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UN Secretary-General António Guterres strongly condemns Saturdays attack on the UN Interim Force in Lebanon, which resulted in the death of a French peacekeeper and injuries to three others.On April 19th, Iranian Parliament Speaker Mohammad Ghalibaf posted on social media, stating, "In the third war imposed upon us, we have undoubtedly surpassed our past capabilities in offensive strategy and design, a fact already proven on the battlefield." Ghalibaf claimed that Iran shot down approximately 180 drones, a capability it lacked previously. The downing of the F-35 was not accidental, but rather a comprehensive operation at the technological and design levels, from which the enemy has recognized Irans capabilities and direction. He emphasized that Iran is not militarily stronger than the United States, which possesses more resources, equipment, and experience, and Israel, as its proxy, is also very powerful. However, Iran successfully repelled its enemies through asymmetric warfare design and preparation. While the enemy has money and resources, it has repeatedly made mistakes in strategic decision-making and military design. Ghalibaf also criticized the US government for claiming "America First," but in reality prioritizing Israel and making decisions based on false information from Israel.April 19 – Asian Development Bank President Masato Kanda stated that the yen could face further pressure if the market perceives the Bank of Japan as too slow to address inflation risks. Kanda, a former top foreign exchange diplomat for Japan, told reporters Friday evening that investors are buying dollars during periods of global tension, partly because the US is an oil exporter, but even if these positions are unwound, the yen is unlikely to appreciate significantly against the dollar. He said, “The biggest reason is the interest rate differential. With the market particularly focused on potential actions by the Federal Reserve, if many believe the Bank of Japan will lag behind the curve in addressing inflation risks, the yen will be left behind.” Speaking in Washington this week at meetings of the International Monetary Fund and the World Bank Group, Kanda added that investors might also sell yen if they are concerned about Japan’s fiscal sustainability.The China Earthquake Networks Center officially reported that a magnitude 3.4 earthquake occurred at 05:27 on April 19 in Ando County, Nagqu City, Tibet (32.62 degrees north latitude, 90.36 degrees east longitude), with a focal depth of 10 kilometers.U.S. State Department: All parties agreed to facilitate the free movement of humanitarian personnel, assets, and humanitarian convoys.

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.