(State or other jurisdiction of incorporation) | (Commission File No.) | (I.R.S. Employer Identification No.) |
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) | |||||
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) | |||||
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) | |||||
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Title of each class | Trading Symbol(s) | Name of each exchange on which registered | ||||||||||||
COSTCO WHOLESALE CORPORATION | |||||
By: | /s/ Richard A. Galanti | ||||
Richard A. Galanti | |||||
Executive Vice President, Chief Financial Officer and Director |
12 Weeks | 12 Weeks | 24 Weeks | 24 Weeks | ||||||||||||||||||||
Adjusted* | Adjusted* | ||||||||||||||||||||||
U.S. | 5.7% | 5.8% | 7.5% | 6.2% | |||||||||||||||||||
Canada | 3.5% | 9.6% | 2.9% | 8.9% | |||||||||||||||||||
Other International | 3.8% | 9.5% | 0.4% | 9.3% | |||||||||||||||||||
Total Company | 5.2% | 6.8% | 5.9% | 7.0% | |||||||||||||||||||
E-commerce | -9.6% | -8.7% | -6.8% | -5.5% |
4 Weeks | 4 Weeks | 26 Weeks | 26 Weeks | ||||||||||||||||||||
Adjusted* | Adjusted* | ||||||||||||||||||||||
U.S. | 3.4% | 3.5% | 7.1% | 6.0% | |||||||||||||||||||
Canada | 1.2% | 7.3% | 2.7% | 8.8% | |||||||||||||||||||
Other International | 6.5% | 11.5% | 0.7% | 9.4% | |||||||||||||||||||
Total Company | 3.5% | 5.0% | 5.6% | 6.8% | |||||||||||||||||||
E-commerce | -11.2% | -10.3% | -7.0% | -5.7% |
12 Weeks Ended | 24 Weeks Ended | ||||||||||||||||||||||
February 12, 2023 | February 13, 2022 | February 12, 2023 | February 13, 2022 | ||||||||||||||||||||
REVENUE | |||||||||||||||||||||||
Net sales | $ | 54,239 | $ | 50,937 | $ | 107,676 | $ | 100,354 | |||||||||||||||
Membership fees | 1,027 | 967 | 2,027 | 1,913 | |||||||||||||||||||
Total revenue | 55,266 | 51,904 | 109,703 | 102,267 | |||||||||||||||||||
OPERATING EXPENSES | |||||||||||||||||||||||
Merchandise costs | 48,423 | 45,517 | 96,192 | 89,469 | |||||||||||||||||||
Selling, general and administrative | 4,940 | 4,575 | 9,857 | 9,293 | |||||||||||||||||||
Operating income | 1,903 | 1,812 | 3,654 | 3,505 | |||||||||||||||||||
OTHER INCOME (EXPENSE) | |||||||||||||||||||||||
Interest expense | (34) | (36) | (68) | (75) | |||||||||||||||||||
Interest income and other, net | 114 | 25 | 167 | 67 | |||||||||||||||||||
INCOME BEFORE INCOME TAXES | 1,983 | 1,801 | 3,753 | 3,497 | |||||||||||||||||||
Provision for income taxes | 517 | 481 | 923 | 832 | |||||||||||||||||||
Net income including noncontrolling interests | 1,466 | 1,320 | 2,830 | 2,665 | |||||||||||||||||||
Net income attributable to noncontrolling interests | — | (21) | — | (42) | |||||||||||||||||||
NET INCOME ATTRIBUTABLE TO COSTCO | $ | 1,466 | $ | 1,299 | $ | 2,830 | $ | 2,623 | |||||||||||||||
NET INCOME PER COMMON SHARE ATTRIBUTABLE TO COSTCO: | |||||||||||||||||||||||
Basic | $ | 3.30 | $ | 2.93 | $ | 6.37 | $ | 5.91 | |||||||||||||||
Diluted | $ | 3.30 | $ | 2.92 | $ | 6.37 | $ | 5.90 | |||||||||||||||
Shares used in calculation (000s): | |||||||||||||||||||||||
Basic | 443,877 | 443,623 | 443,857 | 443,500 | |||||||||||||||||||
Diluted | 444,475 | 444,916 | 444,503 | 444,760 |
February 12, 2023 | August 28, 2022 | ||||||||||
ASSETS | |||||||||||
CURRENT ASSETS | |||||||||||
Cash and cash equivalents | $ | 12,970 | $ | 10,203 | |||||||
Short-term investments | 735 | 846 | |||||||||
Receivables, net | 2,714 | 2,241 | |||||||||
Merchandise inventories | 16,081 | 17,907 | |||||||||
Other current assets | 1,830 | 1,499 | |||||||||
Total current assets | 34,330 | 32,696 | |||||||||
OTHER ASSETS | |||||||||||
Property and equipment, net | 25,724 | 24,646 | |||||||||
Operating lease right-of-use assets | 2,859 | 2,774 | |||||||||
Other long-term assets | 3,935 | 4,050 | |||||||||
TOTAL ASSETS | $ | 66,848 | $ | 64,166 | |||||||
LIABILITIES AND EQUITY | |||||||||||
CURRENT LIABILITIES | |||||||||||
Accounts payable | $ | 16,407 | $ | 17,848 | |||||||
Accrued salaries and benefits | 4,483 | 4,381 | |||||||||
Accrued member rewards | 2,016 | 1,911 | |||||||||
Deferred membership fees | 2,412 | 2,174 | |||||||||
Current portion of long-term debt | 76 | 73 | |||||||||
Other current liabilities | 7,122 | 5,611 | |||||||||
Total current liabilities | 32,516 | 31,998 | |||||||||
OTHER LIABILITIES | |||||||||||
Long-term debt, excluding current portion | 6,506 | 6,484 | |||||||||
Long-term operating lease liabilities | 2,557 | 2,482 | |||||||||
Other long-term liabilities | 2,470 | 2,555 | |||||||||
TOTAL LIABILITIES | 44,049 | 43,519 | |||||||||
COMMITMENTS AND CONTINGENCIES | |||||||||||
EQUITY | |||||||||||
Preferred stock $0.005 par value; 100,000,000 shares authorized; no shares issued and outstanding | — | — | |||||||||
Common stock $0.005 par value; 900,000,000 shares authorized; 443,550,000 and 442,664,000 shares issued and outstanding | 2 | 2 | |||||||||
Additional paid-in capital | 7,123 | 6,884 | |||||||||
Accumulated other comprehensive loss | (1,672) | (1,829) | |||||||||
Retained earnings | 17,341 | 15,585 | |||||||||
Total Costco stockholders’ equity | 22,794 | 20,642 | |||||||||
Noncontrolling interests | 5 | 5 | |||||||||
TOTAL EQUITY | 22,799 | 20,647 | |||||||||
TOTAL LIABILITIES AND EQUITY | $ | 66,848 | $ | 64,166 |
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Cover |
Mar. 02, 2023 |
---|---|
Cover [Abstract] | |
Amendment Flag | false |
Entity Central Index Key | 0000909832 |
Document Type | 8-K |
Document Period End Date | Mar. 02, 2023 |
Entity Incorporation, State or Country Code | WA |
Entity File Number | 0-20355 |
Entity Tax Identification Number | 91-1223280 |
Entity Address, Address Line One | 999 Lake Drive |
Entity Address, City or Town | Issaquah |
Entity Address, State or Province | WA |
Entity Address, Postal Zip Code | 98027 |
City Area Code | 425 |
Local Phone Number | 313-8100 |
Written Communications | false |
Soliciting Material | false |
Pre-commencement Tender Offer | false |
Pre-commencement Issuer Tender Offer | false |
Title of 12(b) Security | Common Stock, par value $.005 per share |
Trading Symbol | COST |
Security Exchange Name | NASDAQ |
Entity Emerging Growth Company | false |
Entity Registrant Name | COSTCO WHOLESALE CORP /NEW |
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