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Costco Wholesale Corp New (COST) SEC Filing 10-K Annual report for the fiscal year ending Sunday, August 28, 2016

Costco Wholesale Corp New

CIK: 909832 Ticker: COST

Exhibit 99.1

 

Press Release    LOGO

 

COSTCO WHOLESALE CORPORATION REPORTS FOURTH QUARTER AND

FISCAL YEAR 2016 OPERATING RESULTS

ISSAQUAH, Wash., September 29, 2016 - 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 28, 2016.

Net sales for the fourth quarter were $35.73 billion, an increase of two percent from $34.99 billion in fiscal 2015. Net sales for the fiscal year were $116.07 billion, an increase of two percent from $113.67 billion last year.

Comparable sales were as follows:

 

     16 Weeks     52 Weeks  

U.S.

     -1     1

Canada

     2     -3

Other International

     -2     -3

Total Company

     0     0
  

 

 

   

 

 

 

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.

     2     3

Canada

     5     8

Other International

     1     4

Total Company

     3     4
  

 

 

   

 

 

 

Net income for the fourth quarter was $779 million, or $1.77 per diluted share, compared to $767 million, or $1.73 per diluted share, last year.

Net income for the fiscal year was $2.35 billion, or $5.33 per diluted share, compared to $2.38 billion, or $5.37 per diluted share, last year. Net income last year was positively impacted by a $57 million ($.13 per diluted share) tax benefit in connection with a second-quarter special cash dividend.

Costco ended its 2016 fiscal year and currently operates 715 warehouses, including 501 in the United States and Puerto Rico, 91 in Canada, 36 in Mexico, 28 in the United Kingdom, 25 in Japan, 12 in Korea, 12 in Taiwan, eight in Australia and two in Spain. The Company plans to open up to an additional nine new warehouses (including one relocation) before the end of calendar year 2016. Costco also operates e-commerce web sites in the U.S., Canada, the United Kingdom, Mexico, Korea and Taiwan.


The following information was filed by Costco Wholesale Corp New (COST) on Thursday, September 29, 2016 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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Financial Statements, Disclosures and Schedules

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)
Debt (schedule Of Short-term Debt) (detail)
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)
Income Taxes (gross Unrecognized Tax Benefits) (detail)
Income Taxes (income Before Income Taxes) (detail)
Income Taxes (reconciliation Between Statutory And Effective Rates) (detail)
Income Taxes (schedule Of Foreign And Domestic Income Taxes) (detail)
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 (tables)
Quarterly Financial Data (detail)
Quarterly Financial Data (unaudited)
Quarterly Financial Data (unaudited) (tables)
Segment Reporting
Segment Reporting (tables)
Segment Reporting Information By Item Category (detail)
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-based Compensation Expense (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 (merchandise Inventories (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: 0000909832-16-000032
Submitted to the SEC: Tue Oct 11 2016 7:26:22 PM EST
Accepted by the SEC: Wed Oct 12 2016
Period: Sunday, August 28, 2016
Industry: Retail Variety Stores

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