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.

 

1


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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