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Online retailer Costco's Aug sales jump 12%
01 Sep '05
2 min read
Washington based Costco Wholesale Corporation reported net sales of $4.09 billion for the four weeks ended August 28, 2005, an increase of 12 percent from $3.64 billion in the same four-week period of the prior fiscal year.
For the 16-week fiscal fourth quarter ended August 28, 2005, the Company reported net sales of $16.37 billion, an increase of 10 percent from $14.83 billion during last year's fiscal fourth quarter.
For the 52-week fiscal year ended August 28, 2005, the Company reported net sales of $51.87 billion, an increase of 10 percent from $47.15 billion during 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 4-week and 16-week reporting periods are on a comparable after-coupon basis; however, had sales for the 52-week fiscal year 2004 been reported under EITF 03-10, the total Company comparable sales increase would have been 8 percent.
US leading wholesaler firm Costco currently operates 460 warehouses, including 338 in the United States and Puerto Rico, 65 in Canada, 16 in the United Kingdom, five in Korea, four in Taiwan, five in Japan and 27 in Mexico. It plans to open an additional 12 to 13 new warehouses (including the relocation of one warehouse to a larger and better-located facility) prior to the end of calendar year 2005.
For the 16-week fiscal fourth quarter ended August 28, 2005, the Company reported net sales of $16.37 billion, an increase of 10 percent from $14.83 billion during last year's fiscal fourth quarter.
For the 52-week fiscal year ended August 28, 2005, the Company reported net sales of $51.87 billion, an increase of 10 percent from $47.15 billion during 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 4-week and 16-week reporting periods are on a comparable after-coupon basis; however, had sales for the 52-week fiscal year 2004 been reported under EITF 03-10, the total Company comparable sales increase would have been 8 percent.
US leading wholesaler firm Costco currently operates 460 warehouses, including 338 in the United States and Puerto Rico, 65 in Canada, 16 in the United Kingdom, five in Korea, four in Taiwan, five in Japan and 27 in Mexico. It plans to open an additional 12 to 13 new warehouses (including the relocation of one warehouse to a larger and better-located facility) prior to the end of calendar year 2005.
Costco Wholesale Corporation
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