天眼查App显示，近日，哈尔滨楼布商贸有限公司成立，法定代表人为于明坤，注册资本10万人民币， 经营范围为一般项目：服装服饰零售；互联网销售（除销售需要许可的商品）；个人卫生用品销售；玩 具销售；木制玩具销售；玩具、动漫及游艺用品销售；模具销售；日用百货销售；日用品销售；日用杂 品销售；鞋帽零售；箱包销售；工艺美术品及收藏品零售（象牙及其制品除外）；工艺美术品及礼仪用 品销售（象牙及其制品除外）；珠宝首饰零售；化妆品零售；通讯设备销售；电子产品销售；摩托车及 零配件零售；汽车零配件零售。（除依法须经批准的项目外，凭营业执照依法自主开展经营活动）。 ...

天眼查App显示，近日，广州壮淮商贸商行（个人独资）成立，注册资本1万人民币，经营范围为保健 食品（预包装）销售;食品销售（仅销售预包装食品）;食品互联网销售（仅销售预包装食品）;互联网销 售（除销售需要许可的商品）;家用视听设备销售;玩具、动漫及游艺用品销售;户外用品销售;箱包销售; 眼镜销售（不含隐形眼镜）;钟表销售;母婴用品销售;礼品花卉销售;日用品销售;个人卫生用品销售;针纺 织品销售;宠物食品及用品零售;五金产品零售;照相器材及望远镜零售;乐器零售;工艺美术品及收藏品零 售（象牙及其制品除外）;珠宝首饰零售;体育用品及器材零售;文具用品零售;厨具卫具及日用杂品零售; 化妆品零售;鞋帽零售;服装服饰零售。 ...

天眼查App显示，近日，广州浩泛商贸商行（个人独资）成立，注册资本1万人民币，经营范围为互联 网销售（除销售需要许可的商品）;卫生洁具销售;灯具销售;玩具、动漫及游艺用品销售;户外用品销售; 箱包销售;眼镜销售（不含隐形眼镜）;钟表销售;母婴用品销售;礼品花卉销售;园艺产品销售;日用品销售; 个人卫生用品销售;针纺织品销售;涂料销售（不含危险化学品）;家具销售;五金产品零售;通信设备销售; 计算机软硬件及辅助设备零售;日用家电零售;照相器材及望远镜零售;乐器零售;工艺美术品及收藏品零 售（象牙及其制品除外）;珠宝首饰零售;体育用品及器材零售;文具用品零售;自行车及零配件零售;厨具 卫具及日用杂品零售;化妆品零售;鞋帽零售;服装服饰零售。 ...

天眼查App显示，近日，深圳市星辰途贸易有限公司成立，法定代表人为姚元戎，注册资本10万人民 币，经营范围为一般经营项目是：宠物食品及用品批发；生物饲料研发；日用木制品制造；玩具、动漫 及游艺用品销售；日用杂品销售；日用品批发；日用杂品制造；日用化学产品制造；运输货物打包服 务；信息技术咨询服务；宠物服务（不含动物诊疗）；宠物销售（不含犬类）；互联网销售（除销售需 要许可的商品）；专业设计服务；平面设计；农业专业及辅助性活动；机械设备研发；农业园艺服务； 农业机械服务；农业机械租赁；软木制品销售；软木制品制造。（除依法须经批准的项目外，凭营业执 照依法自主开展经营活动），许可经营项目是：无。 ...

Group 1 - The core viewpoint of the articles highlights the significant growth and international expansion of Linyi City, which is becoming a hub for trade and logistics, attracting foreign buyers and orders through various exhibitions and trade events [1][2][4] - Linyi City has established itself as a logistics powerhouse with over 136 professional wholesale markets and more than 2,000 logistics routes, achieving a logistics total value exceeding 1 trillion yuan [1] - In 2024, Linyi plans to organize over 2,000 enterprises to participate in international trade, aiming to attract 31,000 foreign buyers for procurement discussions [1][2] Group 2 - The city has introduced the "2025 Linyi Mall Transformation and Upgrade Support Policy," allocating special funds to support international exhibitions, foreign trade cultivation, and brand building [2] - Linyi is enhancing its international trade infrastructure with modern parks and facilities, including an international trade center and cross-border e-commerce industrial parks, to integrate domestic and foreign trade [2][3] - The cross-border e-commerce industrial park collaborates with major platforms like Alibaba and Amazon, digitizing product information and creating a comprehensive B2B platform for international trade [3] Group 3 - Linyi is striving to become an "International Logistics Capital" by establishing transportation hubs and providing "door-to-door" international road transport services, covering regions in Eastern Europe, Central Asia, and Southeast Asia [4] - The city has been a key center for the China-Europe Railway Express, with 452 trains operating in 2024, and has innovated a "public-rail combined transport" model that reduces transportation time by 15% [4] - Linyi is continuously expanding its overseas warehouses and logistics capabilities, focusing on enhancing its influence and expanding its "friend circle" in international trade [4]

Financial Data and Key Metrics Changes - The company reported net sales of $5 billion, an increase of 4.7% year over year [27] - Merchandise comparable sales, excluding gas sales, increased by 3.9% year over year, driven by traffic and units [27] - First quarter earnings per share were $1.13, with adjusted earnings per share of $1.14 [30] Business Line Data and Key Metrics Changes - The perishables grocery and sundries division achieved over 4% comparable sales growth in the first quarter, with unit volumes increasing across all divisions [9] - The general merchandise and services division saw a slight decrease in comparable sales, although positive comps were reported in apparel and toys [10] - Digitally enabled comparable sales grew by 35% year over year, contributing significantly to overall sales growth [28] Market Data and Key Metrics Changes - Total comparable club sales, including gas sales, grew by 1.6% year over year, with first quarter comp gallons rising about 2% year over year [28] - The company gained market share in fuel, with positive gallon growth while the broader industry experienced volume declines [92] Company Strategy and Development Direction - The company is accelerating club openings, with plans to open 25 to 30 new clubs over the next two years [22] - Strategic priorities include improving member loyalty, enhancing the shopping experience, delivering value conveniently, and expanding the footprint [12] - The company is focused on delivering great value and maintaining competitive pricing, with an emphasis on enhancing digital conveniences [19][20] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's ability to navigate the uncertain economic environment and emphasized the importance of delivering value to members [24] - The company is maintaining its initial full-year guidance of 2% to 3.5% comparable sales growth, excluding gas [34] - Management acknowledged the dynamic environment and the potential for wider ranges of outcomes in financial performance [33] Other Important Information - Membership fee income grew by 8.1% to approximately $120.4 million, benefiting from strong membership acquisition and retention [29] - The company ended the first quarter with inventory levels down 2% on a per club basis, indicating effective inventory management [31] Q&A Session Summary Question: Update on real estate strategy and club openings - Management highlighted the success of recent club openings and expressed excitement about the real estate pipeline, aiming to accelerate club openings in new and existing markets [41][46] Question: Long-term membership algorithm and customer engagement - Management confirmed that membership growth remains strong, with a focus on engaging and activating members to drive higher tier penetration [52][54] Question: Margin investments and comp sales expectations - Management indicated that margin investments are focused on delivering value, with expectations that first half comps will be stronger than the second half [60][61] Question: Impact of tariffs on guidance and pricing strategy - Management noted that the company imports less than competitors, which may mitigate tariff impacts, and emphasized a commitment to delivering value despite cost pressures [85][86] Question: Share gains in non-food categories and higher tier membership - Management reported continued share gains in both food and non-food categories, with a goal to increase higher tier membership penetration beyond 50% [92][99] Question: Digital convenience and its impact on margins - Management acknowledged that while digital sales may have slightly lower contribution margins, they are focused on growing member engagement and lifetime value through digital conveniences [106][108]