Publishers File Additional Amicus Brief Supporting First Amendment Rights of Llano County Library Patrons

Costco Wholesale Corporation 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.

The company reported net sales of $2.755 billion for the second quarter ended July 29, 2017, compared to sales of $2.890 billion for the second quarter ended July 30, 2016. The company reported a comparable sales decrease of 8 percent for the second quarter ended July 29, 2017. For the second quarter ended July 29, 2017, the exit of the swim and apparel categories had a negative impact of about 6 percentage points and 9 percentage points to total company and Victoria’s Secret comparable sales, respectively. The second quarter comparable sales decline of 8 percent was below the company’s expectations. Accordingly, the company’s guidance for the remainder of the year reflects a more conservative sales forecast than its previous guidance. The company updated its guidance for 2017 full-year earnings per share to $3.00 to $3.20 from $3.10 to $3.40 previously, and issued guidance for third quarter earnings per share between $0.25 and $0.30. Click Read More below for additional detail.

A May, 2023 report from Student Monitor, a second independent research group, also found a dramatic decade-long decline of 41% in student spending on course materials, with an average spend of $333 per student for the 2022-2023 academic year. Inclusive Access is a course material model developed by colleges across the country to deliver learning resources to students at the lowest market rate, on or before the first day of class. In 2015, the U.S. Department of Education issued federal guidance for institutions of higher learning to charge for course materials as part of tuition and fees, reducing the level of effort it takes for students to utilize their financial aid dollars for timely use on their course materials. According to Student Watch, the number of students enrolled in Inclusive Access has increased to 44% of the student population, up from 39% last year.