A month ago, we reported that Ron Vakris became president of Costco. Ron started his career 39 years ago at Price Company, at Price Club, at the young age of 17. Most of his career was in operations through 2015. Then he spent a little over a year in real estate traveling the world and working on both worldwide and domestic expansion. And since that time in 2016 has been in merchandising with certainly responsibly not only for inline merchandising but online merchandising as well as very involved with logistics and transportation.

Mar 3, 2022 / CFO / receipt, needs a key / Richard Galanti, CFO | earnings call 2022-03-03 | transcript d2eef2dc-6580-4a14-a4ea-e87162b8f163 | chars 18257-18793 | segment 18

Gas, travel, business centers, and pharmacy were all better year over year, offset by e-comm and optical.

Mar 3, 2022 / CFO / receipt, needs a key / Richard Galanti, CFO | earnings call 2022-03-03 | transcript d2eef2dc-6580-4a14-a4ea-e87162b8f163 | chars 6247-6352 | segment 6

Gas and travel were better year over year as the anniversary of softer quarter a year ago, offset by e-comm, which was particularly strong a year ago and also related to the pandemic.

Dec 9, 2021 / CFO / receipt, needs a key / Richard Galanti, CFO | earnings call 2021-12-09 | transcript 1bcfd1e8-525c-4ec5-b614-65e68ee9f06f | chars 6323-6506 | segment 6

Well, again, travel should improve, recognizing how much will improve, we'll wait to see, but it's starting to improve a little bit.

Mar 4, 2021 / CFO / receipt, needs a key / Richard Galanti, CFO | earnings call 2021-03-04 | transcript 1140b807-1cec-49f2-ab36-396b4c21a1dc | chars 33418-33550 | segment 34

As people are spending less on air and travel and hotel and dining out, they seem to have redirected at least some of those dollars to categories like electronics, furniture and mattresses, exercise equipment, housewares, cookware, domestics, et cetera.

Dec 10, 2020 / CFO / receipt, needs a key / Richard Galanti, CFO | earnings call 2020-12-10 | transcript b173bdee-aaf3-469c-95d4-d6d326c32ac6 | chars 14765-15018 | segment 15

Most of our ancillary businesses were lower year-over-year, with the most significant negative impact coming from gasoline and travel, which accounted for about three-quarters of the decline.

Sep 24, 2020 / CFO / receipt, needs a key / Richard Galanti, CFO | earnings call 2020-09-24 | transcript 5def0a20-9d6d-4513-aabc-5ce2b09eed60 | chars 16136-16327 | segment 16

And Costco travel has shown some very modest improvement, but still significantly impacted during the quarter due to reduced demand.

Sep 24, 2020 / CFO / receipt, needs a key / Richard Galanti, CFO | earnings call 2020-09-24 | transcript 5def0a20-9d6d-4513-aabc-5ce2b09eed60 | chars 25611-25743 | segment 26

And lastly, Costco travel. It was, needless to say, significantly impacted during the quarter due to reduced demand as well as cancellations of previous book trips. Members are now starting to actually book travel again, although generally further out than we have historically seen.

May 28, 2020 / CFO / receipt, needs a key / Richard Galanti, CFO | earnings call 2020-05-28 | transcript 218bf8fe-ca21-441d-a381-e799ba0cd799 | chars 18702-18985 | segment 19

And as you might expect, our travel business is impacted due to reduced demand as well as higher than normal cancellations of previously booked trips, particularly as it relates to cruises and international travel.

Mar 5, 2020 / CFO / receipt, needs a key / Richard Galanti, CFO | earnings call 2020-03-05 | transcript c0988f7e-7cf8-49b4-8d91-f21718c93249 | chars 19577-19791 | segment 19