Costco Wholesale (COST) Q4, FY14 Revs Miss Expectations

Costco Wholesale (Nasdaq: COST) reported net sales of $8.8 billion for the month of August, the four weeks ended August 31, 2014, an increase of ten percent from $8.0 billion during the similar period last year.

For the 16-week fourth quarter, the Company reported net sales of $34.8 billion, an increase of nine percent from $31.8 billion in the fourth quarter of fiscal year 2013, ended September 1, 2013.

*** Consensus estimates called for Q4 revs of $35.2 billion.

For the 52-week fiscal year ended August 31, 2014, the Company reported net sales of $110.2 billion, an increase of seven percent from the $102.9 billion reported in fiscal year 2013, ended September 1, 2013.

*** The Street was at FY14 revs of $112.3 billion.

Comparable sales were as follows:

                                4 Weeks    16 Weeks   52 Weeks

                               ---------  ---------  ---------



            U.S.                   7%         6%         5%

            International          6%         6%         3%



            Total Company          7%         6%         4%

                               =========  =========  =========

Comparable sales for these periods, excluding negative impacts from gasoline price deflation and foreign exchange, were as follows:

                                4 Weeks    16 Weeks   52 Weeks

                               ---------  ---------  ---------



            U.S.                   7%         6%         5%

            International          8%         8%         7%



            Total Company          8%         7%         6%

                               =========  =========  =========

Additional discussion of these results is available in a pre-recorded telephone message. The recording can be accessed by dialing 1-855-859-2056 (conference ID 96621738). This message will be available today through 5:00 p.m. (PT) on September 5, 2014.

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