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TAMPA, Fla. (AP) — This isn’t a week when coach Todd Bowles feels he needs to find the right words to ensure his Tampa Bay Buccaneers are motivated to face the last-place Carolina Panthers. The Bucs (8-7) have won eight of the last nine meetings between the NFC South rivals, including the past three with Baker Mayfield at quarterback. It hasn’t exactly been smoothly sailing against the Panthers (4-11), though, for the three-time defending division champions. And, with at least a share of first place on the line Sunday, Bowles and his players say they are focused solely on rebounding from last week’s disappointing loss to the Dallas Cowboys. “We know it’s going to be a tough ballgame. It went overtime last time. They’re coached very well; they play very hard,” Bowles said, referencing Tampa Bay’s 26-23 win at Carolina on Dec. 1. “We know what’s at stake for us. It doesn’t need to be talked about. Everybody understands that,” Bowles added. “We’ve got to clean up our own mistakes, and we’ve got to play an error-free football game.” The Bucs are tied with Atlanta for the best record in the NFC South, however the Falcons (8-7) hold the tiebreaker after sweeping the season series between the teams. To claim a fourth straight division title, Tampa Bay needs to win remaining home games against the Panthers and New Orleans Saints while Atlanta loses at least once in the last two weeks of the regular season. If the Falcons hold on to win the South, the Bucs can earn a wild-card playoff berth if they win out and the Washington Commanders lose twice. Mayfield, who has resurrected his career since being released by Carolina two years ago, summed up the attitude in a resilient locker room. The Bucs have won four of five games following a four-game losing streak threatened their playoff hopes. “I keep saying it, this team has the mental makeup of a great team. We just have to continue to fight and find ways to win,” the quarterback said. “If we don’t take of business, we won’t be in the playoffs.” Panthers running back Chuba Hubbard cost his team the game four weeks ago against Tampa Bay when he fumbled on the second possession of overtime just after Carolina had reached field goal range. Mayfield responded by leading the Bucs back down the field for the winning field goal. The loss was devastating for Hubbard at the time, but he promised himself when the opportunity arose again he’d make the most of it. He did that this past Sunday, when he carried twice for 49 yards, including a 21-yard touchdown run in which he broke two tackles, in overtime to lift the Panthers to a 36-30 win over Arizona, knocking the Cardinals out of the playoff hunt. “I’d let it go, but it’s definitely been in the back of my head a little bit,” Hubbard said. “Like I said, when the next opportunity came, I told myself I’m going to get it back for them. To be able to have them trust me in that opportunity again, and to have it in that way is a blessing from God.” Bryce Young has shown solid progress in his decision making, particularly when the pocket begins to break down. Last week, the second-year QB ran for a career-best 68 yards, including a 24-yard touchdown. Young was benched after two games this season, but since returning to the lineup has played better, restoring some faith that perhaps the No. 1 overall pick in 2023 can be the team’s quarterback of the future. “Just time in the system and time as a team for us to come together,” Young said of why he has improved. “For me, being able to get reps, and get time with everyone. It’s just all of us being able to feed off of each other, and it’s been able to allow us to turn in the right direction.” The Panthers have been abysmal against the run, allowing nearly 200 yards per game on the ground over the last seven games. In the last meeting with Tampa Bay, Bucky Irving ran for a career-high 152 yards and a touchdown, so Carolina’s defense has a good idea of what's coming Sunday. Mayfield has beaten Carolina three times since joining the Bucs in 2023. All of the meetings have been close, though, with the Panthers losing twice by three points and Tampa Bay settling for three field goals in a 9-0 regular season-ending victory that clinched its third straight NFC South championship last January. “We know them well. They know us well,” Mayfield said. AP Sports Writer Steve Reed in Charlotte, North Carolina, contributed to this report. NFL: https://apnews.com/hub/nfl
Salesforce Inc earnings missed by $0.03, revenue topped estimatesThe most wonderful time of the year is here. We're not talking about the holiday season — we're talking about the World Juniors. Hockey fans, the wait is finally over. The presents have been unwrapped, the stockings have been taken down from the fireplace and the Christmas dinner has turned into leftovers. Now the focus turns to the annual international competition featuring the future stars of the NHL. Ottawa, Canada is the site for this year's competition, featuring 10 of the top U20 teams from around the world who are gunning for a gold medal. The United States enters the tournament as the defending gold medallists from 2024, going undefeated at last year's World Juniors and knocking off Sweden in the gold medal game. Competing at the tournament is mostly a mix of prospects from the 2023 and 2024 NHL Draft classes, highlighted by first-round picks Ryan Leonard (USA), Gabe Perreault (USA), Zeev Buium (USA), Sam Dickinson (Canada), Brayden Yager (Canada), Axel Sandin-Pellikka (Sweden) and Konsta Helenius (Finland). However, there are also 2025 and 2026 draft-eligible players highlighting rosters at this year's competition. That includes James Hagens (USA), Matthew Schaefer (Canada), Porter Martone (Canada) and Viktor Eklund (Sweden), who are all potential top-10 candidates for the 2025 draft. Gavin McKenna (Canada), the leading candidate to go first overall in 2026, will be at the tournament as well. The Sporting News has fans covered on the latest results and standings from the 2025 World Juniors. SN's NHL HQ: Live NHL scores | Updated NHL standings | Full NHL schedule World Juniors standings 2025 Group A Team Games Wins OT Wins OT Losses Losses Points USA 1 1 0 0 0 3 Finland 0 0 0 0 0 0 Canada 0 0 0 0 0 0 Latvia 0 0 0 0 0 0 Germany 1 0 0 0 1 0 Group B Team Games Wins OT Wins OT Losses Losses Points Sweden 1 1 0 0 0 3 Czechia 0 0 0 0 0 0 Kazakhstan 0 0 0 0 0 0 Switzerland 0 0 0 0 0 0 Slovakia 1 0 0 0 1 0 * = advances to knockout stage ** = plays in relegation game Teams will play four preliminary games in a round-robin format within their group, followed by a three-round playoff. In the group stage, teams earn three points for a regulation win, two points for an overtime win, one point for an overtime loss and no points for a regulation loss. The top four teams from each group advance to the quarterfinals, where the matchups are determined by seeding. They will cross over between groups for these games: 1A vs. 4B, 1B vs. 4A, 2A vs. 3B and 2B vs. 3A. The teams that advance to the semifinals will be reseeded. The winners of the semifinals will face off in the gold medal game. The losers will play for bronze. 2025 World Juniors schedule, results Thursday, Dec. 26 Matchup Time (ET) Sweden 5, Slovakia 1 FINAL USA 10 , Germany 4 FINAL Czechia vs. Switzerland 5 p.m. Finland vs. Canada 7:30 p.m. Friday, Dec. 27 Matchup Time (ET) Switzerland vs. Slovakia 1 p.m. Germany vs. Finland 3:30 p.m. Sweden vs. Kazakhstan 5 p.m. Latvia vs. Canada 7:30 p.m. Saturday, Dec. 28 Matchup Time (ET) Kazakhstan vs. Czechia 1 p.m. Latvia vs. USA 3:30 p.m. Sunday, Dec. 29 Matchup Time (ET) Switzerland vs. Sweden Noon USA vs. Finland 2:30 p.m. Czechia vs. Slovakia 5 p.m. Canada vs. Germany 7:30 p.m. Monday, Dec. 30 Matchup Time (ET) Slovakia vs. Kazakhstan 1 p.m. Germany vs. Latvia 3:30 p.m. Tuesday, Dec. 31 Matchup Time (ET) Kazakhstan vs. Switzerland Noon Finland vs. Latvia 2:30 p.m. Sweden vs. Czechia 5 p.m. Canada vs. USA 8 p.m. Thursday, Jan. 2 Matchup Time (ET) TBD vs. TBD - Relegation Game 11 a.m. TBD vs. TBD - Quarterfinal Noon TBD vs. TBD - Quarterfinal 2:30 p.m. TBD vs. TBD - Quarterfinal 5 p.m. TBD vs. TBD - Quarterfinal 7:30 p.m. Saturday, Jan. 4 Matchup Time (ET) TBD vs. TBD - Semifinal 3:30 p.m. TBD vs. TBD - Semifinal 7:30 p.m. Sunday, Jan. 5 Matchup Time (ET) TBD vs. TBD - Bronze Medal Game 3:30 p.m. TBD vs. TBD - Gold Medal Game 7:30 p.m.Villa held to 0-0 draw by depleted Juventus
Jimmy Carter, a peanut farmer and little-known Georgia governor who became the 39th president of the United States, promising “honest and decent” government to Watergate-weary Americans, and later returned to the world stage as an influential human rights advocate and Nobel Peace Prize winner, has died. He was 100. When his turbulent presidency ended after a stinging reelection loss in 1980, Carter retreated to Plains, his political career over. Over the four decades that followed, though, he forged a legacy of public service, building homes for the needy, monitoring elections around the globe and emerging as a fearless and sometimes controversial critic of governments that mistreated their citizens. He lived longer than any U.S. president in history and was still regularly teaching Bible classes at his hometown Maranatha Baptist Church well into his 90s. During his post-presidency, he also wrote more than 30 books, including fiction, poetry, deeply personal reflections on his faith, and commentaries on Middle East strife. Though slowed by battles with brain and liver cancer and a series of falls and hip replacement in recent years, he returned again and again to his charity work and continued to offer occasional political commentary, including in support of mail-in voting ahead of the 2020 presidential election. Carter was in his first term as Georgia governor when he launched his campaign to unseat President Ford in the 1976 election. At the time, the nation was still shaken by President Nixon’s resignation in the Watergate scandal and by the messy end of the Vietnam War. As a moderate Southern Democrat, a standard-bearer of what was then regarded as a more racially tolerant “new South,” Carter promised a government “as good and honest and decent and competent and compassionate and as filled with love as are the American people.” But some of the traits that had helped get Carter elected — his willingness to take on the Washington establishment and his preference for practicality over ideology — didn’t serve him as well in the White House. He showed a deep understanding of policy, and a refreshing modesty and disregard for the ceremonial trappings of the office, but he was unable to make the legislative deals expected of a president. Even though his Democratic Party had a majority in Congress throughout his presidency, he was impatient with the legislative give-and-take and struggled to mobilize party leaders behind his policy initiatives. His presidency also was buffeted by domestic crises — rampant inflation and high unemployment, as well as interminable lines at gas stations triggered by a decline in the global oil supply exacerbated by Iran’s Islamic Revolution. “Looking back, I am struck by how many unpopular objectives we pursued,” Carter acknowledged in his 2010 book, “White House Diary.” “I was sometimes accused of ‘micromanaging’ the affairs of government and being excessively autocratic,” he continued, “and I must admit that my critics probably had a valid point.” Carter’s signature achievements as president were primarily on the international front, and included personally brokering the Camp David peace accords between Egypt and Israel, which have endured for more than 40 years. But it was another international crisis — the storming of the U.S. Embassy in Tehran by Iranian revolutionaries and the government’s inability to win the release of 52 Americans taken hostage — that would cast a long shadow on his presidency and his bid for reelection. Carter authorized a secret military mission to rescue the hostages in April 1980, but it was aborted at the desert staging area; during the withdrawal, eight servicemen were killed when a helicopter crashed into a transport aircraft. The hostages were held for 444 days, a period that spanned Carter’s final 15 months in the White House. They were finally freed the day his successor, Ronald Reagan, took the oath of office. Near the end of Carter’s presidency, one poll put his job approval rating at 21% — lower than Nixon’s when he resigned in disgrace and among the lowest of any White House occupant since World War II. In a rarity for an incumbent president, Carter faced a formidable primary challenge in 1980 from Sen. Edward M. Kennedy, a favorite of the Democratic Party’s liberal wing. Although Carter prevailed, his nomination was in doubt until the party’s August convention. The enmity between Carter and Kennedy, two of the most important Democratic political figures of their generation, continued throughout their lives. In Kennedy’s memoir, published shortly after his death in 2009, he called Carter petty and guilty of “a failure to listen.” While promoting the publication of “White House Diary,” Carter said Kennedy had “deliberately” blocked Carter’s comprehensive healthcare proposals in the late 1970s in hopes of defeating the president in the primary. In the 1980 general election, Carter faced Reagan, then 69, who campaigned on a promise to increase military spending and rescue the economy by cutting taxes and decreasing regulation. Carter lost in a 51% to 41% thumping — he won just six states and the District of Columbia — that devastated the man known for his toothy smile and sent him back to his hometown, an ex-president at 56. A year later, he and Rosalynn founded the Carter Center, which pressed for peaceful solutions to world conflicts, promoted human rights and worked to eradicate disease in the poorest nations. The center, based in Atlanta, launched a new phase of Carter’s public life, one that would move the same historians who called Carter a weak president to label him one of America’s greatest former leaders. His post-presidential years were both “historic and polarizing,” as Princeton University historian Julian E. Zelizer put it in a 2010 biography of Carter. Zelizer said Carter “refused to be constrained politically when pursuing his international agenda” as an ex-president, and became “an enormously powerful figure on the international stage.” When Carter appeared on “The Colbert Report” in 2014, host Stephen Colbert asked him, “You invented the idea of the post-presidency. What inspired you to do that?” “I didn’t have anything else to do,” Carter replied. He traveled widely to mediate conflicts and monitor elections around the world, joined Habitat for Humanity to promote “sweat equity” for low-income homeownership, and became a blunt critic of human rights abuses. He angered conservatives and some liberals by advocating negotiations with autocrats — and his criticism of Israeli leaders and support for Palestinian self-determination angered many Jews. A prolific author, Carter covered a range of topics, including the Middle East crisis and the virtues of aging and religion. He penned a memoir on growing up in the rural South as well as a book of poems, and he was the first president to write a novel — “The Hornet’s Nest,” about the South during the Revolutionary War. He won three Grammy Awards as well for best spoken-word album, most recently in 2019 for “Faith: A Journey For All.” As with many former presidents, Carter’s popularity rose in the years after he left office. He was awarded the Nobel Peace Prize in 2002 for “decades of untiring effort to find peaceful solutions to international conflicts” and to advance democracy and human rights. By then, two-thirds of Americans said they approved of his presidency. “Jimmy Carter may never be rated a great president,” wrote Charles O. Jones, a University of Wisconsin political scientist, in his chronicle of the Carter presidency. “Yet it will be difficult in the long run to sustain censure of a president motivated to do what is right.” The journey for James Earl Carter Jr. began on Oct. 1, 1924, in the tiny Sumter County, Ga., town of Plains, home to fewer than 600 people in 2020. He was the first president born in a hospital, but he lived in a house without electricity or indoor plumbing until he was a teenager. His ancestors had been in Georgia for more than two centuries, and he was the fifth generation to own and farm the same land. His father, James Earl Carter Sr., known as Mr. Earl, was a strict disciplinarian and a conservative businessman of some means. His mother, known as Miss Lillian, had more liberal views — she was known for her charity work and for taking in transients and treating Black residents with kindness. (At the age of 70, she joined the Peace Corps, working in India.) Inspired by an uncle who was in the Navy, Carter decided as a first-grader that he wanted to go to the Naval Academy in Annapolis, Md. He became the first member of his family to finish high school, then attended Georgia Tech before heading for the academy, where he studied engineering and graduated in 1946, 59th in a class of 820. Before his last year in Annapolis, while home for the summer, he met Eleanor Rosalynn Smith, a friend of his sister Ruth’s. He and a friend invited the two young women to the movies, and when he returned home that night, he told his mother he had met “the girl I want to marry.” He proposed that Christmas, but Rosalynn declined because she felt she was too young (she was 18 and a sophomore in college). Several weeks later, while she was visiting Carter at the academy, he asked again. This time she said yes. Carter applied to America’s new nuclear-powered submarine program under the command of the icy and demanding Capt. (later Adm.) Hyman Rickover. During Carter’s interview, Rickover asked whether he had done his best at Annapolis. “I started to say, ‘Yes, sir,’ but ... I recalled several of the many times at the Academy when I could have learned more about our allies, our enemies, weapons, strategy and so forth,” Carter wrote in his autobiography. “... I finally gulped and said, ‘No, sir, I didn’t always do my best.’” To which Rickover replied: “Why not?” Carter got the job, and would later make “Why not the best?” his campaign slogan. The Carters had three sons, who all go by nicknames — John William “Jack,” James Earl “Chip” and Donnel Jeffrey “Jeff.” Carter and Rosalynn had wanted to have more children, but an obstetrician said that surgery Rosalynn had to remove a tumor on her uterus would make that impossible. Fifteen years after Jeffrey was born, the Carters had a daughter, Amy, who “made us young again,” Carter would later write. While in the Navy, Carter took graduate courses in nuclear physics and served as a submariner on the USS Pomfret. But his military career was cut short when his father died, and he moved back to Georgia in 1953 to help run the family business, which was in disarray. In his first year back on the farm, Carter turned a profit of less than $200, the equivalent of about $2,200 today. But with Rosalynn’s help, he expanded the business. In addition to farming 3,100 acres, the family soon operated a seed and fertilizer business, warehouses, a peanut-shelling plant and a cotton gin. By the time he began his campaign for the White House 20 years later, Carter had a net worth of about $800,000, and the revenue from his enterprises was more than $2 million a year. Carter entered electoral politics in 1962, and asked voters to call him “Jimmy.” He ran for a seat in the Georgia Senate against an incumbent backed by a local political boss who stuffed the ballot box. Trailing by 139 votes after the primary, Carter waged a furious legal battle, which he described years later in his book “Turning Point.” Carter got a recount, the primary result was reversed, and he went on to win the general election. The victory was a defining moment for Carter, the outsider committed to fairness and honesty who had successfully battled establishment politicians corrupted by their ties to special interests. In two terms in the Georgia Senate, Carter established a legislative record that was socially progressive and fiscally conservative. He first ran for governor in 1966, but finished third in the primary. Over the next four years, he made 1,800 speeches and shook hands with an estimated 600,000 people — a style of campaigning that paid off in the 1970 gubernatorial election and later in his bid for the White House. In his inaugural address as governor in 1971, Carter made national news by declaring that “the time for racial discrimination is over.” He had a portrait of the Rev. Martin Luther King Jr. hung in a hall at the Capitol in Atlanta. But when Carter launched his official campaign for the White House in December 1974, he was still so little-known outside Georgia that a celebrity panel on the TV show “What’s My Line?” couldn’t identify him. In the beginning, many scoffed at the temerity of a peanut farmer and one-term governor running for the highest office in the land. After Carter met with House Speaker Thomas P. “Tip” O’Neill Jr., the speaker was asked whom he had been talking to. “Some fellow named Jimmy Carter from Georgia. Says he’s running for president,” O’Neill replied. In a meeting with editors of the Los Angeles Times in 1975, Carter said he planned to gain the presidency by building a network of supporters and by giving his candidacy an early boost by winning the Iowa caucuses. Until then, Iowa had been a bit player in the nominating process, mostly ignored by strategists. But Carter’s victory there vaulted him to front-runner status — and Iowa into a major role in presidential nominations. His emergence from the pack of Democratic hopefuls was helped by the release of his well-reviewed autobiography “Why Not the Best?” in which he described his upbringing on the farm and his traditional moral values. On the campaign trail, Carter came across as refreshingly candid and even innocent — an antidote to the atmosphere of scandal that had eroded confidence in public officials since the events leading to Nixon’s resignation on Aug. 9, 1974. A Baptist Sunday school teacher, Carter was among the first presidential candidates to embrace the label of born-again Christian. That was underscored when, in an interview with Playboy magazine, he made headlines by admitting, “I’ve looked on many women with lust. I’ve committed adultery in my heart many times. God knows I will do this and forgives me.” Carter had emerged from the Democratic National Convention in July with a wide lead over Ford, Nixon’s vice president and successor, but by the time of the Playboy interview in September, his numbers were tumbling. By election day, the contest was a dead heat. Carter, running on a ticket with Walter F. Mondale for his vice president, eked out a victory with one of the narrower margins in U.S. presidential history, winning 50.1% to 48% of the popular vote and 297 electoral votes, 27 more than needed. Many of Carter’s supporters hoped he would usher in a new era of liberal policies. But he saw his role as more of a problem-solver than a politician, and as an outsider who promised to shake things up in Washington, he often acted unilaterally. A few weeks into his term, Carter announced that he was cutting off federal funding to 18 water projects around the country to save money and protect the environment. Lawmakers, surprised by the assault on their pet projects, were livid. He ultimately backed down on some of the cuts. But his relationship with Congress never fully healed. Members often complained that they couldn’t get in to see him, and that when they did he was in a rush to show them the door. His relationship with the media, as he acknowledged later in life, was similarly fraught. Carter’s image as a reformer also took a hit early in his presidency after he appointed Bert Lance, a longtime confidant, to head the Office of Management and Budget. Within months of the appointment, questions were raised about Lance’s personal financial affairs as a Georgia banker. Adamant that Lance had done nothing wrong, Carter dug in his heels and publicly told his friend, “Bert, I’m proud of you.” Still, Lance resigned under pressure, and although he was later acquitted of criminal charges, the damage to Carter had been done. As Mondale later put it: “It made people realize that we were no different than anybody else.” When Carter did score legislative victories, the cost was high. In 1978, he pushed the Senate to ratify the Panama Canal treaties to eventually hand control of the canal over to Panama. But conservatives criticized the move as a diminution of U.S. strength, and even the Democratic National Committee declined to endorse it. Carter’s most significant foreign policy accomplishment was the 1978 Camp David agreement, a peace pact between Israel and Egypt. But he followed that with several unpopular moves, including his decree that the United States would not participate in the 1980 Summer Olympics in Moscow, as a protest against the Soviet Union’s invasion of Afghanistan. It was the only time in Olympic history that the United States had boycotted an Olympics; the Soviets responded by boycotting the 1984 Summer Games in Los Angeles. Carter had taken a series of largely symbolic steps to dispel the imperial image of the presidency. After he took the oath of office on a wintry day, he and the new first lady emerged from their motorcade and walked part of the way from the Capitol to the White House. He ended chauffeur-driven cars for top staff members, sold the presidential yacht, went to the White House mess hall for lunch with the staff and conducted town meetings around the country. He suspended the playing of “Hail to the Chief” whenever he arrived at an event, though he later allowed the practice to resume. On the domestic front, he was saddled with a country in crisis. Inflation galloped at rates up to 14%, and global gasoline shortages closed service stations and created high prices and long lines. Interest rates for home mortgages soared above 14%. In his first televised fireside chat, he wore a cardigan sweater and encouraged Americans to conserve energy during the winter by keeping their thermostats at 65 degrees in the daytime and 55 degrees at night. He also proposed a string of legislative initiatives to deal with the crisis, but many were blocked by Congress. In what would become a seminal moment in his presidency, Carter addressed the nation — and a television audience of more than 60 million — on a Sunday evening in 1979, saying the country had been seized by a “crisis of confidence ... that strikes at the very heart and soul and spirit of our national will.” He outlined a series of proposals to develop new sources of energy. The address, widely known as the “malaise speech” even though Carter never used that word, was generally well-received at the time, though some bristled at the implication that Americans were to blame for the country’s problems. Any positive glow disappeared two days later, when Carter fired five of his top officials, including the Energy, Treasury and Transportation secretaries and his attorney general. The value of the dollar sank and the stock market tumbled. Sensing that Carter was politically vulnerable, Kennedy moved to present himself as an alternative for the 1980 Democratic nomination, publicly criticizing the president’s agenda. But Kennedy damaged his own candidacy in a prime-time interview with CBS’ Roger Mudd: Asked why he was running for president, Kennedy fumbled his answer, and critics cited it as evidence that the senator didn’t want the job so much as he felt obligated to seek it. A few months after the malaise speech, in late 1979, revolutionaries loyal to Iran’s spiritual leader, the Ayatollah Ruhollah Khomeini, seized the U.S. Embassy in Tehran, taking 52 Americans hostage. Weeks stretched into months, with Iran refusing all efforts to negotiate a hostage release. In April 1980, Carter approved Operation Eagle Claw, a secret Delta Force rescue mission. But it ended in disaster — mechanical trouble sidelined three helicopters and, after the mission was aborted, one of the remaining helicopters collided with a transport plane on the ground, killing eight soldiers. Secretary of State Cyrus R. Vance resigned before the mission, believing the plan too risky. Negotiations to free the hostages resumed, and Carter desperately tried to win their release before the November election. But the Iranians prolonged the talks and the hostages weren’t released until Jan. 20, 1981, moments after Carter watched Reagan being sworn in. The journey home for Carter was painful. Of those who voted for Reagan in 1980, nearly 1 in 4 said they were primarily motivated by their dissatisfaction with Carter. Carter faced “an altogether new, unwanted and potentially empty life,” as he later put it. He sold the family farm-supply business, which had been placed in a blind trust during his presidency and was by then deeply in debt. Then, as Rosalynn later recalled, Carter awoke one night with an idea to build not just a presidential library but a place to resolve global conflicts. Together, they founded the nonprofit, nonpartisan Carter Center. His skill as a mediator made Carter a ready choice for future presidents seeking envoys to navigate crises. Republican President George H.W. Bush sent him on peace missions to Ethiopia and Sudan, and President Clinton, a fellow Democrat, dispatched him to North Korea, Haiti and what then was Yugoslavia. Carter described his relationship with President Obama as chilly, however, in part because he had openly criticized the administration’s policies toward Israel. He felt Obama did not strongly enough support a separate Palestinian state. “Every president has been a very powerful factor here in advocating this two-state solution,” Carter told the New York Times in 2012. “That is now not apparent.” As an election observer, he called them as he saw them. After monitoring presidential voting in Panama in 1989, he declared that Manuel Noriega had rigged the election. He also began building houses worldwide for Habitat for Humanity, and he wrote prodigiously. The Nobel committee awarded Carter the Peace Prize in 2002, more than two decades after he left the White House, praising him for standing by “the principles that conflicts must as far as possible be resolved through mediation and international cooperation.” During his 70s, 80s and even into his 90s, the former president showed an energy that never failed to impress those around him. In his 1998 book “The Virtues of Aging,” he urged retirees to remain active and engaged, and he followed his own advice, continuing to jog, play tennis and go fly-fishing well into his 80s. When his “White House Diary” was published in 2010, he embarked on a nationwide book tour at 85, as he did in 2015 with the publication of “A Full Life: Reflections at 90.” When he told America he had cancer that had spread to his liver and brain, it was vintage Carter. Wearing a coat and tie and a pair of blue jeans, he stared into the television cameras and was unflinchingly blunt about his prognosis. “Hope for the best; accept what comes,” he said. “I think I have been as blessed as any human being in the world.” Former Times staff writers Jack Nelson, Robert Shogan and Johanna Neuman contributed to this report.
PTI Mumbai Caretaker Chief Minister Eknath Shinde on Wednesday announced the Shiv Sena would support the decisions of Prime Minister Narendra Modi and Union Home Minister Amit Shah to name the next Maharashtra CM, paving the way for the BJP to head the new government. With Shinde declaring the Shiv Sena would not be a “hurdle” in the formation of new government, two-time BJP chief minister Devendra Fadnavis, one of the architects of the ruling Mahayuti’s grand win in the just-held state assembly polls, is emerging as a front-runner for the top post. The caretaker CM’s declaration at a press conference in his political turf Thane marks a significant step toward a smooth transition of power after the BJP-led ruling alliance achieved a stunning victory in the November 20 polls. As discussions about the new government intensify, political observers are closely watching the developments that may soon lead to Fadnavis being appointed as the new chief minister with two deputy CMs. Shinde (60), alongside his outgoing deputies Fadnavis and Ajit Pawar of the Nationalist Congress Party (NCP), is expected to meet with Shah in New Delhi on Thursday to further discuss modalities of the government formation. Maharashtra NDA leaders are also likely to meet the top BJP brass here on Thursday, BJP sources said, indicating the formula of one chief minister and two deputy CMs representing the all three major ‘Mahayuti’ constituents (BJP, Shiv Sena, NCP) will be followed in the new government. Shinde, who heads the Shiv Sena, may swap his position with Fadnavis, while Pawar will continue as one of the two deputy CMs, the sources said. However, the details of the new government are likely to be given a concrete shape in the meeting of the state’s ruling alliance leaders with the BJP’s national leadership. Talking to reporters at his Thane residence, five days after the resounding victory of the Mahayuti alliance, Shinde said, “I spoke to the Prime Minister and the Home Minister and assured them that there will be no hindrance from our side.” “Our Shiv Sena will fully support the BJP’s decision to name the next Maharashtra CM. There is no speed breaker from our side,” Shinde said, showing no trace on his face of having to swallow the bitter pill. Ajit Pawar told reporters the new CM is likely to be sworn in either on November 30 or December 1. There will be two deputy chief ministers in the incoming government, added the NCP leader. Shinde rubbished reports he was disappointed for not getting a second term as CM despite the ruling alliance winning a thumping victory under his leadership. “Nobody is annoyed. We have worked as Mahayuti,” the Shiv Sena leader, who assumed the top office in June 2022, asserted. Asked if he was dismayed that he was not getting a second term, Shinde said, “There is no such thing. You must remember that BJP supported my tenure as CM.” “There is a meeting in Delhi tomorrow with Amit Bhai (Shah) and all related decisions will be taken there,” Shinde said. “I thank the people and voters of Maharashtra for this landslide victory in the assembly elections. I am a worker forever; for me, CM is not Chief Minister but common man,” he noted. Shinde thanked PM Modi and Home Minister Shah for supporting him during his two-and-a-half year tenure as chief minister. “I am not disappointed. We fight and don’t cry,” Shinde said, referring to media reports that he was unhappy over being asked to step down despite leading the Mahayuti to poll victory. Maharashtra BJP chief Chandrashekhar Bawankule thanked Shinde for stating that he will abide by the decision of the top BJP leadership on the next chief minister.
Amazon's Douglas Herrington sells $1.22 million in stockRuud van Nistelrooy enjoyed a dream start to his reign as Leicester manager after a 3-1 win over West Ham, whose boss Julen Lopetugui is under increasing pressure. Van Nistelrooy has replaced Steve Cooper at the King Power Stadium and saw Jamie Vardy open the scoring after just 98 seconds. Bilal El Khannouss and Patson Daka added goals after the break to ensure the Dutchman started with three points in style. Starting with a win! 🤩 Delivered by @bcgame #LEIWHU pic.twitter.com/X90nFSbMLm — Leicester City (@LCFC) December 3, 2024 His task is to keep the Foxes in the Premier League this season and after ending a five-game winless run they moved up to 15th, four points clear of the relegation zone. West Ham’s hierarchy will have seen what impact a managerial change can have as the jury remains out on Lopetegui, with away fans making their feelings clear by chanting “You’re getting sacked in the morning”. Niclas Fullkrug scored a consolation goal at the death but it counted for nothing and forthcoming games against Wolves, Bournemouth, Brighton and Southampton could determine the Spaniard’s future. When Van Nistelrooy went to bed last night, even he would not have dreamt of his side starting as well as they did as they went ahead with less than two minutes on the clock. One of the Dutchman’s first conversations following his appointment was to take Vardy to task for breaking his record for scoring in the most consecutive Premier League games nine years ago. And the veteran striker rolled back to the years as, living on the shoulder of the West Ham defence, he raced clear from El Khannouss’ through-ball and slotted into the corner. The linesman’s flag immediately went up but a lengthy VAR review ruled Vardy had timed his run perfectly and the goal stood. Vardy could have added a second from a similar move but this time Lukasz Fabianski denied him. The Dutchman quickly learned about the frailties of his side as West Ham created a raft of chances in search of an equaliser. Jarrod Bowen forced Mads Hermansen into a stretching save when he cut in from the right before Ings’ header crashed into the post and Max Kilman slipped at the crucial point from the rebound. Bowen, a constant threat, sent a ball across face of goal which evaded everyone before the England international was denied by a reflex save from the busy Hermansen. The Danish goalkeeper needed to be alert to tip over Mohammed Kudus’ deflected effort early in the second half before he was saved by the referee’s whistle after after his attempted punch went into his own goal, Tomas Soucek the man penalised. Leicester remained a threat on the counter-attack and that is how they doubled their lead just after the hour. Kasey McAteer was set clear down the left and his ball inside was perfect for El Khannouss to find the bottom corner from 15 yards. It was almost three as Fabianski produced an acrobatic save from Wilfred Ndidi’s header before Leicester needed a heroic piece of defending to keep their 2-0 lead intact. Crysencio Summerville bundled the ball goalwards and it was heading over the line until Conor Coady adjusted his feet and poked it clear. The Foxes, who also had a goal from substitute Bobby De Cordova-Reid chalked off by VAR, wrapped things up in the 90th minute when Daka broke clear and emphatically converted into the roof of the net. West Ham did get on the scoresheet when Fullkrug headed a corner home, but the game was already done.
Brazil's top court takes on regulation of social media
Grandson of former commandant of Auschwitz on rise of antisemitismAmazon's Douglas Herrington sells $1.22 million in stockCITY OF INDUSTRY, Calif.--(BUSINESS WIRE)--Dec 3, 2024-- Torrid Holdings Inc. (“Torrid” or the “Company”) (NYSE: CURV), a direct-to-consumer apparel, intimates, and accessories brand in North America for women sizes 10 to 30, today announced its financial results for the quarter ended November 2, 2024. Lisa Harper, Chief Executive Officer of Torrid, stated, “Our third quarter results were below our expectations as our fall assortments did not offer enough newness and novelty. We also saw the environment change meaningfully from the end of September and into October. Despite the weaker top line sales, we delivered a positive full-price comp, 285 basis points of gross profit expansion, and modest Adjusted EBITDA (1) growth. We ended the quarter with clean inventory levels, down 19% to last year, and $44 million in cash.” Ms. Harper continued, “While we are encouraged by our customers’ response to the newness in our assortments, given the volatility we have seen in our business, and recognizing that there is still considerable amount of the quarter ahead of us, we are taking a prudent approach to our fourth quarter outlook. As we move into fiscal 2025, we are confident that we have put in place the necessary changes and strategies to position us for growth.” Financial Highlights for the Third Quarter of Fiscal 2024 Third Quarter of Fiscal 2024 Financial and Operating Metrics November 2, 2024 October 28, 2023 Number of stores (as of end of period) 655 643 Three Months Ended (in thousands, except percentages) November 2, 2024 October 28, 2023 Comparable sales (A) (7 )% (8 )% Net loss $ (1,194 ) $ (2,748 ) Adjusted EBITDA (B) $ 19,584 $ 19,379 (A) Comparable sales (2) for the three-month period ended November 2, 2024 compares sales for the 13-week period ended November 2, 2024, with sales for the 13-week period ended November 4, 2023. (B) Please refer to “Non-GAAP Reconciliation” below for a reconciliation of net loss to Adjusted EBITDA (1). Balance Sheet and Cash Flow Cash and cash equivalents at the end of the third quarter of 2024 totaled $44.0 million. Total liquidity at the end of the quarter, including available borrowing capacity under our revolving credit agreement, was $151.8 million. Cash flow from operations for the nine-month period ended November 2, 2024, was $65.4 million, compared to $33.7 million for the nine-month period ended October 28, 2023. Outlook For the fourth quarter of fiscal 2024 the Company expects: For the full year 2024, which has 52 weeks compared to 53 weeks in full year 2023, the Company expects: The above outlook is based on several assumptions, including, but not limited to, the macroeconomic challenges in the industry in fiscal 2024 as well as higher labor costs. The above outlook does not take into consideration the Consumer Financial Protection Bureau ruling which mandates, among other things, decreases in credit card late fees, and could alter the profitability of our agreements with our private label credit card financing company. See “Forward-Looking Statements” for additional information. Conference Call Details A conference call to discuss the Company’s third quarter 2024 results is scheduled for December 3, 2024, at 4:30 p.m. ET. Those who wish to participate in the call may do so by dialing (877) 407-9208 or (201) 493-6784 for international callers. The conference call will also be webcast live at https://investors.torrid.com . For those unable to participate, a replay of the conference call will be available approximately three hours after the conclusion of the call until December 10, 2024. Notes Adjusted EBITDA is a non-GAAP financial measure. See “Non-GAAP Financial Measures” and “Non-GAAP Reconciliation” for additional information on non-GAAP financial measures and the accompanying table for a reconciliation to the most comparable GAAP measure. The Company does not provide reconciliations of the forward-looking non-GAAP measures of Adjusted EBITDA to the most directly comparable forward-looking GAAP measure because the timing and amount of excluded items are unreasonably difficult to fully and accurately estimate. For the same reasons, the Company is unable to address the probable significance of the unavailable information, which could be material to future results. Comparable sales for any given period are defined as the sales of our e-Commerce operations and stores that we have included in our comparable sales base during that period. We include a store in our comparable sales base after it has been open for 15 full fiscal months. If a store is closed during a fiscal year, it is only included in the computation of comparable sales for the full fiscal months in which it was open. Comparable sales for the third quarter of fiscal year 2024 compares sales for the 13-week period ended November 2, 2024, with sales for the 13-week period ended November 4, 2023. Partial fiscal months are excluded from the computation of comparable sales. We apply current year foreign currency exchange rates to both current year and prior year comparable sales to remove the impact of foreign currency fluctuation and achieve a consistent basis for comparison. Comparable sales allow us to evaluate how our unified commerce business is performing exclusive of the effects of non-comparable sales and new store openings. About Torrid TORRID is a direct-to-consumer brand in North America dedicated to offering a diverse assortment of stylish apparel, intimates, and accessories skillfully designed for curvy women. Specializing in sizes 10 to 30, TORRID’s primary focus is on providing fashionable, comfortable, and affordable options that meet the unique needs of its customers. TORRID’s extensive collection features high quality merchandise, including tops, bottoms, denim, dresses, intimates, activewear, footwear, and accessories. Revenues are generated primarily through its e-Commerce platform www.torrid.com and its stores in the United States of America, Puerto Rico and Canada. Non-GAAP Financial Measures In addition to results determined in accordance with accounting principles generally accepted in the United States of America (“GAAP”), management utilizes certain non-GAAP performance measures, such as Adjusted EBITDA, for purposes of evaluating ongoing operations and for internal planning and forecasting purposes. We believe that these non-GAAP operating measures, when reviewed collectively with our GAAP financial information, provide useful supplemental information to investors in assessing our operating performance. Adjusted EBITDA is a supplemental measure of our operating performance that is neither required by, nor presented in accordance with, GAAP and our calculations thereof may not be comparable to similarly titled measures reported by other companies. Adjusted EBITDA represents GAAP net income (loss) plus interest expense less interest income, net of other expense (income), plus provision for income taxes, depreciation and amortization (“EBITDA”), and share-based compensation, non-cash deductions and charges, and other expenses We believe Adjusted EBITDA facilitates operating performance comparisons from period to period by isolating the effects of certain items that vary from period to period without any correlation to ongoing operating performance. We also use Adjusted EBITDA as one of the primary methods for planning and forecasting the overall expected performance of our business and for evaluating on a quarterly and annual basis, actual results against such expectations. Further, we recognize Adjusted EBITDA as a commonly used measure in determining business value and, as such, use it internally to report and analyze our results and as a benchmark to determine certain non-equity incentive payments made to executives. Adjusted EBITDA has limitations as an analytical tool. This measure is not a measurement of our financial performance under GAAP and should not be considered in isolation or as an alternative to or substitute for net income (loss), income (loss) from operations, earnings (loss) per share or any other performance measures determined in accordance with GAAP or as an alternative to cash flows from operating activities as a measure of our liquidity. Our presentation of Adjusted EBITDA should not be construed as an inference that our future results will be unaffected by unusual or non-recurring items. Forward-Looking Statements Certain statements made in this earnings release are “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended (the “Securities Act”) and Section 21E of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), and are subject to the safe harbor created thereby under the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical or current fact included in this earnings release are forward-looking statements. Forward-looking statements reflect our current expectations and projections relating to our financial condition, results of operations, plans, objectives, future performance and business. You can identify forward-looking statements by the fact that they do not relate strictly to historical or current facts. These statements may include words such as “anticipate,” “estimate,” “expect,” “project,” “plan,” “intend,” “believe,” “may,” “will,” “should,” “can have,” “likely” and other words and terms of similar meaning (including their negative counterparts or other various or comparable terminology). For example, all statements we make relating to our estimated and projected costs, expenditures, cash flows, growth rates and financial results, our plans and objectives for future operations, growth or initiatives, strategies or the expected outcome or impact of pending or threatened litigation are forward-looking statements. All forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from those that we expected, including: • the adverse impact of rulemaking changes implemented by the Consumer Financial Protection Bureau on our income streams, profitability and results of operations; • changes in consumer spending and general economic conditions; • the negative impact on interest expense as a result of steep interest rates; • inflationary pressures with respect to labor and raw materials and global supply chain constraints that could increase our expenses; • our ability to identify and respond to new and changing product trends, customer preferences and other related factors; • our dependence on a strong brand image; • increased competition from other brands and retailers; • our reliance on third parties to drive traffic to our website; • the success of the shopping centers in which our stores are located; • our ability to adapt to consumer shopping preferences and develop and maintain a relevant and reliable omni-channel experience for our customers; • our dependence upon independent third parties for the manufacture of all of our merchandise; • availability constraints and price volatility in the raw materials used to manufacture our products; • interruptions of the flow of our merchandise from international manufacturers causing disruptions in our supply chain; • our sourcing a significant amount of our products from China; • shortages of inventory, delayed shipments to our e-Commerce customers and harm to our reputation due to difficulties or shut-down of our distribution facility; • our reliance upon independent third-party transportation providers for substantially all of our product shipments; • our growth strategy; • our failure to attract and retain employees that reflect our brand image, embody our culture and possess the appropriate skill set; • damage to our reputation arising from our use of social media, email and text messages; • our reliance on third-parties for the provision of certain services, including real estate management; • our dependence upon key members of our executive management team; • our reliance on information systems; • system security risk issues that could disrupt our internal operations or information technology services; • unauthorized disclosure of sensitive or confidential information, whether through a breach of our computer system, third-party computer systems we rely on, or otherwise; • our failure to comply with federal and state laws and regulations and industry standards relating to privacy, data protection, advertising and consumer protection; • payment-related risks that could increase our operating costs or subject us to potential liability; • claims made against us resulting in litigation; • changes in laws and regulations applicable to our business; • regulatory actions or recalls arising from issues with product safety; • our inability to protect our trademarks or other intellectual property rights; • our substantial indebtedness and lease obligations; • restrictions imposed by our indebtedness on our current and future operations; • changes in tax laws or regulations or in our operations that may impact our effective tax rate; • the possibility that we may recognize impairments of long-lived assets; • our failure to maintain adequate internal control over financial reporting; and • the threat of war, terrorism or other catastrophes, including natural disasters, that could negatively impact our business. The outcome of the events described in any of our forward-looking statements are also subject to risks, uncertainties and other factors described in the sections entitled "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations" in our Annual Report on Form 10-K filed with the Securities and Exchange Commission ("SEC") on April 2, 2024 and in our other filings with the SEC and public communications. You should evaluate all forward-looking statements made in this earnings release in the context of these risks and uncertainties. We caution you that the important factors referenced above may not include all of the factors that are important to you. In addition, we cannot assure you that we will realize the results or developments we expect or anticipate or, even if substantially realized, that they will result in the outcomes or affect us or our operations in the way we expect. The forward-looking statements included in this earnings release are made only as of the date hereof. We undertake no obligation to publicly update or revise any forward-looking statement as a result of new information, future events or otherwise except to the extent required by law. Our forward-looking statements do not reflect the potential impact of any future acquisitions, mergers, dispositions, joint ventures or investments. Investors and others should note that we may announce material information to our investors using our investor relations website ( https://investors.torrid.com ), SEC filings, press releases, public conference calls and webcasts. We use these channels, as well as social media, to communicate with our investors and the public about our company, our business and other issues. It is possible that the information that we post on social media could be deemed to be material information. We therefore encourage investors to visit these websites from time to time. The information contained on such websites and social media posts is not incorporated by reference into this filing. Further, our references to website URLs in this filing are intended to be inactive textual references only. TORRID HOLDINGS INC. CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS (UNAUDITED) (In thousands, except per share data) Three Months Ended November 2, 2024 October 28, 2023 Net sales $ 263,766 $ 275,408 Cost of goods sold 168,609 183,906 Gross profit 95,157 91,502 Selling, general and administrative expenses 74,899 71,881 Marketing expenses 13,056 12,739 Income from operations 7,202 6,882 Interest expense 8,784 9,757 Other income, net of other expense (362 ) 267 Loss before benefit from income taxes (1,220 ) (3,142 ) Benefit from income taxes (26 ) (394 ) Net loss $ (1,194 ) $ (2,748 ) Comprehensive loss: Net loss $ (1,194 ) $ (2,748 ) Other comprehensive loss: Foreign currency translation adjustment (86 ) (271 ) Total other comprehensive loss (86 ) (271 ) Comprehensive loss $ (1,280 ) $ (3,019 ) Net loss per share: Basic $ (0.01 ) $ (0.03 ) Diluted $ (0.01 ) $ (0.03 ) Weighted average number of shares: Basic 104,698 104,081 Diluted 104,698 104,081 TORRID HOLDINGS INC. CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED)(In thousands, except share and per share data) November 2, 2024 February 3, 2024 Assets Current assets: Cash and cash equivalents $ 43,953 $ 11,735 Restricted cash 399 399 Inventory 138,261 142,199 Prepaid expenses and other current assets 33,343 22,229 Prepaid income taxes 6,617 2,561 Total current assets 222,573 179,123 Property and equipment, net 85,569 103,516 Operating lease right-of-use assets 149,732 162,444 Deposits and other noncurrent assets 18,027 14,783 Deferred tax assets 8,681 8,681 Intangible asset 8,400 8,400 Total assets $ 492,982 $ 476,947 Liabilities and stockholders' deficit Current liabilities: Accounts payable $ 77,478 $ 46,183 Accrued and other current liabilities 116,650 107,750 Operating lease liabilities 36,312 42,760 Borrowings under credit facility — 7,270 Current portion of term loan 16,144 16,144 Due to related parties 4,330 9,329 Income taxes payable 62 2,671 Total current liabilities 250,976 232,107 Noncurrent operating lease liabilities 145,126 155,825 Term loan 276,445 288,553 Deferred compensation 3,735 5,474 Other noncurrent liabilities 5,986 6,705 Total liabilities 682,268 688,664 Commitments and contingencies Stockholders' deficit Preferred shares: $0.01 par value; 5,000,000 shares authorized; zero shares issued and outstanding at November 2, 2024 and February 3, 2024 — — Common shares: $0.01 par value; 1,000,000,000 shares authorized; 104,732,148 shares issued and outstanding at November 2, 2024; 104,204,554 shares issued and outstanding at February 3, 2024 1,049 1,043 Additional paid-in capital 138,532 135,140 Accumulated deficit (328,281 ) (347,587 ) Accumulated other comprehensive loss (586 ) (313 ) Total stockholders' deficit (189,286 ) (211,717 ) Total liabilities and stockholders' deficit $ 492,982 $ 476,947 TORRID HOLDINGS INC. CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) (In thousands) Nine Months Ended N ovember 2, 2024 Nine Months Ended October 28, 2023 OPERATING ACTIVITIES Net income $ 19,306 $ 15,689 Adjustments to reconcile net income to net cash provided by operating activities: Write down of inventory 1,519 3,767 Operating right-of-use assets amortization 30,429 30,494 Depreciation and other amortization 27,842 28,242 Share-based compensation 4,531 5,981 Other (957 ) (1,351 ) Changes in operating assets and liabilities: Inventory 2,052 4,969 Prepaid expenses and other current assets (11,114 ) (4,578 ) Prepaid income taxes (4,056 ) (2,564 ) Deposits and other noncurrent assets (3,375 ) (6,433 ) Accounts payable 31,876 2,969 Accrued and other current liabilities 10,775 (5,954 ) Operating lease liabilities (33,527 ) (31,565 ) Other noncurrent liabilities (588 ) (468 ) Deferred compensation (1,739 ) 507 Due to related parties (4,999 ) (5,975 ) Income taxes payable (2,609 ) — Net cash provided by operating activities 65,366 33,730 INVESTING ACTIVITIES Purchases of property and equipment (12,617 ) (15,228 ) Net cash used in investing activities (12,617 ) (15,228 ) FINANCING ACTIVITIES Proceeds from revolving credit facility 62,780 455,110 Principal payments on revolving credit facility (70,050 ) (458,390 ) Principal payments on term loan (13,125 ) (13,125 ) Proceeds from issuances under share-based compensation plans 704 320 Withholding tax payments related to vesting of restricted stock units and awards (675 ) (249 ) Net cash used in financing activities (20,366 ) (16,334 ) Effect of foreign currency exchange rate changes on cash, cash equivalents and restricted cash (165 ) (141 ) Increase in cash, cash equivalents and restricted cash 32,218 2,027 Cash, cash equivalents and restricted cash at beginning of period 12,134 13,935 Cash, cash equivalents and restricted cash at end of period $ 44,352 $ 15,962 SUPPLEMENTAL INFORMATION Cash paid during the period for interest related to the revolving credit facility and term loan $ 27,080 $ 24,852 Cash paid during the period for income taxes $ 14,200 $ 10,976 SUPPLEMENTAL DISCLOSURE OF NON-CASH INVESTING AND FINANCING ACTIVITIES Property and equipment purchases included in accounts payable and accrued liabilities $ 1,450 $ 3,360 Non-GAAP Reconciliation The following table provides a reconciliation of Net loss to Adjusted EBITDA for the periods presented (dollars in thousands): Three Months Ended November 2, 2024 October 28, 2023 Net loss $ (1,194 ) $ (2,748 ) Interest expense 8,784 9,757 Other income, net of other expense (362 ) 267 Benefit from income taxes (26 ) (394 ) Depreciation and amortization (A) 8,523 8,785 Share-based compensation (B) 685 1,585 Non-cash deductions and charges (C) 112 409 Other expenses (D) 3,062 1,718 Adjusted EBITDA $ 19,584 $ 19,379 (A) Depreciation and amortization excludes amortization of debt issuance costs and original issue discount that are reflected in interest expense. (B) During the three months ended November 2, 2024 and October 28, 2023, share-based compensation includes $(0.3) million and $0.1 million, respectively, for awards that will be settled in cash as they are accounted for as share-based compensation in accordance with ASC 718, Compensation—Stock Compensation , similar to awards settled in shares. (C) Non-cash deductions and charges includes non-cash losses on property and equipment disposals and the net impact of non-cash rent expense. (D) Other expenses include certain transaction and litigation fees (including certain settlement costs) and severance costs for certain key management positions. View source version on businesswire.com : https://www.businesswire.com/news/home/20241203834068/en/ CONTACT: Investors Lyn Walther IR@torrid.com Media Joele Frank, Wilkinson Brimmer Katcher Michael Freitag / Arielle Rothstein / Lyle Weston Media@torrid.com KEYWORD: UNITED STATES NORTH AMERICA CALIFORNIA INDUSTRY KEYWORD: RETAIL ONLINE RETAIL DEPARTMENT STORES FASHION SOURCE: Torrid Holdings Inc. Copyright Business Wire 2024. PUB: 12/03/2024 04:05 PM/DISC: 12/03/2024 04:06 PM http://www.businesswire.com/news/home/20241203834068/enGophers football players are preparing to play Wisconsin for Paul Bunyan’s Axe on Friday, but three key pieces peered beyond the blinders to shore up their commitment to Minnesota on Monday. Quarterback Max Brosmer and offensive lineman Quinn Carroll — two sixth-year seniors — said they will play in the Gophers’ to-be-determined bowl game, bucking a growing trend of players skipping postseason games to prepare for shots in the NFL. ADVERTISEMENT Brosmer, a transfer from FCS-level New Hampshire, said he will “definitely” suit up. “It’s another opportunity for us to play as a team,” said Brosmer, who threw for 2,426 yards, 15 touchdowns and five interceptions in 11 games this season. “It’s a compilation of what you have worked on all season.” Carroll said he respects higher-level prospects who might opt out and protect their draft stock, but he wants to get back to a “standard” of players not skipping the games. “My goal ever since I came here was to be the leader, be the standard all the time, and I don’t want it to become a standard that we don’t play in the bowl game if we have NFL aspirations,” said Carroll, who has played three seasons at Minnesota after three years at Notre Dame. “Obviously it’s different for guys who are maybe touted a little bit higher or think it will be better off for them to start working on the next step, whether that is combine training or what have you. But that is one opportunity that I’m blessed with to play with the guys and I’m going to take full advantage of it.” Left tackle Aireontae Ersery is a prime candidate of a Gophers player who might want to safeguard a higher draft stock and limit injury exposure by sitting out the bowl game. The possible first- or second-round pick has not said what he might do. For example, former U center, John Michael Schmitz opted out of the Pinstripe Bowl in 2022; he was drafted in the second round by the New York Giants. Meanwhile, Gophers fifth-year defensive lineman Jalen Logan-Redding said he will return to Minnesota for 2025, instead of trying his luck in the NFL. “Coming back next year is definitely going to be the best for me and being able to maximize all my opportunities and exhaust eligibility,” Logan-Redding said. Logan-Redding said he talked with fellow D-lineman Deven Eastern, who has one more year remaining, about pairing up in 2025. ADVERTISEMENT “We talk a lot about it,” Logan-Redding said. “... We are excited for it, honestly. Not only continuing to build the D-line, but just continuing to build on the experience that we already have. We’ve seen the amount of destruction that we can create when we are focused. Me, Dev and, of course, (Anthony Smith). He would be pissed if I didn’t shout him out.” Smith, who has two more years of eligibility, has been one of the U’s best players in the last month. He has 23 total pressures and five sacks, including one sack in each of the last three weeks. ______________________________________________________ This story was written by one of our partner news agencies. Forum Communications Company uses content from agencies such as Reuters, Kaiser Health News, Tribune News Service and others to provide a wider range of news to our readers. Learn more about the news services FCC uses here .
TAMPA, Fla. (AP) — This isn’t a week when coach Todd Bowles feels he needs to find the right words to ensure his Tampa Bay Buccaneers are motivated to face the last-place Carolina Panthers. The Bucs (8-7) have won eight of the last nine meetings between the NFC South rivals, including the past three with Baker Mayfield at quarterback. It hasn’t exactly been smoothly sailing against the Panthers (4-11), though, for the three-time defending division champions. And, with at least a share of first place on the line Sunday, Bowles and his players say they are focused solely on rebounding from last week’s disappointing loss to the Dallas Cowboys. “We know it’s going to be a tough ballgame. It went overtime last time. They’re coached very well; they play very hard,” Bowles said, referencing Tampa Bay’s 26-23 win at Carolina on Dec. 1. “We know what’s at stake for us. It doesn’t need to be talked about. Everybody understands that,” Bowles added. “We’ve got to clean up our own mistakes, and we’ve got to play an error-free football game.” The Bucs are tied with Atlanta for the best record in the NFC South, however the Falcons (8-7) hold the tiebreaker after sweeping the season series between the teams. To claim a fourth straight division title, Tampa Bay needs to win remaining home games against the Panthers and New Orleans Saints while Atlanta loses at least once in the last two weeks of the regular season. If the Falcons hold on to win the South, the Bucs can earn a wild-card playoff berth if they win out and the Washington Commanders lose twice. Mayfield, who has resurrected his career since being released by Carolina two years ago, summed up the attitude in a resilient locker room. The Bucs have won four of five games following a four-game losing streak threatened their playoff hopes. “I keep saying it, this team has the mental makeup of a great team. We just have to continue to fight and find ways to win,” the quarterback said. “If we don’t take of business, we won’t be in the playoffs.” Panthers running back Chuba Hubbard cost his team the game four weeks ago against Tampa Bay when he fumbled on the second possession of overtime just after Carolina had reached field goal range. Mayfield responded by leading the Bucs back down the field for the winning field goal. The loss was devastating for Hubbard at the time, but he promised himself when the opportunity arose again he’d make the most of it. He did that this past Sunday, when he carried twice for 49 yards, including a 21-yard touchdown run in which he broke two tackles, in overtime to lift the Panthers to a 36-30 win over Arizona, knocking the Cardinals out of the playoff hunt. “I’d let it go, but it’s definitely been in the back of my head a little bit,” Hubbard said. “Like I said, when the next opportunity came, I told myself I’m going to get it back for them. To be able to have them trust me in that opportunity again, and to have it in that way is a blessing from God.” Bryce Young has shown solid progress in his decision making, particularly when the pocket begins to break down. Last week, the second-year QB ran for a career-best 68 yards, including a 24-yard touchdown. Young was benched after two games this season, but since returning to the lineup has played better, restoring some faith that perhaps the No. 1 overall pick in 2023 can be the team’s quarterback of the future. “Just time in the system and time as a team for us to come together,” Young said of why he has improved. “For me, being able to get reps, and get time with everyone. It’s just all of us being able to feed off of each other, and it’s been able to allow us to turn in the right direction.” The Panthers have been abysmal against the run, allowing nearly 200 yards per game on the ground over the last seven games. In the last meeting with Tampa Bay, Bucky Irving ran for a career-high 152 yards and a touchdown, so Carolina’s defense has a good idea of what's coming Sunday. Mayfield has beaten Carolina three times since joining the Bucs in 2023. All of the meetings have been close, though, with the Panthers losing twice by three points and Tampa Bay settling for three field goals in a 9-0 regular season-ending victory that clinched its third straight NFC South championship last January. “We know them well. They know us well,” Mayfield said. AP Sports Writer Steve Reed in Charlotte, North Carolina, contributed to this report. NFL: https://apnews.com/hub/nfl
Salesforce Inc earnings missed by $0.03, revenue topped estimatesThe most wonderful time of the year is here. We're not talking about the holiday season — we're talking about the World Juniors. Hockey fans, the wait is finally over. The presents have been unwrapped, the stockings have been taken down from the fireplace and the Christmas dinner has turned into leftovers. Now the focus turns to the annual international competition featuring the future stars of the NHL. Ottawa, Canada is the site for this year's competition, featuring 10 of the top U20 teams from around the world who are gunning for a gold medal. The United States enters the tournament as the defending gold medallists from 2024, going undefeated at last year's World Juniors and knocking off Sweden in the gold medal game. Competing at the tournament is mostly a mix of prospects from the 2023 and 2024 NHL Draft classes, highlighted by first-round picks Ryan Leonard (USA), Gabe Perreault (USA), Zeev Buium (USA), Sam Dickinson (Canada), Brayden Yager (Canada), Axel Sandin-Pellikka (Sweden) and Konsta Helenius (Finland). However, there are also 2025 and 2026 draft-eligible players highlighting rosters at this year's competition. That includes James Hagens (USA), Matthew Schaefer (Canada), Porter Martone (Canada) and Viktor Eklund (Sweden), who are all potential top-10 candidates for the 2025 draft. Gavin McKenna (Canada), the leading candidate to go first overall in 2026, will be at the tournament as well. The Sporting News has fans covered on the latest results and standings from the 2025 World Juniors. SN's NHL HQ: Live NHL scores | Updated NHL standings | Full NHL schedule World Juniors standings 2025 Group A Team Games Wins OT Wins OT Losses Losses Points USA 1 1 0 0 0 3 Finland 0 0 0 0 0 0 Canada 0 0 0 0 0 0 Latvia 0 0 0 0 0 0 Germany 1 0 0 0 1 0 Group B Team Games Wins OT Wins OT Losses Losses Points Sweden 1 1 0 0 0 3 Czechia 0 0 0 0 0 0 Kazakhstan 0 0 0 0 0 0 Switzerland 0 0 0 0 0 0 Slovakia 1 0 0 0 1 0 * = advances to knockout stage ** = plays in relegation game Teams will play four preliminary games in a round-robin format within their group, followed by a three-round playoff. In the group stage, teams earn three points for a regulation win, two points for an overtime win, one point for an overtime loss and no points for a regulation loss. The top four teams from each group advance to the quarterfinals, where the matchups are determined by seeding. They will cross over between groups for these games: 1A vs. 4B, 1B vs. 4A, 2A vs. 3B and 2B vs. 3A. The teams that advance to the semifinals will be reseeded. The winners of the semifinals will face off in the gold medal game. The losers will play for bronze. 2025 World Juniors schedule, results Thursday, Dec. 26 Matchup Time (ET) Sweden 5, Slovakia 1 FINAL USA 10 , Germany 4 FINAL Czechia vs. Switzerland 5 p.m. Finland vs. Canada 7:30 p.m. Friday, Dec. 27 Matchup Time (ET) Switzerland vs. Slovakia 1 p.m. Germany vs. Finland 3:30 p.m. Sweden vs. Kazakhstan 5 p.m. Latvia vs. Canada 7:30 p.m. Saturday, Dec. 28 Matchup Time (ET) Kazakhstan vs. Czechia 1 p.m. Latvia vs. USA 3:30 p.m. Sunday, Dec. 29 Matchup Time (ET) Switzerland vs. Sweden Noon USA vs. Finland 2:30 p.m. Czechia vs. Slovakia 5 p.m. Canada vs. Germany 7:30 p.m. Monday, Dec. 30 Matchup Time (ET) Slovakia vs. Kazakhstan 1 p.m. Germany vs. Latvia 3:30 p.m. Tuesday, Dec. 31 Matchup Time (ET) Kazakhstan vs. Switzerland Noon Finland vs. Latvia 2:30 p.m. Sweden vs. Czechia 5 p.m. Canada vs. USA 8 p.m. Thursday, Jan. 2 Matchup Time (ET) TBD vs. TBD - Relegation Game 11 a.m. TBD vs. TBD - Quarterfinal Noon TBD vs. TBD - Quarterfinal 2:30 p.m. TBD vs. TBD - Quarterfinal 5 p.m. TBD vs. TBD - Quarterfinal 7:30 p.m. Saturday, Jan. 4 Matchup Time (ET) TBD vs. TBD - Semifinal 3:30 p.m. TBD vs. TBD - Semifinal 7:30 p.m. Sunday, Jan. 5 Matchup Time (ET) TBD vs. TBD - Bronze Medal Game 3:30 p.m. TBD vs. TBD - Gold Medal Game 7:30 p.m.Villa held to 0-0 draw by depleted Juventus
Jimmy Carter, a peanut farmer and little-known Georgia governor who became the 39th president of the United States, promising “honest and decent” government to Watergate-weary Americans, and later returned to the world stage as an influential human rights advocate and Nobel Peace Prize winner, has died. He was 100. When his turbulent presidency ended after a stinging reelection loss in 1980, Carter retreated to Plains, his political career over. Over the four decades that followed, though, he forged a legacy of public service, building homes for the needy, monitoring elections around the globe and emerging as a fearless and sometimes controversial critic of governments that mistreated their citizens. He lived longer than any U.S. president in history and was still regularly teaching Bible classes at his hometown Maranatha Baptist Church well into his 90s. During his post-presidency, he also wrote more than 30 books, including fiction, poetry, deeply personal reflections on his faith, and commentaries on Middle East strife. Though slowed by battles with brain and liver cancer and a series of falls and hip replacement in recent years, he returned again and again to his charity work and continued to offer occasional political commentary, including in support of mail-in voting ahead of the 2020 presidential election. Carter was in his first term as Georgia governor when he launched his campaign to unseat President Ford in the 1976 election. At the time, the nation was still shaken by President Nixon’s resignation in the Watergate scandal and by the messy end of the Vietnam War. As a moderate Southern Democrat, a standard-bearer of what was then regarded as a more racially tolerant “new South,” Carter promised a government “as good and honest and decent and competent and compassionate and as filled with love as are the American people.” But some of the traits that had helped get Carter elected — his willingness to take on the Washington establishment and his preference for practicality over ideology — didn’t serve him as well in the White House. He showed a deep understanding of policy, and a refreshing modesty and disregard for the ceremonial trappings of the office, but he was unable to make the legislative deals expected of a president. Even though his Democratic Party had a majority in Congress throughout his presidency, he was impatient with the legislative give-and-take and struggled to mobilize party leaders behind his policy initiatives. His presidency also was buffeted by domestic crises — rampant inflation and high unemployment, as well as interminable lines at gas stations triggered by a decline in the global oil supply exacerbated by Iran’s Islamic Revolution. “Looking back, I am struck by how many unpopular objectives we pursued,” Carter acknowledged in his 2010 book, “White House Diary.” “I was sometimes accused of ‘micromanaging’ the affairs of government and being excessively autocratic,” he continued, “and I must admit that my critics probably had a valid point.” Carter’s signature achievements as president were primarily on the international front, and included personally brokering the Camp David peace accords between Egypt and Israel, which have endured for more than 40 years. But it was another international crisis — the storming of the U.S. Embassy in Tehran by Iranian revolutionaries and the government’s inability to win the release of 52 Americans taken hostage — that would cast a long shadow on his presidency and his bid for reelection. Carter authorized a secret military mission to rescue the hostages in April 1980, but it was aborted at the desert staging area; during the withdrawal, eight servicemen were killed when a helicopter crashed into a transport aircraft. The hostages were held for 444 days, a period that spanned Carter’s final 15 months in the White House. They were finally freed the day his successor, Ronald Reagan, took the oath of office. Near the end of Carter’s presidency, one poll put his job approval rating at 21% — lower than Nixon’s when he resigned in disgrace and among the lowest of any White House occupant since World War II. In a rarity for an incumbent president, Carter faced a formidable primary challenge in 1980 from Sen. Edward M. Kennedy, a favorite of the Democratic Party’s liberal wing. Although Carter prevailed, his nomination was in doubt until the party’s August convention. The enmity between Carter and Kennedy, two of the most important Democratic political figures of their generation, continued throughout their lives. In Kennedy’s memoir, published shortly after his death in 2009, he called Carter petty and guilty of “a failure to listen.” While promoting the publication of “White House Diary,” Carter said Kennedy had “deliberately” blocked Carter’s comprehensive healthcare proposals in the late 1970s in hopes of defeating the president in the primary. In the 1980 general election, Carter faced Reagan, then 69, who campaigned on a promise to increase military spending and rescue the economy by cutting taxes and decreasing regulation. Carter lost in a 51% to 41% thumping — he won just six states and the District of Columbia — that devastated the man known for his toothy smile and sent him back to his hometown, an ex-president at 56. A year later, he and Rosalynn founded the Carter Center, which pressed for peaceful solutions to world conflicts, promoted human rights and worked to eradicate disease in the poorest nations. The center, based in Atlanta, launched a new phase of Carter’s public life, one that would move the same historians who called Carter a weak president to label him one of America’s greatest former leaders. His post-presidential years were both “historic and polarizing,” as Princeton University historian Julian E. Zelizer put it in a 2010 biography of Carter. Zelizer said Carter “refused to be constrained politically when pursuing his international agenda” as an ex-president, and became “an enormously powerful figure on the international stage.” When Carter appeared on “The Colbert Report” in 2014, host Stephen Colbert asked him, “You invented the idea of the post-presidency. What inspired you to do that?” “I didn’t have anything else to do,” Carter replied. He traveled widely to mediate conflicts and monitor elections around the world, joined Habitat for Humanity to promote “sweat equity” for low-income homeownership, and became a blunt critic of human rights abuses. He angered conservatives and some liberals by advocating negotiations with autocrats — and his criticism of Israeli leaders and support for Palestinian self-determination angered many Jews. A prolific author, Carter covered a range of topics, including the Middle East crisis and the virtues of aging and religion. He penned a memoir on growing up in the rural South as well as a book of poems, and he was the first president to write a novel — “The Hornet’s Nest,” about the South during the Revolutionary War. He won three Grammy Awards as well for best spoken-word album, most recently in 2019 for “Faith: A Journey For All.” As with many former presidents, Carter’s popularity rose in the years after he left office. He was awarded the Nobel Peace Prize in 2002 for “decades of untiring effort to find peaceful solutions to international conflicts” and to advance democracy and human rights. By then, two-thirds of Americans said they approved of his presidency. “Jimmy Carter may never be rated a great president,” wrote Charles O. Jones, a University of Wisconsin political scientist, in his chronicle of the Carter presidency. “Yet it will be difficult in the long run to sustain censure of a president motivated to do what is right.” The journey for James Earl Carter Jr. began on Oct. 1, 1924, in the tiny Sumter County, Ga., town of Plains, home to fewer than 600 people in 2020. He was the first president born in a hospital, but he lived in a house without electricity or indoor plumbing until he was a teenager. His ancestors had been in Georgia for more than two centuries, and he was the fifth generation to own and farm the same land. His father, James Earl Carter Sr., known as Mr. Earl, was a strict disciplinarian and a conservative businessman of some means. His mother, known as Miss Lillian, had more liberal views — she was known for her charity work and for taking in transients and treating Black residents with kindness. (At the age of 70, she joined the Peace Corps, working in India.) Inspired by an uncle who was in the Navy, Carter decided as a first-grader that he wanted to go to the Naval Academy in Annapolis, Md. He became the first member of his family to finish high school, then attended Georgia Tech before heading for the academy, where he studied engineering and graduated in 1946, 59th in a class of 820. Before his last year in Annapolis, while home for the summer, he met Eleanor Rosalynn Smith, a friend of his sister Ruth’s. He and a friend invited the two young women to the movies, and when he returned home that night, he told his mother he had met “the girl I want to marry.” He proposed that Christmas, but Rosalynn declined because she felt she was too young (she was 18 and a sophomore in college). Several weeks later, while she was visiting Carter at the academy, he asked again. This time she said yes. Carter applied to America’s new nuclear-powered submarine program under the command of the icy and demanding Capt. (later Adm.) Hyman Rickover. During Carter’s interview, Rickover asked whether he had done his best at Annapolis. “I started to say, ‘Yes, sir,’ but ... I recalled several of the many times at the Academy when I could have learned more about our allies, our enemies, weapons, strategy and so forth,” Carter wrote in his autobiography. “... I finally gulped and said, ‘No, sir, I didn’t always do my best.’” To which Rickover replied: “Why not?” Carter got the job, and would later make “Why not the best?” his campaign slogan. The Carters had three sons, who all go by nicknames — John William “Jack,” James Earl “Chip” and Donnel Jeffrey “Jeff.” Carter and Rosalynn had wanted to have more children, but an obstetrician said that surgery Rosalynn had to remove a tumor on her uterus would make that impossible. Fifteen years after Jeffrey was born, the Carters had a daughter, Amy, who “made us young again,” Carter would later write. While in the Navy, Carter took graduate courses in nuclear physics and served as a submariner on the USS Pomfret. But his military career was cut short when his father died, and he moved back to Georgia in 1953 to help run the family business, which was in disarray. In his first year back on the farm, Carter turned a profit of less than $200, the equivalent of about $2,200 today. But with Rosalynn’s help, he expanded the business. In addition to farming 3,100 acres, the family soon operated a seed and fertilizer business, warehouses, a peanut-shelling plant and a cotton gin. By the time he began his campaign for the White House 20 years later, Carter had a net worth of about $800,000, and the revenue from his enterprises was more than $2 million a year. Carter entered electoral politics in 1962, and asked voters to call him “Jimmy.” He ran for a seat in the Georgia Senate against an incumbent backed by a local political boss who stuffed the ballot box. Trailing by 139 votes after the primary, Carter waged a furious legal battle, which he described years later in his book “Turning Point.” Carter got a recount, the primary result was reversed, and he went on to win the general election. The victory was a defining moment for Carter, the outsider committed to fairness and honesty who had successfully battled establishment politicians corrupted by their ties to special interests. In two terms in the Georgia Senate, Carter established a legislative record that was socially progressive and fiscally conservative. He first ran for governor in 1966, but finished third in the primary. Over the next four years, he made 1,800 speeches and shook hands with an estimated 600,000 people — a style of campaigning that paid off in the 1970 gubernatorial election and later in his bid for the White House. In his inaugural address as governor in 1971, Carter made national news by declaring that “the time for racial discrimination is over.” He had a portrait of the Rev. Martin Luther King Jr. hung in a hall at the Capitol in Atlanta. But when Carter launched his official campaign for the White House in December 1974, he was still so little-known outside Georgia that a celebrity panel on the TV show “What’s My Line?” couldn’t identify him. In the beginning, many scoffed at the temerity of a peanut farmer and one-term governor running for the highest office in the land. After Carter met with House Speaker Thomas P. “Tip” O’Neill Jr., the speaker was asked whom he had been talking to. “Some fellow named Jimmy Carter from Georgia. Says he’s running for president,” O’Neill replied. In a meeting with editors of the Los Angeles Times in 1975, Carter said he planned to gain the presidency by building a network of supporters and by giving his candidacy an early boost by winning the Iowa caucuses. Until then, Iowa had been a bit player in the nominating process, mostly ignored by strategists. But Carter’s victory there vaulted him to front-runner status — and Iowa into a major role in presidential nominations. His emergence from the pack of Democratic hopefuls was helped by the release of his well-reviewed autobiography “Why Not the Best?” in which he described his upbringing on the farm and his traditional moral values. On the campaign trail, Carter came across as refreshingly candid and even innocent — an antidote to the atmosphere of scandal that had eroded confidence in public officials since the events leading to Nixon’s resignation on Aug. 9, 1974. A Baptist Sunday school teacher, Carter was among the first presidential candidates to embrace the label of born-again Christian. That was underscored when, in an interview with Playboy magazine, he made headlines by admitting, “I’ve looked on many women with lust. I’ve committed adultery in my heart many times. God knows I will do this and forgives me.” Carter had emerged from the Democratic National Convention in July with a wide lead over Ford, Nixon’s vice president and successor, but by the time of the Playboy interview in September, his numbers were tumbling. By election day, the contest was a dead heat. Carter, running on a ticket with Walter F. Mondale for his vice president, eked out a victory with one of the narrower margins in U.S. presidential history, winning 50.1% to 48% of the popular vote and 297 electoral votes, 27 more than needed. Many of Carter’s supporters hoped he would usher in a new era of liberal policies. But he saw his role as more of a problem-solver than a politician, and as an outsider who promised to shake things up in Washington, he often acted unilaterally. A few weeks into his term, Carter announced that he was cutting off federal funding to 18 water projects around the country to save money and protect the environment. Lawmakers, surprised by the assault on their pet projects, were livid. He ultimately backed down on some of the cuts. But his relationship with Congress never fully healed. Members often complained that they couldn’t get in to see him, and that when they did he was in a rush to show them the door. His relationship with the media, as he acknowledged later in life, was similarly fraught. Carter’s image as a reformer also took a hit early in his presidency after he appointed Bert Lance, a longtime confidant, to head the Office of Management and Budget. Within months of the appointment, questions were raised about Lance’s personal financial affairs as a Georgia banker. Adamant that Lance had done nothing wrong, Carter dug in his heels and publicly told his friend, “Bert, I’m proud of you.” Still, Lance resigned under pressure, and although he was later acquitted of criminal charges, the damage to Carter had been done. As Mondale later put it: “It made people realize that we were no different than anybody else.” When Carter did score legislative victories, the cost was high. In 1978, he pushed the Senate to ratify the Panama Canal treaties to eventually hand control of the canal over to Panama. But conservatives criticized the move as a diminution of U.S. strength, and even the Democratic National Committee declined to endorse it. Carter’s most significant foreign policy accomplishment was the 1978 Camp David agreement, a peace pact between Israel and Egypt. But he followed that with several unpopular moves, including his decree that the United States would not participate in the 1980 Summer Olympics in Moscow, as a protest against the Soviet Union’s invasion of Afghanistan. It was the only time in Olympic history that the United States had boycotted an Olympics; the Soviets responded by boycotting the 1984 Summer Games in Los Angeles. Carter had taken a series of largely symbolic steps to dispel the imperial image of the presidency. After he took the oath of office on a wintry day, he and the new first lady emerged from their motorcade and walked part of the way from the Capitol to the White House. He ended chauffeur-driven cars for top staff members, sold the presidential yacht, went to the White House mess hall for lunch with the staff and conducted town meetings around the country. He suspended the playing of “Hail to the Chief” whenever he arrived at an event, though he later allowed the practice to resume. On the domestic front, he was saddled with a country in crisis. Inflation galloped at rates up to 14%, and global gasoline shortages closed service stations and created high prices and long lines. Interest rates for home mortgages soared above 14%. In his first televised fireside chat, he wore a cardigan sweater and encouraged Americans to conserve energy during the winter by keeping their thermostats at 65 degrees in the daytime and 55 degrees at night. He also proposed a string of legislative initiatives to deal with the crisis, but many were blocked by Congress. In what would become a seminal moment in his presidency, Carter addressed the nation — and a television audience of more than 60 million — on a Sunday evening in 1979, saying the country had been seized by a “crisis of confidence ... that strikes at the very heart and soul and spirit of our national will.” He outlined a series of proposals to develop new sources of energy. The address, widely known as the “malaise speech” even though Carter never used that word, was generally well-received at the time, though some bristled at the implication that Americans were to blame for the country’s problems. Any positive glow disappeared two days later, when Carter fired five of his top officials, including the Energy, Treasury and Transportation secretaries and his attorney general. The value of the dollar sank and the stock market tumbled. Sensing that Carter was politically vulnerable, Kennedy moved to present himself as an alternative for the 1980 Democratic nomination, publicly criticizing the president’s agenda. But Kennedy damaged his own candidacy in a prime-time interview with CBS’ Roger Mudd: Asked why he was running for president, Kennedy fumbled his answer, and critics cited it as evidence that the senator didn’t want the job so much as he felt obligated to seek it. A few months after the malaise speech, in late 1979, revolutionaries loyal to Iran’s spiritual leader, the Ayatollah Ruhollah Khomeini, seized the U.S. Embassy in Tehran, taking 52 Americans hostage. Weeks stretched into months, with Iran refusing all efforts to negotiate a hostage release. In April 1980, Carter approved Operation Eagle Claw, a secret Delta Force rescue mission. But it ended in disaster — mechanical trouble sidelined three helicopters and, after the mission was aborted, one of the remaining helicopters collided with a transport plane on the ground, killing eight soldiers. Secretary of State Cyrus R. Vance resigned before the mission, believing the plan too risky. Negotiations to free the hostages resumed, and Carter desperately tried to win their release before the November election. But the Iranians prolonged the talks and the hostages weren’t released until Jan. 20, 1981, moments after Carter watched Reagan being sworn in. The journey home for Carter was painful. Of those who voted for Reagan in 1980, nearly 1 in 4 said they were primarily motivated by their dissatisfaction with Carter. Carter faced “an altogether new, unwanted and potentially empty life,” as he later put it. He sold the family farm-supply business, which had been placed in a blind trust during his presidency and was by then deeply in debt. Then, as Rosalynn later recalled, Carter awoke one night with an idea to build not just a presidential library but a place to resolve global conflicts. Together, they founded the nonprofit, nonpartisan Carter Center. His skill as a mediator made Carter a ready choice for future presidents seeking envoys to navigate crises. Republican President George H.W. Bush sent him on peace missions to Ethiopia and Sudan, and President Clinton, a fellow Democrat, dispatched him to North Korea, Haiti and what then was Yugoslavia. Carter described his relationship with President Obama as chilly, however, in part because he had openly criticized the administration’s policies toward Israel. He felt Obama did not strongly enough support a separate Palestinian state. “Every president has been a very powerful factor here in advocating this two-state solution,” Carter told the New York Times in 2012. “That is now not apparent.” As an election observer, he called them as he saw them. After monitoring presidential voting in Panama in 1989, he declared that Manuel Noriega had rigged the election. He also began building houses worldwide for Habitat for Humanity, and he wrote prodigiously. The Nobel committee awarded Carter the Peace Prize in 2002, more than two decades after he left the White House, praising him for standing by “the principles that conflicts must as far as possible be resolved through mediation and international cooperation.” During his 70s, 80s and even into his 90s, the former president showed an energy that never failed to impress those around him. In his 1998 book “The Virtues of Aging,” he urged retirees to remain active and engaged, and he followed his own advice, continuing to jog, play tennis and go fly-fishing well into his 80s. When his “White House Diary” was published in 2010, he embarked on a nationwide book tour at 85, as he did in 2015 with the publication of “A Full Life: Reflections at 90.” When he told America he had cancer that had spread to his liver and brain, it was vintage Carter. Wearing a coat and tie and a pair of blue jeans, he stared into the television cameras and was unflinchingly blunt about his prognosis. “Hope for the best; accept what comes,” he said. “I think I have been as blessed as any human being in the world.” Former Times staff writers Jack Nelson, Robert Shogan and Johanna Neuman contributed to this report.
PTI Mumbai Caretaker Chief Minister Eknath Shinde on Wednesday announced the Shiv Sena would support the decisions of Prime Minister Narendra Modi and Union Home Minister Amit Shah to name the next Maharashtra CM, paving the way for the BJP to head the new government. With Shinde declaring the Shiv Sena would not be a “hurdle” in the formation of new government, two-time BJP chief minister Devendra Fadnavis, one of the architects of the ruling Mahayuti’s grand win in the just-held state assembly polls, is emerging as a front-runner for the top post. The caretaker CM’s declaration at a press conference in his political turf Thane marks a significant step toward a smooth transition of power after the BJP-led ruling alliance achieved a stunning victory in the November 20 polls. As discussions about the new government intensify, political observers are closely watching the developments that may soon lead to Fadnavis being appointed as the new chief minister with two deputy CMs. Shinde (60), alongside his outgoing deputies Fadnavis and Ajit Pawar of the Nationalist Congress Party (NCP), is expected to meet with Shah in New Delhi on Thursday to further discuss modalities of the government formation. Maharashtra NDA leaders are also likely to meet the top BJP brass here on Thursday, BJP sources said, indicating the formula of one chief minister and two deputy CMs representing the all three major ‘Mahayuti’ constituents (BJP, Shiv Sena, NCP) will be followed in the new government. Shinde, who heads the Shiv Sena, may swap his position with Fadnavis, while Pawar will continue as one of the two deputy CMs, the sources said. However, the details of the new government are likely to be given a concrete shape in the meeting of the state’s ruling alliance leaders with the BJP’s national leadership. Talking to reporters at his Thane residence, five days after the resounding victory of the Mahayuti alliance, Shinde said, “I spoke to the Prime Minister and the Home Minister and assured them that there will be no hindrance from our side.” “Our Shiv Sena will fully support the BJP’s decision to name the next Maharashtra CM. There is no speed breaker from our side,” Shinde said, showing no trace on his face of having to swallow the bitter pill. Ajit Pawar told reporters the new CM is likely to be sworn in either on November 30 or December 1. There will be two deputy chief ministers in the incoming government, added the NCP leader. Shinde rubbished reports he was disappointed for not getting a second term as CM despite the ruling alliance winning a thumping victory under his leadership. “Nobody is annoyed. We have worked as Mahayuti,” the Shiv Sena leader, who assumed the top office in June 2022, asserted. Asked if he was dismayed that he was not getting a second term, Shinde said, “There is no such thing. You must remember that BJP supported my tenure as CM.” “There is a meeting in Delhi tomorrow with Amit Bhai (Shah) and all related decisions will be taken there,” Shinde said. “I thank the people and voters of Maharashtra for this landslide victory in the assembly elections. I am a worker forever; for me, CM is not Chief Minister but common man,” he noted. Shinde thanked PM Modi and Home Minister Shah for supporting him during his two-and-a-half year tenure as chief minister. “I am not disappointed. We fight and don’t cry,” Shinde said, referring to media reports that he was unhappy over being asked to step down despite leading the Mahayuti to poll victory. Maharashtra BJP chief Chandrashekhar Bawankule thanked Shinde for stating that he will abide by the decision of the top BJP leadership on the next chief minister.
Amazon's Douglas Herrington sells $1.22 million in stockRuud van Nistelrooy enjoyed a dream start to his reign as Leicester manager after a 3-1 win over West Ham, whose boss Julen Lopetugui is under increasing pressure. Van Nistelrooy has replaced Steve Cooper at the King Power Stadium and saw Jamie Vardy open the scoring after just 98 seconds. Bilal El Khannouss and Patson Daka added goals after the break to ensure the Dutchman started with three points in style. Starting with a win! 🤩 Delivered by @bcgame #LEIWHU pic.twitter.com/X90nFSbMLm — Leicester City (@LCFC) December 3, 2024 His task is to keep the Foxes in the Premier League this season and after ending a five-game winless run they moved up to 15th, four points clear of the relegation zone. West Ham’s hierarchy will have seen what impact a managerial change can have as the jury remains out on Lopetegui, with away fans making their feelings clear by chanting “You’re getting sacked in the morning”. Niclas Fullkrug scored a consolation goal at the death but it counted for nothing and forthcoming games against Wolves, Bournemouth, Brighton and Southampton could determine the Spaniard’s future. When Van Nistelrooy went to bed last night, even he would not have dreamt of his side starting as well as they did as they went ahead with less than two minutes on the clock. One of the Dutchman’s first conversations following his appointment was to take Vardy to task for breaking his record for scoring in the most consecutive Premier League games nine years ago. And the veteran striker rolled back to the years as, living on the shoulder of the West Ham defence, he raced clear from El Khannouss’ through-ball and slotted into the corner. The linesman’s flag immediately went up but a lengthy VAR review ruled Vardy had timed his run perfectly and the goal stood. Vardy could have added a second from a similar move but this time Lukasz Fabianski denied him. The Dutchman quickly learned about the frailties of his side as West Ham created a raft of chances in search of an equaliser. Jarrod Bowen forced Mads Hermansen into a stretching save when he cut in from the right before Ings’ header crashed into the post and Max Kilman slipped at the crucial point from the rebound. Bowen, a constant threat, sent a ball across face of goal which evaded everyone before the England international was denied by a reflex save from the busy Hermansen. The Danish goalkeeper needed to be alert to tip over Mohammed Kudus’ deflected effort early in the second half before he was saved by the referee’s whistle after after his attempted punch went into his own goal, Tomas Soucek the man penalised. Leicester remained a threat on the counter-attack and that is how they doubled their lead just after the hour. Kasey McAteer was set clear down the left and his ball inside was perfect for El Khannouss to find the bottom corner from 15 yards. It was almost three as Fabianski produced an acrobatic save from Wilfred Ndidi’s header before Leicester needed a heroic piece of defending to keep their 2-0 lead intact. Crysencio Summerville bundled the ball goalwards and it was heading over the line until Conor Coady adjusted his feet and poked it clear. The Foxes, who also had a goal from substitute Bobby De Cordova-Reid chalked off by VAR, wrapped things up in the 90th minute when Daka broke clear and emphatically converted into the roof of the net. West Ham did get on the scoresheet when Fullkrug headed a corner home, but the game was already done.
Brazil's top court takes on regulation of social media
Grandson of former commandant of Auschwitz on rise of antisemitismAmazon's Douglas Herrington sells $1.22 million in stockCITY OF INDUSTRY, Calif.--(BUSINESS WIRE)--Dec 3, 2024-- Torrid Holdings Inc. (“Torrid” or the “Company”) (NYSE: CURV), a direct-to-consumer apparel, intimates, and accessories brand in North America for women sizes 10 to 30, today announced its financial results for the quarter ended November 2, 2024. Lisa Harper, Chief Executive Officer of Torrid, stated, “Our third quarter results were below our expectations as our fall assortments did not offer enough newness and novelty. We also saw the environment change meaningfully from the end of September and into October. Despite the weaker top line sales, we delivered a positive full-price comp, 285 basis points of gross profit expansion, and modest Adjusted EBITDA (1) growth. We ended the quarter with clean inventory levels, down 19% to last year, and $44 million in cash.” Ms. Harper continued, “While we are encouraged by our customers’ response to the newness in our assortments, given the volatility we have seen in our business, and recognizing that there is still considerable amount of the quarter ahead of us, we are taking a prudent approach to our fourth quarter outlook. As we move into fiscal 2025, we are confident that we have put in place the necessary changes and strategies to position us for growth.” Financial Highlights for the Third Quarter of Fiscal 2024 Third Quarter of Fiscal 2024 Financial and Operating Metrics November 2, 2024 October 28, 2023 Number of stores (as of end of period) 655 643 Three Months Ended (in thousands, except percentages) November 2, 2024 October 28, 2023 Comparable sales (A) (7 )% (8 )% Net loss $ (1,194 ) $ (2,748 ) Adjusted EBITDA (B) $ 19,584 $ 19,379 (A) Comparable sales (2) for the three-month period ended November 2, 2024 compares sales for the 13-week period ended November 2, 2024, with sales for the 13-week period ended November 4, 2023. (B) Please refer to “Non-GAAP Reconciliation” below for a reconciliation of net loss to Adjusted EBITDA (1). Balance Sheet and Cash Flow Cash and cash equivalents at the end of the third quarter of 2024 totaled $44.0 million. Total liquidity at the end of the quarter, including available borrowing capacity under our revolving credit agreement, was $151.8 million. Cash flow from operations for the nine-month period ended November 2, 2024, was $65.4 million, compared to $33.7 million for the nine-month period ended October 28, 2023. Outlook For the fourth quarter of fiscal 2024 the Company expects: For the full year 2024, which has 52 weeks compared to 53 weeks in full year 2023, the Company expects: The above outlook is based on several assumptions, including, but not limited to, the macroeconomic challenges in the industry in fiscal 2024 as well as higher labor costs. The above outlook does not take into consideration the Consumer Financial Protection Bureau ruling which mandates, among other things, decreases in credit card late fees, and could alter the profitability of our agreements with our private label credit card financing company. See “Forward-Looking Statements” for additional information. Conference Call Details A conference call to discuss the Company’s third quarter 2024 results is scheduled for December 3, 2024, at 4:30 p.m. ET. Those who wish to participate in the call may do so by dialing (877) 407-9208 or (201) 493-6784 for international callers. The conference call will also be webcast live at https://investors.torrid.com . For those unable to participate, a replay of the conference call will be available approximately three hours after the conclusion of the call until December 10, 2024. Notes Adjusted EBITDA is a non-GAAP financial measure. See “Non-GAAP Financial Measures” and “Non-GAAP Reconciliation” for additional information on non-GAAP financial measures and the accompanying table for a reconciliation to the most comparable GAAP measure. The Company does not provide reconciliations of the forward-looking non-GAAP measures of Adjusted EBITDA to the most directly comparable forward-looking GAAP measure because the timing and amount of excluded items are unreasonably difficult to fully and accurately estimate. For the same reasons, the Company is unable to address the probable significance of the unavailable information, which could be material to future results. Comparable sales for any given period are defined as the sales of our e-Commerce operations and stores that we have included in our comparable sales base during that period. We include a store in our comparable sales base after it has been open for 15 full fiscal months. If a store is closed during a fiscal year, it is only included in the computation of comparable sales for the full fiscal months in which it was open. Comparable sales for the third quarter of fiscal year 2024 compares sales for the 13-week period ended November 2, 2024, with sales for the 13-week period ended November 4, 2023. Partial fiscal months are excluded from the computation of comparable sales. We apply current year foreign currency exchange rates to both current year and prior year comparable sales to remove the impact of foreign currency fluctuation and achieve a consistent basis for comparison. Comparable sales allow us to evaluate how our unified commerce business is performing exclusive of the effects of non-comparable sales and new store openings. About Torrid TORRID is a direct-to-consumer brand in North America dedicated to offering a diverse assortment of stylish apparel, intimates, and accessories skillfully designed for curvy women. Specializing in sizes 10 to 30, TORRID’s primary focus is on providing fashionable, comfortable, and affordable options that meet the unique needs of its customers. TORRID’s extensive collection features high quality merchandise, including tops, bottoms, denim, dresses, intimates, activewear, footwear, and accessories. Revenues are generated primarily through its e-Commerce platform www.torrid.com and its stores in the United States of America, Puerto Rico and Canada. Non-GAAP Financial Measures In addition to results determined in accordance with accounting principles generally accepted in the United States of America (“GAAP”), management utilizes certain non-GAAP performance measures, such as Adjusted EBITDA, for purposes of evaluating ongoing operations and for internal planning and forecasting purposes. We believe that these non-GAAP operating measures, when reviewed collectively with our GAAP financial information, provide useful supplemental information to investors in assessing our operating performance. Adjusted EBITDA is a supplemental measure of our operating performance that is neither required by, nor presented in accordance with, GAAP and our calculations thereof may not be comparable to similarly titled measures reported by other companies. Adjusted EBITDA represents GAAP net income (loss) plus interest expense less interest income, net of other expense (income), plus provision for income taxes, depreciation and amortization (“EBITDA”), and share-based compensation, non-cash deductions and charges, and other expenses We believe Adjusted EBITDA facilitates operating performance comparisons from period to period by isolating the effects of certain items that vary from period to period without any correlation to ongoing operating performance. We also use Adjusted EBITDA as one of the primary methods for planning and forecasting the overall expected performance of our business and for evaluating on a quarterly and annual basis, actual results against such expectations. Further, we recognize Adjusted EBITDA as a commonly used measure in determining business value and, as such, use it internally to report and analyze our results and as a benchmark to determine certain non-equity incentive payments made to executives. Adjusted EBITDA has limitations as an analytical tool. This measure is not a measurement of our financial performance under GAAP and should not be considered in isolation or as an alternative to or substitute for net income (loss), income (loss) from operations, earnings (loss) per share or any other performance measures determined in accordance with GAAP or as an alternative to cash flows from operating activities as a measure of our liquidity. Our presentation of Adjusted EBITDA should not be construed as an inference that our future results will be unaffected by unusual or non-recurring items. Forward-Looking Statements Certain statements made in this earnings release are “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended (the “Securities Act”) and Section 21E of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), and are subject to the safe harbor created thereby under the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical or current fact included in this earnings release are forward-looking statements. Forward-looking statements reflect our current expectations and projections relating to our financial condition, results of operations, plans, objectives, future performance and business. You can identify forward-looking statements by the fact that they do not relate strictly to historical or current facts. These statements may include words such as “anticipate,” “estimate,” “expect,” “project,” “plan,” “intend,” “believe,” “may,” “will,” “should,” “can have,” “likely” and other words and terms of similar meaning (including their negative counterparts or other various or comparable terminology). For example, all statements we make relating to our estimated and projected costs, expenditures, cash flows, growth rates and financial results, our plans and objectives for future operations, growth or initiatives, strategies or the expected outcome or impact of pending or threatened litigation are forward-looking statements. All forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from those that we expected, including: • the adverse impact of rulemaking changes implemented by the Consumer Financial Protection Bureau on our income streams, profitability and results of operations; • changes in consumer spending and general economic conditions; • the negative impact on interest expense as a result of steep interest rates; • inflationary pressures with respect to labor and raw materials and global supply chain constraints that could increase our expenses; • our ability to identify and respond to new and changing product trends, customer preferences and other related factors; • our dependence on a strong brand image; • increased competition from other brands and retailers; • our reliance on third parties to drive traffic to our website; • the success of the shopping centers in which our stores are located; • our ability to adapt to consumer shopping preferences and develop and maintain a relevant and reliable omni-channel experience for our customers; • our dependence upon independent third parties for the manufacture of all of our merchandise; • availability constraints and price volatility in the raw materials used to manufacture our products; • interruptions of the flow of our merchandise from international manufacturers causing disruptions in our supply chain; • our sourcing a significant amount of our products from China; • shortages of inventory, delayed shipments to our e-Commerce customers and harm to our reputation due to difficulties or shut-down of our distribution facility; • our reliance upon independent third-party transportation providers for substantially all of our product shipments; • our growth strategy; • our failure to attract and retain employees that reflect our brand image, embody our culture and possess the appropriate skill set; • damage to our reputation arising from our use of social media, email and text messages; • our reliance on third-parties for the provision of certain services, including real estate management; • our dependence upon key members of our executive management team; • our reliance on information systems; • system security risk issues that could disrupt our internal operations or information technology services; • unauthorized disclosure of sensitive or confidential information, whether through a breach of our computer system, third-party computer systems we rely on, or otherwise; • our failure to comply with federal and state laws and regulations and industry standards relating to privacy, data protection, advertising and consumer protection; • payment-related risks that could increase our operating costs or subject us to potential liability; • claims made against us resulting in litigation; • changes in laws and regulations applicable to our business; • regulatory actions or recalls arising from issues with product safety; • our inability to protect our trademarks or other intellectual property rights; • our substantial indebtedness and lease obligations; • restrictions imposed by our indebtedness on our current and future operations; • changes in tax laws or regulations or in our operations that may impact our effective tax rate; • the possibility that we may recognize impairments of long-lived assets; • our failure to maintain adequate internal control over financial reporting; and • the threat of war, terrorism or other catastrophes, including natural disasters, that could negatively impact our business. The outcome of the events described in any of our forward-looking statements are also subject to risks, uncertainties and other factors described in the sections entitled "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations" in our Annual Report on Form 10-K filed with the Securities and Exchange Commission ("SEC") on April 2, 2024 and in our other filings with the SEC and public communications. You should evaluate all forward-looking statements made in this earnings release in the context of these risks and uncertainties. We caution you that the important factors referenced above may not include all of the factors that are important to you. In addition, we cannot assure you that we will realize the results or developments we expect or anticipate or, even if substantially realized, that they will result in the outcomes or affect us or our operations in the way we expect. The forward-looking statements included in this earnings release are made only as of the date hereof. We undertake no obligation to publicly update or revise any forward-looking statement as a result of new information, future events or otherwise except to the extent required by law. Our forward-looking statements do not reflect the potential impact of any future acquisitions, mergers, dispositions, joint ventures or investments. Investors and others should note that we may announce material information to our investors using our investor relations website ( https://investors.torrid.com ), SEC filings, press releases, public conference calls and webcasts. We use these channels, as well as social media, to communicate with our investors and the public about our company, our business and other issues. It is possible that the information that we post on social media could be deemed to be material information. We therefore encourage investors to visit these websites from time to time. The information contained on such websites and social media posts is not incorporated by reference into this filing. Further, our references to website URLs in this filing are intended to be inactive textual references only. TORRID HOLDINGS INC. CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS (UNAUDITED) (In thousands, except per share data) Three Months Ended November 2, 2024 October 28, 2023 Net sales $ 263,766 $ 275,408 Cost of goods sold 168,609 183,906 Gross profit 95,157 91,502 Selling, general and administrative expenses 74,899 71,881 Marketing expenses 13,056 12,739 Income from operations 7,202 6,882 Interest expense 8,784 9,757 Other income, net of other expense (362 ) 267 Loss before benefit from income taxes (1,220 ) (3,142 ) Benefit from income taxes (26 ) (394 ) Net loss $ (1,194 ) $ (2,748 ) Comprehensive loss: Net loss $ (1,194 ) $ (2,748 ) Other comprehensive loss: Foreign currency translation adjustment (86 ) (271 ) Total other comprehensive loss (86 ) (271 ) Comprehensive loss $ (1,280 ) $ (3,019 ) Net loss per share: Basic $ (0.01 ) $ (0.03 ) Diluted $ (0.01 ) $ (0.03 ) Weighted average number of shares: Basic 104,698 104,081 Diluted 104,698 104,081 TORRID HOLDINGS INC. CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED)(In thousands, except share and per share data) November 2, 2024 February 3, 2024 Assets Current assets: Cash and cash equivalents $ 43,953 $ 11,735 Restricted cash 399 399 Inventory 138,261 142,199 Prepaid expenses and other current assets 33,343 22,229 Prepaid income taxes 6,617 2,561 Total current assets 222,573 179,123 Property and equipment, net 85,569 103,516 Operating lease right-of-use assets 149,732 162,444 Deposits and other noncurrent assets 18,027 14,783 Deferred tax assets 8,681 8,681 Intangible asset 8,400 8,400 Total assets $ 492,982 $ 476,947 Liabilities and stockholders' deficit Current liabilities: Accounts payable $ 77,478 $ 46,183 Accrued and other current liabilities 116,650 107,750 Operating lease liabilities 36,312 42,760 Borrowings under credit facility — 7,270 Current portion of term loan 16,144 16,144 Due to related parties 4,330 9,329 Income taxes payable 62 2,671 Total current liabilities 250,976 232,107 Noncurrent operating lease liabilities 145,126 155,825 Term loan 276,445 288,553 Deferred compensation 3,735 5,474 Other noncurrent liabilities 5,986 6,705 Total liabilities 682,268 688,664 Commitments and contingencies Stockholders' deficit Preferred shares: $0.01 par value; 5,000,000 shares authorized; zero shares issued and outstanding at November 2, 2024 and February 3, 2024 — — Common shares: $0.01 par value; 1,000,000,000 shares authorized; 104,732,148 shares issued and outstanding at November 2, 2024; 104,204,554 shares issued and outstanding at February 3, 2024 1,049 1,043 Additional paid-in capital 138,532 135,140 Accumulated deficit (328,281 ) (347,587 ) Accumulated other comprehensive loss (586 ) (313 ) Total stockholders' deficit (189,286 ) (211,717 ) Total liabilities and stockholders' deficit $ 492,982 $ 476,947 TORRID HOLDINGS INC. CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) (In thousands) Nine Months Ended N ovember 2, 2024 Nine Months Ended October 28, 2023 OPERATING ACTIVITIES Net income $ 19,306 $ 15,689 Adjustments to reconcile net income to net cash provided by operating activities: Write down of inventory 1,519 3,767 Operating right-of-use assets amortization 30,429 30,494 Depreciation and other amortization 27,842 28,242 Share-based compensation 4,531 5,981 Other (957 ) (1,351 ) Changes in operating assets and liabilities: Inventory 2,052 4,969 Prepaid expenses and other current assets (11,114 ) (4,578 ) Prepaid income taxes (4,056 ) (2,564 ) Deposits and other noncurrent assets (3,375 ) (6,433 ) Accounts payable 31,876 2,969 Accrued and other current liabilities 10,775 (5,954 ) Operating lease liabilities (33,527 ) (31,565 ) Other noncurrent liabilities (588 ) (468 ) Deferred compensation (1,739 ) 507 Due to related parties (4,999 ) (5,975 ) Income taxes payable (2,609 ) — Net cash provided by operating activities 65,366 33,730 INVESTING ACTIVITIES Purchases of property and equipment (12,617 ) (15,228 ) Net cash used in investing activities (12,617 ) (15,228 ) FINANCING ACTIVITIES Proceeds from revolving credit facility 62,780 455,110 Principal payments on revolving credit facility (70,050 ) (458,390 ) Principal payments on term loan (13,125 ) (13,125 ) Proceeds from issuances under share-based compensation plans 704 320 Withholding tax payments related to vesting of restricted stock units and awards (675 ) (249 ) Net cash used in financing activities (20,366 ) (16,334 ) Effect of foreign currency exchange rate changes on cash, cash equivalents and restricted cash (165 ) (141 ) Increase in cash, cash equivalents and restricted cash 32,218 2,027 Cash, cash equivalents and restricted cash at beginning of period 12,134 13,935 Cash, cash equivalents and restricted cash at end of period $ 44,352 $ 15,962 SUPPLEMENTAL INFORMATION Cash paid during the period for interest related to the revolving credit facility and term loan $ 27,080 $ 24,852 Cash paid during the period for income taxes $ 14,200 $ 10,976 SUPPLEMENTAL DISCLOSURE OF NON-CASH INVESTING AND FINANCING ACTIVITIES Property and equipment purchases included in accounts payable and accrued liabilities $ 1,450 $ 3,360 Non-GAAP Reconciliation The following table provides a reconciliation of Net loss to Adjusted EBITDA for the periods presented (dollars in thousands): Three Months Ended November 2, 2024 October 28, 2023 Net loss $ (1,194 ) $ (2,748 ) Interest expense 8,784 9,757 Other income, net of other expense (362 ) 267 Benefit from income taxes (26 ) (394 ) Depreciation and amortization (A) 8,523 8,785 Share-based compensation (B) 685 1,585 Non-cash deductions and charges (C) 112 409 Other expenses (D) 3,062 1,718 Adjusted EBITDA $ 19,584 $ 19,379 (A) Depreciation and amortization excludes amortization of debt issuance costs and original issue discount that are reflected in interest expense. (B) During the three months ended November 2, 2024 and October 28, 2023, share-based compensation includes $(0.3) million and $0.1 million, respectively, for awards that will be settled in cash as they are accounted for as share-based compensation in accordance with ASC 718, Compensation—Stock Compensation , similar to awards settled in shares. (C) Non-cash deductions and charges includes non-cash losses on property and equipment disposals and the net impact of non-cash rent expense. (D) Other expenses include certain transaction and litigation fees (including certain settlement costs) and severance costs for certain key management positions. View source version on businesswire.com : https://www.businesswire.com/news/home/20241203834068/en/ CONTACT: Investors Lyn Walther IR@torrid.com Media Joele Frank, Wilkinson Brimmer Katcher Michael Freitag / Arielle Rothstein / Lyle Weston Media@torrid.com KEYWORD: UNITED STATES NORTH AMERICA CALIFORNIA INDUSTRY KEYWORD: RETAIL ONLINE RETAIL DEPARTMENT STORES FASHION SOURCE: Torrid Holdings Inc. Copyright Business Wire 2024. PUB: 12/03/2024 04:05 PM/DISC: 12/03/2024 04:06 PM http://www.businesswire.com/news/home/20241203834068/enGophers football players are preparing to play Wisconsin for Paul Bunyan’s Axe on Friday, but three key pieces peered beyond the blinders to shore up their commitment to Minnesota on Monday. Quarterback Max Brosmer and offensive lineman Quinn Carroll — two sixth-year seniors — said they will play in the Gophers’ to-be-determined bowl game, bucking a growing trend of players skipping postseason games to prepare for shots in the NFL. ADVERTISEMENT Brosmer, a transfer from FCS-level New Hampshire, said he will “definitely” suit up. “It’s another opportunity for us to play as a team,” said Brosmer, who threw for 2,426 yards, 15 touchdowns and five interceptions in 11 games this season. “It’s a compilation of what you have worked on all season.” Carroll said he respects higher-level prospects who might opt out and protect their draft stock, but he wants to get back to a “standard” of players not skipping the games. “My goal ever since I came here was to be the leader, be the standard all the time, and I don’t want it to become a standard that we don’t play in the bowl game if we have NFL aspirations,” said Carroll, who has played three seasons at Minnesota after three years at Notre Dame. “Obviously it’s different for guys who are maybe touted a little bit higher or think it will be better off for them to start working on the next step, whether that is combine training or what have you. But that is one opportunity that I’m blessed with to play with the guys and I’m going to take full advantage of it.” Left tackle Aireontae Ersery is a prime candidate of a Gophers player who might want to safeguard a higher draft stock and limit injury exposure by sitting out the bowl game. The possible first- or second-round pick has not said what he might do. For example, former U center, John Michael Schmitz opted out of the Pinstripe Bowl in 2022; he was drafted in the second round by the New York Giants. Meanwhile, Gophers fifth-year defensive lineman Jalen Logan-Redding said he will return to Minnesota for 2025, instead of trying his luck in the NFL. “Coming back next year is definitely going to be the best for me and being able to maximize all my opportunities and exhaust eligibility,” Logan-Redding said. Logan-Redding said he talked with fellow D-lineman Deven Eastern, who has one more year remaining, about pairing up in 2025. ADVERTISEMENT “We talk a lot about it,” Logan-Redding said. “... We are excited for it, honestly. Not only continuing to build the D-line, but just continuing to build on the experience that we already have. We’ve seen the amount of destruction that we can create when we are focused. Me, Dev and, of course, (Anthony Smith). He would be pissed if I didn’t shout him out.” Smith, who has two more years of eligibility, has been one of the U’s best players in the last month. He has 23 total pressures and five sacks, including one sack in each of the last three weeks. ______________________________________________________ This story was written by one of our partner news agencies. Forum Communications Company uses content from agencies such as Reuters, Kaiser Health News, Tribune News Service and others to provide a wider range of news to our readers. Learn more about the news services FCC uses here .