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Costco Wholesale Corporation Reports June Sales Results
ISSAQUAH, WA, Jul 07, 2011 (MARKETWIRE via COMTEX) --
Costco Wholesale Corporation ("Costco" or the "Company") (NASDAQ: COST) today reported net sales of $8.69 billion for the month of June, the five weeks ended July 3, 2011, an increase of 18 percent from $7.33 billion during the similar period last year. This year's five-week period included 34 days in the U.S. (U.S. warehouses closed Memorial Day) versus 33 days last year (U.S. warehouses closed Memorial Day and Independence Day). The calendar shift positively impacted this year's total and comparable sales by approximately two to three percent (three percent in the U.S.). Also, this year's five-week period included sales from the Company's Mexico joint venture; otherwise the net sales increase would have been 15 percent.
For the forty-four weeks ended July 3, 2011, the Company reported net sales of $73.44 billion, an increase of 14 percent from $64.51 billion during the similar period last year; excluding Mexico sales, the increase would have been 11 percent.
Comparable sales for the five-week and forty-four-week periods ended July 3, 2011, including Mexico operations for last year and this year, were as follows:
5 Weeks 44 Weeks ------- -------- U.S. 12% 7% International 18% 16% Total Company 14% 9% ======= ========
Inflation in gasoline prices and strengthening foreign currencies had a positive impact on comparable sales. Excluding these effects, comparable sales for the five-week and forty-four-week periods were as follows:
5 Weeks 44 Weeks ------- -------- U.S. 8% 5% International 9% 10% Total Company 8% 6% ======= ========
Additional discussion of these sales results is available in a pre-recorded telephone message. You can access the recording by dialing 1-800-642-1687 (conference ID 25103423). This message will be available today through 5:00 p.m. (PT) on Friday, July 8, 2011.
Costco currently operates 584 warehouses, including 427 in the United States and Puerto Rico, 81 in Canada, 32 in Mexico, 22 in the United Kingdom, eight in Japan, seven in Korea, six in Taiwan and one 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 eight additional warehouses prior to the end of its 2011 fiscal year on August 28, 2011.
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 Richard Galanti 425/313-8203 Bob Nelson 425/313-8255 Jeff Elliott 425/313-8264