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The Associated Press reports that Costco Wholesale had Q4 earnings of $779 million, up 1.6 percent from from $767 million during the same period a year ago. Net revenue, excluding membership fees, was up two percent to $35.7 billion. Q4 same-store sales were flat.

For the fiscal year, Costco reported profit of $2.35 billion, down from $2.38 billion a year ago, on revenue of $116.07 billion, up two percent from the previous year.

However ... putting to rest a belief in some quarters that its switch from American Express to Visa was hurting its results, Costco said that "customers opened 730,000 new credit card accounts since the launch of its new Visa cards in June," according to the Puget Sound Business Journal. While the switch has not gone smoothly and is expected to have some impact on Costco's financial results, the company also expects to increase sign-ups during the coming holiday sales period.
KC's View:
Funny. Just yesterday I got an email suggesting that the move to Costco to Amazon that we'd been discussing here might be at least partially connected to the Amex-Visa shift. At least in the short term, that doesn't seem to be the case.

The thing about these competitive sets is, it rarely is either/or. There's plenty of room for both Amazon and Costco ... but the way they continue to carve out their own spaces is fascinating.