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A comment on Banks are slow to increase rates on savings accounts, but quick to reduce them. Parent comment

Re:Banks are slow to increase rates on savings accounts, but... by jacquesm on Saturday July 25, 2020 @08:56AM (#23948837)
> losses of sales of drink/snacks etc in their stores

As a former gas station owner, let me correct you here. Drinks and snacks, no matter how low the volume have crazy margins, sometimes 100% or more and make up a large fraction of gas station profits. It isn't rare to run the fuel at a loss to sell more ice cream and drinks.

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Re:Banks are slow to increase rates on savings accounts, but... by jon-wood on Saturday July 25, 2020 @09:14AM (#23948945)
How can a product have > 100% margin? Were you getting paid by the supplier to stock their products?
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Re:Banks are slow to increase rates on savings accounts, but... by gambiting on Saturday July 25, 2020 @09:18AM (#23948962)
Uhm, you buy an item for $1, sell it for $3, the margin is 200%, no?
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Re:Banks are slow to increase rates on savings accounts, but... by sokoloff on Saturday July 25, 2020 @09:51AM (#23949165)
As typically defined: The margin is 67%. The markup is 200%.

Margin is "profit as percent of revenue". Markup is "profit as percent of COGS".

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Re:Banks are slow to increase rates on savings accounts, but... by jon-wood on Saturday July 25, 2020 @09:43AM (#23949100)
Ugh, of course. I had a total blank on basic maths for a moment.
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Re:Banks are slow to increase rates on savings accounts, but... by jacquesm on Saturday July 25, 2020 @01:35PM (#23950960)
You are right, I should have used markup, not margin. Apologies.
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