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Costco Wholesale Corporation Reports Recent Sales Results
ISSAQUAH, Wash.--(BUSINESS WIRE)--Dec. 2, 1999--Costco Wholesale Corporation (the "Company") (Nasdaq:COST) today reported net sales of $2.46 billion for the four weeks ended November 28, 1999, an increase of 11 percent from $2.21 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 8 percent.
Last year's November sales included a significant increase in tobacco sales in the final week of the four-week November reporting period, due to major price increases announced by the tobacco manufacturers. Excluding these extra sales from the prior year's results, total sales and comparable sales increases for the current four-week November period would have been 14 percent and 11 percent, respectively.
For the first thirteen weeks of its fiscal year 2000 ended November 28, 1999, the Company reported net sales of $7.45 billion, an increase of 15 percent from $6.50 billion during the first thirteen weeks of the prior fiscal year. Comparable warehouse sales for this year-to-date period increased 11 percent over the prior year's level.
Costco currently operates 300 warehouses, including 228 in the United States, 59 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 two additional new warehouses in the U.S.
CONTACT: Costco Wholesale Corporation Richard Galanti, 425/313-8203 Bob Nelson, 425/313-8255