Costco Wholesale Corporation Reports November Sales Results

Rhea-AI Summary

Costco Wholesale Corporation (COST) reported net sales of $18.13 billion for November 2021, a 15.7% increase from last year. For the first quarter ended November 21, 2021, net sales reached $49.42 billion, marking a 16.7% rise. The thirteen weeks ending November 28 saw total sales of $54.10 billion, an increase of 16.8%. Comparable sales grew 14.1% company-wide, with notable growth in the U.S. at 14.3%. Costco operates 824 warehouses globally, with significant e-commerce activity.

Positive

• Net sales for November 2021 were $18.13 billion, a 15.7% increase year-over-year.
• Total company net sales for the first quarter were $49.42 billion, up 16.7%.
• Comparable sales increased 14.1% across the company.
• Costco operates 824 warehouses worldwide, indicating strong infrastructure.

Negative

• None.

ISSAQUAH, Wash., Dec. 01, 2021 (GLOBE NEWSWIRE) -- Costco Wholesale Corporation (“Costco” or the “Company”) (Nasdaq: COST) today reported net sales of $18.13 billion for the retail month of November, the four weeks ended November 28, 2021, an increase of 15.7 percent from $15.67 billion last year.

For the twelve-week first quarter ended November 21, 2021, the Company reported net sales of $49.42 billion, an increase of 16.7 percent from $42.35 billion last year.

For the thirteen weeks ended November 28, 2021, the Company reported net sales of $54.10 billion, an increase of 16.8 percent from $46.33 billion last year.

Comparable sales were as follows:

		4 Weeks		12 Weeks		13 Weeks
	U.S.	14.3%		14.9%		15.2%
	Canada	15.7%		17.2%		16.8%
	Other International	11.0%		13.4%		13.0%
	Total Company	14.1%		15.0%		15.1%
	E-commerce	12.2%		14.3%		12.8%

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

		4 Weeks		12 Weeks		13 Weeks
	U.S.	9.1%		9.9%		10.2%
	Canada	7.6%		8.3%		8.1%
	Other International	11.3%		10.9%		11.0%
	Total Company	9.2%		9.8%		10.0%
	E-commerce	11.7%		13.3%		12.0%

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 3181269). This message will be available through 5:00 p.m. (PT) on Wednesday, December 8, 2021.

Costco currently operates 824 warehouses, including 571 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, 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, 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 November 2021?

Costco reported net sales of $18.13 billion for November 2021.

How much did Costco's sales increase in the first quarter of 2021?

Costco's sales increased by 16.7% in the first quarter ended November 21, 2021.

What is the percentage increase in comparable sales for Costco?

Comparable sales for Costco increased by 14.1%.

How many warehouses does Costco currently operate?

Costco operates 824 warehouses globally.