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March 15th - "Speeds can be increased to 40 to 50, 50 to 60 km/h." The latest "Electric Bicycle Safety Technical Specifications" implemented in 2025 clearly stipulates that the maximum design speed should not exceed 25 km/h, the battery packs rated value should not exceed 48 volts, and the motors output power should be less than or equal to 400 watts. In live-streaming sessions, facing numerous consumers, e-commerce hosts showed no regard for national standards, openly promoting the performance of their non-compliant electric bicycles, which were readily available for rent. A rental vehicle from one electric bicycle rental shop demonstrated extreme speeding, reaching a test speed of 80 km/h. During the investigation, reporters discovered that not only did individual local rental shops violate national standards, but some well-known chain brands also exhibited this problem. Hello Electric Bicycle Rental, a leading brand in the electric bicycle rental industry, states on its website that it currently has over 5,000 stores in more than 100 cities nationwide. An investigation was conducted at one of Hello Electric Bicycle Rentals offline stores. Staff at Hello Bike rental stores said their electric bikes can reach speeds of up to 75 km/h.On March 15th, CCTVs 315 Gala exposed the food safety issue of bleached chicken feet. Relevant authorities conducted surprise inspections of Shufuxiang, Mingyang Food, Zengqiao Food, and related upstream companies. In response to food safety issues such as bleached chicken feet, the Sichuan Provincial Market Supervision Administration will launch a special rectification campaign across the province targeting the food production and processing industry.On March 15th, CCTVs "3.15" Gala exposed bleached chicken feet. That evening, the Hechuan District Market Supervision Bureau of Chongqing Municipality stated that it was aware of and highly valued the issues exposed by CCTVs "3.15" Gala regarding Chongqing Zengqiao Food Co., Ltd. The bureau immediately organized law enforcement personnel to rush to the scene to conduct inspections and collect evidence in accordance with the law. Further investigation and handling results will be promptly released to the public.Pakistans Information Minister: Pakistan targeted Taliban strongholds and "terrorist" hideouts in Kandahar, Afghanistan, during a nighttime strike.March 15 (Xinhua) -- According to the Ukrainian National News Agency on March 15, Ukrainian President Volodymyr Zelenskyy said on March 14 that it is still unclear when the postponed trilateral talks between Ukraine, the United States, and Russia will resume. Zelenskyy stated that due to the military strikes against Iran, the United States proposed postponing the next round of trilateral talks, originally scheduled to be held in the United States, until next week. Currently, there is no specific date or proposal, and Ukraine is awaiting a response from the United States.

Costco Margins Are Impacted by Growing Freight And Labor Expenses, And The Stock Price Falls

Charlie Brooks

May 27, 2022 09:50

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Costco Wholesale Corp (NASDAQ:COST) announced a decline in gross margins on Thursday, impacted by rising freight and labor expenses across the United States. The news sent shares of the membership-only retailer down 2% and overshadowed an otherwise positive quarterly report.


Fresh COVID-19 lockdowns in China and the Russia-Ukraine conflict have compounded the problem for U.S. businesses.


Costco announced that it would increase prices in certain food categories in order to battle inflation.


Retailers such as Walmart (NYSE:WMT) Inc and Target Corp (NYSE:TGT) have warned that decades-high inflation will have a negative impact on their earnings, as shoppers hesitate from purchasing non-essential and high-margin goods.


The average Costco buyer earns more than the average Walmart and Target shopper, allowing Costco to generate quarterly earnings and revenue that easily exceeds expectations.


Memberships and sales have been boosted by the company's efforts to keep gas prices several cents below the national average.


Costco, in contrast to Walmart, reported that there has not been a significant shift from branded products to its private label product, Kirkland Signature.


"We aren't really observing a decline in commerce. This year, more money is being spent on tickets, dining out, travel, tires, and gasoline "In a post-earnings conference call, Robert Nelson, senior vice president of finance and investor relations, said.


Costco's gross margins decreased by 99 basis points in the third quarter.


According to data from Refinitiv IBES, Costco's total sales for the quarter ending May 8 increased by 16 percent to $52.60 billion, surpassing analysts' projections of $51.71 billion.


Excluding adjustments, Costco's earnings per share were $3.17, exceeding analysts' expectations of $3.03.

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