Costco Wholesale Corp - COST STOCK NEWS

Costco has declared a quarterly cash dividend increase from 90 cents to $1.02 per share, translating to an annualized amount of $4.08. This dividend is payable on May 19, 2023, to shareholders recorded by May 5, 2023. The company currently operates 850 warehouses globally, with significant locations in the U.S., Canada, Mexico, and several other countries. This dividend increase reflects Costco's strong financial position and commitment to returning value to its shareholders.

Costco Wholesale Corporation reported net sales of $21.71 billion for March 2023, a 0.5% increase from the previous year. For the thirty-one weeks ending April 2, 2023, net sales reached $137.77 billion, reflecting a 6.0% growth compared to $130.00 billion last year. U.S. comparable sales decreased by 1.5%, while total company comparable sales dropped 1.1% for the five-week period. However, e-commerce sales fell significantly, down 12.7% in March. In contrast, excluding gasoline price fluctuations and foreign exchange impacts, U.S. comparable sales increased by 0.9%. Costco operates 850 warehouses globally, with the majority located in the U.S. and Canada.

Costco Wholesale Corporation (Nasdaq: COST) reported its operating results for Q2 and the first 24 weeks of fiscal 2023, ending February 12, 2023. Net sales for Q2 rose by 6.5%, reaching $54.24 billion, compared to $50.94 billion last year. For the first 24 weeks, sales increased by 7.3% to $107.68 billion. Net income for Q2 was $1.466 billion ($3.30 per diluted share), up from $1.299 billion ($2.92 per diluted share) a year earlier. E-commerce sales declined significantly, with a 9.6% drop in Q2. Costco operates 848 warehouses globally and will discuss these results in a conference call today.

Costco Wholesale Corporation (COST) reported net sales of $16.84 billion for January 2023, reflecting a 6.9% increase from $15.76 billion last year. The Lunar New Year, occurring earlier this year on January 22, negatively impacted sales by approximately 2% in Other International segments. For the 22 weeks ended January 29, 2023, net sales reached $99.00 billion, up 7.5% from $92.10 billion in the same period last year. Comparable sales in the U.S. grew by 6.6% for the month and 7.8% for the 22 weeks. However, e-commerce sales declined by 15.4% for January and 6.4% for the 22-week period.

Costco Wholesale Corporation (COST) has reauthorized a common stock repurchase program of up to $4 billion, replacing the previous program set to expire in April 2023. To date, approximately $1.4 billion has been purchased under that program. Additionally, Costco declared a quarterly cash dividend of 90 cents per share, payable on February 17, 2023, to shareholders of record by February 3, 2023. The company's strong presence includes 847 warehouses globally, with 583 in the U.S. and Puerto Rico, and e-commerce operations in multiple countries.

Costco Wholesale Corporation (COST) reported net sales of $23.80 billion for December 2022, a 7.0% increase from last year. For the 18 weeks ending January 1, 2023, net sales reached $82.16 billion, up 7.6%. Comparable sales included 6.2% growth in the U.S. and 4.7% in Canada. However, e-commerce sales declined by 6.4% for the month and 4.8% year-to-date. Costco operates 847 warehouses across various countries. The company emphasizes that forward-looking statements involve risks and uncertainties.

Costco Wholesale Corporation reported a strong first-quarter performance for fiscal 2023, with net sales rising 8.1% to $53.44 billion compared to $49.42 billion last year. Net income increased to $1,364 million or $3.07 per diluted share, up from $1,324 million or $2.98 per diluted share. Comparable sales growth varied by region, with U.S. sales up 9.3%. However, e-commerce sales declined 3.7%.

The results were impacted by a $93 million charge due to downsizing shipping activities, partially offset by a $53 million tax benefit.