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COSTCO WHOLESALE ANNOUNCES FISCAL 1992 RESULTS

 COSTCO WHOLESALE ANNOUNCES FISCAL 1992 RESULTS
 KIRKLAND, Wash., Oct. 27 /PRNewswire/ -- Costco Wholesale Corp.


(NASDAQ-NMS: COST) today reported record sales and earnings for the company's 1992 fiscal year (52 weeks) and fourth quarter (16 weeks), both ended Aug. 30, 1992. Net sales for the fiscal year increased 25 percent to $6.500 billion from $5.215 billion the year earlier. Comparable warehouse sales increased 11 percent over the prior year. Net sales for the fourth quarter of fiscal 1992 increased 21 percent to $2.082 billion from $1.717 billion during the fiscal 1991 fourth quarter. Comparable warehouse sales during the fourth quarter increased 5 percent over the year-earlier period.
 During the first eight weeks of the company's first quarter of fiscal 1993, ended Oct. 25, 1992, sales were $1.069 billion, an increase of 22 percent from the year-earlier eight-week period. Comparable sales during this eight week period increased at a 6 percent annual rate. Sales for the four week period ended Oct. 25 were $541 million, an increase of 20 percent from $450 million in the same four-week period of the prior fiscal year. On a comparable warehouse basis, sales increased 5 percent during this latest four-week period.
 Net income during fiscal 1992 increased 34 percent to $113.3 million, or 93 cents per share, as compared to fiscal 1991 net income of $84.8 million, or 73 cents per share. All common share data have been adjusted to reflect the three-for-two stock split (50 percent stock dividend) effected March 6, 1992.
 Net income during the fourth quarter of fiscal 1992 increased 21 percent to $39.2 million, or 32 cents per share, compared to $32.4 million, or 27 cents per share during the fourth quarter of fiscal 1991.
 Costco ended its 1992 fiscal year on Aug. 30, 1992, with 89 cash- and-carry membership warehouses in 13 states and Western Canada. Since that time four new warehouses have been opened -- in Hawaii Kai, Hawaii; Edmonton, Alberta, Canada (a replacement unit); Tustin, Calif.; and Spokane, Wash. -- and eight additional warehouses are expected to open prior to calendar year end -- in Anchorage, Alaska; Kearney Mesa and Mountain View, Calif.; Edmonton, Alberta, Canada; Worcester, Mass.; Portsmouth, N.H.; and in North Miami and Miami Lakes, Fla. These openings will bring to 100 the total number of warehouses in operation by calendar year-end. Expansion plans for the second half of fiscal 1993 include the anticipated opening of 8 to 10 additional warehouse locations.
 The company's common stock trades on the NASDAQ National Market System under the ticker symbol, "COST."
 COSTCO WHOLESALE CORP.
 FOURTH QUARTER AND FISCAL YEAR 1992 OPERATING RESULTS
 (Dollars in thousands except E.P.S. calculation)
 Fourth Quarter Fiscal Year
 16 Weeks 16 Weeks 52 Weeks 52 Weeks
 Ended Ended Ended Ended
 08/30/92 09/01/91 08/30/92 09/01/91
 Net sales $2,081,852 $1,716,664 $6,500,193 $5,215,456
 Membership and other 35,442 26,913 120,570 89,684
 Total revenue 2,117,294 1,743,577 6,620,763 5,305,140
 Merchandise costs 1,886,585 1,554,263 5,897,586 4,738,369
 Gross profit 230,709 189,314 723,177 566,771
 Selling, general
 and administrative
 expenses 164,553 136,372 525,607 422,826
 Preopening expenses 3,171 2,299 12,455 6,203
 Provision for estimated
 warehouse closing costs 1,000 1,500 1,000 1,500
 Operating income 61,985 49,143 184,115 136,242
 Other income (expense):
 Interest expense (5,734) (120) (7,236) (4,913)
 Interest income 4,135 3,802 8,192 7,308
 Gain on sale of land 0 0 0 3,198
 Other 209 (272) 658 (495)
 Income before
 income taxes 60,595 52,553 185,729 141,340
 Provision for income
 taxes 21,423 20,148 72,434 56,552
 Net income $ 39,172 $ 32,405 $ 113,295 $ 84,788
 Net Income per Common
 and Common Equivalent
 Share:
 Primary $ 0.32 $ 0.27 $ 0.93 $ 0.74
 Fully diluted $ 0.32 $ 0.27 $ 0.93 $ 0.73
 Number of Shares
 Used in E.P.S.
 Calculation (000):
 Primary 121,731 121,109 122,174 114,950
 Fully diluted 121,731 121,364 122,227 115,887
 NOTE: Shares outstanding and per-share data have been adjusted for the two-for-one stock split which was effective April 30, 1991, and the three-for-two stock split, which was effective March 6, 1992.
 -0- 10/27/92
 /CONTACT: Richard Galanti of Costco Wholesale, 206-828-8100, ext. 203/
 (COST) CO: Costco Wholesale Corp. ST: Washington IN: REA SU: ERN


LM -- SE002 -- 5157 10/27/92 07:51 EST
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