ISSAQUAH, WA, Jul 07, 2011 (MARKETWIRE via COMTEX) --
Costco Wholesale Corporation ("Costco" or the "Company") (NASDAQ:
COST) today reported net sales of $8.69 billion for the month of
June, the five weeks ended July 3, 2011, an increase of 18 percent
from $7.33 billion during the similar period last year. This year's
five-week period included 34 days in the U.S. (U.S. warehouses closed
Memorial Day) versus 33 days last year (U.S. warehouses closed
Memorial Day and Independence Day). The calendar shift positively
impacted this year's total and comparable sales by approximately two
to three percent (three percent in the U.S.). Also, this year's
five-week period included sales from the Company's Mexico joint
venture; otherwise the net sales increase would have been 15 percent.
For the forty-four weeks ended July 3, 2011, the Company reported net
sales of $73.44 billion, an increase of 14 percent from $64.51
billion during the similar period last year; excluding Mexico sales,
the increase would have been 11 percent.
Comparable sales for the five-week and forty-four-week periods ended
July 3, 2011, including Mexico operations for last year and this
year, were as follows:
5 Weeks 44 Weeks
------- --------
U.S. 12% 7%
International 18% 16%
Total Company 14% 9%
======= ========
Inflation in gasoline prices and strengthening foreign currencies had
a positive impact on comparable sales. Excluding these effects,
comparable sales for the five-week and forty-four-week periods were
as follows:
5 Weeks 44 Weeks
------- --------
U.S. 8% 5%
International 9% 10%
Total Company 8% 6%
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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 25103423). This message will be
available today through 5:00 p.m. (PT) on Friday, July 8, 2011.
Costco currently operates 584 warehouses, including 427 in the United
States and Puerto Rico, 81 in Canada, 32 in Mexico, 22 in the United
Kingdom, eight in Japan, seven in Korea, six in Taiwan and one in
Australia. The Company also operates Costco Online, an electronic
commerce web site, at www.costco.com and at www.costco.ca in Canada.
The Company plans to open up to eight additional warehouses prior to
the end of its 2011 fiscal year on August 28, 2011.
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), energy, and certain commodities,
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
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