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Exhibit 99.1
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COSTCO WHOLESALE CORPORATION REPORTS FOURTH QUARTER AND
FISCAL YEAR 2013 OPERATING RESULTS AND SEPTEMBER SALES RESULTS
ISSAQUAH, Wash., October 9, 2013 - 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 2013 ended September 1, 2013, and its September sales results for the five weeks ended October 6, 2013.
Net sales for the 16-week fourth quarter were $31.77 billion, an increase of one percent from $31.52 billion in the 17-week fourth quarter of fiscal 2012 ended September 2, 2012. Net sales for the 52-week fiscal year 2013 were $102.87 billion, an increase of six percent from $97.06 billion in the prior 53-week fiscal year.
Comparable sales were as follows:
16 Weeks | 52 Weeks | |||||||
U.S. |
5 | % | 6 | % | ||||
International |
4 | % | 6 | % | ||||
Total Company |
5 | % | 6 | % | ||||
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For the 16-week period, changes in foreign exchange rates had a negative impact on comparable sales. Excluding this impact, comparable sales were as follows:
16 Weeks | 52 Weeks | |||||||
U.S. |
5 | % | 6 | % | ||||
International |
7 | % | 6 | % | ||||
Total Company |
5 | % | 6 | % | ||||
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Net income for the fourth quarter of fiscal 2013 was $617 million, or $1.40 per diluted share, compared to $609 million, or $1.39 per diluted share, during the fourth quarter of fiscal 2012.
Net income for fiscal 2013 was $2.04 billion, or $4.63 per diluted share, compared to $1.71 billion, or $3.89 per diluted share, in fiscal year 2012. Net income for fiscal 2013 was positively impacted by a second quarter $62 million ($.14 per diluted share) tax benefit in connection with the portion of the special cash dividend paid in December 2012 to the Company 401(k) plan participants.
For the five-week reporting month of September, ended October 6, 2013, the Company reported net sales of $9.86 billion, an increase of six percent from $9.33 billion during the similar five-week period last year.
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Costco Wholesale Corp New's Definitive Proxy Statement (Form DEF 14A) filed after their 2013 10-K Annual Report includes:
Financial Statements, Disclosures and Schedules
Inside this 10-K Annual Report
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: 0001445305-13-002422
Submitted to the SEC: Wed Oct 16 2013 3:39:54 PM EST
Accepted by the SEC: Wed Oct 16 2013
Period: Sunday, September 1, 2013
Industry: Retail Variety Stores