• English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
The company stated on its interactive platform that it has not yet engaged in any commercial spaceflight-related businesses.On January 20th, a research report from CICC pointed out that the recent accelerated appreciation of the RMB exchange rate is likely due to a seasonal increase in foreign exchange settlement demand in December. Increased corporate funding needs at the end of the year lead to a strong seasonality in foreign exchange settlement, typically accelerating in December and January. On average, from 2013 to 2024, the RMB/USD central parity rate is projected to appreciate by 0.5% and 0.8% in December and January respectively, with probabilities of appreciation of 75% and 67%. Beyond a trade perspective, we believe that assessing exchange rates should also consider the financial cycle perspective.1. US media: Dark Side of the Moons valuation rises to $4.8 billion. 2. US media: OpenAI plans to launch its first hardware device in 2026. 3. MiniMax CEO Yan Junjie attends Premiers symposium, becoming the second AI large-scale model company representative to participate. 4. Musk: AI5s dual-chip collaboration is equivalent to Nvidias Blackwell level. 5. Reports indicate TSMC will invest in building four more advanced packaging facilities in Taiwan this year. 6. Reports indicate SK Hynix completes process upgrade at its DRAM memory wafer fab in Wuxi, Jiangsu, China. 7. Shenzhou-20 spacecraft return capsule successfully lands at Dongfeng Landing Site. 8. New national standards for civilian drones, clarifying registration and activation procedures, are released. 9. Counterpoint: Apples iPhone shipments in China grew by 28% during the holiday season, regaining its number one market position. 1. European stock markets closed lower across the board. The German DAX index fell 1.34% to 24,959.06 points, the French CAC40 index fell 1.78% to 8,112.02 points, and the UK FTSE 100 index fell 0.39% to 10,195.35 points. Market concerns about weakening expectations of a Fed rate cut, weak European economic data, disappointing corporate earnings, and escalating geopolitical tensions fueled risk aversion. 2. The domestic bond market was generally weak and volatile. Most treasury bond futures closed lower, with the 30-year main contract down 0.22% and the 10-year main contract down 0.02%. Yields on most major interbank interest rate bonds rose by less than 1 basis point. 3. International oil prices rose across the board. The WTI crude oil futures contract rose 0.15% to $59.43 per barrel, and the Brent crude oil futures contract rose 0.08% to $64.18 per barrel. 4. All base metals rose in London. LME tin rose 3.87% to $49,840.0/ton, LME nickel rose 3.23% to $18,145.0/ton, LME copper rose 1.44% to $12,987.0/ton, LME aluminum rose 1.01% to $3,165.5/ton, LME lead rose 1.00% to $2,064.5/ton, and LME zinc rose 0.78% to $3,234.0/ton.January 20th - According to CNBC, citing sources, artificial intelligence startup Moonshot AI has increased its valuation by $500 million to $4.8 billion in its latest funding round. Just weeks ago, Moonshot AI was valued at $4.3 billion. The previous funding round was announced on December 31st, and IDG, Alibaba, and Tencent reportedly participated.

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.