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Six-time Super Bowl champion Bill Belichick interviewed for the head-coaching job at North Carolina, Inside Carolina and the Raleigh News & Observer reported Thursday. According to the News & Observer, Belichick "blew them away in the interview," yet he is not likely to move forward because he is pushing 73 years old and has no experience in the college game. After he and the New England Patriots agreed to part ways following a 24-year stint, Belichick interviewed for the head job with the Atlanta Falcons, who instead hired Raheem Morris. The North Carolina interview is the first known instance of Belichick showing interest in a college position. Belichick is expected to draw interest for NFL openings in the upcoming hiring cycle. The Tar Heels retained an outside advisory firm to identify coaching candidates to replace Mack Brown, whom they fired at the end of the regular season. North Carolina went 6-6, including 3-5 in the Atlantic Coast Conference. "We've had a tremendous response of people across the country, of agents calling us, coaches, people calling on behalf of other people that are in the industry," North Carolina athletic director Bubba Cunningham said in an in-house interview the school posted online earlier this week. "We are very optimistic of where we are, the interest in our program is just extraordinary, and we'll get a great coach to lead us. Who can lead us in the next three, five, 10 years? We need somebody that can come in and take us from good to great." --Field Level Media
ST. LOUIS (AP) — Jason Zucker scored a tiebreaking power-play goal with 9:30 remaining and the Buffalo Sabres notched their third straight victory by beating the St. Louis Blues 4-2 on Sunday. Jiri Kulich extended Buffalo’s lead with a breakaway goal that went between Blues goalie Jordan Binnington’s legs with 3:41 to play. Tage Thompson had a goal and an assist against his former team as the Sabres won in St. Louis for just the second time in 12 years to sweep the season series. Zucker had a goal and an assist, and Jack Quinn had two assists for Buffalo. Ukko-Pekka Luukkonen stopped 35 shots. Brayden Schenn and Nathan Walker scored for the Blues. Binnington had 12 saves. Buffalo scored on two of its first three shots, including its first of the game. Takeaways Buffalo: After a 13-game losing streak (0-10-3), the Sabres have scored 17 goals while winning three straight. St. Louis: The Blues, who are tied for an NHL-low five power-play goals at home, went 0 for 4 with the man advantage. Key moment After Walker pulled the Blues even with 14:04 left in the game, rookie Zack Bolduc took a cross checking penalty midway through the third period that led to the decisive goal. Key stat The Sabres had scored on only six of 43 road power plays (14%) this season before going 2 for 3 on Sunday. Buffalo ranked 27th out of 32 NHL teams. Up next The Blues play Chicago in the Winter Classic on Tuesday at Wrigley Field. Buffalo will play at Dallas on Tuesday night. ___ AP NHL: https://apnews.com/hub/nhl Jeff Latzke, The Associated Press
Packham resigns as RSPCA president after animal cruelty claims at approved farmsVideo: Car plunges into lake in Bhuvanagiri in Telangana, two rescuedAP Business SummaryBrief at 6:26 p.m. EST8 ways Intel can still pull itself out of free fall after its CEO's forced exit
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Successfully navigating the stock market requires patience and a long-term perspective. The key is sticking to a consistent plan and making regular contributions to a retirement account, allowing the power of compounding to work its magic over time. Nevertheless, there's an undeniable allure in searching for potential multibagger stocks. Something is captivating about companies with disruptive innovations, whose stocks could be on the cusp of rapid growth and capable of delivering life-changing returns to shareholders. Recursion Pharmaceuticals ( RXRX -0.98% ) is a clinical-stage biotech that may have that level of potential. The company harnesses artificial intelligence (AI) for drug discovery, promising to revolutionize medicine. Let's explore whether buying the stock could eventually help you become a millionaire. AI-powered biotech Recursion has rapidly established itself as a leader in the field of AI-enabled biotechnology. The company's BioHive-2 supercomputer, powered by Nvidia AI chips, is one of the world's most powerful accelerated computing systems. Through advanced machine learning techniques, BioHive-2 analyzes vast amounts of biological data to identify drug targets, including proteins and genes involved in disease. Recursion's operating system (OS) evaluates millions of compounds to identify potential drug candidates, while also predicting drug molecule properties and optimal patient populations to enhance drug design. These efforts allow accelerated research on treatments across a wide range of conditions, while reducing costs compared to traditional methods. A major development for Recursion this year was its merger with Exscientia, another biotech company focused on AI-based drug discovery. Exscientia's expertise in advanced methods of chemical design complements Recursion's biology-driven approach. This combination has created a vertically integrated platform, resulting in a fundamentally stronger company. A promising pipeline of therapeutic candidates The good news is that Recursion's technology has already yielded promising results, with a robust pipeline of drug candidates that now incorporates Exscientia's legacy programs. One of the most promising prospects is REC-994, which could become the first oral therapy for treating symptomatic cerebral cavernous malformation (CCM), a brain hemorrhaging condition that currently lacks any approved treatments. REC-617 has also shown encouraging results, with a recent phase 1 interim study demonstrating positive patient responses and good tolerability in treating advanced solid tumors. The company believes this drug has "best in class" potential, one of several reasons that make Recursion an intriguing opportunity for investors. Looking ahead to 2025, the market will be closely following clinical readouts and regulatory updates as catalysts for Recursion stock: Reasons for caution It seems likely that at least one of Recursion Pharmaceuticals' candidates could eventually gain approval as a novel therapy, transforming the company into a commercially sustainable operation over the next decade. But making a much more bullish case for the stock, as an investment to multiply many times over, would be a significantly more challenging proposition. It would likely require Recursion to develop a blockbuster drug capable of generating billions of dollars in sales across multiple years. The reality is that Recursion remains years away from bringing a drug to market. Currently, the company generates only limited revenue through partnership milestone payments and research grants, while facing substantially higher operating expenses. Wall Street analysts project continued financial losses for the foreseeable future, with negative earnings per share (EPS) expected to worsen from a projected loss of $1.54 this year to $1.65 in 2025. Metric 2023 2024 (Estimate) 2025 (Estimate) Revenue (in millions) $44.6 $70.0 $76.0 Revenue change (YOY) 12% 57% 9% Earnings per share (EPS) ($1.58) ($1.54) ($1.65) EPS change (YOY) N/A N/A N/A Data source: Yahoo Finance. YOY = year over year. While the market can overlook a lack of profitability based on longer-term growth prospects, the dynamic may keep the stock under pressure. Shares of Recursion are down approximately 55% from their 52-week high, and any sort of regulatory setback could send the stock even lower. Another consideration is the highly competitive industry landscape. Major biotech and pharmaceutical companies like Merck , AstraZeneca , and Pfizer , among others, are increasingly using artificial intelligence in their research and development processes. This widespread adoption raises questions about whether Recursion can maintain a technological advantage in the field. Final thoughts Although Recursion Pharmaceuticals offers compelling possibilities, I believe that without better visibility into its product approval pathway, it's just too early to buy this stock with conviction. In the meantime, 2025 will be a crucial year for the company to offer more clarity on its long-term potential. You may want to keep this one on your radar.Detroit Lions predicted to sign Jets $7 million starter | Sporting News
Trump picks Scott Bessent to serve as treasury secretaryThe Detroit Lions have arguably been the best team in the NFL this season, as Dan Campbell's squad is 11-1 and atop the NFC North through 13 weeks. The Lions have won ten consecutive games after a 1-1 start and tallied a scrappy 23-20 victory over the Chicago Bears on Thanksgiving Day in Week 13. One of the primary reasons for the Lions' success in 2024 has been the impressive play of the defense, especially the interior defensive line. Alim McNeill and Levi Onwuzurike have been one of the better defensive tackle duos in the league this season, as the tandem admirably anchors the middle of Detroit's injury-riddled defensive line. The Lions signed McNeill to a four-year, $97 million contract extension on Oct.16 , but Onwuzurike is set to hit unrestricted free agency this offseason. If general manager Brad Holmes fails to retain the 2021 second-round pick this offseason, Bleacher Report's Matt Holder believes New York Jets defensive tackle Javon Kinlaw could sign with Detroit. Detroit wisely signed Alim McNeill to a contract extension, but Levi Onwuzurike and John Cominsky are impending free agents. So the team will still need to add some depth on the interior defensive line this offseason. Kinlaw isn't a game-changer by any means. However, he has been a solid player throughout his career. In other words, the 27-year-old could contribute off the bench and should be affordable in free agency. Though Kinlaw isn't an elite player, the 2020 No.14 overall pick would be an adequate replacement for Onwuzurike if the star defensive tackle departs Detroit this offseason. Kinlaw spent the first four seasons of his career with the San Francisco 49ers before signing with the Jets in the 2024 offseason. The former South Carolina standout saw limited playing time in San Francisco till his final year with the team in 2023, when he posted 3.5 sacks and 31 quarterback pressures in six starts. Thus far in 2024, Kinlaw has started every game for the Jets and has tallied 2.5 sacks and 21 quarterback pressures . The 27-year-old has been inconsistent this season but is set to have his most productive campaign yet and should be relatively cheap to acquire. Overall, signing Kinlaw to a low-risk, high-reward deal would be a savvy move from Brad Holmes if Onwuzurike walks in free agency. MORE DETROIT LIONS NEWS Lions injury updates: Carlton Davis, D.J. Reader, Taylor Decker, more Multiple Detroit Lions players among leaders in Pro Bowl voting Dan Campbell has blunt stance on Jahmyr Gibbs leaking sensitive Lions info
Costco Stock Trades at Over 50 Times Earnings for Only the 2nd Time in Its History. What Happened Last Time Could Signal What to Expect This Time.
Treysen Eaglestaff scores 19 as North Dakota cruises past Waldorf College 97-57BOLINGBROOK, Ill.--(BUSINESS WIRE)--Dec 5, 2024-- Ulta Beauty, Inc. (NASDAQ: ULTA) today announced financial results for the thirteen-week period (“third quarter”) and thirty-nine-week period (“first nine months”) ended November 2, 2024 compared to the same periods ended October 28, 2023. 13 Weeks Ended 39 Weeks Ended November 2, October 28, November 2, October 28, (Dollars in millions, except per share data) 2024 2023 2024 2023 Net sales $ 2,530.1 $ 2,488.9 $ 7,808.0 $ 7,653.0 Comparable sales (1) 0.6% 4.5% 0.3% 7.3% Gross profit (as a percentage of net sales) 39.7% 39.9% 39.1% 39.7% Selling, general and administrative expenses $ 682.3 $ 661.4 $ 1,993.0 $ 1,874.2 Operating income (as a percentage of net sales) 12.6% 13.1% 13.4% 15.2% Diluted earnings per share $ 5.14 $ 5.07 $ 16.93 $ 17.99 New store openings, net 26 12 52 19 (1) Comparable sales are calculated based on the comparable 13 and 39 calendar weeks in the current and prior year. “The Ulta Beauty team delivered better-than-expected sales and profitability reflecting improved sales trends and strong financial discipline. I am proud of the progress we’ve made and encouraged by early signs that our efforts to reinforce our market position and drive improved performance are gaining traction. As we look to the remainder of fiscal 2024, we are focused on executing with excellence across our key initiatives to deliver in a dynamic environment,” said Dave Kimbell, chief executive officer. “We remain confident that our model and strategies will drive long-term profitable growth and share leadership by enhancing our position as the destination for beauty enthusiasts for a lifetime.” Third Quarter of Fiscal 2024 Compared to Third Quarter of Fiscal 2023 Net sales increased 1.7% to $2.53 billion compared to $2.49 billion, primarily due to new store contribution, partially offset by a decline in other revenue. Comparable sales (sales for stores open at least 14 months and e-commerce sales) increased 0.6% compared to an increase of 4.5%, driven by a 0.5% increase in transactions and a 0.1% increase in average ticket. Gross profit was $1.0 billion compared to $992.1 million. As a percentage of net sales, gross profit decreased to 39.7% compared to 39.9%, primarily due to deleverage of store and supply chain fixed costs and lower other revenue, partially offset by favorable channel mix and lower inventory shrink. Selling, general and administrative (SG&A) expenses were $682.3 million compared to $661.4 million. As a percentage of net sales, SG&A expenses increased to 27.0% compared to 26.6%, primarily due to deleverage of store payroll and benefits, and corporate overhead, primarily due to strategic investments, partially offset by lower incentive compensation. Operating income was $318.5 million, or 12.6% of net sales, compared to $327.2 million, or 13.1% of net sales. The tax rate was 24.4% compared to 24.3%. Net income was $242.2 million compared to $249.5 million. Diluted earnings per share was $5.14 compared to $5.07. First Nine Months of Fiscal 2024 Compared to First Nine Months of Fiscal 2023 Net sales increased 2.0% to $7.8 billion compared to $7.7 billion, primarily due to new store contribution and growth in other revenue. Comparable sales increased 0.3% compared to an increase of 7.3%, driven by a 0.3% increase in average ticket. Gross profit was $3.1 billion compared to $3.0 billion. As a percentage of net sales, gross profit decreased to 39.1% compared to 39.7%, primarily due to lower merchandise margin, partially offset by deleverage of store fixed costs. SG&A expenses were $2.0 billion compared to $1.9 billion. As a percentage of net sales, SG&A expenses increased to 25.5% compared to 24.5%, primarily due to deleverage of corporate overhead due to strategic investments and deleverage of store payroll and benefits and store expenses, partially offset by lower incentive compensation. Operating income was $1.0 billion, or 13.4% of net sales, compared to $1.2 billion, or 15.2% of net sales. The tax rate was 23.9% compared to 23.7%. Net income was $807.8 million compared to $896.6 million. Diluted earnings per share was $16.93, including a $0.10 benefit due to income tax accounting for stock-based compensation, compared to $17.99, including a $0.14 benefit due to income tax accounting for stock-based compensation. Balance Sheet Cash and cash equivalents at the end of the third quarter of fiscal 2024 totaled $177.8 million. Merchandise inventories, net at the end of the third quarter of fiscal 2024 increased 1.9% to $2.4 billion compared to $2.3 billion at the end of the third quarter of fiscal 2023. The increase was primarily due to the addition of 63 net new stores since October 28, 2023. Short-term debt at the end of the third quarter of fiscal 2024 was $199.7 million compared to $195.4 million at the end of the third quarter of fiscal 2023, as the Company drew on its revolving credit facility to support ongoing capital allocation priorities, including share repurchases and capital expenditures, and merchandise inventory growth. Share Repurchase Program During the third quarter of fiscal 2024, the Company repurchased 731,458 shares of its common stock at a cost of $267.0 million. During the first nine months of fiscal 2024, the Company repurchased 1.9 million shares of its common stock at a cost of $764.5 million. As of November 2, 2024, $2.9 billion remained available under the $3.0 billion share repurchase program announced in October 2024. Store Update During the third quarter of fiscal 2024, the Company opened 28 new stores, remodeled 27 stores, and closed two stores. During the first nine months of fiscal 2024, the Company opened 57 new stores, relocated two stores, remodeled 36 stores, and closed five stores. At the end of the third quarter of fiscal 2024, the Company operated 1,437 stores totaling 15.0 million square feet. Fiscal 2024 Outlook For fiscal 2024, the Company plans to: Prior FY24 Outlook Updated FY24 Outlook Net sales $11.0 billion to $11.2 billion $11.1 billion to $11.2 billion Comparable sales (2%) to 0% (1%) to 0% New stores, net 60-65 no change Remodel and relocation projects 40-45 no change Operating margin 12.7% to 13.0% 12.9% to 13.1% Diluted earnings per share $22.60 to $23.50 $23.20 to $23.75 Share repurchases approximately $1 billion no change Interest income approximately $13 million $13 million to $14 million Effective tax rate approximately 24% no change Capital expenditures $400 million to $450 million $400 million to $425 million Depreciation and amortization expense $265 million to $270 million no change Conference Call Information A conference call to discuss third quarter of fiscal 2024 results is scheduled for today, December 5, 2024 at 4:30 p.m. ET / 3:30 p.m. CT. Investors and analysts who are interested in participating in the call are invited to dial (877) 704-4453. Participants may also listen to a real-time audio webcast of the conference call by visiting the Investor Relations section of the Company’s website located at https://www.ulta.com/investor . A replay will be made available online approximately two hours following the live call for a period of 30 days. About Ulta Beauty At Ulta Beauty (NASDAQ: ULTA), the possibilities are beautiful. Ulta Beauty is the largest specialty U.S. beauty retailer and the premier beauty destination for cosmetics, fragrance, skin care products, hair care products and salon services. In 1990, the Company reinvented the beauty retail experience by offering a new way to shop for beauty – bringing together All Things Beauty. All in One Place ®. Today, Ulta Beauty operates 1,437 retail stores across 50 states and also distributes its products through its website, which includes a collection of tips, tutorials, and social content. For more information, visit www.ulta.com . Forward‐Looking Statements This press release contains forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, which reflect the Company’s current views with respect to, among other things, future events and financial performance. These statements can be identified by the use of forward-looking words such as “outlook,” “believes,” “expects,” “plans,” “estimates,” “targets,” “strategies” or other comparable words. Any forward-looking statements contained in this press release are based upon the Company’s historical performance and on current plans, estimates and expectations. The inclusion of this forward-looking information should not be regarded as a representation by the Company or any other person that the future plans, estimates, targets, strategies or expectations contemplated by the Company will be achieved. Such forward-looking statements are subject to various risks and uncertainties, which include, without limitation: macroeconomic conditions, including inflation, elevated interest rates and recessionary concerns, as well as continuing labor cost pressures, and transportation and shipping cost pressures, have had, and may continue to have, a negative impact on our business, financial condition, profitability, and cash flows (including future uncertain impacts); changes in the overall level of consumer spending and volatility in the economy, including as a result of macroeconomic conditions and geopolitical events; our ability to sustain our growth plans and successfully implement our long-range strategic and financial plan; the ability to execute our operational excellence priorities, including continuous improvement, Project SOAR (the replacement of our enterprise resource planning platform), and supply chain optimization; our ability to gauge beauty trends and react to changing consumer preferences in a timely manner; the possibility that we may be unable to compete effectively in our highly competitive markets; the possibility of significant interruptions in the operations of our distribution centers, fast fulfillment centers, and market fulfillment centers; the possibility that cybersecurity or information security breaches and other disruptions could compromise our information or result in the unauthorized disclosure of confidential information; the possibility of material disruptions to our information systems, including our Ulta.com website and mobile applications; the failure to maintain satisfactory compliance with applicable privacy and data protection laws and regulations; changes in the good relationships we have with our brand partners, our ability to continue to obtain sufficient merchandise from our brand partners, and/or our ability to continue to offer permanent or temporary exclusive products of our brand partners; our ability to effectively manage our inventory and protect against inventory shrink; changes in the wholesale cost of our products and/or interruptions at our brand partners’ or third-party vendors’ operations; epidemics, pandemics or natural disasters, which could negatively impact sales; the possibility that new store openings and existing locations may be impacted by developer or co-tenant issues; our ability to attract and retain key executive personnel; the impact of climate change on our business operations and/or supply chain; our ability to successfully execute our common stock repurchase program or implement future common stock repurchase programs; a decline in operating results which could lead to asset impairment and store closure charges; and other risk factors detailed in the Company’s public filings with the Securities and Exchange Commission (the SEC), including risk factors contained in its Annual Report on Form 10‐K for the fiscal year ended February 3, 2024, as such may be amended or supplemented in its subsequently filed Quarterly Reports on Form 10-Q. The Company’s filings with the SEC are available at www.sec.gov . Except to the extent required by the federal securities laws, the Company does not undertake to publicly update or revise its forward-looking statements, whether as a result of new information, future events or otherwise. Exhibit 1 Ulta Beauty, Inc. Consolidated Statements of Income (In thousands, except per share data) 13 Weeks Ended November 2, October 28, 2024 2023 (Unaudited) (Unaudited) Net sales $ 2,530,100 100.0 % $ 2,488,933 100.0 % Cost of sales 1,524,456 60.3 % 1,496,866 60.1 % Gross profit 1,005,644 39.7 % 992,067 39.9 % Selling, general and administrative expenses 682,259 27.0 % 661,380 26.6 % Pre-opening expenses 4,883 0.2 % 3,460 0.1 % Operating income 318,502 12.6 % 327,227 13.1 % Interest income, net (1,674 ) (0.1 %) (2,497 ) (0.1 %) Income before income taxes 320,176 12.7 % 329,724 13.2 % Income tax expense 77,997 3.1 % 80,241 3.2 % Net income $ 242,179 9.6 % $ 249,483 10.0 % Net income per common share: Basic $ 5.16 $ 5.09 Diluted $ 5.14 $ 5.07 Weighted average common shares outstanding: Basic 46,928 49,007 Diluted 47,092 49,226 Exhibit 2 Ulta Beauty, Inc. Consolidated Statements of Income (In thousands, except per share data) 39 Weeks Ended November 2, October 28, 2024 2023 (Unaudited) (Unaudited) Net sales $ 7,808,035 100.0 % $ 7,653,005 100.0 % Cost of sales 4,754,434 60.9 % 4,612,469 60.3 % Gross profit 3,053,601 39.1 % 3,040,536 39.7 % Selling, general and administrative expenses 1,992,993 25.5 % 1,874,201 24.5 % Pre-opening expenses 11,957 0.2 % 5,396 0.1 % Operating income 1,048,651 13.4 % 1,160,939 15.2 % Interest income, net (13,100 ) (0.2 %) (14,294 ) (0.2 %) Income before income taxes 1,061,751 13.6 % 1,175,233 15.4 % Income tax expense 253,903 3.3 % 278,597 3.6 % Net income $ 807,848 10.3 % $ 896,636 11.7 % Net income per common share: Basic $ 17.00 $ 18.08 Diluted $ 16.93 $ 17.99 Weighted average common shares outstanding: Basic 47,519 49,592 Diluted 47,710 49,846 Exhibit 3 Ulta Beauty, Inc. Condensed Consolidated Balance Sheets (In thousands) November 2, February 3, October 28, 2024 2024 2023 (Unaudited) (Unaudited) Assets Current assets: Cash and cash equivalents $ 177,782 $ 766,594 $ 121,811 Receivables, net 213,621 207,939 202,868 Merchandise inventories, net 2,365,186 1,742,136 2,321,306 Prepaid expenses and other current assets 135,514 115,598 117,282 Prepaid income taxes 62,759 4,251 28,773 Total current assets 2,954,862 2,836,518 2,792,040 Property and equipment, net 1,264,419 1,182,335 1,117,874 Operating lease assets 1,619,055 1,574,530 1,578,316 Goodwill 10,870 10,870 10,870 Other intangible assets, net 281 510 591 Deferred compensation plan assets 48,872 43,516 38,371 Other long-term assets 60,127 58,732 56,946 Total assets $ 5,958,486 $ 5,707,011 $ 5,595,008 Liabilities and stockholders’ equity Current liabilities: Accounts payable $ 593,219 $ 544,001 $ 597,373 Accrued liabilities 333,463 382,468 405,443 Deferred revenue 405,040 436,591 350,937 Current operating lease liabilities 284,985 283,821 287,786 Accrued income taxes — 11,310 — Short-term debt 199,700 — 195,400 Total current liabilities 1,816,407 1,658,191 1,836,939 Non-current operating lease liabilities 1,656,317 1,627,271 1,616,747 Deferred income taxes 91,729 85,921 56,874 Other long-term liabilities 65,024 56,300 55,906 Total liabilities 3,629,477 3,427,683 3,566,466 Commitments and contingencies Total stockholders’ equity 2,329,009 2,279,328 2,028,542 Total liabilities and stockholders’ equity $ 5,958,486 $ 5,707,011 $ 5,595,008 Exhibit 4 Ulta Beauty, Inc. Condensed Consolidated Statements of Cash Flows (In thousands) 39 Weeks Ended November 2, October 28, 2024 2023 (Unaudited) (Unaudited) Operating activities Net income $ 807,848 $ 896,636 Adjustments to reconcile net income to net cash provided by operating activities: Depreciation and amortization 197,075 181,273 Non-cash lease expense 235,950 232,772 Deferred income taxes 5,808 1,528 Stock-based compensation expense 27,691 33,477 Loss on disposal of property and equipment 7,280 6,310 Change in operating assets and liabilities: Receivables (5,682 ) (3,446 ) Merchandise inventories (623,050 ) (717,855 ) Prepaid expenses and other current assets (19,916 ) 12,964 Income taxes (69,818 ) 9,535 Accounts payable 54,210 41,817 Accrued liabilities (45,777 ) (34,955 ) Deferred revenue (31,551 ) (43,740 ) Operating lease liabilities (250,267 ) (248,469 ) Other assets and liabilities 12,240 (9,836 ) Net cash provided by operating activities 302,041 358,011 Investing activities Capital expenditures (300,536 ) (311,030 ) Other investments (6,108 ) (4,870 ) Net cash used in investing activities (306,644 ) (315,900 ) Financing activities Borrowings from credit facility 199,700 195,400 Repurchase of common shares (765,384 ) (840,551 ) Stock options exercised 9,200 9,302 Purchase of treasury shares (23,566 ) (22,328 ) Debt issuance costs (4,159 ) — Net cash used in financing activities (584,209 ) (658,177 ) Net decrease in cash and cash equivalents (588,812 ) (616,066 ) Cash and cash equivalents at beginning of period 766,594 737,877 Cash and cash equivalents at end of period $ 177,782 $ 121,811 Exhibit 5 Ulta Beauty, Inc. Store Update Total stores open Number of stores Number of stores Total stores at beginning of the opened during the closed during the open at Fiscal 2024 quarter quarter quarter end of the quarter 1 st Quarter 1,385 12 2 1,395 2 nd Quarter 1,395 17 1 1,411 3 rd Quarter 1,411 28 2 1,437 Gross square feet for Total gross square stores opened or Gross square feet for Total gross square feet at beginning of expanded during the stores closed feet at end of the Fiscal 2024 the quarter quarter during the quarter quarter 1 st Quarter 14,515,593 114,786 15,615 14,614,764 2 nd Quarter 14,614,764 178,624 10,800 14,782,588 3 rd Quarter 14,782,588 258,320 20,083 15,020,825 Exhibit 6 Ulta Beauty, Inc. Sales by Category The following tables set forth the approximate percentage of net sales by primary category: 13 Weeks Ended November 2, October 28, 2024 2023 Cosmetics 41 % 42 % Skincare 23 % 22 % Haircare 20 % 21 % Fragrance 10 % 9 % Services 4 % 4 % Other 2 % 2 % 100 % 100 % 39 Weeks Ended November 2, October 28, 2024 2023 Cosmetics 41 % 42 % Skincare 24 % 22 % Haircare 19 % 21 % Fragrance 10 % 9 % Services 4 % 4 % Other 2 % 2 % 100 % 100 % Certain sales departments were reclassified between categories in the prior year to conform to current year presentation, including moving the bath category from Fragrance to Skincare. View source version on businesswire.com : https://www.businesswire.com/news/home/20241205470535/en/ CONTACT: Investor Contact: Kiley Rawlins, CFA Vice President, Investor Relations krawlins@ulta.comMedia Contact: Crystal Carroll Senior Director, Public Relations ccarroll@ulta.com KEYWORD: UNITED STATES NORTH AMERICA ILLINOIS INDUSTRY KEYWORD: COSMETICS RETAIL SPECIALTY SOURCE: Ulta Beauty, Inc. Copyright Business Wire 2024. PUB: 12/05/2024 04:05 PM/DISC: 12/05/2024 04:06 PM http://www.businesswire.com/news/home/20241205470535/enOnStream Apk Download Latest Official Version For Android
Israel launched a series of airstrikes in Lebanon's Nabatieh district Monday, marking the latest episode in the region's ongoing war . What Happened : The most recent strikes were in response to Hezbollah firing rockets near an Israeli watchtower, The Guardian reported. It was the first direct attack since a ceasefire went into effect Wednesday . The rockets were fired at the occupied Shebaa Farms on Monday night, according to The Guardian . The attack seemed more symbolic than destructive, at least at first. The rockets landed in an open area, killing at least two people, per Al Jazeera . Hezbollah described its move as an "initial warning defensive response" to Israel's alleged repeat offenses against the ceasefire agreement. Israeli Prime Minister Benjamin Netanyahu promised a "strong" response after the alleged ceasefire breach on the part of Hezbollah , a militant group that has been in conflict with Israel since the early 1980s. See Also: Macron Has Sharp Words For Netanyahu That His Country Was Created By A UN Decision Why It Matters : Concerns are rising that the region could ditch the ceasefire entirely, Axios reports. Over the past year, the Israel-Hezbollah conflict has resulted in significant casualties, particularly among Hezbollah fighters. More than 400 Hezbollah members have been killed in Israeli strikes, The Times of Israel reported in August. The clashes have led to civilian deaths and injuries on both sides. The exact numbers vary depending on the sources and specific incidents. Conflict In Gaza Continues: In Gaza, the death toll has passed 44,000, the Associated Press reports . The conflict escalated after the Hamas militant group attacked Israeli civilians Oct. 7 , 2023, and continues to hold many of them hostage . Cross-border rocket attacks, airstrikes and other military actions against Gaza and neighboring Lebanon followed, heightening concerns of a broader regional war. Read Next: After Hunter Pardon, Biden May Consider Others: What To Expect Photo: Shutterstock © 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.LOS ANGELES — Chris Woodward has been named first base coach by the Los Angeles Dodgers, marking his second stint on manager Dave Roberts' staff. The Dodgers made the announcement Friday night. Woodward was the Dodgers first base coach from 2016-18 before leaving to take over as manager of the Texas Rangers. Woodward fills the opening created after former first base coach Clayton McCullough became manager of the Miami Marlins. Woodward had a 211-287 record in nearly four seasons with the Rangers. He has been a senior advisor on the Dodgers' Major League and Player Development staff for the past two seasons. Dodgers executive vice president and general manager Brandon Gomes said Woodward will take over base running and infield responsibilities with third base coach Dino Ebel shifting to outfield duties.
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Six-time Super Bowl champion Bill Belichick interviewed for the head-coaching job at North Carolina, Inside Carolina and the Raleigh News & Observer reported Thursday. According to the News & Observer, Belichick "blew them away in the interview," yet he is not likely to move forward because he is pushing 73 years old and has no experience in the college game. After he and the New England Patriots agreed to part ways following a 24-year stint, Belichick interviewed for the head job with the Atlanta Falcons, who instead hired Raheem Morris. The North Carolina interview is the first known instance of Belichick showing interest in a college position. Belichick is expected to draw interest for NFL openings in the upcoming hiring cycle. The Tar Heels retained an outside advisory firm to identify coaching candidates to replace Mack Brown, whom they fired at the end of the regular season. North Carolina went 6-6, including 3-5 in the Atlantic Coast Conference. "We've had a tremendous response of people across the country, of agents calling us, coaches, people calling on behalf of other people that are in the industry," North Carolina athletic director Bubba Cunningham said in an in-house interview the school posted online earlier this week. "We are very optimistic of where we are, the interest in our program is just extraordinary, and we'll get a great coach to lead us. Who can lead us in the next three, five, 10 years? We need somebody that can come in and take us from good to great." --Field Level Media
ST. LOUIS (AP) — Jason Zucker scored a tiebreaking power-play goal with 9:30 remaining and the Buffalo Sabres notched their third straight victory by beating the St. Louis Blues 4-2 on Sunday. Jiri Kulich extended Buffalo’s lead with a breakaway goal that went between Blues goalie Jordan Binnington’s legs with 3:41 to play. Tage Thompson had a goal and an assist against his former team as the Sabres won in St. Louis for just the second time in 12 years to sweep the season series. Zucker had a goal and an assist, and Jack Quinn had two assists for Buffalo. Ukko-Pekka Luukkonen stopped 35 shots. Brayden Schenn and Nathan Walker scored for the Blues. Binnington had 12 saves. Buffalo scored on two of its first three shots, including its first of the game. Takeaways Buffalo: After a 13-game losing streak (0-10-3), the Sabres have scored 17 goals while winning three straight. St. Louis: The Blues, who are tied for an NHL-low five power-play goals at home, went 0 for 4 with the man advantage. Key moment After Walker pulled the Blues even with 14:04 left in the game, rookie Zack Bolduc took a cross checking penalty midway through the third period that led to the decisive goal. Key stat The Sabres had scored on only six of 43 road power plays (14%) this season before going 2 for 3 on Sunday. Buffalo ranked 27th out of 32 NHL teams. Up next The Blues play Chicago in the Winter Classic on Tuesday at Wrigley Field. Buffalo will play at Dallas on Tuesday night. ___ AP NHL: https://apnews.com/hub/nhl Jeff Latzke, The Associated Press
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Successfully navigating the stock market requires patience and a long-term perspective. The key is sticking to a consistent plan and making regular contributions to a retirement account, allowing the power of compounding to work its magic over time. Nevertheless, there's an undeniable allure in searching for potential multibagger stocks. Something is captivating about companies with disruptive innovations, whose stocks could be on the cusp of rapid growth and capable of delivering life-changing returns to shareholders. Recursion Pharmaceuticals ( RXRX -0.98% ) is a clinical-stage biotech that may have that level of potential. The company harnesses artificial intelligence (AI) for drug discovery, promising to revolutionize medicine. Let's explore whether buying the stock could eventually help you become a millionaire. AI-powered biotech Recursion has rapidly established itself as a leader in the field of AI-enabled biotechnology. The company's BioHive-2 supercomputer, powered by Nvidia AI chips, is one of the world's most powerful accelerated computing systems. Through advanced machine learning techniques, BioHive-2 analyzes vast amounts of biological data to identify drug targets, including proteins and genes involved in disease. Recursion's operating system (OS) evaluates millions of compounds to identify potential drug candidates, while also predicting drug molecule properties and optimal patient populations to enhance drug design. These efforts allow accelerated research on treatments across a wide range of conditions, while reducing costs compared to traditional methods. A major development for Recursion this year was its merger with Exscientia, another biotech company focused on AI-based drug discovery. Exscientia's expertise in advanced methods of chemical design complements Recursion's biology-driven approach. This combination has created a vertically integrated platform, resulting in a fundamentally stronger company. A promising pipeline of therapeutic candidates The good news is that Recursion's technology has already yielded promising results, with a robust pipeline of drug candidates that now incorporates Exscientia's legacy programs. One of the most promising prospects is REC-994, which could become the first oral therapy for treating symptomatic cerebral cavernous malformation (CCM), a brain hemorrhaging condition that currently lacks any approved treatments. REC-617 has also shown encouraging results, with a recent phase 1 interim study demonstrating positive patient responses and good tolerability in treating advanced solid tumors. The company believes this drug has "best in class" potential, one of several reasons that make Recursion an intriguing opportunity for investors. Looking ahead to 2025, the market will be closely following clinical readouts and regulatory updates as catalysts for Recursion stock: Reasons for caution It seems likely that at least one of Recursion Pharmaceuticals' candidates could eventually gain approval as a novel therapy, transforming the company into a commercially sustainable operation over the next decade. But making a much more bullish case for the stock, as an investment to multiply many times over, would be a significantly more challenging proposition. It would likely require Recursion to develop a blockbuster drug capable of generating billions of dollars in sales across multiple years. The reality is that Recursion remains years away from bringing a drug to market. Currently, the company generates only limited revenue through partnership milestone payments and research grants, while facing substantially higher operating expenses. Wall Street analysts project continued financial losses for the foreseeable future, with negative earnings per share (EPS) expected to worsen from a projected loss of $1.54 this year to $1.65 in 2025. Metric 2023 2024 (Estimate) 2025 (Estimate) Revenue (in millions) $44.6 $70.0 $76.0 Revenue change (YOY) 12% 57% 9% Earnings per share (EPS) ($1.58) ($1.54) ($1.65) EPS change (YOY) N/A N/A N/A Data source: Yahoo Finance. YOY = year over year. While the market can overlook a lack of profitability based on longer-term growth prospects, the dynamic may keep the stock under pressure. Shares of Recursion are down approximately 55% from their 52-week high, and any sort of regulatory setback could send the stock even lower. Another consideration is the highly competitive industry landscape. Major biotech and pharmaceutical companies like Merck , AstraZeneca , and Pfizer , among others, are increasingly using artificial intelligence in their research and development processes. This widespread adoption raises questions about whether Recursion can maintain a technological advantage in the field. Final thoughts Although Recursion Pharmaceuticals offers compelling possibilities, I believe that without better visibility into its product approval pathway, it's just too early to buy this stock with conviction. In the meantime, 2025 will be a crucial year for the company to offer more clarity on its long-term potential. You may want to keep this one on your radar.Detroit Lions predicted to sign Jets $7 million starter | Sporting News
Trump picks Scott Bessent to serve as treasury secretaryThe Detroit Lions have arguably been the best team in the NFL this season, as Dan Campbell's squad is 11-1 and atop the NFC North through 13 weeks. The Lions have won ten consecutive games after a 1-1 start and tallied a scrappy 23-20 victory over the Chicago Bears on Thanksgiving Day in Week 13. One of the primary reasons for the Lions' success in 2024 has been the impressive play of the defense, especially the interior defensive line. Alim McNeill and Levi Onwuzurike have been one of the better defensive tackle duos in the league this season, as the tandem admirably anchors the middle of Detroit's injury-riddled defensive line. The Lions signed McNeill to a four-year, $97 million contract extension on Oct.16 , but Onwuzurike is set to hit unrestricted free agency this offseason. If general manager Brad Holmes fails to retain the 2021 second-round pick this offseason, Bleacher Report's Matt Holder believes New York Jets defensive tackle Javon Kinlaw could sign with Detroit. Detroit wisely signed Alim McNeill to a contract extension, but Levi Onwuzurike and John Cominsky are impending free agents. So the team will still need to add some depth on the interior defensive line this offseason. Kinlaw isn't a game-changer by any means. However, he has been a solid player throughout his career. In other words, the 27-year-old could contribute off the bench and should be affordable in free agency. Though Kinlaw isn't an elite player, the 2020 No.14 overall pick would be an adequate replacement for Onwuzurike if the star defensive tackle departs Detroit this offseason. Kinlaw spent the first four seasons of his career with the San Francisco 49ers before signing with the Jets in the 2024 offseason. The former South Carolina standout saw limited playing time in San Francisco till his final year with the team in 2023, when he posted 3.5 sacks and 31 quarterback pressures in six starts. Thus far in 2024, Kinlaw has started every game for the Jets and has tallied 2.5 sacks and 21 quarterback pressures . The 27-year-old has been inconsistent this season but is set to have his most productive campaign yet and should be relatively cheap to acquire. Overall, signing Kinlaw to a low-risk, high-reward deal would be a savvy move from Brad Holmes if Onwuzurike walks in free agency. MORE DETROIT LIONS NEWS Lions injury updates: Carlton Davis, D.J. Reader, Taylor Decker, more Multiple Detroit Lions players among leaders in Pro Bowl voting Dan Campbell has blunt stance on Jahmyr Gibbs leaking sensitive Lions info
Costco Stock Trades at Over 50 Times Earnings for Only the 2nd Time in Its History. What Happened Last Time Could Signal What to Expect This Time.
Treysen Eaglestaff scores 19 as North Dakota cruises past Waldorf College 97-57BOLINGBROOK, Ill.--(BUSINESS WIRE)--Dec 5, 2024-- Ulta Beauty, Inc. (NASDAQ: ULTA) today announced financial results for the thirteen-week period (“third quarter”) and thirty-nine-week period (“first nine months”) ended November 2, 2024 compared to the same periods ended October 28, 2023. 13 Weeks Ended 39 Weeks Ended November 2, October 28, November 2, October 28, (Dollars in millions, except per share data) 2024 2023 2024 2023 Net sales $ 2,530.1 $ 2,488.9 $ 7,808.0 $ 7,653.0 Comparable sales (1) 0.6% 4.5% 0.3% 7.3% Gross profit (as a percentage of net sales) 39.7% 39.9% 39.1% 39.7% Selling, general and administrative expenses $ 682.3 $ 661.4 $ 1,993.0 $ 1,874.2 Operating income (as a percentage of net sales) 12.6% 13.1% 13.4% 15.2% Diluted earnings per share $ 5.14 $ 5.07 $ 16.93 $ 17.99 New store openings, net 26 12 52 19 (1) Comparable sales are calculated based on the comparable 13 and 39 calendar weeks in the current and prior year. “The Ulta Beauty team delivered better-than-expected sales and profitability reflecting improved sales trends and strong financial discipline. I am proud of the progress we’ve made and encouraged by early signs that our efforts to reinforce our market position and drive improved performance are gaining traction. As we look to the remainder of fiscal 2024, we are focused on executing with excellence across our key initiatives to deliver in a dynamic environment,” said Dave Kimbell, chief executive officer. “We remain confident that our model and strategies will drive long-term profitable growth and share leadership by enhancing our position as the destination for beauty enthusiasts for a lifetime.” Third Quarter of Fiscal 2024 Compared to Third Quarter of Fiscal 2023 Net sales increased 1.7% to $2.53 billion compared to $2.49 billion, primarily due to new store contribution, partially offset by a decline in other revenue. Comparable sales (sales for stores open at least 14 months and e-commerce sales) increased 0.6% compared to an increase of 4.5%, driven by a 0.5% increase in transactions and a 0.1% increase in average ticket. Gross profit was $1.0 billion compared to $992.1 million. As a percentage of net sales, gross profit decreased to 39.7% compared to 39.9%, primarily due to deleverage of store and supply chain fixed costs and lower other revenue, partially offset by favorable channel mix and lower inventory shrink. Selling, general and administrative (SG&A) expenses were $682.3 million compared to $661.4 million. As a percentage of net sales, SG&A expenses increased to 27.0% compared to 26.6%, primarily due to deleverage of store payroll and benefits, and corporate overhead, primarily due to strategic investments, partially offset by lower incentive compensation. Operating income was $318.5 million, or 12.6% of net sales, compared to $327.2 million, or 13.1% of net sales. The tax rate was 24.4% compared to 24.3%. Net income was $242.2 million compared to $249.5 million. Diluted earnings per share was $5.14 compared to $5.07. First Nine Months of Fiscal 2024 Compared to First Nine Months of Fiscal 2023 Net sales increased 2.0% to $7.8 billion compared to $7.7 billion, primarily due to new store contribution and growth in other revenue. Comparable sales increased 0.3% compared to an increase of 7.3%, driven by a 0.3% increase in average ticket. Gross profit was $3.1 billion compared to $3.0 billion. As a percentage of net sales, gross profit decreased to 39.1% compared to 39.7%, primarily due to lower merchandise margin, partially offset by deleverage of store fixed costs. SG&A expenses were $2.0 billion compared to $1.9 billion. As a percentage of net sales, SG&A expenses increased to 25.5% compared to 24.5%, primarily due to deleverage of corporate overhead due to strategic investments and deleverage of store payroll and benefits and store expenses, partially offset by lower incentive compensation. Operating income was $1.0 billion, or 13.4% of net sales, compared to $1.2 billion, or 15.2% of net sales. The tax rate was 23.9% compared to 23.7%. Net income was $807.8 million compared to $896.6 million. Diluted earnings per share was $16.93, including a $0.10 benefit due to income tax accounting for stock-based compensation, compared to $17.99, including a $0.14 benefit due to income tax accounting for stock-based compensation. Balance Sheet Cash and cash equivalents at the end of the third quarter of fiscal 2024 totaled $177.8 million. Merchandise inventories, net at the end of the third quarter of fiscal 2024 increased 1.9% to $2.4 billion compared to $2.3 billion at the end of the third quarter of fiscal 2023. The increase was primarily due to the addition of 63 net new stores since October 28, 2023. Short-term debt at the end of the third quarter of fiscal 2024 was $199.7 million compared to $195.4 million at the end of the third quarter of fiscal 2023, as the Company drew on its revolving credit facility to support ongoing capital allocation priorities, including share repurchases and capital expenditures, and merchandise inventory growth. Share Repurchase Program During the third quarter of fiscal 2024, the Company repurchased 731,458 shares of its common stock at a cost of $267.0 million. During the first nine months of fiscal 2024, the Company repurchased 1.9 million shares of its common stock at a cost of $764.5 million. As of November 2, 2024, $2.9 billion remained available under the $3.0 billion share repurchase program announced in October 2024. Store Update During the third quarter of fiscal 2024, the Company opened 28 new stores, remodeled 27 stores, and closed two stores. During the first nine months of fiscal 2024, the Company opened 57 new stores, relocated two stores, remodeled 36 stores, and closed five stores. At the end of the third quarter of fiscal 2024, the Company operated 1,437 stores totaling 15.0 million square feet. Fiscal 2024 Outlook For fiscal 2024, the Company plans to: Prior FY24 Outlook Updated FY24 Outlook Net sales $11.0 billion to $11.2 billion $11.1 billion to $11.2 billion Comparable sales (2%) to 0% (1%) to 0% New stores, net 60-65 no change Remodel and relocation projects 40-45 no change Operating margin 12.7% to 13.0% 12.9% to 13.1% Diluted earnings per share $22.60 to $23.50 $23.20 to $23.75 Share repurchases approximately $1 billion no change Interest income approximately $13 million $13 million to $14 million Effective tax rate approximately 24% no change Capital expenditures $400 million to $450 million $400 million to $425 million Depreciation and amortization expense $265 million to $270 million no change Conference Call Information A conference call to discuss third quarter of fiscal 2024 results is scheduled for today, December 5, 2024 at 4:30 p.m. ET / 3:30 p.m. CT. Investors and analysts who are interested in participating in the call are invited to dial (877) 704-4453. Participants may also listen to a real-time audio webcast of the conference call by visiting the Investor Relations section of the Company’s website located at https://www.ulta.com/investor . A replay will be made available online approximately two hours following the live call for a period of 30 days. About Ulta Beauty At Ulta Beauty (NASDAQ: ULTA), the possibilities are beautiful. Ulta Beauty is the largest specialty U.S. beauty retailer and the premier beauty destination for cosmetics, fragrance, skin care products, hair care products and salon services. In 1990, the Company reinvented the beauty retail experience by offering a new way to shop for beauty – bringing together All Things Beauty. All in One Place ®. Today, Ulta Beauty operates 1,437 retail stores across 50 states and also distributes its products through its website, which includes a collection of tips, tutorials, and social content. For more information, visit www.ulta.com . Forward‐Looking Statements This press release contains forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, which reflect the Company’s current views with respect to, among other things, future events and financial performance. These statements can be identified by the use of forward-looking words such as “outlook,” “believes,” “expects,” “plans,” “estimates,” “targets,” “strategies” or other comparable words. Any forward-looking statements contained in this press release are based upon the Company’s historical performance and on current plans, estimates and expectations. The inclusion of this forward-looking information should not be regarded as a representation by the Company or any other person that the future plans, estimates, targets, strategies or expectations contemplated by the Company will be achieved. Such forward-looking statements are subject to various risks and uncertainties, which include, without limitation: macroeconomic conditions, including inflation, elevated interest rates and recessionary concerns, as well as continuing labor cost pressures, and transportation and shipping cost pressures, have had, and may continue to have, a negative impact on our business, financial condition, profitability, and cash flows (including future uncertain impacts); changes in the overall level of consumer spending and volatility in the economy, including as a result of macroeconomic conditions and geopolitical events; our ability to sustain our growth plans and successfully implement our long-range strategic and financial plan; the ability to execute our operational excellence priorities, including continuous improvement, Project SOAR (the replacement of our enterprise resource planning platform), and supply chain optimization; our ability to gauge beauty trends and react to changing consumer preferences in a timely manner; the possibility that we may be unable to compete effectively in our highly competitive markets; the possibility of significant interruptions in the operations of our distribution centers, fast fulfillment centers, and market fulfillment centers; the possibility that cybersecurity or information security breaches and other disruptions could compromise our information or result in the unauthorized disclosure of confidential information; the possibility of material disruptions to our information systems, including our Ulta.com website and mobile applications; the failure to maintain satisfactory compliance with applicable privacy and data protection laws and regulations; changes in the good relationships we have with our brand partners, our ability to continue to obtain sufficient merchandise from our brand partners, and/or our ability to continue to offer permanent or temporary exclusive products of our brand partners; our ability to effectively manage our inventory and protect against inventory shrink; changes in the wholesale cost of our products and/or interruptions at our brand partners’ or third-party vendors’ operations; epidemics, pandemics or natural disasters, which could negatively impact sales; the possibility that new store openings and existing locations may be impacted by developer or co-tenant issues; our ability to attract and retain key executive personnel; the impact of climate change on our business operations and/or supply chain; our ability to successfully execute our common stock repurchase program or implement future common stock repurchase programs; a decline in operating results which could lead to asset impairment and store closure charges; and other risk factors detailed in the Company’s public filings with the Securities and Exchange Commission (the SEC), including risk factors contained in its Annual Report on Form 10‐K for the fiscal year ended February 3, 2024, as such may be amended or supplemented in its subsequently filed Quarterly Reports on Form 10-Q. The Company’s filings with the SEC are available at www.sec.gov . Except to the extent required by the federal securities laws, the Company does not undertake to publicly update or revise its forward-looking statements, whether as a result of new information, future events or otherwise. Exhibit 1 Ulta Beauty, Inc. Consolidated Statements of Income (In thousands, except per share data) 13 Weeks Ended November 2, October 28, 2024 2023 (Unaudited) (Unaudited) Net sales $ 2,530,100 100.0 % $ 2,488,933 100.0 % Cost of sales 1,524,456 60.3 % 1,496,866 60.1 % Gross profit 1,005,644 39.7 % 992,067 39.9 % Selling, general and administrative expenses 682,259 27.0 % 661,380 26.6 % Pre-opening expenses 4,883 0.2 % 3,460 0.1 % Operating income 318,502 12.6 % 327,227 13.1 % Interest income, net (1,674 ) (0.1 %) (2,497 ) (0.1 %) Income before income taxes 320,176 12.7 % 329,724 13.2 % Income tax expense 77,997 3.1 % 80,241 3.2 % Net income $ 242,179 9.6 % $ 249,483 10.0 % Net income per common share: Basic $ 5.16 $ 5.09 Diluted $ 5.14 $ 5.07 Weighted average common shares outstanding: Basic 46,928 49,007 Diluted 47,092 49,226 Exhibit 2 Ulta Beauty, Inc. Consolidated Statements of Income (In thousands, except per share data) 39 Weeks Ended November 2, October 28, 2024 2023 (Unaudited) (Unaudited) Net sales $ 7,808,035 100.0 % $ 7,653,005 100.0 % Cost of sales 4,754,434 60.9 % 4,612,469 60.3 % Gross profit 3,053,601 39.1 % 3,040,536 39.7 % Selling, general and administrative expenses 1,992,993 25.5 % 1,874,201 24.5 % Pre-opening expenses 11,957 0.2 % 5,396 0.1 % Operating income 1,048,651 13.4 % 1,160,939 15.2 % Interest income, net (13,100 ) (0.2 %) (14,294 ) (0.2 %) Income before income taxes 1,061,751 13.6 % 1,175,233 15.4 % Income tax expense 253,903 3.3 % 278,597 3.6 % Net income $ 807,848 10.3 % $ 896,636 11.7 % Net income per common share: Basic $ 17.00 $ 18.08 Diluted $ 16.93 $ 17.99 Weighted average common shares outstanding: Basic 47,519 49,592 Diluted 47,710 49,846 Exhibit 3 Ulta Beauty, Inc. Condensed Consolidated Balance Sheets (In thousands) November 2, February 3, October 28, 2024 2024 2023 (Unaudited) (Unaudited) Assets Current assets: Cash and cash equivalents $ 177,782 $ 766,594 $ 121,811 Receivables, net 213,621 207,939 202,868 Merchandise inventories, net 2,365,186 1,742,136 2,321,306 Prepaid expenses and other current assets 135,514 115,598 117,282 Prepaid income taxes 62,759 4,251 28,773 Total current assets 2,954,862 2,836,518 2,792,040 Property and equipment, net 1,264,419 1,182,335 1,117,874 Operating lease assets 1,619,055 1,574,530 1,578,316 Goodwill 10,870 10,870 10,870 Other intangible assets, net 281 510 591 Deferred compensation plan assets 48,872 43,516 38,371 Other long-term assets 60,127 58,732 56,946 Total assets $ 5,958,486 $ 5,707,011 $ 5,595,008 Liabilities and stockholders’ equity Current liabilities: Accounts payable $ 593,219 $ 544,001 $ 597,373 Accrued liabilities 333,463 382,468 405,443 Deferred revenue 405,040 436,591 350,937 Current operating lease liabilities 284,985 283,821 287,786 Accrued income taxes — 11,310 — Short-term debt 199,700 — 195,400 Total current liabilities 1,816,407 1,658,191 1,836,939 Non-current operating lease liabilities 1,656,317 1,627,271 1,616,747 Deferred income taxes 91,729 85,921 56,874 Other long-term liabilities 65,024 56,300 55,906 Total liabilities 3,629,477 3,427,683 3,566,466 Commitments and contingencies Total stockholders’ equity 2,329,009 2,279,328 2,028,542 Total liabilities and stockholders’ equity $ 5,958,486 $ 5,707,011 $ 5,595,008 Exhibit 4 Ulta Beauty, Inc. Condensed Consolidated Statements of Cash Flows (In thousands) 39 Weeks Ended November 2, October 28, 2024 2023 (Unaudited) (Unaudited) Operating activities Net income $ 807,848 $ 896,636 Adjustments to reconcile net income to net cash provided by operating activities: Depreciation and amortization 197,075 181,273 Non-cash lease expense 235,950 232,772 Deferred income taxes 5,808 1,528 Stock-based compensation expense 27,691 33,477 Loss on disposal of property and equipment 7,280 6,310 Change in operating assets and liabilities: Receivables (5,682 ) (3,446 ) Merchandise inventories (623,050 ) (717,855 ) Prepaid expenses and other current assets (19,916 ) 12,964 Income taxes (69,818 ) 9,535 Accounts payable 54,210 41,817 Accrued liabilities (45,777 ) (34,955 ) Deferred revenue (31,551 ) (43,740 ) Operating lease liabilities (250,267 ) (248,469 ) Other assets and liabilities 12,240 (9,836 ) Net cash provided by operating activities 302,041 358,011 Investing activities Capital expenditures (300,536 ) (311,030 ) Other investments (6,108 ) (4,870 ) Net cash used in investing activities (306,644 ) (315,900 ) Financing activities Borrowings from credit facility 199,700 195,400 Repurchase of common shares (765,384 ) (840,551 ) Stock options exercised 9,200 9,302 Purchase of treasury shares (23,566 ) (22,328 ) Debt issuance costs (4,159 ) — Net cash used in financing activities (584,209 ) (658,177 ) Net decrease in cash and cash equivalents (588,812 ) (616,066 ) Cash and cash equivalents at beginning of period 766,594 737,877 Cash and cash equivalents at end of period $ 177,782 $ 121,811 Exhibit 5 Ulta Beauty, Inc. Store Update Total stores open Number of stores Number of stores Total stores at beginning of the opened during the closed during the open at Fiscal 2024 quarter quarter quarter end of the quarter 1 st Quarter 1,385 12 2 1,395 2 nd Quarter 1,395 17 1 1,411 3 rd Quarter 1,411 28 2 1,437 Gross square feet for Total gross square stores opened or Gross square feet for Total gross square feet at beginning of expanded during the stores closed feet at end of the Fiscal 2024 the quarter quarter during the quarter quarter 1 st Quarter 14,515,593 114,786 15,615 14,614,764 2 nd Quarter 14,614,764 178,624 10,800 14,782,588 3 rd Quarter 14,782,588 258,320 20,083 15,020,825 Exhibit 6 Ulta Beauty, Inc. Sales by Category The following tables set forth the approximate percentage of net sales by primary category: 13 Weeks Ended November 2, October 28, 2024 2023 Cosmetics 41 % 42 % Skincare 23 % 22 % Haircare 20 % 21 % Fragrance 10 % 9 % Services 4 % 4 % Other 2 % 2 % 100 % 100 % 39 Weeks Ended November 2, October 28, 2024 2023 Cosmetics 41 % 42 % Skincare 24 % 22 % Haircare 19 % 21 % Fragrance 10 % 9 % Services 4 % 4 % Other 2 % 2 % 100 % 100 % Certain sales departments were reclassified between categories in the prior year to conform to current year presentation, including moving the bath category from Fragrance to Skincare. View source version on businesswire.com : https://www.businesswire.com/news/home/20241205470535/en/ CONTACT: Investor Contact: Kiley Rawlins, CFA Vice President, Investor Relations krawlins@ulta.comMedia Contact: Crystal Carroll Senior Director, Public Relations ccarroll@ulta.com KEYWORD: UNITED STATES NORTH AMERICA ILLINOIS INDUSTRY KEYWORD: COSMETICS RETAIL SPECIALTY SOURCE: Ulta Beauty, Inc. Copyright Business Wire 2024. PUB: 12/05/2024 04:05 PM/DISC: 12/05/2024 04:06 PM http://www.businesswire.com/news/home/20241205470535/enOnStream Apk Download Latest Official Version For Android
Israel launched a series of airstrikes in Lebanon's Nabatieh district Monday, marking the latest episode in the region's ongoing war . What Happened : The most recent strikes were in response to Hezbollah firing rockets near an Israeli watchtower, The Guardian reported. It was the first direct attack since a ceasefire went into effect Wednesday . The rockets were fired at the occupied Shebaa Farms on Monday night, according to The Guardian . The attack seemed more symbolic than destructive, at least at first. The rockets landed in an open area, killing at least two people, per Al Jazeera . Hezbollah described its move as an "initial warning defensive response" to Israel's alleged repeat offenses against the ceasefire agreement. Israeli Prime Minister Benjamin Netanyahu promised a "strong" response after the alleged ceasefire breach on the part of Hezbollah , a militant group that has been in conflict with Israel since the early 1980s. See Also: Macron Has Sharp Words For Netanyahu That His Country Was Created By A UN Decision Why It Matters : Concerns are rising that the region could ditch the ceasefire entirely, Axios reports. Over the past year, the Israel-Hezbollah conflict has resulted in significant casualties, particularly among Hezbollah fighters. More than 400 Hezbollah members have been killed in Israeli strikes, The Times of Israel reported in August. The clashes have led to civilian deaths and injuries on both sides. The exact numbers vary depending on the sources and specific incidents. Conflict In Gaza Continues: In Gaza, the death toll has passed 44,000, the Associated Press reports . The conflict escalated after the Hamas militant group attacked Israeli civilians Oct. 7 , 2023, and continues to hold many of them hostage . Cross-border rocket attacks, airstrikes and other military actions against Gaza and neighboring Lebanon followed, heightening concerns of a broader regional war. Read Next: After Hunter Pardon, Biden May Consider Others: What To Expect Photo: Shutterstock © 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.LOS ANGELES — Chris Woodward has been named first base coach by the Los Angeles Dodgers, marking his second stint on manager Dave Roberts' staff. The Dodgers made the announcement Friday night. Woodward was the Dodgers first base coach from 2016-18 before leaving to take over as manager of the Texas Rangers. Woodward fills the opening created after former first base coach Clayton McCullough became manager of the Miami Marlins. Woodward had a 211-287 record in nearly four seasons with the Rangers. He has been a senior advisor on the Dodgers' Major League and Player Development staff for the past two seasons. Dodgers executive vice president and general manager Brandon Gomes said Woodward will take over base running and infield responsibilities with third base coach Dino Ebel shifting to outfield duties.
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