Costco Wholesale
Q2 2023 Earnings Call
Mar 02, 2023, 5:00 p.m. ET
Contents:
- Prepared Remarks
- Questions and Answers
- Call Participants
Prepared Remarks:
Operator
Good day. My name is Emma, and I will be your conference operator today. At this time, I would like to welcome everyone to the Costco Wholesale second quarter fiscal year 2023 earnings conference call. [Operator instructions] Richard Galanti, CFO, you may begin your conference.
Richard Galanti -- Chief Financial Officer
Thank you, Emma, and good afternoon to everyone. I will start by stating that these discussions will include forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements involve risks and uncertainties that may cause actual events, results, and/or performance to differ materially from those indicated by such statements. The risks and uncertainties include, but are not limited to, those outlined in today's call as well as other risks identified from time to time in the company's public statements and reports filed with the SEC.
Forward-looking statements speak only as of the date they are being made, and the company does not undertake to update these statements except as required by law. In today's press release, we reported operating results for the second quarter of fiscal '23, the 12 weeks ended this past February 12th, as well as February retail sales for the four weeks ended this past Sunday, February 26th. Reported net income for the quarter came in at $1.466 billion or $3.30 per share, compared to $1.299 billion or $2.92 a share -- per diluted share last year, an increase of 13%. In terms of sales, net sales for the second quarter increased 6.5% to $54.24 billion, compared to $50.94 billion reported a year ago in the second quarter.
Comparable sales for the second quarter were as follows: in the U.S., 5.7% for the 12-week period. Excluding gas inflation, 5.8%; Canada, 3.5% reported. A 9.6%, excluding gas inflation and FX; Other International, 3.8% and reported a 9.5% ex gas inflation and FX; for total company of 5.2% reported and 6.8%, excluding gas inflation and FX. E-commerce was a 9.6% -- minus 9.6% for the 12 weeks reported and minus 8.7% excluding FX.
In terms of second quarter comp sales metrics, traffic or shopping frequency increased 5% worldwide and 3.7% in the United States. Our average transaction or ticket was up 0.002% worldwide and up 1.9% in the U.S. during Q2. Foreign currencies relative to the dollar negatively impacted sales by approximately 1.8%, and gasoline price inflation positively impacted sales very slightly by approximately 0.2%.