Costco (COST) Sept. Comps Increase 8.4%

Costco Wholesale Corporation (Nasdaq: COST) today reported net sales of $13.64 billion for the retail month of September, the five weeks ended October 7, 2018, an increase of 10.3 percent from $12.37 billion last year.

Beginning in fiscal year 2019, the Company adopted Revenue Recognition Standard ASC 606 (ASC 606). For all of fiscal year 2019, we estimate the new standard will benefit net and comparable sales by approximately 1 percent. The second chart below excludes the impact of gasoline prices, foreign exchange, and ASC 606 on our comparable sales.

Comparable sales were as follows:

Comparable sales excluding the impacts from changes in gasoline prices, foreign exchange and ASC 606 were as follows:

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 73993692). This message will be available through 5:00 p.m. (PT) on Wednesday, October 17, 2018.

Costco currently operates 763 warehouses, including 528 in the United States and Puerto Rico, 100 in Canada, 39 in Mexico, 28 in the United Kingdom, 26 in Japan, 15 in Korea, 13 in Taiwan, 10 in Australia, two in Spain, one in Iceland, and one in France. Costco also operates e-commerce sites in the U.S., Canada, the United Kingdom, Mexico, Korea, and Taiwan.

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