Costco Wholesale Corporation Reports February, Second Quarter and Year-to-Date Sales Results
ISSAQUAH, WA -- (Marketwire) -- 03/07/13 -- Costco Wholesale Corporation (COST) (NASDAQ: COST) today reported net sales of $7.58 billion for the month of February, the four weeks ended March 3, 2013, an increase of eight percent from $7.01 billion during the similar period last year.
For the twenty-six weeks ended March 3, 2013, the Company reported net sales of $51.35 billion, an increase of nine percent from $47.22 billion during the similar period last year.
Comparable sales for the four-week and 26-week periods ended March 3, 2013, were as follows:
4 Weeks 26 Weeks ---------- ---------- U.S. 6% 6% International 4% 7% Total Company 6% 6% ========== ==========
Inflation in gasoline prices had a positive impact on comparable sales for both periods. Changes in foreign exchange had a negative impact for the four-week period, but a positive impact for the 26-week period. Excluding these effects, comparable sales were as follows:
4 Weeks 26 Weeks ---------- ---------- U.S. 6% 6% International 7% 5% Total Company 6% 5% ========== ==========
The Company today also reported net sales for the second quarter (twelve weeks) and first half (24 weeks) of fiscal 2013, ended February 17, 2013. Net sales for the quarter increased eight percent, to $24.34 billion, from $22.51 billion last year. Net sales for the first half increased nine percent, to $47.55 billion, from $43.69 billion last year.
Comparable sales were as follows:
12 Weeks 24 Weeks ---------- ---------- U.S. 5% 6% International 6% 7% Total Company 5% 6% ========== ==========
Inflation in gasoline prices and stronger foreign currencies had positive impacts on comparable sales for both reporting periods. Excluding these effects, comparable sales were as follows:
12 Weeks 24 Weeks ---------- ---------- U.S. 5% 6% International 4% 5% Total Company 5% 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 92095201). This message will be available today through 5:00 p.m. (PT) on Friday, March 8, 2013.
On March 12, 2013, the Company plans to report its operating results for the second quarter and first half of fiscal year 2013, ended February 17, 2013. A conference call to discuss these results is scheduled for 8:00 a.m. (PT) that day and will be available via web-cast on www.costco.com (click on Investor Relations and "Play webcast").
Costco currently operates 622 warehouses, including 448 in the United States and Puerto Rico, 85 in Canada, 32 in Mexico, 23 in the United Kingdom, 13 in Japan, nine in Taiwan, nine in Korea and three in Australia. The Company plans to open up to an additional fourteen new warehouses prior to the end of its fiscal year on September 1, 2013. Costco also operates electronic commerce web sites, at www.costco.com (U.S.), www.costco.ca (Canada), and www.costco.co.uk (United Kingdom).
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.
CONTACTS: Costco Wholesale Corporation Jeff Elliott 425/313-8264 David Sherwood 425/313-8239