Costco Wholesale Corporation Reports November Sales Results
Rhea-AI Summary
Costco Wholesale (NASDAQ: COST) reported net sales of $21.87 billion for November 2024, marking a 5.6% increase from $20.71 billion last year. The company's first-quarter net sales reached $60.99 billion, up 7.5% year-over-year.
Total company comparable sales grew 3.1% over 4 weeks, with U.S. sales up 3.4%, Canada up 3.7%, and Other International up 1.3%. E-commerce sales declined 3.1%, impacted by an estimated 15 percentage point decrease due to the later timing of Thanksgiving/Black Friday/Cyber Monday events.
Excluding gasoline prices and foreign exchange impacts, comparable sales showed stronger growth: U.S. (4.3%), Canada (5.7%), and Other International (7.3%). Costco currently operates 897 warehouses globally, with e-commerce presence in eight countries.
Positive
- Net sales increased 5.6% to $21.87 billion in November 2024
- First quarter net sales grew 7.5% to $60.99 billion
- Comparable sales excluding gas and forex showed strong growth across all regions (4.9% total)
- Global expansion continues with 897 warehouses across multiple countries
Negative
- E-commerce sales declined 3.1% in November
- Total comparable sales growth of 3.1% was lower than previous periods
- Total and comparable sales negatively impacted by approximately 1.5% due to e-commerce shift
News Market Reaction
On the day this news was published, COST declined 0.87%, reflecting a mild negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
ISSAQUAH, Wash., Dec. 04, 2024 (GLOBE NEWSWIRE) -- Costco Wholesale Corporation (“Costco” or the “Company”) (Nasdaq: COST) today reported net sales of
For the twelve-week first quarter ended November 24, 2024, the Company reported net sales of
Net sales for the first thirteen weeks were
Comparable sales were as follows:
| 4 Weeks | 12 Weeks | 13 Weeks | |||
| Retail | Q1 FY’25 | YTD | |||
| U.S. | |||||
| Canada | |||||
| Other International | |||||
| Total Company | |||||
| E-commerce | - | ||||
Comparable sales excluding the impacts from changes in gasoline prices and foreign exchange were as follows:
| 4 Weeks | 12 Weeks | 13 Weeks | |||
| Retail | Q1 FY’25 | YTD | |||
| U.S. | |||||
| Canada | |||||
| Other International | |||||
| Total Company | |||||
| E-commerce | - | ||||
E-commerce sales in November were negatively impacted by an estimated 15 percentage points, due to Thanksgiving / Black Friday / Cyber Monday occurring a week later this year versus last year. Total and comparable sales were negatively impacted by approximately one and one-half percent as a result of the shift in E-commerce sales.
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, December 11, 2024.
Costco currently operates 897 warehouses, including 617 in the United States and Puerto Rico, 109 in Canada, 41 in Mexico, 36 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) total net sales for November 2024?
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