• English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
JPMorgan Chase lowered its price target for Chevron (CVX.N) from $224 to $190.On July 10th, the National Energy Administration issued the "Action Plan for Energy Conservation and Carbon Reduction in the Energy Sector (2026-2028)". The plan proposes to vigorously promote energy conservation and carbon reduction in thermal power. It calls for the orderly and prudent shutdown of a number of qualified 300 MW and below coal-fired power units, and encourages the construction of replacement units according to the requirements of next-generation coal-fired power. It also promotes the implementation of ultra-critical (supercritical) generational upgrades for a number of 600 MW coal-fired power units. Support is provided for qualified units to undergo zero-carbon and low-carbon fuel blending and carbon capture, utilization, and storage (CCUS) retrofits, with a target reduction of approximately 10% in carbon emissions per kilowatt-hour after the retrofits. The plan also calls for the implementation of a number of projects integrating coal-fired power, gas-fired power, and new energy sources, supporting the integration of coal-fired power and new energy sources through methods such as thermal energy storage coupling for peak shaving and integrated peak power generation and transmission, to achieve integrated carbon reduction effects.July 10th – According to the China Academy of Information and Communications Technology (CAICT), the Satellite Communications Working Group of the Industrial Internet Industry Alliance (hereinafter referred to as the "Satellite Communications Working Group") was officially established in Beijing recently, under the guidance of the Information and Communications Administration of the Ministry of Industry and Information Technology. The Satellite Communications Working Group aims to build a platform for industry exchange and cooperation, accelerate breakthroughs in key core technologies for satellite communications, promote technological innovation and development such as non-terrestrial networks (NTN), and pool resources to jointly cultivate an open and shared satellite communications industry ecosystem, contributing to the construction of a manufacturing powerhouse, a space powerhouse, a cyber powerhouse, and a digital China.July 10th - The China Federation of Logistics and Purchasing (CFLP) released the "2026 China Highway Transport Capacity Development Report" today (July 10th). According to the report, the highway transport market will continue to adjust and optimize in 2025, with the capacity structure accelerating its upgrade towards large-scale, professional, and green development. Enterprises risk resistance and resilience in normalized operations have improved. Survey data shows that fuel-powered vehicles still dominate the current highway freight capacity structure, accounting for approximately 50%, but new energy vehicles have formed an irreversible substitution trend in specific scenarios. Among the surveyed enterprises, the penetration rate of new energy trucks is 44.4%. Of the enterprises that have already purchased new energy vehicles, 37.5% chose to "continue to expand their new energy vehicle fleet," and 37.5% chose to "maintain their existing scale."The main Shanghai silver futures contract surged 4.00% intraday, currently trading at 14,805.00 yuan/kg.

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.