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Costco Wholesale Corporation Reports June Sales Results
ISSAQUAH, Wash.--(BUSINESS WIRE)--July 6, 2000--Costco Wholesale Corporation ("Costco" or the "Company") (Nasdaq:COST) today reported net sales of $3.10 billion for the five weeks ended July 2, an increase of 13 percent from the $2.73 billion in the same five-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 five-week period included one more selling day than the prior year, reflecting the timing of the Fourth of July holiday, which benefited sales by approximately 2%.
For the first forty-four weeks of its 2000 fiscal year ended July 2, 2000, the Company reported net sales of $26.09 billion, an increase of 15 percent from $22.64 billion during the first forty-four 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 309 warehouses, that includes 235 in the United States, 59 in Canada, eight in the United Kingdom, three in Korea, three in Taiwan, and a warehouse in Japan. In addition, Costco operates 18 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 seven additional new warehouses (including relocations of two existing warehouses to larger and better-located facilities) prior to the end of its fiscal year 2000 on September 3, 2000.
CONTACT: Costco Wholesale Corporation
Richard Galanti, 425/313-8203
Bob Nelson, 425/313-8255