Costco Wholesale Corp New (COST) 10-Q Quarterly Report Wed Mar 13 2019

ISSAQUAH, Wash., March 7, 2019 - Costco Wholesale Corporation (“Costco” or the “Company”) (Nasdaq: COST) today announced its operating results for the second quarter (twelve weeks) and the first 24 weeks of fiscal 2019, ended February 17, 2019.

Net sales for the quarter increased 7.3 percent, to $34.63 billion from $32.28 billion last year. Net sales for the first 24 weeks increased 8.7 percent, to $68.94 billion from $63.40 billion last year.

Comparable sales for the second quarter and year-to-date periods ended February 17, 2019, were as follows:


	12 Weeks			12 Weeks			24 Weeks			24 Weeks
				Adjusted*						Adjusted*
U.S.		7.4	%		7.2	%		9.2	%		7.6	%
Canada		-0.3	%		6.0	%		1.1	%		5.7	%
Other International		0.7	%		4.8	%		2.3	%		5.3	%
Total Company		5.4	%		6.7	%		7.1	%		7.0	%

E-commerce		20.2	%		25.5	%		25.9	%		25.8	%

Excluding the impacts from changes in gasoline prices, foreign exchange, and a previously disclosed accounting change concerning revenue recognition (ASC 606).

Reported net income for the quarter was $889 million, or $2.01 per diluted share, compared to $701 million, or $1.59 per diluted share, last year. Net income for the first 24 weeks was $1.66 billion, or $3.74 per diluted share, compared to $1.34 billion, or $3.04 per diluted share, last year.

For the four-week reporting month of February, ended March 3, 2019, the Company reported net sales of $10.72 billion, an increase of 5.0 percent from $10.21 billion last year. For the twenty-six week period ended March 3, 2019, net sales were $74.42 billion, an increase of 8.6 percent from $68.51 billion last year.

Comparable sales for the February and year-to-date periods ended March 3, 2019, were as follows:


	4 Weeks			4 Weeks			26 Weeks			26 Weeks
				Adjusted*						Adjusted*
U.S.		6.0	%		5.7	%		9.0	%		7.4	%
Canada		0.0	%		4.8	%		1.1	%		5.7	%
Other International		-5.9	%		-1.2	%		2.3	%		5.5	%
Total Company		3.5	%		4.6	%		6.9	%		6.9	%

E-commerce		24.2	%		21.6	%		26.2	%		25.5	%

Excluding the impacts from changes in gasoline prices, foreign exchange, and a previously disclosed accounting change concerning revenue recognition (ASC 606).

The following information was filed by Costco Wholesale Corp New (COST) on Thursday, March 7, 2019 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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Costco Wholesale Corp New provided additional information to their SEC Filing as exhibits

Exhibit 3.1: Articles Of Incorporation

Exhibit 3.2: Articles Of Incorporation

Exhibit 10.2: Material Contract

Exhibit 31.1: Rule 13A-14(A)/15D-14(A) Certification

Exhibit 32.1: Section 1350 Certification

Ticker: COST
CIK: 909832
Form Type: 10-Q Quarterly Report
Accession Number: 0000909832-19-000003
Submitted to the SEC: Wed Mar 13 2019 4:49:30 PM EST
Accepted by the SEC: Wed Mar 13 2019
Period: Sunday, February 17, 2019
Industry: Retail Variety Stores

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