Costco Wholesale Corp’s gross margins fell in the first quarter, as the warehouse operator paid higher wages, ramped up investments in its online business and cut prices amid intense competition in the grocery industry.
As store sales fall and purchases shift online over the Thanksgiving weekend, most U.S. retailers have boosted their web offerings but many still overlook the sales impact from opening their doors on Thursday evening.
While China has raised import duties on several categories of U.S. goods, it lowered tariffs on apparel, cosmetics, household goods and jewelry, which could see these industries thrive, according to Cowen and Company.
Though the escalating tensions between the United States and several of its trading partners could hurt companies across a broad range of sectors, several industries are poised to withstand them or even thrive.
Warehouse club operator Costco Wholesale Corp reported third-quarter results that topped analysts’ estimates, but price cuts and higher freight costs weighed on its gross margins, sending its shares lower in trading.
A grocery industry veteran who led U.K. retailer Tesco's online operation was named president of Walmart’s Jet.com e-commerce business in the retail behemoth’s latest move for a bigger piece of the competitive sector.