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Costco Wholesale Corp New (COST) SEC Filing 10-K Annual report for the fiscal year ending Sunday, September 2, 2012

Costco Wholesale Corp New

CIK: 909832 Ticker: COST

Exhibit 99.1

 

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COSTCO WHOLESALE CORPORATION REPORTS FOURTH QUARTER AND

FISCAL YEAR 2012 OPERATING RESULTS

ISSAQUAH, Wash., October 10, 2012—Costco Wholesale Corporation (“Costco” or the “Company”) (Nasdaq: COST) announced today its operating results for the 17-week fourth quarter and the 53-week fiscal year 2012 ended September 2, 2012.

Net sales for the 17-week fourth quarter were $31.52 billion, an increase of 14 percent from $27.59 billion in the 16-week fourth quarter of fiscal 2011 ended August 28, 2011. Net sales for the 53-week fiscal year 2012 were $97.06 billion, an increase of 12 percent from $87.05 billion in the prior 52-week fiscal year.

Comparable sales for the 17-week fourth quarter and the 53-week fiscal year 2012, using comparable sales periods as well as comparable warehouses (those open for a year or more), were as follows:

 

     17 Weeks     53 Weeks  

U.S.

     6     7

International

     2     6

Total Company

     5     7
  

 

 

   

 

 

 

Inflation in gasoline prices had a slightly negative impact on comparable sales for the 17-week period and a positive impact for the 53-week period. Foreign currencies had a negative impact for both periods. Excluding these effects, comparable sales were as follows:

 

     17 Weeks     53 Weeks  

U.S.

     6     6

International

     7     8

Total Company

     6     6
  

 

 

   

 

 

 

Net income for the 17-week fourth quarter of fiscal 2012 was $609 million, or $1.39 per diluted share, compared to $478 million, or $1.08 per diluted share, during the 16-week fourth quarter of fiscal 2011. The fourth quarter this year included an $11.5 million pretax LIFO charge ($.02 per diluted share) compared to a $32 million pretax LIFO charge ($.04 per diluted share) in the fourth quarter of fiscal 2011. Net income for the 53-week fiscal 2012 was $1.71 billion, or $3.89 per diluted share, compared to $1.46 billion, or $3.30 per diluted share, during the 52-week fiscal year 2011. For all of fiscal 2012, the LIFO charge was $20.5 million pretax ($.03 per diluted share), compared to an $87 million pretax ($.12 per diluted share) LIFO charge last year.

 

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The following information was filed by Costco Wholesale Corp New (COST) on Wednesday, October 10, 2012 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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Inside this 10-K Annual Report

Document And Entity Information
Consolidated Balance Sheets
Consolidated Balance Sheets (parenthetical)
Consolidated Statements Of Cash Flows
Consolidated Statements Of Cash Flows (parenthetical)
Consolidated Statements Of Equity And Comprehensive Income
Consolidated Statements Of Income
Available For Sale And Held To Maturity Investments (detail)
Carrying Value And Estimated Fair Value Of Company's Long-term Debt (detail)
Carrying Value And Estimated Fair Value Of Company's Long-term Debt (parenthetical) (detail)
Commitments And Contingencies
Commitments And Contingencies- Additional Information (detail)
Debt
Debt (schedule Of Long-term Debt Maturities) (detail)
Debt (schedule Of Short-term Debt) (detail)
Debt (tables)
Debt - Additional Information (detail)
Fair Value Measurement
Fair Value Measurement (tables)
Fair Value Of Financial Assets And Financial Liabilities Measured On Recurring Basis (detail)
Fair Value Of Financial Assets And Financial Liabilities Measured On Recurring Basis (parenthetical) (detail)
Income Taxes
Income Taxes (components Of Deferred Tax Assets And Liabilities) (detail)
Income Taxes (gross Unrecognized Tax Benefits) (detail)
Income Taxes (income Before Income Taxes) (detail)
Income Taxes (reconciliation Between Statutory And Effective Rates) (detail)
Income Taxes (schedule Of Foreign And Domestic Income Taxes) (detail)
Income Taxes (tables)
Income Taxes - Additional Information (detail)
Investments
Investments (tables)
Leases
Leases (schedule Of Future Minimum Lease Payments For Capital Leases) (detail)
Leases (tables)
Leases - Additional Information (detail)
Maturities Of Available For Sale And Held To Maturity Securities (detail)
Net Income Per Common And Common Equivalent Share
Net Income Per Common And Common Equivalent Share (tables)
Proceeds From Sales Of Available For Sale Securities (detail)
Quarterly Financial Data (detail)
Quarterly Financial Data (parenthetical) (detail)
Quarterly Financial Data (unaudited)
Quarterly Financial Data (unaudited) (tables)
Retirement Plans
Retirement Plans - Additional Information (detail)
Schedule Of Earnings Per Share Effect On Net Income And Weighted Average Number Of Dilutive Potential Common Stock (detail)
Segment Reporting
Segment Reporting (tables)
Segment Reporting Information By Segment (detail)
Stock-based Compensation Plans
Stock-based Compensation Plans (stock Options Outstanding) (detail)
Stock-based Compensation Plans (tables)
Stock-based Compensation Plans - Additional Information (detail)
Stockholders' Equity
Stockholders' Equity (stock Repurchased During Period) (detail)
Stockholders' Equity (tables)
Stockholders' Equity - Additional Information (detail)
Summary Of Rsu Transactions (detail)
Summary Of Significant Accounting Policies
Summary Of Significant Accounting Policies (interest Income And Other, Net) (detail)
Summary Of Significant Accounting Policies (merchandise Inventories (detail)
Summary Of Significant Accounting Policies (other Assets) (detail)
Summary Of Significant Accounting Policies (other Current Liabilities) (detail)
Summary Of Significant Accounting Policies (policies)
Summary Of Significant Accounting Policies (receivables, Net) (detail)
Summary Of Significant Accounting Policies (tables)
Summary Of Significant Policies - Additional Information (detail)
Summary Of Stock-based Compensation Expense (detail)
Summary Stock Option Transactions (detail)
Tax Benefits Realized And Intrinsic Value Related To Stock Options Exercised (detail)
Ticker: COST
CIK: 909832
Form Type: 10-K Annual Report
Accession Number: 0001193125-12-428890
Submitted to the SEC: Fri Oct 19 2012 5:26:26 PM EST
Accepted by the SEC: Fri Oct 19 2012
Period: Sunday, September 2, 2012
Industry: Retail Variety Stores

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