Costco Wholesale Corporation Reports November Sales Results

With all but one category posting increases, unit sales of print books rose 8% in the week ended Aug. 22, 2020, over the comparable week in 2019 at outlets that report to NPD BookScan. Stephenie Meyer’s Midnight Sun, which sold nearly 59,000 copies in the week, continued to drive sales in the YA fiction segment, where print units rose 27.8% over the week ended Aug. 24, 2019. The YA nonfiction category had a 40.6% jump in sales, with Stamped by Jason Reynolds and Ibram X. Kendi remaining in first place in the category, selling more than 12,000 copies. Big Preschool Workbook stayed #1 in juvenile nonfiction, selling more than 34,000 copies and helping to drive up print unit sales up 36.3% over 2019.

A summary of results for the second quarter ended July 30, 2022 as compared to the second quarter ended July 31, 2021: *Net sales of $805 million, down 7% as compared to last year on a reported basis and down 4% on a constant currency basis. *Gross profit rate of 57.9%, down approximately 730 basis points as compared to last year. The year-over-year decrease was primarily driven by higher product costs, which contributed 750 basis points, and the adverse impact of exchange rates, which accounted for 30 basis points. These impacts where partially offset by higher AUR at Abercrombie. *Operating expense, excluding other operating income, net, was up 4% compared to last year. The increase was driven primarily by inflation and higher digital fulfillment expenses partially offset by lower incentive-based compensation. Operating expense as a percentage of sales increased to 58.0% from 52.1% last year. *Operating loss of $2 million and $0 million on a reported and adjusted non-GAAP basis, respectively, as compared to operating income of $115 million and $116 million last year, on a reported and adjusted non-GAAP basis, respectively.

The United States Postal Service filed notice with the Postal Regulatory Commission (PRC) of price changes to take effect Jan. 21, 2018. The new prices, if approved, include a one cent increase in the price of a First-Class Mail Forever stamp from 49 cents to 50 cents. Postcard stamps and metered letters would also have a one cent increase. Today’s filing does not include any price change for single-piece letters being mailed to international destinations or for additional ounces for letters. The proposed prices would raise Mailing Services product prices approximately 1.9 percent, and most Shipping Services products will average a 3.9 percent price increase. While Mailing Services price increases are limited based on the Consumer Price Index (CPI), Shipping Services prices are adjusted strategically, according to market conditions and the need to maintain affordable services for customers. Click Read More below for additional detail.