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Costco Wholesale Corp New (COST) SEC Filing 10-Q Quarterly report for the period ending Sunday, November 22, 2020

Costco Wholesale Corp New

CIK: 909832 Ticker: COST

Exhibit 99.1

 

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COSTCO WHOLESALE CORPORATION REPORTS FIRST     QUARTER

FISCAL YEAR 2021 OPERATING RESULTS

ISSAQUAH, Wash., December 10, 2020 - Costco Wholesale Corporation (“Costco” or the “Company”) (Nasdaq: COST) today announced its operating results for the first quarter (twelve weeks) of fiscal 2021, ended November 22, 2020.

Net sales for the first quarter increased 16.9 percent, to $42.35 billion from $36.24 billion last year.

Comparable sales for the first quarter fiscal 2021 were as follows:

 

     12 Weeks     12 Weeks  
       Adjusted

U.S.

     14.6     17.0

Canada

     16.2     16.8

Other International

     18.7     17.7

Total Company

     15.4     17.1
  

 

 

   

 

 

 

E-commerce

     86.4     86.2
  

 

 

   

 

 

 

 

*

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

Net income for the quarter was $1,166 million, or $2.62 per diluted share, compared to $844 million, or $1.90 per diluted share, last year. This year’s first quarter included tax benefits of $145 million or $0.33 per diluted share, $0.16 of which was due to the deductibility of the $10 per share special cash dividend, to the extent received by the Company’s 401(k) plan participants; and $0.17 cents related to stock-based compensation. Last year’s first quarter included a $77 million or $0.17 per diluted share tax benefit related to stock-based compensation. This year’s results reflect an expense for COVID-19 premium wages of $212 million pre-tax or $0.35 per diluted share.

Costco currently operates 803 warehouses, including 558 in the United States and Puerto Rico, 102 in Canada, 39 in Mexico, 29 in the United Kingdom, 27 in Japan, 16 in Korea, 14 in Taiwan, 12 in Australia, three 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, December 10, 2020, and is available via a webcast on www.costco.com (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


The following information was filed by Costco Wholesale Corp New (COST) on Thursday, December 10, 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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Financial Statements, Disclosures and Schedules

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
Business Combinations
Business Combinations (Details)
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
Income Taxes Income Taxes (Details)
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)
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: 0000909832-20-000026
Submitted to the SEC: Wed Dec 16 2020 5:05:38 PM EST
Accepted by the SEC: Wed Dec 16 2020
Period: Sunday, November 22, 2020
Industry: Retail Variety Stores

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