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Costco Wholesale declares Aug sales reports & revision of fiscal Q4
30 Aug '06
3 min read
Costco Wholesale Corporation reported net sales of $4.55 billion for the four weeks ended August 27, 2006, an increase of 11 percent from $4.08 billion in the same four-week period last year.
For the first 52 weeks of its (53-week) 2006 fiscal year ending September 3, 2006, the Company reported net sales of $57.78 billion, an increase of 11 percent from $51.86 billion during the similar 52-week period of the prior fiscal year.
The Company also announced the revision of its outlook for fiscal 2006 fourth quarter (17 weeks this year vs. 16 weeks in fiscal 2005) and fiscal year (53 weeks this fiscal year vs. 52 weeks last year) ending September 3, 2006.
On May 31st, during its third quarter earnings conference call, the Company stated that the then First Call consensus earnings per share estimates for the fourth quarter and fiscal year of $.77 and $2.33, respectively, were "at the high end of Company expectations." Currently, earnings per share for the fourth quarter are expected to be $.68-$.71; and for the fiscal year $2.23-$2.26 per share.
These estimates include a one-time income tax charge of approximately $.03 per share, further described below. Actual results for the fourth quarter and fiscal year ending September 3, 2006 will be reported on October 12, 2006, and are subject to further refinement in the closing process.
During fiscal year 2005, the Company reported earnings per share of $.73 in the fourth quarter and $2.18for the fiscal year. The fiscal year 2005 results included several one-time items that in the aggregate positively impacted reported earnings by approximately $.07 per share in last year's fiscal fourth quarter and by approximately $.14 per share for all of fiscal year 2005.
For the first 52 weeks of its (53-week) 2006 fiscal year ending September 3, 2006, the Company reported net sales of $57.78 billion, an increase of 11 percent from $51.86 billion during the similar 52-week period of the prior fiscal year.
The Company also announced the revision of its outlook for fiscal 2006 fourth quarter (17 weeks this year vs. 16 weeks in fiscal 2005) and fiscal year (53 weeks this fiscal year vs. 52 weeks last year) ending September 3, 2006.
On May 31st, during its third quarter earnings conference call, the Company stated that the then First Call consensus earnings per share estimates for the fourth quarter and fiscal year of $.77 and $2.33, respectively, were "at the high end of Company expectations." Currently, earnings per share for the fourth quarter are expected to be $.68-$.71; and for the fiscal year $2.23-$2.26 per share.
These estimates include a one-time income tax charge of approximately $.03 per share, further described below. Actual results for the fourth quarter and fiscal year ending September 3, 2006 will be reported on October 12, 2006, and are subject to further refinement in the closing process.
During fiscal year 2005, the Company reported earnings per share of $.73 in the fourth quarter and $2.18for the fiscal year. The fiscal year 2005 results included several one-time items that in the aggregate positively impacted reported earnings by approximately $.07 per share in last year's fiscal fourth quarter and by approximately $.14 per share for all of fiscal year 2005.
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