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Online retail store Costco's June sales up 12%
25 Jul '05
2 min read
Nation's online retail store Costco Wholesale Corporation reported net sales of $5.22 billion for the five weeks ended July 3, 2005, an increase of 12 percent from $4.65 billion in the same five-week period of the prior fiscal year.
This year's five-week period included 34 days of sales compared to 33 days for the comparable five-week period last year, reflecting the timing of the Fourth of July Holiday. This calendar shift positively impacted reported net sales and comparable sales by approximately 2-3 percent.
For the first 44 weeks of its 2005 fiscal year ended July 3, 2005, the Company reported net sales of $43.76 billion, an increase of 10 percent from $39.80 billion during the similar 44-week period of the prior fiscal year.
Reported net sales were reduced by the implementation of Emerging Issues Task Force Issue No. 03-10 ("EITF 03-10"), "Application of Issue No. 02-16 by Resellers to Sales Incentives Offered to Consumers by Manufacturers," which was effective at the beginning of the Company's fiscal 2004 third quarter, February 16, 2004.
Sales for the 5-week reporting periods are on a comparable after-coupon basis; however, had sales for the 44-week year-to-date period last year been reported under EITF 03-10, the total Company reported net sales increase and the total Company comparable sales increase would have been 10 percent and 8 percent, respectively.
Washington based Costco's warehouses present one of the largest and most exclusive product category selections to be found under a single roof. Categories include groceries, candy, appliances, television and media, automotive supplies, tires, toys, hardware, sporting goods, jewelry, watches, cameras, books, housewares, apparel, health and beauty aids, tobacco, furniture, office supplies and office equipment.
This year's five-week period included 34 days of sales compared to 33 days for the comparable five-week period last year, reflecting the timing of the Fourth of July Holiday. This calendar shift positively impacted reported net sales and comparable sales by approximately 2-3 percent.
For the first 44 weeks of its 2005 fiscal year ended July 3, 2005, the Company reported net sales of $43.76 billion, an increase of 10 percent from $39.80 billion during the similar 44-week period of the prior fiscal year.
Reported net sales were reduced by the implementation of Emerging Issues Task Force Issue No. 03-10 ("EITF 03-10"), "Application of Issue No. 02-16 by Resellers to Sales Incentives Offered to Consumers by Manufacturers," which was effective at the beginning of the Company's fiscal 2004 third quarter, February 16, 2004.
Sales for the 5-week reporting periods are on a comparable after-coupon basis; however, had sales for the 44-week year-to-date period last year been reported under EITF 03-10, the total Company reported net sales increase and the total Company comparable sales increase would have been 10 percent and 8 percent, respectively.
Washington based Costco's warehouses present one of the largest and most exclusive product category selections to be found under a single roof. Categories include groceries, candy, appliances, television and media, automotive supplies, tires, toys, hardware, sporting goods, jewelry, watches, cameras, books, housewares, apparel, health and beauty aids, tobacco, furniture, office supplies and office equipment.
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