SOURCE: Costco

September 04, 2014 03:01 ET

Costco Wholesale Corporation Reports August, Fourth Quarter and Fiscal Year 2014 Sales Results

ISSAQUAH, WA--(Marketwired - Sep 4, 2014) -  Costco Wholesale Corporation ("Costco" or the "Company") (NASDAQ: COST) today reported net sales of $8.8 billion for the month of August, the four weeks ended August 31, 2014, an increase of ten percent from $8.0 billion during the similar period last year.

For the 16-week fourth quarter, the Company reported net sales of $34.8 billion, an increase of nine percent from $31.8 billion in the fourth quarter of fiscal year 2013, ended September 1, 2013.

For the 52-week fiscal year ended August 31, 2014, the Company reported net sales of $110.2 billion, an increase of seven percent from the $102.9 billion reported in fiscal year 2013, ended September 1, 2013.

Comparable sales were as follows:

             
  4 Weeks   16 Weeks   52 Weeks  

U.S.

7%
 
6%
 
5%
 
International 6%   6%   3%  
             
Total Company 7%   6%   4%  
             

Comparable sales for these periods, excluding negative impacts from gasoline price deflation and foreign exchange, were as follows:

             
  4 Weeks   16 Weeks   52 Weeks  

U.S.

7%
 
6%
 
5%
 
International 8%   8%   7%  
             
Total Company 8%   7%   6%  
             

Additional discussion of these results is available in a pre-recorded telephone message. The recording can be accessed by dialing 1-855-859-2056 (conference ID 96621738). This message will be available today through 5:00 p.m. (PT) on September 5, 2014.

The Company plans to release its operating results for the fourth quarter and fiscal year ended August 31, 2014, on October 8, 2014. A conference call to discuss these results is scheduled for 8:00 a.m. (PT) that day and will available via webcast on www.costco.com (click on Investor Relations and "webcasts").

Costco ended its fiscal year 2014 with 663 warehouses in operation, including 468 in the United States and Puerto Rico, 88 in Canada, 33 in Mexico, 26 in the United Kingdom, 20 in Japan, 11 in Korea, 10 in Taiwan, six in Australia and one in Spain. The Company plans to open up to an additional nine new warehouses (including one relocation) before the end of calendar year 2014. Costco also operates electronic commerce web sites in the U.S., Canada, the United Kingdom and Mexico.

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, breaches of security or privacy of member or business information, conditions affecting the acquisition, development, ownership or use of real estate, amounts expected to be spent on expansion plans, actions of vendors, rising costs associated with employees (including health care costs), energy, and certain commodities, 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

    David Sherwood
    425/313-8239