Costco Wholesale Corporation (COST) Q3 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

followed by the number 1 on your telephone keypad. If you would like to withdraw your question, press star 1 a second time. Thank you. And I would now like to turn the conference over to Gary Millership, Chief Financial Officer. You may begin. Good afternoon, everyone, and thank you for joining Costco's third quarter 2025 earnings call. I'd like to start by reminding you that these discussions will include forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements involve risks and uncertainties that may cause actual events, results, and or performance to differ materially from those indicated by such statements. The risks and uncertainties include, but are not limited to, those outlined in today's call, as well as other risks identified from time to time in the company's public statements and reports filed with the SEC. 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 intended as substitutes for net sales presented in accordance with GAAP. Before we dive into our financial results, I'm delighted to say that Ron Vakris is joining us again for today's call. I'll now hand over to Ron for some opening comments. Thank you, Gary, and good afternoon, everyone, and thank you for joining us today. As we wrap up the third quarter of fiscal 2025, let me make a few brief comments on some of the highlights. Since our last earning call, we've opened nine warehouses, including Relocation in Melbourne, Australia, our 37th warehouse in Japan, and seven net n...