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Spot silver fell more than 1.00% on the day, currently trading at $83.29 per ounce.According to Futures News on February 12, the worlds largest silver ETF, iShares Silver Trust, increased its holdings by 19.73 tons from the previous day, with its current holdings at 16,236.18 tons.1. The three major U.S. stock indexes closed slightly lower. The Dow Jones Industrial Average fell 0.13% to 50,121.4 points, the S&P 500 was flat at 6,941.47 points, and the Nasdaq Composite fell 0.16% to 23,066.47 points. IBM fell more than 6%, and Salesforce fell more than 4%, leading the decline in the Dow. The Wind U.S. Tech Big Seven Index fell 0.57%, with Google and Microsoft falling more than 2%. The Nasdaq China Golden Dragon Index fell 0.65%, with Hesai Technology falling nearly 6% and Huya falling more than 5%. 2. The three major European stock indexes closed mixed. The German DAX fell 0.53% to 24,856.15 points, the French CAC40 fell 0.18% to 8,313.24 points, and the UK FTSE 100 rose 1.14% to 10,472.11 points. 3. International precious metals futures generally closed higher, with COMEX gold futures rising 1.53% to $5107.80 per ounce and COMEX silver futures rising 4.60% to $84.08 per ounce. 4. The most active US crude oil contract closed up 1.45% at $64.89 per barrel; the most active Brent crude oil contract rose 1.15% to $69.60 per barrel.Key Futures Data and Events to Watch Today (February 12, 2026), Thursday: 1. IEA Monthly Oil Market Report; 2. Conab Fifth Brazil 2025/26 Grain Production Survey Results; 3. China Rebar Weekly Mill Production and Inventory Report (to February 12); 4. US Net Export Sales Report (to February 5, 2025/2026 Marketing Year); 5. US Initial Jobless Claims (to February 7).Reserve Bank of Australia Governor Bullock: We will continue to monitor the data and will take action if inflation remains high.

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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