Costco Wholesale Corporation Reports August Sales Results
September 02 2020 - 4:15PM
Costco Wholesale Corporation (“Costco” or the “Company”) (Nasdaq:
COST) today reported net sales of $13.56 billion for the retail
month of August, the four weeks ended August 30, 2020, an increase
of 15.0 percent from $11.79 billion last year.
For the 16-week fourth quarter ended August 30,
2020, the Company reported net sales of $52.3 billion, an increase
of 12.7 percent compared to net sales of $46.4 billion during the
similar period last year.
For the 52-week fiscal year ended August 30,
2020, the Company reported net sales of $163.2 billion, an increase
of 9.2 percent from the $149.4 billion during the similar period
last year.
Comparable sales were as follows:
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4 Weeks |
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16 Weeks |
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52 Weeks |
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Retail Month |
|
Fourth Quarter |
|
Fiscal Year |
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|
|
|
|
|
|
|
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|
U.S. |
12.5% |
|
11.0% |
|
8.1% |
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Canada |
14.6% |
|
9.1% |
|
5.0% |
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|
Other International |
16.1% |
|
16.1% |
|
8.9% |
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Total Company |
13.2% |
|
11.4% |
|
7.7% |
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E-commerce |
101.9% |
|
90.6% |
|
49.5% |
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|
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Comparable sales excluding the impacts from change in gasoline
prices and foreign exchange were as follows:
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4 Weeks |
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16 Weeks |
|
52 Weeks |
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|
Retail Month |
|
Fourth Quarter |
|
Fiscal Year |
|
|
|
|
|
|
|
|
|
|
U.S. |
14.3% |
|
13.6% |
|
9.2% |
|
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Canada |
15.0% |
|
12.6% |
|
7.4% |
|
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Other International |
15.4% |
|
18.8% |
|
11.2% |
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Total Company |
14.5% |
|
14.1% |
|
9.2% |
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|
|
|
|
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E-commerce |
101.6% |
|
91.3% |
|
50.1% |
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August sales were negatively impacted by the
shift of Labor Day. The estimated negative impact on August net and
comparable sales was approximately 75 bps in the U.S., and a little
more than 50 bps worldwide.
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 6899287). This message
will be available through 5:00 p.m. (PT) on Wednesday, September 9,
2020.
Costco currently operates 795 warehouses,
including 552 in the United States and Puerto Rico, 101 in Canada,
39 in Mexico, 29 in the United Kingdom, 27 in Japan, 16 in Korea,
13 in Taiwan, 12 in Australia, three 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, the unknown
long-term economic impact, reduced shopping due to illness, travel
restrictions or financial hardship, shifts in demand away from
discretionary or higher-priced products, reduced workforce due to
illness, quarantine, or government mandates, temporary store
closures due to reduced workforces or government mandates, or
supply-chain disruptions, 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
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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