SECURITIES AND EXCHANGE COMMISSION

Transcript

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   EX-99.1 2 costex9918-k92426.htm EX-99.1

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   COSTCO WHOLESALE CORPORATION REPORTS FOURTH QUARTER AND FISCAL YEAR 2026 OPERATING RESULTS ISSAQUAH, Wash., September 24, 2026 - Costco Wholesale Corporation (“Costco” or the “Company”) (Nasdaq: COST) today announced its operating results for the 16-week fourth quarter and the 52-week fiscal year ended August 30, 2026. Net sales for the quarter increased 11.2 percent, to $93.9 billion, from $84.4 billion last year. Net sales for the fiscal year increased 10.1 percent, to $297.2 billion, from $269.9 billion last year. Comparable sales for the fourth quarter and fiscal year were as follows: | | | | | | | | | | | | | | | | | | | | | | | | | 16 Weeks | | 16 Weeks | | 52 Weeks | | 52 Weeks | | | | Adjusted* | | | | Adjusted* | U.S. | 10.7% | | 7.2% | | 8.2% | | 6.6% | Canada | 5.0% | | 4.6% | | 7.8% | | 6.7% | Other International | 7.0% | | 6.2% | | 9.8% | | 6.5% | | | | | | | | | Total Company | 9.4% | | 6.7% | | 8.4% | | 6.6% | | | | | | | | | Digitally-Enabled | 19.5% | | 19.8% | | 20.9% | | 20.7% |

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   Events & Presentations

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   Certain statements contained in this document constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. For these purposes, forward-looking statements are statements that address activities, events, conditions or developments that the Company expects or anticipates may occur in the future. In some cases forward-looking statements can be identified because they contain words such as “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “intend,” “likely,” “may,” “might,” “plan,” “potential,” “predict,” “project,” “seek,” “should,” “target,” “will,” “would,” or similar expressions and the negatives of those terms. Such forward-looking statements involve risks and uncertainties that may cause actual events, results or performance to differ materially from those indicated by such statements. These risks and uncertainties include, but are not limited to, domestic and international economic conditions, including exchange rates, inflation or deflation, the effects of competition and regulation, uncertainties in the financial markets, consumer and small business spending patterns and debt levels, breaches of security or…

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   CONTACTS: Costco Wholesale Corporation Josh Dahmen, 425/313-8254 Andrew Yoon, 425/313-6305 Bryan Starnes, 425/427-7403

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   COSTCO WHOLESALE CORPORATION CONSOLIDATED STATEMENTS OF INCOME (dollars in millions, except per share data) (unaudited)

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   | | | | | | | | | | | | | | | | | | | | | | | | | 16 Weeks Ended | | 52 Weeks Ended | | August 30, 2026 | | August 31, 2025 | | August 30, 2026 | | August 31, 2025 | REVENUE | | | | | | | | Net sales | $ | 93,873 | | | $ | 84,432 | | | $ | 297,247 | | | $ | 269,912 | | Membership fees | 1,850 | | | 1,724 | | | 5,907 | | | 5,323 | | Total revenue | 95,723 | | | 86,156 | | | 303,154 | | | 275,235 | | OPERATING EXPENSES | | | | | | | | Merchandise costs | 83,531 | | | 75,037 | | | 264,279 | | | 239,886 | | Selling, general and administrative | 8,391 | | | 7,778 | | | 27,190 | | | 24,966 | | Operating income | 3,801 | | | 3,341 | | | 11,685 | | | 10,383 | | OTHER INCOME (EXPENSE) | | | | | | | | Interest expense | (45) | | | (46) | | | (145) | | | (154) | | Interest income and other, net | 253 | | | 215 | | | 711 | | | 589 | | INCOME BEFORE INCOME TAXES | 4,009 | | | 3,510 | | | 12,251 | | | 10,818 | | Provision for income taxes | 1,011 | | | 900 | | | 3,025 | | | 2,719 | | | | | | | | | | | | | | | | | | NET INCOME | $ | 2,998 | | | $ | 2,610 | | | $ | 9,226 | | | $ | 8,099 | | | | | | | | | | NET INCOME PER COMMON SHARE: | | | | | | | | Basic | $ | 6.75 | | | $…

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   COSTCO WHOLESALE CORPORATION CONSOLIDATED BALANCE SHEETS (amounts in millions, except par value and share data) (unaudited) Subject to Reclassification

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   | August 30, 2026 | | August 31, 2025 | ASSETS | | | | CURRENT ASSETS | | | | Cash and cash equivalents | $ | 20,207 | | | $ | 14,161 | | Short-term investments | 1,094 | | | 1,123 | | Receivables, net | 3,959 | | | 3,203 | | Merchandise inventories | 19,324 | | | 18,116 | | Other current assets | 1,998 | | | 1,777 | | Total current assets | 46,582 | | | 38,380 | | OTHER ASSETS | | | | Property and equipment, net | 35,633 | | | 31,909 | | Operating lease right-of-use assets | 2,697 | | | 2,725 | | Other long-term assets | 4,133 | | | 4,085 | | TOTAL ASSETS | $ | 89,045 | | | $ | 77,099 | | LIABILITIES AND EQUITY | | | | CURRENT LIABILITIES | | | | Accounts payable | $ | 22,591 | | | $ | 19,783 | | Accrued salaries and benefits | 5,641 | | | 5,205 | | Accrued member rewards | 3,037 | | | 2,677 | | Deferred membership fees | 3,006 | | | 2,854 | | Current portion of long-term debt | 2,248 | | | 75 | | Other current liabilities | 7,429 | | | 6,514 | | Total current liabilities | 43,952 | | | 37,108 | | OTHER LIABILITIES | | | | Long-term debt, excluding current portion | 3,914 | | | 5,713 | | Long-term operating lease liabilities | 2,414 | | | 2,460 | | Other…

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    COSTCO WHOLESALE CORPORATION CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (amounts in millions) (unaudited) Subject to Reclassification

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    | | | | | | | | | | | | | 52 Weeks Ended | | August 30, 2026 | | August 31, 2025 | CASH FLOWS FROM OPERATING ACTIVITIES | | | | Net income | $ | 9,226 | | | $ | 8,099 | | Adjustments to reconcile net income to net cash provided by operating activities: | | | | Depreciation and amortization | 2,674 | | | 2,426 | | Non-cash lease expense | 318 | | | 303 | | Stock-based compensation | 924 | | | 860 | | | | | | Other non-cash operating activities, net | 355 | | | (117) | | Changes in working capital | 2,328 | | | 1,764 | | | | | | | | | | | | | | Net cash provided by operating activities | 15,825 | | | 13,335 | | CASH FLOWS FROM INVESTING ACTIVITIES | | | | Additions to property and equipment | (6,435) | | | (5,498) | | Purchases of short-term investments | (788) | | | (1,028) | | Maturities of short-term investments | 811 | | | 1,141 | | Other investing activities, net | 26 | | | 74 | | Net cash used in investing activities | (6,386) | | | (5,311) | | CASH FLOWS FROM FINANCING ACTIVITIES | | | | Repayments of short-term borrowings | (577) | | | (862) | | Proceeds from short-term borrowings | 553 | | | 816 | | Repayments of long-term debt | (69) | | | (103) |…