原文发表于美国时间2022-9-26
发生了什么事情？
好市多在上周公布的季度业绩财报，该财报的数据显示在严峻的经济状况下好市多的财务良好。
这意味着什么？
好市多是一家会员制连锁零售商，该公司每个月均向投资者公布关键运营指标，故而本季度销售额增长15%也并未令人惊讶。
不过，不论好市多的数据是否符合市场预期，好市多上涨的销售额在当前的环境下令人印象深刻——实际上，即便好市多公布其运营成本飙涨，该公司的利率率也增长了8%。好市多实际上支付给供应商的费用同比去年同期增长了8%。
好市多目前看起来已经找到了在不吓走购物者的情况下转嫁上涨的成本：我们将可以在塔吉特和沃尔玛这两个好市多竞争对手在11月发布季度业绩财报时知道它们是否也做到了这一点。
为何值得关注？
聚焦：会员费
在各种物价皆上涨的时候，有一项费用丝毫未涨：好市多的60美元金星会员年费。部分股东抱怨称好市多应该上调会员年费以增加公司利润，不过在好市多美国与加拿大会员续费率达到93%历史新高的情况下，好市多将谨慎触动会员费这一块蛋糕。
更大的图景：好市多价格指数
好市多以提供范围广泛的产品而闻名：该连锁零售商货架上的便宜商品涵盖日用百货、汽车轮胎以及300斤重的保险箱等等。
储备如此多样化的商品意味着该公司需要密切关注全部市场的动向，根据好市多首席财务官的说法，好消息是牛肉等生鲜食品以及钢铁等大宗商品的价格同比去年有所下降。
随着运输成本的下降以及运输到好市多仓库的货物更准时，供应链的状况看起来也在改善。消费者可能会从物价的涨涨不休中暂时松一口气。
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这篇文章已被翻译成中文。原英文作者Finimize。如英文版本和中文版本之间有任何不一致，以英文版本为准。该文章中的分析仅为提供信息，不是也不应该被视为推销或招揽购买任何证券。文章中讨论的一般市场活动、行业或领域趋势、或其它基于广泛的经济或政治条件的内容，不应被解释为研究结果或投资建议。讨论中提及包括的特定证券、商品、货币、或其它产品均不构成IB推荐购买，出售或持有此类投资的建议。本材料不是也不意图针对个别客户的特定财务条件、投资目标或要求。在根据本材料采取行动之前，您应该考虑是否适合您的具体情况，并在必要时寻求专业建议。
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