Costco Wholesale Corporation Reports August Sales Results

*Operating cash flow decreased 41% to $39.3 billion for the trailing twelve months, compared with $67.2 billion for the trailing twelve months ended March 31, 2021. *Free cash flow decreased to an outflow of $18.6 billion for the trailing twelve months, compared with an inflow of $26.4 billion for the trailing twelve months ended March 31, 2021. *Free cash flow less principal repayments of finance leases and financing obligations decreased to an outflow of $29.3 billion for the trailing twelve months, compared with an inflow of $14.9 billion for the trailing twelve months ended March 31, 2021. *Free cash flow less equipment finance leases and principal repayments of all other finance leases and financing obligations decreased to an outflow of $22.3 billion for the trailing twelve months, compared with an inflow of $16.8 billion for the trailing twelve months ended March 31, 2021. *Common shares outstanding plus shares underlying stock-based awards totaled 523 million on March 31, 2022, compared with 519 million one year ago. *Net sales increased 7% to $116.4 billion in the first quarter, compared with $108.5 billion in first quarter 2021. Excluding the $1.8 billion unfavorable impact from year-over-year changes in foreign exchange rates throughout the quarter, net sales increased 9% compared with first quarter 2021. *Net loss was $3.8 billion in the first quarter, or $7.56 per diluted share, compared with net income of $8.1 billion, or $15.79 per diluted share, in first quarter 2021. First quarter 2022 net loss includes a pre-tax valuation loss of $7.6 billion included in non-operating expense from our common stock investment in Rivian Automotive, Inc.

ACMA has made the difficult decision to cancel our in-person Forum for 2020 altogether. Instead, we will hold a virtual event culminating in a virtual fly-in with lawmakers in September. The Zoom-based event will run for two 45-minute sessions, first starting at 1:00 pm (EDT), then following a short break, the second one at 2:00 pm each Wednesday of the month – September 9th, 16th, and 23rd - for a total of six separate sessions. Then the fly-in will take place all day on September 30th on a rotating schedule to be announced. What To Expect...You can expect us to focus on the many moving policy issues that have direct bearing on catalog/online/DM interests: among them, postal affairs, sales tax developments, privacy law, trade and tariffs, and extra-jurisdictional (foreign) regulation. A full agenda and registration details will be made available shortly. In the meantime, we wanted to ask you to reserve these times on your schedule. Both member and non-member companies are invited to attend. Our generous sponsors have made this event possible in order to ensure that all of our attendees can be brought up to speed on the important work of the ACMA, so there will be no registration fee, although tax deductible (to 80%) donations are gratefully accepted.

FY24 first quarter service performance scores covering October 1 through November 24, included: *First-Class Mail: 87.5 percent of First-Class Mail delivered on time against the USPS service standard, a decrease of 3.6 percentage points from the fiscal fourth quarter. *Marketing Mail: 94.2 percent of Marketing Mail delivered on time against the USPS service standard, a decrease of 1.1 percentage points from the fiscal fourth quarter. *Periodicals: 84.2 percent of Periodicals delivered on time against the USPS service standard, a decrease of 1.8 percentage points from the fiscal fourth quarter.