Costco Wholesale Corporation Reports July Sales Results

Rhea-AI Summary

Costco Wholesale Corporation reported strong financial results for July 2021, achieving net sales of $15.21 billion, a 16.6% increase from the previous year. For the forty-eight weeks ended August 1, 2021, total net sales reached $176.30 billion, marking a 17.8% growth. Comparable sales in the U.S. rose by 13.1% for the month and 14.8% year-to-date. Notably, e-commerce sales increased by 48.9% for the year. Costco operates 813 warehouses globally, reflecting its robust retail performance.

Positive

• Net sales for July 2021 reached $15.21 billion, a 16.6% year-over-year increase.
• Total net sales for the forty-eight weeks amounted to $176.30 billion, up 17.8% from last year.
• Comparable sales in the U.S. rose 13.1% for July and 14.8% year-to-date.
• E-commerce sales surged by 48.9% for the year.

Negative

• None.

ISSAQUAH, Wash, Aug. 04, 2021 (GLOBE NEWSWIRE) -- Costco Wholesale Corporation (“Costco” or the “Company”) (Nasdaq: COST) today reported net sales of $15.21 billion for the retail month of July, the four weeks ended August 1, 2021, an increase of 16.6 percent from $13.04 billion last year.

For the forty-eight weeks ended August 1, 2021, the Company reported net sales of $176.30 billion, an increase of 17.8 percent from $149.66 billion last year.

Comparable sales were as follows:

		4 Weeks			48 Weeks
	U.S.	13.1%			14.8%
	Canada	16.5%			20.6%
	Other International	14.4%			19.7%
	Total Company	13.8%			16.2%
	E-commerce	7.4%			48.9%

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

		4 Weeks			48 Weeks
	U.S.	8.5%			13.9%
	Canada	5.5%			12.7%
	Other International	7.8%			13.9%
	Total Company	8.0%			13.8%
	E-commerce	5.7%			47.0%

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 1462298). This message will be available through 5:00 p.m. (PT) on Wednesday, August 11, 2021.

Costco currently operates 813 warehouses, including 562 in the United States and Puerto Rico, 105 in Canada, 39 in Mexico, 30 in Japan, 29 in the United Kingdom, 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, 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, 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 July 2021?

Costco reported net sales of $15.21 billion for July 2021.

How much did Costco's total net sales increase for the forty-eight weeks ended August 1, 2021?

Costco's total net sales for the forty-eight weeks increased by 17.8% to $176.30 billion.

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

Comparable sales in the U.S. rose by 13.1% for July 2021.

How did e-commerce sales perform for Costco in 2021?

E-commerce sales increased by 48.9% year-to-date.