Costco Wholesale Corporation Reports September Sales Results

Rhea-AI Summary

Costco Wholesale (Nasdaq: COST) reported net sales of $24.62 billion for September 2024, a 9.0% increase from $22.59 billion last year. Comparable sales showed growth across all regions, with total company comparable sales at 6.7% and e-commerce sales surging 22.9%. Excluding impacts from gasoline prices and foreign exchange, total company comparable sales were 8.9%.

The company noted that sales benefited from increased consumer activity due to Hurricane Helene and port strikes, boosting U.S. sales by approximately 2% and worldwide sales by 1.5%. Costco currently operates 891 warehouses globally and e-commerce sites in eight countries.

Positive

• Net sales increased by 9.0% to $24.62 billion
• Total company comparable sales grew by 6.7%
• E-commerce sales surged by 22.9%
• Comparable sales excluding gas and forex impacts increased by 8.9%
• Unexpected events (Hurricane Helene and port strikes) boosted sales

Negative

• None.

ISSAQUAH, Wash., Oct. 09, 2024 (GLOBE NEWSWIRE) -- Costco Wholesale Corporation (“Costco” or the “Company”) (Nasdaq: COST) today reported net sales of $24.62 billion for the retail month of September, the five weeks ended October 6, 2024, an increase of 9.0 percent from $22.59 billion last year.

Comparable sales were as follows:

		5 Weeks
	U.S.	6.5%
	Canada	5.7%
	Other International	8.5%
	Total Company	6.7%
	E-commerce	22.9%

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

		5 Weeks
	U.S.	9.3%
	Canada	6.3%
	Other International	9.6%
	Total Company	8.9%
	E-commerce	22.9%

This year's total and comparable sales for the retail month of September benefitted by approximately two percent in the U.S. and one and one-half percent worldwide as a result of the increased sales in the final week of the month due to abnormal consumer activity associated with Hurricane Helene and port strikes.

Additional discussion of these results is available in a pre-recorded message. It can be accessed by visiting investor.costco.com (click on “Events & Presentations”). This message will be available through 4:00 p.m. (PT) on Wednesday, October 16, 2024.

Costco currently operates 891 warehouses, including 614 in the United States and Puerto Rico, 108 in Canada, 40 in Mexico, 35 in Japan, 29 in the United Kingdom, 19 in Korea, 15 in Australia, 14 in Taiwan, seven in China, five 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 and wages), workforce interruptions, energy and certain commodities, geopolitical conditions (including tariffs), the ability to maintain effective internal control over financial reporting, regulatory and other impacts related to environmental and social matters, 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 U.S. GAAP.

CONTACTS:	Costco Wholesale Corporation David Sherwood, 425/313-8239 Josh Dahmen, 425/313-8254 Andrew Yoon, 425/313-6305

COST-Sales

FAQ

What was Costco's (COST) net sales for September 2024?

Costco's net sales for September 2024 were $24.62 billion, representing a 9.0% increase from $22.59 billion in the previous year.

How did Costco's (COST) e-commerce sales perform in September 2024?

Costco's e-commerce sales showed strong growth, with a 22.9% increase in comparable sales for September 2024.

What factors contributed to Costco's (COST) sales boost in September 2024?

Costco's sales in September 2024 benefited from increased consumer activity due to Hurricane Helene and port strikes, boosting U.S. sales by approximately 2% and worldwide sales by 1.5%.

How many warehouses does Costco (COST) operate globally as of September 2024?

As of September 2024, Costco operates 891 warehouses globally, including 614 in the United States and Puerto Rico, and locations in various other countries.