Costco Wholesale Corporation Reports June Sales Results

Rhea-AI Summary

Costco Wholesale Corporation reported net sales of $22.86 billion for the retail month of June, an increase of 0.4% compared to last year. For the forty-four weeks ended July 2, the company reported net sales of $196.93 billion, a 4.6% increase from the previous year. Comparable sales showed mixed results across regions, with the U.S. and Canada experiencing declines while other international markets saw growth. E-commerce sales also declined. Costco currently operates 855 warehouses worldwide.

Positive

• Costco reported a 0.4% increase in net sales for June, reaching $22.86 billion.
• For the forty-four weeks ended July 2, net sales increased by 4.6% to $196.93 billion.
• Comparable sales in the U.S. and Canada declined, while other international markets saw growth.
• E-commerce sales declined by 0.7% for the five-week period and by 6.9% for the forty-four weeks.
• Costco currently operates 855 warehouses worldwide.

Negative

• None.

ISSAQUAH, Wash., July 06, 2023 (GLOBE NEWSWIRE) -- Costco Wholesale Corporation (“Costco” or the “Company”) (Nasdaq: COST) today reported net sales of $22.86 billion for the retail month of June, the five weeks ended July 2, 2023, an increase of 0.4 percent from $22.78 billion last year.

For the forty-four weeks ended July 2, 2023, the Company reported net sales of $196.93 billion, an increase of 4.6 percent from $188.34 billion during the similar period last year.

Comparable sales were as follows:

	5 Weeks		44 Weeks
U.S.	-2.5%		3.5%
Canada	-0.6%		1.3%
Other International	4.5%		2.1%
Total Company	-1.4%		3.0%
E-commerce	-0.7%		-6.9%

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

	5 Weeks		44 Weeks
U.S.	2.0%		4.3%
Canada	6.5%		8.2%
Other International	5.1%		8.3%
Total Company	3.0%		5.3%
E-commerce	-0.4%		-5.8%

Additional discussion of these results is available in a pre-recorded telephone message. It can be accessed by dialing 1-833-927-0478 or by visiting investor.costco.com (click on “Events & Presentations”). This message will be available through 5:00 p.m. (PT) on Thursday, July 13, 2023.

Costco currently operates 855 warehouses, including 587 in the United States and Puerto Rico, 107 in Canada, 40 in Mexico, 32 in Japan, 29 in the United Kingdom, 18 in Korea, 15 in Australia, 14 in Taiwan, four each in China and 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 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 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.

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 June?

Costco reported net sales of $22.86 billion for the retail month of June.

How did net sales for the forty-four weeks ended July 2 compare to the previous year?

Net sales for the forty-four weeks ended July 2 increased by 4.6% to $196.93 billion.

What were the comparable sales results for the U.S. and Canada?

Comparable sales in the U.S. declined by 2.5% for the five-week period and in Canada by 0.6%.

How did other international markets perform in terms of comparable sales?

Other international markets saw growth in comparable sales, with a 4.5% increase for the five-week period.

What was the change in e-commerce sales?

E-commerce sales declined by 0.7% for the five-week period and by 6.9% for the forty-four weeks.

How many warehouses does Costco currently operate?

Costco currently operates 855 warehouses worldwide.