Costco Wholesale Corporation Reports March Sales Results
April 05 2017 - 9:00PM
Costco Wholesale Corporation (“Costco” or the “Company”)
(Nasdaq:COST) today reported net sales of $11.64 billion for the
month of March, the five weeks ended April 2, 2017, an increase of
nine percent from $10.71 billion during the similar period last
year. This year’s total reflects one additional sales day due to
the timing of Easter, which positively impacted net and comparable
sales by an estimated one to one and one-half percent.
For the thirty-one weeks ended April 2, 2017,
the Company reported net sales of $72.82 billion, an increase of
six percent from $68.96 billion during the similar period last
year.
Comparable sales were as follows:
|
5 Weeks |
|
31 Weeks |
U.S. |
7 |
% |
|
3 |
% |
Canada |
3 |
% |
|
6 |
% |
Other
International |
4 |
% |
|
0 |
% |
|
|
|
|
Total
Company |
6 |
% |
|
3 |
% |
Comparable sales for these periods excluding the
impacts from changes in gasoline prices and foreign exchange were
as follows:
|
5 Weeks |
|
31 Weeks |
U.S. |
6 |
% |
|
3 |
% |
Canada |
3 |
% |
|
3 |
% |
Other
International |
6 |
% |
|
3 |
% |
|
|
|
|
Total
Company |
5 |
% |
|
3 |
% |
Additional discussion of these results is
available in a pre-recorded telephone message. The recording can be
accessed by dialing 1-855-859-2056 (conference ID 92701767). This
message will be available today through 5:00 p.m. (PT) on
Wednesday, April 12, 2017.
Costco currently operates 729 warehouses,
including 508 in the United States and Puerto Rico, 95 in Canada,
37 in Mexico, 28 in the United Kingdom, 25 in Japan, 13 in Korea,
13 in Taiwan, eight in Australia and two in Spain. Costco also
operates electronic commerce web 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. 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, 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 they are made, and we do not
undertake to update these statements, except as required by
law.
CONTACTS:
Costco Wholesale Corporation
Richard Galanti, 425/313-8203
Bob Nelson, 425/313-8255
David Sherwood, 425/313-8239
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