Costco Wholesale Corporation Reports December Sales Results

Rhea-AI Summary

Costco Wholesale Corporation (COST) announced a 12.3% year-over-year increase in net sales for December, totaling $19.14 billion. For the 18 weeks ending January 3, 2021, sales rose by 14.9% to $65.47 billion. Comparable sales in the U.S. grew by 9.6% for the five-week period and 12.2% over 18 weeks. Notably, e-commerce rose significantly by 62.5% and 75.2% during the respective periods. Costco operates 803 warehouses globally, with 558 in the U.S. and Puerto Rico.

Positive

• Net sales increased by 12.3% YoY for December to $19.14 billion.
• 18-week sales rose by 14.9% YoY to $65.47 billion.
• U.S. comparable sales grew by 9.6% for December and 12.2% for the 18-week period.
• E-commerce sales surged by 62.5% in December and 75.2% for the 18 weeks.

Negative

• None.

ISSAQUAH, Wash., Jan. 06, 2021 (GLOBE NEWSWIRE) -- Costco Wholesale Corporation (“Costco” or the “Company”) (Nasdaq: COST) today reported net sales of $19.14 billion for the retail month of December, the five weeks ended January 3, 2021, an increase of 12.3 percent from $17.04 billion last year.

For the 18 weeks ended January 3, 2021, the Company reported net sales of $65.47 billion, an increase of 14.9 percent from $56.99 billion during the similar period last year.

Comparable sales were as follows:

		5 Weeks		18 Weeks
	U.S.	9.6%		12.2%
	Canada	8.0%		13.7%
	Other International	19.4%		18.9%
	Total Company	10.7%		13.3%
	E-commerce	62.5%		75.2%

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

		5 Weeks		18 Weeks
	U.S.	11.0%		14.3%
	Canada	5.7%		13.3%
	Other International	15.8%		16.9%
	Total Company	10.9%		14.5%
	E-commerce	61.6%		74.8%

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 2754947). This message will be available through 5:00 p.m. (PT) on Wednesday, January 13, 2021.

Costco currently operates 803 warehouses, including 558 in the United States and Puerto Rico, 102 in Canada, 39 in Mexico, 29 in the United Kingdom, 27 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 net sales for December 2020?

Costco reported net sales of $19.14 billion for December 2020.

How much did Costco's sales increase for the 18-week period ended January 3, 2021?

Sales increased by 14.9% to $65.47 billion for the 18-week period.

What is the comparably sales growth for Costco in the U.S. for December 2020?

Comparable sales in the U.S. grew by 9.6% for December 2020.

How much did Costco's e-commerce sales grow in December 2020?

Costco's e-commerce sales increased by 62.5% in December 2020.