Costco net sales rise for 4-weeks ended May 4

08 May '08

2 min read

Costco Wholesale Corporation (Costco) reported net sales of $5.54 billion for the month of April, the four weeks ended May 4, 2008, an increase of 12 percent from $4.94 billion in the same four-week period last year.

For the first thirty-five weeks of its reporting period ended May 4, 2008, the Company reported net sales of $46.88 billion, an increase of 12 percent from $41.90 billion during the similar thirty-five-week period last year.

Comparable sales for the four-week and thirty-five-week periods ended May 4, 2008, were as follows:

4 Weeks:
US: 7%
International: 14%
Total Company: 8%

35 Weeks:
US: 5%
International: 17%
Total Company: 8%

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 17% for the four-week month of April, as compared to the year-earlier April.

Excluding gasoline price inflation, U.S. comparable sales would have been up 5%. 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 April.

The Company plans to release its third quarter fiscal year 2008 operating results, for the twelve weeks ending May 11, 2008, on Thursday, May 29, 2008. A conference call to discuss these third quarter results is scheduled for 8:00a.m. (PT) on May 29 and will be available via a webcast on Costco website (click on Investor Relations and Webcasts).

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