COSTCO WHOLESALE CORPORATION REPORTS MARCH SALES RESULTS
April 08 2020 - 4:15PM
Costco Wholesale Corporation (“Costco” or the “Company”) (Nasdaq:
COST) today reported net sales of $15.49 billion for the retail
month of March, the five weeks ended April 5, 2020, an increase of
11.7 percent from $13.87 billion last year.
For the thirty-one weeks ended April 5, 2020,
the Company reported net sales of $96.25 billion, an increase of
9.0 percent from $88.29 billion during the similar period last
year.
Comparable sales were as follows:
|
|
|
|
|
|
|
|
5 Weeks |
|
31 Weeks |
|
|
|
|
|
|
|
|
U.S. |
10.7% |
|
8.0% |
|
|
Canada |
1.2% |
|
5.4% |
|
|
Other International |
12.2% |
|
7.0% |
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|
|
|
|
|
|
|
Total Company |
9.6% |
|
7.5% |
|
|
|
|
|
|
|
|
E-commerce |
48.3% |
|
22.2% |
|
|
|
|
|
|
|
Comparable sales excluding the impacts from
changes in gasoline prices and foreign exchange were as
follows:
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|
|
|
|
|
|
5 Weeks |
|
31 Weeks |
|
|
|
|
|
|
|
|
U.S. |
12.1% |
|
7.9% |
|
|
Canada |
7.2% |
|
6.4% |
|
|
Other International |
19.2% |
|
8.4% |
|
|
|
|
|
|
|
|
Total Company |
12.3% |
|
7.8% |
|
|
|
|
|
|
|
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E-commerce |
49.8% |
|
22.4% |
|
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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 1985632). This message
will be available through 5:00 p.m. (PT) on Wednesday, April 15,
2020.
Costco currently operates 787 warehouses,
including 547 in the United States and Puerto Rico, 100 in Canada,
39 in Mexico, 29 in the United Kingdom, 26 in Japan, 16 in Korea,
13 in Taiwan, 12 in Australia, two in Spain, and one each in
Iceland, France, and China. Costco also operates e-commerce sites
in the U.S., Canada, the United Kingdom, Mexico, Korea, Taiwan,
Japan, and Australia. 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,”
“likely,” “may,” “might,” “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 maintain effective internal control over
financial reporting, COVID-19 related factors and challenges,
including among others, the duration of the pandemic and its after
effects, the inability of customers to shop due to illness, travel
restrictions or financial hardship, shifts in demand away from
discretionary or higher priced products to lower priced products,
the inability of the workforce to work due to illness, quarantine,
or government mandates, or temporary store closures due to reduced
workforces or government mandates, 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 the Company
does not undertake to update these statements, except as required
by law.
CONTACTS: |
Costco
Wholesale CorporationRichard Galanti, 425/313-8203Bob Nelson,
425/313-8255David Sherwood, 425/313-8239Josh Dahmen,
425/313-8254 |
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