SOURCE: Costco

April 05, 2012 03:01 ET

Costco Wholesale Corporation Reports March Sales Results

ISSAQUAH, WA--(Marketwire - Apr 5, 2012) - Costco Wholesale Corporation (NASDAQ: COST) today reported net sales of $9.13 billion for the month of March, the five weeks ended April 1, 2012, an increase of 10 percent from $8.33 billion during the similar period last year.

For the first thirty-one weeks of its reporting period ended April 1, 2012, the Company reported net sales of $56.34 billion, an increase of 11 percent from $50.79 billion during the similar period last year.

Comparable sales for these periods were as follows:

5 Weeks 31 Weeks
U.S. 6% 8%
International 7% 9%
Total Company 6% 8%

Inflation in gasoline prices had a positive impact on comparable sales, particularly for the thirty-one week period; foreign currencies had a negative impact for both periods. Excluding these effects, comparable sales for these periods were as follows:

5 Weeks 31 Weeks
U.S. 5% 6%
International 9% 10%
Total Company 6% 7%

Additional discussion of these sales results is available in a pre-recorded telephone message. You can access the recording by dialing 1-855-859-2056 (conference ID 28780018). This message will be available today through 5:00 p.m. (PT) on Friday, April 6, 2012.

Costco currently operates 601 warehouses, including 434 in the United States and Puerto Rico, 82 in Canada, 32 in Mexico, 22 in the United Kingdom, 13 in Japan, eight in Taiwan, seven in Korea and three in Australia. 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 an additional eight new warehouses prior to the end of its fiscal year on September 2, 2012.

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), 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

    David Sherwood
    425/313-8239