Costco Wholesale Corporation (NASDAQ:COST) Q2 2015 Earnings Conference Call - Final Transcript

Mar 05, 2015 • 11:00 am ET

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Costco Wholesale Corporation (NASDAQ:COST) Q2 2015 Earnings Conference Call - Final Transcript

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Executive
Richard Galanti

per share dividend which amounted to $2.2 billion that we paid out last on February 27, and in fact both dividends were paid to shareholders on February 27th. As I mentioned, we also completed a one -- to pay impart for the $2.2 billion special dividend, we did a $1 billion debt offering a few weeks back that $500 million of five-year fixed and $500 million of seven-year fixed at attractive market rates. Lastly just a couple of other items to note, the March comp sales reporting period for this year will include 34 selling days versus which is a day less than the 35 days last year, reflecting the calendar shift of the Easter holiday. And in addition beginning next month we will start reporting comp sales one day earlier than we have historically done so March comp sales will be announced on Wednesday, April 8th after the market close around 6 P.M. Pacific Time and 9 P.M. Eastern Time, hopefully that will help our East Coast friends and similarly our Q3 scheduled earnings release date will be Wednesday, May 27, for the 12 week third quarter ending May 10. Again the release will occur at 6 P.M. Pacific Time, 9 PM Eastern Time that Wednesday with the earnings conference call still occurring the following morning. Before I turn the call back to Brandy for Q&A, hopefully I have helped everyone understand some of the factors impacting the number. Overall, I think we had certainly the outsized gas profits helped, but there were lots of other little things that went the other way so overall still we felt pretty good a quarter and certainly strong sales membership renewal rates and alike. With that, I'll turn it back to Brandy for any Q&A. Thank you.