Costco Wholesale Corporation Reports June Sales Results

Rhea-AI Summary

Costco Wholesale Corporation (COST) reported net sales of $22.78 billion for June, marking a 20.4% increase from the previous year. For the forty-four weeks ended July 3, 2022, sales reached $188.34 billion, up 16.9% year-over-year. U.S. comparable sales grew by 21.5% for the five-week period and 16.6% for the forty-four weeks. This year's June included one extra shopping day, boosting sales by approximately 2% overall. Costco operates 833 warehouses globally and continues to expand its e-commerce presence.

Positive

• Net sales for June increased by 20.4% to $22.78 billion.
• Total sales for forty-four weeks reached $188.34 billion, up 16.9% year-over-year.
• U.S. comparable sales rose by 21.5% for the five-week period.

Negative

• None.

ISSAQUAH, Wash., July 07, 2022 (GLOBE NEWSWIRE) -- Costco Wholesale Corporation (“Costco” or the “Company”) (Nasdaq: COST) today reported net sales of $22.78 billion for the retail month of June, the five weeks ended July 3, 2022, an increase of 20.4 percent from $18.92 billion last year.

For the forty-four weeks ended July 3, 2022, the Company reported net sales of $188.34 billion, an increase of 16.9 percent from $161.09 billion during the similar period last year.

Comparable sales were as follows:

		5 Weeks		44 Weeks
	U.S.	21.5%		16.6%
	Canada	14.2%		15.9%
	Other International	4.7%		7.4%
	Total Company	18.1%		15.3%
	E-commerce	7.0%		10.6%

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

		5 Weeks		44 Weeks
	U.S.	13.2%		11.0%
	Canada	13.7%		12.1%
	Other International	11.9%		9.8%
	Total Company	13.0%		11.0%
	E-commerce	8.3%		10.8%

This year’s five-week June retail month had one additional shopping day in the U.S. versus last year, due to the timing of Independence Day. This benefited Total Company total and comparable sales by approximately two percent, and U.S. total and comparable sales by approximately three percent.

Additional discussion of these results is available in a pre-recorded telephone message. It can be accessed by dialing 1-888-301-8813. This message will be available through 5:00 p.m. (PT) on Thursday, July 14, 2022.

Costco currently operates 833 warehouses, including 574 in the United States and Puerto Rico, 107 in Canada, 40 in Mexico, 31 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 and the Ukraine conflict), 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 are Costco's net sales for June 2022?

Costco reported net sales of $22.78 billion for June 2022.

How much did Costco's sales increase for the forty-four weeks ended July 3, 2022?

Sales increased by 16.9% for the forty-four weeks ended July 3, 2022.

What was the increase in U.S. comparable sales for June 2022?

U.S. comparable sales increased by 21.5% for June 2022.

How many warehouses does Costco operate?

Costco operates 833 warehouses globally.

What impact did the additional shopping day have on Costco's sales in June?

The additional shopping day contributed approximately 2% to total and comparable sales.