Yahoo Finance's Emily McCormick breaks down quarterly earnings for Costco and Gap.
"If you want to find the person who actually doesn't really know what they're talking about, look for total certainty and look for people who don't admit they don't know things."
Costco Wholesale Corp reported a fall in gross margins on Thursday, hit by soaring freight and labor costs across the United States, sending shares of the membership-only retailer down 2% and overshadowing an otherwise upbeat quarterly report. Costco said it was increasing prices in certain areas of food to combat inflation. Retailers like Walmart Inc and Target Corp have warned of decades-high inflation hitting their profits, with customers refraining from buying non-essential and high-margin products.