Costco Whsl Corp - COST STOCK NEWS

Costco Wholesale Corporation (Nasdaq: COST) announced a $25 million commitment to the Black Economic Development Fund managed by the Local Initiatives Support Corporation (LISC). This fund aims to promote economic opportunities for Black Americans and address the racial wealth gap, which could cost the U.S. economy $1.5 trillion by 2028. Costco is the second investor in the fund, following Netflix, and LISC anticipates over $100 million in total commitments. The fund will focus on investments in Black-owned banks and minority businesses, with capital deployment expected in Q4.

Costco Wholesale Corporation (COST) announced a 14.1% year-over-year increase in net sales for July 2020, reaching $13.04 billion. For the 48 weeks ending August 2, 2020, net sales totaled $149.66 billion, up 8.8% from $137.56 billion the prior year. Comparable sales in the U.S. rose by 13.3%, while e-commerce sales soared by 75.3%. The company operates 790 warehouses globally, including 548 in the U.S. The press release highlighted potential risks, including economic conditions and uncertainties stemming from the COVID-19 pandemic, affecting future performance.

Costco Wholesale Corporation (COST) announced a quarterly cash dividend of 70 cents per share, payable on August 14, 2020, to shareholders on record as of July 31, 2020. The company operates 788 warehouses globally, with a significant presence in the U.S. and Puerto Rico. The announcement reflects Costco's ongoing commitment to returning value to shareholders despite potential uncertainties related to the economic impact of COVID-19 and other market conditions.

Costco Wholesale Corporation (COST) reported net sales of $16.18 billion for June 2020, reflecting an increase of 11.1% compared to $14.57 billion in June 2019. For the forty-four weeks ending July 5, 2020, total net sales reached $136.37 billion, up 8.1% from $126.13 billion in the previous year. Comparable sales figures also showed positive growth, with U.S. sales increasing by 11.0% during the five-week period and 7.2% for the year-to-date. E-commerce sales surged 85.8% for the month and 42.8% year-to-date.

Costco Auto Program and Audi announce a limited-time promotion enabling Costco members to purchase or lease select Audi models at employee pricing. The Audi Sales Event runs from July 1 to September 30, 2020, covering various SUVs, sedans, and the 2019 e-tron, but excluding A3, Q5, RS, and R8 models. The initiative stems from positive member feedback regarding previous Audi incentives. Costco reported over 600,000 vehicle purchases in 2019 through its auto program, enhancing affordability and accessibility for members.

Costco Auto Program is offering exclusive discounts to Costco members on Volvo luxury SUVs and wagons, providing up to $2,000 off on eligible models until June 30, 2020. Prominent models include the award-winning 2020 Volvo XC40, which is highly sought after by Costco members, and the XC90, a top midsize premium SUV. The program aims to enhance member value through these incentives, which can be combined with existing Volvo offers. Costco Auto Program has successfully facilitated more than 600,000 vehicle purchases in 2019.

Costco Wholesale Corporation (COST) reported net sales of $12.55 billion for May 2020, a 7.5% increase from $11.67 billion in May 2019. Year-to-date sales for the thirty-nine weeks reached $120.19 billion, up 7.7% from $111.56 billion last year. Comparable sales data showed gains of 5.5% in the U.S. and 12.0% in Other International for the four weeks, while e-commerce surged 106.2% in the same period. The company operates 787 warehouses globally, including 547 in the U.S.

Costco Wholesale Corporation (COST) reported its third-quarter results for fiscal 2020, revealing a 7.3% increase in net sales to $36.45 billion compared to $33.96 billion last year. For the first 36 weeks, net sales rose 7.8% to $110.94 billion. The company's third-quarter net income was $838 million, or $1.89 per share, impacted by $283 million in COVID-19 related costs. E-commerce surged with a 64.5% increase in the quarter. The company's warehouse count stands at 787 globally, with significant operations in the U.S. and Canada.

Costco Auto Program and Chevrolet announce a special promotion for Costco members, offering discounts on popular models: the Chevrolet Silverado, Tahoe, and Suburban. This promotion runs from May 1 to June 30, 2020. Members can access a $1,000 incentive in addition to Chevrolet's existing offers. The Silverado has consistently been a top choice among Costco members for nine consecutive years. With the ongoing demand for trucks and SUVs, this initiative aims to deliver significant savings, especially for large family needs.