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Costco Wholesale Corporation Reports April Sales Results
ISSAQUAH, Wash.--(BUSINESS WIRE)--May 4, 2000--Costco Wholesale Corporation ("Costco" or the "Company") (Nasdaq:COST) today reported net sales of $2.27 billion for the four weeks ended April 30, 2000, an increase of 13 percent from $2.01 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 9 percent. This year's four-week period included 27 days of sales compared to 28 days during the year-earlier period, reflecting the timing of Easter, which impacted sales negatively by approximately one to two percent.
For the first thirty-five weeks of its 2000 fiscal year ended April 30, 2000, the Company reported net sales of $20.61 billion, an increase of 16 percent from $17.76 billion during the first thirty-five weeks of the prior fiscal year. Comparable warehouse sales for this year-to-date period increased 12 percent over the prior year's level.
Costco currently operates 305 warehouses, including 231 in the United States, 59 in Canada, eight in the United Kingdom, three in Korea, three 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. The Company plans to open an additional 11 to 13 new warehouses (including two to three relocations of existing warehouses to larger and better-located facilities) prior to the end of its fiscal year 2000 on September 3, 2000.
CONTACTS: Costco Wholesale Corporation
Richard Galanti, 425/313-8203
Bob Nelson, 425/313-8255