Costco Wholesale Corporation Reports March Sales Results
April 07 2021 - 3:15PM
Costco Wholesale Corporation (“Costco” or the “Company”) (Nasdaq:
COST) today reported net sales of $18.21 billion for the retail
month of March, the five weeks ended April 4, 2021, an increase of
17.6 percent from $15.49 billion last year.
For the thirty-one weeks ended April 4, 2021,
the Company reported net sales of $111.37 billion, an increase of
15.7 percent from $96.25 billion during the similar period last
year.
Comparable sales were as follows:
|
|
|
|
|
|
|
|
5 Weeks |
|
31 Weeks |
|
|
U.S. |
13.9% |
|
12.6% |
|
|
Canada |
28.3% |
|
17.0% |
|
|
Other
International |
16.4% |
|
19.4% |
|
|
|
|
|
|
|
|
Total
Company |
16.0% |
|
14.1% |
|
|
E-commerce |
57.7% |
|
77.0% |
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|
|
|
|
|
Comparable sales excluding the impacts from
changes in gasoline prices and foreign exchange were as
follows:
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|
|
|
|
|
|
|
|
|
|
|
|
|
5 Weeks |
|
31 Weeks |
|
|
U.S. |
11.3% |
|
13.7% |
|
|
Canada |
13.0% |
|
13.5% |
|
|
Other
International |
7.7% |
|
15.7% |
|
|
|
|
|
|
|
|
Total
Company |
11.1% |
|
13.9% |
|
|
E-commerce |
54.5% |
|
75.9% |
|
|
|
|
|
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This year’s five-week March retail month had one
fewer shopping day versus last year, due to the calendar shift of
Easter. This negatively impacted total and comparable sales by
approximately one and one-half to two percent. Additional
discussion of these results is available in a pre-recorded
telephone message. It can be accessed by dialing 1-855-859-2056
(conference ID 3146223). This message will be available through
5:00 p.m. (PT) on Wednesday, April 14, 2021. Costco currently
operates 807 warehouses, including 559 in the United States and
Puerto Rico, 104 in Canada, 39 in Mexico, 29 in the United Kingdom,
28 in Japan, 16 in Korea, 14 in Taiwan, 12 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.
Certain statements contained in this document
and the pre-recorded telephone message 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,” “plan,” “potential,” “predict,”
“project,” “seek,” “should,” “target,” “will,” “would,” or similar
expressions and the negatives of those terms. Such forward-looking
statements involve risks and uncertainties that may cause actual
events, results or performance to differ materially from those
indicated by such statements. These risks and uncertainties
include, but are not limited to, domestic and international
economic conditions, including exchange rates, the effects of
competition and regulation, uncertainties in the financial markets,
consumer and small business spending patterns and debt levels,
breaches of security or privacy of member or business information,
conditions affecting the acquisition, development, ownership or use
of real estate, capital spending, actions of vendors, rising costs
associated with employees (generally including health-care costs),
energy and certain commodities, geopolitical conditions (including
tariffs), the ability to maintain effective internal control over
financial reporting, COVID-19 related factors and challenges,
including (among others) the duration of the pandemic, the unknown
long-term economic impact, reduced shopping due to illness, travel
restrictions or financial hardship, shifts in demand away from
discretionary or higher-priced products, reduced workforces due to
illness, quarantine, or government mandates, temporary store
closures due to reduced workforces or government mandates, or
supply-chain disruptions, capacity constraints of third-party
logistics suppliers, and other risks identified from time to time
in the Company’s public statements and reports filed with
the Securities and Exchange Commission. Forward-looking
statements speak only as of the date they are made, and the Company
does not undertake to update these statements, except as required
by law.
CONTACTS: Costco
Wholesale Corporation Richard Galanti, 425/313-8203 Bob Nelson,
425/313-8255 David Sherwood, 425/313-8239 Josh Dahmen,
425/313-8254
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