reputation in the retail market. So, you may be wondering, how much money does Costco make in a day?
How Much Money Does Costco Make In A Day?
As a publicly-traded company, Costco’s financials are available for public viewing. According to the company’s 2022 annual report, Costco’s total revenue for the fiscal year 2022 was $226.95 billion (SEC). This translates to an average daily revenue of approximately $621.79 million.
It’s important to note that this figure represents the total revenue earned by Costco, including all its business segments, such as food, electronics, clothing, and gasoline, as well as membership fees. The average daily revenue is calculated by dividing the total revenue by the number of days in the fiscal year, which is 365.
However, it’s worth noting that Costco’s revenue is not constant throughout the year. Similar to other larger retailers like Walmart, Costco experiences seasonal fluctuations in its sales, with the highest sales typically occurring during the holiday season.
Furthermore, Costco’s revenue is not the same as its profit. The company incurs various expenses, such as the cost of goods sold, employee salaries, and overhead costs, which are subtracted from its revenue to arrive at its net income. According to their 2022 annual report, Costco’s net income was $5.8 billion, which is a net profit margin of approximately 2.62%.
So, how much does Costco make in a day? In FY 2022, it was $621.79 million.
Here Are More Interesting Costco Facts
Per Costco’s 2022 annual report,
- Costco started in 1983
- As of August 28th, 2022, Costco had 838 warehouse locations worldwide
- Costco is a international company, but it’s earnings are highly dependent on the US, fully 85% of Costco’s earnings come from North America
- In the US, Costco’s earnings are highly concentrated in California, fully 28% of net US sales came from this state
- Famous celebrities such as Mark Zuckerberg and Bryan Cranston are known to shop at Costco (per Mashed.com).
In conclusion, while Costco is a tremendously large and popular company, it’s not possible to determine exactly how much Costco makes on a specific day without access to Costco’s internal accounting systems. However, its total revenue and net income figures provide a rough estimate of its daily earnings. Based on its 2022 annual report, Costco earned an average daily revenue of $621.79 million, which is an impressive figure. However, it’s important to remember that this figure can vary significantly due to seasonal fluctuations and other factors, and should be viewed as an approximate estimate.
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