SOURCE: Costco

May 04, 2006 03:01 ET

Costco Wholesale Corporation Reports April Sales Results

ISSAQUAH, WA -- (MARKET WIRE) -- May 4, 2006 -- Costco Wholesale Corporation (NASDAQ: COST) today reported net sales of $4.39 billion for the four weeks ended April 30, 2006, an increase of 11 percent from $3.94 billion in the same four-week period of the prior fiscal year. For the first thirty-five weeks of its fiscal year ended April 30, 2006, the Company reported net sales of $38.30 billion, an increase of 11 percent from $34.43 billion during the similar thirty-five-week period of the prior fiscal year.

Comparable sales for the 4-week and 35-week periods ended April 30, 2006, were as follows:

                         4 Weeks   35 Weeks
US                           7%       8%
International                7%       9%
Total Company                7%       8%

This year's four-week period included 27 days of sales compared to 28 days last year, reflecting the timing of Easter. This calendar shift impacted sales negatively by approximately two percent.

Additional discussion of these sales results is available on a pre-recorded telephone message. You can access the recording by dialing 1-800-642-1687 (conference ID# 5367825). This recorded message will be available today through 5:00 p.m. (PT) on Friday, May 5, 2006.

As previously announced, the Company plans to release its third quarter fiscal year 2006 operating results, for the twelve weeks ended May 7, 2006, on Wednesday, May 31, 2006. A conference call to discuss these third quarter results is scheduled for 8:00 a.m. (PT) on May 31 and will be available via a webcast on www.costco.com (click on Investor Relations and "Webcasts").

Costco currently operates 476 warehouses, including 349 in the United States and Puerto Rico, 68 in Canada, 17 in the United Kingdom, five in Korea, four in Taiwan, five in Japan and 28 in Mexico. The Company also operates Costco Online, an electronic commerce web site, at www.costco.com and at www.costco.ca in Canada. The Company plans to open an additional 14 to 16 new warehouses, including the relocation of one warehouse to a larger and better-located facility, prior to the end of its 53-week 2006 fiscal year ending on September 3, 2006.

Certain statements contained in this document 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, 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 and workers' compensation costs), rising costs associated with the acquisition of merchandise (including the direct and indirect effects of the rising cost of petroleum-based products and fuel and energy 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

  • CONTACTS:
    Costco Wholesale Corporation
    Bob Nelson
    425/313-8255

    Jeff Elliott
    425/313-8264