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Craig Jelinek, President and CEO of Costco Wholesale Corporation, Issued the Following Statement Today:

Date : 11/20/2012 @ 4:54AM
Source : Marketwired
Stock : Costco Wholesale Corp. (MM) (COST)
Quote : 130.45  -0.14 (-0.11%) @ 5:40AM
Costco Wholesale Corp. (MM) share price Chart

Craig Jelinek, President and CEO of Costco Wholesale Corporation, Issued the Following Statement Today:

Costco Wholesale Corp. (MM) (NASDAQ:COST)
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Craig Jelinek, President and CEO of Costco Wholesale Corporation ("Costco" or the "Company") (NASDAQ: COST) issued the following statement today:

I received a phone call on Saturday from President Obama, as part of the Administration's outreach to the business community to discuss current economic conditions and fiscal policy issues. I expressed strong support for the President's efforts to reach a compromise with Congress before the end of the year that avoids any tax increase on middle class taxpayers. Costco employs over 115,000 workers in the U.S., most of whom are middle class family wage earners. Likewise, the small businesses that make up the bulk of our business members employ thousands of working people who have borne the brunt of the recession. Now, with signs pointing to a modest economic recovery, it would be a particular burden on those working families to face higher income taxes. I encouraged the President to continue working with Congressional leadership to find a balanced solution to the deficit that will avoid middle class tax increases. It is imperative that both sides of the "aisle" compromise... to eliminate uncertainty, and allow for continued economic recovery.

Costco currently operates 617 warehouses, including 447 in the United States and Puerto Rico, 83 in Canada, 32 in Mexico, 22 in the United Kingdom, 13 in Japan, nine in Taiwan, eight in Korea and three in Australia. The Company plans to open up to five additional warehouses prior to the end of calendar year 2012. Costco also operates electronic commerce web sites, at www.costco.com (U.S.), www.costco.ca (Canada), and www.costco.co.uk (United Kingdom).

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. 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.

CONTACTS: Costco Wholesale Corporation Joel Benoliel 425/313-8193 Richard Galanti 425/313-8203 Bob Nelson 425/313-8255



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