Costco Wholesale Corp. ecommerce sales grew at nearly twice the rate of net sales in Q3, which also marked the sixth consecutive quarter of double-digit year-over-year online growth.
Costco ecommerce sales grow more than 10% again in Q3
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Net sales increased 25% to $38.0 billion in the second quarter, compared with $30.4 billion in second quarter 2016. Excluding the $502 million unfavorable impact from year-over-year changes in foreign exchange rates throughout the quarter, net sales increased 26% compared with second quarter 2016. Operating income decreased 51% to $628 million in the second quarter, compared with operating income of $1.3 billion in second quarter 2016. Net income was $197 million in the second quarter, or $0.40 per diluted share, compared with net income of $857 million, or $1.78 per diluted share, in second quarter 2016. Click Read More below for additional details.
Between Nov. 26 and Dec. 30, the Postal Service accepted 11.7 billion mailpieces and packages into the network with an average delivery time of just 2.5 days.* The Postal Service also released FY23 second quarter service performance scores covering Jan. 1 through Jan. 6. Data for the reporting period shows the average time to deliver a mailpiece or package across the postal network was just 2.6 days. Quarterly data included: *First-Class Mail: 89.4% of First-Class Mail delivered on time against the USPS service standard, a decrease of 1.6 percentage points from the fiscal first quarter. *Marketing Mail: 93.6% of Marketing Mail delivered on time against the USPS service standard, consistent with performance from the fiscal first quarter. *Periodicals: 84.5% of Periodicals delivered on time against the USPS service standard, consistent with performance from the fiscal first quarter.
Third Quarter Fiscal Year 2023 Financial Highlights *Adobe achieved revenue of $4.89 billion in its third quarter of fiscal year 2023, which represents 10 percent year-over-year growth or 13 percent in constant currency. *GAAP operating income in the third quarter was $1.70 billion. GAAP net income was $1.40 billion. *Cash flows from operations were $1.87 billion. *Remaining Performance Obligations (“RPO”) exiting the quarter were $15.72 billion. *Adobe repurchased approximately 2.1 million shares during the quarter.