SOURCE: Costco

July 06, 2016 21:00 ET

Costco Wholesale Corporation Reports June Sales Results

ISSAQUAH, WA--(Marketwired - Jul 6, 2016) - Costco Wholesale Corporation ("Costco" or the "Company") (NASDAQ: COST) today reported net sales of $11.33 billion for the month of June, the five weeks ended July 3, 2016, an increase of three percent from $11.03 billion during the similar period last year. The five-week June reporting periods included 34 selling days in both years for the U.S. and Canada.

For the forty-four weeks ended July 3, 2016, the Company reported net sales of $98.51 billion, an increase of two percent from $96.33 billion during the similar period last year.

Comparable sales for the five-week and forty-four week periods ended July 3, 2016, were as follows:

         
    5 Weeks   44 Weeks
U.S.   0 %   2 %
Canada   1 %   -4 %
Other International   -3 %   -4 %
             
Total Company   0 %   0 %
             

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

         
    5 Weeks   44 Weeks
U.S.   2 %   4 %
Canada   7 %   9 %
Other International   2 %   4 %
             
Total Company   3 %   5 %
             

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 57699328). This message will be available today through 5:00 p.m. (PT) on Wednesday, July 13, 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
    Jeff Elliott
    425/313-8264
    David Sherwood
    425/313-8239