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Costco Wholesale Corporation Reports January Sales Results

Costco Wholesale Corporation (NASDAQ: COST) today reported net sales of $7.00 billion for the month of January, the four weeks ended January 29, 2012, an increase of 11 percent from $6.30 billion during the similar period last year.

For the first twenty-two-weeks of its reporting period ended January 29, 2012, the Company reported net sales of $40.18 billion, an increase of 11 percent from $36.08 billion during the similar period last year.

Comparable sales for these periods were as follows:

                                      4 Weeks 22 Weeks
                                     -------- --------

                      U.S.              9%       9%
                      International     6%       9%

                      Total Company     8%       9%
                                     ======== ========

Inflation in gasoline prices had a positive impact on comparable sales, particularly for the twenty-two-week period; foreign currencies had a negative impact for both periods. Excluding these effects, comparable sales for these periods were as follows:

                                      4 Weeks 22 Weeks
                                     -------- --------

                      U.S.              8%       6%
                      International     9%       10%

                      Total Company     8%       7%
                                     ======== ========

Additional discussion of these sales results is available in a pre-recorded telephone message. You can access the recording by dialing 1-855-859-2056 (conference ID 28260880). This message will be available today through 5:00 p.m. (PT) on Friday, February 3, 2012.

On February 29, 2012, the Company plans to report its operating results for the second quarter (12 weeks) and first half (24 weeks) of fiscal year 2012, ending February 12, 2012. The retail sales results for the month of February will also be announced on that date. A conference call to discuss these results is scheduled for 8:00am (PT) that day and will be available via web-cast on www.costco.com (Click on Investor Relations and "webcasts").

Costco currently operates 598 warehouses, including 433 in the United States and Puerto Rico, 82 in Canada, 32 in Mexico, 22 in the United Kingdom, 11 in Japan, eight in Taiwan, seven in Korea and three in Australia. The Company also operates Costco Online, an electronic commerce web site, at www.costco.com and at www.costco.ca in Canada. The Company plans to open up to an additional twelve new warehouses (including the relocation of a warehouse in Canada, and the reopening of the Tamasakai, Japan warehouse) prior to the end of its fiscal year on September 2, 2012.

Certain statements contained in this document and the pre-recorded telephone message 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. 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, the effects of competition and regulation, uncertainties in the financial markets, consumer and small business spending patterns and debt levels, conditions affecting the acquisition, development, ownership or use of real estate, actions of vendors, rising costs associated with employees (including health care costs), energy, and certain commodities, geopolitical conditions and other risks identified from time to time in the Company's public statements and reports filed with the Securities and Exchange Commission.