Exhibit 99.1

 

Press Release    LOGO

 

COSTCO WHOLESALE CORPORATION REPORTS THIRD QUARTER AND YEAR-TO-DATE

OPERATING RESULTS FOR FISCAL 2018

ISSAQUAH, Wash., May 31, 2018—Costco Wholesale Corporation (“Costco” or the “Company”) (Nasdaq: COST) today announced its operating results for the third quarter (twelve weeks) and the

thirty-six weeks ended May 13, 2018.

Net sales for the quarter increased 12.1 percent, to $31.62 billion, from $28.22 billion last year. Net sales for the first thirty-six weeks of fiscal 2018 increased 12.0 percent, to $95.02 billion, from $84.82 billion last year.

Comparable sales for the third quarter and the thirty-six weeks were as follows:

 

     12 Weeks     12 Weeks     36 Weeks     36 Weeks  
           w/o gas inflation & FX           w/o gas inflation & FX  

U.S.

     9.7     7.7     9.0     7.3

Canada

     11.3     4.8     10.4     3.8

Other International

     11.8     5.8     12.6     7.1

Total Company

     10.2     7.0     9.7     6.8
  

 

 

   

 

 

   

 

 

   

 

 

 

E-commerce

     36.8     35.5     36.1     34.8
  

 

 

   

 

 

   

 

 

   

 

 

 

Net income for the quarter was $750 million, or $1.70 per diluted share, compared to $700 million, or $1.59 per diluted share, last year. Net income last year was positively impacted by an $82 million ($0.19 per diluted share) tax benefit in connection with the $7.00 per share special cash dividend declared in the third quarter of last year. Net income for the first thirty-six weeks of fiscal year 2018 was $2.09 billion, or $4.74 per diluted share, compared to $1.76 billion, or $3.99 per diluted share, last year.

Costco currently operates 750 warehouses, including 520 in the United States and Puerto Rico, 98 in Canada, 38 in Mexico, 28 in the United Kingdom, 26 in Japan, 14 in Korea, 13 in Taiwan, nine in Australia, two in Spain, one in Iceland, and one in France. Costco also operates e-commerce web sites in the U.S., Canada, the United Kingdom, Mexico, Korea, and Taiwan.

A conference call to discuss these results is scheduled for 2:00 p.m. (PT) today, May 31, 2018, and is available on www.costco.com (click on Investor Relations and “Play Webcast”).

Certain statements contained in this document constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. For these purposes, forward-looking statements are statements that address activities, events, conditions or developments that the Company expects or anticipates may occur in the future. Such forward-looking statements involve risks and uncertainties that may cause actual events, results or performance to differ materially from those indicated by such statements. These risks and uncertainties include, but are not limited to, domestic and international economic conditions, including exchange rates, the effects of competition and regulation, uncertainties in the financial markets, consumer and small business spending patterns and debt levels, breaches of security or privacy of member or business information, conditions affecting the acquisition, development, ownership or use of real estate, capital spending, actions of vendors, rising costs associated with employees (generally including health care costs), energy and certain commodities, geopolitical conditions (including tariffs), and other risks identified from time to time in the Company’s public statements and


The following information was filed by Costco Wholesale Corp New (COST) on Friday, June 1, 2018 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-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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