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Showing research about Coronavirus

20200602-costco-origins

Costco cuts back in face of COVID-19, cutting overstocking risk

Costco Wholesale reported an 8.0% increase in underlying sales in the U.S. in the fiscal quarter to May 10. The firm has faced supply chain challenges in meeting that growth however. The firm’s CFO, Richard Galanti, has noted that non-food imports from China are improving as “most of the facto... Read more →

20200602-zf-products

ZF announces layoffs as auto part imports start to show wear

Auto component maker ZF has announced a significant cost cutting program, centered in Germany, after sales ground to a halt due to the COVID-19 crisis. The firm’s CEO, Wolf-Henning Schneider, has indicated it could take two years for sales to recover. ZF’s U.S. seaborne imports of axles and br... Read more →

20200602-ism-us

American import pessimism extends on phased COVID-19 recovery

U.S. business sentiment towards trade remains deeply negative in the wake of COVID-19. The latest ISM survey shows export order expectations reached 39.5, where a figure below 50 indicates a contraction, though that was slightly better than last month’s 35.3 reading. Import expectations actual... Read more →

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