Costco Wholesale Corporation Reports April Sales Results

Rhea-AI Summary

Costco Wholesale Corporation reported impressive financial results for the retail month of April 2021. Net sales reached $15.21 billion, marking a 33.5% increase from $11.39 billion in April 2020. For the 35 weeks ended May 2, 2021, total net sales reached $126.58 billion, up 17.6% from last year's $107.64 billion. Comparable sales also showed significant growth, particularly in Canada with a 44.0% increase. This growth was aided by an additional shopping day due to the Easter calendar shift, positively impacting sales by approximately 2.5%.

Positive

• Net sales for April 2021 reached $15.21 billion, up 33.5% from last year.
• Total net sales for 35 weeks amounted to $126.58 billion, a 17.6% increase year-over-year.
• Comparable sales increased significantly, with Canada seeing a 44.0% rise.
• The additional shopping day in April positively impacted sales by approximately 2.5%.

Negative

• None.

ISSAQUAH, Wash., May 05, 2021 (GLOBE NEWSWIRE) -- Costco Wholesale Corporation (“Costco” or the “Company”) (Nasdaq: COST) today reported net sales of $15.21 billion for the retail month of April, the four weeks ended May 2, 2021, an increase of 33.5 percent from $11.39 billion last year.

For the thirty-five weeks ended May 2, 2021, the Company reported net sales of $126.58 billion, an increase of 17.6 percent from $107.64 billion last year.

Comparable sales were as follows:

		4 Weeks		35 Weeks
	U.S.	30.4%		14.5%
	Canada	44.0%		19.7%
	Other International	33.5%		20.8%
	Total Company	32.5%		16.1%
	E-commerce	20.5%		67.7%

Comparable sales excluding the impacts from changes in gasoline prices and foreign exchange were as follows:

		4 Weeks		35 Weeks
	U.S.	24.9%		15.0%
	Canada	23.8%		14.7%
	Other International	20.3%		16.2%
	Total Company	24.2%		15.1%
	E-commerce	17.3%		66.2%

This year’s April retail month had one additional shopping day versus last year, due to the calendar shift of Easter. This positively impacted total and comparable sales by approximately two and one-half 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 4159061). This message will be available through 5:00 p.m. (PT) on Wednesday, May 12, 2021.

Costco currently operates 809 warehouses, including 559 in the United States and Puerto Rico, 105 in Canada, 39 in Mexico, 29 in the United Kingdom, 29 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

                

 

FAQ

What were Costco's April 2021 net sales figures?

Costco reported net sales of $15.21 billion for April 2021, a 33.5% increase from the previous year.

How much did Costco's net sales increase for the 35 weeks ended May 2, 2021?

For the 35 weeks ended May 2, 2021, Costco's net sales increased by 17.6% to $126.58 billion.

What was the change in comparable sales for Costco in Canada?

Costco experienced a 44.0% increase in comparable sales in Canada for April 2021.

How did the Easter calendar shift impact Costco's sales?

The Easter calendar shift provided an additional shopping day in April, positively affecting sales by approximately 2.5%.