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Costco Wholesale Corporation Reports May Sales Results
ISSAQUAH, WA, Jun 03, 2010 (MARKETWIRE via COMTEX) --Costco Wholesale Corporation ("Costco" or the "Company") (NASDAQ: COST) today reported net sales of $6.09 billion for the month of May, the four weeks ended May 30, 2010, an increase of eleven percent from $5.47 billion in the same four-week period last year. In the U.S., this year's four-week period for May included 28 days of sales compared to 27 last year; the Memorial Day holiday fell in the reporting month of May last year but not this year. The holiday shift positively impacted this year's May total and comparable sales by approximately two percent (three percent in the U.S.).
For the thirty-nine weeks ended May 30, 2010, the Company reported net sales of $57.17 billion, an increase of ten percent from $52.15 billion during the similar period last year.
Comparable sales for the periods ended May 30, 2010, were as follows:
4 Weeks 39 Weeks ------- -------- U.S. 7% 4% International 17% 21% Total Company 9% 7% ======= ========
Inflation in gasoline prices and strengthening foreign currencies had a positive impact on comparable sales. Excluding these effects, the May and year-to-date comparable sales were as follows:
4 Weeks 39 Weeks ------- -------- U.S. 5% 2% International 9% 9% Total Company 5% 3% ======= ========
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 44184981). This message will be available today through 5:00 p.m. (PT) on Friday, June 4, 2010.
Costco currently operates 568 warehouses, including 414 in the United States and Puerto Rico, 78 in Canada, 21 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 new warehouses prior to the end of its fiscal year on August 29, 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.
Costco Wholesale Corporation