Costco Wholesale Corporation Reports October Sales Results

Rhea-AI Summary

Costco Wholesale Corporation reported net sales of $18.53 billion for the retail month of October, an increase of 4.5% from last year. For the first eight weeks of the fiscal year, net sales were $36.57 billion, up 5.3% from the previous year. Comparable sales showed positive growth in all regions. Costco currently operates 862 warehouses worldwide and also operates e-commerce sites in multiple countries.

Positive

• Net sales for October increased by 4.5% compared to the previous year.
• Net sales for the first eight weeks of the fiscal year increased by 5.3%.
• Comparable sales showed positive growth in all regions.
• Costco operates 862 warehouses worldwide.
• Costco operates e-commerce sites in multiple countries.

Negative

• None.

ISSAQUAH, Wash., Nov. 01, 2023 (GLOBE NEWSWIRE) -- Costco Wholesale Corporation (“Costco” or the “Company”) (Nasdaq: COST) today reported net sales of $18.53 billion for the retail month of October, the four weeks ended October 29, 2023, an increase of 4.5 percent from $17.73 billion last year.

For the first eight weeks of the fiscal year ended October 29, 2023, the Company reported net sales of $36.57 billion, an increase of 5.3 percent from $34.74 billion for the first eight weeks of fiscal year 2023 ended October 23, 2022.

Comparable sales were as follows:

	4 Weeks		8 Weeks
U.S.	1.1%		2.1%
Canada	8.5%		7.5%
Other International	8.2%		10.9%
Total Company	3.0%		3.9%
E-commerce	3.7%		3.7%

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

	4 Weeks		8 Weeks
U.S.	2.2%		2.4%
Canada	9.5%		8.4%
Other International	4.1%		6.1%
Total Company	3.4%		3.7%
E-commerce	3.1%		3.2%

Additional discussion of these results is available in a pre-recorded message. It can be accessed by dialing 1-877-564-4898 or by visiting investor.costco.com (click on “Events & Presentations”). This message will be available through 5:00 p.m. (PT) on Wednesday, November 8, 2023.
        
Costco currently operates 862 warehouses, including 592 in the United States and Puerto Rico, 107 in Canada, 40 in Mexico, 33 in Japan, 29 in the United Kingdom, 18 in Korea, 15 in Australia, 14 in Taiwan, five in China, four in Spain, two in France, and one each in Iceland, New Zealand and Sweden. Costco also operates e-commerce sites in the U.S., Canada, the U.K., Mexico, Korea, Taiwan, Japan and Australia.

Certain statements contained in this document and the pre-recorded 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, public-health related factors, 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. Comparable sales and comparable sales excluding impacts from changes in gasoline prices and foreign exchange are intended as supplemental information and are not a substitute for net sales presented in accordance with GAAP.       

CONTACTS:	Costco Wholesale Corporation
	Richard Galanti, 425/313-8203
	David Sherwood, 425/313-8239
	Josh Dahmen, 425/313-8254

FAQ

What were Costco's net sales for October?

Costco reported net sales of $18.53 billion for the retail month of October.

What was the growth rate of net sales for the first eight weeks of the fiscal year?

Net sales for the first eight weeks of the fiscal year increased by 5.3%.

How many warehouses does Costco currently operate?

Costco currently operates 862 warehouses worldwide.

In how many countries does Costco operate e-commerce sites?

Costco operates e-commerce sites in multiple countries.