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Costco International comparable sales up
13 Dec '07
1 min read
Costco Wholesale Corporation announced its operating results for the first quarter (twelve weeks) of fiscal 2008, ended November 25, 2007.
Net sales for the first quarter of fiscal 2008 increased 12% to $15.47 billion from $13.85 billion during the first quarter of fiscal 2007. On a comparable warehouse basis, that is warehouses open at least one year, net sales increased 8%.
Comparable sales for the first quarter of fiscal 2008 were:
12 Weeks:
• US: 5%
• International: 17%
• Total Company: 8%
The U.S. comparable sales figure includes, among other things, the effect of recent gasoline price inflation, with the average sales price per gallon of gasoline up 21% year-over-year for the first quarter of fiscal 2008. Excluding gasoline price inflation, U.S. comparable sales in the first quarter would have been 4%.
In addition, significantly stronger foreign exchange rates, particularly in Canada and the U.K., positively impacted the first quarter's international comparable sales results. On a local currency basis, international comparable sales increased 5% in the first quarter.
Net income for the first quarter of fiscal 2008 increased 11% to $262 million, or $.59 per diluted share, from $237 million, or $.51 per diluted share, during the first quarter of fiscal 2007.
Net sales for the first quarter of fiscal 2008 increased 12% to $15.47 billion from $13.85 billion during the first quarter of fiscal 2007. On a comparable warehouse basis, that is warehouses open at least one year, net sales increased 8%.
Comparable sales for the first quarter of fiscal 2008 were:
12 Weeks:
• US: 5%
• International: 17%
• Total Company: 8%
The U.S. comparable sales figure includes, among other things, the effect of recent gasoline price inflation, with the average sales price per gallon of gasoline up 21% year-over-year for the first quarter of fiscal 2008. Excluding gasoline price inflation, U.S. comparable sales in the first quarter would have been 4%.
In addition, significantly stronger foreign exchange rates, particularly in Canada and the U.K., positively impacted the first quarter's international comparable sales results. On a local currency basis, international comparable sales increased 5% in the first quarter.
Net income for the first quarter of fiscal 2008 increased 11% to $262 million, or $.59 per diluted share, from $237 million, or $.51 per diluted share, during the first quarter of fiscal 2007.
Costco Wholesale Corporation
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