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1、FISCAL YEAR ENDED AUGUST 28,2022ANNUAL REPORT2022December 7,2022Dear Costco Shareholders,Through the years,Costcos mission has stayed the same:providing our members with quality goods and services at thelowest prices.We follow our Code of Ethics of obeying the law,taking care of our members and empl

2、oyees,respecting oursuppliers,and rewarding our shareholders.By staying true to our culture,Costco has continued to succeed,despite thechallenging business environment.The past year presented many challenges due to inflationary pressures in commodities,labor and transportation.Our buyingstaff around

3、 the world exhibited diligence and perseverance in developing and executing on strategies to minimize the impactto both our members and the business.Our business model,including limiting SKU counts,focusing on the most productiveitems,and bringing goods to market in high volumes,can not only sustain

4、 but provide opportunities in even challengingcircumstances.We had strong operating results in fiscal 2022.Net sales for the 52-week fiscal year totaled$222.7 billion,an increase of 16%,with a comparable sales increase of 14%.Net income for the 52-week fiscal year was$5.8 billion,or$13.14 per dilute

5、d share,an increase of 17%.Revenue from membership fees increased 9%to$4.2 billion.With the slowing of the pandemic,we were able to increase the pace of opening warehouses and business centersdomestically and internationally,including 23 net new locations:14 in the U.S.,two in Canada,and one each in

6、 Mexico,Korea,Japan,Spain,France,Australia and China.Subsequent to the end of fiscal 2022,we expanded our operations to New Zealandand Sweden.In June 2022,we purchased the equity interest of our Taiwan operations from our former joint venture partner.Our Kirkland Signature brand realized strong glob