Costco Wholesale Corporation Reports January Sales Results

Rhea-AI Summary

Costco Wholesale Corporation (COST) reported net sales of $15.76 billion for January 2022, marking a 15.5% increase from last year. The early Lunar New Year positively impacted sales, contributing about 4% to Other International sales and 0.5% to total sales. For the 22 weeks ended January 30, 2022, sales rose to $92.10 billion, up 16.4% from $79.11 billion in the previous year. Comparable sales showed growth across regions: U.S. at 14.1%, Canada at 17.8%, and Other International at 11.8%.

Positive

• Net sales for January reached $15.76 billion, a 15.5% year-over-year increase.
• Sales for the 22 weeks totaled $92.10 billion, up 16.4% from last year.
• U.S. comparable sales increased by 14.1%, while Canada saw a rise of 17.8%.

Negative

• None.

ISSAQUAH, Wash., Feb. 02, 2022 (GLOBE NEWSWIRE) -- Costco Wholesale Corporation (“Costco” or the “Company”) (Nasdaq: COST) today reported net sales of $15.76 billion for the retail month of January, the four weeks ended January 30, 2022, an increase of 15.5 percent from $13.64 billion last year.

Lunar New Year/Chinese New Year occurred on February 1, 11 days earlier this year. The shift favorably impacted January’s Other International and Total Company sales by approximately 4% and 0.5%, respectively.

For the twenty-two weeks ended January 30, 2022, the Company reported net sales of $92.10 billion, an increase of 16.4 percent from $79.11 billion last year.

Comparable sales were as follows:

		4 Weeks		22 Weeks
	U.S.	14.1%		15.2%
	Canada	17.8%		16.9%
	Other International	11.8%		11.1%
	Total Company	14.2%		14.8%
	E-commerce	9.0 %		13.6 %

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

		4 Weeks		22 Weeks
	U.S.	9.5%		10.4%
	Canada	13.9%		10.4%
	Other International	14.6%		11.3%
	Total Company	10.8%		10.5%
	E-commerce	9.0 %		13.1 %

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 7859674). This message will be available through 5:00 p.m. (PT) on Wednesday, February 9, 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, 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 January 2022?

Costco's net sales for January 2022 were $15.76 billion, a 15.5% increase from the previous year.

How did the Lunar New Year impact Costco's sales?

The early Lunar New Year contributed approximately 4% to Other International sales and 0.5% to total sales in January.

What were Costco's comparable sales growth rates?

In January, U.S. comparable sales grew by 14.1%, Canada's by 17.8%, and Other International's by 11.8%.

What is the total sales figure for Costco for the 22 weeks ended January 30, 2022?

For the 22 weeks ended January 30, 2022, Costco reported total sales of $92.10 billion, up 16.4% from $79.11 billion last year.