COSTCO Wholesale Corporation Reports First Quarter Fiscal Year 2020 Operating Results

Costco Wholesale Corporation announced its operating results for the first quarter of 2020 (ending November 24, 2019). Net sales for the quarter were $36.24 billion, up 5.6 percent from $34.31 billion the previous year.

0
1391
Comparable sales for the first quarter fiscal 2020 were as follows:
12 Weeks
12 Weeks
Adjusted*
U.S.
4.7%
5.0%
Canada
2.9%
5.1%
Other International
3.2%
4.5%
Total Company
4.3%
5.0%
E-commerce
5.5%
5.7%
*Excluding the impacts from changes in gasoline prices and foreign exchange.
Total and comparable sales were negatively impacted by approximately one-half percent due to Thanksgiving occurring a week later this year. E-commerce sales in the quarter were negatively impacted by an estimated 12 percentage points.
Net income for the quarter was $844 million, or $1.90 per diluted share, compared to $767 million, or $1.73 per diluted share, last year. This year’s first quarter reflects a $77 million ($0.17 per diluted share) tax benefit related to stock-based compensation, compared to a $59 million ($0.13 per diluted share) similar benefit last year.
Costco currently operates 785 warehouses, including 546 in the United States and Puerto Rico, 100 in Canada, 39 in Mexico, 29 in the United Kingdom, 26 in Japan, 16 in Korea, 13 in Taiwan, 11 in Australia, two 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, and Japan.

LEAVE A REPLY

Please enter your comment!
Please enter your name here