Costco Wholesale Corporation (“Costco” or the “Company”) (Nasdaq: COST) today reported net sales of $13.62 billion for the retail month of November, the four weeks ended December 1, 2019, an increase of 6.7 percent from $12.77 billion last year. For the twelve-week first quarter ended November 24, 2019, the Company reported net sales of $36.24 billion, an increase of 5.6 percent from $34.31 billion last year. For the thirteen weeks ended December 1, 2019, the Company reported net sales of $39.95 billion, an increase of 6.3 percent from $37.57 billion during the similar period last year.
The National Paper Trade Association (NPTA) is pleased to announce that Mike Graves of Midland Paper, Packaging + Supplies is the recipient of the 2020 Stanley O. Styles Industry Excellence Award. Mr. Graves’s impact on the industry is marked by his steadfast leadership, dedication to the Industry, innovative ideas, strong sense of ethics, generosity and willingness to lend a hand, which make him more than deserving of NPTA’s highest honor. In 2002, he came to Midland Paper, Packaging + Supplies as the GM of the Chicago division. He was soon appointed Chief Operating Officer of the company before becoming President and an equity partner. As the Chief Executive Officer, he now oversees all of Midland’s commercial printing relationships, vendor relationships, the packaging and specialty paper segments and Midland’s 16 distribution facilities. Mr. Graves is credited with being a major catalyst of Midland’s growth and success, going from a regional Midwest fine paper distributor to a national distributor of fine papers, packaging and specialty media.
For the Third Quarter of Fiscal 2019 • Net sales increased 7.9% to $1,682.5 million compared to $1,560.0 million in the third quarter of fiscal 2018; • Comparable sales (sales for stores open at least 14 months and e-commerce sales) increased 3.2% compared to an increase of 7.8% in the third quarter of fiscal 2018. The 3.2% comparable sales increase was driven by 2.3% transaction growth and 0.9% growth in average ticket; • Net income was $129.7 million compared to $131.2 million in the third quarter of fiscal 2018.
The holiday season is the time for nostalgia and tradition, and that is the case here at PYMNTS, where even amid our coverage of the newest retail trends, we sometimes get the warm-and-fuzzies. It led us to wonder, going into the heart of the fourth quarter and then into 2020, about the status of that old standby, the retail catalog. Those old-fashioned methods of selling might have more life in the eCommerce age than many assume – thanks in large part, according to experts, to younger consumers’ desire for non-digital shopping experiences and the need for retailers to stand out from the pack. Whatever the reasons, catalogs have seen renewed life in this digital age, and will probably be a source of some innovation going forward into the new decade.
National Average Price for Regular Unleaded Current: $2.589; Month Ago: $2.623; Year Ago: $2.443. National Average Price for Diesel Current: $3.004; Month Ago: $3.009; Year Ago: $3.130.
American Dollar to Canadian Dollar = 0.758942; American Dollar to Chinese Yuan = 0.142247; American Dollar to Euro = 1.109302; American Dollar to Japanese Yen = 0.009211; American Dollar to Mexican Peso = 0.051659.
Oil futures headed lower Friday as OPEC and other major producers of crude aim to ratify a deeper reduction of output that has been agreed upon in principle but must be unanimously approved by the cartel’s 14-member group. Reports have indicated that the Organization of the Petroleum Exporting Countries and big exporters of oil like Russia in an annual meeting in Vienna have recommended cutting production by 500,000 barrels a day, much deeper than had previously been anticipated by experts.
Highlights • Record Group profitability and return on sales despite economic headwinds o Market share gains driven by multinational FMCG and e-commerce customers o Customers increasingly valuing our sustainable packaging solutions, reflected in good pricing and return on sales up 110 basis points • Europe – good organic profit growth • Europac - excellent progress and strong initial contribution o Packaging turnaround to profitability o €70m synergy programme fully on track • Good US domestic performance offset by impact of export paper pricing o Indiana greenfield box plant now operational ▪ Transforms US capability and customer offering ▪ Consistent with strategy to reduce US long paper exposure • Strong cashflow and balance sheet o Plastics disposal (net proceeds c. £400m) expected to complete around the calendar year end o Strong liquidity profile: €600m, seven year bond raised at 0.875% • Future growth prospects continue to benefit from the increased customer focus on sustainability (including plastic replacement) and e-commerce.
AeroFlexx announced a partnership with Fameccanica, an innovation-based group focusing on diversified industrial automated machinery. With an innovative approach to design and wealth of experience in web converting and liquid filling machinery, Fameccanica will make its technological expertise and know-how available for the development of the lead commercial line which will produce AeroFlexx’s revolutionary liquid packaging solution. The AeroFlexx package is a sustainable, customer-focused package solution that uses at least 50 percent less plastic, enhances the consumer experience and is easier to ship throughout the supply chain.
The Association of Magazine Media has released a five-year study on magazine media audience trends. The biggest finds from the report: Magazine media has reached a total audience of 2 billion and is more engaging to consumers online than non-magazine brands. (Magazine brands are defined in the study as titles traditionally founded on a print product.) The report found that 81% of the time, audiences to magazine media sites are more engaged than those consuming similar content on non-magazine brand sites.