COSTCO WHOLESALE CORP NEW (COST) SEC Filing 10-K Annual report for the fiscal year ending Sunday, August 28, 2016

View amendments to this 10-K report filed on 10/21/2016
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Exhibit 99.1

 

Press Release    LOGO

 

COSTCO WHOLESALE CORPORATION REPORTS THIRD QUARTER AND YEAR-TO-DATE

OPERATING RESULTS FOR FISCAL YEAR 2016

ISSAQUAH, Wash., May 25, 2016 - Costco Wholesale Corporation (“Costco” or the “Company”) (Nasdaq: COST) today announced its operating results for the third quarter (twelve weeks) and first thirty-six weeks of fiscal 2016, ended May 8, 2016.

Net sales for the quarter increased two percent, to $26.15 billion from $25.52 billion last year. Net sales for the first thirty-six weeks increased two percent, to $80.34 billion from $78.67 billion last year.

Comparable sales for the twelve-week and thirty-six-week periods were as follows:

 

     12 Weeks     36 Weeks  

U.S.

     0     2

Canada

     1     -5

Other International

     -2     -4

Total Company

     0     0
  

 

 

   

 

 

 

Comparable sales for these periods excluding the negative impacts from gasoline price deflation and foreign exchange were as follows:

 

     12 Weeks     36 Weeks  

U.S.

     3     4

Canada

     8     9

Other International

     3     5

Total Company

     3     5
  

 

 

   

 

 

 

Net income for the quarter was $545 million, or $1.24 per diluted share, compared to $516 million, or $1.17 per diluted share, last year. Net income for the thirty-six weeks was $1.57 billion, or $3.56 per diluted share, compared to $1.61 billion, or $3.64 per diluted share, last year. Net income for the thirty-six-week period last year was positively impacted by $43 million ($0.10 per diluted share) in net nonrecurring income tax benefits.

Costco currently operates 705 warehouses, including 493 in the United States and Puerto Rico, 90 in Canada, 36 in Mexico, 27 in the United Kingdom, 25 in Japan, 12 in Korea, 12 in Taiwan, eight in Australia and two in Spain. Costco also operates electronic commerce web sites in the U.S., Canada, the United Kingdom, Mexico, Korea and Taiwan.

A conference call to discuss these fiscal 2016 third quarter operating results is scheduled for 8:00 a.m. (PT) on May 26, 2016, and is available via a webcast on www.costco.com (click on Investor Relations and “Play Webcast”).


The following information was filed by COSTCO WHOLESALE CORP NEW on Thursday, May 26, 2016 as an 8K 2.02 statement, which is a press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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  • Form Type: Annual
  • Number of times amended: 1
  • Accession Number: 0000909832-16-000032
  • Submitted to the SEC: Wednesday, October 12, 2016
  • Accepted by the SEC: Tuesday, October 11, 2016
  • Period Ending: August 2016
Companies
 

COST Morningstar

COSTCO WHOLESALE CORP NEW

$161.86 +0 (+0%)

Day's Range:
N/A

52-Week Range:
$138.57 to $169.59

Volume:
N/A

Volume (Avg):
2,290,680

Earnings per Share:
$5.48

PEG / Short / PE Ratios:
2.65 / 3.23 / 29.54

Market Cap:
$71.10B

Book Value:
27.25

EBITDA:
$5.03B