SOURCE: Costco

August 03, 2016 21:00 ET

Costco Wholesale Corporation Reports July Sales Results

ISSAQUAH, WA--(Marketwired - Aug 3, 2016) - Costco Wholesale Corporation ("Costco" or the "Company") (NASDAQ: COST) today reported net sales of $8.65 billion for the month of July, the four weeks ended July 31, 2016, compared to $8.64 billion during the similar period last year. Due to the timing of the Independence Day holiday, this year's July results included one less sales day in the U.S. than last year. This shift negatively impacted total Company sales by an estimated 2.5% (3.5% in the U.S.). 

For the forty-eight weeks ended July 31, 2016, the Company reported net sales of $107.16 billion, an increase of two percent from $104.95 billion during the similar period last year.

Comparable sales for the four-week and forty-eight week periods ended July 31, 2016, were as follows:

             
    4 Weeks   48 Weeks
U.S.  
-3
%  
1
%
Canada   3 %   -4 %
Other International   -2 %   -4 %
             
Total Company   -2 %   0 %
             

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

             
    4 Weeks    48 Weeks 
U.S.  
0
%  
4
%
Canada   6 %   8 %
Other International   2 %   4 %
             
Total Company   1 %   4 %
             

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 57701033). This message will be available today through 5:00 p.m. (PT) on Wednesday, August 10, 2016.

Costco currently operates 708 warehouses, including 496 in the United States and Puerto Rico, 90 in Canada, 36 in Mexico, 27 in the United Kingdom, 25 in Japan, 12 in Korea, 12 in Taiwan, eight in Australia and two in Spain. Costco also operates electronic commerce web sites in the U.S., Canada, the United Kingdom, Mexico, Korea and Taiwan.

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, capital spending, actions of vendors, rising costs associated with employees (generally 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. Forward-looking statements speak only as of the date they are made, and we do not undertake to update these statements, except as required by law.

Contact Information

  • CONTACTS:
    Costco Wholesale Corporation
    Richard Galanti
    425/313-8203
    Bob Nelson
    425/313-8255
    Jeff Elliott
    425/313-8264
    David Sherwood
    425/313-8239