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Costco Wholesale Corporation Reports October Sales Results
ISSAQUAH, WA, Nov 04, 2010 (MARKETWIRE via COMTEX) --
Costco Wholesale Corporation ("Costco" or the "Company") (NASDAQ: COST) today reported net sales of $6.30 billion for the month of October, the four weeks ended October 31, 2010, an increase of eleven percent from $5.69 billion during the similar four-week 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 eight percent.
For the first nine weeks of its reporting period ended October 31, 2010, the Company reported net sales of $13.81 billion, an increase of ten percent from $12.53 billion during the similar period last year; excluding Mexico sales the increase would have been seven percent.
Comparable sales for the four-week and nine-week periods ended October 31, 2010, including Mexico operations for both last year and this year, were as follows:
4 Weeks 9 Weeks -------- -------- U.S. 4% 3% International 14% 14% Total Company 6% 6% ======== ========
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 nine-week periods were as follows:
4 Weeks 9 Weeks -------- -------- U.S. 3% 2% International 10% 10% Total Company 5% 4% ======== ========
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 44187672). This message will be available today through 5:00 p.m. (PT) on Friday, November 5, 2010.
Costco currently operates 577 warehouses, including 420 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. The Company plans to open up to five additional warehouses in the next two months, prior to the end of calendar year 2010.
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 Bob Nelson 425/313-8255 Jeff Elliott 425/313-8264