Costco Wholesale reports March sales results

April 10, 2008 - United States Of America

Costco Wholesale Corporation reported net sales of $6.57 billion for the month of March, the five weeks ended April 6, 2008, an increase of 11 percent from $5.93 billion in the same five-week period last year.

For the first thirty-one weeks of its reporting period ended April 6, 2008, the Company reported net sales of $41.34 billion, an increase of 12 percent from $36.96 billion during the similar thirty-one-week period last year.

Comparable sales for the five-week and thirty-one-week periods ended April 6, 2008, were as follows:

• 5 Weeks:
US: 5% 5%
International: 17% 17%
Total Company: 7% 7%

• 31 Weeks:
US: 5%
International: 17%
Total Company: 7%

The 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 20% for the five-week month of March, as compared to the year-earlier March. Excluding gasoline price inflation, U.S. comparable sales would have been up 3%.

In addition, foreign exchange rates, primarily in Canada, positively impacted international comparable sales results. On a local currency basis, international comparable sales increased 6% in March.