Content about Costco Wholesale

April 22, 2013
Costco employee injured in Boston attack has insurance, company says

In one of the most disturbingly iconic images to emerge from the recent terrorist attack in Boston, a runner who lost both legs in the blast is shown being rushed away by wheelchair.

NEW YORK — In one of the most disturbingly iconic images to emerge from the recent terrorist attack in Boston, a runner who lost both legs in the blast is shown being rushed away by wheelchair.

That runner, it turns out, is 27-year-old Costco Wholesale employee Jeff Bauman of New Hampshire. Following reports that Bauman was uninsured, based on comments a relative had made to a reporter, Costco took to Twitter to remind readers that he does, in fact, have insurance through the company.

April 22, 2013
NACDS Foundation announces five new board members

The National Association of Chain Drug Stores Foundation announced the election of five new members to its board of directors.

ARLINGTON, Va. — Today, the National Association of Chain Drug Stores Foundation announced the election of five new members to its board of directors. Victor Curtis, SVP pharmacy of Costco Wholesale; Jon Giacomin, president of U.S. pharmaceutical distribution for the pharmaceutical group of Cardinal Health; John Poulin, director of professional relations of Lilly USA; Todd Tillemans, president of customer development at Unilever; and Richard Tremonte, VP sales and marketing of the U.S.

April 11, 2013
Costco reports 7% sales increase for March

Club retailer Costco Wholesale announced sales grew by 7% in March compared with March 2012, the company said.

ISSAQUAH, Wash. — Club retailer Costco Wholesale announced Thursday sales grew by 7% in March compared with March 2012, the company said.

Costco reported net sales for the month of $9.67 billion, compared with $9.07 billion during the same period last year.

For the 31-week period that ended on Sunday, sales were $61.02 billion, an 8% increase over the same period last year, when sales were $56.34 billion.

The Issaquah, Wash.-based chain currently operates 626 stores, including 449 in the United States.

 

April 8, 2013
Reports: Costco looks to develop e-commerce in China

Costco Wholesale appears to be eyeing China's online commerce market, according to published reports.

NEW YORK — Costco Wholesale appears to be eyeing China's online commerce market, according to published reports.

The Southern Metropolis Daily, a newspaper based in the southern Chinese city of Guangzhou, reported Thursday that the Issaquah, Wash.-based club retailer was interested in entering the country's e-commerce market and was in the process of looking for local partners.

April 5, 2013
Costco magazine's April issue embeds digital watermarks in articles, ads

Starting this month, the more than 8.6 million readers of Costco Wholesale's member magazine will be able to use smartphones and tablets to scan more than 50 digital watermarks included in articles and ads.

BEAVERTON, Ore. — Starting this month, the more than 8.6 million readers of Costco Wholesale's member magazine will be able to use smartphones and tablets to scan more than 50 digital watermarks included in articles and ads.

March 12, 2013
Costco sees sales, profits rise in second quarter

Costco Wholesale increased sales by 8% to $24.34 billion in the second quarter of 2013, the club retailer said.

ISSAQUAH, Wash. — Costco Wholesale increased sales by 8% to $24.34 billion in the second quarter of 2013, the club retailer said Tuesday.

Sales for the first half of the fiscal year were $47.55 billion, a 9% increase over the first half of fiscal year 2012. The company's U.S. business had same-store sales of 5% for the quarter and 6% for the first half of the year, while profits were $547 million, compared with $394 million last year. Profits for the first half of the year were $963 million, compared with $714 million last year.

March 6, 2013
Costco backs minimum wage increase

Costco Wholesale is throwing its support behind a bill introduced in Congress to raise the federal minimum wage.

WASHINGTON — Club retailer Costco Wholesale is throwing its support behind a bill introduced in Congress Tuesday to raise the federal minimum wage.

February 15, 2013
Costco sued over diamond engagement rings

Jewelry maker Tiffany & Co. is suing Costco Wholesale, alleging that the club retailer falsely marketed diamond engagement rings as coming from the New York-based jeweler, according to published reports.

NEW YORK — Jewelry maker Tiffany & Co. is suing Costco Wholesale, alleging that the club retailer falsely marketed diamond engagement rings as coming from the New York-based jeweler, according to published reports.

News media reported that Tiffany filed suit against Issaquah, Wash.-based Costco in the Federal District Court in Manhattan.

February 14, 2013
Reports: Buffett, Lemann buy H.J. Heinz; Buffett investment group increases Costco holding

The investment groups of billionaires Warren Buffett and Jorge Paulo Lemann will buy H.J. Heinz for about $23 billion, according to published reports.

NEW YORK — The investment groups of billionaires Warren Buffett and Jorge Paulo Lemann will buy H.J. Heinz for about $23 billion, according to published reports.

Bloomberg reported that Buffett's Berkshire Hathaway and Lemann's 3G Capital would buy the condiment maker for $72.50 per share, and the deal includes $12 billion to $13 billion from Buffett's group. Heinz also owns the Ore-Ida potato chip brand.

January 4, 2013
Walgreens, Target, Sears, Supervalu, Costco get high marks for gay, lesbian employee policies

Several retailers got top scores from a gay-rights organization for their efforts to prevent discrimination against and include lesbian, gay, bisexual and transgender employees.

WASHINGTON — Several retailers got top scores from a gay-rights organization for their efforts to prevent discrimination against and to include lesbian, gay, bisexual and transgender employees.

The Human Rights Campaign released its 2013 Corporate Equality Index, which gives companies ratings of up to 100% based on their policies regarding LGBT employees and also released a buyer's guide for LGBT consumers.

October 5, 2012
Costco experiences net, same-store sales jump for September

Costco Wholesale reported a better-than-expected 6% rise in September same-store sales, helped by higher gasoline prices and a stronger dollar.

NEW YORK — Costco Wholesale reported a better-than-expected 6% rise in September same-store sales, helped by higher gasoline prices and a stronger dollar.

Excluding the impact of gasoline prices and foreign exchange, comparable same-store sales rose 5% for the month.

Net sales rose 8% to $9.31 billion in the five weeks ended Sept. 30. Costco, which currently operates 608 warehouses, said it plans to open up to 14 new warehouses prior to the end of calendar year 2012.

September 7, 2012
Reports: Obama gets support from former Costco CEO

President Barack Obama's re-election bid got a dose of support from the cofounder of one of the country's largest retailers, according to published reports.

NEW YORK — President Barack Obama's re-election bid got a dose of support from the cofounder of one of the country's largest retailers, according to published reports.

Speaking at the Democratic National Convention, former Costco Wholesale CEO and cofounder Jim Sinegal said Obama "understands what the private sector needs to succeed," The Seattle Times quoted the co-founder of Issaquah, Wash.-based Costco as saying.

August 30, 2012
Capturing specialty market is essential for growth

Specialty pharmacy is one of the fastest-growing segments of pharmacy today, but only a minority of specialty drugs that end up in patients' hands are dispensed through retail pharmacy channels.

WHAT IT MEANS AND WHY IT'S IMPORTANT — Specialty pharmacy is one of the fastest-growing segments of pharmacy today, but only a minority of specialty drugs that end up in patients' hands are dispensed through retail pharmacy channels.

But with the growing importance of specialty due to the aging population and the commoditization of the market for primary care drugs, more retailers want in on the action, so it wouldn't be in their interest to have PBMs conquer too big a share of the market.

August 30, 2012
Costco posts strong August sales

Club retailer Costco Wholesale posted sales of $7.4 billion for the month of August, reporting an 8% sales increase over August 2011 and an increase in comps that beat analysts' expectations.

ISSAQUAH, Wash. — Club retailer Costco Wholesale posted sales of $7.4 billion for the month of August, reporting an 8% sales increase over August 2011 and an increase in comps that beat analysts' expectations.

Same-store sales for the chain during the four-week period that ended Sunday increased by 6% over the same period a year ago, reaching the high end of Citi's forecast of 4% to 6% and exceeding Guggenheim Partners' 4% forecast.

August 26, 2012
Wasson rallies NACDS attendees with 'Push-Pull' theory for advancement of pharmacy

The National Association of Chain Drug Stores' 2012 Pharmacy & Technology Conference got under way Sunday as NACDS chairman and president and CEO of Walgreens Greg Wasson talked about how far pharmacy has come during his career and the increasingly significant role it will play in health care in the future.

DENVER — The National Association of Chain Drug Stores' 2012 Pharmacy & Technology Conference got under way Sunday at the Colorado Convention Center in Denver as NACDS board chairman and president and CEO of Walgreens Greg Wasson spoke about how far pharmacy has come during his career and the increasingly significant role it will play in health care in the future.

July 5, 2012
June sales rise for Costco

Costco Wholesale reported net sales of nearly $9.2 billion for the month of June, an increase of 6% from the similar period last year.

ISSAQUAH, Wash. — Costco Wholesale reported net sales of nearly $9.2 billion for the month of June, an increase of 6% from the similar period last year.

Overall comparable sales for the period were 3%. U.S. comps also were 3%, while international comps were 2%.

Both year's five-week periods included 34 days in the U.S. and Canada (U.S. warehouses closed Memorial Day; Canadian warehouses closed July 1, Canada Day).

June 15, 2012
Costco takes full ownership of Mexican unit

Costco Wholesale has agreed to buy out Controladora Comercial Mexicana's 50% share interest in Costco de Mexico, a joint venture, for about $760.4 million.

ISSAQUAH, Wash., and MEXICO CITY — Costco Wholesale has agreed to buy out Controladora Comercial Mexicana's 50% share interest in Costco de Mexico, a joint venture, for about $760.4 million.

In addition, Costco Mexico has declared a cash dividend of approximately $340.85 million, 50% payable to a subsidiary of Costco Wholesale and 50% to CCM. Costco Wholesale will use the dividend proceeds and existing cash and investment balances to fund the purchase. CCM will use the dividend and sale proceeds to pay down debt.

June 6, 2012
Reports: Wash. liquor prices appear to rise after privatization

Some people in Washington state may be having "buyer's remorse" over the privatization of liquor sales there, which took effect last week, according to published reports.

NEW YORK — Some people in Washington state may be having "buyer's remorse" over the privatization of liquor sales there, which took effect last week, according to published reports.

May 7, 2012
Reports: Costco looks to grow sales online

Club retailer Costco Wholesale is looking to grow its online retail presence, according to published reports.

NEW YORK — Club retailer Costco Wholesale is looking to grow its online retail presence, according to published reports.

According to The Seattle Times, the company plans to introduce apps for Apple and Android devices this month in order to boost its online sales, which, at about $2 billion a year, are behind companies like Walmart and Amazon.

Citing industry statistics, The Seattle Times reported that Costco ranked 17th among online retailers, while Amazon had the top spot, and Walmart was fourth.

January 4, 2012
Morningstar names Costco's Jim Sinegal CEO of the Year

Investment research firm Morningstar has named the outgoing CEO of Costco Wholesale as its 2011 CEO of the Year, the company said Wednesday.

CHICAGO — Investment research firm Morningstar has named the outgoing CEO of Costco Wholesale as its 2011 CEO of the Year, the company said Wednesday.

Costco CEO Jim Sinegal, who retired on New Year's Day, received the recognition for what Morningstar called his "exemplary corporate stewardship, independent thinking" and creating "lasting value for shareholders."

December 5, 2011
Costco’s lobbying changes 
WA’s liquor laws: Who is next?

Bootlegging, debauching and murdering its way through the second season, HBO’s Prohibition-themed series “Boardwalk Empire” has dramatized an era alien to its viewers but whose vestiges have remained in much of the country.


Bootlegging, debauching and murdering its way through the second season, HBO’s Prohibition-themed series “Boardwalk Empire” has dramatized an era alien to its viewers but whose vestiges have remained in much of the country.


October 25, 2011
Report: Costco's donations to Washington state initiative break records

Costco Wholesale's donations to a Washington state voter initiative that would legalize liquor sales by private retailers have broken state records, according to published reports.

ISSAQUAH, Wash. — Costco Wholesale's donations to a Washington state voter initiative that would legalize liquor sales by private retailers have broken state records, according to published reports.

September 29, 2011
Report: Costco calls for more attention to cantaloupe safety

Costco Wholesale is calling on the farms that grow cantaloupes and the companies that ship them to be more vigilant in preventing contamination amid one of the deadliest outbreaks of foodborne disease in recent history, according to published reports.

NEW YORK — Costco Wholesale is calling on the farms that grow cantaloupes and the companies that ship them to be more vigilant in preventing contamination amid one of the deadliest outbreaks of foodborne disease in recent history, according to published reports.

September 6, 2011
Costco is in good hands with Jelinek at helm

While news media fret over what effect Steve Jobs' departure from Apple will have on that company, it's clear that Jim Sinegal is leaving Costco Wholesale in capable hands as he prepares to step down as CEO and hand leadership over to president and COO Craig Jelinek.

WHAT IT MEANS AND WHY IT'S IMPORTANT — While news media fret over what effect Steve Jobs' departure from Apple will have on that company, it's clear that Jim Sinegal is leaving Costco Wholesale in capable hands as he prepares to step down as CEO and hand leadership over to president and COO Craig Jelinek.

(THE NEWS: New leadership era begins at Costco. For the full story, click here)

June 2, 2011
Warehouse clubs deliver big comps in May

Costco Wholesale and BJ’s Wholesale reported strong sales growth and produced impressive comps even without the benefit of fuel sales.

ISSAQUAH, Wash. and WESTBOROUGH, Mass. — Costco Wholesale and BJ’s Wholesale reported strong sales growth and produced impressive comps even without the benefit of fuel sales.

Costco reported that net sales for the month of May increased 17% to $7.14 billion from $6.09 billion last year. This year’s May results period included sales from the company's Mexico joint venture. If these sales are excluded, Costco’s net sales increase would have been 14%.