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Costco's international comparable sales improve in May

05
Jun '08
Costco Wholesale Corporation (Costco) reported net sales of $5.77 billion for the month of May, the four weeks ended June 1, 2008, an increase of 12 percent from $5.14 billion in the same four-week period last year.

For the first thirty-nine weeks of its reporting period ended June 1, 2008, the Company reported net sales of $52.69 billion, an increase of 13 percent from $46.81 billion during the similar thirty-nine-week period last year.

Comparable sales for the four-week and thirty-nine-week periods ended June 1, 2008, were as follows:

4 Weeks:
US: 7% 6%
International: 15%
Total Company: 9%

39 Weeks:
US: 6%
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 19% for the four-week month of May, as compared to the year-earlier May.

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 8% in May.

Costco Wholesale Corporation


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