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Exhibit 99.1
Press Release |
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COSTCO WHOLESALE CORPORATION REPORTS FOURTH QUARTER AND
FISCAL YEAR 2017 OPERATING RESULTS AND SEPTEMBER SALES RESULTS
ISSAQUAH, Wash., October 5, 2017- Costco Wholesale Corporation (Costco or the Company) (Nasdaq: COST) today announced its operating results for the
17-week fourth quarter and the 53-week fiscal year ended September 3, 2017.Net sales for the 17-week fourth quarter were $41.36 billion, an increase of 15.8 percent from $35.73 billion in the 16-week fourth quarter of fiscal 2016. Net sales for the 53-week fiscal year were $126.17 billion, an increase of 8.7 percent from $116.07 billion in the 52-week fiscal year of 2016.
The Company today also reported net sales of $12.40 billion for the month of September, the five weeks ended October 1, 2017, an increase of 12.1 percent from $11.06 billion during the similar period last year. (The five-week period this year included the last week of the 53-week fiscal year 2017 ended September 3, 2017).
Comparable sales for the 17-week fourth quarter, the 53-week fiscal year, and the 5-week September retail sales month were as follows:
17 Weeks | 53 Weeks | Sept. 5 Weeks | ||||||||||
U.S. |
6.5 | % | 4.4 | % | 9.0 | % | ||||||
Canada |
4.9 | % | 4.7 | % | 9.4 | % | ||||||
Other International |
5.6 | % | 2.1 | % | 8.2 | % | ||||||
Total Company |
6.1 | % | 4.1 | % | 8.9 | % | ||||||
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E-commerce |
21 | % | 13 | % | 30 | % | ||||||
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Comparable sales for these periods excluding the impacts from changes in gasoline prices and foreign exchange were as follows:
17 Weeks | 53 Weeks | Sept. 5 Weeks | ||||||||||
U.S. |
5.8 | % | 3.7 | % | 7.1 | % | ||||||
Canada |
4.8 | % | 3.8 | % | 1.4 | % | ||||||
Other International |
6.0 | % | 4.5 | % | 7.2 | % | ||||||
Total Company |
5.7 | % | 3.8 | % | 6.2 | % | ||||||
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Net income for the 17-week fourth quarter was $919 million, or $2.08 per diluted share, compared to $779 million, or $1.77 per diluted share, in the 16-week fourth quarter last year.
Net income for the 53-week fiscal year was $2.68 billion, or $6.08 per diluted share, compared to $2.35 billion, or $5.33 per diluted share, in the 52-week prior year. Net income was positively impacted by an $82 million ($0.19 per diluted share) tax benefit in connection with the third-quarter special cash dividend and other net benefits of approximately $51 million ($0.07 per diluted share after tax) for nonrecurring net legal and other matters.
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