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Costco Wholesale Corporation Reports November Sales Results
ISSAQUAH, WA, Dec 02, 2010 (MARKETWIRE via COMTEX) --
Costco Wholesale Corporation ("Costco" or the "Company") (NASDAQ: COST) today reported net sales of $6.78 billion for the month of November, the four weeks ended November 28, 2010, an increase of 12 percent from $6.04 billion during the similar period last year. This year's four-week period included sales from the Company's Mexico joint venture, as the Company began consolidating its Mexico operations on a prospective basis beginning with its 2011 fiscal year (on August 30, 2010); without those sales the increase would have been nine percent.
For the thirteen weeks of its reporting period ended November 28, 2010, the Company reported net sales of $20.59 billion, an increase of 11 percent from $18.57 billion during the similar period last year; excluding Mexico sales, the increase would have been eight percent.
Comparable sales for the four-week and thirteen-week periods ended November 28, 2010, including Mexico operations for last year and this year, were as follows:
4 Weeks 13 Weeks -------- -------- U.S. 7% 4% International 13% 14% Total Company 9% 7% ======== ========
Inflation in gasoline prices and strengthening foreign currencies had a positive impact on comparable sales. Excluding these effects, comparable sales for the four-week and thirteen-week periods were as follows:
4 Weeks 13 Weeks -------- -------- U.S. 6% 3% International 8% 10% Total Company 6% 5% ======== ========
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 44184979). This message will be available today through 5:00 p.m. (PT) on Friday, December 3, 2010.
The Company plans to release its operating results for the first quarter (12 weeks) of its 2011 fiscal year ended November 21, 2010 on Wednesday, December 8, 2010. A conference call to discuss these results is scheduled for 8:00 a.m. (PT) that day and will be available via webcast on www.costco.com.
Costco currently operates 582 warehouses, including 425 in the United States and Puerto Rico, 80 in Canada, 22 in the United Kingdom, seven in Korea, six in Taiwan, nine in Japan, one in Australia and 32 in Mexico. The Company also operates Costco Online, an electronic commerce web site, at www.costco.com and at www.costco.ca in Canada.
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), 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