For Costco Fiscal 2014 Begins Same Way 2013 Ends, With Growth

On December the 5th, Washington-based food wholesaler Costco said that sales in the first quarter of 2014 (13-weeks) rose 5.5%, from $23.20 billion to $24.47 billion.

Revenue at $25,017 million (+5.5%) includes $546 million from membership fees (+7.4% vs $511m).

During this period, same-store sales were negatively affected by the price of gas (gas sales account for ~15% of consolidated revenue).

year over year the stock price was up 24%.  Declining gas prices affected earnings pershare by $0.02.

Excluding changes in fx rate and gas price, same store sales would've been as follows: 4% in US, 6% International, 5% total company.

 

In the quarter immediately preceding this one, revenue was up only 1% however that period was one week shorter; comparable sales up +5%, international +4% or +7% when fx effects excluded.

Quarterly Earnings

Weakening foreign currencies lowered international profit by about $0.02 a share or $14 million.  Consolidated net earnings up by $9m or 2.2% to $425 million.  per share: 96 cents diluted vs 95 cents last year.

 

Number of warehouses :  648 (14 net opened since end of 2013 fiscal year).  USA 461 (+10), Canada 87 (+2), Mexico 33, UK 25, Japan 18, Taiwan 10, Korea 9, Australia 5 (+2).  Last year at this time new store openings were in the US (+3) and Canada (+1) only.

Powered by Bullraider.com