Costco 4Q profits rise, helped by pandemic shopping habits
ISSAQUAH, Wash. โ Warehouse retail chain Costco Wholesale said its fourth-quarter profits rose slightly from a year ago, its profits weighed by wage premiums paid to employees during the pandemic. In a quarter during which Costco saw a surge of online shopping, the company based in Issaquah, Washington, said it earned $951 million, or $2.14 per share. The average estimate of 13 analysts surveyed by Zacks Investment Research was for earnings of $2.42 per share in the latest quarter. The company also is seeing a jump in online shopping, notable for the chain mostly known for its mammoth warehouse stores. Six analysts surveyed by Zacks expected $44.5 billion.
Wholesale prices surge 1.3%, led by health care and energy
U.S. wholesale prices rose 0.3% in August 2020, just half the July gain, as food and energy prices decline. (AP Photo/Nati Harnik, File)WASHINGTON โ U.S. wholesale prices surged by a record 1.3% in January, led by big gains in health care and energy prices. The increase reflected 1.2% jump in health care services and a 5.1% rise in energy prices, the biggest gain since a 9% rise in June. The January increase means wholesale prices rose by 1.7% over the past 12 months, the sharpest increase over a similar period on record. Core inflation, which excludes volatile energy and food, rose 1.2% in January, and 2% over the past 12 months.
December wholesale prices up 0.3% with sharp jump in energy
U.S. wholesale prices rose 0.3% in December led by a the biggest jump in energy costs since June. (AP Photo/LM Otero, File)WASHINGTON โ U.S. wholesale prices rose 0.3% in December led by a the biggest jump in energy costs since June. The December increase reflected a 5.5% surge in energy costs, the biggest gain since a 9.6% jump in June. Gasoline prices rose 16.1% in December and accounted for nearly half of the increase in goods prices last month. Over the past 12 months, inflation at the wholesale level has risen a modest 0.8%.