SOURCE: Costco

July 08, 2010 03:01 ET

Costco Wholesale Corporation Reports June Sales Results

ISSAQUAH, WA--(Marketwire - July 8, 2010) -  Costco Wholesale Corporation ("Costco" or the "Company") (NASDAQ: COST) today reported net sales of $7.33 billion for the month of June, the five weeks ended July 4, 2010, an increase of seven percent from $6.87 billion in the same five-week period last year. This year's five-week period included 33 days in the U.S. (closed Memorial Day and Independence Day) versus 34 days last year (closed Independence Day; Memorial Day was in the May reporting period). The Memorial Day holiday shift negatively impacted this year's total and comparable sales by approximately two percent (two to three percent in the U.S.).

For the forty-four weeks ended July 4, 2010, the Company reported net sales of $64.50 billion, an increase of nine percent from $59.02 billion during the similar period last year.

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

           
    5 Weeks   44 Weeks  
  U.S. 2%   4%  
  International 14%   20%  
           
  Total Company 4%   7%  
           

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

    5 Weeks   44 Weeks  
  U.S. 1%   2%  
  International 8%   9%  
           
  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 44186621). This message will be available today through 5:00 p.m. (PT) on Friday, July 9, 2010.

Costco currently operates 569 warehouses, including 415 in the United States and Puerto Rico, 78 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 www.costco.com and at www.costco.ca in Canada. The Company plans to open up to three additional new warehouses prior to the end of its 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

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