Costco Wholesale Corporation Reports December Sales Results

Recent highlights include: -Chico's FAS continued its evolution to a digital-first company, fast tracking several investments in innovative digital technology, leading to higher customer engagement and improved sales. -For the third quarter, total sales improved 14.8% from the thirteen weeks ended August 1, 2020 (the "second quarter"), driven by robust digital performance and rebounding store revenues. -Third quarter digital sales grew by double digits for the second quarter in a row. Year-over-year digital sales grew in all three brands, and Soma led the way with 67% growth compared to the thirteen weeks ended November 2, 2019 ("last year's third quarter"). -Soma achieved a 10.5% total comparable sales growth for the third quarter compared to last year's third quarter. -Total third quarter gross margin rate was up 740 basis points compared to the second quarter, reflecting a higher percentage of full-price selling on leaner inventory, reduced inventory write-offs and leverage of fixed occupancy costs.

In a keynote video address this week to partnership groups composed of Postal Service leaders and the nation’s commercial mailers, USPS Postmaster General and CEO Louis DeJoy said the Postal Service is a different organization now than when he arrived more than two years ago. “Together, we have now started to change the direction of the Postal Service. We are a better organization in a better financial position than we were just one year ago. And we have achieved this exciting momentum during the pandemic. The ball is now in our court to effect the operating and marketing strategies we need to accomplish this transformation,” DeJoy said in his video remarks to over 90 Postal Customer Councils (PCCs) participating in National PCC Week.

JCPenney announced that it has completed its previously announced sale, under which Simon Property Group and Brookfield Asset Management, Inc. have acquired substantially all of JCPenney’s retail and operating assets. The Company’s asset purchase agreement with Simon, Brookfield and the Company’s DIP and First Lien Lenders, supported by the Unsecured Creditors Committee, had previously been approved by the U.S. Bankruptcy Court for the Southern District of Texas on November 9, 2020. “Today is an exciting day for our company, as we have accomplished our goal of putting JCPenney on a secure path for the future as a private company so that we can continue to serve our loyal customers,” said Jill Soltau, Chief Executive Officer of JCPenney.