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COST - Costco Wholesale News Story

$384.42 4.9  1.3%

Last Trade - 14/05/21

Sector
Consumer Cyclicals
Size
Large Cap
Market Cap £119.54bn
Enterprise Value £118.72bn
Revenue £127.14bn
Position in Universe 63rd / 6849

Costco Wholesale Corporation Reports March Sales Results

Wed 7th April, 2021 9:15pm
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ISSAQUAH, Wash., April 07, 2021 (GLOBE NEWSWIRE) -- Costco Wholesale
Corporation (“Costco” or the “Company”) (Nasdaq: COST) today reported
net sales of $18.21 billion for the retail month of March, the five weeks
ended April 4, 2021, an increase of 17.6 percent from $15.49 billion last
year.

For the thirty-one weeks ended April 4, 2021, the Company reported net sales
of $111.37 billion, an increase of 15.7 percent from $96.25 billion during the
similar period last year.

Comparable sales were as follows:

                                               
                        5 Weeks    31 Weeks    
   U.S.                 13.9%      12.6%       
   Canada               28.3%      17.0%       
   Other International  16.4%      19.4%       
                                               
   Total Company        16.0%      14.1%       
   E-commerce           57.7%      77.0%       
                                               

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

                                               
                                               
                        5 Weeks    31 Weeks    
   U.S.                 11.3%      13.7%       
   Canada               13.0%      13.5%       
   Other International  7.7%       15.7%       
                                               
   Total Company        11.1%      13.9%       
   E-commerce           54.5%      75.9%       
                                               
                                               

This year’s five-week March retail month had one fewer shopping day versus
last year, due to the calendar shift of Easter. This negatively impacted total
and comparable sales by approximately one and one-half to two 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
3146223). This message will be available through 5:00 p.m. (PT) on Wednesday,
April 14, 2021. 
 
 Costco currently operates 807 warehouses, including 559 in the United States
and Puerto Rico, 104 in Canada, 39 in Mexico, 29 in the United Kingdom, 28 in
Japan, 16 in Korea, 14 in Taiwan, 12 in Australia, three 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, 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, 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, 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 away from discretionary
or higher-priced products, reduced workforces due to illness, quarantine, or
government mandates, temporary store closures due to reduced workforces or
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



GlobeNewswire, Inc. 2021
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