关税影响

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依依股份(001206):关税影响有限,利润率逆势改善,中报分红回报股东
Shenwan Hongyuan Securities· 2025-08-25 13:12
上 市 公 司 美容护理 2025 年 08 月 25 日 依依股份 (001206) ——2025 年中报点评:关税影响有限,利润率逆势改善, 中报分红回报股东! 报告原因:有业绩公布需要点评 投资要点: ⚫ 风险提示:海外需求增速放缓,国际贸易摩擦加剧。 zhanght@swsresearch.com 财务数据及盈利预测 | | 2024 | 2025H1 | 2025E | 2026E | 2027E | | --- | --- | --- | --- | --- | --- | | 营业总收入(百万元) | 1,798 | 888 | 1,980 | 2,313 | 2,681 | | 同比增长率(%) | 34.4 | 9.3 | 10.2 | 16.8 | 15.9 | | 归母净利润(百万元) | 215 | 102 | 238 | 280 | 326 | | 同比增长率(%) | 108.3 | 7.4 | 10.6 | 17.6 | 16.3 | | 每股收益(元/股) | 1.18 | 0.55 | 1.29 | 1.51 | 1.76 | | 毛利率(%) | 19.6 | 19.0 | ...
Keurig Dr Pepper Slides In Premarket After Announcing $18 Billion JDE Peet's Acquisition
Forbes· 2025-08-25 12:15
ToplineKeurig Dr Pepper announced it will acquire coffee and tea firm JDE Peet’s in a deal worth around $18.3 billion, and the combined entity will then split its coffee and beverage businesses, in a move that comes amid rising coffee bean prices due to tariffs.After the merger Dr Pepper and other soft drink brands owned by Keurig Dr Pepper will be split from the coffee business.Getty ImagesKey FactsAccording to Keurig Dr Pepper’s announcement, the acquisition is an all-cash deal where the beverage giant wi ...
澳新银行:鲍威尔杰克逊霍尔央行年会上的讲话为9月降息埋下伏笔
Sou Hu Cai Jing· 2025-08-24 23:53
澳新 银行在给客户的报告中称,美联储主席杰罗姆·鲍威尔正确地指出了美国劳动力市场在未来一个月 可能迅速走弱的风险,这使得恢复货币宽松政策成为必要。鲍威尔的基本假设是,关税将导致一次性价 格上涨,但可能需要一段时间才能完全显现。澳新银行表示,早期数据表明关税对消费者价格的影响似 乎是暂时的。这与稳定的通胀预期一起,支持了逐步宽松的立场,该行补充道。澳新银行称,杰克逊霍 尔的演讲为美联储 9 月会议降息 25 个基点铺平了道路。 ...
昨夜,全线上涨
Sou Hu Cai Jing· 2025-08-23 00:45
美东时间周五,美联储主席鲍威尔发声,市场解读为"放鸽",美股、美债大涨,美元应声下跌。 美股三大指数收盘全线上涨,截至收盘,道琼斯指数涨1.89%,收于45631.74点,创下历史新高;标普500指数涨1.52%,收 于6466.91点,结束了此前连续五日下跌态势;纳斯达克综合指数涨1.88%,报21496.53点。 | 道琼斯 | 纳斯达克 | 标普 500 | | --- | --- | --- | | 45631.74 | 21496.53 | 6466.91 | | 846.24 1.89% | 396.22 1.88% | 96.74 1.52% | 美国总统特朗普在访问华盛顿一所白宫主题博物馆时表示,如果美联储理事丽莎·库克不主动辞职,他将予以解职。库克在 回应中强调,自己不会屈服于外部压力。 国际评级机构惠誉最新确认美国评级为"AA+",展望稳定;加拿大宣布取消多项针对美国商品的报复性关税。 美股三大指数全线上涨 热门科技股普涨,特斯拉涨6.22%,创2个月以来最大单日涨幅;亚马逊涨3.10%,Meta涨2.12%,英伟达涨1.72%,苹果涨 1.27%,微软涨0.59%;Opendoor涨超3 ...
鲍威尔放鸽!美股大涨!强调就业风险,为降息敞开大门,预计关税一次性推升价格,但需时间体现影响(鲍威尔讲话全文)
美股IPO· 2025-08-22 22:49
鲍威尔说,劳动力市场指标稳定使联储能谨慎考虑政策调整,基准前景和风险平衡变化可能需要联储调整政策立场;劳动力市场因供需双双大幅放缓而实 现"奇特平衡",这暗示就业的下行风险增加;短期内,通胀风险偏上行,就业风险偏下行,局面有挑战;货币政策框架调整,删除寻求一段时间内达到 平均2%的通胀目标、以及以偏离充分就业水平作为决策依据。"新美联储通讯社":鲍威尔强调就业担忧,为最快9月降息铺路;他首次暗示,对关税将 相对短暂影响价格的基准假设更有信心。 美联储主席鲍威尔在杰克逊霍尔央行年会上发表重磅讲话,认为当前的形势意味着,就业面临的下行风险上升。这种风险平衡的转变可能意味着需要降 息。 鲍威尔在演讲开头就指出,今年,美联储实现就业和通胀双重使命面临的"风险平衡似乎正在发生转变。" 他认为,当前经济状况对货币政策的影响是: "失业率和其他劳动力市场指标的稳定使我们能谨慎考虑政策立场的调整。然而,由于政策处于限制性区间,基准前景和不断变化的风险平衡可能需要我们调整 政策立场。" 关于劳动力市场,鲍威尔表示: " 总体来看,劳动力市场虽处于平衡,但这是一种因劳动力供需双双大幅放缓所致的' 奇特平衡'。这种异常形势暗示就业 ...
鲍威尔杰克逊霍尔讲话要点一览
Sou Hu Cai Jing· 2025-08-22 15:01
来源:滚动播报 1. 利率指引:鲍威尔为美联储9月降息敞开大门,他表示:基线前景和风险平衡的变化可能需要我们调 整政策立场。 2. 就业市场:劳动力市场仍接近充分就业水平。就业市场的平衡源于劳动力供需两端的 显著放缓,这种异常情况意味着就业下行风险正在上升。 3. 通胀前景:短期内通胀风险偏上行。基于 市场和调查的长期通胀预期指标似乎仍保持稳定。不会允许价格水平的一次性上涨演变为持续性通胀问 题。 4. 关税影响:关税对消费价格的影响现已清晰显现,预计未来几个月这种影响将持续累积,但具 体时机与幅度仍存在高度不确定性。关税的影响将相对短暂,属于价格水平的一次性变动。 5. 框架调 整:美联储采用新的政策框架,删除了关于追求"通胀在长期内平均达到2%"的表述,以及将就业决策 建立在"与最大就业水平的缺口"评估上的表述。 ...
美联储官员表态削弱9月降息押注 美债收益率走高约4BP
Xin Hua Cai Jing· 2025-08-22 00:37
新华财经北京8月22日电美国国债收益率周四(8月21日)全面上涨,市场对美联储将于9月降息的押注 继续减少。截至21日纽市尾盘,10年期美债收益率涨3.70个基点,报4.33%;2年期美债收益率涨4.40个 基点,报3.79%,盘中一度升穿3.80%。 收益率曲线中段普遍上行超过4个基点,超长端涨幅超过2个基点。 克利夫兰联储主席贝丝·哈马克当天表示,"目前通胀水平依旧过高,并且在过去一年呈上升趋势。就我 掌握的信息来看,如果明天召开议息会议,我看不到有理由降低利率。" 哈马克说:"综合权衡后,我认为维持适度紧缩的政策立场至关重要,唯有如此,才能继续推动通胀回 归目标区间。" 哈马克认为,没有明显的经济衰退迹象,当然也就没有理由采取刺激政策。她承认劳动力市场存在一些 担忧,但同时指出,失业率仍接近她所认为的"充分就业"水平。 对于关税影响,哈马克表示,其对经济的影响才刚刚开始显现,不确定关税是一次性冲击还是更持久的 冲击,但全面影响要到明年才能看清。 当天稍早,亚特兰大联储主席博斯蒂克表示,他仍认为美联储今年可降息一次,但同时指出,在经济正 经历深刻变革的背景下,这一判断存在极大不确定性。 博斯蒂克认为,当前 ...
Ross Stores(ROST) - 2026 Q2 - Earnings Call Transcript
2025-08-21 21:17
Financial Data and Key Metrics Changes - Total sales for the second quarter grew 5% to $5.5 billion, up from $5.3 billion last year, with comparable store sales increasing by 2% [7] - Earnings per share for the second quarter were $1.56 on net income of $508 million, compared to $1.59 per share on net earnings of $527 million in the prior year [7][8] - Operating margin decreased by 95 basis points to 11.5%, primarily due to tariff-related costs [6][14] Business Line Data and Key Metrics Changes - Cosmetics was the best-performing merchandise area in the second quarter, with strong performance in the ladies' business, which outperformed the chain average [8][29] - Overall comparable store sales at BB's Discounts were solid and ahead of Ross, with both chains experiencing growth in traffic and basket size [9] Market Data and Key Metrics Changes - The strongest markets were the Southeast and the Midwest, with a broad-based improvement in sales trends across nearly all major merchandise categories and regions [5][8] - Total consolidated inventories and average store inventories were up 5% compared to last year, with packaway merchandise comprising 38% of total inventories [9] Company Strategy and Development Direction - The company plans to open approximately 90 new locations this year, including 80 Ross and 10 DD's Discount stores, reflecting expansion into new and existing markets [10] - The company is focused on maintaining its value proposition relative to traditional retailers while balancing the opportunity to preserve merchandise margin [12][20] Management's Comments on Operating Environment and Future Outlook - Management expressed cautious optimism regarding the sales outlook for the second half of the year, anticipating comparable store sales growth of 2% to 3% [16][33] - The company expects to offset most of the impact of tariffs, although modest pressure is anticipated in the third quarter [12][17] Other Important Information - The company repurchased 1.9 million shares of common stock for an aggregate cost of $262 million, remaining on track to buy back a total of $1.05 billion in stock for the year [15] - Management acknowledged the retirement of CFO Adam Orvos and emphasized the importance of a smooth transition [21] Q&A Session Summary Question: Can you elaborate on the sequential top line improvement and the sharp rebound in July? - Management noted broad-based sequential improvement across nearly every merchandise category, with strong performance in July, particularly in cosmetics and ladies' business [28][29] Question: What are the gross margin drivers for the third and fourth quarters? - Management indicated that tariff costs would continue to impact gross margins, but they expect the pressure to be slightly lower than in the second quarter [31] Question: How is the customer responding to price increases? - Management stated that there has been a very modest change in prices, with a cautious approach to raising prices while monitoring competitors [38][39] Question: What initiatives are being implemented to improve store operations? - Management highlighted store refreshes, self-checkout pilots, and new marketing campaigns as key initiatives to enhance customer experience and drive sales [44][49] Question: Are there any changes in consumer demographics or trade down activity? - Management reported no significant changes in income cohorts but noted strong performance in stores with a high concentration of Hispanic customers [65][66] Question: What actions are being taken to mitigate tariff impacts? - Management emphasized efforts in vendor negotiations, diversifying sourcing, and increasing closeout merchandise to mitigate tariff impacts [71][72]
Retractable Technologies Stock Gains Following Q2 Earnings Growth
ZACKS· 2025-08-21 19:51
Shares of Retractable Technologies, Inc. (RVP) have gained 5.8% since the company reported its second-quarter 2025 earnings, sharply outperforming the S&P 500 Index’s 1.1% decline in the same period. Over the past month, RVP stock surged 26.7%, while the broader market benchmark rose 1.5%.RVP’s Earnings SnapshotRetractable Technologies posted net sales of $10.4 million for the second quarter of 2025, up 73.2% from $6 million in the prior-year quarter. However, the company reported an operating loss of $5.1 ...
美联储会议纪要:多数官员恩威,通胀风险超过就业风险,多数人提到关税的影响全面显现出来需要一段时间
Hua Er Jie Jian Wen· 2025-08-20 18:04
Core Viewpoint - The Federal Reserve's meeting minutes indicate that most officials prioritize inflation risks over employment risks, suggesting a shift in focus towards managing inflationary pressures [1] Summary by Relevant Categories Inflation Risks - Majority of officials expressed that inflation risks are currently more significant than employment risks, indicating a potential tightening of monetary policy to combat inflation [1] Tariff Impact - Many officials noted that the effects of tariffs are becoming more apparent and will require time to fully manifest, suggesting ongoing economic adjustments related to trade policies [1]