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Exhibit 99.1
Press Release |
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COSTCO WHOLESALE CORPORATION REPORTS FOURTH QUARTER AND
FISCAL YEAR 2018 OPERATING RESULTS
ISSAQUAH, Wash., October 4, 2018Costco 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 September 2, 2018.Net sales for the 16-week fourth quarter were $43.4 billion, an increase of 5.0 percent from $41.4 billion in the 17-week fourth quarter last year. Net sales for the 52-week fiscal year were $138.4 billion, an increase of 9.7 percent from $126.2 billion in the 53-week fiscal year of 2017.
Comparable sales for the 16-week fourth quarter, and the 52-week fiscal year were as follows:
16 Weeks | 52 Weeks | |||||||
U.S. |
10.8 | % | 9.4 | % | ||||
Canada |
5.7 | % | 8.9 | % | ||||
Other International |
6.7 | % | 10.8 | % | ||||
Total Company |
9.5 | % | 9.5 | % | ||||
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E-commerce |
26.2 | % | 32.2 | % | ||||
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Comparable sales for these periods excluding the impacts from changes in gasoline prices and foreign exchange were as follows:
16 Weeks | 52 Weeks | |||||||
U.S. |
7.8 | % | 7.4 | % | ||||
Canada |
4.6 | % | 4.1 | % | ||||
Other International |
6.9 | % | 7.1 | % | ||||
Total Company |
7.2 | % | 6.8 | % | ||||
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E-commerce |
26.3 | % | 31.3 | % | ||||
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Net income for the 16-week fourth quarter was $1,043 million, or $2.36 per diluted share, compared to $919 million, or $2.08 per diluted share, in the 17-week fourth quarter last year.
Net income for the 52-week fiscal year was $3.13 billion, or $7.09 per diluted share, compared to $2.68 billion, or $6.08 per diluted share, in the 53-week prior year. Net income this year was positively impacted by a $41 million ($0.09 per diluted share) tax benefit in the first quarter, related to a change in accounting rules for stock-based compensation. Last years 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 legal and other matters.
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