Costco Wholesale Corporation reported net sales of $4.87 billion for the five weeks ended April 3, an increase of 10% from $4.41 billion in the same five-week period of the prior fiscal year.
For the first 31 weeks of its 2005 fiscal year ended April 3, 2005, the Company reported net sales of $30.49 billion, an increase of 10% from $27.79 billion during the similar 31-week period of the prior fiscal year.
Comparable sales for the 5-week and 31-week periods ended April 3, 2005, were as follows:
5 Weeks 31 Weeks ------------ ------------ US 6% 6% International 13% 10% Total Company 7% 7% ============ ============
This year's five-week period included 34 days of sales compared to 35 days last year, reflecting the timing of Easter. This calendar shift impacted sales negatively by approximately one to two percent.
Reported net sales were reduced by the implementation of Emerging Issues Task Force Issue No. 03-10 (“EITF 03-10”), “Application of Issue No. 02-16 by Resellers to Sales Incentives Offered to Consumers by Manufacturers,” which was effective at the beginning of the Company's fiscal 2004 third quarter, February 16, 2004. Sales for the 5-week reporting periods are on a comparable after-coupon basis; however, had sales for the 31-week year-to-date period last year been reported under EITF 03-10, the total Company reported net sales increase would have been 10% and the total Company comparable sales increase would have been 8%.