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Costco Wholesale Corporation Reports November Sales Results

ISSAQUAH, Wash., Nov. 29, 2017 (GLOBE NEWSWIRE) -- Costco Wholesale Corporation (“Costco” or the “Company”) (Nasdaq:COST) today reported net sales of $11.26 billion for the month of November, the four weeks ended November 26, 2017, an increase of 13.2 percent from $9.95 billion during the similar period last year.

For the twelve-week first quarter of fiscal year 2018 ended November 26, 2017, the Company reported net sales of $31.13 billion, an increase of 13.3 percent from $27.47 billion reported in the twelve-week first quarter of fiscal 2017.

While this year’s twelve-week first quarter included one less sales day than the first quarter last year (due to the shift of the Thanksgiving closure this year), pre-Thanksgiving and Black Friday/holiday weekend sales fell into the first quarter this year compared to the second quarter last year. Combined, these factors produced an estimated net benefit of approximately 1.5% in the U.S., and slightly less worldwide.

Comparable sales for the four-week retail month and for the twelve-week first quarter of our 2018 fiscal year, both ended November 26, 2017, were as follows:

 
      4 Weeks   12 Weeks
    Retail Month   Fiscal Year
  U.S. 10.2%   10.3%
  Canada 13.8%   11.3%
  Other International 11.1%   10.1%
         
  Total Company 10.8%   10.5%
   

E-commerce
 

39.0%
   

43.6%
 

Comparable sales for these periods excluding the impacts from changes in gasoline prices and foreign exchange were as follows:

 
      4 Weeks   12 Weeks
    Retail Month   Fiscal Year
  U.S. 8.4%   8.7%
  Canada 6.3%   4.3%
  Other International 7.2%   8.2%
         
  Total Company 7.9%   7.9%
 

Additional discussion of these results is available in a pre-recorded telephone message. The recording can be accessed by dialing 1-855-859-2056 (conference ID 92708888). This message will be available today through 5:00 p.m. (PT) on Wednesday, December 6, 2017.

Costco currently operates 746 warehouses, including 518 in the United States and Puerto Rico, 98 in Canada, 37 in Mexico, 28 in the United Kingdom, 26 in Japan, 13 in Korea, 13 in Taiwan, nine in Australia, two in Spain, one in Iceland and one in France. Costco also operates electronic commerce web sites in the U.S., Canada, the United Kingdom, Mexico, Korea and Taiwan.

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, breaches of security or privacy of member or business information, conditions affecting the acquisition, development, ownership or use of real estate, capital spending, actions of vendors, rising costs associated with employees (generally 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. 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.

CONTACTS:   Costco Wholesale Corporation
                        Richard Galanti, 425/313-8203
                        Bob Nelson, 425/313-8255
                        David Sherwood, 425/313-8239

Costco Wholesale Corporation