印度已将食用油的基本进口关税减半至10%，从5月31日起生效，以控制当地价格并支持食用油加工 业。（彭博） ...

Financial Data and Key Metrics Changes - Total sales grew by 6% compared to 11% growth last year, while comparable store sales were flat, following 2% growth last year [8][29] - EBIT margin increased by 30 basis points, and adjusted EPS was up 18% over last year despite flat comparable sales [10][29] - Gross margin rate for Q1 was 43.8%, an increase of 30 basis points year-over-year, driven by a 20 basis point increase in merchandise margin [27] Business Line Data and Key Metrics Changes - The company experienced a flat comp sales trend across all demographic trade areas, indicating a broad-based slowdown [18][68] - Reserve inventory was up 31% compared to last year, reflecting strong purchasing ahead of tariffs [30][76] Market Data and Key Metrics Changes - The company noted a deceleration in comp sales from Q4 to Q1, with concerns about macroeconomic indicators and potential recession risks [19][84] - The Southeast region outperformed the chain, while the Midwest region trailed due to unfavorable weather [96] Company Strategy and Development Direction - The company is focused on its "Burlington Two Point O" strategy, emphasizing merchandising capabilities and store experience improvements [23][107] - Plans to open 100 net new stores in 2025, with a significant portion expected to open in the latter half of the year [34][116] Management's Comments on Operating Environment and Future Outlook - Management expressed caution regarding the impact of tariffs and the state of the consumer, highlighting the need for flexibility in operations [13][20] - The company is prepared to navigate potential challenges and believes it can emerge stronger from the current environment [17][37] Other Important Information - The company has a new $500 million share repurchase authorization approved by the Board of Directors [30] - Total liquidity at the end of the quarter was approximately $1.1 billion, consisting of cash and availability on the ABL [30] Q&A Session Summary Question: Impact of tariffs on off-price retail - Management indicated that disruption from tariffs could create both risks and opportunities for off-price retailers, depending on the situation [40][46] Question: Monthly comp sales trend in Q1 - Comp sales were down about 2% in February, improved in March, and were flat in April, with May showing similar trends [58][60] Question: Comp performance by demographic - Lower income trade areas outperformed the rest of the chain, while Hispanic consumer trends remained stable [68][72] Question: Freight costs and guidance - Guidance is contingent on holding ocean freight costs to contracted rates, with potential risks from spot market exposure [90][93] Question: Store openings and layout - The company expects 25% of new stores to open in the first half of 2025, with the majority in the third quarter, including newly acquired Joann's locations [116]

Core Viewpoint - Eli Lilly's stock has experienced significant volatility during Trump's second term, primarily due to the potential implementation of tariffs on pharmaceutical imports, which could negatively impact the company and the industry as a whole [1][2][3]. Group 1: Tariffs and Their Impact - President Trump has proposed a 25% tariff on imported drugs, although these tariffs have not yet been implemented [2]. - Eli Lilly's CEO acknowledged that expanding tariffs would negatively affect the company and the pharmaceutical industry, but did not specify the potential impact [3]. - The U.S. imported nearly $50 billion in pharmaceutical products from Ireland last year, making it a likely target for tariffs, which could pose a significant challenge for Lilly [4]. Group 2: Company Operations and Manufacturing - Most of Eli Lilly's product sourcing outside the U.S. comes from Ireland, with approximately $3.2 billion in long-lived assets reported in Ireland at the end of 2024 [5]. - Lilly has a large U.S. manufacturing footprint and is currently working on 10 active projects to build and expand facilities, aiming to supply the U.S. market entirely from domestic operations [9]. Group 3: Pricing Strategies and Regulatory Risks - President Trump issued an executive order for "most-favored nation" (MFN) drug pricing, which could pose a risk to the industry, although it may face legal challenges [9][10]. - If MFN pricing is implemented, drug manufacturers might adjust their pricing strategies to maintain profitability, such as increasing list prices in other countries while offering discounts [11]. Group 4: Future Outlook - The outcomes of the proposed tariffs and MFN drug pricing remain uncertain, but it is believed that Eli Lilly and other major pharmaceutical companies will navigate these challenges effectively [12].

美国初请失业金人数下降 劳动力市场保持稳定 金十数据5月22日讯，美国上周初请失业金人数下降，表明美国经济在5月份保持了稳定的就业增长步 伐。美国劳工部周四公布，截至5月17日当周初请失业金人数减少2,000人，经季节调整后为22.7万人。 路透调查的经济学家此前预计，上周初请失业金人数为23万人。他们预计，未来几周初请失业金人数将 升至今年20.5万至24.3万人区间的上限，主要原因是难以根据季节波动调整数据。这并不意味着劳动力 市场状况发生了重大变化。尽管美国总统特朗普不断变化的贸易政策导致经济不确定性上升，但雇主基 本上不愿裁员。然而，经济学家预计，由于政府的进口关税抑制了需求，扰乱了供应链，并加剧了通 胀，2025年下半年裁员将会增加。 ...

欧洲议会批准对俄罗斯和白俄罗斯化肥征收壁垒税 智通财经5月22日电，尽管欧洲农民提出抗议，担心主要商品价格飙升，欧洲议会周四还是以多数票批 准对来自俄罗斯和白俄罗斯的农产品和化肥征收新的进口关税。新关税预计将从今年7月起分阶段实 施，为期三年。 ...

保时捷首席执行官：我们正在评估关于美国进口关税的不同方案，但我们不打算在美国建立生产基地。 ...

美国商品与股票经纪商StoneX能源分析师艾利克斯·霍兹（Alex Hodes）说，伊朗高级官员的表态打压市 场对美国与伊朗将达成核问题协议的期望。如果美国与伊朗就核问题能达成协议，将为美国减轻对伊朗 的制裁铺平道路，伊朗日均石油出口量可能增加30万桶-40万桶。这一潜力现在看起来非常不可能实 现。 新华财经纽约5月19日电（记者刘亚南）由于中东以及俄乌冲突相关动态刺激，国际油价在隔夜市场走 低，19日早盘窄幅盘整，午间有所上涨，午后回吐涨幅，收盘时国际油价均小幅上涨。 截至当天收盘，纽约商品交易所6月交货的轻质原油期货价格上涨0.20美元，收于每桶62.69美元，涨幅 为0.32%；7月交货的伦敦布伦特原油期货价格上涨0.13美元，收于每桶65.54美元，涨幅为0.20%。 伊朗媒体19日以伊朗外交部副部长马吉德·塔赫特-拉万希为消息源报道，如果美国坚持要求伊朗停止铀 浓缩，伊朗与美国就核协议的谈判将"毫无结果"。 伊朗外交部长阿巴斯·阿拉格齐18日说，美国方面对于伊朗铀浓缩活动"不切实际的期望"将对双方围绕 伊朗核计划进行的谈判构成阻碍。 美国财政部长贝森特表示，对于没有与美国认真谈判的贸易伙伴，美国总统 ...

SHMET 网讯： 5月16日（周五），铜价走低，但本周有望上涨，不过长期铜需求的前景存在不确定性，限制了铜价的进一步上涨。 上海期货交易所交投最活跃的6月期铜合约白盘收盘下跌250元或0.32%，报每吨78,140元。 本周，LME期铜上涨约1%，上海铜价上涨约0.6%。 一位金属分析师表示："交易商中美贸易决定感到高兴，但市场对90天后会发生什么仍然不确定。" 对于关税进展的最初乐观情绪已消退。市场目前关注的焦点是美国考虑的对铜进口征收新关税的可能性。 北京时间16:59，伦敦金属交易所（LME）指标期铜合约下跌81.5美元或0.85%，至每吨9,495.5美元。 上海期交所监测仓库的铜库存本周激增34%至108,142吨。 "铜库存增加并不奇怪，只是速度可能有点太快，这可能会在短期内给铜价增加压力，"交易商说道。 其他LME金属方面，三个月期铝报每吨2,468.5美元，下跌0.8%；三个月期锌报每吨2,694.5美元，下跌1.1%；三个月期铅报每吨1,983美元，下跌1.1%；三个 月期锡报每吨32,800美元，下跌0.5%。 分析师预计，短期内沪铜将在每吨78,000-79,000元左右徘徊，反映出市 ...

转自：新华财经 新华财经纽约5月14日电（记者刘亚南）由于美国长期国债收益率显著走高，14日美元兑除日元以外的 一揽子货币走高，美元指数在隔夜市场下跌，当日盘中强势盘整，午后由跌转涨，尾盘时美元指数小幅 上涨。 衡量美元对六种主要货币的美元指数当天上涨0.03%，在汇市尾市收于101.037。 芝加哥联邦储备银行行长奥斯坦·古尔斯比（Austan Goolsbee）说，4月份温和的消费者价格通胀并不必 然反映出美国进口关税上涨的影响，美联储仍需要更多数据来确定物价和经济的走向。 投资银行杰富瑞集团执行董事、全球外汇业务负责人布拉德•贝克特尔（Brad Bechtel）表示，显然，这 些天大家都聚焦于贸易方面，这在某种程度上依然是引起市场变化的一大刺激因素。 贝克特尔说，虽然亚洲货币有很多波动，但美元应该仍处于逆趋势的反弹中，并最终将会开始再次走 低，一些幕后安排可能是其中的原因。 市场传闻美国在贸易谈判中寻求让美元走弱，但彭博社报道援引匿名消息人士的话对此予以否认。 外汇经纪商Monex美国公司在14日早间表示，在G10国家货币中， 日元当日早间对美元涨幅最大。除了 受到美国可能会在贸易谈判中涉及汇率话题带来 ...

美联储古尔斯比：美联储等待了解关税影响，数据仍显嘈杂 金十数据5月14日讯，美联储古尔斯比周三表示，显示4月份消费者通胀温和的数据并不一定反映出美国 进口关税上升的影响，美联储仍需要更多的数据来了解物价和经济的走向。古尔斯比表示，"空气中有 时会有很多灰尘，我们听到了一堆噪音……我们正试图找出那条主线。" ...