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CST: 17/10/2019 06:29:43   

Costco Wholesale Corporation Reports May Sales Results

133 Days ago

ISSAQUAH, Wash., June 05, 2019 (GLOBE NEWSWIRE) -- Costco Wholesale Corporation (“Costco” or the “Company”) (Nasdaq: COST) today reported net sales of $11.67 billion for the retail month of May, the four weeks ended June 2, 2019, an increase of 5.9 percent from $11.02 billion last year.

For the thirty-nine weeks ended June 2, 2019, the Company reported net sales of $111.56 billion, an increase of 8.0 percent from $103.26 billion during the similar period last year.

Comparable sales were as follows:

           
    4 Weeks   39 Weeks  
           
  U.S. 5.7%   8.3%  
  Canada -0.3%   0.9%  
  Other International 0.9%   2.0%  
           
  Total Company 4.2%   6.3%  
           
  E-commerce 20.2%   24.2%  
           

Comparable sales excluding the impacts from changes in gasoline prices, foreign exchange, and a previously disclosed accounting change concerning revenue recognition (ASC 606) were as follows:

           
    4 Weeks   39 Weeks  
           
  U.S. 4.4%   6.7%  
  Canada 3.9%   5.3%  
  Other International 4.8%   5.7%  
           
  Total Company 4.3%   6.3%  
           
  E-commerce 19.9%   23.5%  
           

Additional discussion of these results is available in a pre-recorded telephone message. It can be accessed by dialing 1-855-859-2056 (conference ID 6089562). This message will be available through 5:00 p.m. (PT) on Wednesday, June 12, 2019.

Costco currently operates 773 warehouses, including 536 in the United States and Puerto Rico, 100 in Canada, 39 in Mexico, 28 in the United Kingdom, 26 in Japan, 16 in Korea, 13 in Taiwan, 11 in Australia, two in Spain, and one each in Iceland and France. Costco also operates e-commerce sites in the U.S., Canada, the United Kingdom, Mexico, Korea, and Taiwan.

Certain statements contained in this document and the pre-recorded telephone message constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. For these purposes, forward-looking statements are statements that address activities, events, conditions or developments that the Company expects or anticipates may occur in the future. In some cases forward-looking statements can be identified because they contain words such as “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “intend,” “may,” “might,” “likely,” “plan,” “potential,” “predict,” “project,” “seek,” “should,” “target,” “will,” “would,” or similar expressions and the negatives of those terms. Such forward-looking statements involve risks and uncertainties that may cause actual events, results or performance to differ materially from those indicated by such statements. These risks and uncertainties include, but are not limited to, domestic and international economic conditions, including exchange rates, the effects of competition and regulation, uncertainties in the financial markets, consumer and small business spending patterns and debt levels, breaches of security or privacy of member or business information, conditions affecting the acquisition, development, ownership or use of real estate, capital spending, actions of vendors, rising costs associated with employees (generally including health care costs), energy and certain commodities, geopolitical conditions (including tariffs), the ability to remediate material weaknesses in internal control, and other risks identified from time to time in the Company’s public statements and reports filed with the Securities and Exchange Commission. Forward-looking statements speak only as of the date that they are made, and the Company does not undertake to update them, except as required by law.

     
CONTACTS:   Costco Wholesale Corporation
    Richard Galanti, 425/313-8203
    Bob Nelson, 425/313-8255
    David Sherwood, 425/313-8239
    Josh Dahmen, 425/313-8254

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