Costco Wholesale Corporation Reports January Sales Results
February 07 2024 - 4:15PM
Costco Wholesale Corporation (“Costco” or the “Company”) (Nasdaq:
COST) today reported net sales of $22.08 billion for the retail
month of January, the five weeks ended February 4, 2024 an increase
of 4.5 percent from $21.13 billion last year.
For the 22 weeks ended February 4, 2024, the
Company reported net sales of $104.94 billion, an increase of 6.0
percent from $99.00 billion for the 22 weeks of fiscal year 2023
ended January 29, 2023.
Comparable sales for the periods ended February
4, 2024 were as follows:
|
|
5 Weeks |
|
22 Weeks |
U.S. |
1.6% |
|
3.2% |
Canada |
6.2% |
|
7.9% |
Other International |
5.1% |
|
9.6% |
|
|
|
|
Total Company |
2.7% |
|
4.7% |
E-commerce |
21.0% |
|
12.1% |
|
Comparable sales excluding the impacts from
changes in gasoline prices and foreign exchange were as
follows:
|
|
5 Weeks |
|
22 Weeks |
U.S. |
2.2% |
|
3.7% |
Canada |
6.6% |
|
8.7% |
Other International |
6.3% |
|
7.2% |
|
|
|
|
Total Company |
3.4% |
|
4.8% |
E-commerce |
20.9% |
|
11.8% |
|
This year’s retail month of January had one less
shopping day due to the timing of New Year’s Day. This negatively
impacted total and comparable sales by approximately three to three
and one-half percent.
Additional discussion of these results is
available in a recorded message. It can be accessed by dialing
1-888-848-7292 or by visiting investor.costco.com (click on “Events
& Presentations”). This message will be available through 4:00
p.m. (PT) on Wednesday, February 14, 2024.
Costco currently
operates 874 warehouses, including 602 in the United States and
Puerto Rico, 108 in Canada, 40 in Mexico, 33 in Japan, 29 in the
United Kingdom, 18 in Korea, 15 in Australia, 14 in Taiwan, six in
China, four in Spain, two in France, and one each in Iceland, New
Zealand and Sweden. Costco also operates e-commerce sites in the
U.S., Canada, the U.K., Mexico, Korea, Taiwan, Japan and
Australia.
Certain statements contained in this document
and the pre-recorded 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, inflation or
deflation, 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 and the
Ukraine conflict), the ability to maintain effective internal
control over financial reporting, regulatory and other impacts
related to climate change, public-health related factors, 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. Comparable sales and
comparable sales excluding impacts from changes in gasoline prices
and foreign exchange are intended as supplemental information and
are not a substitute for net sales presented in accordance with
GAAP.
CONTACTS: |
|
Costco Wholesale Corporation |
|
|
Richard Galanti,
425/313-8203 |
|
|
David Sherwood,
425/313-8239 |
|
|
Josh Dahmen, 425/313-8254 |
COST-Sales
Costco Wholesale (NASDAQ:COST)
Historical Stock Chart
From Mar 2024 to Apr 2024
Costco Wholesale (NASDAQ:COST)
Historical Stock Chart
From Apr 2023 to Apr 2024