Costco Wholesale Corporation Reports November and First Quarter Fiscal Year 2020 Sales Results
December 04 2019 - 4:15PM
Costco Wholesale Corporation (“Costco” or the “Company”) (Nasdaq:
COST) today reported net sales of $13.62 billion for the retail
month of November, the four weeks ended December 1, 2019, an
increase of 6.7 percent from $12.77 billion last year.
For the twelve-week first quarter ended November
24, 2019, the Company reported net sales of $36.24 billion, an
increase of 5.6 percent from $34.31 billion last year.
For the thirteen weeks ended December 1, 2019,
the Company reported net sales of $39.95 billion, an increase of
6.3 percent from $37.57 billion during the similar period last
year.
Comparable sales were as follows:
|
|
4 Weeks |
|
12 Weeks |
|
13 Weeks |
|
|
|
November |
|
Q1 FY ‘20 |
|
YTD ‘20 |
|
|
U.S. |
4.8% |
|
4.7% |
|
5.5% |
|
|
Canada |
5.6% |
|
2.9% |
|
3.8% |
|
|
Other International |
7.5% |
|
3.2% |
|
4.2% |
|
|
|
|
|
|
|
|
|
|
Total Company |
5.3% |
|
4.3% |
|
5.1% |
|
|
|
|
|
|
|
|
|
|
E-commerce |
-3.6% |
|
5.5% |
|
6.9% |
|
Comparable sales excluding the impacts from
changes in gasoline prices and foreign exchange were as
follows:
|
|
4 Weeks |
|
12 Weeks |
|
13 Weeks |
|
|
|
November |
|
Q1 FY ‘20 |
|
YTD ‘20 |
|
|
U.S. |
4.3% |
|
5.0% |
|
5.7% |
|
|
Canada |
5.8% |
|
5.1% |
|
5.7% |
|
|
Other International |
6.8% |
|
4.5% |
|
5.4% |
|
|
|
|
|
|
|
|
|
|
Total Company |
4.8% |
|
5.0% |
|
5.7% |
|
|
|
|
|
|
|
|
|
|
E-commerce |
-3.7% |
|
5.7% |
|
7.1% |
|
|
|
|
|
|
|
|
|
E-commerce sales in November were negatively
impacted by an estimated 20 percentage points, primarily due to
Thanksgiving/Black Friday/Cyber Monday occurring a week later this
year versus last year and, to a lesser extent, website performance
issues experienced on the Company’s U.S. and Canadian e-commerce
websites on Thanksgiving Day and Black Friday. Total and comparable
sales were negatively impacted by approximately one and one-half
percent.
Additional discussion of these results is
available in a pre-recorded telephone message. It can be accessed
by dialing 1-855-859-2056 (conference ID 1797229). This message
will be available through 5:00 p.m. (PT) on Wednesday, December 11,
2019.
Costco currently operates 785 warehouses,
including 546 in the United States and Puerto Rico, 100 in Canada,
39 in Mexico, 29 in the United Kingdom, 26 in Japan, 16 in Korea,
13 in Taiwan, 11 in Australia, two in Spain, and one each in
Iceland, France, and China. Costco also operates e-commerce sites
in the U.S., Canada, the United Kingdom, Mexico, Korea, and
Taiwan.
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, 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), the ability to maintain effective internal control over
financial reporting, 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 CorporationRichard
Galanti, 425/313-8203Bob Nelson, 425/313-8255David Sherwood,
425/313-8239Josh Dahmen, 425/313-8254
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