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On March 24, it was reported that on the morning of March 23, Shen Zhulin, Vice Chairman of the National Development and Reform Commission (NDRC), met with Mr. Kelley, Chairman of the Executive Board of BASF Group, at the NDRC headquarters. The two sides exchanged views on topics including Chinas 15th Five-Year Plan (2016-2020), the green and low-carbon development of the chemical industry, and BASFs development in China. Shen Zhulin stated that the 15th Five-Year Plan (2016-2020) clearly defines key development directions such as green development, digitalization, building a strong domestic market, and expanding high-level opening-up, providing new development opportunities for foreign-invested enterprises, including BASF, in China. China welcomes BASF to expand its investment in China, strengthen technological innovation and the application of new technologies, increase product added value, and expand its development space.On March 24, Nongfu Spring (09633.HK) announced in Hong Kong that its total revenue for 2025 was RMB 52.553 billion, an increase of 22.5% year-on-year; profit attributable to owners of the parent company was RMB 15.868 billion, an increase of 30.9% year-on-year; basic earnings per share were RMB 1.411, an increase of 30.9% year-on-year; and a final dividend of RMB 0.99 per ordinary share was proposed (totaling approximately RMB 11.134 billion in dividends).Li Auto (LI.O) shares rose more than 4% in pre-market trading after the company announced a $1 billion share buyback program.Li Auto (LI.O) shares rose more than 1.5% in pre-market trading.Li Auto (LI.O) announced a $1 billion share buyback program.

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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