Costco Wholesale Corporation Reports December Sales Results

Rhea-AI Summary

Costco Wholesale Corporation (COST) reported net sales of $23.80 billion for December 2022, a 7.0% increase from last year. For the 18 weeks ending January 1, 2023, net sales reached $82.16 billion, up 7.6%. Comparable sales included 6.2% growth in the U.S. and 4.7% in Canada. However, e-commerce sales declined by 6.4% for the month and 4.8% year-to-date. Costco operates 847 warehouses across various countries. The company emphasizes that forward-looking statements involve risks and uncertainties.

Positive

• Net sales for December 2022 reached $23.80 billion, a 7.0% increase year-over-year.
• Total net sales for the 18 weeks ended January 1, 2023, were $82.16 billion, reflecting a 7.6% rise.
• Comparable sales growth of 6.2% in the U.S. and 4.7% in Canada highlights strong domestic performance.

Negative

• E-commerce sales fell by 6.4% for December and 4.8% year-to-date, indicating challenges in online retail.

ISSAQUAH, Wash., Jan. 05, 2023 (GLOBE NEWSWIRE) -- Costco Wholesale Corporation (“Costco” or the “Company”) (Nasdaq: COST) today reported net sales of $23.80 billion for the retail month of December, the five weeks ended January 1, 2023, an increase of 7.0 percent from $22.24 billion last year.

For the 18 weeks ended January 1, 2023, the Company reported net sales of $82.16 billion, an increase of 7.6 percent from $76.34 billion last year.

Comparable sales were as follows:

	5 Weeks		18 Weeks
U.S.	6.2%		8.1%
Canada	4.7%		3.1%
Other International	2.5%		-1.1%
Total Company	5.5%		6.1%
E-commerce	-6.4%		-4.8%

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

	5 Weeks		18 Weeks
U.S.	6.4%		6.3%
Canada	10.9%		9.1%
Other International	9.1%		9.1%
Total Company	7.3%		7.1%
E-commerce	-5.4%		-3.4%

Additional discussion of these results is available in a pre-recorded telephone message. It can be accessed by dialing 1-833-431-3960. This message will be available through 5:00 p.m. (PT) on Thursday, January 12, 2023.

Costco currently operates 847 warehouses, including 583 in the United States and Puerto Rico, 107 in Canada, 40 in Mexico, 31 in Japan, 29 in the United Kingdom, 18 in Korea, 14 in Taiwan, 14 in Australia, four in Spain, two each in France and China, and one each in Iceland, New Zealand and Sweden. 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 and the Ukraine conflict), the ability to maintain effective internal control over financial reporting, regulatory and other impacts related to climate change, COVID-19 related factors and challenges, 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

COST-Sales

FAQ

What are Costco's net sales for December 2022?

Costco reported net sales of $23.80 billion for December 2022, a 7.0% increase from the previous year.

How did Costco perform in sales for the 18 weeks ending January 1, 2023?

For the 18 weeks ended January 1, 2023, Costco reported net sales of $82.16 billion, up 7.6% year-over-year.

What was the comparable sales growth for Costco in the U.S. and Canada?

Costco reported comparable sales growth of 6.2% in the U.S. and 4.7% in Canada.

Did e-commerce sales increase or decrease for Costco?

E-commerce sales for December 2022 decreased by 6.4%, and year-to-date they fell by 4.8%.