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Costco Wholesale Corp.

Craig Jelinek to step down as Costco CEO

Craig Jelinek to step down as Costco CEO

ISSAQUAH, Wash. — Costco Wholesale Corp. chief executive officer Craig Jelinek intends to step down from that role, effective January 1, 2024. The Board of Directors has elected Ron Vachris, who has served as president and chief operating officer since February 2022, to succeed Jelinek as CEO, while continuing to serve as president. The company

Costco’s 4Q results exceed estimates

Costco’s 4Q results exceed estimates

ISSAQUAH, Wash. — Costco Wholesale Corp. reported financial results for its 17-week fourth quarter and 53-week fiscal year ended September 3 that featured continued growth but at a slower pace. Shoppers made more trips to its warehouse clubs but spent less per visit, with fewer purchases of big-ticket items, the company announced September 26. Net

Study eyes grocers’ long-term future

CHICAGO — Amazon, Aldi, Costco Wholesale Corp. and Wal­mart are among the U.S. food retailers best positioned for success in 2053, according to a report from dunnhumby. “Grocery 2053: A Data-Driven Gaze into the Future” is the data science firm’s examination of trends that will have the biggest potential impact on grocery retailers over the

Costco names Claudine Adamo chief merchant

Costco names Claudine Adamo chief merchant

ISSAQUAH, Wash. — Costco Wholesale Corp. has tapped Claudine Adamo to serve as executive vice president and COO for merchandising. Adamo, who most recently served as senior vice president of nonfoods merchandising, succeeds Ron Vachris, who was recently promoted to president and chief operating officer. Craig Jelinek, who had previously held the title of president,

Costco’s net sales jump in second quarter

Costco’s net sales jump in second quarter

ISSAQUAH, Wash. — Costco Wholesale Corp. said net sales increased 7.3% to $24.6 billion in the fiscal second quarter. Top growth categories included grocery, consumer electronics, apparel, hardware, and health and beauty aids. Comparable-store sales at its U.S. clubs rose 7.2%, excluding the impact of fuel price and currency changes, in the 12 weeks to

U.S. retailers urge Trump not to impose tariffs

U.S. retailers urge Trump not to impose tariffs

WASHINGTON — More than two dozen retail companies — including Walmart, Costco Wholesale Corp., Dollar Tree Inc. and Target Corp. — sent a letter on Monday to President Trump urging him to refrain from imposing tariffs on China and alleging that American families would be hurt by such a move. In a separate letter to