• English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
① Iran 1. Iranian President: Energy production and supply have not been interrupted during the war. 2. Iranian Parliament denies that Ghalibaf resigned as head of the negotiating delegation. 3. Iranian Revolutionary Guard: If another attack is launched against Iran, the war will expand beyond the region. 4. Iranian Foreign Minister Araqchi prepares to travel to the United States to attend a UN meeting. 5. Iranian Revolutionary Guard: The army is on high alert; we treat the ceasefire period as wartime and have used this opportunity to strengthen our combat capabilities. ② United States 1. US military refueling aircraft spotted at an Israeli airport. 2. Trump: Netanyahu will act as I ask. I am not in a hurry about the Iran issue. 3. US Treasury Secretary Bessenter: Discussed the Iran issue with the Qatari Finance Minister in Paris. 4. US Military: US Marines boarded a commercial oil tanker flying the Iranian flag on Wednesday. ③ Israel 1. Israeli media: Trump and Netanyahu spoke by phone last night; the call was described as "long and tense." 2. Israeli Military: We attacked Hezbollah weapons production facilities in the Tour region of southern Lebanon on Monday. ④ Strait of Hormuz 1. Iran proposes cooperation with Oman to build a long-term security mechanism for the Strait of Hormuz. 2. US Central Command: As of May 20, US forces have redirected 90 ships. 3. South Korea coordinated with the Iranian Islamic Revolutionary Guard Corps on Wednesday regarding passage through the strait. 4. Iranian Revolutionary Guard Corps: The situation in the Strait of Hormuz cannot return to its previous state. The only way out for the enemy is to respect the Iranian nation and abide by Irans legitimate rights. 5. Commander of the Iranian Revolutionary Guard Corps Navy: In the past 24 hours, 26 ships have passed through the strait under the coordination and security of the navy. 6. Iran stated that at the entrance to the Strait of Hormuz, illegal and covert oil tankers have been identified and punished. 7. Iran released a video showing a drone targeting an oil tanker that passed through the Strait of Hormuz without prior coordination from Iranian authorities. 8. Iranian Foreign Ministry: The passage of the United States and Israel through the Strait of Hormuz cannot be allowed, as it would affect our national security. ⑤ Ceasefire Negotiations 1. Iran and the United States are reportedly to hold a new round of negotiations after the Hajj season ends. 2. Iran says it will continue negotiations despite "strong distrust of the United States." 3. Iranian Foreign Ministry: Pakistani Interior Minister visits Iran to facilitate information exchange. 4. Trump: US-Iran negotiations have entered the final stage. A more severe strike against Iran is possible, but an agreement will be observed first. 5. Sources: The US is showing limited flexibility but will not compromise on nuclear demands and the Strait of Hormuz. 6. Iranian Foreign Ministry: The US must demonstrate goodwill and end "piracy" against Iranian vessels. Iran demands an end to all conflicts and the release of Iranian assets. 7. Iran is reviewing the latest US proposal and has not yet responded. 8. Pakistani Interior Minister appears in Tehran on Wednesday and meets with the commander of the Iranian Revolutionary Guard, the Iranian president, and the Iranian Interior Minister. SpaceX: Will allow shares to be released early in stages before the 180-day lock-up period expires, with the stages linked to company profits, stock price and timeframes.Nvidia CEO Jensen Huang: SRAM-based AI chips, including our own products, will be a niche product for some time to come.SpaceX: On January 13, 2026, the Board of Directors approved granting Musk 1 billion restricted Class B common stock shares based on performance.Nvidia (NVDA.O) CFO: The tax rate for fiscal year 2027 is expected to be 16% to 18%, lower than the initial forecast.

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

Charlie Brooks

May 27, 2022 09:50

C2.png


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.