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Costco Wholesale Corp New (COST) SEC Filing 10-Q Quarterly report for the period ending Sunday, February 16, 2020

Costco Wholesale Corp New

CIK: 909832 Ticker: COST

Exhibit 99.1

 

Press Release    LOGO

 

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

OPERATING RESULTS FOR FISCAL 2020 AND FEBRUARY SALES RESULTS

ISSAQUAH, Wash., March 5, 2020 - 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 2020, ended February 16, 2020.

Net sales for the quarter increased 10.5 percent, to $38.26 billion from $34.63 billion last year. Net sales for the first 24 weeks increased 8.1 percent, to $74.49 billion from $68.94 billion last year.

Comparable sales for the second quarter fiscal 2020 were as follows:

 

     12 Weeks     12 Weeks     24 Weeks     24 Weeks  
           Adjusted*           Adjusted*  

U.S.

     9.1     8.1     7.0     6.6

Canada

     8.9     6.8     5.8     5.9

Other International

     7.9     7.1     5.5     5.8

Total Company

     8.9     7.9     6.6     6.5
  

 

 

   

 

 

   

 

 

   

 

 

 

E-commerce

     28.4     28.0     17.4     17.3
  

 

 

   

 

 

   

 

 

   

 

 

 

 

*

Excluding the impacts from changes in gasoline prices and foreign exchange.

Due to Thanksgiving occurring a week later this year, for the quarter: total and comparable sales were positively impacted by approximately one-half percent; and e-commerce sales were positively impacted by an estimated 11 percentage points.

Reported net income for the quarter was $931 million, or $2.10 per diluted share, compared to $889 million, or $2.01 per diluted share, last year. Net income for the first 24 weeks was $1.77 billion, or $4.00 per diluted share, compared to $1.66 billion, or $3.74 per diluted share, last year.

For the four-week reporting month of February, ended March 1, 2020, the Company reported net sales of $12.20 billion, an increase of 13.8 percent from $10.72 billion last year. For the twenty-six week period ended March 1, 2020, net sales were $80.76 billion, an increase of 8.5 percent from $74.42 billion last year.

Comparable sales for the February and year-to-date periods ended March 1, 2020, were as follows:

 

     4 Weeks     4 Weeks     26 Weeks     26 Weeks  
           Adjusted*           Adjusted*  

U.S.

     12.4     11.6     7.5     7.1

Canada

     10.2     10.4     6.2     6.3

Other International

     12.5     13.5     6.1     6.5

Total Company

     12.1     11.7     7.2     7.0
  

 

 

   

 

 

   

 

 

   

 

 

 

E-commerce

     22.6     22.7     17.9     17.9
  

 

 

   

 

 

   

 

 

   

 

 

 

 

*

Excluding the impacts from changes in gasoline prices and foreign exchange.


The following information was filed by Costco Wholesale Corp New (COST) on Thursday, March 5, 2020 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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Inside this 10-Q Quarterly Report

Cover
Condensed Consolidated Balance Sheets
Condensed Consolidated Balance Sheets (Parenthetical)
Condensed Consolidated Statements Of Cash Flows
Condensed Consolidated Statements Of Comprehensive Income
Condensed Consolidated Statements Of Income
Consolidated Statement Of Stockholders' Equity Statement
Commitments And Contingencies
Debt
Debt (Carrying Value And Estimated Fair Value Of Company's Long-Term Debt) (Details)
Debt (Tables)
Equity
Equity (Stock Repurchased During Period) (Details)
Equity (Tables)
Equity - Additional Information - Dividends (Detail)
Equity - Additional Information - Stock Repurchase Programs (Details)
Fair Value Measurement
Fair Value Measurement (Tables)
Fair Value Measurement - Fair Value Of Financial Assets And Financial Liabilities Measured On Recurring Basis (Details)
Income Taxes Income Taxes
Investments
Investments (Tables)
Investments - Available-For-Sale And Held-To-Maturity Investments (Detail)
Investments - Maturities Of Available-For-Sale And Held-To-Maturity Securities (Details)
Leases (Details)
Leases (Notes)
Leases (Tables)
Net Income Per Common And Common Equivalent Share
Net Income Per Common And Common Equivalent Share (Tables)
Net Income Per Common And Common Equivalent Share - Schedule Of Earnings Per Share Effect On Net Income And Weighted Average Number Of Dilutive Potential Common Stock (Details)
Segment Reporting
Segment Reporting (Tables)
Segment Reporting Information By Segment (Detail)
Segment Reporting Segment Reporting Information By Item Category (Details)
Stock-Based Compensation Plans
Stock-Based Compensation Plans (Tables)
Stock-Based Compensation Plans - Additional Information (Detail)
Stock-Based Compensation Plans - Summary Of Rsu Transactions (Details)
Stock-Based Compensation Plans - Summary Of Stock-Based Compensation Expense (Details)
Summary Of Significant Accounting Policies
Summary Of Significant Accounting Policies (Policies)
Summary Of Significant Accounting Policies - Additional Information (Detail)

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: 0000909832-20-000004
Submitted to the SEC: Wed Mar 11 2020 5:59:32 PM EST
Accepted by the SEC: Thu Mar 12 2020
Period: Sunday, February 16, 2020
Industry: Retail Variety Stores

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