SAN CARLOS, Ariz. — After missing 40 days of school last year, Tommy Betom, 10, is on track this year for much better attendance . The importance of showing up has been stressed repeatedly at school — and at home. When he went to school last year, he often came home saying the teacher was picking on him and other kids were making fun of his clothes. But Tommy’s grandmother Ethel Marie Betom, who became one of his caregivers after his parents split, said she told him to choose his friends carefully and to behave in class. He needs to go to school for the sake of his future, she told him. “I didn’t have everything,” said Betom, an enrolled member of the San Carlos Apache tribe. Tommy attends school on the tribe’s reservation in southeastern Arizona. “You have everything. You have running water in the house, bathrooms and a running car.” A teacher and a truancy officer also reached out to Tommy’s family to address his attendance. He was one of many. Across the San Carlos Unified School District, 76% of students were chronically absent during the 2022-2023 school year, meaning they missed 10% or more of the school year. This story is part of a collaboration on chronic absenteeism among Native American students between The Associated Press and ICT, a news outlet that covers Indigenous issues. Years after COVID-19 disrupted American schools, nearly every state is still struggling with attendance . But attendance has been worse for Native American students — a disparity that existed before the pandemic and has since grown, according to data collected by The Associated Press. Out of 34 states with data available for the 2022-2023 school year, half had absenteeism rates for Native American and Alaska Native students that were at least 9 percentage points higher than the state average. Many schools serving Native students have been working to strengthen connections with families, who often struggle with higher rates of illness and poverty. Schools also must navigate distrust dating back to the U.S. government’s campaign to break up Native American culture, language and identity by forcing children into abusive boarding schools . History “may cause them to not see the investment in a public school education as a good use of their time,” said Dallas Pettigrew, director of Oklahoma University’s Center for Tribal Social Work and a member of the Cherokee Nation. The San Carlos school system recently introduced care centers that partner with hospitals, dentists and food banks to provide services to students at multiple schools. The work is guided by cultural success coaches — school employees who help families address challenges that keep students from coming to school. Nearly 100% of students in the district are Native and more than half of families have incomes below the federal poverty level. Many students come from homes that deal with alcoholism and drug abuse, Superintendent Deborah Dennison said. Students miss school for reasons ranging from anxiety to unstable living conditions, said Jason Jones, a cultural success coach at San Carlos High School and an enrolled member of the San Carlos Apache tribe. Acknowledging their fears, grief and trauma helps him connect with students, he said. “You feel better, you do better,” Jones said. “That’s our job here in the care center is to help the students feel better.” In the 2023-2024 school year, the chronic absenteeism rate in the district fell from 76% to 59% — an improvement Dennison attributes partly to efforts to address their communities’ needs. “All these connections with the community and the tribe are what’s making a difference for us and making the school a system that fits them rather than something that has been forced upon them, like it has been for over a century of education in Indian Country,” said Dennison, a member of the Navajo Nation. In three states — Alaska, Nebraska, and South Dakota — the majority of Native American and Alaska Native students were chronically absent. In some states, it has continued to worsen, even while improving slightly for other students, as in Arizona, where chronic absenteeism for Native students rose from 22% in 2018-2019 to 45% in 2022-2023. AP’s analysis does not include data on schools managed by the U.S. Bureau of Indian Education, which are not run by traditional districts. Less than 10% of Native American students attend BIE schools. At Algodones Elementary School, which serves a handful of Native American pueblos along New Mexico’s Upper Rio Grande, about two-thirds of students are chronically absent. The communities were hit hard by COVID-19, with devastating impacts on elders. Since schools reopened, students have been slow to return. Excused absences for sick days are still piling up — in some cases, Principal Rosangela Montoya suspects, students are stressed about falling behind academically. Staff and tribal liaisons have been analyzing every absence and emphasizing connections with parents. By 10 a.m., telephone calls go out to the homes of absent students. Next steps include in-person meetings with those students’ parents. “There’s illness. There’s trauma,” Montoya said. “A lot of our grandparents are the ones raising the children so that the parents can be working.” About 95% of Algodones’ students are Native American, and the school strives to affirm their identity. It doesn’t open on four days set aside for Native American ceremonial gatherings, and students are excused for absences on other cultural days as designated by the nearby pueblos. For Jennifer Tenorio, it makes a difference that the school offers classes in the family’s native language of Keres. She speaks Keres at home, but says that’s not always enough to instill fluency. Tenorio said her two oldest children, now in their 20s, were discouraged from speaking Keres when enrolled in the federal Head Start educational program — a system that now promotes native language preservation — and they struggled academically. “It was sad to see with my own eyes,” said Tenorio, a single parent and administrative assistant who has used the school’s food bank. “In Algodones, I saw a big difference to where the teachers were really there for the students, and for all the kids, to help them learn.” Over a lunch of strawberry milk and enchiladas on a recent school day, her 8-year-old son Cameron Tenorio said he likes math and wants to be a policeman. “He’s inspired,” Tenorio said. “He tells me every day what he learns.” In Arizona, Rice Intermediate School Principal Nicholas Ferro said better communication with families, including Tommy Betom’s, has helped improve attendance. Since many parents are without working phones, he said, that often means home visits. Lillian Curtis said she has been impressed by Rice Intermediate’s student activities on family night. Her granddaughter, Brylee Lupe, 10, missed 10 days of school by mid-October last year but had missed just two days by the same time this year. “The kids always want to go — they are anxious to go to school now. And Brylee is much more excited,” said Curtis, who takes care of her grandchildren. Curtis said she tells Brylee that skipping school is not an option. “I just told her that you need to be in school, because who is going to be supporting you?” Curtis said. “You’ve got to do it on your own. You got to make something of yourself.” The district has made gains because it is changing the perception of school and what it can offer, said Dennison, the superintendent. Its efforts have helped not just with attendance but also morale, especially at the high school, she said. “Education was a weapon for the U.S. government back in the past,” she said. “We work to decolonize our school system.” Lee reported from Santa Fe, New Mexico, and Lurye reported from New Orleans. Alia Wong of The Associated Press and Felix Clary of ICT contributed to this report. The Associated Press’ education coverage receives financial support from multiple private foundations. AP is solely responsible for all content. Find AP’s standards for working with philanthropies, a list of supporters and funded coverage areas at AP.org .WHITE SULPHUR SPRINGS, W. Va. (AP) — Jordan Sears scored 25 points, Jalen Reed had 21 points and 13 rebounds, and LSU defeated UCF 109-102 in triple overtime on Sunday to take third place at the Greenbrier Tip-Off. LSU trailed by 18 points early in the second half, then failed to hold a lead at the end of regulation and each of the first two overtime periods. The Tigers went up by five with a minute to go in the third overtime. UCF cut it to three, then Vyctorius Miller made a driving layup, Jordan Sears followed with a dunk and the Tigers were able to hold on when leading by seven. Cam Carter scored 20 points, Miller had 16 and Dji Bailey 14 for LSU (5-1). Darius Johnson had 25 points, eight assists and six rebounds for UCF (4-2). Keyshawn Hall had 21 points and 10 rebounds, and Jordan Ivy-Curry scored 20. South Florida led by 15 points at halftime and maintained a double-digit lead for all but a few possessions in the first 11 1/2 minutes of the second half. UCF led 62-48 with 8 1/2 minutes remaining but Sears hit three 3-pointers and LSU drew to within 64-59 with 6 minutes to go. The Tigers scored the last six points of regulation to force overtime. In the first half, LSU led 15-13 about eight minutes into the game but the Tigers missed 15 of 16 shots while being outscored 25-3 over the next 10 minutes. South Florida led 40-25 at halftime after shooting 46% to 25% for LSU. ___ Get poll alerts and updates on the AP Top 25 throughout the season. Sign up here . AP college basketball: https://apnews.com/hub/ap-top-25-college-basketball-poll and https://apnews.com/hub/college-basketball
Col (Dr) Adarsh Sharma Building a Life Beyond Work In the race to climb the corporate ladder or promotions in the government sector or hit the next career milestone, we often forget the bigger picture: life is about balance, fulfillment, and joy. Your job may help pay the bills, but your career shouldn’t define your entire existence. If you have been living on autopilot, this is your wake-up call. Let’s explore how to thrive at work while building a meaningful life outside of it. Build Your Home Early – A Foundation for Memories Life isn’t just about making a living; it’s about creating a life. Start building your home as early as possible, whether in a rural or urban area. Let your family enjoy quality time together and create lasting memories in your home while you are younger. Building a home early, whether in the countryside or the city, gives your family a sanctuary to grow, laugh, and create cherished memories. Waiting until after 50 to achieve this robs you and your loved ones of those precious moments. A house isn’t just bricks and mortar-it’s where life unfolds. Prioritize Family Time : Take time away from work. Do not spend all year glued to the office. Remember, you are not indispensable. If something happens to you, the organization will continue without you. Your family should always be priority. You are not the irreplaceable cog you imagine yourself to be at work. If you were to leave-or even pass away-operations would continue without a hiccup. That’s a sobering reality, but it’s also freeing. It means you have permission to prioritize your family, your health, and your happiness. Don’t let work steal the time meant for the people who love you. Forget the Chase for Promotions- Pursue Mastery Instead Focus on Excellence, Not Promotions: Concentrate on mastering your skills and excelling in your work. Promotions will come if they are deserved, but if they don’t, maintain a positive attitude and focus on your personal development. Titles come and go, and promotions are often out of your control. But your skills? Your mastery? That’s yours forever. Focus on becoming excellent at your craft. When opportunities arise, they will find you. If they don’t, you’ll still find joy in knowing you are growing and developing for yourself, not for anyone else’s recognition. Rise Above Gossip – Protect Your Integrity Steer Clear of Gossip: Avoid workplace gossip or activities that could tarnish your reputation. Stay away from conversations or groups that thrive on negativity, especially those that involve criticizing your colleagues or bosses. Gossip is a trap that tarnishes reputations and sours relationships. Instead of falling into negative cliques or backbiting circles, rise above the noise. Focus on your work, build trust, and keep your name clean. Your integrity is one of your greatest assets-guard it fiercely. Don’t Compete unnecessarily, but Collaborate Avoid competing with your bosses-it will only lead to frustration and could backfire. Similarly, constant rivalry with your colleagues will drain you and could lead to stress and unnecessary tension. Focus on your own growth instead. Collaborate, Share knowledge, Celebrate others’ wins. Success isn’t a zero-sum game, and helping others succeed often opens doors for you too. Diversify Your Income: Start a side business – A Lifeline for the future. Cultivate a side business to supplement your salary. Relying solely on your paycheck or salary may not sustain your long-term financial needs. Life gets more expensive over time, and inflation doesn’t wait for your next raise. A side business-no matter how small-can provide financial security, help you develop new skills, and eventually even outgrow your day job. Start now, and your future self will thank you. Save Automatically – Invest Wisely. Saving money can feel like a burden, but automation makes it easy. Deduct a portion of your paycheck before you even see it. Over time, those savings will grow into a safety net, giving you freedom and peace of mind. When borrowing, be strategic-invest in opportunities, not fleeting luxuries. Luxury purchases should come from your profits, not debt. Keep Your Private Life Private Maintain boundaries between your personal life and your work: Keep details about your family, marriage, and personal matters away from your workplace as your family and your personal life are sacred. Keep them separate from your workplace. Sharing too much invites unnecessary scrutiny, judgment, and gossip. Protect your personal world-it’s your safe haven. Be Loyal to Yourself, Not Just Your Job Believe in your work and remain true to your values: Loyalty is admirable, but blind loyalty can be dangerous. Prioritize your well-being and career growth over appeasing bosses or clinging to a job that no longer serves you. Hanging around your boss to curry favor might alienate colleagues and backfire if your boss moves on. Focus on building a reputation for hard work and integrity instead. Loyalty and integrity towards the Organization or workplace will be more admirable and self satisfying than appeasements or buttering. Plan for an Early Retirement – Exit with Purpose Retirement isn’t just the end of your career; It’s the beginning of your freedom. Start planning the day you sign your employment contract. Set a goal to retire by 50, or even earlier, so you can enjoy life on your own terms while you are still healthy and energetic. Freedom comes to those who prepare for it. Use Leave Days Wisely-Invest in Your Future Your leave days are not just for rest-they are for renewal use them to work on personal projects, your side business, or your dream home. What you do with this time reflects the life you’ll lead after retirement. Build habits today that will sustain you tomorrow. How you spend this time often reflects how you’ll live after retirement. Be Active in Welfare Groups-A Community Safety Net Workplace welfare groups are not just social clubs-they are lifelines. Whether it’s financial support during emergencies or emotional support during tough times, these groups create a community you can lean on. Participate actively, and you will build lasting connections and security. Participate in Work Welfare Programs Join your workplace’s welfare programs and stay actively involved. These programs can be invaluable during unexpected challenges. Develop a strong network of welfare groups or connections Create a strong network of connections & bonding in society apart from your work place. Use these relationships for mutual support, collaboration, and sharing opportunities. Help others whenever you are in a position to do so. Remember, your position of power may not last forever, but the meaningful bonds and relationships you create will remain with you throughout your life. Believe in Yourself-You Are Your Greatest Asset At the end of the day, your success isn’t about who likes you or what titles you hold. It’s about how much you trust yourself and your work. Build a career you’re proud of, but never forget: your greatest loyalty is to yourself and the life you’re building outside the office. Life is too short to be consumed by work. Build a foundation for your dreams, nurture your relationships, and plan for the future today. Remember: your job is what you do, not who you are. Prioritize what truly matters, and the life you create will be your greatest achievement.8 Thanksgiving mistakes: Frozen or overcooked turkey, too many sides and other common holiday miscues
Net sales increased 2% versus last year with comparable sales up 1% Operating margin of 9.3% improved 270 basis points versus last year Market share gains across all brands in the quarter Raises outlook for fiscal 2024 net sales, gross margin and operating income growth SAN FRANCISCO , Nov. 21, 2024 /PRNewswire/ -- Gap Inc. (NYSE: GAP), the largest specialty apparel company in the U.S. and a house of iconic brands including Old Navy, Gap, Banana Republic, and Athleta, today reported financial results for its third quarter ended November 2, 2024. "I'm proud that Gap Inc. delivered another successful quarter, growing net sales for the 4 th consecutive quarter and gaining market share across all brands while meaningfully expanding operating margin," said President and Chief Executive Officer, Richard Dickson . "Consistent execution of our strategic priorities, including the rigor and repetition we're applying to our brand reinvigoration playbook, is making us a stronger company and demonstrates our continued progress in unlocking Gap Inc.'s full potential." Dickson continued: "Holiday is off to a strong start and we remain focused on executing with excellence in the fourth quarter. Our performance year-to-date gives us the confidence to raise our full year outlook for sales, gross margin and operating income growth." Third Quarter Fiscal 2024 – Financial Results Balance Sheet and Cash Flow Highlights Additional information regarding free cash flow, which is a non-GAAP financial measure, is provided at the end of this press release along with a reconciliation of this measure from the most directly comparable GAAP financial measure for the applicable period. Third Quarter Fiscal 2024 – Global Brand Results Comparable Sales Third Quarter 2024 2023 Old Navy — % 1 % Gap 3 % (1) % Banana Republic (1) % (8) % Athleta 5 % (19) % Gap Inc. 1 % (2) % Old Navy: Gap: Banana Republic: Athleta: Fiscal 2024 Outlook As a result of its strong third quarter results, the company is raising its full year outlook for net sales, gross margin and operating income growth compared to prior expectations. Please note that the company's projected full year fiscal 2024 operating income growth below is provided in comparison to its full year fiscal 2023 adjusted operating income, which excludes $93 million in restructuring costs and a $47 million gain on sale of a building. Full Year Fiscal 2024 Current FY24 Outlook Prior FY24 Outlook FY23 Results Net sales Up 1.5% to 2.0% on a 52-week basis Up slightly on a 52-week basis $14.9 billion 1 Gross margin Approximately 220 bps expansion Approximately 200 bps expansion 38.8 % Operating expense Approximately $5.1 billion Approximately $5.1 billion $5.17 billion (adjusted) 2 Operating income Mid to High 60% growth range Mid to High 50% growth range $606 million (adjusted) 3 Effective tax rate Approximately 26.5% Approximately 28% 9.7 % Capital expenditures Approximately $500 million Approximately $500 million $420 million 1 Fiscal year 2023 consisted of 53 weeks and the extra week drove approximately $160 million of incremental sales. 2 Fiscal year 2023 adjusted operating expense of $5.17 billion excludes $89 million in restructuring costs and a $47 million gain on sale. 3 Fiscal year 2023 adjusted operating income of $606 million excludes $93 million in restructuring costs and a $47 million gain on sale. Webcast and Conference Call Information Whitney Notaro , Head of Investor Relations at Gap Inc., will host a conference call to review the company's third quarter fiscal 2024 results beginning at approximately 2:00 p.m. Pacific Time today. Ms. Notaro will be joined by President and Chief Executive Officer, Richard Dickson and Chief Financial Officer, Katrina O'Connell . A live webcast of the conference call and accompanying materials will be available online at investors.gapinc.com . A replay of the webcast will be available at the same location. Non-GAAP Disclosure This press release and related conference call include financial measures that have not been calculated in accordance with U.S. generally accepted accounting principles (GAAP) and are therefore referred to as non-GAAP financial measures. The non-GAAP measures described below are intended to provide investors with additional useful information about the company's financial performance, to enhance the overall understanding of its past performance and future prospects, and to allow for greater transparency with respect to important metrics used by management for financial and operating decision-making. The company presents these non-GAAP financial measures to assist investors in seeing its financial performance from management's view and because it believes they provide an additional tool for investors to use in computing the company's core financial performance over multiple periods with other companies in its industry. Additional information regarding the intended use of non-GAAP measures included in this press release and related conference call is provided in the tables to this press release. The non-GAAP measures included in this press release and related conference call are adjusted operating expense/adjusted SG&A, adjusted operating income, adjusted operating margin, adjusted diluted earnings per share, and free cash flow. These non-GAAP measures exclude the impact of certain items that are set forth in the tables to this press release. In addition, the company's outlook includes projected full year fiscal 2024 operating income growth compared to its full year fiscal 2023 adjusted operating income. The non-GAAP measures used by the company should not be considered as a substitute for, or superior to, measures of financial performance prepared in accordance with GAAP and may not be the same as similarly titled measures used by other companies due to possible differences in method and in items or events being adjusted. The company urges investors to review the reconciliation of non-GAAP financial measures to the most directly comparable GAAP financial measures included in the tables to this press release below, and not to rely on any single financial measure to evaluate its business. The non-GAAP financial measures used by the company have limitations in their usefulness to investors because they have no standardized meaning prescribed by GAAP and are not prepared under any comprehensive set of accounting rules or principles. Forward-Looking Statements This press release and related conference call and accompanying materials contain forward-looking statements within the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. All statements other than those that are purely historical are forward-looking statements. Words such as "expect," "anticipate," "believe," "estimate," "intend," "plan," "project," and similar expressions also identify forward-looking statements. Forward-looking statements include statements regarding the following: becoming a high performing company; unlocking Gap Inc.'s potential; our four strategic priorities, including maintaining and delivering financial and operational rigor, the reinvigoration of our brands, strengthening our operating platform, and energizing our culture; driving relevance and revenue by executing on our brand reinvigoration playbook; expectations for Old Navy for the holiday season; accelerating Old Navy's presence in the Active category; Old Navy's holiday activations and product; reigniting Gap brand's leadership in trend-right products and creative expression through big ideas and culturally relevant messaging; reestablishing Banana Republic to thrive in the premium lifestyle space; evolving Banana Republic's assortment and fit; continuing to fix the fundamentals at Banana Republic; Banana Republic's holiday product; Athleta's trajectory; Athleta's holiday product; enhancing Athleta's in-store and online experiences; driving high-performance across our teams; executing with excellence; Gap Inc.'s positioning going into the holiday season; expectations for our full year performance; expected year-end inventory levels; expected full year fiscal 2024 net sales; the expected impact of the loss of the 53rd week on full year fiscal 2024 net sales; expected fourth quarter fiscal 2024 net sales; the expected impacts of the loss of the 53rd week and the weekly calendar shift on fourth quarter fiscal 2024 net sales; expected full year fiscal 2024 gross margin; the expected impacts of commodity costs and better inventory management on full year fiscal 2024 gross margin; expected full year fiscal 2024 ROD; expected fourth quarter fiscal 2024 gross margin; the expected impact of the loss of the 53rd week on fourth quarter fiscal 2024 gross margin; expected full year fiscal 2024 SG&A/operating expense; continuing cost discipline and unlocking more efficiencies in the business; expected full year fiscal 2024 operating income; expected full year fiscal 2024 effective tax rate; expected full year fiscal 2024 capital expenditures; generating sustainable, profitable growth and delivering long-term shareholder value; and our dividend policy. Because these forward-looking statements involve risks and uncertainties, there are important factors that could cause our actual results to differ materially from those in the forward-looking statements. These factors include, without limitation, the following risks, any of which could have an adverse effect on our business, financial condition, results of operations, or reputation: the overall global economic and geopolitical environment, including the ongoing Russia - Ukraine and Israel-Hamas conflicts and recent elections in the United States , and impacts on consumer spending patterns; social and political unrest in our sourcing countries, including Bangladesh , and disruptions to global trade and shipping capacity, including in the Red Sea; the risk that we or our franchisees may be unsuccessful in gauging apparel trends and changing consumer preferences or responding with sufficient lead time; the highly competitive nature of our business in the United States and internationally; the risk that we may be unable to manage our inventory effectively and the resulting impact on our gross margins and sales; the risk that our investments in customer, digital, and omni-channel shopping initiatives may not deliver the results we anticipate; the risk that we fail to maintain, enhance, and protect our brand image and reputation; the risk of loss or theft of assets, including inventory shortage; the risk that we fail to manage key executive succession and retention or continue to attract qualified personnel; reductions in income and cash flow from our credit card arrangement related to our private label and co-branded credit cards; the risk that changes in our business strategy or restructuring our operations may not generate the intended benefits or projected cost savings; the risk that trade matters could increase the cost or reduce the supply of apparel available to us; the risks to our business, including our costs and global supply chain, associated with global sourcing and manufacturing; the risks to our reputation or operations associated with importing merchandise from foreign countries, including failure of our vendors to adhere to our Code of Vendor Conduct; the risk that we or our franchisees may be unsuccessful in identifying, negotiating, and securing new store locations and renewing, modifying, or terminating leases for existing store locations effectively; engaging in or seeking to engage in strategic transactions that are subject to various risks and uncertainties; the risk that our efforts to expand internationally may not be successful; the risk that our franchisees and licensees could impair the value of our brands; the risk of data or other security breaches or vulnerabilities that may result in increased costs, violations of law, significant legal and financial exposure, and a loss of confidence in our security measures; the risk that failures of, or updates or changes to, our IT systems may disrupt our operations; the risk that our comparable sales and margins may experience fluctuations, that we may fail to meet financial market expectations, or that the seasonality of our business may experience fluctuations; the risk of foreign currency exchange rate fluctuations; the risk that our level of indebtedness may impact our ability to operate and expand our business; the risk that we and our subsidiaries may be unable to meet our obligations under our indebtedness agreements; the risk that changes in our credit profile or deterioration in market conditions may limit our access to the capital markets; natural disasters, public health crises (such as pandemics and epidemics), political crises (such as the ongoing Russia - Ukraine and Israel-Hamas conflicts), negative global climate patterns, or other catastrophic events; evolving regulations and expectations with respect to ESG matters, including climate reporting; the adverse effects of climate change on our operations and those of our franchisees, vendors, and other business partners; our failure to comply with applicable laws and regulations and changes in the regulatory or administrative landscape; the risk that we will not be successful in defending various proceedings, lawsuits, disputes, and claims; the risk that our estimates and assumptions used when preparing our financial information are inaccurate or may change; the risk that changes in the geographic mix and level of income or losses, the expected or actual outcome of audits, changes in deferred tax valuation allowances, and new legislation could impact our effective tax rate, or that we may be required to pay amounts in excess of established tax liabilities; the risk that changes in our business structure, our performance or our industry could result in reductions in our pre-tax income or utilization of existing tax carryforwards in future periods, and require additional deferred tax valuation allowances; the risk that the adoption of new accounting pronouncements will impact future results; and the risk that additional information may arise during our close process or as a result of subsequent events that would require us to make adjustments to our financial information. Additional information regarding factors that could cause results to differ can be found in our Annual Report on Form 10-K filed with the Securities and Exchange Commission on March 19, 2024 , as well as our subsequent filings with the Securities and Exchange Commission. These forward-looking statements are based on information as of November 21, 2024 . We assume no obligation to publicly update or revise our forward-looking statements even if experience or future changes make it clear that any projected results expressed or implied therein will not be realized. About Gap Inc. Gap Inc., a house of iconic brands, is the largest specialty apparel company in America. Its Old Navy , Gap , Banana Republic , and Athleta brands offer clothing, accessories, and lifestyle products for men, women and children. Since 1969, Gap Inc. has created products and experiences that shape culture, while doing right by employees, communities and the planet. Gap Inc. products are available worldwide through company-operated stores, franchise stores, and e-commerce sites. Fiscal year 2023 net sales were $14.9 billion . For more information, please visit www.gapinc.com . Investor Relations Contact: Nina Bari Investor_relations@gap.com Media Relations Contact: Megan Foote Press@gap.com The Gap, Inc. CONDENSED CONSOLIDATED BALANCE SHEETS UNAUDITED ($ in millions) November 2, 2024 October 28, 2023 ASSETS Current assets: Cash and cash equivalents $ 1,969 $ 1,351 Short-term investments 250 — Merchandise inventory 2,331 2,377 Other current assets 580 646 Total current assets 5,130 4,374 Property and equipment, net of accumulated depreciation 2,546 2,552 Operating lease assets 3,217 3,200 Other long-term assets 960 926 Total assets $ 11,853 $ 11,052 LIABILITIES AND STOCKHOLDERS' EQUITY Current liabilities: Accounts payable $ 1,523 $ 1,433 Accrued expenses and other current liabilities 1,135 1,078 Current portion of operating lease liabilities 617 604 Income taxes payable 50 24 Total current liabilities 3,325 3,139 Long-term liabilities: Long-term debt 1,489 1,488 Long-term operating lease liabilities 3,360 3,456 Other long-term liabilities 544 509 Total long-term liabilities 5,393 5,453 Total stockholders' equity 3,135 2,460 Total liabilities and stockholders' equity $ 11,853 $ 11,052 The Gap, Inc. CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS UNAUDITED 13 Weeks Ended 39 Weeks Ended ($ and shares in millions except per share amounts) November 2, 2024 October 28, 2023 November 2, 2024 October 28, 2023 Net sales $ 3,829 $ 3,767 $ 10,937 $ 10,591 Cost of goods sold and occupancy expenses 2,194 2,211 6,322 6,488 Gross profit 1,635 1,556 4,615 4,103 Operating expenses 1,280 1,306 3,762 3,757 Operating income 355 250 853 346 Interest, net (6) — (12) 8 Income before income taxes 361 250 865 338 Income tax expense 87 32 227 21 Net income $ 274 $ 218 $ 638 $ 317 Weighted-average number of shares - basic 377 371 376 369 Weighted-average number of shares - diluted 383 375 383 373 Earnings per share - basic $ 0.73 $ 0.59 $ 1.70 $ 0.86 Earnings per share - diluted $ 0.72 $ 0.58 $ 1.67 $ 0.85 The Gap, Inc. CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS UNAUDITED 39 Weeks Ended ($ in millions) November 2, 2024 (a) October 28, 2023 (a) Cash flows from operating activities: Net income $ 638 $ 317 Depreciation and amortization 371 394 Gain on sale of building — (47) Change in merchandise inventory (344) (5) Change in accounts payable 156 133 Other, netOkta up 17% after posting profit, revenue jump in Q3
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Beed: Thousands of people gathered in Maharashtra's Beed city on Saturday to protest against the brutal murder of Massajog sarpanch Santosh Deshmukh as even MLAs from the ruling coalition demanded the sacking of NCP minister Dhananjay Munde . ET Year-end Special Reads Take That: The gamechanger weapon's India acquired in 2024 10 big-bang policy moves Modi government made in 2024 How governments tried to rein in the social media beast Maratha quota activist Manoj Jarange, former MP Sambhaji Raje Chhatrapati, local BJP MLAs Suresh Dhas, Abhimanyu Pawar; NCP MLA Prakash Solanke and NCP (SP) MLAs Jitendra Awhad and Sandeep Kshirsagar participated in the 'aakrosh morcha' or protest march that culminated in a rally. The protesters demanded arrest of Walmik Karad, an associate of Dhananjay Munde, a politician from Beed district. Santosh Deshmukh was allegedly abducted and tortured to death on December 9. While four persons have been arrested, Opposition leaders claimed in the state legislature during the winter session that Walmik Karad was the mastermind of the murder. Karad, named as an accused in a related case of extortion but not for the murder, is still at large. (You can now subscribe to our Economic Times WhatsApp channel )
Two members of the Westbank Lions Club wanted to give back this holiday by serving meals to the unhoused population on Christmas Day. On Dec. 18, Leonard, the president of the club and his wife, Leah Thordarson, shared this idea with other members after finding out that no organizations served the unhoused community on Christmas Day in West Kelowna. "It was important for us to ensure that our dinner took place on Christmas Day--not a month before, not a week before," Leah Thordarson said in a statement. After receiving support from the club, members helped serve Christmas dinner at Westbank Lions hall for those who live in Westbank, West Kelowna and Peachland. Members also provided guests with toques, gloves and socks. "The doors opened at 11 a.m. and the unhoused population were invited to come in and stay warm. They were met with friendly volunteers, there to ensure everyone felt cared for, loved and seen," reads a statement from the club. In total, four turkeys, two hams, and a dessert were served. Take-out meals were also given out. Later on, card games were set up and the film Elf was shown onscreen. "We want everyone to feel special in our community, especially during the holidays. Christmas can be a lonely time, so if we could impact just one person living on the street and make it a little less depressing then it's the right thing to do," Leah said. The club is appreciative of the community members who helped make this event possible. "We are so blessed," said Leonard in a statement. "Each and every one of us can (be) kind to one another and (help) our community, not just at Christmas, but all year long," he said.Buying a house in 2025: your how-to guide
Facebook Twitter WhatsApp SMS Email Print Copy article link Save Most of us are not professional chefs or caterers or decorators, so the thought of cooking for and entertaining a Thanksgiving crowd can be daunting. That's why we turned to the experts — professional chefs and caterers and interior designers — to discuss some typical Thanksgiving mistakes and how to avoid them. Adobe Stock "The overriding first mistake people make is they think they have more time than they do," said Bistro to Go Cafe and Catering executive chef Kate Kobylinski. She regularly hosts her extended family of 30 and knows "every single problem." "Food takes longer to cook, the table takes longer to set and houses take longer to clean than you think." Clean your house on Monday. On Wednesday, dice vegetables so they're "food-show ready," as Kobylinski put it. Prepare (but don't cook) your green bean casserole (leaving off garnishes like fried onions) so it can just be popped in the oven and set the dining room table. Man fatally shot by Ravalli County Sheriff's deputy near Stevensville Group launches fundraiser in suit challenging approval of Florence subdivision Stevensville schools closed Tuesday citing 'unsafe' driving conditions Spirit Airlines filed for bankruptcy. What does that mean for holiday season travelers? Citizen grand juries and county militias: The quiet rise of Tactical Civics in Montana Sheehy endorses some Trump cabinet picks, declines to respond on others Women report widespread misogyny in churches tied to religious group 'The Message' Bitterroot Health recruiting locals for new medical assistant training Revenue department says property taxes could rise again Bitterroot Health Athletes of the Week: Isaac Bates and Ella Goeltz Live updates: No. 2 Montana State Bobcats vs No. 9 Montana Grizzlies in Brawl of the Wild Rewind: How Tactical Civics ideology traces the Montana Freemen blueprint Bill Speltz: Don't blame the Montana defense for Saturday's Brawl debacle in Bozeman State Sen. Kathy Kelker resigns, Yellowstone County Commission to appoint a successor The Call of the Wild: Montana athletes answer with service | John Cech Don't feel that you have to do everything yourself. But be as specific as possible when doling out the assignments. "Don't let them make their own decisions!" Kobylinski said emphatically. Thanksgiving is "micromanager's heaven." For example, have someone bring ice on Thanksgiving Day because going out to buy it takes time and ice hogs freezer space. If you don't like making desserts, have someone bring one. If a guest wants to prepare a side dish, great, but decide beforehand what they will bring. Ahead of dinner, interior designer Kacie Cope likes to set out all of her serving platters with Post-it notes attached denoting what will go on them. "You'll be amazed if you have them labeled," she said. "People can help in a jiff." During the evening, Kobylinski gives people assigned jobs, such as serving drinks or taking charge of an after-dinner game. And the chef is forgiving about using premade ingredients, like gravy or cranberry jelly. "There's no right or wrong way to make any of your foods," she said. But you might want to give a homemade touch to prepared ingredients, like adding sauteed onions or celery to prepared gravy. "Everyone goes into Thanksgiving Day with a half-frozen turkey," said Kobylinski. "And you can't get the bag of giblets out because they're frozen in place." It takes one day for every 4 pounds of turkey meat to defrost in the refrigerator. (No, it is not safe to leave your frozen turkey out on the counter to thaw and breed bacteria.) So if you've got a 20-pound bird, you've got to start thawing on the Saturday before Thanksgiving. However, there are other methods. Kobylinski suggests submerging the bird and running a thin stream of cold water over it. "It doesn't have to be a lot of water." The U.S. Department of Agriculture says there are only three ways to safely thaw food: In the refrigerator, in cold water or in the microwave. To safely thaw turkey in cold water, the USDA says it takes about 30 minutes per pound. Put the turkey in a leak-proof plastic bag to prevent cross-contamination and submerge it. Change the water every 30 minutes, and cook immediately when it's thawed. If opting for your microwave, follow its instructions for thawing and cook immediately. Then, if you're running late and need to speed things up to satisfy the hungry hordes, you can cut the bird in half before cooking (skin side up). This significantly reduces cooking time, requiring about 10 minutes per pound. Kobylinski also recommends resting the turkey on vegetables in the oven to keep the bottom from getting burned. Adobe Stock Private chef and culinary educator Emily Larsen warns that those plastic thermometers in supermarket turkeys are setting you up for failure. The USDA says that you should cook a turkey until the internal temperature is 165 degrees. Plastic thermometers don't pop out until the breast meat is at about 180 degrees, "when your turkey is completely dry," Larsen said. Plus, people forget that meat continues to cook once it's out of the oven. She recommends taking a bird out of the oven when it is at 155 degrees — she likes to use an inexpensive instant-read folding probe thermometer — and continue to monitor it. (Insert it into the thickest part of the breast, avoiding the bone.) "Ten dollars [for the thermometer] can save your Thanksgiving," she said. Some feel that buying a frozen rather than fresh bird is another no-no, since freezing leaches water out of the turkey. However, if, despite your best efforts, your turkey is lacking moisture, Kobylinski has a fix: Put warm chicken or turkey stock and clarified butter into a mister and spritz sliced turkey with it before serving. "The same with stuffing if it's too dry," she said. ANNE D'INNOCENZIOAssociated Press Thanksgiving Day is not the time to try out a completely new recipe. And you don't have to lay out 10 side dishes. In addition to opting for a simple menu, Kobylinski also recommends figuring out how long your items will take to cook and what method of cooking it requires ahead of time. Your turkey will be monopolizing your oven for four hours, so other oven foods should be limited or be easily reheated during the time that the turkey is resting. (As for resting a turkey, the chef puts her turkey on a hot plate with towels over it so "the meat rebinds itself and stabilizes for a smoother cut.") "Stovetop items should be staggered," she said, so you don't have a frying pan and three pots all going at once. As a sample menu, she suggests you might have one baked potato dish and one mashed. And for vegetables, one baked dish and one that is blanched or grilled. Interior designers advise against going too crazy with holiday-specific décor. "There's a lot that's being sold to us that we feel like we need," said Pittsburgh interior designer Amanda Bock. Do you really need a turkey-shaped vase or pilgrim figurines? "They're out for two weeks, and then you have to figure out where to store them," agreed Cope. "It takes an already busy season and makes it stressful in an unnecessary way." Cope says you can take things that are already part of your menu and use them as décor — a bowl of nuts or cranberries, or even removing the label from a cranberry sauce tin and repurposing it as a vase for flowers and fall leaves. Bock adds that dining room table décor should be kept to a minimum, since you'll need space for your food. You don't have to have "big chargers and five plates and three different glasses, plus all of your Thanksgiving food on the table," Bock said. If you do have flowers or a centerpiece in the middle of the table, keep it low, Cope advised. "That way, you can actually see the person who's across the table from you." Tableware and tablecloths might be in fall colors, so they can be repurposed throughout the season. Water glasses or wine goblets could be amber-toned, Bock suggests. Well in advance of your guests' arrival, think critically about the setup of your home. Don't be afraid to rearrange your furniture so your guests move to different areas and don't all congregate in your kitchen. "You want to make sure that there are areas where people can sit and chat, watch the parade or just hang out together," Bock said. Set up a drinks station and an hors d'oeuvres station in different parts of the house, Bock suggests. Though, she admits, "I can't do that in my house because my dogs would just gobble up the hors d'oeuvres." She suggests repurposing a kitchen nook for kid seating, or as a serving area. Kobylinski might set up a half-built puzzle in a side room. She even puts out winter jackets and boots for "the gentlemen" for the moment when she urges them to go out on the porch to smoke cigars and drink brandy so they won't be underfoot. As a finishing touch, don't neglect to set the mood by using lamps around the room instead of harsh overhead lights. Putting out tapers or tea candles establishes an intimate feeling. "That just leans into the cozy fall vibe," Cope said of low lighting. But don't use scented candles, Bock warns. Or a smelly flower arrangement. "That can overwhelm you when you're eating," Bock said. Putting on a favorite music playlist can set the mood and take away self-consciousness, especially early in the evening. The most important thing on Thanksgiving is simply for everyone to enjoy each other's company. A little advance preparation can help you, the host, stay relaxed throughout the evening so you can interact with your guests. As Bock advised, "Keep it simple for Thanksgiving." Let friendship and fellowship be the stars of the show. Tommy Tindall, NerdWallet The 98th Macy's Thanksgiving Day Parade coverage is slated from 8:30 a.m. to 12 p.m. EST Thursday, Nov. 28. This year's event will feature 28 clown crews, 26 floats, 16 giant balloons, 11 marching bands, five performance groups, three "baloonicles"—cold-air inflatables driven down the parade route, and numerous performers.Stacker curated a selection of photographs from the past century of the Macy's Thanksgiving Day Parade to help illustrate the history of the iconic event.The parade in New York City, presented by department store chain Macy's, was first held in 1924 under the heading "Macy's Christmas Parade" to promote holiday sales and spotlight the newly expanded and, at the time, largest in the world Herald Square store in Manhattan. The success of the event led organizers to turn the spectacle into an annual tradition. Each year, the parade ends outside the same Herald Square Macy's location.The event has been televised nationally since 1953 on NBC.The parade at first featured Central Park Zoo animals escorted by Macy's employees and professional entertainers for 6 miles from 145th Street in north Manhattan's Harlem to Macy's. A quarter of a million onlookers lined the streets. Real animals were replaced with balloons in 1927; that same year, the name of the event was changed to Macy's Thanksgiving Day Parade.The longest-running parade float is the event's unofficial mascot, Tom Turkey. Tom features moving wings, head, and eyes and usually functions as the lead float in the parade. Bringing up the caboose in virtually all the parades is Santa Claus who ushers in the holiday shopping season with his arrival at Macy's Herald Square.The parade offers a glimpse into pop culture of the time, from beloved children's entertainment to hit Broadway shows and musical acts. The Radio City Rockettes, formed in 1925, have performed in the parade annually since 1957.In 1933, the outside temperature was 69 degrees F, the warmest it's been; 2018 was the coldest day in parade history at 19 degrees F.In 2022, for the first time, the event featured a trio of women hosts. Today, more than 44 million people tune in to watch the parade. Keep reading to learn more about the parade's history and see some iconic shots of the event.You may also like: Game on: The booming growth of online gaming Eugene Gologursky // Getty Images for Macy's, Inc. In Macy's first Thanksgiving parade, Santa Claus sat atop a float pulled by a team of horses down Broadway. That year floats, bands, and Central Park Zoo animals were featured in the procession.At the parade's end, Santa Claus was crowned "King of the Kiddies" on Macy's balcony at the 34th Street entrance. Macy's quickly announced the parade would be an annual event. Bettmann // Getty Images The large balloons that replaced live zoo animals in 1927 were filled with regular air and had no release valves—they were simply let go to pop in the air following the parade. 1928 marked the first year of Macy's inflating balloons with helium to allow them to float. They were also outfitted with valves so the helium could gradually escape rather than waiting for the balloon to inevitably pop, and featured a return address so anyone who found them could return them and receive a reward.In this photo from 1928, a 35-foot fish and 60-foot-long tiger were featured prominently in the parade. A $100 prize was offered for each balloon recovered after its release. Underwood Archives // Getty Images The Thanksgiving parade enjoyed rapid growth throughout the 1930s, with more than 1 million revelors lining the parade route in 1933. In this 1931 photo, a giant hippopotamus balloon makes its way down Broadway. A blue hippo balloon—possibly this one—released after the parade was still at large several days later, thought to be somewhere over the Atlantic Ocean. Bettmann // Getty Images In this image, the Felix the Cat balloon is led down Broadway by its four handlers tailed by Terrible Turk and Willie Red Bird. The original Felix the Cat character balloon made its parade debut in 1927, but was destroyed after its post-parade release by a high tension wire in 1931. The Terrible Turk also was destroyed the same year by an electric sign.In 1932, Macy's Tom Cat balloon got stuck in the propeller of a plane when the aviator flying the plane tried recovering the balloon for a reward. While the plane eventually landed safely, that event marked the final year of releasing balloons after the parades and offering prizes for their return to Macy's. George Rinhart/Corbis via Getty Images Pinnochio, Tin Man, and Uncle Sam make their way along the parade route in 1939. Mickey Mouse made his debut five years earlier with a balloon designed in part by Walt Disney; Mickey's handlers were also dressed as mice. New iterations of Mickey appeared over the next 70 years as the character evolved.The Macy's Thanksgiving Day Parade was canceled from 1942-1944 because of supply shortages during World War II, namely helium and rubber. Festivities returned in 1945. The Christmas classic "Miracle on 34th Street" was released in 1947 and prominently features actual footage from the 1946 parade. 1948 marked the parade's first network television broadcast.You may also like: Legendary interior designers from every decade of the 20th century Camerique // Getty Images The 23rd annual Macy's Thanksgiving Day Parade was held Nov. 24, 1949. In this photo, a teddy bear makes its way through Times Square. This parade marked the second appearance for the bear. Other balloons made their debut: Freida the Dachshund, Howdy Doody on the Flying Trapeze, and Macy's Hobo Clown. Bettmann // Getty Images Throngs of onlookers pack the sidewalks in Manhattan's Times Square during this 1955 parade. Mighty Mouse, an animated superhero created by Terrytoons, is seen in the back left of the photo. Mighty Mouse made his debut in the Thanksgiving Day parade in 1951; he appeared in 80 short films between 1942-1961. Bettmann // Getty Images Popeye makes his way through Times Square in the 1959 parade. A year earlier, another helium shortage meant balloons were inflated with air and hung from construction cranes to make their way through the parade route.Also in 1958, the first celebrity performances were added with the Benny Goodman sextet. Live music proved a challenge technically and logistically. The parade was transitioning to the now-familiar lip syncing by 1964. Bettmann // Getty Images The iconic peacock float makes its debut in this photo of the 1961 Macy's Thanksgiving Day Parade. That same year, Miss Teenage America Diane Lynn Cox appeared in princess attire sharing a float with "Prince Charming" actor Troy Donahue.You may also like: Baltimore buried its urban streams—now an artist is bringing one back William Lovelace/Daily Express/Hulton Archive // Getty Teen performers appear in classic roller skates in this image from the 1961 Macy's Thanksgiving Day Parade. The sign above the skaters reads "Macy's presents A Fantasy of Christmas in New York." Archive Photos/Getty Images A Bullwinkle Moose balloon floats down Broadway in this 1972 photograph of the parade. The 46th annual parade featured five firsts for floats: Alphabet Blocks, Snow Mountain, Windmill, Curious George, and Santa's Holiday Home. Stan Wolfson/Newsday RM via Getty Images A solo tortoise float makes its way down the street near Columbus Circle in this 1974 parade photo. Not pictured is the accompanying hare. This marked the seventh appearance of the duo. Bill Senft // Newsday RM via Getty Images Woody Woodpecker greets the crowd as he floats past One Times Square during the 63rd annual Macy's Thanksgiving Day Parade in 1989. In the coming years, safety concerns troubled '90s-era parades—namely the wind.Strong gusts in 1993 pushed a Sonic the Hedgehog balloon into a Columbus Circle lamppost that broke and hurt a child and off-duty police officer. Four years later, intense winds caused a Cat in the Hat balloon to hit a lamppost, hurling debris into the air that fractured the skull of a spectator who spent 24 days in a coma. The incident, among others, led then-New York City Mayor Rudy Giuliani to form a task force. Bettmann // Getty Images The Soaring Spirit Canoe float, pictured here in 1995, made its debut in the parade in 1986. Popular '90s balloons included Bart Simpson, Cat in the Hat, and The Rugrats. Evan Agostini/Liaison // Getty Images New York City first responders carry two American flags during the Nov. 22, 2001, 75th Anniversary of Macy's Thanksgiving Day Parade, which was also held on the heels of 9/11. They honored those killed in the Sept. 11 terrorist attacks that year. New Yorkers crowded the streets to watch the parade, which featured 15 giant balloons and marching bands that all added an air of patriotism to the event. STAN HONDA/AFP via Getty Images Dora the Explorer makes her balloon debut in this 2005 photo. That same year, the M&M's chocolate candies balloon collided with a streetlight in Times Square, and debris from it injured two siblings. TIMOTHY A. CLARY/AFP via Getty Images A woman dressed in an elf costume sprinkles spectators with confetti in Times Square during Macy's 85th Thanksgiving Day parade on Nov. 24, 2011. Sonic the Hedgehog and Julius the sock monkey, which was created by Paul Frank, made their balloon entrances that year.You may also like: 5 tips for making your next event more affordable Michael Nagle // Getty Images Snoopy and Woodstock made their way along the 89th annual Macy's Thanksgiving Day Parade route Nov. 26, 2015. To date, Snoopy boasts the most years flown as a character balloon in the event. James Devaney/WireImage // Getty Images In this 2016 photo, spectators like this one recorded videos of the parade on their phones. More than 24 million people were estimated to have streamed the parade that year on TV. Noam Galai // Getty Images The Pikachu balloon floats down Central Park West for its fourth time during the 91st annual Macy's Thanksgiving Day Parade in 2017. That year's lineup featured 1,100 cheerleaders and dancers, more than 1,000 clowns, 28 legacy balloons, 26 floats, 17 giant helium balloons, 12 marching bands, and six performance groups. Dia Dipasupil // Getty Images Performers in this photo prepare at the 94th annual Macy's Thanksgiving Day Parade on Nov. 26, 2020. The event was one of few public occasions to be kept on schedule during the COVID-19 pandemic, albeit in a tempered manner. Much of the performances were pre-taped and the parade route was massively reduced. Participants wore masks and balloon handlers were cut by nearly 90%. Eugene Gologursky // Getty Images for Macy's Inc. Santa Claus celebrates at the 97th annual Macy's Thanksgiving Day Parade in this photo from Nov. 23, 2023. First-time giant balloons included Beagle Scout Snoopy, Leo (Netflix), Monkey D. Luffy, Po from "Kung Fu Panda," and The Pillsbury Doughboy.Copy editing by Lois Hince.You may also like: From the Roman Empire to your therapist's office: The history of the chaise lounge James Devaney // Getty Images Macy's original character The Giant Spaceman made his debut in 1952's parade, measuring 70 feet long and 40 feet wide and weighing 600 pounds. More than 25 gallons of paint went into painting the astronaut.An estimated 2.25 million people lined the streets for the festivities that year. Bettmann // Getty Images This 1961 photo shows shoulder-to-shoulder parade onlookers at the Macy's Thanksgiving Day Parade. The year marks the first balloon featuring Bullwinkle Moose and the first year for floats with Pinocchio, The Racetrack Grandstand, Cinderella, Peacock, Ferris Wheel, Brigadoon, Meet the Mets, and Santa's Sleigh.Several years later, in 1968, Macy's creative team figured out how to design floats up to 40 feet tall and 28 feet wide that could fold into 12.5-by-8-foot boxes for strategic transportation from New Jersey to Manhattan via the Lincoln Tunnel. William Lovelace/Express // Getty Images A giant inflatable balloon of Kermit the Frog makes its way down the 1982 parade route in this photo. The parade marked Kermit's sixth appearance. First-time balloons included Olive Oyl and Woody Woodpecker.You may also like: Far from making their last calls, LGBTQ+ bars evolve to imagine a new world Bettmann // Getty Images
Established by Volkswagen in 2022, PowerCo is committed to ramp-up global battery cell production. PowerCo oversees international factory operations, advances in cell technology, and vertical integration of the battery value chain. PowerCo has identified three gigafactory locations - Salzgitter in Germany, Valencia in Spain, and St. Thomas in Canada - with a combined capacity of up to 200 GWh/year. NOVONIX and PowerCo previously announced the signing of a non-exclusive Testing and Development Agreement in March 2024. NOVONIX's Riverside facility is poised to become the first large-scale production site dedicated to high-performance synthetic graphite for the battery sector in North America and is slated to begin commercial production in 2025, with plans to grow output to 20,000 tonnes per annum ("tpa”) to meet current customer commitments. Previously, the Company announced the U.S. Department of Energy ("DOE”) Office of Manufacturing and Energy Supply Chains ("MESC”) awarded the Company a US$100 million grant and was selected for a US$103 million investment tax credit towards the funding of the Riverside facility. The Company is also progressing plans to build a second production facility, in the southeastern United States, that will have an initial capacity of 30,000 tpa and plans to expand that facility to 75,000 tpa. NOVONIX remains in discussions with the DOE Loan Program Office ("LPO”) for an Advanced Technology Vehicles Manufacturing Program loan to support the construction of this new production facility. NOVONIX's current plans call for total production to increase to at least 150,000 tpa of synthetic graphite material to accommodate anticipated customer demand. Key Deal Terms About NOVONIX NOVONIX is a leading battery technology company revolutionizing the global lithium-ion battery industry with innovative, sustainable technologies, high-performance materials, and more efficient production methods. The Company manufactures industry-leading battery cell testing equipment, is growing its high-performance synthetic graphite material manufacturing operations, and has developed a patented all-dry, zero-waste cathode synthesis process. Through advanced R&D capabilities, proprietary technology, and strategic partnerships, NOVONIX has gained a prominent position in the electric vehicle and energy storage systems battery industry and is powering a cleaner energy future. To learn more, visit us at www.novonixgroup.com or on LinkedIn and X . For NOVONIX Limited Scott Espenshade, [email protected] (investors) Stephanie Reid, [email protected] (media) Cautionary Note Regarding Forward-Looking Statements This communication contains forward-looking statements about the Company and the industry in which we operate. Forward-looking statements can generally be identified by use of words such as "anticipate,” "believe,” "contemplate,” "continue,” "could,” "estimate,” "expect,” "intend,” "may,” "plan,” "potential,” "predict,” "project,” "should,” "target,” "will,” or "would,” or other similar expressions. Examples of forward-looking statements in this communication include, among others, statements we make regarding meeting our target production capacity and scaling of production at our Riverside facility, our plans to build a new production facility and achieve initial and total production capacities, our efforts to finance this new production facility with a loan from the LPO, our estimate of future anticipated North American graphite demand and our plan to be a significant supplier of high-performance synthetic graphite to the North American market. We have based such statements on our current expectations and projections about future events and trends that we believe may affect our financial condition, results of operations, business strategy and financial needs. Such forward-looking statements involve and are subject to known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Such factors include, among others, the timely deployment and scaling of our furnace technology, our ability to meet the technical specifications and demand of our existing and future customers, including PowerCo, the accuracy of our estimates regarding market size, expenses, future revenue, capital requirements, needs and access for additional financing, the availability and impact and our compliance with the applicable terms of government support, including the DOE MESC grant and, if obtained, the LPO loan, our ability to obtain patent rights effective to protect our technologies and processes and successfully defend any challenges to such rights and prevent others from commercializing such technologies and processes, and regulatory developments in the United States, Australia and other jurisdictions. These and other factors that could affect our business and results are included in our filings with the U.S. Securities and Exchange Commission ("SEC”), including the Company's most recent annual report on Form 20-F. Copies of these filings may be obtained by visiting our Investor Relations website at www.novonixgroup.com or the SEC's website at www.sec.gov . Forward-looking statements are not guarantees of future performance or outcomes, and actual performance and outcomes may differ materially from those made in or suggested by the forward-looking statements contained in this communication. Accordingly, you should not place undue reliance on forward-looking statements. Any forward-looking statement in this communication is based only on information currently available to us and speaks only as of the date on which it is made. We undertake no obligation to update any forward-looking statement, whether written or oral, that may be made from time to time, whether as a result of new information, future developments or otherwise, except as required by law.Villanova is headed back to the FCS Playoffs for the second straight year, earning the 11th seed in the 24-team field on Sunday. Villanova (9-3) will host Eastern Kentucky (8-4) on Saturday. Kickoff is at 2 p.m. The winner gets a trip to San Antonio to take on No. 6 seed Incarnate Word, which received a bye. The Wildcats, who defeated Delaware 38-28 to ensure their playoff status and hosting privileges, are in the playoffs for the third time in four years. It’s the first time they’ve made the playoffs in consecutive seasons since 2009-10. Villanova won the national title in 2009. Since 1989, Villanova has made the playoff field on 16 occasions, with a lifetime 14-14 record. Saturday’s win over Delaware was Villanova’s 15th straight home win. Villanova garnered the No. 8 seed last year, defeating Youngstown State in the first round before falling at eventual national champion South Dakota State.
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Are you a fan of 'The Agency,' who simply can't wait for the next installment? If yes, then, we have a piece of great news for you. After the record-breaking debut on November 26 with lovely user reviews, ‘The Agency’ has announced its renewal for a second season. This fictional spy drama managed to draw over 5 million views across all the platforms. ‘The Agency’ is adapted from the French acclaimed series ‘ Le Bureau des Légendes ’ created by Eric Rochant. The French series aired from 2015 to 2020, consisting of 5 seasons. The Agency revolves around a covert CIA agent whose mission is abruptly ended and finds his love whom he left behind back at London Station. Their romance reignites, hurling them into the game of international intrigue. The renewal of a second season is announced even though the finale episode of season 1 is yet to air until January. The Agency’s super-talented cast consists of Michael Fassbender, Jeffery Wright, Richard Gere, Katherine Waterhouse, Harriet Sansom Harris, Ambreen Razia, John Magaro, and Saura Lightfoot-Leon, among many others. Currently, the weekly episodes are ongoing on the OTT platforms but what you can expect is a deep dive into the storyline with office politics, secret missions, and expansions in relationships and motives. Increased tension with new challenges or villains would add the perfect mixture of drama required to escalate the situation.