Costco Wholesale Corporation Reports January Sales Results

Rhea-AI Summary

Costco Wholesale Corporation (COST) announced a significant rise in net sales for January 2021, reaching $13.64 billion, up 17.9% from $11.57 billion in January 2020. For the twenty-two weeks ending January 31, 2021, net sales totaled $79.11 billion, an increase of 15.4% from $68.56 billion in the same period last year. U.S. comparable sales rose 15.4% for the month and 12.8% year-to-date, with e-commerce sales skyrocketing by 106.7% in January.

Positive

• January 2021 net sales increased by 17.9% to $13.64 billion.
• Net sales for the twenty-two weeks ended January 31, 2021, rose 15.4% to $79.11 billion.
• U.S. comparable sales increased by 15.4% for January and 12.8% year-to-date.
• E-commerce sales surged by 106.7% in January.

Negative

• None.

ISSAQUAH, Wash., Feb. 03, 2021 (GLOBE NEWSWIRE) -- Costco Wholesale Corporation (“Costco” or the “Company”) (Nasdaq: COST) today reported net sales of $13.64 billion for the retail month of January, the four weeks ended January 31, 2021, an increase of 17.9 percent from $11.57 billion last year.

For the twenty-two weeks ended January 31, 2021, the Company reported net sales of $79.11 billion, an increase of 15.4 percent from $68.56 billion during the similar period last year.

Comparable sales were as follows:

	4 Weeks		22 Weeks
U.S.	15.4%		12.8%
Canada	15.2%		13.9%
Other International	19.0%		19.0%
Total Company	15.9%		13.8%
E-commerce	106.7%		79.5%

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

	4 Weeks		22 Weeks
U.S.	16.4%		14.7%
Canada	12.2%		13.1%
Other International	15.3%		16.7%
Total Company	15.7%		14.7%
E-commerce	105.4%		78.9%

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 7270679). This message will be available through 5:00 p.m. (PT) on Wednesday, February 10, 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 January 2021 sales figures?

Costco reported net sales of $13.64 billion for January 2021, a 17.9% increase from $11.57 billion in January 2020.

How did Costco perform in the first twenty-two weeks of 2021?

For the twenty-two weeks ended January 31, 2021, Costco's net sales totaled $79.11 billion, up 15.4% from $68.56 billion during the same period the previous year.

What was the increase in U.S. comparable sales for Costco in January 2021?

U.S. comparable sales for Costco increased by 15.4% in January 2021.

How much did Costco's e-commerce sales grow in January 2021?

Costco's e-commerce sales surged by 106.7% in January 2021.