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SEGMENTS | 12 Months Ended
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Aug. 31, 2025
Segment Reporting [Abstract] |
SEGMENTS | SEGMENTS The Company and its subsidiaries are principally engaged in the international operation of membership shopping in 56 warehouse clubs located in 12 countries and one U.S. territory that are located in Central America, the Caribbean and Colombia. In addition, the Company operates distribution centers and corporate offices in the United States. The Company has aggregated its warehouse clubs, distribution centers and corporate offices into reportable segments. The Company’s reportable segments are based on management’s organization of these locations into operating segments by general geographic location, which are used by management in setting up management lines of responsibility, providing support services, and making operational decisions and assessments of financial performance. Segment amounts are presented after converting to U.S. dollars and consolidating eliminations. Certain revenues, operating costs and inter-company charges included in the United States segment are not allocated to the segments within this presentation, as it is impractical to do so, and they appear as reconciling items to reflect the amount eliminated on consolidation of intersegment transactions. From time to time, the Company revises the measurement of each segment's operating income and net income, including certain corporate overhead allocations, and other measures as determined by the information regularly reviewed by management. When the Company does so, the previous period amounts and balances are reclassified to conform to the current period's presentation. The group composed of the Company’s (i) Chief Executive Officer, (ii) Chief Operating Officer, and (iii) Chief Financial Officer functions as the Company’s Chief Operating Decision Maker ("CODM"). The Company’s CODM manages business operations and evaluates the performance of each segment based on the operating income (loss) of the segment and net income. The CODM considers actual performance relative to expectations, and growth potential to determine the appropriate allocation of resources to each segment. The following tables summarize by segment certain revenues, significant expense categories, operating costs and balance sheet items regularly provided to the CODM, (in thousands):
|  | United States Operations |  | Central American Operations |  | Caribbean Operations(1) |  | Colombia Operations |  | Reconciling Items(2) |  | Total
Year Ended August 31, 2025 |  |  |  |  |  |  |  |  |  |  |  |
Revenue from external customers |  | $ | 15,548 |  |  | $ | 3,192,159 |  |  | $ | 1,443,074 |  |  | $ | 619,313 |  |  | $ | — |  |  | $ | 5,270,094 |
Intersegment revenues |  | 1,986,399 |  |  | 34,200 |  |  | 7,490 |  |  | 6,493 |  |  | (2,034,582) |  |  | — |
Total revenues |  | 2,001,947 |  |  | 3,226,359 |  |  | 1,450,564 |  |  | 625,806 |  |  | (2,034,582) |  |  | 5,270,094 |
Less (3): |  |  |  |  |  |  |  |  |  |  |  |
Cost of goods sold |  | 14,364 |  |  | 2,632,429 |  |  | 1,187,006 |  |  | 521,923 |  |  | — |  |  | 4,355,722 |
Intersegment cost of goods sold |  | 1,904,809 |  |  | 33,507 |  |  | 6,620 |  |  | 6,345 |  |  | (1,951,281) |  |  | — |
Warehouse club and other operations |  | — |  |  | 286,736 |  |  | 143,332 |  |  | 68,341 |  |  | — |  |  | 498,409 |
General and administrative (4) |  | 179,696 |  |  | 3,447 |  |  | 134 |  |  | 176 |  |  | — |  |  | 183,453 |
Intersegment reimbursement of expenses |  | (78,521) |  |  | 53,652 |  |  | 24,436 |  |  | 433 |  |  | — |  |  | — |
Operating income (loss) |  | (18,401) |  |  | 216,588 |  |  | 89,036 |  |  | 28,588 |  |  | (83,301) |  |  | 232,510 |
Interest income from external sources |  | 1,557 |  |  | 6,262 |  |  | 2,100 |  |  | 220 |  |  | — |  |  | 10,139 |
Interest income from intersegment sources |  | 5,656 |  |  | 6,955 |  |  | 398 |  |  | — |  |  | (13,009) |  |  | — |
Interest expense from external sources |  | (1,218) |  |  | (3,134) |  |  | (1,955) |  |  | (5,208) |  |  | — |  |  | (11,515) |
Interest expense from intersegment sources |  | (4,688) |  |  | (2,865) |  |  | (2,095) |  |  | (3,358) |  |  | 13,006 |  |  | — |
Provision for income taxes |  | (19,723) |  |  | (29,601) |  |  | (6,766) |  |  | (2,527) |  |  | — |  |  | (58,617) |
Other segment items (5) |  | (1,870) |  |  | (5,936) |  |  | (15,364) |  |  | (1,460) |  |  | — |  |  | (24,630) |
Net income (loss) |  | $ | (38,687) |  |  | $ | 188,269 |  |  | $ | 65,354 |  |  | $ | 16,255 |  |  | $ | (83,304) |  |  | $ | 147,887 |
Depreciation, property and equipment |  | (7,751) |  |  | (45,111) |  |  | (22,527) |  |  | (12,772) |  |  | — |  |  | (88,161) |
Long-lived assets (other than deferred tax assets) |  | 90,663 |  |  | 659,756 |  |  | 262,543 |  |  | 197,268 |  |  | — |  |  | 1,210,230 |
Goodwill |  | 8,981 |  |  | 24,254 |  |  | 10,003 |  |  | — |  |  | — |  |  | 43,238 |
Investment in unconsolidated affiliates |  | — |  |  | 6,889 |  |  | — |  |  | — |  |  | — |  |  | 6,889 |
Total assets |  | 300,177 |  |  | 1,147,392 |  |  | 534,654 |  |  | 286,934 |  |  | — |  |  | 2,269,157 |
Capital expenditures, net |  | 27,477 |  |  | 78,241 |  |  | 39,488 |  |  | 8,925 |  |  | — |  |  | 154,131 |
Year Ended August 31, 2024 |  |  |  |  |  |  |  |  |  |  |  |
Revenue from external customers |  | $ | 39,438 |  |  | $ | 2,965,772 |  |  | $ | 1,352,030 |  |  | $ | 556,658 |  |  | $ | — |  |  | $ | 4,913,898 |
Intersegment revenues |  | 1,759,335 |  |  | 31,101 |  |  | 5,641 |  |  | 4,815 |  |  | (1,800,892) |  |  | — |
Total revenues |  | 1,798,773 |  |  | 2,996,873 |  |  | 1,357,671 |  |  | 561,473 |  |  | (1,800,892) |  |  | 4,913,898 |
Less (3): |  |  |  |  |  |  |  |  |  |  |  |
Cost of goods sold |  | 37,484 |  |  | 2,448,195 |  |  | 1,111,804 |  |  | 469,491 |  |  | — |  |  | 4,066,974 |
Intersegment cost of goods sold |  | 1,685,054 |  |  | 30,385 |  |  | 5,676 |  |  | 4,719 |  |  | (1,725,834) |  |  | — |
Warehouse club and other operations |  | — |  |  | 265,157 |  |  | 133,723 |  |  | 67,577 |  |  | — |  |  | 466,457 |
General and administrative (4) |  | 156,260 |  |  | 2,323 |  |  | 821 |  |  | 119 |  |  | — |  |  | 159,523 |
Intersegment reimbursement of expenses |  | (102,331) |  |  | 67,327 |  |  | 30,772 |  |  | 4,232 |  |  | — |  |  | — |
Operating income |  | 22,306 |  |  | 183,486 |  |  | 74,875 |  |  | 15,335 |  |  | (75,058) |  |  | 220,944 |
Interest income from external sources |  | 2,382 |  |  | 7,291 |  |  | 1,175 |  |  | 201 |  |  | — |  |  | 11,049 |
Interest income from intersegment sources |  | 4,618 |  |  | 4,020 |  |  | 376 |  |  | — |  |  | (9,014) |  |  | — |
Interest expense from external sources |  | (1,118) |  |  | (2,843) |  |  | (2,719) |  |  | (6,279) |  |  | — |  |  | (12,959) |
Interest expense from intersegment sources |  | (2,261) |  |  | (3,531) |  |  | (1,154) |  |  | (2,103) |  |  | 9,049 |  |  | — |
Provision for income taxes |  | (20,961) |  |  | (31,761) |  |  | (8,880) |  |  | (1,016) |  |  | — |  |  | (62,618) |
Other segment items (5) |  | 153 |  |  | (8,545) |  |  | (7,235) |  |  | (1,914) |  |  | — |  |  | (17,541) |
Net income |  | $ | 5,119 |  |  | $ | 148,117 |  |  | $ | 56,438 |  |  | $ | 4,224 |  |  | $ | (75,023) |  |  | $ | 138,875 |
Depreciation, property and equipment |  | (5,963) |  |  | (42,990) |  |  | (19,607) |  |  | (14,051) |  |  | — |  |  | (82,611) |
Long-lived assets (other than deferred tax assets) |  | 72,727 |  |  | 614,382 |  |  | 224,019 |  |  | 199,404 |  |  | — |  |  | 1,110,532 |
Goodwill |  | 8,981 |  |  | 24,193 |  |  | 10,023 |  |  | — |  |  | — |  |  | 43,197 |
Investment in unconsolidated affiliates |  | — |  |  | 6,882 |  |  | — |  |  | — |  |  | — |  |  | 6,882 |
Total assets |  | 220,076 |  |  | 1,065,493 |  |  | 451,265 |  |  | 285,860 |  |  | — |  |  | 2,022,694 |
Capital expenditures, net |  | 10,591 |  |  | 108,506 |  |  | 38,777 |  |  | 13,668 |  |  | — |  |  | 171,542 |
Year Ended August 31, 2023 |  |  |  |  |  |  |  |  |  |  |  |
Revenue from external customers |  | $ | 31,741 |  |  | $ | 2,671,083 |  |  | $ | 1,269,307 |  |  | $ | 439,711 |  |  | $ | — |  |  | $ | 4,411,842 |
Intersegment revenues |  | 1,538,589 |  |  | 27,709 |  |  | 5,621 |  |  | 4,466 |  |  | (1,576,385) |  |  | — |
Total revenues |  | 1,570,330 |  |  | 2,698,792 |  |  | 1,274,928 |  |  | 444,177 |  |  | (1,576,385) |  |  | 4,411,842 |
Less (3): |  |  |  |  |  |  |  |  |  |  |  |
Cost of goods sold |  | 30,157 |  |  | 2,210,719 |  |  | 1,043,239 |  |  | 368,396 |  |  | — |  |  | 3,652,511 |
Intersegment cost of goods sold |  | 1,472,335 |  |  | 27,186 |  |  | 5,522 |  |  | 4,376 |  |  | (1,509,419) |  |  | — |
Warehouse club and other operations |  | — |  |  | 240,213 |  |  | 125,291 |  |  | 51,768 |  |  | — |  |  | 417,272 |
General and administrative (4) |  | 134,632 |  |  | 1,224 |  |  | 214 |  |  | 889 |  |  | — |  |  | 136,959 |
Intersegment reimbursement of expenses |  | (102,906) |  |  | 62,716 |  |  | 29,771 |  |  | 10,419 |  |  | — |  |  | — |
Reserve for AMT settlement |  | — |  |  | 7,179 |  |  | — |  |  | — |  |  | — |  |  | 7,179 |
Separation costs associated with Chief Executive Officer departure |  | 7,747 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 7,747 |
Asset impairment and closure costs |  | 479 |  |  | 877 |  |  | 4,302 |  |  | — |  |  | — |  |  | 5,658 |
Operating income |  | 27,886 |  |  | 148,678 |  |  | 66,589 |  |  | 8,329 |  |  | (66,966) |  |  | 184,516 |
Interest income from external sources |  | 3,604 |  |  | 3,977 |  |  | 2,135 |  |  | 155 |  |  | — |  |  | 9,871 |
Interest income from intersegment sources |  | 2,454 |  |  | 1,603 |  |  | 253 |  |  | — |  |  | (4,310) |  |  | — |
Interest expense from external sources |  | (1,165) |  |  | (2,664) |  |  | (3,251) |  |  | (3,940) |  |  | — |  |  | (11,020) |
Interest expense from intersegment sources |  | (75) |  |  | (1,258) |  |  | (1,041) |  |  | (1,939) |  |  | 4,313 |  |  | — |
(Provision) benefit for income taxes |  | (23,283) |  |  | (28,045) |  |  | (9,873) |  |  | 1,250 |  |  | — |  |  | (59,951) |
Other segment items (5) |  | 540 |  |  | (5,975) |  |  | (7,599) |  |  | (1,177) |  |  | — |  |  | (14,211) |
Net income |  | $ | 9,961 |  |  | $ | 116,316 |  |  | $ | 47,213 |  |  | $ | 2,678 |  |  | $ | (66,963) |  |  | $ | 109,205 |
Depreciation, property and equipment |  | (5,482) |  |  | (37,053) |  |  | (19,188) |  |  | (10,210) |  |  | — |  |  | (71,933) |
Amortization, Intangibles |  | (765) |  |  | — |  |  | — |  |  | — |  |  | — |  |  | (765) |
Long-lived assets (other than deferred tax assets) |  | 71,919 |  |  | 566,139 |  |  | 210,000 |  |  | 205,295 |  |  | — |  |  | 1,053,353 |
Goodwill |  | 8,981 |  |  | 24,083 |  |  | 10,046 |  |  | — |  |  | — |  |  | 43,110 |
Investment in unconsolidated affiliates |  | — |  |  | 10,479 |  |  | — |  |  | — |  |  | — |  |  | 10,479 |
Total assets |  | 302,115 |  |  | 995,881 |  |  | 425,145 |  |  | 282,467 |  |  | — |  |  | 2,005,608 |
Capital expenditures, net |  | 10,204 |  |  | 79,526 |  |  | 24,234 |  |  | 29,948 |  |  | — |  |  | 143,912 |
(1)Management considers its club in the U.S. Virgin Islands to be part of its Caribbean operations. (2)The reconciling items reflect the amount eliminated on consolidation of intersegment transactions. (3)The significant expense categories and amounts align with the segment-level information that is regularly provided to the chief operating decision maker. (4)General and administrative expenses include pre-opening expenses and loss on disposal of assets. (5)Other segment items include other expense, net and income (loss) of unconsolidated affiliates.

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- Definition The entire disclosure for reporting segments including data and tables. 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