Costco international comparable sales rise in August

03 Sep '08

2 min read

Costco Wholesale Corporation (Costco) reported net sales of $5.41 billion for the month of August, the four weeks ended August 31, 2008, an increase of 12 percent from $4.84 billion in the same four-week period last year.

Net sales for the fiscal 2008 fourth quarter, the sixteen weeks ended August 31, 2008, were $22.60 billion, an increase of 12 percent from $20.09 billion in the sixteen-week fourth quarter of fiscal 2007 ended September 2, 2007.

Net sales for the 52-week fiscal year 2008 were $70.95 billion, an increase of 12 percent from $63.09 billion in the 52-week fiscal year 2007 ended September 2, 2007.

Comparable sales for the four-week retail-reporting month of August, the 16-week fiscal fourth quarter and the 52-week fiscal year 2008 are as follows:

• 4 Weeks:
US: 9%
International: 6%
Total Company: 9%

• 16 Weeks:
US: 9%
International: 11%
Total Company: 9%

• 52 Weeks:
US: 6%
International: 15%
Total Company: 8%

The four-week U.S. comparable sales figure includes, among other things, the effect of gasoline price inflation, with the average sales price per gallon of gasoline up 40 percent, as compared to the year-earlier August.

Excluding gasoline price inflation, U.S. comparable sales would have been up 6 percent. In addition, foreign exchange rates negatively impacted international comparable sales results. On a local currency basis, international comparable sales increased 8 percent in August.

Costco Wholesale Corporation

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