Costco Wholesale Corporation Reports September Sales Results

Athleta announced the expansion of a wholesale partnership with REI Co-op, bringing a curated selection of its product to 135 REI stores nationwide and online. As part of its growth plan to reach $2 billion in net sales by 2023, Athleta has committed to investing in new touchpoints to increase awareness and drive new customer acquisition. The collection will include select styles of Athleta premium performance and lifestyle apparel and accessories, designed by women for women. Customers will be able to shop Athleta core lifestyle, hike and yoga bottoms, along with key tops and accessories. Additionally, REI will carry select extended sizing options from size 0-26 in hiking and fitness apparel designs in one-quarter of all stores and on REI.com, bringing women even more inclusive sizing options and ways to shop.

Second Quarter Fiscal 2022 - Financial Results *Net sales of $3.86 billion, down 8% compared to last year. *Comparable sales were down 10% year-over-year. *Online sales declined 6% compared to last year and represented 34% of total net sales. *Store sales declined 10% compared to last year. The company ended the quarter with 3,390 store locations in over 40 countries, of which 2,799 were company operated. *Reported operating loss was $28 million in the quarter; reported operating margin of (0.7%). *Reported net loss of $49 million.

After a gruesome showing in April with U.S. total retail sales plummeting to recession-level numbers, May spending made an unexpected recovery as states allowed more retail stores to reopen. The easing of coronavirus-related business closures and stay-at-home orders gave overall retail a much-needed boost, yet the recent surge in online and other nonstore sales as people were forced to place orders from the safety of their own homes showed no signs of slowing last month, new U.S. Department of Commerce data shows. Consumer spending through nonstore channels increased 24.6% year over year in May—the highest growth rate ever recorded for the month, according to a Digital Commerce 360 analysis of the Commerce Department’s advance monthly figures released Tuesday. Numbers exclude estimated fuel sales. The jump also represents the second-largest year-over-year uptick of any month in the history of the agency’s available data, falling behind only December 2019, when nonstore sales swelled by 25.7%.