Costco Wholesale Corp New (COST) SEC Filing 10-K Annual Report for the fiscal year ending Sunday, August 29, 2021

Costco Wholesale Corp New

CIK: 909832 Ticker: COST

Exhibit 99.1




Press Release






ISSAQUAH, Wash., September 23, 2021 - Costco Wholesale Corporation (“Costco” or the “Company”) (Nasdaq: COST) today announced its operating results for the

16-week fourth quarter and the 52-week fiscal year, ended August 29, 2021.

Net sales for the quarter increased 17.5 percent, to $61.44 billion from $52.28 billion last year. Net sales for the fiscal year increased 17.7 percent, to $192.05 billion from $163.22 billion last year.

Comparable sales for the fourth quarter and the fiscal year were as follows:


     16 Weeks     16 Weeks     52 Weeks     52 Weeks  
           Adjusted*           Adjusted*  


     14.9     10.3     14.8     13.6


     19.5     6.7     20.0     12.1

Other International

     15.0     7.3     19.1     13.4

Total Company

     15.5     9.4     16.0     13.4














     11.2     8.9     44.4     42.6















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

Net income for the fourth quarter was $1.670 billion, or $3.76 per diluted share, compared to $1.389 billion, or $3.13 last year. This year’s fourth quarter was negatively impacted by a write-off of certain information technology assets of $84 million pre-tax ($0.14 per diluted share). Last year’s fourth quarter was negatively impacted by incremental expense related to COVID-19 premium wages and sanitation costs of $281 million pretax ($0.47 per diluted share) and a $36 million pretax charge ($0.06 per diluted share) related to the prepayment of $1.5 billion of debt, partially offset by an $84 million pretax benefit ($0.15 per diluted share) for the partial reversal of a reserve related to a product tax assessment taken in fiscal year 2019.

Net income for the fiscal year was $5.01 billion, or $11.27 per diluted share, compared to $4.00 billion, or $9.02 per diluted share in the prior year.

Costco currently operates 817 warehouses, including 565 in the United States and Puerto Rico, 105 in Canada, 39 in Mexico, 30 in Japan, 29 in the United Kingdom, 16 in Korea, 14 in Taiwan, 13 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, September 23, 2021, 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,”

The following information was filed by Costco Wholesale Corp New (COST) on Thursday, September 23, 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-K Annual 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-K Annual Report

Consolidated Balance Sheets
Consolidated Balance Sheets (Parenthetical)
Consolidated Statements Of Cash Flows
Consolidated Statements Of Comprehensive Income
Consolidated Statements Of Equity
Consolidated Statements Of Income
Acquisitions (Details)
Commitments And Contingencies
Debt (Additional Information) (Details)
Debt (Schedule Of Long-Term Debt Maturities) (Details)
Debt (Schedule Of Short-Term Debt) (Details)
Debt (Tables)
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 (Components Of Deferred Tax Assets And Liabilities) (Details)
Income Taxes (Gross Unrecognized Tax Benefits) (Details)
Income Taxes (Income Before Income Taxes) (Details)
Income Taxes (Reconciliation Between Statutory And Effective Rates) (Details)
Income Taxes (Schedule Of Foreign And Domestic Income Taxes) (Details)
Income Taxes (Tables)
Income Taxes - Additional Information (Details)
Investments (Tables)
Investments - Available For Sale And Held To Maturity Investments (Details)
Investments - Maturities Of Available For Sale And Held To Maturity Securities (Details)
Leases (Tables)
Leases, Components Of Lease Expense
Leases, Future Minimum Payments
Leases, Supplemental Balance Sheet Information
Leases, Supplemental Cash Flow Information
Net Income Per Common And Common Equivalent Share
Net Income Per Common And Common Equivalent Share - Schedule Of Earnings Per Share Effect On Net Income And Weighted Averegae Number Of Dilutive Potential Common Stock (Details)
Net Income Per Common And Common Equivalent Share Net Income Per Common And Common Equivalent Share (Tables)
Segment Reporting
Segment Reporting (Tables)
Segment Reporting Information By Item Category (Details)
Segment Reporting Information By Segment (Details)
Stock-Based Compensation Plans
Stock-Based Compensation Plans (Tables)
Stock-Based Compensation Plans - Additional Information (Details)
Stock-Based Compensation Plans - Summary Of Rsu Transactions (Details)
Stock-Based Compensation Plans - Summary Of Stock-Based Compensation Expense (Details)
Stockholders' Equity
Stockholders' Equity (Stock Repurchased During Period) (Details)
Stockholders' Equity (Tables)
Stockholders' Equity - Additional Information (Details)
Summary Of Significant Accounting Policies
Summary Of Significant Accounting Policies (Merchandise Inventories (Details)
Summary Of Significant Accounting Policies (Policies)
Summary Of Significant Accounting Policies (Tables)
Summary Of Significant Accounting Policies - Additional Information (Details)

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-K Annual Report
Accession Number: 0000909832-21-000014
Submitted to the SEC: Tue Oct 05 2021 8:49:17 PM EST
Accepted by the SEC: Wed Oct 06 2021
Period: Sunday, August 29, 2021
Industry: Retail Variety Stores

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