Costco Wholesale Corporation Reports May Sales Results

ISSAQUAH, Wash., June 01, 2023 (GLOBE NEWSWIRE) -- Costco Wholesale Corporation (“Costco” or the “Company”) (Nasdaq: COST) today reported net sales of $18.45 billion for the retail month of May, the four weeks ended May 28, 2023, an increase of 1.2 percent from $18.23 billion last year.

For the thirty-nine weeks ended May 28, 2023, the Company reported net sales of $174.07 billion, an increase of 5.1 percent from $165.56 billion last year.

Comparable sales were as follows:

	4 Weeks		39 Weeks
U.S.	-1.5%		4.4%
Canada	0.5%		1.6%
Other International	5.5%		1.8%
Total Company	-0.3%		3.7%
E-commerce	-7.6%		-7.6%

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

	4 Weeks		39 Weeks
U.S.	1.7%		4.6%
Canada	7.9%		8.5%
Other International	6.4%		8.7%
Total Company	3.3%		5.7%
E-commerce	-7.0%		-6.5%

Additional discussion of these results is available in a pre-recorded message. It can be accessed by dialing 1-844-706-0400 or by visiting investor.costco.com (click on “Events & Presentations”). This message will be available through 5:00 p.m. (PT) on Thursday, June 8, 2023.

Costco currently operates 853 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, 14 in Taiwan, 14 in Australia, four in Spain, three in China, 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