Costco Wholesale Corporation Reports August Sales Results

Rhea-AI Summary

Costco Wholesale Corporation (COST) reported robust financial results for August 2021. Net sales surged to $15.75 billion, up 16.2% from the previous year. In the fourth quarter, sales reached $61.4 billion, a 17.4% increase year-over-year. The fiscal year ended with total sales of $192.1 billion, reflecting a 17.7% growth compared to $163.2 billion in 2020. Comparable sales were strong across regions, with notable U.S. growth of 14.7% for the month and 14.8% for the year.

Positive

• Net sales for August 2021 reached $15.75 billion, up 16.2% year-over-year.
• Fourth-quarter sales were $61.4 billion, a 17.4% increase compared to last year.
• Fiscal year sales totaled $192.1 billion, reflecting a growth of 17.7%.
• U.S. comparable sales increased by 14.7% in August 2021.

Negative

• None.

ISSAQUAH, Wash., Sept. 01, 2021 (GLOBE NEWSWIRE) -- Costco Wholesale Corporation (“Costco” or the “Company”) (Nasdaq: COST) today reported net sales of $15.75 billion for the retail month of August, the four weeks ended August 29, 2021, an increase of 16.2 percent from $13.56 billion last year.

For the 16-week fourth quarter ended August 29, 2021, the Company reported net sales of $61.4 billion, an increase of 17.4 percent compared to net sales of $52.3 billion during the similar period last year.

For the 52-week fiscal year ended August 29, 2021, the Company reported net sales of $192.1 billion, an increase of 17.7 percent from the $163.2 billion during the similar period last year.

Comparable sales were as follows:

		4 Weeks		16 Weeks		52 Weeks
		Retail Month		Fourth Quarter		Fiscal Year
	U.S.	14.7%		14.9%		14.8%
	Canada	13.4%		19.5%		20.0%
	Other International	12.2%		15.0%		19.1%
	Total Company	14.2%		15.5%		16.0%
	E-commerce	2.8%		11.2%		44.4%

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

		4 Weeks		16 Weeks		52 Weeks
		Retail Month		Fourth Quarter		Fiscal Year
	U.S.	10.1%		10.3%		13.6%
	Canada	5.2%		6.7%		12.1%
	Other International	7.3%		7.3%		13.4%
	Total Company	9.1%		9.4%		13.4%
	E-commerce	1.8%		8.9%		42.6%

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 1448887). This message will be available through 5:00 p.m. (PT) on Wednesday, September 8, 2021.

Costco currently operates 815 warehouses, including 564 in the United States and Puerto Rico, 105 in Canada, 39 in Mexico, 30 in Japan, 29 in the United Kingdom, 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, inflation or deflation, 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 for products, reduced workforces due to illness, quarantine, or government mandates, temporary store closures or operational limitations due to 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 net sales for August 2021?

Costco reported net sales of $15.75 billion for August 2021, a 16.2% increase from the previous year.

How did Costco perform in the fourth quarter of 2021?

In the fourth quarter, Costco's sales reached $61.4 billion, marking a 17.4% increase compared to the same period last year.

What was Costco's fiscal year sales for 2021?

For the fiscal year ended August 29, 2021, Costco reported total sales of $192.1 billion, an increase of 17.7% from $163.2 billion the previous year.

What were the comparable sales growth rates for Costco in 2021?

U.S. comparable sales for August 2021 were up 14.7%, and for the fiscal year, they increased by 14.8%.