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Costco Wholesale Corporation (COST)

NasdaqGS - NasdaqGS Real Time Price. Currency in USD
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317.32-1.72 (-0.54%)
At close: 4:00PM EST
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Previous Close319.04
Open315.33
Bid317.62 x 1100
Ask318.47 x 1100
Day's Range307.01 - 318.43
52 Week Range276.34 - 393.15
Volume8,013,343
Avg. Volume2,732,108
Market Cap140.463B
Beta (5Y Monthly)0.64
PE Ratio (TTM)32.58
EPS (TTM)N/A
Earnings DateN/A
Forward Dividend & Yield2.80 (0.88%)
Ex-Dividend DateFeb. 04, 2021
1y Target EstN/A
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  • GlobeNewswire

    Costco Wholesale Corporation Reports Second Quarter and Year-to-Date Operating Results for Fiscal 2021 and February Sales Results

    ISSAQUAH, Wash., March 04, 2021 (GLOBE NEWSWIRE) -- Costco Wholesale Corporation (“Costco” or the “Company”) (Nasdaq: COST) today announced its operating results for the second quarter (twelve weeks) and the first 24 weeks of fiscal 2021, ended February 14, 2021. Net sales for the quarter increased 14.7 percent, to $43.89 billion, from $38.26 billion last year. Net sales for the first 24 weeks increased 15.8 percent, to $86.23 billion, from $74.49 billion last year. Comparable sales for the second quarter fiscal 2021 were as follows: 12 Weeks 12 Weeks 24 Weeks 24 Weeks Adjusted* Adjusted* U.S.11.4% 12.6% 13.0% 14.7% Canada13.4% 10.6% 14.8% 13.6% Other International21.5% 17.7% 20.2% 17.7% Total Company13.0% 12.9% 14.2% 15.0% E-commerce75.8% 74.8% 80.4% 79.7% *Excluding the impacts from changes in gasoline prices and foreign exchange. Net income for the quarter was $951 million, or $2.14 per diluted share, which includes $246 million pretax, or $0.41 per diluted share, in costs incurred primarily from COVID-19 premium wages. Last year’s second quarter net income was $931 million, or $2.10 per diluted share. Net income for the first 24 weeks was $2.12 billion, or $4.76 per diluted share, compared to $1.77 billion, or $4.00 per diluted share, last year. For the four-week reporting month of February, ended February 28, 2021, the Company reported net sales of $14.05 billion, an increase of 15.2 percent from $12.20 billion last year. For the twenty-six week period ended February 28, 2021, net sales were $93.16 billion, an increase of 15.4 percent from $80.76 billion last year. Comparable sales for the February and year-to-date periods ended February 28, 2021, were as follows: 4 Weeks 4 Weeks 26 Weeks 26 Weeks Adjusted* Adjusted* U.S.10.3% 10.3% 12.4% 14.0% Canada21.6% 15.7% 15.0% 13.5% Other International25.7% 20.6% 20.0% 17.2% Total Company13.8% 12.3% 13.8% 14.3% E-commerce91.1% 89.4% 81.0% 80.3% *Excluding the impacts from changes in gasoline prices and foreign exchange. Costco currently operates 804 warehouses, including 558 in the United States and Puerto Rico, 103 in Canada, 39 in Mexico, 29 in the United Kingdom, 27 in Japan, 16 in Korea, 14 in Taiwan, 12 in Australia, three in Spain, and one each in Iceland, France, and China. Costco also operates e-commerce sites in the U.S., Canada, the United Kingdom, Mexico, Korea, Taiwan, Japan, and Australia. A conference call to discuss these results is scheduled for 2:00 p.m. (PT) today, March 4, 2021, and is available via a webcast on www.costco.com (click on Investor Relations and “Play Webcast”). Certain statements contained in this document constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. For these purposes, forward-looking statements are statements that address activities, events, conditions or developments that the Company expects or anticipates may occur in the future. In some cases forward-looking statements can be identified because they contain words such as “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “intend,” “likely,” “may,” “might,” “plan,” “potential,” “predict,” “project,” “seek,” “should,” “target,” “will,” “would,” or similar expressions and the negatives of those terms. Such forward-looking statements involve risks and uncertainties that may cause actual events, results or performance to differ materially from those indicated by such statements. These risks and uncertainties include, but are not limited to, domestic and international economic conditions, including exchange rates, the effects of competition and regulation, uncertainties in the financial markets, consumer and small business spending patterns and debt levels, breaches of security or privacy of member or business information, conditions affecting the acquisition, development, ownership or use of real estate, capital spending, actions of vendors, rising costs associated with employees (generally including health-care costs), energy and certain commodities, geopolitical conditions (including tariffs), the ability to maintain effective internal control over financial reporting, COVID-19 related factors and challenges, including (among others) the duration of the pandemic, the unknown long-term economic impact, reduced shopping due to illness, travel restrictions or financial hardship, shifts in demand away from discretionary or higher-priced products, reduced workforces due to illness, quarantine, or government mandates, temporary store closures due to reduced workforces or government mandates, or supply-chain disruptions, capacity constraints of third-party logistics suppliers, and other risks identified from time to time in the Company’s public statements and reports filed with the Securities and Exchange Commission. Forward-looking statements speak only as of the date they are made, and the Company does not undertake to update these statements, except as required by law. CONTACTS:Costco Wholesale Corporation Richard Galanti, 425/313-8203 Bob Nelson, 425/313-8255 David Sherwood, 425/313-8239 Josh Dahmen, 425/313-8254 COSTCO WHOLESALE CORPORATIONCONSOLIDATED STATEMENTS OF INCOME(dollars in millions, except per share data)(unaudited) 12 Weeks Ended 24 Weeks Ended February 14, 2021 February 16, 2020 February 14, 2021 February 16, 2020REVENUE Net sales $43,888 $38,256 $86,235 $74,492 Membership fees 881 816 1,742 1,620 Total revenue 44,769 39,072 87,977 76,112 OPERATING EXPENSES Merchandise costs 39,078 34,056 76,536 66,289 Selling, general and administrative 4,342 3,743 8,640 7,475 Preopening expenses 9 7 31 21 Operating income 1,340 1,266 2,770 2,327 OTHER INCOME (EXPENSE) Interest expense (40) (34) (79) (72) Interest income and other, net 19 45 48 80 INCOME BEFORE INCOME TAXES 1,319 1,277 2,739 2,335 Provision for income taxes 348 330 587 532 Net income including noncontrolling interests 971 947 2,152 1,803 Net income attributable to noncontrolling interests (20) (16) (35) (28) NET INCOME ATTRIBUTABLE TO COSTCO $951 $931 $2,117 $1,775 NET INCOME PER COMMON SHARE ATTRIBUTABLE TO COSTCO: Basic $2.15 $2.10 $4.78 $4.02 Diluted $2.14 $2.10 $4.76 $4.00 Shares used in calculation (000s): Basic 443,134 442,021 443,043 441,920 Diluted 444,494 443,727 444,440 443,704 COSTCO WHOLESALE CORPORATIONCONSOLIDATED BALANCE SHEETS(amounts in millions, except par value and share data)(unaudited) Subject to Reclassification February 14, 2021 August 30, 2020ASSETS CURRENT ASSETS Cash and cash equivalents$8,637 $12,277 Short-term investments617 1,028 Receivables, net1,934 1,550 Merchandise inventories13,865 12,242 Other current assets1,255 1,023 Total current assets26,308 28,120 OTHER ASSETS Property and equipment, net22,531 21,807 Operating lease right-of-use assets2,887 2,788 Other long-term assets3,192 2,841 TOTAL ASSETS$54,918 $55,556 LIABILITIES AND EQUITY CURRENT LIABILITIES Accounts payable$14,383 $14,172 Accrued salaries and benefits4,132 3,605 Accrued member rewards1,541 1,393 Deferred membership fees2,048 1,851 Current portion of long-term debt95 95 Other current liabilities4,365 3,728 Total current liabilities26,564 24,844 OTHER LIABILITIES Long-term debt, excluding current portion7,522 7,514 Long-term operating lease liabilities2,651 2,558 Other long-term liabilities2,052 1,935 TOTAL LIABILITIES38,789 36,851 COMMITMENTS AND CONTINGENCIES EQUITY Preferred stock $0.01 par value; 100,000,000 shares authorized; no shares issued and outstanding— — Common stock $0.01 par value; 900,000,000 shares authorized; 442,654,000 and 441,255,000 shares issued and outstanding4 4 Additional paid-in capital6,843 6,698 Accumulated other comprehensive loss(961) (1,297) Retained earnings9,766 12,879 Total Costco stockholders’ equity15,652 18,284 Noncontrolling interests477 421 TOTAL EQUITY16,129 18,705 TOTAL LIABILITIES AND EQUITY $54,918 $55,556

  • GlobeNewswire

    Costco Wholesale Corporation Reports January Sales Results

    ISSAQUAH, Wash., Feb. 03, 2021 (GLOBE NEWSWIRE) -- Costco Wholesale Corporation (“Costco” or the “Company”) (Nasdaq: COST) today reported net sales of $13.64 billion for the retail month of January, the four weeks ended January 31, 2021, an increase of 17.9 percent from $11.57 billion last year. For the twenty-two weeks ended January 31, 2021, the Company reported net sales of $79.11 billion, an increase of 15.4 percent from $68.56 billion during the similar period last year. Comparable sales were as follows: 4 Weeks 22 WeeksU.S.15.4% 12.8%Canada15.2% 13.9%Other International19.0% 19.0% Total Company15.9% 13.8% E-commerce106.7% 79.5% Comparable sales excluding the impacts from changes in gasoline prices and foreign exchange were as follows: 4 Weeks 22 WeeksU.S.16.4% 14.7%Canada12.2% 13.1%Other International15.3% 16.7% Total Company15.7% 14.7% E-commerce105.4% 78.9% Additional discussion of these results is available in a pre-recorded telephone message. It can be accessed by dialing 1-855-859-2056 (conference ID 7270679). This message will be available through 5:00 p.m. (PT) on Wednesday, February 10, 2021. Costco currently operates 803 warehouses, including 558 in the United States and Puerto Rico, 102 in Canada, 39 in Mexico, 29 in the United Kingdom, 27 in Japan, 16 in Korea, 14 in Taiwan, 12 in Australia, three in Spain, and one each in Iceland, France, and China. Costco also operates e-commerce sites in the U.S., Canada, the United Kingdom, Mexico, Korea, Taiwan, Japan, and Australia. Certain statements contained in this document and the pre-recorded telephone message constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. For these purposes, forward-looking statements are statements that address activities, events, conditions or developments that the Company expects or anticipates may occur in the future. In some cases forward-looking statements can be identified because they contain words such as “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “intend,” “likely,” “may,” “might,” “plan,” “potential,” “predict,” “project,” “seek,” “should,” “target,” “will,” “would,” or similar expressions and the negatives of those terms. Such forward-looking statements involve risks and uncertainties that may cause actual events, results or performance to differ materially from those indicated by such statements. These risks and uncertainties include, but are not limited to, domestic and international economic conditions, including exchange rates, the effects of competition and regulation, uncertainties in the financial markets, consumer and small business spending patterns and debt levels, breaches of security or privacy of member or business information, conditions affecting the acquisition, development, ownership or use of real estate, capital spending, actions of vendors, rising costs associated with employees (generally including health-care costs), energy and certain commodities, geopolitical conditions (including tariffs), the ability to maintain effective internal control over financial reporting, COVID-19 related factors and challenges, including (among others) the duration of the pandemic, the unknown long-term economic impact, reduced shopping due to illness, travel restrictions or financial hardship, shifts in demand away from discretionary or higher-priced products, reduced workforces due to illness, quarantine, or government mandates, temporary store closures due to reduced workforces or government mandates, or supply-chain disruptions, capacity constraints of third-party logistics suppliers, and other risks identified from time to time in the Company’s public statements and reports filed with the Securities and Exchange Commission. Forward-looking statements speak only as of the date they are made, and the Company does not undertake to update these statements, except as required by law. CONTACTS: Costco Wholesale Corporation Richard Galanti, 425/313-8203 Bob Nelson, 425/313-8255 David Sherwood, 425/313-8239 Josh Dahmen, 425/313-8254

  • GlobeNewswire

    Costco Wholesale Corporation Announces Quarterly Cash Dividend

    ISSAQUAH, Wash., Jan. 21, 2021 (GLOBE NEWSWIRE) -- Costco Wholesale Corporation (“Costco” or the “Company”) (Nasdaq: COST) today announced that its Board of Directors has declared a quarterly cash dividend on Costco common stock of 70 cents per share. The quarterly dividend is payable February 19, 2021, to shareholders of record at the close of business on February 5, 2021. Costco currently operates 803 warehouses, including 558 in the United States and Puerto Rico, 102 in Canada, 39 in Mexico, 29 in the United Kingdom, 27 in Japan, 16 in Korea, 14 in Taiwan, 12 in Australia, three in Spain, and one each in Iceland, France, and China. Costco also operates e-commerce sites in the U.S., Canada, the United Kingdom, Mexico, Korea, Taiwan, Japan, and Australia. Certain statements contained in this document constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. For these purposes, forward-looking statements are statements that address activities, events, conditions or developments that the Company expects or anticipates may occur in the future. In some cases forward-looking statements can be identified because they contain words such as “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “intend,” “likely,” “may,” “might,” “plan,” “potential,” “predict,” “project,” “seek,” “should,” “target,” “will,” “would,” or similar expressions and the negatives of those terms. Such forward-looking statements involve risks and uncertainties that may cause actual events, results or performance to differ materially from those indicated by such statements. These risks and uncertainties include, but are not limited to, domestic and international economic conditions, including exchange rates, the effects of competition and regulation, uncertainties in the financial markets, consumer and small business spending patterns and debt levels, breaches of security or privacy of member or business information, conditions affecting the acquisition, development, ownership or use of real estate, capital spending, actions of vendors, rising costs associated with employees (generally including health-care costs), energy and certain commodities, geopolitical conditions (including tariffs), the ability to maintain effective internal control over financial reporting, COVID-19 related factors and challenges, including (among others) the duration of the pandemic, the unknown long-term economic impact, reduced shopping due to illness, travel restrictions or financial hardship, shifts in demand away from discretionary or higher-priced products, reduced workforces due to illness, quarantine, or government mandates, temporary store closures due to reduced workforces or government mandates, or supply-chain disruptions, capacity constraints of third-party logistics suppliers, and other risks identified from time to time in the Company’s public statements and reports filed with the Securities and Exchange Commission. Forward-looking statements speak only as of the date they are made, and the Company does not undertake to update these statements, except as required by law. CONTACTS:Costco Wholesale Corporation Richard Galanti, 425/313-8203 Bob Nelson, 425/313-8255 David Sherwood, 425/313-8239 Josh Dahmen, 425/313-8254