Costco and the Teamsters union have reached a tentative agreement, averting a potential strike by approximately 18,000 workers across six states, including California, Washington, and New York. The agreement, which will be presented to union members for a vote, was announced shortly after the previous contract expired at midnight on January 31.

Costco has announced a wage increase for its employees as it faces the possibility of a strike by 18,000 unionized workers. Under the new agreement, senior staff will see their pay rise to over $30 per hour over the next three years, while entry-level wages will increase to $20 per hour. The move comes amid negotiations with the Teamsters union, which argues that the increases may not fully address worker demands. The union has authorized a strike if an agreement is not reached, potentially disrupting operations at Costco locations across the country.

Costco Wholesale Corporation announced that its Board of Directors has declared a quarterly cash dividend of **$1.16 per share** on Costco common stock. The dividend will be payable on **February 21, 2025**, to shareholders of record as of the close of business on **February 7, 2025**.

Costco operates **897 warehouses** globally, including **617 in the United States and Puerto Rico**, along with locations in **Canada (109), Mexico (41), Japan (36), the United Kingdom (29), Korea (19), Australia (15), Taiwan (14), China (7), Spain (5), France (2), and one each in Iceland, New Zealand, and Sweden**. Additionally, Costco runs e-commerce sites in several countries, including the U.S., Canada, and the U.K.

Forward-looking statements included in the announcement address risks such as economic conditions, inflation, competition, and other uncertainties that may affect future performance. For further details, contact Costco's representatives David Sherwood, Josh Dahmen, or Andrew Yoon at the numbers provided.

The Teamsters union, representing over 18,000 Costco employees in the United States, has voted to authorize a nationwide strike as negotiations for a new contract approach their January 31 deadline. The union announced that 85% of its members supported the strike authorization, citing dissatisfaction with Costco’s approach to bargaining. The master agreement between the union and the company is set to expire at the end of the month. Final negotiations begin on January 20, with the potential strike looming if no agreement is reached. Costco has not commented on the situation.