Costco Wholesale Corporation (COST) Period Ending/ Trading Statement Call Prepared Remarks Transcript

Hello. I'm Andrew Yoon, Director of Finance and Investor Relations, and I will review our sales results for the 5-week retail month of June, which started on Monday, June 1, and ended on Sunday, July 5. This period is compared to the 5 weeks that began last year on Monday, June 2, and ended on Sunday, July 6. 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 all gasoline sales and the impact of 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 $29.24 billion, an increase of 10.6% from $26.44 billion last year. Reported comparable sales for the month were as follows: U.S., 10.6%; Canada, 3.7%; Other International, 4.7%; total company, 8.8%; digitally enabled 20.9%. Comparable sales for the month, excluding the impacts of changes in gasoline prices and foreign exchange were as follows: U.S., 7.6%; Canada, 4.9%; Other International, 5.6%; total c...