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# Costco Wholesale (COST) - Recent Events, Fiscal 2026 Costco's fiscal year is 52 weeks, divided into quarters of 12, 12, 12 and 16 weeks. Fiscal 2026 ended August 30, 2026. The fourth quarter is a 16-week quarter and is not directly comparable with the 12-week quarters. Dollar amounts are as stated in the filings. ## Filings that contain financial statements The following Form 8-K filings furnish an Exhibit 99.1 earnings release with an income statement, balance sheet and condensed cash flow statement. These are unaudited statements and are separate from the periodic reports. - Form 8-K filed September 24, 2026, accession 0000909832-26-000084: 16-week fourth quarter and 52-week fiscal year ended August 30, 2026 (income statement for both periods, balance sheet at August 30, 2026 and August 31, 2025, and 52-week condensed cash flow statement). The balance sheet and cash flow statement are marked "Subject to Reclassification" in the release. Annual report accession 0000909832-26-000093 (Form 10-K filed October 7, 2026) follows it. - Form 8-K filed May 28, 2026, accession 0000909832-26-000046: third quarter (12 weeks) and first 36 weeks of fiscal 2026, ended May 10, 2026 (condensed income statement, balance sheet and cash flow statement). - Form 8-K filed March 5, 2026, accession 0000909832-26-000025: second quarter (12 weeks) and first 24 weeks of fiscal 2026, ended February 15, 2026 (condensed income statement, balance sheet and cash flow statement). - Form 8-K filed December 11, 2025, accession 0000909832-25-000164: first quarter (12 weeks) of fiscal 2026, ended November 23, 2025 (income statement, balance sheet and condensed cash flow statement). - Form 8-K filed September 25, 2025, accession 0000909832-25-000093: 16-week fourth quarter and 52-week fiscal year 2025, ended August 31, 2025 (income statement, balance sheet and condensed cash flow statement). ## Earnings releases - **September 24, 2026 - fourth quarter and fiscal 2026 results** (0000909832-26-000084). Fourth-quarter net sales rose 11.2% to $93.9 billion; fiscal-year net sales rose 10.1% to $297.2 billion. Total company comparable sales were up 9.4% in the quarter (6.7% adjusted for gasoline prices and foreign exchange) and 8.4% for the year (6.6% adjusted). Fourth-quarter net income was $2.998 billion, or $6.75 per diluted share, against $2.610 billion, or $5.87, a year earlier, and included a non-recurring benefit of $0.15 per diluted share from IEEPA tariff refunds received in the quarter, less partial reinvestment of those refunds in member values. Fiscal-year net income was $9.226 billion, or $20.76 per diluted share, against $8.099 billion, or $18.21. The company operated 939 warehouses at the release date, with 967 estimated by the end of fiscal 2027 per the supplemental slides. The release does not give numerical earnings guidance. - **May 28, 2026 - third quarter results** (0000909832-26-000046). Net sales for the 12-week quarter rose 11.6% to $69.15 billion; comparable sales were up 9.8% (6.6% adjusted). Net income was $2.19 billion, or $4.93 per diluted share, against $1.90 billion, or $4.28. For the first 36 weeks, net sales were $203.37 billion (up 9.6%) and net income was $6.23 billion, or $14.01 per diluted share. - **March 5, 2026 - second quarter results** (0000909832-26-000025). Net sales for the 12-week quarter rose 9.1% to $68.24 billion; comparable sales were up 7.4% (6.7% adjusted). Net income was $2,035 million, or $4.58 per diluted share, against $1,788 million, or $4.02. For the first 24 weeks, net sales were $134.22 billion and net income was $4.04 billion, or $9.08 per diluted share. The release also reported four-week February sales of $21.69 billion, up 9.5%. - **December 11, 2025 - first quarter results** (0000909832-25-000164). Net sales for the 12-week quarter rose 8.2% to $65.98 billion; comparable sales were up 6.4%. Net income was $2,001 million, or $4.50 per diluted share, against $1,798 million, or $4.04, including a $72 million ($0.16 per diluted share) tax benefit related to stock-based compensation. - **September 25, 2025 - fourth quarter and fiscal 2025 results** (0000909832-25-000093). Fourth-quarter net sales rose 8.0% to $84.4 billion; fiscal 2025 net sales rose 8.1% to $269.9 billion. This release is the prior-year basis for the fiscal 2026 comparisons above. ## Dividends - **April 15, 2026** (0000909832-26-000041): the Board approved a quarterly dividend increase from $1.30 to $1.47 per share ($5.88 annualized), payable May 15, 2026 to holders of record May 1, 2026. - **July 7, 2026** (0000909832-26-000060, filed July 8): quarterly dividend of $1.47 per share, payable August 7, 2026 to holders of record July 24, 2026. - **January 15, 2026** (0000909832-26-000016): quarterly dividend of $1.30 per share, payable February 13, 2026 to holders of record January 30, 2026. - **October 15, 2025** (0000909832-25-000105): quarterly dividend of $1.30 per share, payable November 14, 2025 to holders of record October 31, 2025. - The prior increase, from $1.16 to $1.30 per share, was announced April 16, 2025 (0000909832-25-000023). ## Governance and management - **January 15, 2026 annual meeting** (0000909832-26-000016, filed January 21): shareholders elected the nominated directors, ratified KPMG LLP as independent auditors for fiscal 2026, and approved executive compensation on an advisory basis. A shareholder proposal on a greenwashing risk audit was not approved. - **October 14, 2025** (0000909832-25-000107, filed October 20): the Compensation Committee approved the Fiscal 2026 Executive Bonus Plan. The Chief Executive Officer is eligible for a bonus of up to $1.12 million; other executive officers can earn up to $371,200. - **August 2025** (0000909832-25-000064, filed August 7, 2025): Russ Miller, Senior Executive Vice President and COO of U.S. and Mexico Operations, to retire effective February 2026; Caton Frates to become Senior Executive Vice President, Warehouse Operations - U.S. and Mexico, effective February 2026. - **June 2025** (0000909832-25-000036, filed June 11, 2025): Tiffany Barbre appointed Senior Vice President, Corporate Controller and Principal Accounting Officer effective July 1, 2025, succeeding Dan Hines, who retires in January 2026. ## Items disclosed in the annual report rather than in a current report These developments are described in the Form 10-K filed October 7, 2026 (accession 0000909832-26-000093), which is the only filing that gives the full detail. The September 24, 2026 earnings release (accession 0000909832-26-000084, Exhibit 99.1) mentions only a non-recurring benefit of $0.15 per diluted share to fourth-quarter net income from IEEPA tariff refunds received in the quarter, less partial reinvestment of those refunds in increased member values. - **IEEPA tariffs.** Costco paid approximately $500 million in tariffs under the International Emergency Economic Powers Act. The U.S. Supreme Court ruled the tariffs unlawful in February 2026. During fiscal 2026 Costco received $184 million of refunds ($174 million recorded as a reduction to merchandise costs and $10 million as interest income), and received a further $155 million after year-end. The company intends to invest the majority of refunds in increased member value. - **Tariff-related class actions.** Four class actions filed in March 2026 seek a refund of tariffs passed on to members through higher prices. The Gower court denied the company's motion to dismiss on July 17, 2026, and a motion seeking discretionary appellate review is pending. - **Debt.** Costco's Japan subsidiary issued three series of Guaranteed Senior Notes totaling about $500 million, at fixed rates of 2.620% to 3.680%, during fiscal 2026. The 3.000% Senior Notes due May 2027 ($1.0 billion) and 1.375% Senior Notes due June 2027 ($1.25 billion) fall within a year of the balance sheet date, consistent with current portion of long-term debt of $2,248 million at August 30, 2026. - **Buybacks.** The $4.0 billion repurchase authorization approved in January 2023 expires in January 2027. In fiscal 2026 the company repurchased 891,000 shares at an average price of $950.90, totaling $847 million. ## Not present in the filings reviewed No acquisitions, divestitures, restructurings, impairments, stock splits or special dividends appear in the Form 8-K filings for this period.