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
ISSAQUAH, Wash. — Costco Wholesale Corp. exceeded Wall Street’s expectations in posting quarterly financial results that featured continued growth but at a slower pace. Members made more trips to the warehouse clubs but spent less. Shoppers shunned bigger-ticket items, but the groceries category was a sales driver in the 17-week quarter ended September 3. Net
WASHINGTON – The National Retail Federation today released its annual list of the Top 100 Retailers, compiled by Kantar, a global marketing data, insight and consultancy company. The 2023 Top 100 Retailers ranks the industry’s largest companies according to domestic sales. Longtime No. 1 Walmart held its top position with $499.65 billion in U.S. retail sales
ISSAQUAH, Wash. — Costco Wholesale Corp. on Thursday reported that net sales for its fiscal second quarter increased 6.5%, to $54.24 billion, up from $50.94 billion last year. Despite the gain, the company’s stock fell in after hours trading because the increase was below analysts’ forecasts. Comparable sales for the 12-week period ended February 12
ISSAQUAH, Wash. — Costco Wholesale Corp. posted gains in first quarter sales and profits, but they fell short of analysts’ estimates. Adjusted earnings per share of $3.07 in the quarter ended November 20 were up from $2.98 a year earlier, but missed Wall Street’s forecast of $3.11 per share. Sales were $53.44 billion, up 8.1%
ISSAQUAH, Wash. — Costco Wholesale Corp. said foot traffic was up in its fourth quarter, and average tickets were bigger as the warehouse club’s members cope with inflation. Net sales increased 15.2% to $72.7 billion in the 16-week quarter ended August 28. Comparable-store sales rose nearly 14%, and digital sales were up 7.1%. For the
ISSAQUAH, Wash. — Costco Wholesale Corp. reported that net sales for the company’s third quarter totaled $51.61 billion, a 16.3% increase over the $44.38 billion reported for the comparable period last year. Net sales for the year-to-date period ending May 8 increased 16.4%, to $151.97 billion, from $130.61 billion last year. Comparable sales for the
ISSAQUAH, Wash. — Costco Wholesale Corp. reported net sales of $21.61 billion for the retail month of March, an increase of 18.7% over the $18.21 billion posted in the corresponding period last year. Comparable sales for the period (the five weeks ended April 3) increased 19.1% for the company’s U.S. operations, or 12.7% when adjusted
ISSAQUAH, Wash. — Costco Wholesale Corp. reported net sales of $50.94 billion for the second quarter ended February 13. Net sales for the 24-week year-to-date period increased 16.4%, to $100.35 billion, up from $86.23 billion last year. Comparable club sales increased 11.3% in the United States (excluding the impacts from changes in gasoline prices and
ANN ARBOR, Mich. — Customer satisfaction with retail is relatively stable, according to the American Customer Satisfaction Index’s 2021-2022 ranking. The Retail Trade sector as a whole saw its score dip just 0.5% to 75.1 (out of 100). “Cool stability,” says ACSI managing director David VanAmburg. “That’s the best way to describe the retail sector
ISSAQUAH, Wash. — Costco Wholesale Corp. has named Ron Vachris president and chief operating officer. Vachris, 56, previously served as executive vice president and chief operating officer of merchandising, a position he was named to in June 2016. Vachris succeeds Craig Jelinek in the role of president, while Jelinek remains chief executive officer and a
ISSAQUAH, Wash. — Costco Wholesale Corp. has named Ron Vachris president and chief operating officer. Vachris, 56, previously served as executive vice president and chief operating officer, merchandising, a position he was named to in June 2016. Vachris succeeds Craig Jelinek in role of president, while Jelinek remains chief executive officer and a member of the