Costco Wholesale Corporation: 10-K Risk Factor Changes

The following graph compares the cumulative total shareholder return assuming reinvestment of dividends on an investment of $100 in Costco common stock, S&P 500 Index, and the S&P Retail Select Index over the five years from August 30, 2020, through August 31, 2025. The S&P Retail Select Index comprises stocks in the S&P Total Market Index that are classified in the GICS Apparel Retail, Automotive Retail, Broadline Retail, Computer & Electronic Retail, Consumer Staples Merchandise Retail, Drug Retail, Food Retailers and Other Specialty Retail sub-industries. 21 21 21 21 21 21 Table of Contents Table of Contents Table of Contents The following graph provides information concerning average sales per warehouse over a 10-year period. Average Sales Per Warehouse*(Sales In Millions)Year Opened# of Whses202524$192 202429$170 192 202323$151 166 186 202223$150 158 179 201 202120$140 158 172 187 210 202013$132 152 184 193 215 240 201920$129 138 172 208 216 226 242 201821$116 119 141 172 202 214 231 245 201726$121 142 158 176 206 237 247 262 277 2016 & Before715$159 165 179 186 197 223 254 263 274 287 Totals914$159 $163 $176 $182 $192 $217 $245 $252 $260 $272 2016201720182019202020212022202320242025Fiscal Year*First year sales annualized.2017 and 2023 were 53-week fiscal years but have been normalized for purposes of comparability.