Thread - COST July '02 sales results (source www.costco.com under investor relations):
ISSAQUAH, Wash., Aug 8, 2002 (BUSINESS WIRE) -- Costco Wholesale Corporation (Nasdaq: COST) today reported net sales of $2.96 billion for the four weeks ended August 4, 2002, an increase of 10 percent from $2.70 billion in the same four-week period of the prior fiscal year. For the first forty-eight weeks of its 2002 fiscal year ended August 4, 2002, the Company reported net sales of $34.97 billion, an increase of 11 percent from $31.40 billion during the comparable period of the prior fiscal year.
Comparable sales for the 4-week and 48-week periods ended August 4, 2002 were as follows:
4 Weeks 48 Weeks
--------------- ---------------
US 6% 7%
International 2% 2%
Total Company 5% 6%
=============== ===============
Costco currently operates 393 warehouses, including 289 in the United States, 60 in Canada, 14 in the United Kingdom, five in Korea, three in Taiwan, two in Japan and 20 in Mexico. The Company also operates Costco Online, an electronic commerce web site, at www.costco.com. The Company plans to open one new warehouse prior to the end of its 2002 fiscal year on September 1, 2002. The Company also plans to open an additional 17 to 19 new warehouses (including one relocation of an existing warehouse to a larger and better-located facility) prior to the end of calendar year 2002.
[end of release]
Sure doesn't explain the drop from circa $40/shr. as COST has been growing about 11%/yr. for awhile.
Incidentally, the COSTCO just off I-95 on Route 3 at Fredericksburg VA does, indeed, have a gas station. It competes with several other stations, including a WaWa. Gas recently (last weekend) had jumped up to $1.279 from $1.239 for basic regular. The Exxon nearby was at a whopping $1.319. The store's bigger than the Pentagon City VA store (serving WashDC) in keeping with COST's decision to build larger stores than it has been. Meats, wines, and frozen foods are typically attractively priced compared to the nearby BJ's, WalMart, and Shopper's Food Warehouse. We'll see how they do.
Regards,
Harry J. |
