Costco Wholesale Corporation Election of New Chairman

We are very proud to announce that Ink has signed a new partnership with the UK’s iconic challenger airline Virgin Atlantic, where we will revamp its inflight magazine Vera, as well as represent all media sales. From September, we will create an upgraded magazine for Virgin Atlantic’s loyal customers, with a complete relaunch in October. The new Vera will be a dazzling entertainment and travel magazine, that cleverly connects the onboard entertainment offering with original destination tips from across Virgin Atlantic’s global network. Mark Anderson, Executive Vice President, Customer at Virgin Atlantic said: “Offering our customers a unique and memorable experience is absolutely key to us at Virgin Atlantic; so we are delighted to be working with Ink’s expert team to give our inflight magazine a total makeover. Expect a new and exciting travel and entertainment magazine from October 2017.” Click Read More below for more of the story.

During the first quarter of 2018, we adopted ASU No. 2014-09, Revenue from Contracts with Customers (Topic 606). As a result of the new accounting standard, income relating to our credit card program and gift card breakage that previously offset selling, general and administrative (“SG&A”) expenses has been recorded in other revenue in the Condensed Consolidated Statements of Income for all periods presented. The increase in other revenue for the first quarter of 2018 is the result of higher penetration from our growing credit card program. Gross profit for the first quarter of 2018 was $96.1 million or 29.4 percent of sales compared to $95.6 million or 28.3 percent of sales in 2017. Click Read More below for additional information.

Costco Wholesale Corporation reported net sales of $15.67 billion for the retail month of November, the four weeks ended November 29, 2020, an increase of 15.1 percent from $13.62 billion last year. For the twelve-week first quarter ended November 22, 2020, the Company reported net sales of $42.35 billion, an increase of 16.9 percent from $36.24 billion last year. For the thirteen weeks ended November 29, 2020, the Company reported net sales of $46.33 billion, an increase of 16.0 percent from $39.95 billion during the similar period last year.