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Costco Wholesale Corp New (COST) SEC Filing 10-Q Quarterly report for the period ending Sunday, February 14, 2021

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 2021 AND FEBRUARY SALES RESULTS

ISSAQUAH, Wash., March 4, 2021—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 2021, ended February 14, 2021.

Net sales for the quarter increased 14.7 percent, to $43.89 billion, from $38.26 billion last year. Net sales for the first 24 weeks increased 15.8 percent, to $86.23 billion, from $74.49 billion last year.

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

 

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

U.S.

     11.4     12.6     13.0     14.7

Canada

     13.4     10.6     14.8     13.6

Other International

     21.5     17.7     20.2     17.7

Total Company

     13.0     12.9     14.2     15.0
  

 

 

   

 

 

   

 

 

   

 

 

 

E-commerce

     75.8     74.8     80.4     79.7
  

 

 

   

 

 

   

 

 

   

 

 

 

 

*

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

Net income for the quarter was $951 million, or $2.14 per diluted share, which includes $246 million pretax, or $0.41 per diluted share, in costs incurred primarily from COVID-19 premium wages. Last year’s second quarter net income was $931 million, or $2.10 per diluted share. Net income for the first 24 weeks was $2.12 billion, or $4.76 per diluted share, compared to $1.77 billion, or $4.00 per diluted share, last year.

For the four-week reporting month of February, ended February 28, 2021, the Company reported net sales of $14.05 billion, an increase of 15.2 percent from $12.20 billion last year. For the twenty-six week period ended February 28, 2021, net sales were $93.16 billion, an increase of 15.4 percent from $80.76 billion last year.

Comparable sales for the February and year-to-date periods ended February 28, 2021, were as follows:

 

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

U.S.

     10.3     10.3     12.4     14.0

Canada

     21.6     15.7     15.0     13.5

Other International

     25.7     20.6     20.0     17.2

Total Company

     13.8     12.3     13.8     14.3
  

 

 

   

 

 

   

 

 

   

 

 

 

E-commerce

     91.1     89.4     81.0     80.3
  

 

 

   

 

 

   

 

 

   

 

 

 

 

*

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 4, 2021 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
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
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: 0000909832-21-000003
Submitted to the SEC: Wed Mar 10 2021 4:43:23 PM EST
Accepted by the SEC: Wed Mar 10 2021
Period: Sunday, February 14, 2021
Industry: Retail Variety Stores

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