Costco Wholesale Corporation Reports First Quarter Fiscal Year 2023 Operating Results

Costco Wholesale Corporation (“Costco” or the “Company”) (Nasdaq: COST) today announced its operating results for the first quarter (twelve weeks) of fiscal 2023, ended November 20, 2022.

Net sales for the first quarter increased 8.1 percent, to $53.44 billion from $49.42 billion last year.

Net income for the quarter was $1,364 million, $3.07 per diluted share, compared to $1,324 million, $2.98 per diluted share, last year. This year’s results included a charge of $93 million pre-tax, $0.15 per diluted share, primarily related to downsizing our charter shipping activities, and a tax benefit of $53 million, $0.12 per diluted share, related to stock-based compensation. Last year’s results included a write-off of certain information technology assets of $118 million pre-tax, $0.20 per diluted share, and a tax benefit of $91 million, $0.21 per diluted share, related to stock-based compensation.
further details at: https://investor.costco.com/news/news-details/2022/Costco-Wholesale-Corporation-Reports-First-Quarter-Fiscal-Year-2023-Operating-Results/default.aspx

Related Posts

Pearson Response to Apollo Statement

Pearson notes the March 29, 2022 announcement from Apollo that it is no longer evaluating a possible cash offer for the Company and that it is consequently bound by the restrictions under Rule 2.8 of the City Code of Takeovers and Mergers. The Board of Pearson confirms that, on 28 March 2022, it received a third proposal from Apollo regarding a possible cash offer for the entire issued and to be issued share capital of the Company at 870 pence per share. Under Apollo's proposal, eligible Pearson shareholders would also be entitled to receive the previously announced FY 2021 dividend of 14.2 pence per share which, when taken together with the Proposal Price, represents a total value of 884.2 pence per share. The Third Proposal followed two previous proposals from Apollo which were unanimously rejected by the Board of Pearson, as detailed in Pearson's 11 March 2022 announcement.

Tilly’s, Inc. Announces First Quarter Operating Results

Fiscal 2022 First Quarter Operating Results Overview *Total net sales were $145.8 million, a decrease of $(17.4) million or (10.7)%, compared to a Company first quarter record of $163.2 million last year. Total comparable net sales, including both physical stores and e-commerce, decreased by (13.0)%. *Gross profit was $43.8 million, or 30.1% of net sales, compared to $54.8 million, or 33.6% of net sales, last year. *Operating income was $1.1 million, or 0.8% of net sales, compared to $14.9 million, or 9.1% of net sales, last year. *Net income was $0.8 million, or $0.03 per diluted share, compared to a Company first quarter record of $11.0 million, or $0.36 per diluted share, last year.

U.S. Consumer Time Spent With Media Fell For First Time In 2023 (mediapost.com)

The good news -- or bad news, depending on how you look at it -- is that consumer time spent with media continues to expand. The really bad news for the ad industry is that ad-supported media's share continues to decline, in both the U.S. and worldwide. Those are among the findings in the 2024 edition of an annual Global Consumer Media Usage Forecast released this morning by PQ Media. While total weekly time spent with media actually declined 0.4% to 76.69 hours in the U.S., and inched up only 0.3% to 56.15 hours worldwide, PQ forecasts it will rebound again this year and continue expanding for the foreseeable future.
Back To Top
×Close search
Search