Costco Wholesale Corporation Reports June Sales Results

*Operating cash flow increased 16% to $59.3 billion for the trailing twelve months, compared with $51.2 billion for the trailing twelve months ended June 30, 2020. *Free cash flow decreased to $12.1 billion for the trailing twelve months, compared with $31.9 billion for the trailing twelve months ended June 30, 2020. *Net sales increased 27% to $113.1 billion in the second quarter, compared with $88.9 billion in second quarter 2020. Excluding the $2.5 billion favorable impact from year-over-year changes in foreign exchange rates throughout the quarter, net sales increased 24% compared with second quarter 2020. *Operating income increased to $7.7 billion in the second quarter, compared with $5.8 billion in second quarter 2020. *Net income increased to $7.8 billion in the second quarter, or $15.12 per diluted share, compared with $5.2 billion, or $10.30 per diluted share, in second quarter 2020.

The Postal Regulatory Commission approved the rates proposed by United States Postal Service for July but also strongly urged the United States Postal Service Governors not to use all the rate authority, citing the comments we and others filed. Although the price adjustments proposed in this proceeding are consistent with applicable law and the Commission has no legal basis to reject the proposed changes, the Commission is concerned, given the current state of affairs, that the Postal Service’s proposal does not reflect reasoned consideration of the potential widespread effects of its proposal, is not prudent, and is not consistent with the best interests of all stakeholders. Specifically, the Commission remains concerned about the substantial declines in Market Dominant volumes, overall service performance for Market Dominant products, and the Postal Service’s overall financial situation, issues that have all remained significant, if not worsened, since the current Market Dominant ratemaking system went into effect.

Columbus Monthly, Seattle Met, and Denver’s 5280 earned top prizes for General Excellence at the 33rd annual City & Regional Magazine Awards, administered by the University of Missouri School of Journalism and announced Monday at the City & Regional Mag Association’s annual meetup in New Orleans. Twenty-five year-old 5280 and 12 year-old Seattle Met were first-time winners in the General Excellence category, which is split into three prizes based on circulation level. Columbus Monthly, which won among magazines with a circulation of 30,000 or less, had previously won a General Excellence award under a different format in 2001. All three were finalists in their respective categories last year. Click Read More below for additional information.