Costco Wholesale — Sep 25, 2025 release

Exhibit 99.1 Press Release COSTCO WHOLESALE CORPORATION REPORTS FOURTH QUARTER AND FISCAL YEAR 2025 OPERATING RESULTS ISSAQUAH, Wash., September 25, 2025 - Costco Wholesale Corporation (“Costco” or the “Company”) (Nasdaq: COST) today announced its operating results for the 16-week fourth quarter and the 52-week fiscal year ended August 31, 2025. Net sales for the quarter increased 8.0 percent, to $84.4 billion, from $78.2 billion last year. Net sales for the fiscal year increased 8.1 percent, to $269.9 billion, from $249.6 billion last year. Comparable sales for the fourth quarter and fiscal year were as follows: 16 Weeks 16 Weeks 52 Weeks 52 Weeks Adjusted* Adjusted* U.S. 5.1% 6.0% 6.2% 7.3% Canada 6.3% 8.3% 5.0% 8.3% Other International 8.6% 7.2% 4.8% 8.2% Total Company 5.7% 6.4% 5.9% 7.6% E-commerce 13.6% 13.5% 15.6% 16.1% *Excluding the impacts from changes in gasoline prices and foreign exchange. Net income for the fourth quarter was $2.610 billion, $5.87 per diluted share, compared to $2.354 billion, $5.29 per diluted share, last year. Last year's results included a net non-recurring tax benefit of $63 million, $0.14 per diluted share, related to a transfer pricing settlement, and true-ups of tax reserves. Net income for the fiscal year was $8.099 billion, $18.21 per diluted share, compared to $7.367 billion, $16.56 per diluted share, last year. Costco currently operates 914 warehouses, including 629 in the United States and Puerto Rico, 110 in Canada, 42 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, two 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, and Australia. A conference call to discuss these results is scheduled for 2:00 p.m. (PT) today, September 25, 2025, and will be available via a webcast on investor.costco.com (click “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), 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 COST-Earn Press Release COSTCO WHOLESALE CORPORATION CONSOLIDATED STATEMENTS OF INCOME  (dollars in millions, except per share data) (unaudited) 16 Weeks Ended 52 Weeks Ended August 31, 2025 September 1, 2024 August 31, 2025 September 1, 2024 REVENUE Net sales $ 84,432  $ 78,185  $ 269,912  $ 249,625  Membership fees 1,724  1,512  5,323  4,828  Total revenue 86,156  79,697  275,235  254,453  OPERATING EXPENSES Merchandise costs 75,037  69,588  239,886  222,358  Selling, general and administrative 7,778  7,067  24,966  22,810  Operating income 3,341  3,042  10,383  9,285  OTHER INCOME (EXPENSE) Interest expense (46) (49) (154) (169) Interest income and other, net 215  120  589  624  INCOME BEFORE INCOME TAXES 3,510  3,113  10,818  9,740  Provision for income taxes 900  759  2,719  2,373  NET INCOME $ 2,610  $ 2,354  $ 8,099  $ 7,367  NET INCOME PER COMMON SHARE: Basic $ 5.88  $ 5.30  $ 18.24  $ 16.59  Diluted $ 5.87  $ 5.29  $ 18.21  $ 16.56  Shares used in calculation (000's): Basic 444,007  444,013  443,985  443,914  Diluted 444,706  444,977  444,803  444,759  Press Release COSTCO WHOLESALE CORPORATION CONSOLIDATED BALANCE SHEETS  (amounts in millions, except par value and share data) (unaudited) Subject to Reclassification August 31, 2025 September 1, 2024 ASSETS CURRENT ASSETS Cash and cash equivalents $ 14,161  $ 9,906  Short-term investments 1,123  1,238  Receivables, net 3,203  2,721  Merchandise inventories 18,116  18,647  Other current assets 1,777  1,734  Total current assets 38,380  34,246  OTHER ASSETS Property and equipment, net 31,909  29,032  Operating lease right-of-use assets 2,725  2,617  Other long-term assets 4,085  3,936  TOTAL ASSETS $ 77,099  $ 69,831  LIABILITIES AND EQUITY CURRENT LIABILITIES Accounts payable $ 19,783  $ 19,421  Accrued salaries and benefits 5,205  4,794  Accrued member rewards 2,677  2,435  Deferred membership fees 2,854  2,501  Other current liabilities 6,589  6,313  Total current liabilities 37,108  35,464  OTHER LIABILITIES Long-term debt, excluding current portion 5,713  5,794  Long-term operating lease liabilities 2,460  2,375  Other long-term liabilities 2,654  2,576  TOTAL LIABILITIES 47,935  46,209  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; 443,237,000 and 443,126,000 shares issued and outstanding 2  2  Additional paid-in capital 8,282  7,829  Accumulated other comprehensive loss (1,770) (1,828) Retained earnings 22,650  17,619  TOTAL EQUITY 29,164  23,622  TOTAL LIABILITIES AND EQUITY $ 77,099  $ 69,831  Press Release COSTCO WHOLESALE CORPORATION CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS  (amounts in millions) (unaudited) Subject to Reclassification 52 Weeks Ended August 31, 2025 September 1, 2024 CASH FLOWS FROM OPERATING ACTIVITIES Net income $ 8,099  $ 7,367  Adjustments to reconcile net income to net cash provided by operating activities: Depreciation and amortization 2,426  2,237  Non-cash lease expense 303  315  Stock-based compensation 860  818  Other non-cash operating activities, net (117) (9) Changes in working capital 1,764  611  Net cash provided by operating activities 13,335  11,339  CASH FLOWS FROM INVESTING ACTIVITIES Purchases of short-term investments (1,028) (1,470) Maturities of short-term investments 1,141  1,790  Additions to property and equipment (5,498) (4,710) Other investing activities, net 74  (19) Net cash used in investing activities (5,311) (4,409) CASH FLOWS FROM FINANCING ACTIVITIES Repayments of short-term borrowings (862) (920) Proceeds from short-term borrowings 816  928  Repayments of long-term debt (103) (1,077) Proceeds from issuance of long-term debt —  498  Tax withholdings on stock-based awards (393) (315) Repurchases of common stock (903) (700) Cash dividend payments (2,183) (9,041) Financing lease payments and other financing activities, net (147) (137) Net cash used in financing activities (3,775) (10,764) EFFECT OF EXCHANGE RATE CHANGES ON CASH AND CASH EQUIVALENTS 6  40  Net change in cash and cash equivalents 4,255  (3,794) CASH AND CASH EQUIVALENTS BEGINNING OF YEAR 9,906  13,700  CASH AND CASH EQUIVALENTS END OF YEAR $ 14,161  $ 9,906