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Costco Wholesale Corporation Reports July Sales Results
ISSAQUAH, Wash.--(BUSINESS WIRE)--August 3, 2000--Costco Wholesale Corporation ("Costco" or the "Company") (Nasdaq:COST) today reported net sales of $2.43 billion for the four weeks ended July 30, an increase of 13 percent from $2.15 billion in the same four-week period of the prior fiscal year. On a comparable warehouse basis, that is warehouses open at least a year, sales increased 9 percent. This year's four-week period included 27 days of sales compared to 28 days during the year-earlier period, reflecting the timing of the Fourth of July holiday, which impacted sales negatively by approximately two percent.
For the first forty-eight weeks of its 2000 fiscal year ended July 30, 2000, the Company reported net sales of $28.52 billion, an increase of 15 percent from $24.79 billion during the first forty-eight weeks of the prior fiscal year. Comparable warehouse sales for this year-to-date period increased 11 percent over the prior year's level.
Costco currently operates 312 warehouses, that includes 237 in the United States, 59 in Canada, nine in the United Kingdom, three in Korea, three in Taiwan, and a warehouse in Japan. In addition, Costco operates 18 warehouses in Mexico with a joint venture partner. The Company also operates Costco Online, an electronic commerce web site, at www.costco.com. The Company plans to open two additional new warehouses (including a relocation of one existing warehouse to a larger and better-located facility) prior to the end of its fiscal year 2000 on September 3, 2000.
CONTACT: Costco Wholesale Corporation
Richard Galanti, 425/313-8203
Bob Nelson, 425/313-8255