Costco Wholesale Corporation (COST) on Q4 2020 Results - Earnings Call Transcript

Sep. 25, 2020 1:56 AM ETCostco Wholesale Corporation (COST)1 Comment
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Costco Wholesale Corporation (NASDAQ:COST) Q4 2020 Earnings Conference Call September 24, 2020 5:00 PM ET

Company Representatives

Richard Galanti - Executive Vice President, Chief Financial Officer

Conference Call Participants

Simeon Gutman - Morgan Stanley

Chris Horvers - JPMorgan

Chuck Grom - Gordon Haskett

Karen Short - Barclays

Michael Lasser - UBS

Paul Lejuez - Citi

Oliver Chen - Cowen

John Heinbockel - Guggenheim Partners

Scott Mushkin - R5 Capital

Rupesh Parikh - Oppenheimer

Scot Ciccarelli - RBC Capital

Mike Baker - D.A. Davidson

Peter Benedict - Baird

Kelly Bania - BMO Capital

Laura Champine - Loop Capital

Blake Anderson - Jefferies

Greg Melich - Evercore ISI

Robert Moskow - Credit Suisse


Ladies and gentlemen, thank you for standing by and welcome to the Costco Q4 Earnings Call. At this time all participants are in a listen-only mode. After the speakers' presentation, there will be a question-and-answer session. [Operator Instructions].

I would now like to hand the conference over to Richard Galanti. Please go ahead.

Richard Galanti

Thank you, Laurie, and good afternoon to everyone. I will start by stating that these discussions will include forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements involve risks and uncertainties that may cause actual events, results and/or performance to differ materially from those indicated by such statements.

The risks and uncertainties include, but are not limited to those outlined in today's call, as well as other risks identified from time to time in the company's public statements and reports filed with the SEC. Forward-looking statements speak only as of the date they are made and the company does not undertake to update these statements, except as required by law.

In today's press release, we reported operating results for the fourth quarter and fiscal year 2020, the 16

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