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Costco Wholesale Corporation Reports Recent Sales Results
ISSAQUAH, Wash.--(BUSINESS WIRE)--Nov. 4, 1999--Costco Wholesale Corporation (the "Company") (Nasdaq:COST) today reported net sales of $2.29 billion for the four weeks ended October 31, 1999, an increase of 17 percent from $1.96 billion in the same four-week period of the prior fiscal year. On a comparable warehouse basis, that is warehouses open at least a year, sales increased 14 percent.
For the first nine weeks of its fiscal year 2000 ended October 31, 1999, the Company reported net sales of $4.99 billion, an increase of 16 percent from $4.29 billion during the first nine weeks of the prior fiscal year. Comparable warehouse sales for this year-to-date period increased 13 percent over the prior year's level.
Costco currently operates 295 warehouses, including 224 in the United States, 58 in Canada, seven in the United Kingdom, three in Korea, two in Taiwan, and a warehouse in Japan; as well as 17 additional warehouses in Mexico with a joint venture partner. The Company also operates Costco Online, an electronic commerce web site, at www.costco.com. Expansion plans for the remainder of the 1999 calendar year include opening seven additional new warehouses in the U.S. and Canada.