Exhibit 99.1

 

Press Release    LOGO

 

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

OPERATING RESULTS FOR FISCAL 2019 AND FEBRUARY SALES RESULTS

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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