Costco Whsl Corp Stock Price, News & Analysis

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.

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.