ISSAQUAH, WA--(Marketwire - September 2, 2010) - Costco Wholesale Corporation ("Costco" or the "Company") (
Net sales for the fiscal 2010 fourth quarter, the 16 weeks ended August 29, 2010, were $23.6 billion, an increase of eight percent from $21.9 billion in the 16-week fourth quarter of fiscal 2009 ended August 30, 2009.
Net sales for the 52-week fiscal year 2010 were $76.3 billion, an increase of nine percent from $69.9 billion in the 52-week fiscal year 2009 ended August 30, 2009.
Comparable sales for the periods ended August 29, 2010, were as follows:
| 4 Weeks | 16 Weeks | 52 Weeks | |||||
| U.S. | 6% | 4% | 4% | ||||
| International | 11% | 14% | 19% | ||||
| Total Company | 7% | 6% | 7% | ||||
Inflation in gasoline prices and strengthening foreign currencies had a positive impact on comparable sales. Excluding these effects, comparable sales for the four-week, 16-week, and 52-week periods were as follows:
| 4 Weeks | 16 Weeks | 52 Weeks | |||||
| U.S. | 5% | 3% | 2% | ||||
| International | 7% | 8% | 8% | ||||
| Total Company | 5% | 4% | 4% | ||||
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 44187322). This message will be available today through 5:00 p.m. (PT) on Friday, September 3, 2010.
The Company plans to release its operating results for the fourth quarter (16 weeks) and for the fiscal year (52 weeks) ended August 29, 2010, on October 6, 2010. The retail sales results for the month of September will also be announced on that date. A conference call to discuss these results is scheduled for 7:00 a.m. (PT) that day and will be available via webcast on www.costco.com (click on Investor Relations and "webcasts").
Costco ended its 52-week fiscal year 2010 on August 29, 2010 with 572 warehouses in operation, including 416 in the United States and Puerto Rico, 79 in Canada, 22 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 www.costco.com and at www.costco.ca in Canada. The Company plans to open up to ten additional warehouses in the first four months of fiscal 2011, prior to the end of calendar year 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:
CONTACTS:
Costco Wholesale Corporation
Richard Galanti
425/313-8203
Bob Nelson
425/313-8255
Jeff Elliott
425/313-8264