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Costco Wholesale Corp New (COST) SEC Filing 10-K Annual report for the fiscal year ending Sunday, September 3, 2017

Costco Wholesale Corp New

CIK: 909832 Ticker: COST

Exhibit 99.1

 

Press Release    LOGO

 

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
  

 

 

   

 

 

   

 

 

 

E-commerce

     21     13     30
  

 

 

   

 

 

   

 

 

 

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
  

 

 

   

 

 

   

 

 

 

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.


The following information was filed by Costco Wholesale Corp New (COST) on Thursday, October 5, 2017 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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Costco Wholesale Corp New's Definitive Proxy Statement (Form DEF 14A) filed after their 2017 10-K Annual Report includes:

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Inside Costco Wholesale Corp New's 10-K Annual Report:

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 (details)
Debt
Debt (additional Information) (details)
Debt (carrying Value And Estimated Fair Value Of Company's Long Term Debt) (details)
Debt (schedule Of Long-term Debt Maturities) (details)
Debt (schedule Of Short-term Debt) (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) (details)
Income Taxes (gross Unrecognized Tax Benefits) (details)
Income Taxes (income Before Income Taxes) (details)
Income Taxes (reconciliation Between Statutory And Effective Rates) (details)
Income Taxes (schedule Of Foreign And Domestic Income Taxes) (details)
Income Taxes (tables)
Income Taxes - Additional Information (details)
Investments
Investments (tables)
Investments - Available For Sale And Held To Maturity Investments (details)
Investments - Maturities Of Available For Sale And Held To Maturity Securities (details)
Investments - Proceeds From Sales Of Available For Sale Securities (details)
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 (details)
Quarterly Financial Data (unaudited)
Quarterly Financial Data (unaudited) (tables)
Segment Reporting
Segment Reporting (tables)
Segment Reporting Information By Item Category (details)
Segment Reporting Information By Segment (details)
Stock-based Compensation Plans
Stock-based Compensation Plans (tables)
Stock-based Compensation Plans - Additional Information (details)
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) (details)
Stockholders' Equity (tables)
Stockholders' Equity - Additional Information (details)
Summary Of Significant Accounting Policies
Summary Of Significant Accounting Policies (merchandise Inventories (details)
Summary Of Significant Accounting Policies (policies)
Summary Of Significant Accounting Policies (tables)
Summary Of Significant Accounting Policies - Additional Information (details)

Material Contracts, Statements, Certifications & more

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: 0000909832-17-000014
Submitted to the SEC: Tue Oct 17 2017 9:17:47 PM EST
Accepted by the SEC: Wed Oct 18 2017
Period: Sunday, September 3, 2017
Industry: Retail Variety Stores

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