Costco Wholesale Corporation Reports May Sales Results
June 05 2019 - 4:15PM
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:
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4 Weeks |
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39 Weeks |
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U.S. |
5.7% |
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8.3% |
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Canada |
-0.3% |
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0.9% |
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Other International |
0.9% |
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2.0% |
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Total Company |
4.2% |
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6.3% |
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E-commerce |
20.2% |
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24.2% |
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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:
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4 Weeks |
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39 Weeks |
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U.S. |
4.4% |
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6.7% |
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Canada |
3.9% |
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5.3% |
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Other International |
4.8% |
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5.7% |
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Total Company |
4.3% |
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6.3% |
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E-commerce |
19.9% |
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23.5% |
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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 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.
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CONTACTS: |
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Costco Wholesale Corporation |
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Richard Galanti, 425/313-8203 |
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Bob Nelson, 425/313-8255 |
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David Sherwood, 425/313-8239 |
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Josh Dahmen, 425/313-8254 |
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