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Costco Wholesale Corp New (COST) SEC Filing 10-K Annual report for the fiscal year ending Sunday, August 31, 2014

Costco Wholesale Corp New

CIK: 909832 Ticker: COST

Exhibit 99.1

 

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COSTCO WHOLESALE CORPORATION REPORTS FOURTH QUARTER AND

FISCAL YEAR 2014 OPERATING RESULTS AND SEPTEMBER SALES RESULTS

ISSAQUAH, Wash., October 8, 2014 – Costco Wholesale Corporation (“Costco” or the “Company”) (Nasdaq: COST) today announced its operating results for the 16-week fourth quarter and the 52-week fiscal year ended August 31, 2014, and its September sales results for the five weeks ended October 5, 2014.

Net sales for the fourth quarter were $34.75 billion, an increase of nine percent from $31.77 billion in fiscal 2013. Net sales for the fiscal year were $110.21 billion, an increase of seven percent from $102.87 billion last year.

Comparable sales were as follows:

 

     16 Weeks    52 Weeks

U.S.

           6%                  5%      

International

           6%                  3%      

Total Company

           6%                  4%      
    

 

 

      

 

 

 

Comparable sales for these periods, excluding negative impacts from gasoline price deflation and foreign exchange, were as follows:

 

     16 Weeks    52 Weeks

U.S.

           6%                  5%      

International

           8%                  7%      

Total Company

           7%                  6%      
    

 

 

      

 

 

 

Net income for the fourth quarter was $697 million, or $1.58 per diluted share, compared to $617 million, or $1.40 per diluted share, last year. Net income for the fiscal year was $2.06 billion, or $4.65 per diluted share, compared to $2.04 billion, or $4.63 per diluted share, in fiscal year 2013. Net income last year was positively impacted by a $62 million ($.14 per diluted share) tax benefit in connection with the portion of the special cash dividend paid in December 2012 to the Company 401(k) plan participants.

For the five-week reporting month of September, ended October 5, 2014, the Company reported net sales of $10.57 billion, an increase of seven percent from $9.86 billion during the similar five-week period last year.

 

1


The following information was filed by Costco Wholesale Corp New (COST) on Wednesday, October 8, 2014 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Inside this 10-K Annual Report

Document And Entity Information
Consolidated Balance Sheets
Consolidated Balance Sheets (parenthetical)
Consolidated Statements Of Cash Flows
Consolidated Statements Of Cash Flows (parenthetical)
Consolidated Statements Of Comprehensive Income
Consolidated Statements Of Equity
Consolidated Statements Of Income
Commitments And Contingencies
Commitments And Contingencies - Additional Information (detail)
Debt
Debt (additional Information) (detail)
Debt (carrying Value And Estimated Fair Value Of Company's Long Term Debt) (details)
Debt (schedule Of Long-term Debt Maturities) (detail) (details)
Debt (schedule Of Short-term Debt) (detail) (details)
Debt (tables)
Fair Value Measurement
Fair Value Measurement (tables)
Fair Value Measurement - Fair Value Of Financial Assets And Financial Liabilities Measured On Recurring Basis (details)
Income Taxes
Income Taxes (components Of Deferred Tax Assets And Liabilities) (detail) (details)
Income Taxes (gross Unrecognized Tax Benefits) (detail) (details)
Income Taxes (income Before Income Taxes) (detail) (details)
Income Taxes (reconciliation Between Statutory And Effective Rates) (detail) (details)
Income Taxes (schedule Of Foreign And Domestic Income Taxes) (detail) (details)
Income Taxes (tables)
Income Taxes - Additional Information (detail)
Investments
Investments (tables)
Investments - Available For Sale And Held To Maturity Investments (detail)
Investments - Maturities Of Available For Sale And Held To Maturity Securities (details)
Investments - Proceeds From Sales Of Available For Sale Securities (detail)
Leases
Leases (details)
Leases (tables)
Leases - Additional Information (details)
Net Income Per Common And Common Equivalent Share
Net Income Per Common And Common Equivalent Share - Schedule Of Earnings Per Share Effect On Net Income And Weighted Averegae Number Of Dilutive Potential Common Stock (details)
Net Income Per Common And Common Equivalent Share Net Income Per Common And Common Equivalent Share (table)
Quarterly Financial Data (detail)
Quarterly Financial Data (unaudited)
Quarterly Financial Data (unaudited) (tables)
Segment Reporting
Segment Reporting (tables)
Segment Reporting Information By Segment (detail)
Stock-based Compensation Plans
Stock-based Compensation Plans (tables)
Stock-based Compensation Plans - Additional Information (detail)
Stock-based Compensation Plans - Summary Of Rsu Transactions (details)
Stock-based Compensation Plans - Summary Of Stock Option Transactions (details)
Stock-based Compensation Plans - Summary Of Stock-based Compensation Expense (details)
Stock-based Compensation Plans - Tax Benefits Realized And Intrinsic Value Related To Stock Options Exercised (details)
Stockholders' Equity
Stockholders' Equity (stock Repurchased During Period) (detail)
Stockholders' Equity (tables)
Stockholders' Equity - Additional Information (detail)
Summary Of Significant Accounting Policies
Summary Of Significant Accounting Policies (interest Income And Other, Net) (detail)
Summary Of Significant Accounting Policies (merchandise Inventories (detail)
Summary Of Significant Accounting Policies (other Assets) (detail)
Summary Of Significant Accounting Policies (other Current Liabilities) (detail)
Summary Of Significant Accounting Policies (policies)
Summary Of Significant Accounting Policies (receivables, Net) (detail)
Summary Of Significant Accounting Policies (tables)
Summary Of Significant Accounting Policies - Additional Information (detail)
Ticker: COST
CIK: 909832
Form Type: 10-K Annual Report
Accession Number: 0000909832-14-000021
Submitted to the SEC: Wed Oct 15 2014 5:30:17 PM EST
Accepted by the SEC: Wed Oct 15 2014
Period: Sunday, August 31, 2014
Industry: Retail Variety Stores

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