Costco Wholesale Corp - COST STOCK NEWS

Costco has declared a special cash dividend of $10 per share, totaling approximately $4.4 billion, payable on December 11, 2020. Shareholders of record by December 2, 2020 will receive this dividend. This marks Costco's fourth special dividend in eight years, reflecting the company's strong balance sheet and commitment to rewarding shareholders while maintaining operational flexibility. Currently, Costco operates 802 warehouses globally and is well-positioned to enhance shareholder value in the long term.

Costco Wholesale Corporation (COST) reported strong financial results for October 2020, with net sales reaching $13.82 billion, a 15.9% increase compared to $11.92 billion last year. Over the nine weeks ending November 1, 2020, net sales were $30.66 billion, reflecting a 16.4% rise from $26.33 billion in the prior year. Comparable sales in the U.S. rose by 13.6% for four weeks and 14.1% for nine weeks. E-commerce sales surged by 91.1% in October. Costco operates 800 warehouses globally, continuing its robust expansion.

Costco Wholesale Corporation (Nasdaq: COST) declared a quarterly cash dividend of 70 cents per share, payable on November 13, 2020, to shareholders recorded by October 30, 2020. The company operates 796 warehouses worldwide, with the majority located in the U.S. and Puerto Rico. Costco's diverse presence includes warehouses in Canada, Mexico, the U.K., Japan, and more, alongside various e-commerce platforms. The company also highlighted potential risks in future operations, including economic conditions, competition, and COVID-19-related factors.

Costco Wholesale Corporation (COST) reported net sales of $16.84 billion for September, marking a 16.9% increase from $14.41 billion the previous year. U.S. comparable sales rose 14.5%, with Canada at 17.5% and other international sales at 18.5%. E-commerce sales surged by 90.3%. The sales boost was aided by holiday shifts such as Labor Day and Chuseok, contributing nearly 100 bps globally. As of now, Costco operates 796 warehouses worldwide.

Costco Auto Program has launched a Limited-Time Savings Event from October 1, 2020, to January 4, 2021, offering exclusive member incentives on select 2020 and 2021 models from Volvo, Chevrolet, Buick, and GMC. Members can stack Costco discounts with manufacturer incentives, including up to $3,000 off for Chevrolet Bolt EV. The event follows a successful first half of 2020, with nearly 45,000 additional vehicle sales. Popular models include Volvo's XC90 and Chevrolet's Silverado. To participate, members must register at CostcoAuto.com/Save.

Costco Wholesale Corporation (COST) reported strong financial results for its 16-week fourth quarter and the 52-week fiscal year ending August 30, 2020. Net sales rose 12.5% to $52.28 billion in Q4 and 9.3% to $163.22 billion for the fiscal year. The company experienced significant e-commerce growth, with Q4 online sales increasing 90.6%. Net income in Q4 was $1.389 billion ($3.13 per share), up from $1.097 billion ($2.47 per share) last year, although impacted by COVID-19 related expenses totaling $281 million.

Costco Wholesale Corporation (Nasdaq: COST) reported a 15.0% increase in net sales for August 2020, reaching $13.56 billion, compared to $11.79 billion in the previous year. For the four-week period ending August 30, 2020, net sales totaled $52.3 billion, up 12.7% from $46.4 billion in Q4 2019. The fiscal year saw total net sales of $163.2 billion, a 9.2% rise from $149.4 billion. Comparable sales in the U.S. grew 12.5%, affected by Labor Day's timing with a 75 bps impact.

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.