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MERRILL CORPORATION NETWORK COMPOSITION SYSTEM LSTARKE // 9-DEC-98 19:50 DISK004:[98SEA7.98SEA2097]DE2097A.;7
IMAGES:[PAGER.PSTYLES]MRLL.BST;4 pag$fmt:mrll.fmt Free: 490DM/ 0D Foot: 0D/ 0D VJ R Seq: 1 Clr: 0
COSTCO COMPANIES A/R (Y/E 8-31-98) Proj: P1826SEA98 Job: 98SEA2097 File: DE2097A.;7
Merrill/Seattle (206) 623-5606 Page Dim: 8.250N X 10.750NCopy Dim: 38. X 54.3
FINANCIAL HIGHLIGHTS
1994 1995 1996 1997 1998
3,537
Discontinued Operations
Merger Costs
191**
–112
Discont’d Ops
217*
1995
$ Millions
Fiscal Year
Net Income/(Loss)
Selling, General and
Administrative Expenses
Percent of Net Sales
Percent Increase / (Decrease)
Fiscal Year
Comparable Sales Growth
1994 1995 1996 1997 1998
Gold Star Members___________________
1994 1995 1996 1997
3,000
3,200
3,400
3,800 Business Members___________________
Membership
0
* First year sales annualized.
Average Sales Per Warehouse*
(Sales In Millions)
Year
Opened
# of
Whses*
1989 1990 1991 1992 1993 1994 1995 1996 1997
$81
$81
$55
89
$83
$49
73
97
$86
$48
58
86
100
$84
$59
54
60
86
95
$78
$57
62
61
63
86
92
$76
$51
60
69
65
64
85
90
$75
$46
58
68
74
69
67
87
93
$77
1998
1997
1996
1995
1994
1993
1992
1991
1990
1989
Totals
17
10
18
19
27
34
26
20
18
89
278
& Before
3,435
1998
$50
70
61
76
83
84
80
77
99
107
$87
1998
Number of Warehouses
At Fiscal Year End
(285 at 12/31/98)
Warehouses In Operation
240
Thousands
0
221
1996
250
225
200
0
300
275
7,000
6,500
6,000
5,500
5,000
8,000
3,318
$56
53
69
76
79
75
71
93
100
$83
9,000
8.4%
8.8%
8.6%
9.0%
0
1997
1994
252 249*
7,500
8,500
3,600
1994 1995 1996 1997 1998
$ Millions
Fiscal Year
0
25,000
1994 1995 1996 1997 1998
Net Sales
16,161
21,484
17,906
1998
Fiscal Year
Fiscal Year
Fiscal Year
Fiscal Year
–5
0
15
10
5
134
261
19,214
24,000
23,000
22,000
21,000
20,000
19,000
18,000
17,000
16,000
100
0
1994 1995 1996 1997 1998
312*
7,845
6,088
6,683
7,076
3,228
50
150
200
250
300
350
500
-50
–100
–150
351***
Asset Impairment
*Income from continuing operations
**Income from continuing operations excluding merger costs
***Income from continuing operations excluding asset impairment charge
8.82%
8.74%
8.80%
8.69%
–3%
2%
5%
9%
8%
278
23,830
400
450 460*
3,676
8,654
111*
8.69%
1
9 C Cs: 56200