Craig Jelinek, President and CEO of Costco Wholesale Corporation, Issued the Following Statement Today:
November 19 2012 - 6:24PM
Marketwired
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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