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Exhibit 99.1
COSTCO WHOLESALE CORPORATION REPORTS FOURTH QUARTER AND
FISCAL YEAR 2015 OPERATING RESULTS
ISSAQUAH, Wash., September 29, 2015 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 30, 2015.
Net sales for the fourth quarter were $34.99 billion, an increase of one percent from $34.75 billion in fiscal 2014. Net sales for the fiscal year were $113.67 billion, an increase of three percent from $110.21 billion last year.
Comparable sales were as follows:
16 Weeks | 52 Weeks | |||||||
U.S. |
2 | % | 3 | % | ||||
Canada |
-10 | % | -5 | % | ||||
Other International |
-7 | % | -3 | % | ||||
Total Company |
-1 | % | 1 | % | ||||
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Comparable sales for these periods excluding the negative impacts from gasoline price deflation and foreign exchange were as follows:
16 Weeks | 52 Weeks | |||||||
U.S. |
6 | % | 6 | % | ||||
Canada |
7 | % | 8 | % | ||||
Other International |
6 | % | 6 | % | ||||
Total Company |
6 | % | 7 | % | ||||
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Net income for the fourth quarter was $767 million, or $1.73 per diluted share, compared to $697 million, or $1.58 per diluted share, last year.
Net income for this fiscal year was $2.38 billion, or $5.37 per diluted share, compared to $2.06 billion, or $4.65 per diluted share, last year. Net income this year was positively impacted by a $57 million ($.13 per diluted share) tax benefit in connection with a second-quarter special cash dividend received by the Company 401(k) plan participants.
Costco currently operates 686 warehouses, including 480 in the United States and Puerto Rico, 89 in Canada, 36 in Mexico, 27 in the United Kingdom, 23 in Japan, 12 in Korea, 11 in Taiwan, seven in Australia and one in Spain. The Company plans to open up to an additional 12 new warehouses (including one relocation) before the end of calendar year 2015. Costco also operates e-commerce web sites in the U.S., Canada, the United Kingdom and Mexico.
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Costco Wholesale Corp New's Definitive Proxy Statement (Form DEF 14A) filed after their 2015 10-K Annual Report includes:
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Costco Wholesale Corp New provided additional information to their SEC Filing as exhibits
Ticker: COST
CIK: 909832
Form Type: 10-K Annual Report
Accession Number: 0000909832-15-000014
Submitted to the SEC: Tue Oct 13 2015 6:50:16 PM EST
Accepted by the SEC: Wed Oct 14 2015
Period: Sunday, August 30, 2015
Industry: Retail Variety Stores