ISSAQUAH, WA, Dec 02, 2010 (MARKETWIRE via COMTEX) --
Costco Wholesale Corporation ("Costco" or the "Company") (NASDAQ:
COST) today reported net sales of $6.78 billion for the month of
November, the four weeks ended November 28, 2010, an increase of 12
percent from $6.04 billion during the similar period last year. This
year's four-week period included sales from the Company's Mexico
joint venture, as the Company began consolidating its Mexico
operations on a prospective basis beginning with its 2011 fiscal year
(on August 30, 2010); without those sales the increase would have
been nine percent.
For the thirteen weeks of its reporting period ended November 28,
2010, the Company reported net sales of $20.59 billion, an increase
of 11 percent from $18.57 billion during the similar period last
year; excluding Mexico sales, the increase would have been eight
percent.
Comparable sales for the four-week and thirteen-week periods ended
November 28, 2010, including Mexico operations for last year and this
year, were as follows:
4 Weeks 13 Weeks
-------- --------
U.S. 7% 4%
International 13% 14%
Total Company 9% 7%
======== ========
Inflation in gasoline prices and strengthening foreign currencies had
a positive impact on comparable sales. Excluding these effects,
comparable sales for the four-week and thirteen-week periods were as
follows:
4 Weeks 13 Weeks
-------- --------
U.S. 6% 3%
International 8% 10%
Total Company 6% 5%
======== ========
Additional discussion of these sales results is available in a
pre-recorded telephone message. You can access the recording by
dialing 1-800-642-1687 (conference ID 44184979). This message will be
available today through 5:00 p.m. (PT) on Friday, December 3, 2010.
The Company plans to release its operating results for the first
quarter (12 weeks) of its 2011 fiscal year ended November 21, 2010 on
Wednesday, December 8, 2010. A conference call to discuss these
results is scheduled for 8:00 a.m. (PT) that day and will be
available via webcast on www.costco.com.
Costco currently operates 582 warehouses, including 425 in the United
States and Puerto Rico, 80 in Canada, 22 in the United Kingdom, seven
in Korea, six in Taiwan, nine in Japan, one in Australia and 32 in
Mexico. The Company also operates Costco Online, an electronic
commerce web site, at www.costco.com and at www.costco.ca in Canada.
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. 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, conditions
affecting the acquisition, development, ownership or use of real
estate, actions of vendors, rising costs associated with employees
(including health care costs), geopolitical conditions and other
risks identified from time to time in the Company's public statements
and reports filed with the Securities and Exchange Commission.
CONTACTS:
Costco Wholesale Corporation
Richard Galanti
425/313-8203
Bob Nelson
425/313-8255
Jeff Elliott
425/313-8264
SOURCE: Costco
sales news
