44 added · 30 removed between the two most recent 10-Ks. The risks a company starts — or stops — disclosing are often the story.
Newly disclosed
For example, multiple states are implementing extended producer responsibility laws that will require us to enact policies and processes and will increase expenses in the form of fees paid to the state governments, else be subject to fines and penalties, among other effects.
Digitally-enabled sales, 4 Table of Contents which represents sales delivered to members that are initiated through a digital device, whether fulfilled through a warehouse or distribution center, as well as Costco Travel, represented approximately 10% of total net sales in 2025.
Wilcox was Senior Vice President, General Manager - San Diego Region from 2016 to October 2025. 2025 59 8 Table of Contents Item 1A—Risk Factors The risks described below could materially and adversely affect our business, financial condition and results of operations.
Frates will be appointed Senior Executive Vice President, Warehouse Operations - U.S. and Mexico, effective February 2026. 2022 57 Teresa Jones Executive Vice President, Global Depots and Traffic.
In March 2025, we increased the starting wage by $0.50 an hour to at least $20.00 for all entry-level positions in the U.S. and Canada.
Miller will be retiring from the Company effective February 2026. 2018 68 Claudine Adamo Executive Vice President, Merchandising.
With continued growth in global demand for electricity and water stress in certain regions, we may have difficulty securing long-term utility contracts for new buildings or incur additional costs due to onsite generation and storage requirements.
We are subject to a wide and growing array of federal, state, local and international laws and regulations relating to (among other things), product and food safety, marketing, information security and privacy, labor and employment, imports and customs, transportation, intellectual property, anti-corruption, and environmental or social matters.
These laws and regulations may expand mandatory reporting, increase the scope and complexity of matters that we are required to regulate, assess, and disclose, potentially limit our sourcing flexibility or require extensive system or other changes that could increase the cost of doing business.
These may require extensive system and operational changes, be difficult to implement, increase the cost of doing business, require significant capital expenditures, adversely impact the products or services we offer, or result in adverse publicity and harm to our reputation.
Accounting principles and related pronouncements, implementation guidelines, and interpretations we apply to a wide range of matters that are relevant to our business, including self-insurance liabilities, are highly complex and involve subjective assumptions, estimates and judgments by our management. 16 Table of Contents Changes in rules or interpretation or changes in underlying assumptions, estimates or judgments by our management could significantly change our reported or expected financial performance and have a material impact on our consolidated financial statements.
Failure or perceived failure to meet our environmental, social or governance (ESG) goals or expectations set by changing public interest and government regulation of ESG topics could result in reputational harm or adversely affect our business.
No longer disclosed
Sullivan has been General Counsel since 2016 and Corporate Secretary since 2010. 2021 64 8 Table of Contents Item 1A—Risk Factors The risks described below could materially and adversely affect our business, financial condition and results of operations.
Digitally originated sales, which represents sales that a member initiates through a digitally enabled device, including e-commerce, business delivery, travel, and same-day grocery, represented approximately 9% of total net sales in 2024.
Our e-commerce operations ship merchandise through our depots and logistics operations, as well as through drop-ship and other delivery arrangements with our suppliers. 3 Table of Contents Our average warehouse space is approximately 147,000 square feet, with newer units being slightly larger.
The Executive membership fee increased from $120 to $130 (membership fee of $65, plus Executive upgrade of $65), and the maximum annual 2% reward associated with the Executive Membership increased from $1,000 to $1,250. 5 Table of Contents Human Capital “Take Care of Our Employees,” is a key component of our code of ethics and is fundamental to our commitment to “Take Care of Our Members.” We must also carefully control our selling, general and administrative (SG&A) expenses, so that we can sell high quality goods and services at low prices.
Effective September 1, 2024, we increased our membership fees in the U.S. and Canada for Gold Star, Business, and Business affiliates to $65 per year.
Frates was Senior Vice President, Los Angeles Region, from 2015 to May 2022. 2022 56 Teresa Jones Executive Vice President, Global Depots and Traffic.
Business centers are included in our total warehouse count. 4 Table of Contents Costco Travel offers vacation packages, car rentals, cruises and other travel products exclusively for Costco members (offered in the U.S., Canada, and the U.K.).
Costco remains committed to protecting the health and safety of our members and employees and to serving our communities. 6 Table of Contents For more detailed information regarding our programs and initiatives, see “Employees” within our Sustainability Commitment (located on our website).
Accounting principles and related pronouncements, implementation guidelines, and interpretations we apply to a wide range of matters that are relevant to our business, including self-insurance liabilities, are highly complex and involve subjective assumptions, estimates and judgments by our management.
Changes in rules or interpretation or changes in underlying assumptions, estimates or judgments by our management could significantly change our reported or expected financial performance and have a material impact on our consolidated financial statements.
Failure or perceived failure to meet our ESG goals or expectations set by growing public interest and government regulation of ESG topics could result in reputational harm or adversely affect our business Costco has set public targets and disclosed intentions for future action regarding sustainability.
We may not make adequate and timely investments or successfully implement strategies that will effectively achieve our sustainability-related goals, which could lead to reputational harm with members and other stakeholders. 17 Table of Contents We are involved in a number of legal proceedings and audits and some of these outcomes could adversely affect our business, financial condition and results of operations.