Costco Wholesale Corporation Reports January Sales Results

ISSAQUAH, Wash., Feb. 07, 2024 (GLOBE NEWSWIRE) -- Costco Wholesale Corporation (“Costco” or the “Company”) (Nasdaq: COST) today reported net sales of $22.08 billion for the retail month of January, the five weeks ended February 4, 2024 an increase of 4.5 percent from $21.13 billion last year.

For the 22 weeks ended February 4, 2024, the Company reported net sales of $104.94 billion, an increase of 6.0 percent from $99.00 billion for the 22 weeks of fiscal year 2023 ended January 29, 2023.

Comparable sales for the periods ended February 4, 2024 were as follows:

	5 Weeks			22 Weeks
U.S.	1.6%			3.2%
Canada	6.2%			7.9%
Other International	5.1%			9.6%
Total Company	2.7%			4.7%
E-commerce	21.0%			12.1%

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

	5 Weeks			22 Weeks
U.S.	2.2%			3.7%
Canada	6.6%			8.7%
Other International	6.3%			7.2%
Total Company	3.4%			4.8%
E-commerce	20.9%			11.8%

This year’s retail month of January had one less shopping day due to the timing of New Year’s Day. This negatively impacted total and comparable sales by approximately three to three and one-half percent.

Additional discussion of these results is available in a recorded message. It can be accessed by dialing 1-888-848-7292 or by visiting investor.costco.com (click on “Events & Presentations”). This message will be available through 4:00 p.m. (PT) on Wednesday, February 14, 2024.
        
Costco currently operates 874 warehouses, including 602 in the United States and Puerto Rico, 108 in Canada, 40 in Mexico, 33 in Japan, 29 in the United Kingdom, 18 in Korea, 15 in Australia, 14 in Taiwan, six 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

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