Costco Wholesale Corporation Reports November Sales Results
December 04 2024 - 4:15PM
Costco Wholesale Corporation (“Costco” or the “Company”) (Nasdaq:
COST) today reported net sales of $21.87 billion for the retail
month of November, the four weeks ended December 1, 2024, an
increase of 5.6 percent from $20.71 billion last year.
For the twelve-week first quarter ended November
24, 2024, the Company reported net sales of $60.99 billion, an
increase of 7.5 percent from $56.72 billion last year.
Net sales for the first thirteen weeks were
$66.52 billion, an increase of 7.2 percent from $62.04 billion last
year.
Comparable sales were as follows:
|
4 Weeks |
|
12 Weeks |
|
13 Weeks |
|
Retail |
|
Q1
FY’25 |
|
YTD |
U.S. |
3.4% |
|
5.2% |
|
4.7% |
Canada |
3.7% |
|
5.8% |
|
5.7% |
Other
International |
1.3% |
|
4.7% |
|
5.7% |
|
|
|
|
|
|
Total
Company |
3.1% |
|
5.2% |
|
5.0% |
|
|
|
|
|
|
E-commerce |
-3.1% |
|
13.0% |
|
10.1% |
|
|
|
|
|
|
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. |
4.3% |
|
7.2% |
|
6.6% |
Canada |
5.7% |
|
6.7% |
|
6.8% |
Other
International |
7.3% |
|
7.1% |
|
8.5% |
|
|
|
|
|
|
Total
Company |
4.9% |
|
7.1% |
|
6.9% |
|
|
|
|
|
|
E-commerce |
-2.5% |
|
13.2% |
|
10.5% |
|
|
|
|
|
|
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 |
|
|
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