Costco Wholesale Corporation Reports April Sales Results

In her keynote address opening the 50th Anniversary of National Postal Forum (NPF), Postmaster General and CEO Megan Brennan highlighted the Postal Service’s focus on meeting customer’s needs today, while anticipating their needs of tomorrow by continuing to invest in the future to create opportunities for growth and profitability for the entire industry. Brennan announced to thousands of customers at the Forum that nearly 10 million users are now enrolled in Informed Delivery, the Postal Service’s innovative daily mobile offering which allows users to see their incoming mail to be received later that day. “Informed Delivery broadens the definition of the mail moment by bridging the digital and physical – it allows consumers to connect to their physical mail anytime, anywhere,” said Brennan. “Informed Delivery is becoming part of the daily digital life of the American consumer. It builds anticipation of the physical mail piece, and allows marketers to increase their digital engagement with the consumer from a single mail piece.” Click Read More below for additional information.

Costco Wholesale Corporation announced its operating results for the third quarter (twelve weeks) and the first 36 weeks of fiscal 2023, ended May 7, 2023. Net sales for the quarter increased 1.9 percent, to $52.60 billion, from $51.61 billion last year. Net sales for the first 36 weeks increased 5.5 percent, to $160.28 billion, from $151.97 billion last year. Net income for the quarter was $1.30 billion, $2.93 per diluted share, which includes a non-recurring charge to merchandise costs of $298 million pretax, $0.50 per diluted share, primarily for the discontinuation of our charter shipping activities. Last year’s third quarter net income was $1.35 billion, $3.04 per diluted share, which included a non-recurring $77 million pretax charge, $0.13 per diluted share, for incremental employee benefits. Net income for the first 36 weeks was $4.13 billion, $9.30 per diluted share, compared to $3.98 billion, $8.94 per diluted share, last year.

Total reported sales for the third quarter of 2017 were $2.6 billion compared to $2.8 billion in the third quarter of 2016, a decrease of 8%. Third quarter sales include the negative impact on both the Retail and Business Solutions Divisions from hurricanes Harvey, Irma and Maria, which disrupted operations in Puerto Rico and the southeastern United States where a heavy concentration of customers are located. In the third quarter of 2017, Office Depot reported operating income of $108 million, net income from continuing operations of $98 million, or $0.19 per diluted share and total company net income of $92 million, or $0.17 per diluted share. Both net income from continuing operations and total company net income include a net tax credit of approximately $37 million associated with the reduction of the U.S. tax valuation allowance. Click Read More below for additional information.