Exhibit 99.1
Press Release
COSTCO WHOLESALE CORPORATION REPORTS THIRD QUARTER AND YEAR-TO-DATE OPERATING RESULTS FOR FISCAL 2026
ISSAQUAH, Wash., May 28, 2026 - Costco Wholesale Corporation (“Costco” or the “Company”) (Nasdaq: COST) today announced its operating results for the third quarter (twelve weeks) and the first 36 weeks of fiscal 2026, ended May 10, 2026.
Net sales for the quarter increased 11.6 percent, to $69.15 billion, from $61.96 billion last year. Net sales for the first 36 weeks increased 9.6 percent, to $203.37 billion, from $185.48 billion last year.
Comparable sales for the third quarter and first 36 weeks of fiscal 2026 were as follows:
| 12 Weeks | 12 Weeks | 36 Weeks | 36 Weeks | ||||||||||||||||||||
| Adjusted* | Adjusted* | ||||||||||||||||||||||
| U.S. | 9.4% | 6.8% | 7.1% | 6.4% | |||||||||||||||||||
| Canada | 10.7% | 6.2% | 9.1% | 7.6% | |||||||||||||||||||
| Other International | 11.2% | 5.9% | 11.0% | 6.6% | |||||||||||||||||||
| Total Company | 9.8% | 6.6% | 7.9% | 6.6% | |||||||||||||||||||
| Digitally-Enabled | 21.5% | 20.8% | 21.6% | 21.1% | |||||||||||||||||||
*Excluding the impacts from changes in gasoline prices and foreign exchange.
Net income for the quarter was $2.19 billion, $4.93 per diluted share, compared to $1.90 billion, $4.28 per diluted share, last year. Net income for the first 36 weeks was $6.23 billion, $14.01 per diluted share, compared to $5.49 billion, $12.34 per diluted share, last year.
Costco currently operates 931 warehouses, including 639 in the United States and Puerto Rico, 115 in Canada, 43 in Mexico, 37 in Japan, 29 in the United Kingdom, 20 in Korea, 15 in Australia, 14 in Taiwan, seven in China, five in Spain, three in France, two in Sweden, and one each in Iceland, and New Zealand. Costco also operates e-commerce sites in the U.S., Canada, the U.K., Mexico, Korea, Taiwan, Japan, Australia, and China.
A conference call to discuss these results is scheduled for 2:00 p.m. (PT) today, May 28, 2026, and is available via a webcast on investor.costco.com (click on “Events & Presentations”).
Press Release
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 privacy of member or business information, conditions affecting the acquisition, development, ownership or use of real estate, capital spending, actions of vendors, rising costs associated with employees (generally including health-care costs and wages), workforce interruptions, energy and certain commodities, geopolitical conditions (including tariffs and global conflicts), the ability to maintain effective internal control over financial reporting, regulatory and other impacts related to environmental and social matters, public-health related factors, and other risks identified from time to time in the Company’s public statements and reports filed with the Securities and Exchange Commission. Forward-looking statements speak only as of the date they are made, and the Company does not undertake to update these statements, except as required by law. Comparable sales and comparable sales excluding impacts from changes in gasoline prices and foreign exchange are intended as supplemental information and are not a substitute for net sales presented in accordance with U.S. GAAP.
CONTACTS: Costco Wholesale Corporation
Josh Dahmen, 425/313-8254
Andrew Yoon, 425/313-6305
Bryan Starnes, 425/427-7403
COST-Earn
Press Release
COSTCO WHOLESALE CORPORATION
CONDENSED CONSOLIDATED STATEMENTS OF INCOME
(dollars in millions, except per share data) (unaudited)
| 12 Weeks Ended | 36 Weeks Ended | ||||||||||||||||||||||
| May 10, 2026 | May 11, 2025 | May 10, 2026 | May 11, 2025 | ||||||||||||||||||||
| REVENUE | |||||||||||||||||||||||
| Net sales | $ | 69,154 | $ | 61,965 | $ | 203,374 | $ | 185,480 | |||||||||||||||
| Membership fees | 1,373 | 1,240 | 4,057 | 3,599 | |||||||||||||||||||
| Total revenue | 70,527 | 63,205 | 207,431 | 189,079 | |||||||||||||||||||
| OPERATING EXPENSES | |||||||||||||||||||||||
| Merchandise costs | 61,519 | 54,996 | 180,748 | 164,849 | |||||||||||||||||||
| Selling, general and administrative | 6,193 | 5,679 | 18,799 | 17,188 | |||||||||||||||||||
| Operating income | 2,815 | 2,530 | 7,884 | 7,042 | |||||||||||||||||||
| OTHER INCOME (EXPENSE) | |||||||||||||||||||||||
| Interest expense | (32) | (35) | (100) | (108) | |||||||||||||||||||
| Interest income and other, net | 155 | 85 | 458 | 374 | |||||||||||||||||||
| INCOME BEFORE INCOME TAXES | 2,938 | 2,580 | 8,242 | 7,308 | |||||||||||||||||||
| Provision for income taxes | 746 | 677 | 2,014 | 1,819 | |||||||||||||||||||
| NET INCOME | $ | 2,192 | $ | 1,903 | $ | 6,228 | $ | 5,489 | |||||||||||||||
| NET INCOME PER COMMON SHARE: | |||||||||||||||||||||||
| Basic | $ | 4.94 | $ | 4.29 | $ | 14.03 | $ | 12.36 | |||||||||||||||
| Diluted | $ | 4.93 | $ | 4.28 | $ | 14.01 | $ | 12.34 | |||||||||||||||
| Shares used in calculation (000s): | |||||||||||||||||||||||
| Basic | 443,923 | 443,958 | 443,943 | 443,976 | |||||||||||||||||||
| Diluted | 444,430 | 444,762 | 444,455 | 444,846 | |||||||||||||||||||
Press Release
COSTCO WHOLESALE CORPORATION
CONDENSED CONSOLIDATED BALANCE SHEETS
(amounts in millions, except par value and share data) (unaudited)
Subject to Reclassification
| May 10, 2026 | August 31, 2025 | ||||||||||
| ASSETS | |||||||||||
| CURRENT ASSETS | |||||||||||
| Cash and cash equivalents | $ | 18,946 | $ | 14,161 | |||||||
| Short-term investments | 1,050 | 1,123 | |||||||||
| Receivables, net | 3,750 | 3,203 | |||||||||
| Merchandise inventories | 19,418 | 18,116 | |||||||||
| Other current assets | 2,013 | 1,777 | |||||||||
| Total current assets | 45,177 | 38,380 | |||||||||
| OTHER ASSETS | |||||||||||
| Property and equipment, net | 34,293 | 31,909 | |||||||||
| Operating lease right-of-use assets | 2,747 | 2,725 | |||||||||
| Other long-term assets | 4,213 | 4,085 | |||||||||
| TOTAL ASSETS | $ | 86,430 | $ | 77,099 | |||||||
| LIABILITIES AND EQUITY | |||||||||||
| CURRENT LIABILITIES | |||||||||||
| Accounts payable | $ | 22,363 | $ | 19,783 | |||||||
| Accrued salaries and benefits | 5,218 | 5,205 | |||||||||
| Accrued member rewards | 2,948 | 2,677 | |||||||||
| Deferred membership fees | 3,157 | 2,854 | |||||||||
| Other current liabilities | 8,439 | 6,589 | |||||||||
| Total current liabilities | 42,125 | 37,108 | |||||||||
| OTHER LIABILITIES | |||||||||||
| Long-term debt, excluding current portion | 5,670 | 5,713 | |||||||||
| Long-term operating lease liabilities | 2,466 | 2,460 | |||||||||
| Other long-term liabilities | 2,660 | 2,654 | |||||||||
| TOTAL LIABILITIES | 52,921 | 47,935 | |||||||||
| COMMITMENTS AND CONTINGENCIES | |||||||||||
| EQUITY | |||||||||||
| Preferred stock $0.005 par value; 100,000,000 shares authorized; no shares issued and outstanding | — | — | |||||||||
| Common stock $0.005 par value; 900,000,000 shares authorized; 443,514,000 and 443,237,000 shares issued and outstanding | 2 | 2 | |||||||||
| Additional paid-in capital | 8,683 | 8,282 | |||||||||
| Accumulated other comprehensive loss | (1,658) | (1,770) | |||||||||
| Retained earnings | 26,482 | 22,650 | |||||||||
| TOTAL EQUITY | 33,509 | 29,164 | |||||||||
| TOTAL LIABILITIES AND EQUITY | $ | 86,430 | $ | 77,099 | |||||||
Press Release
COSTCO WHOLESALE CORPORATION
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
(amounts in millions) (unaudited)
Subject to Reclassification
| 36 Weeks Ended | |||||||||||
| May 10, 2026 | May 11, 2025 | ||||||||||
| CASH FLOWS FROM OPERATING ACTIVITIES | |||||||||||
| Net income | $ | 6,228 | $ | 5,489 | |||||||
| Adjustments to reconcile net income to net cash provided by operating activities: | |||||||||||
| Depreciation and amortization | 1,791 | 1,652 | |||||||||
| Non-cash lease expense | 221 | 208 | |||||||||
| Stock-based compensation | 771 | 720 | |||||||||
| Other non-cash operating activities, net | 36 | (15) | |||||||||
Changes in working capital | 2,086 | 1,414 | |||||||||
| Net cash provided by operating activities | 11,133 | 9,468 | |||||||||
| CASH FLOWS FROM INVESTING ACTIVITIES | |||||||||||
| Additions to property and equipment | (4,228) | (3,532) | |||||||||
| Purchases of short-term investments | (480) | (573) | |||||||||
| Maturities of short-term investments | 544 | 786 | |||||||||
| Other investing activities, net | 4 | (24) | |||||||||
| Net cash used in investing activities | (4,160) | (3,343) | |||||||||
| CASH FLOWS FROM FINANCING ACTIVITIES | |||||||||||
| Repayments of short-term borrowings | (390) | (635) | |||||||||
| Proceeds from short-term borrowings | 459 | 616 | |||||||||
| Repayments of long-term debt | (69) | — | |||||||||
| Tax withholdings on stock-based awards | (361) | (392) | |||||||||
| Repurchases of common stock | (603) | (623) | |||||||||
| Cash dividend payments | (1,154) | (1,030) | |||||||||
| Financing lease payments and other financing activities, net | (57) | (118) | |||||||||
| Net cash used in financing activities | (2,175) | (2,182) | |||||||||
| EFFECT OF EXCHANGE RATE CHANGES ON CASH AND CASH EQUIVALENTS | (13) | (13) | |||||||||
| Net change in cash and cash equivalents | 4,785 | 3,930 | |||||||||
| CASH AND CASH EQUIVALENTS BEGINNING OF YEAR | 14,161 | 9,906 | |||||||||
| CASH AND CASH EQUIVALENTS END OF PERIOD | $ | 18,946 | $ | 13,836 | |||||||
