Costco Wholesale Corporation (COST)
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Apr 24, 2026, 2:45 PM EDT - Market open
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Monthly Sales Update November 2020

Dec 2, 2020

Speaker 1

Hello, and thank you for calling Costco Wholesale Corporation. I'm David Sherwood, 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, November 2 and ended on Sunday, November 29. This period is compared to the 4 weeks that began on Monday, November 4 and ended on Sunday, December 1, 2019. 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 the 4 week month of November came in at 15 point $67,000,000,000 an increase of 15.1 percent from $13,620,000,000 last year. Comparable sales were as follows. On a reported basis, in the U.

S, the 4 weeks was at 12.0 percent for 12 weeks, 14.6 percent 13 weeks, 13.4 percent. In Canada, the 4 weeks is a 16.4 percent 12 weeks is a 16.2% and the 13 weeks is a 16.0%. Other international, the 4 weeks is an 18.2%, 12 weeks is an 18.7% and the 13 weeks is an 18.7%. Total company, the 4 weeks is a 13.4%, 12 weeks is a 15.4%, 13 weeks 14.5%. E commerce for the 4 weeks, 71.3 percent for the 12 weeks, 86.4% and the 13 weeks, 82.0%.

Comparable sales, excluding the impacts from changes in gasoline prices and foreign exchange, were as follows: In the U. S, the 4 weeks is a 14.2 percent 12 weeks, 17.0 percent 13 weeks, 15.7 percent In Canada, 4 weeks is a 15.8%, the 12 weeks is 16.8% and the 13 weeks is a 16.4%. Other international, 4 weeks is a 16.0%, 12 weeks is a 17.7% and the 13 weeks is a 17.5%. Total company, the 4 weeks is a 14.6%, 12 weeks is a 17.1% and the 13 weeks is a 16.0%. E commerce for the 4 weeks is 70.9%, the 12 weeks is an 86.2% and the 13 weeks is an 81.7%.

Our comp traffic or frequency for November was up 5.7% worldwide and 8.4% in the U. S. Worldwide, the average transaction was up 7.2%, which included a net negative impact of 125 basis points from gasoline deflation and FX. Foreign currencies year over year relative to the U. S.

Dollar impacted November comp sales as follows: Canada, positively by approximately 160 basis points other international, positively by approximately 3 10 basis points and total company positively by approximately 60 basis points. Gasoline price deflation negatively impacted total reported comp sales by approximately 185 basis points. The average selling price was 21% lower year over year at $2.29 per gallon this year compared to $2.89 last year. Total gallons sold also continued to be lower year over year. In terms of regional and merchandising categories, the general highlights were as follows.

U. S. Regions with the strongest results were Southeast, Northeast and Texas. Other international and local currencies, we saw the strongest results in Japan, U. K.

And Korea. Moving to merchandise highlights, the following comparable sales results by category for the month exclude the impact of foreign exchange. Food and sundries were positive low 20s. Departments with the strongest results were sundries, frozen foods and cooler. Fresh foods were up mid-20s.

Better performing departments included meat and produce. Hardlines were positive mid teens. Better performing departments included sporting goods, office supplies and hardware. Softlines were positive mid teens. Home furnishings, jewelry and small appliances were strong in the month.

Ancillary business sales were down mid teens, primarily due to lower sales in gasoline and food court. Optical was flat and hearing aids were down slightly. Looking ahead, the December reporting period will include the 5 weeks beginning November 30 and ending January 3, compared to the 5 weeks beginning December second and ending January 5, 2020. December sales will be announced Wednesday, January 6 at 1:15 p. M.

Pacific Time. We will release our Q1 FY 'twenty one earnings on December 10. Earnings will be announced after market close with a conference call to follow at 2 p. M. Pacific Time.

The call can be streamed live via our Investor Relations website. You have any questions regarding our November sales results or any other Investor Relations questions, please call Bob Nelson at 425 313-8255, Josh Damon at 425-313-8254, or myself, David Sherwood at 425-313-8239. This recording will be available until 5 p. M. Pacific Time, Wednesday,

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