Content about Costco Wholesale Corp.

March 10, 2014

Costco Wholesale Corp. is reportedly attempting to draw in younger customers.

Issaquah, Wash. – Costco Wholesale Corp. is reportedly attempting to draw in younger customers. According to The Seattle Times, after recently missing quarterly earnings estimates, Costco is taking active steps to attract a younger shopper demographic.

These steps include piloting a same-day delivery service with Google in San Francisco, building up its social and online efforts, and increasing its offerings of organic products such as kale.

March 6, 2014

Costco Wholesale Corp. reported a bigger-than-expected 15% drop in net income for the second quarter amid deep-discounting during the holidays.

Issaquah, Wash. – Costco Wholesale Corp. reported a bigger-than-expected 15% drop in net income for the second quarter amid deep-discounting during the holidays. Net income in the quarter ended Feb. 16 fell to $463 million from $547 million.   
 
Costco blamed the lower earnings on several factors, including weaker sales of certain nonfoods merchandise categories and lower international profits. The year-ago period was also helped by a tax benefit.
 

December 11, 2013

Costco Wholesale Corp. increased profit and sales during the first quarter of fiscal 2014 that missed Wall Street expectations hurt by a 5.5% rise in operating expenses, lower gasoline prices, and weak foreign currencies.

Issaquah, Wash. – Costco Wholesale Corp. increased profit and sales during the first quarter of fiscal 2014 that missed Wall Street expectations hurt by a 5.5% rise in operating expenses, lower gasoline prices, and weak foreign currencies.
Profit rose 2% $425 million, from $416 million a year earlier.

Net sales rose 5% to $24.47, missing estimates of $25.4 million.

December 5, 2013

Costco Wholesale Corp.'s November same-store sales missed analysts' expectations, hurt by lower gasoline prices and weak foreign currencies.

Issaquah, Wash. -- Costco Wholesale Corp's November same-store sales missed analysts' expectations, hurt by lower gasoline prices and weak foreign currencies.

Same-store sales were up 2% in the four weeks ended Dec. 1, including the impact of fuel sales and foreign exchange, short of the 3% gain analysts expected.

November net sales rose 5% to $8.78 billion.

Excluding the negative impact of foreign exchange and falling gasoline prices, same-store sales rose 4%.

October 17, 2013

Costco Wholesale Corporation is reportedly cooperating with the U.S, Drug Enforcement Administration (DEA) in an ongoing investigation of prescriptions for controlled substances.

Issaquah, Wash. – Costco Wholesale Corporation is reportedly cooperating with the U.S, Drug Enforcement Administration (DEA) in an ongoing investigation of prescriptions for controlled substances. According to Reuters, the DEA served Costco with warrants and subpoenas related to the investigation.

Costco announced its cooperation in an SEC filing and has made no other public comment. The DEA has been investigating pharmacy chains and distributors across the country in regard to prescription drug misuse and abuse.

 

September 5, 2013

Although back-to-school sales were expectedly sluggish, retail sales for the month of August benefited from a late boost in store traffic.

New York -- Although back-to-school sales were expectedly sluggish, retail sales for the month of August benefited from a late boost in store traffic.

Of the retailers still reporting monthly sales – most so far are reporting slight increases in August same-store sales. Retail Metrics forecast an overall August gain of 3.2% year-over-year; retail sales advanced 3.3% during the same period last year.

Costco Wholesale Corp. reported a same-store sales rise of 4% in August, surpassing a forecast 3.8% gain.

May 31, 2013

Costco Wholesale Corp. is looking to open approximately 150 locations over the next five years, CFO Richard Galanti said on the company’s quarterly conference call with investors.

NEW YORK — Costco Wholesale Corp. is looking to open approximately 150 locations over the next five years, CFO Richard Galanti said on the company’s quarterly conference call with investors.

“And if we get a little better than that, great,” he added. “But that’s certainly a good starting point given where we’ve come over the last few years.”

Of the total, about 55 of the new units would be in the United States, with the rest located in Canada or foreign markets.

April 11, 2013

Costco Wholesale Corp reported a 4% rise in same-store sales, missing analysts' expectations for a 5.2% increase.

Issaquah, Wash. -- Costco Wholesale Corp reported a 4% rise in same-store sales, missing analysts' expectations for a 5.2% increase. The company said its results were negatively impacted by lower fuel prices and a strong dollar, which hurt the value of its sales overseas.

Net sales at Costco rose 7%to $9.67 billion for the five-week period ended April 7.

 

April 2, 2013

Digimarc Corp. announced that Costco Wholesale Corp. is using the Digimarc Discover Intuitive Computing Platform (ICP) to embed transparent digital watermarks in editorial and advertising content connected with The Costco Connection starting with the April issue.

Beaverton, Ore. -- Digimarc Corp. announced that Costco Wholesale Corp. is using the Digimarc Discover Intuitive Computing Platform (ICP) to embed transparent digital watermarks in editorial and advertising content connected with The Costco Connection starting with the April issue.

March 15, 2013

Costco Wholesale Corp. will expand its Issaquah, Wash., headquarters, according to published reports.

New York -- Costco Wholesale Corp. will expand its Issaquah, Wash., headquarters, according to published reports on Friday.

The Seattle Daily Journal of Commerce reported Friday that Issaquah's director of economic development, Keith Niven, said the club retailer would expand the headquarters to take up as much as 1.5 million sq. ft.

The Tacoma, Wash., News Tribune reported that the company currently takes up three buildings that are full.

March 12, 2013

Costco Wholesale Corp posted a better-than expected 39% increase in quarterly profit, helped by increasing sales and a rise in membership fees.

Issaquah, Wash. -- Costco Wholesale Corp posted a better-than expected 39% increase in quarterly profit, helped by increasing sales and a rise in membership fees.

Net income was $547 million in the fiscal second quarter ended on Feb. 17, compared with $394 million a year ago.

March 12, 2013

Costco Wholesale Corp.’s winning streak continues as the chain reported a better-than-expected 39% increase in profits for its fiscal second quarter.

Costco Wholesale Corp.’s winning streak continues as the chain reported a better-than-expected 39% increase in profits for its fiscal second quarter. Here is Planet Retail’s take on the company’s most recent performance and future prospects:
 

February 14, 2013

Tiffany & Co. has filed suit against Costco Wholesale Corp., alleging alleges trademark infringement, dilution, counterfeiting, unfair competition, injury to business reputation, false and deceptive business practices and false advertising.

New York -- Tiffany & Co. has filed suit against Costco Wholesale Corp., alleging alleges trademark infringement, dilution, counterfeiting, unfair competition, injury to business reputation, false and deceptive business practices and false advertising. Tiffany said it filed the suit “to prevent further sales of counterfeit diamond engagement rings and for damages associated with prior sales.”

January 10, 2013

Consumer electronics recycler E-World Online said that it has teamed with Costco Wholesale Corp. on the launch of a national program to make managing merchandise returns more sustainable.

Vista, Calif. -- Consumer electronics recycler E-World Online said Wednesday that it has teamed with Costco Wholesale Corp. on the launch of a national program to make managing merchandise returns more sustainable.

E-World Online’s Retail Return Program will track returned merchandise and find markets for reusable or recyclable products. Costco has implemented, trained and deployed E-World Online’s RRP program in all of its U.S. warehouses, making it the largest such retail return program, according to E-World Online.

December 12, 2012

Costco Wholesale Corp. reported that net income for the quarter ended Nov. 25 rose 30% to $416 million, compared with $320 million in the year-ago period and surpassing analysts’ forecasts.

Issaquah, Wash. -- Costco Wholesale Corp. reported Wednesday that net income for the quarter ended Nov. 25 rose 30% to $416 million, compared with $320 million in the year-ago period and surpassing analysts’ forecasts.

Sales increased 9.6% to $23.71 billion from $21.2 billion, beating Wall Street’s estimated $22.11 in revenue. Same-store sales increased 6% domestically and 7% internationally, excluding fuel sales and foreign exchange effects.

November 30, 2012

Amazon and Costco lead the pack lead the pack when it comes to the e-tailers that have most satisfied their customers, according to the 2012 Harris Poll Shopper Satisfaction Study of Online Retailers.

New York -- Amazon and Costco lead the pack lead the pack when it comes to the e-tailers that have most satisfied their customers, according to the "2012 Harris Poll Shopper Satisfaction Study of Online Retailers." The survey used a 100-point scale to measure customer satisfaction with the e-commerce sites of 14 big retailers. Amazon.com ranked first with a score of 82.

November 28, 2012

Costco Wholesale Corp. said it will pay a special dividend worth some $3.0 billion to investors, sending cash to its shareholders ahead of a likely increase in the dividend tax.

Issaquah, Wash. -- Costco Wholesale Corp. on Wednesday said it will pay a special dividend worth some $3.0 billion to investors, sending cash to its shareholders ahead of a likely increase in the dividend tax. The chain also posted monthly same-store sales that beat analysts' expectations.

“Our strong balance sheet and favorable access to the credit markets allow us to provide shareholders with this dividend,” Costco CFO Richard Galanti said in a statement.

October 10, 2012

Costco Wholesale Corp. reported that net income for the quarter ended Sept. 2 jumped 27% to $609 million, from $478 million in the year-ago period.

Issaquah, Wash. -- Costco Wholesale Corp. reported Wednesday that net income for the quarter ended Sept. 2 jumped 27% to $609 million, from $478 million in the year-ago period. The warehouse club operator credited strong sales and higher member fees for the improved profit performance.

Sales climbed 14% to $31.52 billion, and same-store sales rose 5%. Membership fee revenue rose 18% to $694 million. The company said it plans to open up to 14 new warehouses before the end of calendar year 2012.

October 4, 2012

Costco Wholesale Corp. reported a better-than-expected 6% rise in September same-store sales, helped by higher gasoline prices and a stronger dollar.

New York -- Costco Wholesale Corp. reported a better-than-expected 6% rise in September same-store sales, helped by higher gasoline prices and a stronger dollar. Excluding the impact of gasoline prices and foreign exchange, comparable September same-store sales rose 5%.

Net sales rose 8% to $9.31 billion in the five weeks ended Sept. 30. Costco, which currently operates 608 warehouses, said it plans to open up to 14 new warehouses prior to the end of calendar year 2012.

September 26, 2012

A U.S. judge in San Francisco has certified a class-action lawsuit against Costco Wholesale Corp. that involved allegations of gender discrimination in the store's promotion practices.

New York -- A U.S. judge in San Francisco has certified a class-action lawsuit against Costco Wholesale Corp. that involved allegations of gender discrimination in the store's promotion practices.

“Costco offers numerous competing explanations for the observed gender disparity in promotions,” U.S. District Judge Edward Chen said in the ruling, Bloomberg reported. “None of these explanations undermine the companywide nature of the challenged policies and their disparate effects.”

September 21, 2012

Amazon.com, Trader Joe’s and Costco Wholesale Corp. came out on top with consumers in a survey by global consulting firm OC&C Strategy Consultants. Rounding out the top five were Zappos and iTunes.

September 12, 2012

The nation’s chain retailers lead the nation when it comes to commercial solar energy use, according to a report released by the Solar Energy Industries Association and Vote Solar Initiative advocacy group.

Orlando, Fla. -- The nation’s chain retailers lead the nation when it comes to commercial solar energy use, according to a report by the Solar Energy Industries Association and Vote Solar Initiative advocacy group.

August 30, 2012

Discounters reported strong-than-expected sales for August, fueled by back-to-school shopping, promotions and cooler weather in the Northeast.

New York -- Discounters reported strong-than-expected sales for August, fueled by back-to-school shopping, promotions and cooler weather in the Northeast.

Costco Wholesale Corp.'s same-store sales in August rose 6%, beating the 4.5% rise analysts had projected.

Target Corp. reported a 4.2% increase in same-store sales, better than the 3.1% increase that analysts had expected.

August 30, 2012

Macy's, Limited Brands and Gap Inc. all posted August same-store sales that topped analysts' estimates as retailers across the board generally posted strong sales, boosted by back-to-school shopping and aggressive promotions.

New York -- Macy's, Limited Brands and Gap Inc. all posted August same-store sales that topped analysts' estimates as retailers across the board generally posted strong sales, boosted by back-to-school shopping and aggressive promotions. The strong showing comes shortly after the news that consumer confidence for August slumped to its lowest level of the year.

August 23, 2012

Amazon.com, Trader Joe’s and Costco Wholesale Corp. came out on top with consumers in a survey by global strategy firm OC&C Strategy Consultants, Boston.

New York - Amazon.com, Trader Joe’s and Costco Wholesale Corp. came out on top with consumers in a survey by global strategy firm OC&C Strategy Consultants, Boston. Rounding out the top five were Zappos and iTunes.