SOURCE: Costco

April 08, 2010 03:01 ET

Costco Wholesale Corporation Reports March Sales Results

ISSAQUAH, WA--(Marketwire - April 8, 2010) -  Costco Wholesale Corporation ("Costco" or the "Company") (NASDAQ: COST) today reported net sales of $7.14 billion for the month of March, the five weeks ended April 4, 2010, an increase of twelve percent from $6.40 billion in the same five-week period last year. This year's five-week period for March included 34 days of sales compared to 35 last year; Easter fell in the reporting month of April last year. This calendar shift negatively impacted this year's March total and comparable sales by approximately one to two percent.

For the thirty-one weeks ended April 4, 2010, the Company reported net sales of $45.20 billion, an increase of nine percent from $41.48 billion during the similar period last year.

Comparable sales for the periods ended April 4, 2010, were as follows:

  5 Weeks   31 Weeks
U.S. 5%   3%
International 28%   21%
Total Company 10%   7%

Inflation in gasoline prices and strengthening foreign currencies had a positive impact on comparable sales. Excluding these effects, the March and year-to-date comparable sales were as follows:

  5 Weeks   31 Weeks
U.S. 2%   2%
International 7%   8%
Total Company 3%   3%

Additional discussion of these sales results is available in a pre-recorded telephone message. You can access the recording by dialing 1-800-642-1687 (conference ID 4418449). This recorded message will be available today through 5:00 p.m. (PT) on Friday, April 9, 2010.

Costco currently operates 567 warehouses, including 414 in the United States and Puerto Rico, 77 in Canada, 21 in the United Kingdom, seven in Korea, six in Taiwan, nine in Japan, one in Australia and 32 in Mexico. The Company also operates Costco Online, an electronic commerce web site, at and at in Canada. The Company plans to open up to six additional new warehouses prior to the end of its 2010 fiscal year on August 29, 2010.

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. 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, conditions affecting the acquisition, development, ownership or use of real estate, actions of vendors, rising costs associated with employees (including health care costs), geopolitical conditions and other risks identified from time to time in the Company's public statements and reports filed with the Securities and Exchange Commission. 

Contact Information

    Costco Wholesale Corporation

    Bob Nelson

    David Sherwood