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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