Costco Wholesale Corporation Reports December Sales Results

Rhea-AI Summary

Costco reported net sales of $22.24 billion for December 2021, a 16.2% increase from the previous year. For the 18-week period ending January 2, 2022, net sales reached $76.34 billion, up 16.6% year-over-year. Comparable sales in the U.S. grew by 15.9%, with Canada at 16.5% and Other International at 6.4%. E-commerce sales surged by 17.8% in December. Costco operates 828 warehouses worldwide, including 572 in the U.S. and Puerto Rico.

Positive

• Net sales for December 2021 increased by 16.2% to $22.24 billion.
• Total sales for the 18 weeks ended January 2, 2022, rose by 16.6% to $76.34 billion.
• U.S. comparable sales grew by 15.9%; Canada saw 16.5% growth.

Negative

• Other International sales growth was lower at 6.4%.
• Overall comparable sales growth of 14.5% for the total company over 5 weeks was less impressive compared to previous figures.

ISSAQUAH, Wash., Jan. 05, 2022 (GLOBE NEWSWIRE) -- Costco Wholesale Corporation (“Costco” or the “Company”) (Nasdaq: COST) today reported net sales of $22.24 billion for the retail month of December, the five weeks ended January 2, 2022, an increase of 16.2 percent from $19.14 billion last year.

For the 18 weeks ended January 2, 2022, the Company reported net sales of $76.34 billion, an increase of 16.6 percent from $65.47 billion last year.

Comparable sales were as follows:

		5 Weeks		18 Weeks
	U.S.	15.9%		15.4%
	Canada	16.5%		16.7%
	Other International	6.4%		11.0%
	Total Company	14.5%		14.9%
	E-commerce	17.8%		14.4%

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

		5 Weeks		18 Weeks
	U.S.	11.5%		10.5%
	Canada	13.6%		9.7%
	Other International	9.6%		10.5%
	Total Company	11.5%		10.4%
	E-commerce	17.8%		13.9%

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 7855736). This message will be available through 5:00 p.m. (PT) on Wednesday, January 12, 2022.

Costco currently operates 828 warehouses, including 572 in the United States and Puerto Rico, 105 in Canada, 40 in Mexico, 30 in Japan, 29 in the United Kingdom, 16 in Korea, 14 in Taiwan, 13 in Australia, four in Spain, and two each in France and China, and one in Iceland. 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, regulatory and other impacts related to climate change, and 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 December 2021?

Costco reported net sales of $22.24 billion for December 2021.

How much did Costco's sales increase for the 18 weeks ending January 2, 2022?

Sales increased by 16.6% to $76.34 billion.

What was the comparable sales growth for U.S. in December 2021?

U.S. comparable sales grew by 15.9%.

What is the e-commerce sales growth for Costco in December 2021?

E-commerce sales saw a growth of 17.8% in December.

How many warehouses does Costco operate worldwide?

Costco operates 828 warehouses globally.