Costco Wholesale Corporation Reports January Sales Results
February 01 2023 - 4:15PM
Costco Wholesale Corporation (“Costco” or the “Company”) (Nasdaq:
COST) today reported net sales of $16.84 billion for the retail
month of January, the four weeks ended January 29, 2023, an
increase of 6.9 percent from $15.76 billion last year.
Lunar New Year/Chinese New Year occurred on
January 22, 10 days earlier this year. The shift negatively
impacted January’s Other International and Total Company sales by
approximately 2% and 0.25%, respectively.
For the 22 weeks ended January 29, 2023, the
Company reported net sales of $99.00 billion, an increase of 7.5
percent from $92.10 billion last year.
Comparable sales were as follows:
|
|
|
|
|
4 Weeks |
|
22 Weeks |
U.S. |
6.6% |
|
7.8% |
Canada |
2.4% |
|
3.0% |
Other International |
3.9% |
|
-0.2% |
|
|
|
|
Total Company |
5.6% |
|
6.0% |
|
|
|
|
E-commerce |
-15.4% |
|
-6.4% |
|
|
|
|
Comparable sales excluding the impacts from changes
in gasoline prices and foreign exchange were as follows:
|
|
|
|
|
4 Weeks |
|
22 Weeks |
U.S. |
6.9% |
|
6.4% |
Canada |
8.9% |
|
9.0% |
Other
International |
8.7% |
|
9.0% |
|
|
|
|
Total
Company |
7.4% |
|
7.1% |
|
|
|
|
E-commerce |
-14.4% |
|
-5.0% |
|
|
|
|
Additional discussion of these results is available
in a pre-recorded telephone message. It can be accessed by dialing
1-833-927-0473. This message will be available through 5:00 p.m.
(PT) on Wednesday, February 8, 2023.
Costco currently operates 848 warehouses,
including 584 in the United States and Puerto Rico, 107 in Canada,
40 in Mexico, 31 in Japan, 29 in the United Kingdom, 18 in Korea,
14 in Taiwan, 14 in Australia, four in Spain, two each in France
and China, and one each in Iceland, New Zealand and Sweden. 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, 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, COVID-19 related factors and challenges,
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 David
Sherwood, 425/313-8239 Josh Dahmen, 425/313-8254 |
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