Costco Wholesale Corporation (COST)
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Monthly Sales Update November 2023

Nov 29, 2023

Speaker 1

Hello. I'm Josh Damon, AVP of Finance and Investor Relations, and I will review our sales results for the 4 week retail month of November, which started on Monday, October 30 and ended on Sunday, November 26. This period is compared to the 4 weeks that began last year on Monday, October 31 ended on Sunday, November 27. This call will include forward looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements involve risks and uncertainties that may cause actual events, results, and or performance to differ materially from those indicated by such statements.

The risks and uncertainties include, but are not limited to, those outlined in today's call and sales release, as well as other risks identified from time to time in the company's public statements and reports filed with the SEC. Forward looking statements speak only as of the date they are made, and the company does not undertake to update them except as required by law. As reported in our release, net sales for November came in at $20,140,000,000 an increase of 5.1 sent from $19,170,000,000 last year. Reported comparable sales for November were as follows: in the US, 1.8 percent Canada, 4.4 percent other international, 11.7 percent total company, 3.5 percent ecom, 9.9 percent. Comparable sales for November, excluding the impacts from changes in gasoline prices and foreign exchange were as follows: U.

S, 3.0 percent Canada, 7.9 percent is other international, 8.8 percent total company, 4.4 percent ecom, 9.8%. Our com traffic or frequency for November was up 4.8% worldwide and 3.7% in the U. S. Foreign currencies year over year relative to the U. S.

Dollar impacted total and comparable sales as follows: Canada, negatively by approximately 2.4% other international positively by approximately 3.7 percent and total company positively by approximately 0.2%. Gas price deflation negatively impacted total reported comp sales by approximately 1.1%. The average worldwide selling price per gallon was down approximately 9% versus last year. Worldwide, the average transaction was down about 1.3%, which includes the impact from gas deflation and FX. In terms of regional and merchandising categories, the general highlights were as follows: U.

S. Regions with the strongest comparable sales were the Northeast, Southeast, and Texas. Other international and local currencies, we saw the strongest results in Mexico, Spain, and Korea. Moving to merchandise highlights, the following comparable sales results by category for the month exclude the positive impact of foreign Ainge. Food and sundries were positive mid single digits.

Sundries, food and cooler were the strongest departments. Is a good example of how we can use our products to improve our products. Fresh foods were up high single digits. Better performing departments included jewelry, tires, and health and BBAs. Weaker departments were sporting goods, media, and office supplies.

Ancillary business sales were negative low single digits. Pharmacy, food court and optical were the top performers, offset by gasoline, which was down high single digits. Looking ahead, we will release our Q1 FY 'twenty four earnings on Thursday, December 14. Earnings will be announced after market close with a conference calls will follow at 2 p. M.

Pacific Time. The call can be streamed live via our Investor Relations website. The December reporting period will include the 5 weeks is beginning November 27th and ending December 31st compared to the 5 weeks beginning November 28, 2022 and ending January 1, 2023. December sales will be announced Thursday, January 4th at 1:15 pm Pacific Time. If you have any investor relations questions, please call David Sherwood at 425-313-8239 or give me a call at 425-313-8254.

This recording will be available until 5 PM Pacific Time, Wednesday, December 6th.

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