SOURCE: Costco

November 30, 2016 21:00 ET

Costco Wholesale Corporation Reports November Sales Results

ISSAQUAH, WA--(Marketwired - Nov 30, 2016) - Costco Wholesale Corporation ("Costco" or the "Company") (NASDAQ: COST) today reported net sales of $9.95 billion for the month of November, the four weeks ended November 27, 2016, an increase of three percent from $9.68 billion during the similar period last year.

For the twelve-week first quarter ended November 20, 2016, the Company reported net sales of $27.47 billion, an increase of three percent from $26.63 billion during the first quarter last year.

For the thirteen weeks ended November 27, 2016, the Company reported net sales of $30.12 billion, an increase of three percent from $29.20 billion during the similar period last year.

Comparable sales were as follows:

             
    4 Weeks   12 Weeks   13 Weeks
U.S.   1%   1%   1%
Canada   1%   4%   4%
Other International   -2%   0%   -1%
             
  Total Company   1%   1%   1%
               

Comparable sales for these periods excluding the impacts from changes in gasoline prices and foreign exchange were as follows:

             
    4 Weeks   12 Weeks   13 Weeks
U.S.   1%   1%   1%
Canada   3%   5%   4%
Other International   4%   3%   2%
             
  Total Company   2%   2%   2%
               

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 57709095). This message will be available today through 5:00 p.m. (PT) on Wednesday, December 7, 2016.

The Company plans to release its operating results for the first quarter of fiscal 2017 ended November 20, 2016, on December 7, 2016. A conference call to discuss these results is scheduled for 2:00 p.m. (PT) that day, and will be available via webcast on www.costco.com (click on Investor Relations and "webcasts").

Costco currently operates 723 warehouses, including 506 in the United States and Puerto Rico, 94 in Canada, 36 in Mexico, 28 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
    425/313-8256

    Bob Nelson
    425/313-8255

    Jeff Elliott
    425/313-8264

    David Sherwood
    425/313-8239