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Exhibit 99.1
Press Release |
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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 | % | ||||||||
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E-commerce |
20.2 | % | 25.5 | % | 25.9 | % | 25.8 | % | ||||||||
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* | 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 | % | ||||||||
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E-commerce |
24.2 | % | 21.6 | % | 26.2 | % | 25.5 | % | ||||||||
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* | Excluding the impacts from changes in gasoline prices, foreign exchange, and a previously disclosed accounting change concerning revenue recognition (ASC 606). |
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Compare this 10-Q Quarterly Report to its predecessor by reading our highlights to see what text and tables were removed , added and changed by Costco Wholesale Corp New.
Costco Wholesale Corp New's Definitive Proxy Statement (Form DEF 14A) filed after their 2019 10-K Annual Report includes:
Financial Statements, Disclosures and Schedules
Inside this 10-Q Quarterly Report
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-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