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Fool.com contributor Parkev Tatevosian analyzes Costco's (COST 0.97%) business and why the company has been so successful. *Stock prices used were the afternoon prices of Dec. 21, 2023. The video was published on Dec. 23, 2023. ...

In this articleCOSTCYB-FFUBERThe logo of Uber is seen at a temporary showroom at the Promenade road during the World Economic Forum 2023, in the Alpine resort of Davos, Switzerland, on Jan. 20, 2023.Arnd Wiegmann | ReutersThe Federal Reserve's forecast for three rate cuts in 2024 has lifted investor sentiment, but macro uncertainty can weigh on investment decisions.Wall Street's analysts can dig into the details to find out which stocks are most resilient heading into the new year.Here are three names favor ...

With the U.S. economy in 2022 and 2023 facing headwinds from inflation and higher interest rates, warehouse retailer Costco Wholesale (COST -2.47%) has gotten all sorts of attention. Its sales have been humming along at a healthy clip, but its net income growth in particular has been brisk. That bottom-line figure is essentially a simple measure of Costco's income from its annual membership fees, as it doesn't actually sell its merchandise for anything resembling a net profit.All of that growth over the las ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES ☒ EXCHANGE ACT OF 1934 For the quarterly period ended November 26, 2023 or TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES ☐ EXCHANGE ACT OF 1934 Commission file number 0-20355 Costco Wholesale Corporation (Exact name of registrant as specified in its charter) Washington 91-1223280 (State or other jurisdiction of (I.R.S. Employer Identificat ...

Costco Wholesale Corporation (NASDAQ:COST) Q1 2024 Earnings Conference Call December 14, 2023 5:00 PM ET Company Participants Richard Galanti - CFO Conference Call Participants Michael Lasser - UBS Jacquelyn Sussman - Morgan Stanley Charles Grom - Gordon Haskett Scott Mushkin - R5 Capital John Heinbockel - Guggenheim Kelly Bania - BMO Capital Markets Scott Ciccarelli - Truist Gregory Melich - Evercore Rupesh Parikh - Oppenheimer Thomas Nass - TD Cowen Mark Astrachan - Stifel Corey Tarlowe - Jefferies Dean R ...

Membership and Membership Fees - Total paid memberships reached 71 million in 2023, up from 65.8 million in 2022, representing an increase of 1.2 million Gold Star members and 400,000 Business members[22]. - Membership renewal rates were 92.7% in the U.S. and Canada, and 90.4% worldwide at the end of 2023[22]. - Executive members, who earn a 2% reward on qualified purchases, totaled 32.3 million and represented 45.4% of paid members, contributing approximately 72.8% of worldwide net sales in 2023[23]. - Membership fees increased to $4,580 million for the 53 weeks ended September 3, 2023, compared to $4,224 million in the prior year, reflecting a growth of 8.4%[178]. Financial Performance - Total revenue for the 53 weeks ended September 3, 2023, was $242,290 million, an increase of 6.0% from $226,954 million for the 52 weeks ended August 28, 2022[178]. - Net income attributable to Costco for the 53 weeks ended September 3, 2023, was $6,292 million, up 7.7% from $5,844 million for the previous year[178]. - Operating income rose to $8,114 million, a 4.1% increase from $7,793 million in the previous year[178]. - Basic net income per common share attributable to Costco was $14.18 for the 53 weeks ended September 3, 2023, compared to $13.17 for the previous year, representing an increase of 7.6%[178]. - The company reported comprehensive income of $6,316 million for the 53 weeks ended September 3, 2023, compared to $5,158 million for the previous year, marking an increase of 22.4%[181]. Assets and Liabilities - Total assets as of September 3, 2023, were $68,994 million, up from $64,166 million as of August 28, 2022, indicating a growth of 7.0%[184]. - Total current liabilities were $33,583 million, an increase from $31,998 million in the previous year, reflecting a growth of 4.9%[184]. - Long-term debt with fixed interest rates was $6,484 million[153]. - Long-term debt, excluding the current portion, decreased to $5,377 million from $6,484 million, a reduction of 17.1% year-over-year[184]. Cash Flow and Investments - Cash and cash equivalents increased to $13,700 million from $10,203 million, a rise of 34.5% year-over-year[184]. - The company reported net cash provided by operating activities of $11,068 million for the fiscal year, up from $7,392 million in the prior year, indicating a significant increase of 49.5%[189]. - The company reported a net cash used in investing activities of $4,972 million, an increase from $3,915 million in the previous year, indicating a rise of 27%[189]. - The total short-term investments at the end of 2023 were $1,534 million, with available-for-sale securities recorded at $633 million[244]. Employee and Labor Costs - The company employed 316,000 employees worldwide at the end of 2023, an increase from 304,000 in 2022[25]. - In March 2023, the company raised the top of the wage scales by $0.85 per hour and increased the starting wage to at least $18.50 for entry-level positions in the U.S.[29]. - The company operates on a seven-day, 70-hour week, which helps maintain lower labor costs relative to sales volume[16]. Operational Metrics - Gasoline operations represented about 13% of total net sales in 2023, with 692 gas stations operated by the company[18]. - E-commerce operations accounted for approximately 6% of total net sales in 2023, reflecting the company's strategy to enhance online offerings[19]. - Costco operated 861 warehouses worldwide as of September 3, 2023, with 591 located in the United States, indicating continued market expansion[191]. Tax and Legal Matters - Total provision for income taxes in 2023 was $2,195 million, representing an effective tax rate of 25.9%, compared to $1,925 million and 24.6% in 2022[278]. - The company recorded immaterial accruals for various legal proceedings, with potential losses being monitored[290]. - The company reached a settlement agreement in principle for an immaterial amount in a class action lawsuit in September 2023[294]. Stock and Dividends - Cash dividends declared in 2023 totaled $3.84 per share, compared to $3.38 per share in 2022, reflecting a year-over-year increase of 13.6%[266]. - The Company repurchased 1,341,000 shares in 2023 at an average price of $504.68 per share, totaling $677 million, compared to 863,000 shares repurchased in 2022 for $442 million[268]. - The Company’s stock repurchase program has a remaining authorization of $3,563 million as of the end of 2023, with the program set to expire in January 2027[267].

Costco Wholesale Corporation (NASDAQ:COST) Q4 2023 Earnings Conference Call September 26, 2023 5:00 PM ET Company Participants Richard Galanti - CFO Conference Call Participants Simeon Gutman - Morgan Stanley Michael Lasser - UBS Chuck Grom - Gordon Haskett Peter Benedict - Baird Erica Eiler - Oppenheimer Brandon Cheatham - Citigroup Greg Melich - Evercore Kelly Bania - BMO Capital Markets Oliver Chen - TD Cowen Scott Ciccarelli - Truist Scott Mushkin - R5 Capital Chris Horvers - JPMorgan John Heinbockel - ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES ☒ EXCHANGE ACT OF 1934 For the quarterly period ended May 7, 2023 or TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES ☐ EXCHANGE ACT OF 1934 Commission file number 0-20355 Costco Wholesale Corporation (Exact name of registrant as specified in its charter) Washington 91-1223280 (State or other jurisdiction of (I.R.S. Employer Identification No ...

Costco Wholesale Corporation (NASDAQ:COST) Q3 2023 Earnings Conference Call May 25, 2023 5:00 PM ET Company Participants Richard Galanti - CFO Conference Call Participants Michael Lasser - UBS Simeon Gutman - Morgan Stanley Christopher Horvers - JPMorgan Scot Ciccarelli - Truist Securities Karen Short - Credit Suisse John Heinbockel - Guggenheim Securities Oliver Chen - TD Cowen Scott Mushkin - R5 Capital Brandon Cheatham - Citi Rupesh Parikh - Oppenheimer & Co Operator Ladies and gentlemen, thank you for s ...