Costco-2019年Costco第三季度及年初销售业绩（英文）-2019.9-3页_96kb
报告摘要
Costco Wholesale Corporation Q3 and Year-To-Date Fiscal 2019 Summary
Core Content
Costco Wholesale Corporation released its third quarter and year-to-date operating results for fiscal 2019, ending on May 12, 2019. The report highlights key financial performance metrics, operational details, and forward-looking statements.
Key Financial Highlights
Net Sales
- Third Quarter (12 Weeks): Increased by 7.4% to $33.96 billion from $31.62 billion in the same period last year.
- Year-To-Date (36 Weeks): Increased by 8.3% to $102.90 billion from $95.02 billion in the prior year.
Net Income
- Third Quarter: Reached $906 million, or $2.05 per diluted share, compared to $750 million, or $1.70 per diluted share, in the same period last year.
- Year-To-Date: Achieved $2.56 billion, or $5.79 per diluted share, compared to $2.09 billion, or $4.74 per diluted share, in the prior year.
Non-Recurring Tax Item
- The third quarter included a non-recurring tax item of $73 million, or 16 cents per diluted share, which positively impacted net income.
Regional Sales Performance (Comparable Sales)
| Region | 12 Weeks | 12 Weeks Adjusted* | 36 Weeks | 36 Weeks Adjusted* |
|---|---|---|---|---|
| U.S. | 7.0% | 5.5% | 8.5% | 6.9% |
| Canada | 1.3% | 5.1% | 1.1% | 5.5% |
| Other International | 1.7% | 6.9% | 2.1% | 5.8% |
| Total Company | 5.5% | 5.6% | 6.6% | 6.5% |
| E-commerce | 22.0% | 19.5% | 24.7% | 23.9% |
*Excludes impacts from changes in gasoline prices, foreign exchange, and a previously disclosed accounting change concerning revenue recognition (ASC 606).
Operating Expenses
| Item | 12 Weeks Ended May 12, 2019 | 12 Weeks Ended May 13, 2018 | 36 Weeks Ended May 12, 2019 | 36 Weeks Ended May 13, 2018 |
|---|---|---|---|---|
| Merchandise Costs | $30,233 | $28,131 | $91,576 | $84,481 |
| Selling, General & Admin | $3,371 | $3,155 | $10,310 | $9,613 |
| Preopening Expenses | $14 | $8 | $45 | $37 |
| Operating Income | $1,122 | $1,067 | $3,274 | $3,034 |
Other Income (Expense)
| Item | 12 Weeks Ended May 12, 2019 | 12 Weeks Ended May 13, 2018 | 36 Weeks Ended May 12, 2019 | 36 Weeks Ended May 13, 2018 |
|---|---|---|---|---|
| Interest Expense | ($35) | ($37) | ($105) | ($111) |
| Interest Income & Other | $36 | $41 | $104 | $70 |
| Income Before Taxes | $1,123 | $1,071 | $3,273 | $2,993 |
| Provision for Income Taxes | $207 | $309 | $679 | $867 |
| Net Income (Attributable to Costco) | $906 | $750 | $2,562 | $2,091 |
Shares and Earnings Per Share
| Item | 12 Weeks Ended May 12, 2019 | 12 Weeks Ended May 13, 2018 | 36 Weeks Ended May 12, 2019 | 36 Weeks Ended May 13, 2018 |
|---|---|---|---|---|
| Basic EPS | $2.06 | $1.71 | $5.83 | $4.77 |
| Diluted EPS | $2.05 | $1.70 | $5.79 | $4.74 |
| Shares Used (000s) | Basic: 439,859 | Basic: 438,740 | Basic: 439,767 | Basic: 438,576 |
| Diluted: 442,642 | Diluted: 441,715 | Diluted: 442,565 | Diluted: 441,383 |
Operational Overview
- Costco operates 773 warehouses globally, including 536 in the U.S. and Puerto Rico, 100 in Canada, 39 in Mexico, 28 in the U.K., 26 in Japan, 16 in Korea, 13 in Taiwan, 11 in Australia, 2 in Spain, and 1 each in Iceland and France.
- The company also runs e-commerce sites in the U.S., Canada, the U.K., Mexico, Korea, and Taiwan.
Conference Call
A conference call to discuss the results was scheduled for 2:00 p.m. (PT), May 30, 2019, and a webcast was available at www.costco.com under the Investor Relations section.
Risk and Forward-Looking Statements
The report includes forward-looking statements that involve risks and uncertainties, such as:
- Domestic and international economic conditions
- Exchange rates and geopolitical conditions (including tariffs)
- Competition and regulation
- Consumer and small business spending patterns
- Rising costs (e.g., employee health care, energy, and commodities)
- Security and privacy breaches
- Real estate conditions and capital spending
- Vendors' actions
- Ability to remediate material weaknesses in internal control
Costco does not undertake to update these forward-looking statements unless required by law.
Balance Sheet (Condensed Consolidated)
Assets
- Total Assets: Increased to $43,752 million from $40,830 million.
- Current Assets: Rose to $22,285 million from $20,289 million.
- Cash and Cash Equivalents: $7,013 million vs. $6,055 million
- Short-Term Investments: $1,154 million vs. $1,204 million
- Receivables, Net: $1,704 million vs. $1,669 million
- Merchandise Inventories: $11,304 million vs. $11,040 million
- Other Current Assets: $1,110 million vs. $321 million
- Property and Equipment: Net value increased to $20,475 million from $19,681 million.
- Other Assets: $992 million vs. $860 million
Liabilities and Equity
- Total Liabilities: Increased to $28,932 million from $27,727 million.
- Current Liabilities: Rose to $22,832 million from $19,926 million.
- Accounts Payable: $11,331 million vs. $11,237 million
- Accrued Salaries & Benefits: $2,888 million vs. $2,994 million
- Accrued Member Rewards: $1,160 million vs. $1,057 million
- Deferred Membership Fees: $1,761 million vs. $1,624 million
- Current Portion of Long-Term Debt: $1,699 million vs. $90 million
- Other Current Liabilities: $3,993 million vs. $2,924 million
- Long-Term Debt (excluding current portion): $4,799 million vs. $6,487 million
- Other Liabilities: $1,301 million vs. $1,314 million
- Equity:
- Total Costco Stockholders’ Equity: Increased to $14,486 million from $12,799 million.
- Retained Earnings: $9,496 million vs. $7,887 million
- Noncontrolling Interests: $334 million vs. $304 million
Summary
Costco reported strong financial performance in Q3 and year-to-date for fiscal 2019, with increased net sales and net income. The company's e-commerce segment also showed robust growth. Costco continues to expand its global presence with a significant number of warehouses and e-commerce platforms. The report includes forward-looking statements with associated risks, and the company's balance sheet reflects a solid financial position.
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