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On September 15th, data from the National Bureau of Statistics showed that in August, the year-on-year decline in new residential property prices in first-tier cities was 0.9%, a decrease of 0.2 percentage points compared to the previous month. Specifically, prices in Beijing, Guangzhou, and Shenzhen fell by 2.3%, 1.9%, and 2.3% respectively, while Shanghai saw an increase of 3.0%. In second- and third-tier cities, the year-on-year declines in new residential property prices were 2.7% and 4.1% respectively, both narrowing by 0.1 percentage points. In August, the year-on-year decline in existing residential property prices in first-tier cities was 2.7%, a decrease of 1.0 percentage point compared to the previous month. Specifically, prices in Beijing, Shanghai, Guangzhou, and Shenzhen fell by 3.5%, 0.8%, 3.8%, and 2.7% respectively. In second- and third-tier cities, the year-on-year declines in existing residential property prices were 4.9% and 5.6% respectively, both narrowing by 0.2 percentage points.New Residential Housing Prices: 1. Beijing: August new residential housing prices -0.2% month-on-month (previous value -0.3%), -2.3% year-on-year (previous value -2.3%). 2. Shanghai: August new residential housing prices +0.4% month-on-month (previous value +0.2%), +3.0% year-on-year (previous value +3.0%). 3. Guangzhou: August new residential housing prices +0.1% month-on-month (previous value +0.1%), -1.9% year-on-year (previous value -2.2%). 4. Shenzhen: August new residential housing prices +0.2% month-on-month (previous value +0.2%), -2.3% year-on-year (previous value -2.9%). Second-hand Residential Housing Prices: 1. Beijing: August second-hand residential housing prices -0.1% month-on-month (previous value 0.0%), -3.5% year-on-year (previous value -4.5%). 2. Shanghais existing home prices in August increased by 0.3% month-on-month (previous value +0.3%) and decreased by 0.8% year-on-year (previous value -2.0%). 3. Guangzhous existing home prices in August remained unchanged month-on-month (previous value +0.4%) and decreased by 3.8% year-on-year (previous value -4.7%). 4. Shenzhens existing home prices in August increased by 0.1% month-on-month (previous value +0.2%) and decreased by 2.7% year-on-year (previous value -3.6%).National Bureau of Statistics: Beijings second-hand housing prices in August decreased by 0.1% month-on-month (previous value +0%) and decreased by 3.5% year-on-year (previous value -4.5%).According to the National Bureau of Statistics, the price of second-hand residential properties in Shenzhen rose 0.1% month-on-month in August (up 0.2% in the previous month) and fell 2.7% year-on-year (down 3.6% in the previous month).September 15th - The 2026 China Carbon Market Conference was held in Wuhan, Hubei Province this morning, and the "National Carbon Market Development Report (2026)" was released at the conference. Reporters learned that as of the end of August, the national carbon emission trading market had accumulated transactions exceeding 900 million tons, with a transaction value exceeding 60 billion yuan. The national carbon market has grown from nothing to a significant stage, playing a crucial role in promoting the achievement of carbon peaking and carbon neutrality goals.

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.