Costco Wholesale — Dec 11, 2025 release

Exhibit 99.1 Press Release COSTCO WHOLESALE CORPORATION REPORTS FIRST QUARTER FISCAL YEAR 2026 OPERATING RESULTS ISSAQUAH, Wash., December 11, 2025 - Costco Wholesale Corporation (“Costco” or the “Company”) (Nasdaq: COST) today announced its operating results for the first quarter of fiscal 2026 (twelve weeks), ended November 23, 2025. Net sales for the first quarter increased 8.2 percent, to $65.98 billion, from $60.99 billion last year. Comparable sales for the first quarter fiscal 2026 were as follows: 12 Weeks 12 Weeks Adjusted* U.S. 5.9% 5.9% Canada 6.5% 9.0% Other International 8.8% 6.8% Total Company 6.4% 6.4% Digitally-Enabled 20.5% 20.5% *Excluding the impacts from changes in gasoline prices and foreign exchange. Net income for the quarter was $2,001 million, $4.50 per diluted share, compared to $1,798 million, $4.04 per diluted share, last year. This year’s results included a tax benefit of $72 million, $0.16 per diluted share, related to stock-based compensation, which last year was $100 million, $0.22 per diluted share. Costco currently operates 923 warehouses, including 633 in the United States and Puerto Rico, 114 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, 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 and Australia. A conference call to discuss these results is scheduled for 2:00 p.m. (PT) today, December 11, 2025, and is 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) 12 Weeks Ended November 23, 2025 November 24, 2024 REVENUE Net sales $ 65,978  $ 60,985  Membership fees 1,329  1,166  Total revenue 67,307  62,151  OPERATING EXPENSES Merchandise costs 58,510  54,109  Selling, general and administrative 6,334  5,846  Operating income 2,463  2,196  OTHER INCOME (EXPENSE) Interest expense (35) (37) Interest income and other, net 155  147  INCOME BEFORE INCOME TAXES 2,583  2,306  Provision for income taxes 582  508  NET INCOME $ 2,001  $ 1,798  NET INCOME PER COMMON SHARE: Basic $ 4.51  $ 4.05  Diluted $ 4.50  $ 4.04  Shares used in calculation (000’s): Basic 443,961  443,988  Diluted 444,515  444,891  Press Release COSTCO WHOLESALE CORPORATION CONSOLIDATED BALANCE SHEETS (amounts in millions, except par value and share data) (unaudited) Subject to Reclassification November 23, 2025 August 31, 2025 ASSETS CURRENT ASSETS Cash and cash equivalents $ 16,217  $ 14,161  Short-term investments 966  1,123  Receivables, net 3,231  3,203  Merchandise inventories 21,141  18,116  Other current assets 1,856  1,777  Total current assets 43,411  38,380  OTHER ASSETS Property and equipment, net 32,616  31,909  Operating lease right-of-use assets 2,730  2,725  Other long-term assets 4,033  4,085  TOTAL ASSETS $ 82,790  $ 77,099  LIABILITIES AND EQUITY CURRENT LIABILITIES Accounts payable $ 23,513  $ 19,783  Accrued salaries and benefits 5,172  5,205  Accrued member rewards 2,712  2,677  Deferred membership fees 2,990  2,854  Other current liabilities 7,418  6,589  Total current liabilities 41,805  37,108  OTHER LIABILITIES Long-term debt, excluding current portion 5,666  5,713  Long-term operating lease liabilities 2,436  2,460  Other long-term liabilities 2,580  2,654  TOTAL LIABILITIES 52,487  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; 443,919,000 and 443,237,000 shares issued and outstanding 2  2  Additional paid-in capital 8,408  8,282  Accumulated other comprehensive loss (1,976) (1,770) Retained earnings 23,869  22,650  TOTAL EQUITY 30,303  29,164  TOTAL LIABILITIES AND EQUITY $ 82,790  $ 77,099  Press Release COSTCO WHOLESALE CORPORATION CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (amounts in millions) (unaudited) Subject to Reclassification 12 Weeks Ended November 23, 2025 November 24, 2024 CASH FLOWS FROM OPERATING ACTIVITIES Net income $ 2,001  $ 1,798  Adjustments to reconcile net income to net cash provided by operating activities: Depreciation and amortization 597  548  Non-cash lease expense 75  72  Stock-based compensation 486  463  Other non-cash operating activities, net (5) (72) Changes in working capital 1,534  451  Net cash provided by operating activities 4,688  3,260  CASH FLOWS FROM INVESTING ACTIVITIES Additions to property and equipment (1,526) (1,264) Purchases of short-term investments (195) (247) Maturities of short-term investments 340  541  Other investing activities, net (17) (15) Net cash used in investing activities (1,398) (985) CASH FLOWS FROM FINANCING ACTIVITIES Repayments of short-term borrowings —  (194) Proceeds from short-term borrowings —  133  Tax withholdings on stock-based awards (357) (389) Repurchases of common stock (210) (207) Cash dividend payments (577) (515) Financing lease payments and other financing activities, net (23) (21) Net cash used in financing activities (1,167) (1,193) EFFECT OF EXCHANGE RATE CHANGES ON CASH AND CASH EQUIVALENTS (67) (81) Net change in cash and cash equivalents 2,056  1,001  CASH AND CASH EQUIVALENTS BEGINNING OF YEAR 14,161  9,906  CASH AND CASH EQUIVALENTS END OF PERIOD $ 16,217  $ 10,907