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July 7, 2022 at 4:15 PM EDT

Costco Wholesale Corporation Reports June Sales Results

ISSAQUAH, Wash., July 07, 2022 (GLOBE NEWSWIRE) -- Costco Wholesale Corporation (“Costco” or the “Company”) (Nasdaq: COST) today reported net sales of $22.78 billion for the retail month of June, the five weeks ended July 3, 2022, an increase of 20.4 percent from $18.92 billion last year.

For the forty-four weeks ended July 3, 2022, the Company reported net sales of $188.34 billion, an increase of 16.9 percent from $161.09 billion during the similar period last year.

Comparable sales were as follows:

         
    5 Weeks   44 Weeks
  U.S. 21.5%   16.6%
  Canada 14.2%   15.9%
  Other International 4.7%   7.4%
         
  Total Company 18.1%   15.3%
         
  E-commerce 7.0%   10.6%
         

Comparable sales excluding the impacts from changes in gasoline prices and foreign exchange were as follows:

         
    5 Weeks   44 Weeks
  U.S. 13.2%   11.0%
  Canada 13.7%   12.1%
  Other International 11.9%   9.8%
         
  Total Company 13.0%   11.0%
         
  E-commerce 8.3%   10.8%
         

This year’s five-week June retail month had one additional shopping day in the U.S. versus last year, due to the timing of Independence Day. This benefited Total Company total and comparable sales by approximately two percent, and U.S. total and comparable sales by approximately three percent.

Additional discussion of these results is available in a pre-recorded telephone message. It can be accessed by dialing 1-888-301-8813. This message will be available through 5:00 p.m. (PT) on Thursday, July 14, 2022.

Costco currently operates 833 warehouses, including 574 in the United States and Puerto Rico, 107 in Canada, 40 in Mexico, 31 in Japan, 29 in the United Kingdom, 16 in Korea, 14 in Taiwan, 13 in Australia, four in Spain, two each in France and China, and one in Iceland. Costco also operates e-commerce sites in the U.S., Canada, the United Kingdom, Mexico, Korea, Taiwan, Japan and Australia.

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. In some cases forward-looking statements can be identified because they contain words such as “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “intend,” “likely,” “may,” “might,” “plan,” “potential,” “predict,” “project,” “seek,” “should,” “target,” “will,” “would,” or similar expressions and the negatives of those terms. 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, inflation or deflation, the effects of competition and regulation, uncertainties in the financial markets, consumer and small business spending patterns and debt levels, breaches of security or privacy of member or business information, conditions affecting the acquisition, development, ownership or use of real estate, capital spending, actions of vendors, rising costs associated with employees (generally including health-care costs), energy and certain commodities, geopolitical conditions (including tariffs and the Ukraine conflict), the ability to maintain effective internal control over financial reporting, regulatory and other impacts related to climate change, and COVID-19 related factors and challenges, including (among others) the duration of the pandemic, the unknown long-term economic impact, reduced shopping due to illness, travel restrictions or financial hardship, shifts in demand for products, reduced workforces due to illness, quarantine, or government mandates, temporary store closures or operational limitations due to government mandates, or supply-chain disruptions, capacity constraints of third-party logistics suppliers, and other risks identified from time to time in the Company’s public statements and reports filed with the Securities and Exchange Commission. Forward-looking statements speak only as of the date they are made, and the Company does not undertake to update these statements, except as required by law.

CONTACTS:    Costco Wholesale Corporation
Richard Galanti, 425/313-8203
Bob Nelson, 425/313-8255
David Sherwood, 425/313-8239
Josh Dahmen, 425/313-8254
     

Costco Wholesale Corporation