Costco Wholesale Corporation Reports October Sales Results

Rhea-AI Summary

Costco Wholesale Corporation (COST) reported robust financial results for October 2021, with net sales of $16.47 billion, a 19.2% increase from the previous year. For the nine weeks ending October 31, net sales reached $35.97 billion, marking a 17.3% increase. Comparable sales showed positive growth across various segments: U.S. sales up 17.0%, Canada up 20.6%, and Other International up 17.0%. E-commerce sales also rose by 16.5% for the month.

Positive

• Net sales increased by 19.2% in October 2021 compared to the previous year.
• Nine-week sales reached $35.97 billion, up 17.3% year-over-year.
• Strong comparable sales growth in the U.S. (17.0%), Canada (20.6%), and Other International (17.0%).
• E-commerce sales growth of 16.5% in October.

Negative

• None.

ISSAQUAH, Wash., Nov. 03, 2021 (GLOBE NEWSWIRE) -- Costco Wholesale Corporation (“Costco” or the “Company”) (Nasdaq: COST) today reported net sales of $16.47 billion for the retail month of October, the four weeks ended October 31, 2021, an increase of 19.2 percent from $13.82 billion last year.

For the nine weeks ended October 31, 2021, the Company reported net sales of $35.97 billion, an increase of 17.3 percent from $30.66 billion last year.

Comparable sales were as follows:

		4 Weeks		9 Weeks
	U.S.	17.0%		15.6%
	Canada	20.6%		17.3%
	Other International	17.0%		14.1%
	Total Company	17.5%		15.6%
	E-commerce	16.5%		13.2%

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

		4 Weeks		9 Weeks
	U.S.	11.7%		10.7%
	Canada	10.0%		8.4%
	Other International	14.7%		10.8%
	Total Company	11.8%		10.4%
	E-commerce	15.3%		12.1%

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 5244517). This message will be available through 5:00 p.m. (PT) on Wednesday, November 10, 2021.

Costco currently operates 820 warehouses, including 568 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, 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 are Costco's net sales for October 2021?

Costco reported net sales of $16.47 billion for October 2021, a 19.2% increase from the same month last year.

How did Costco perform for the nine weeks ended October 31, 2021?

For the nine weeks ended October 31, 2021, Costco's net sales totaled $35.97 billion, representing a 17.3% increase year-over-year.

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

Comparable sales in the U.S. increased by 17.0% for the four weeks ended October 31, 2021.

How did Costco's e-commerce sales perform in October 2021?

E-commerce sales for Costco rose by 16.5% in October 2021 compared to the same period last year.