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

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Costco Wholesale Corp New

CIK: 909832 Ticker: COST
   Exhibit 99.1
Press Release    LOGO






ISSAQUAH, Wash., May 28, 2020 - Costco Wholesale Corporation (“Costco” or the “Company”) (Nasdaq: COST) today announced its operating results for the third quarter (12 weeks) and the first 36 weeks of fiscal 2020, ended May 10, 2020.

Net sales for the quarter increased 7.3 percent, to $36.45 billion from $33.96 billion last year. Net sales for the first 36 weeks increased 7.8 percent, to $110.94 billion from $102.90 billion last year.

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


       12 Weeks      12 Weeks      36 Weeks      36 Weeks  
              Adjusted*             Adjusted*  


       5.9      8.0      6.6      7.1


       -2.5      3.0      3.1      5.0

Other International

       6.2      12.2      5.7      7.9

Total Company

       4.8      7.8      6.0      6.9














       64.5      66.1      31.8      32.3















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

Reported net income for the third quarter was $838 million, or $1.89 per share, which was negatively impacted by $283 million pretax, or 47 cents per diluted share, from incremental wage and sanitation costs related to COVID-19. Last year’s reported third quarter net income was $906 million, or $2.05 per diluted share, which included the benefit of a non-recurring tax item of $73 million, or 16 cents per share.

Net income for the first 36 weeks was $2.61 billion, or $5.89 per diluted share, compared to $2.56 billion, or $5.79 per diluted share, last year.

Costco currently operates 787 warehouses, including 547 in the United States and Puerto Rico, 100 in Canada, 39 in Mexico, 29 in the United Kingdom, 26 in Japan, 16 in Korea, 13 in Taiwan, 12 in Australia, two in Spain, and one each in Iceland, France, and China. Costco also operates e-commerce sites in the U.S., Canada, the United Kingdom, Mexico, Korea, Taiwan, Japan, and Australia.

A conference call to discuss these results is scheduled for 2:00 p.m. (PT) today, May 28, 2020, and is available via a webcast on (click on Investor Relations and “Play Webcast”).

Certain statements contained in this document constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. For these purposes, forward-looking statements are statements that address activities, events, conditions or developments that the Company expects or anticipates may occur in the future. In some cases forward-looking statements can be identified because they contain words such as “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “intend,” “likely,” “may,” “might,” “plan,” “potential,” “predict,” “project,” “seek,” “should,” “target,” “will,” “would,” or similar expressions and the negatives of those terms. Such forward-looking statements involve risks and uncertainties that may cause actual events, results or performance to differ materially from those indicated by such statements. These risks and uncertainties include, but

The following information was filed by Costco Wholesale Corp New (COST) on Thursday, May 28, 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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Condensed Consolidated Balance Sheets
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Condensed Consolidated Statements Of Cash Flows
Condensed Consolidated Statements Of Comprehensive Income
Condensed Consolidated Statements Of Income
Consolidated Statement Of Stockholders' Equity Statement
Accounting Policies (Tables)
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Commitments And Contingencies
Debt (Carrying Value And Estimated Fair Value Of Company's Long-Term Debt) (Details)
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Equity (Stock Repurchased During Period) (Details)
Equity (Tables)
Equity - Additional Information - Dividends (Detail)
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Fair Value Measurement
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Fair Value Measurement - Fair Value Of Financial Assets And Financial Liabilities Measured On Recurring Basis (Details)
Income Taxes Income Taxes
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Investments - Available-For-Sale And Held-To-Maturity Investments (Detail)
Investments - Maturities Of Available-For-Sale And Held-To-Maturity Securities (Details)
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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)
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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)

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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: 0000909832-20-000009
Submitted to the SEC: Wed Jun 03 2020 5:55:52 PM EST
Accepted by the SEC: Thu Jun 04 2020
Period: Sunday, May 10, 2020
Industry: Retail Variety Stores

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