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Costco Wholesale Corporation Reports First Quarter FISCAL YEAR 2016 OPERATING RESULTS

The following excerpt is from the company's SEC filing.

ISSAQUAH, Wash., December 8, 2015 - Costco Wholesale Corporation (Costco or the Company) (Nasdaq: COST) today announced its operating results for the first quarter (twelve weeks) of fiscal 2016, ended November 22, 2015.

Net sales for the first quarter increased one percent, to $26.63 billion from $26.28 billion during the first quarter last year.

Comparable sales for the first quarter of fiscal 2016 were as follows:

12 Weeks

Canada

Other International

Total Company

Comparable sales for this period excluding the negative impacts from gasoline price deflation an d foreign exchange were as follows:

Net income for the quarter was $480 million, or $1.09 per diluted share, compared to $496 million, or $1.12 per diluted share, last year.

Costco currently operates 697 warehouses, including 487 in the United States and Puerto Rico, 90 in Canada, 36 in Mexico, 27 in the United Kingdom, 24 in Japan, 12 in Korea, 11 in Taiwan, eight in Australia and two in Spain. The Company plans to open one additional warehouse before the end of calendar year 2015. Costco also operates electronic commerce web sites in the U.S., Canada, the United Kingdom, Mexico and Korea.

A conference call to discuss these fiscal 2016 first quarter operating results is scheduled for 8:00 a.m. (PT) tomorrow, December 9, 2015, and is available via a webcast on www.costco.com (click on Investor Relations and Play Webcast).

Press Release

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...


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