Costco Wholesale Corporation Reports May Sales Results
June 01 2023 - 4:15PM
Costco Wholesale Corporation (“Costco” or the “Company”) (Nasdaq:
COST) today reported net sales of $18.45 billion for the retail
month of May, the four weeks ended May 28, 2023, an increase of 1.2
percent from $18.23 billion last year.
For the thirty-nine weeks ended May 28, 2023,
the Company reported net sales of $174.07 billion, an increase of
5.1 percent from $165.56 billion last year.
Comparable sales were as follows:
|
|
|
|
|
4 Weeks |
|
39 Weeks |
U.S. |
-1.5% |
|
4.4% |
Canada |
0.5% |
|
1.6% |
Other
International |
5.5% |
|
1.8% |
|
|
|
|
Total
Company |
-0.3% |
|
3.7% |
|
|
|
|
E-commerce |
-7.6% |
|
-7.6% |
|
|
|
|
Comparable sales excluding the impacts from
changes in gasoline prices and foreign exchange were as
follows:
|
|
|
|
|
4 Weeks |
|
39 Weeks |
U.S. |
1.7% |
|
4.6% |
Canada |
7.9% |
|
8.5% |
Other
International |
6.4% |
|
8.7% |
|
|
|
|
Total
Company |
3.3% |
|
5.7% |
|
|
|
|
E-commerce |
-7.0% |
|
-6.5% |
|
|
|
|
Additional discussion of these results is
available in a pre-recorded message. It can be accessed by dialing
1-844-706-0400 or by visiting investor.costco.com (click on “Events
& Presentations”). This message will be available through 5:00
p.m. (PT) on Thursday, June 8, 2023. Costco currently operates 853
warehouses, including 587 in the United States and Puerto Rico, 107
in Canada, 40 in Mexico, 32 in Japan, 29 in the United Kingdom, 18
in Korea, 14 in Taiwan, 14 in Australia, four in Spain, three in
China, two in France, and one each in Iceland, New Zealand and
Sweden. Costco also operates e-commerce sites in the U.S., Canada,
the U.K., 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, public-health related factors, 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, 425/313-8203David
Sherwood, 425/313-8239Josh Dahmen, 425/313-8254 |
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