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Seres: December new car deliveries exceeded 57,000 units, setting a new monthly delivery record. New car deliveries are projected to exceed 420,000 units by 2025.January 1st - Question: The EU Carbon Border Adjustment Mechanism (CBAM) will officially come into effect on January 1, 2026. The EU has recently released a series of legislative proposals and implementation rules related to the CBAM. What is the Ministry of Commerces comment on this? China hopes that the EU will abide by international rules related to climate and trade, abandon unilateralism and protectionism, maintain open markets, and promote the liberalization and facilitation of trade and investment in the green sector based on the principles of fairness, science, and non-discrimination. China is willing to work with the EU to address the challenges of global climate change, but will resolutely take all necessary measures to respond to any unfair trade restrictions and safeguard its own development interests, the legitimate rights and interests of Chinese enterprises, and the stability of global industrial and supply chains.January 1st - On January 1st, the Zhangzhou Nuclear Power Plant Unit 2, the worlds largest "Hualong One" nuclear power base, officially commenced commercial operation. This marks the full completion and commissioning of the first phase of the Zhangzhou Nuclear Power Project, and represents a crucial step forward in the mass production of my countrys independently developed third-generation nuclear power technology, "Hualong One." The Zhangzhou Nuclear Power Base plans to construct six "Hualong One" units. With the two units from the first phase now fully operational, the base can provide approximately 20 billion kilowatt-hours of clean electricity annually, equivalent to reducing carbon dioxide emissions by about 16 million tons.On January 1st, the Heilongjiang Provincial Department of Commerce issued an announcement regarding the 2026 consumer goods trade-in policy. The announcement stated that individual consumers who transfer ownership of a passenger vehicle registered in their name and purchase a new energy passenger vehicle listed in the Ministry of Industry and Information Technologys "Catalogue of New Energy Vehicle Models Eligible for Vehicle Purchase Tax Reduction or Exemption" or a gasoline passenger vehicle with an engine displacement of 2.0 liters or less will receive a one-time subsidy. For the purchase of a new energy passenger vehicle meeting the above conditions, a subsidy of 8% of the new vehicles sales price will be provided, with a maximum subsidy of 15,000 yuan; for the purchase of a gasoline passenger vehicle meeting the above conditions, a subsidy of 6% of the new vehicles sales price will be provided, with a maximum subsidy of 13,000 yuan. Subsidies will also be provided according to nationally unified categories and standards for individual consumers purchasing six categories of home appliances with energy efficiency or water efficiency standards (refrigerators, washing machines, televisions, air conditioners, water heaters, and computers), as well as four categories of digital and smart products with a single sales price not exceeding 6,000 yuan: mobile phones, tablets, smartwatches (bracelets), and smart glasses. The subsidy standard is 15% of the final sales price of the above-mentioned products after deducting discounts at each stage. Each person can receive a subsidy for one item per category. Among them, the subsidy for each home appliance product shall not exceed 1,500 yuan, and the subsidy for each digital and smart product shall not exceed 500 yuan. Individual consumers who have already received subsidies in 2025 can continue to receive subsidies in 2026, and the participation method is the same.January 1st - According to a report by Sputnik News on January 1st, Belarusian President Lukashenko stated on December 31st, 2025, that Russia used the Hazel hypersonic missile system in 2024 to destroy Ukraines Yuzhno-Mashproekt plant in one minute. Lukashenko said, "(That was) a huge enterprise, one of the most unique enterprises during the Soviet era, with five to seven underground levels, when (the Soviet Union) was preparing for nuclear war. The Hazel missile struck Yuzhno-Mashproekt, and such a world-class, giant, unique enterprise ceased to exist in one minute."

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.