• English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
On August 18, according to the National Healthcare Security Administration, the Administration recently conducted research in Enshi, Hubei Province, on the situation of medical insurance support for primary healthcare services. The Administration also sought opinions and suggestions from primary healthcare institutions, some local medical insurance departments, and experts and scholars regarding the selection of primary healthcare diseases for disease-based payment, discussed ways to improve the scope of primary healthcare disease selection, and reached a consensus on reform.August 18th - According to the Financial Times, the head of Libyas National Oil Corporation (NOC) stated that Libya needs up to $40 billion in investment to develop its oil and gas resources in an effort to regain its status as a major global crude oil producer. According to the U.S. Energy Information Administration, the country possesses Africas largest proven oil reserves and has attracted numerous international oil companies seeking new investment opportunities in recent years. However, NOC Chairman Masoud Suleman stated that a shortage of funds is hindering progress. He said, "We have a large amount of untapped resources. We need a lot of capital, approximately between $30 billion and $40 billion." Sulemans goal is to increase Libyan oil production from the current approximately 1.4 million barrels per day to 2 million barrels per day by 2030. He indicated that more than 60 oil and gas fields have been discovered but remain undeveloped. Foreign companies, including Eni, Total Energy, Chevron, and ConocoPhillips, have operations in Libya, but investment progress has been slow.On August 18, the Ministry of Transport announced that it will hold a special press conference at 10:00 AM on August 20, 2026, to introduce the relevant situation of the "Artificial Intelligence + Transportation" typical application scenario innovation action and answer questions from reporters.According to the Financial Times, Libya is seeking up to $40 billion in funding to develop its oil resources.According to the latest data from the General Administration of Customs, Chinas log imports in July 2026 totaled 2.65 million cubic meters, an increase of 6.2% year-on-year. The cumulative log imports from January to July totaled 18.53 million cubic meters, a decrease of 3.9% year-on-year.

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.