Costco Wholesale Corporation Reports Fourth Quarter and Fiscal Year 2020 Operating Results

Costco Wholesale Corporation (“Costco” or the “Company”) (Nasdaq: COST) today announced its operating results for the 16-week fourth quarter and the 52-week fiscal year, ended August 30, 2020.

Net sales for the quarter increased 12.5 percent, to $52.28 billion from $46.45 billion last year. Net sales for the fiscal year increased 9.3 percent, to $163.22 billion from $149.35 billion last year.

Net income for the fourth quarter was $1.389 billion, or $3.13 per diluted share, compared to $1.097 billion, or $2.47 per diluted share last year. This year’s fourth quarter was negatively impacted by incremental expense related to COVID-19 premium wages and sanitation costs of $281 million pretax ($0.47 per diluted share) and a $36 million pretax charge ($0.06 per diluted share) related to the prepayment of $1.5 billion of debt. These items were partially offset by an $84 million pretax benefit ($0.15 per diluted share) for the partial reversal of a reserve of $123 million pretax ($0.22 cents per diluted share), related to a product tax assessment taken in the fourth quarter of last year.

Net income for the fiscal year was $4.00 billion, or $9.02 per diluted share, compared to $3.66 billion, or $8.26 per diluted share in the prior year.
details at: https://investor.costco.com/news-releases/news-release-details/costco-wholesale-corporation-reports-fourth-quarter-and-12

Related Posts

AAP June 2020 StatShot Report: Publishing Industry Declines 4.1% for Month; 4.2% Year to Date

The Association of American Publishers (AAP) today released its StatShot report for June 2020 reflecting reported revenue for all tracked categories, including Trade (consumer publications), K-12 Instructional Materials, Higher Education Course Materials, Professional Publishing, and University Presses. Total revenues across all categories for June 2020 were approximately $1.4 billion, a decline of 4.1% as compared to June 2019. Year-to-date sales were $5.7 billion, a decline of 4.2% as compared to the same period last year. Trade sales were up 24.4% year-over-year, coming in at $700.3 million. Year-to-date (January-June 2020) Trade sales were $3.6 billion, an increase of 2.8%, as compared to the same period in 2019.

What’s more hygienic? Paper Towels or Electric Hand Dryers

Hygiene is a key factor in modern society today. Good health, together with an improved quality of life, is directly related to good hygiene. Our latest fact sheet examines the research and looks at which is the most hygienic way to dry hands, paper towels or electric hand dryers? We are pleased to present the Two Sides Q3 Campaign Update. The report covers all of our latest results and successes. Product packaging around the world is currently going through a transformation, with companies keen to move from single-use to more sustainable solutions. Read more at: https://twosides.info/documents/factsheets/6-What's-More-Hygienic.pdf?utm_medium=email&utm_campaign=TSUK%20Nov%201&utm_content=TSUK%20Nov%201+CID_058a839741026ebda51b4eec13bfca33&utm_source=Email%20marketing%20software&utm_term=Read%20more

News Corp Reports Third Quarter Results for Fiscal 2018

The Company reported fiscal 2018 third quarter total revenues of $2.10 billion, a 6% increase compared to $1.98 billion in the prior year period, reflecting strong growth in the Digital Real Estate Services and Book Publishing segments and a $70 million positive impact from foreign currency fluctuations. The growth was partially offset by lower print advertising and News America Marketing revenues at the News and Information Services segment. Adjusted Revenues (which exclude the foreign currency impact and acquisitions and divestitures as defined in Note 1) increased 2%. Net loss for the quarter was ($1.1) billion as compared to nil in the prior year. The loss was primarily driven by non-cash write-downs of $998 million related to Foxtel and FOX SPORTS Australia, as well as a non-cash impairment charge of $165 million at News America Marketing. Click Read More below for additional information.
Back To Top
×Close search
Search