Costco Wholesale Corporation continues to see impressive growth, with its second-quarter results for fiscal year 2026 showcasing strong performance, especially in Canada. Comparable sales in Canada jumped by 10.1% on a reported basis. When adjusted for gasoline prices and foreign exchange impacts, the growth moderates to 7.6%, still outpacing the U. S. market's 6.4%. This Canadian performance contributed to an overall comparable sales increase of 7.4% for the company.
Net sales for the quarter increased by 9.1% to $68.24 billion, with total revenue reaching $69.60 billion. Net income also saw a healthy rise, reaching $2.035 billion, or $4.58 per diluted share. Membership fees, a significant revenue stream for Costco, grew by 13.6%. Worldwide renewal rates remain high, at 89.7%, including 92.1% in the U. S. and Canada.
Costco's digital sales are also experiencing rapid growth, with digitally-enabled comparable sales increasing by 22.6%. This highlights the company's successful efforts to enhance online shopping experiences and personalized recommendations. As Costco continues to expand its footprint with new warehouse openings and a strong focus on digital growth, the company appears well-positioned to maintain its momentum in the Canadian market and beyond.
Analysts remain optimistic about Costco's prospects, with many forecasting continued growth potential. Costco is expanding its market share and driving membership growth. The company opened eight net new warehouses in the fiscal first quarter, and is targeting upwards of 30 warehouse openings annually.
