Costco Wholesale Corporation Reports May Sales Results

Rhea-AI Summary

Costco Wholesale Corporation (COST) reported a significant boost in net sales for May 2021, reaching $15.59 billion, an increase of 24.2% from $12.55 billion in May 2020. Year-to-date sales for the first 39 weeks totaled $142.17 billion, up 18.3% from $120.19 billion the previous year. U.S. comparable sales climbed 21.9% for the month and 15.3% for the year-to-date. The calendar shift due to Memorial Day added an estimated 2-2.5% to sales. Costco operates 809 warehouses worldwide.

Positive

• Net sales for May 2021 reached $15.59 billion, a 24.2% increase YoY.
• Year-to-date sales increased to $142.17 billion, reflecting an 18.3% increase.
• U.S. comparable sales grew by 21.9% for May and 15.3% year-to-date.
• The calendar shift from Memorial Day positively influenced sales by 2-2.5%.
• Costco operates 809 warehouses globally, showcasing its expansive footprint.

Negative

• None.

ISSAQUAH, Wash., June 03, 2021 (GLOBE NEWSWIRE) -- Costco Wholesale Corporation (“Costco” or the “Company”) (Nasdaq: COST) today reported net sales of $15.59 billion for the retail month of May, the four weeks ended May 30, 2021, an increase of 24.2 percent from $12.55 billion last year.

For the thirty-nine weeks ended May 30, 2021, the Company reported net sales of $142.17 billion, an increase of 18.3 percent from $120.19 billion last year.

Comparable sales were as follows:

		4 Weeks		39 Weeks
	U.S.	21.9%		15.3%
	Canada	28.8%		20.7%
	Other International	21.5%		20.9%
	Total Company	22.8%		16.8%
	E-commerce	12.1%		58.9%

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

		4 Weeks		39 Weeks
	U.S.	16.7%		15.3%
	Canada	8.9%		14.1%
	Other International	9.6%		15.6%
	Total Company	14.7%		15.2%
	E-commerce	8.7%		57.1%

This year’s May retail month had one additional shopping day versus last year, due to the calendar shift of Memorial Day. This shift positively impacted sales by approximately two to two and one-half percent.

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 4066686). This message will be available through 5:00 p.m. (PT) on Thursday, June 10, 2021.

Costco currently operates 809 warehouses, including 559 in the United States and Puerto Rico, 105 in Canada, 39 in Mexico, 29 in the United Kingdom, 29 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, 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 May 2021?

Costco reported net sales of $15.59 billion for May 2021, a 24.2% increase from the previous year.

How much did Costco's sales increase year-to-date as of May 2021?

As of May 30, 2021, Costco's year-to-date sales were $142.17 billion, up 18.3% from $120.19 billion last year.

What were the comparable sales figures for the U.S. in May 2021?

U.S. comparable sales increased by 21.9% for the month of May 2021.

Did the Memorial Day calendar shift impact Costco's sales?

Yes, the Memorial Day calendar shift contributed approximately 2-2.5% to Costco's sales for May 2021.

How many warehouses does Costco operate as of June 2021?

Costco currently operates 809 warehouses worldwide.