Costco Wholesale Corporation (COST)
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Apr 24, 2026, 2:45 PM EDT - Market open
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Monthly Sales Update July 2025

Aug 6, 2025

Andrew Yoon
Director of Finance and Investor Relations, Costco Wholesale Corporation

Hello, I'm Andrew Yoon, Director of Finance and Investor Relations, and I'll review our sales results for the four-week retail month of July, which started on Monday, July 7th and ended on Sunday, August 3rd. This period is compared to the four weeks that began last year on Monday, July 8 and ended on Sunday, August 4. 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. Comparable sales and comparable sales excluding impacts from changes in gasoline prices and foreign exchange are intended as supplemental information and are not a substitute for net sales presented in accordance with U.S. GAAP. As reported in our release, net sales for the month came in at $20.89 billion, an increase of 8.5% from $19.26 billion last year. Reported comparable sales for the month were as follows: U.S. 5.5%, Canada 7.6%, other international 9.5%, total company 6.4%, e-comm 15.1%. Comparable sales for the month excluding the impacts from changes in gasoline prices and foreign exchange were as follows: U.S. 6.5%, Canada 9.1%, other international 7.5%, total company 7.0%, e-comm 14.9%.

Our comp traffic or frequency for the month was up 4.3% worldwide and 4.3% in the U.S. Foreign currencies year over year relative to the U.S. dollar positively impacted total and comparable sales as follows: Canada by approximately 0.3%, other international by approximately 2.6%, and total company by approximately 0.4%. Gas price deflation negatively impacted total reported comp sales by approximately -1.0%. The average worldwide selling price per gallon was down approximately -8.3% versus last year. Worldwide, the average transaction was up approximately 2.0%, which includes the impacts from gas deflation and FX. Ex-gas deflation and FX, average transaction was up about 2.6%. In terms of regional and merchandising categories, the general highlights were as follows: U.S. regions with the strongest comparable sales were the Northwest, Midwest, and Southeast. Other international and local currencies, we saw the strongest results in Australia, Taiwan, and Mexico.

The negative impact of cannibalization was approximately minus 50 basis points for the total company. Moving to merchandising highlights, the following comparable sales results by category for the month exclude the impact of foreign exchange. Food and sundries were positive mid-single digits. Better performing departments included cooler, candy, and food. Fresh foods was up high- single digits. Better performing departments included meat and bakery. Non-foods were positive high single digits. Better performing departments included gift cards, jewelry, and men’s apparel. Ancillary business sales were down low- single digits. Pharmacy, optical, and hearing aid were the top performers. Gasoline was down mid to high- single digits, driven by price per gallon changes year over year. Looking ahead, the August reporting period will include four weeks beginning August 4th and ending August 31st, compared to the four weeks beginning August 5th and ending September 1st, 2024.

If you have any investor relations questions, please call Josh Damon at 425 313 8254 or me at 425 313 6305. This recording will be available until 4:00 P.M. Pacific Time, Wednesday, August 13th.

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