Costco’s strong first quarter kicks off fast start to 2019

2019-04-22
By: venynx
Posted in:






Costco Wholesale Corp. reported net sales for the first quarter of fiscal 2019 of $34.31 billion, an increase of 10.3% from $31.12 billion during the first quarter last year.To get more costco china, you can visit shine news official website.

Net income for the quarter was $767 million, or $1.73 per diluted share, compared to $640 million, or $1.45 per diluted share, last year. This year’s first quarter benefited from a $59 million (13 cents per diluted share) tax benefit related to stock-based compensation and a $27 million (6 cents per diluted share) tax benefit related to implementation of the 2017 Tax Act. In addition, the quarter includes a charge of $43 million ($31 million after-tax, 7 cents per diluted share) for an adjustment to Costco’s estimate of breakage on rewards earned prior to fiscal year 2019 for the Citi/Visa co-branded credit card program. Last year’s first quarter benefited from a $41 million (9 cents per diluted share) tax benefit related to stock-based compensation.

Costco’s gross margin in the quarter ended Nov. 25 was 10.75% down from 11.25% a year earlier. That was despite comparable sales rising a strong 7.5%, excluding gas-price changes, the foreign exchange impact and other items.

In a call with analysts, executive vice president and CFO Richard Galanti noted that the company has boosted wages and is spending on information technology and its e-commerce capabilities, including fulfillment centers and depots.

“In terms of warehouse expansion, we've opened eight locations, including two relos, so a net of six in the first quarter,” said Galanti. “For all of '19, we expect to open 20 — about 23 net new warehouses, as well as four relocations. The two we've opened plus two more planned for the rest of the year. Within the 23 net new, about three quarters of them are in the U.S. and about a quarter of them are international.
“We're also under construction with our first Costco in China and Shanghai with the expected opening later in calendar 2019. As of first quarter end, total warehouse square footage stood at 111 million square feet.”

E-commerce continues to grow, with sales rising 26.2% in the quarter. Costco is currently putting Amazon-style purchase lockers in 10 stores as an experiment to refine its buy-online, pickup-in-store offering.As for the grocery business, Galanti noted, “Same-day grocery delivery is now available to members within a 20-minute drive of 99% of our U.S. locations.”

Galanti conceded that Costco is feeling competitive pressure from supermarkets and Walmart unit Sam’s Club in its fresh produce and meats category, which has had an impact on margins, which took a dip this quarter.

“Look we're respectful competitors,” Galanti said of Sam’s Club. “We've been doing this for 35 years. We're not moving away. And we feel we're in a pretty strong area. I mean within fresh, it’s produce and protein and whatever comes our way we'll figure it out. It so happens that fresh right now year-over-year is down a little bit. There are times when it's been up. Right now it’s notable. We still feel that we’re getting more bank room from having Sam's close 63 units and certain incremental competition on certain things. And that's what we do, we compete.”






Dislike 0

Tags

saeed.khatri
09/21/19 04:06:39PM @saeedkhatri:
This is such a great resource that you are providing and you give it away for free. I love seeing blog that understand the value of providing a quality resource for free.
mmPersonalLoans offer personal loans no credit check

saeed.khatri
09/20/19 02:12:23PM @saeedkhatri:
Thank you for some other informative blog. Where else could I get that type of information written in such an ideal means? I have a mission that I’m just now working on, and I have been at the look out for such information.
mmPersonalLoans offer personal loans online application

bravehassan222
09/18/19 04:37:12PM @bravehassan222:
Excellent blog! I found it while surfing around on Google. Content of this page is unique as well as well researched. Appreciate it. plus500 employee review
saeed.khatri
09/16/19 05:18:03PM @saeedkhatri:
Thanks for your post. I’ve been thinking about writing a very comparable post over the last couple of weeks, I’ll probably keep it short and sweet and link to this instead if thats cool. Thanks.
https://www.thecurrent.org/feature/2014/06/09/on-the-ball-with-mark-wheat-world-cup-special-edition

bravehassan222
09/16/19 11:26:16AM @bravehassan222:
Positive site, where did u come up with the information on this posting? I'm pleased I discovered it though, ill be checking back soon to find out what additional posts you include. http://urdupapa.com/
bravehassan222
09/16/19 11:13:38AM @bravehassan222:
Positive site, where did u come up with the information on this posting? I'm pleased I discovered it though, ill be checking back soon to find out what additional posts you include. Top Portal Review
Larry Bennett
09/15/19 08:24:59AM @larry-bennett:
I learn some new stuff from it too, thanks for sharing your information. malaysia casino
bravehassan222
09/15/19 08:04:32AM @bravehassan222:
Wonderful article. Fascinating to read. I love to read such an excellent article. Thanks! It has made my task more and extra easy. Keep rocking. entfernung zwischen
bravehassan222
09/14/19 03:09:20PM @bravehassan222:
It is truly a well-researched content and excellent wording. I got so engaged in this material that I couldn’t wait reading. I am impressed with your work and skill. Thanks. Homepage
Larry Bennett
09/13/19 03:30:24PM @larry-bennett:
I can set up my new idea from this post. It gives in depth information. Thanks for this valuable information for all,.. voyance margot
saeed.khatri
09/13/19 02:24:13PM @saeedkhatri:
This is such a great resource that you are providing and you give it away for free. I love seeing blog that understand the value of providing a quality resource for free.
Berlin marathon results

bravehassan222
09/11/19 05:10:08PM @bravehassan222:
It is truly a well-researched content and excellent wording. I got so engaged in this material that I couldn’t wait reading. I am impressed with your work and skill. Thanks. guaranteed loans for bad credit direct lenders from mmPaydayLoans
bravehassan222
09/11/19 03:12:27PM @bravehassan222:
It was wondering if I could use this write-up on my other website, I will link it back to your website though.Great Thanks. WebClimb
Alexander T. Lavoie
09/11/19 02:15:41PM @alexander-t-lavoie:
I just couldn't leave your website before telling you that I truly enjoyed the top quality info you present to your visitors? Will be back again frequently to check up on new posts. verbatim transcription
saeed.khatri
09/08/19 10:39:54AM @saeedkhatri:
I’m going to read this. I’ll be sure to come back. thanks for sharing. and also This article gives the light in which we can observe the reality. this is very nice one and gives indepth information. thanks for this nice articlsunflower oil ukraine
saeed.khatri
09/07/19 05:10:24PM @saeedkhatri:
Thank you for some other informative blog. Where else could I get that type of information written in such an ideal means? I have a mission that I’m just now working on, and I have been at the look out for such information.
Berlin marathon course

Alexander T. Lavoie
09/07/19 09:25:28AM @alexander-t-lavoie:
This is a great inspiring article.I am pretty much pleased with your good work.You put really very helpful information. Keep it up. Keep blogging. Looking to reading your next post. hire wedding entertainment
bravehassan222
09/04/19 04:20:23PM @bravehassan222:
The article looks magnificent, but it would be beneficial if you can share more about the suchlike subjects in the future. Keep posting. satta king
Larry Bennett
09/04/19 12:34:39PM @larry-bennett:
This article gives the light in which we can observe the reality. This is very nice one and gives indepth information. Thanks for this nice article. dumpsters in cedar park
saeed.khatri
09/04/19 03:24:57AM @saeedkhatri:
Your content is nothing short of bright in many forms. I think this is friendly and eye-opening material. I have gotten so many ideas from your blog. Thank you so much.
http://www.unitedfinances.com/fast-personal-loans/

bravehassan222
09/03/19 04:18:15PM @bravehassan222:
It is my first visit to your blog, and I am very impressed with the articles that you serve. Give adequate knowledge for me. Thank you for sharing useful material. I will be back for the more great post. agen bola terpercaya
saeed.khatri
09/03/19 03:53:11PM @saeedkhatri:
Nice to be visiting your blog again, it has been months for me. Well this article that i’ve been waited for so long. I need this article to complete my assignment in the college, and it has same topic with your article. Thanks, great share.
http://www.unitedfinances.com/personal-loans/

saeed.khatri
09/03/19 11:17:40AM @saeedkhatri:
[url=http://www.unitedfinances.com/unsecured-personal-loans/]guaranteed unsecured personal loans from UnitedFinances.com[/url]
saeed.khatri
09/03/19 06:30:08AM @saeedkhatri:
Positive site, where did u come up with the information on this posting?I have read a few of the articles on your website now, and I really like your style. Thanks a million and please keep up the effective work.
personal loan guaranteed approval from UnitedFinances.com

bravehassan222
09/02/19 07:22:22PM @bravehassan222:
This is such a great resource that you are providing and you give it away for free. I love seeing blog that understand the value of providing a quality resource for free. кондиционер daikin купить украина
saeed.khatri
09/02/19 05:52:25PM @saeedkhatri:
This is a brilliant blog! I'm very happy with the comments!..
small personal loan online from UnitedFinances.com

bravehassan222
09/02/19 04:50:28PM @bravehassan222:
Thanks for picking out the time to discuss this, I feel great about it and love studying more on this topic. It is extremely helpful for me. Thanks for such a valuable help again. How To Download
hasnainkhatri
09/02/19 12:16:52PM @hasnainkhatri:
I'm impressed, I must say. Very rarely do I come across a blog thats both informative and entertaining, and let me tell you, you ve hit the nail on the head. Your blog is important.. golf
masonsilva
09/02/19 11:44:54AM @masonsilva:
That is the excellent mindset, nonetheless is just not help to make every sence whatsoever preaching about that mather. Virtually any method many thanks in addition to i had endeavor to promote your own article in to delicius nevertheless it is apparently a dilemma using your information sites can you please recheck the idea. thanks once more. parc Canberra ec showflat
saeed.khatri
09/01/19 06:36:42PM @saeedkhatri:
[url=https://www.business-ladies.co.il/cities/%d7%a8%d7%97%d7%95%d7%91%d7%95%d7%aa#]ביזנס ליידיס רחובות[/url]
A great content material as well as great layout. Your website deserves all of the positive feedback it’s been getting. I will be back soon for further quality contents.

saeed.khatri
08/31/19 03:45:33AM @saeedkhatri:
This is a brilliant blog! I'm very happy with the comments!..
שירותי ליווי רחובות

bravehassan222
08/30/19 06:16:31PM @bravehassan222:
It is my first visit to your blog, and I am very impressed with the articles that you serve. Give adequate knowledge for me. Thank you for sharing useful material. I will be back for the more great post. Bry dig inte om sportkryss problem eller förlust, inam.net har alla svar
saeed.khatri
08/25/19 07:49:14PM @saeedkhatri:
This is a brilliant blog! I'm very happy with the comments!..
safe online payday loans from UnitedFinances.com

hasnainkhatri
08/24/19 10:55:33AM @hasnainkhatri:
I found this is an informative and interesting post so i think so it is very useful and knowledgeable. I would like to thank you for the efforts you have made in writing this article. crowdfunding offerings are typically purchased by
saeed.khatri
08/24/19 03:32:49AM @saeedkhatri:
This is a brilliant blog! I'm very happy with the comments!..
car insurance which is best

masonsilva
08/23/19 02:02:27PM @masonsilva:
Interesting topic for a blog. I have been searching the Internet for fun and came upon your website. Fabulous post. Thanks a ton for sharing your knowledge! It is great to see that some people still put in an effort into managing their websites. I'll be sure to check back again real soon. Arctic Blast Review - Is Nutriomo Labs' Pain Relief Supplement Legit?
Alexander T. Lavoie
08/23/19 09:37:28AM @alexander-t-lavoie:
I read that Post and got it fine and informative.Digital Agency Singapore
saeed.khatri
08/23/19 05:36:46AM @saeedkhatri:
I know your expertise on this. I must say we should have an online discussion on this. Writing only comments will close the discussion straight away! And will restrict the benefits from this information.
https://ms-jd.org/blog/article/ms-jd-weekly-round-week-ending-march-123-2012

saeed.khatri
08/22/19 03:29:46AM @saeedkhatri:
This is a brilliant blog! I'm very happy with the comments!..
https://www.alleywatch.com/2018/02/resources-female-entrepreneurs-arsenal/

masonsilva
08/21/19 12:23:21PM @masonsilva:
I found this is an informative and interesting post so i think so it is very useful and knowledgeable. I would like to thank you for the efforts you have made in writing this article. 7 Star Directory
muhammad rafay
08/20/19 06:56:34PM @muhammad-rafay:
I was surfing net and fortunately came across this site and found very interesting stuff here. Its really fun to read. I enjoyed a lot. Thanks for sharing this wonderful information. iTrader demo review
saeed.khatri
08/20/19 06:48:17PM @saeedkhatri:
I know your expertise on this. I must say we should have an online discussion on this. Writing only comments will close the discussion straight away! And will restrict the benefits from this information.
http://www.agorabracarense.org/p/links.html

saeed.khatri
08/20/19 03:39:13AM @saeedkhatri:
This is a brilliant blog! I'm very happy with the comments!..
http://www.eurofedop.org/spip.php?article44

saeed.khatri
08/18/19 07:32:18PM @saeedkhatri:
Fabulous post, you have denoted out some fantastic points, I likewise think this s a very wonderful website. I will visit again for more quality contents and also, recommend this site to all. Thanks.
http://suzanastsreca.blogspot.com/2015/05/

masonsilva
08/18/19 12:21:27PM @masonsilva:
The item senses solely ideal. Each of small facets were being designed as a result of quite a few history knowledge. I really like the appliance loads. 먹튀
saeed.khatri
08/18/19 02:42:34AM @saeedkhatri:
This is a brilliant blog! I'm very happy with the comments!..
https://awakeandaware.ca/5-obstacles-on-the-spiritual-path/

hasnainkhatri
08/17/19 12:42:19PM @hasnainkhatri:
This is such a great resource that you are providing and you give it away for free. I love seeing blog that understand the value. Im glad to have found this post as its such an interesting one! I am always on the lookout for quality posts and articles so i suppose im lucky to have found this! I hope you will be adding more in the future... www.intime-plaisirs.fr
hasnainkhatri
08/17/19 12:41:00PM @hasnainkhatri:
This is such a great resource that you are providing and you give it away for free. I love seeing blog that understand the value. Im glad to have found this post as its such an interesting one! I am always on the lookout for quality posts and articles so i suppose im lucky to have found this! I hope you will be adding more in the future... www.intime-plaisirs.fr
saeed.khatri
08/16/19 03:28:46PM @saeedkhatri:
This is a brilliant blog! I'm very happy with the comments!..
https://www.alittleb.it/it/tag/e-learning-it/

masonsilva
08/16/19 10:13:49AM @masonsilva:
Very nice article, I enjoyed reading your post, very nice share, I want to twit this to my followers. Thanks!. click to read more
masonsilva
08/16/19 08:18:05AM @masonsilva:
Straight away this blog will almost certainly unquestionably normally often be popular about each of site consumers, owing to meticulous records and even examination. 55 plus communities in maryland are
masonsilva
08/15/19 07:13:35PM @masonsilva:
Therefore it is preferable that you ought to pertaining learn well before constructing. You possibly can share improved present inside a. Trysubs.com
muhammad rafay
08/10/19 05:40:37PM @muhammad-rafay:
I have been impressed after read this because of some quality work and informative thoughts. I just want to say thanks for the writer and wish you all the best for coming! Your exuberance is refreshing. Jawa jewelers
Alexander T. Lavoie
08/08/19 10:54:59AM @alexander-t-lavoie:
Superbly written article, if only all bloggers offered the same content as you, the internet would be a far better place.. Prepaid Card Vanilla Check Balance
masonsilva
08/07/19 06:48:40PM @masonsilva:
I found this is an informative and interesting post so i think so it is very useful and knowledgeable. I would like to thank you for the efforts you have made in writing this article. Smart Marketer
Alexander T. Lavoie
08/06/19 03:35:55PM @alexander-t-lavoie:
Wow, What a Excellent post. I really found this to much informatics. It is what i was searching for.I would like to suggest you that please keep sharing such type of info.Thanks 성인용품 추천
masonsilva
08/06/19 01:12:27PM @masonsilva:
Please let me know if you’re looking for a article writer for your site. You have some really great posts and I feel I would be a good asset. If you ever want to take some of the load off, I’d absolutely love to write some material for your blog in exchange for a link back to mine. Please send me an email if interested. Thank you! East Grinstead Accountants
Alexander T. Lavoie
08/05/19 03:39:02PM @alexander-t-lavoie:
Thanks for another excellent post. Where else could anybody get that type of info in such an ideal way of writing? In my opinion, my seeking has ended now. Escondido home repipe specialist
masonsilva
08/03/19 10:47:32AM @masonsilva:
I am impressed. I don't think Ive met anyone who knows as much about this subject as you do. You are truly well informed and very intelligent. You wrote something that people could understand and made the subject intriguing for everyone. Really, great blog you have got here. balance credit
Alexander T. Lavoie
08/03/19 10:32:02AM @alexander-t-lavoie:
I exactly got what you mean, thanks for posting. And, I am too much happy to find this website on the world of Google.Viện thẩm mỹ US
masonsilva
08/03/19 10:31:19AM @masonsilva:
I know this is one of the most meaningful information for me. And I'm animated reading your article. But should remark on some general things, the website style is perfect; the articles are great. Thanks for the ton of tangible and attainable help. Steve Coltharp
Alexander T. Lavoie
08/03/19 10:30:22AM @alexander-t-lavoie:
I exactly got what you mean, thanks for posting. And, I am too much happy to find this website on the world of Google. Viện thẩm mỹ US
Alexander T. Lavoie
08/01/19 11:58:58AM @alexander-t-lavoie:
I’m going to read this. I’ll be sure to come back. thanks for sharing. and also This article gives the light in which we can observe the reality. this is very nice one and gives indepth information. thanks for this nice article...
Backlinks

masonsilva
07/30/19 09:01:12PM @masonsilva:
Fast this specific wonderful internet site will unquestionably indisputably be distinguished in the middle of nearly all producing a new web site males and females, to the fastidious written content and also testimonails from others. iTools License Key
ronaldelliott
07/27/19 10:07:12AM @ronaldelliott:
All the contents you mentioned in post is too good and can be very useful. I will keep it in mind, thanks for sharing the information keep updating, looking forward for more posts.Thanks Стоматология краснодар
ronaldelliott
07/27/19 09:36:45AM @ronaldelliott:
All the contents you mentioned in post is too good and can be very useful. I will keep it in mind, thanks for sharing the information keep updating, looking forward for more posts.Thanks change management software
ronaldelliott
07/27/19 09:01:24AM @ronaldelliott:
All the contents you mentioned in post is too good and can be very useful. I will keep it in mind, thanks for sharing the information keep updating, looking forward for more posts.Thanks movies123
ronaldelliott
07/26/19 07:59:15AM @ronaldelliott:
I haven’t any word to appreciate this post.....Really i am impressed from this post....the person who create this post it was a great human..thanks for shared this with us. 먹튀검증
ronaldelliott
07/24/19 12:19:50PM @ronaldelliott:
Friend, this web site might be fabolous, i just like it. Maui family photographers
masonsilva
07/23/19 10:26:53AM @masonsilva:
Took me time to read all the comments, but I really enjoyed the article. It proved to be Very helpful to me and I am sure to all the commenters here! It’s always nice when you can not only be informed, but also entertained! this page
ronaldelliott
07/18/19 11:57:40AM @ronaldelliott:
I’m going to read this. I’ll be sure to come back. thanks for sharing. and also This article gives the light in which we can observe the reality. this is very nice one and gives indepth information. thanks for this nice article... Capital Gains Tax
JamesMorris
05/18/19 08:25:09PM @jamesmorris:
I didn't know a lot of things before I tried this service, I also didn't know about https://release.co.jp/r/488941/ But with your help, it's much easy to figure out everything you need.
venynx
Followers:
stats