Costco Wholesale Corporation Reports June Sales Results

Rhea-AI Summary

Costco Wholesale Corporation (COST) reported net sales of $16.18 billion for June 2020, reflecting an increase of 11.1% compared to $14.57 billion in June 2019. For the forty-four weeks ending July 5, 2020, total net sales reached $136.37 billion, up 8.1% from $126.13 billion in the previous year. Comparable sales figures also showed positive growth, with U.S. sales increasing by 11.0% during the five-week period and 7.2% for the year-to-date. E-commerce sales surged 85.8% for the month and 42.8% year-to-date.

Positive

• Net sales increased by 11.1% for June 2020 compared to June 2019.
• Total net sales for the forty-four weeks rose 8.1% year-over-year.
• U.S. comparable sales grew by 11.0% in June and 7.2% year-to-date.
• E-commerce sales saw a significant boost of 85.8% for June and 42.8% year-to-date.

Negative

• None.

ISSAQUAH, Wash., July 08, 2020 (GLOBE NEWSWIRE) -- Costco Wholesale Corporation (“Costco” or the “Company”) (Nasdaq: COST) today reported net sales of $16.18 billion for the retail month of June, the five weeks ended July 5, 2020, an increase of 11.1 percent from $14.57 billion last year.

For the forty-four weeks ended July 5, 2020, the Company reported net sales of $136.37 billion, an increase of 8.1 percent from $126.13 billion during the similar period last year.

Comparable sales were as follows:

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		5 Weeks		44 Weeks
	U.S.	11.0	%		7.2%
	Canada	8.4	%		3.6%
	Other International	18.0	%		7.6%
	Total Company	11.5	%		6.7%
	E-commerce	85.8	%		42.8%

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

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24%; min-width:24%;">	25%; min-width:25%;">	25%; min-width:25%;">	1%; min-width:1%;">	25%; min-width:25%;">
		5 Weeks		44 Weeks
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	U.S.	13.6%		8.1	%
	Canada	12.2%		6.0	%
	Other International	22.1%		10.2	%
	Total Company	14.4%		8.1	%
	E-commerce	86.7%		43.4	%

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 6274297). This message will be available through 5:00 p.m. (PT) on Wednesday, July 15, 2020.

Costco currently operates 788 warehouses, including 548 in the United States and Puerto Rico, 100 in Canada, 39 in Mexico, 29 in the United Kingdom, 26 in Japan, 16 in Korea, 13 in Taiwan, 12 in Australia, two 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 workforce due to illness, quarantine, or government mandates, temporary store closures due to reduced workforces or government mandates, or supply-chain disruptions, 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 sales figures for June 2020?

Costco reported net sales of $16.18 billion for June 2020, an increase of 11.1% from the previous year.

What is Costco's ticker symbol?

Costco's ticker symbol is COST.

How did Costco's e-commerce sales perform in June 2020?

E-commerce sales increased by 85.8% in June 2020 compared to the same month last year.

What are the comparable sales growth percentages for Costco in 2020?

Comparable sales increased by 11.0% in the U.S. for June and 7.2% year-to-date.

What was Costco's total sales for the forty-four weeks ended July 5, 2020?

Total sales for the forty-four weeks reached $136.37 billion, an increase of 8.1% from the prior year.