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In this article GAP Follow your favorite stocks CREATE FREE ACCOUNT People walk past an Old Navy store on Fulton Street on April 11, 2024 in Downtown Brooklyn in New York City. Michael M. Santiago | Getty Images Hurricanes and unseasonably warm weather hit sales at Gap during its fiscal third quarter, but the apparel company still posted better-than-expected results, leading it to raise its annual guidance for a third time this year. Gap, which runs Old Navy, Banana Republic, Athleta and its namesake banner, is now expecting fiscal 2024 sales to be up between 1.5% and 2%, compared with previous guidance of "up slightly." That's ahead of the 0.4% growth that LSEG analysts had expected, and bodes well for the all-important holiday shopping season, which is now underway. The company is also anticipating gross margins and operating income will grow more than it previously expected. Shares surged about 13% in extended trading. Here's how the nation's largest specialty apparel retailer performed compared with what Wall Street was anticipating, based on a survey of analysts by LSEG: Earnings per share: 72 cents vs. 58 cents expected Revenue: $3.83 billion vs. $3.81 billion expected Gap's reported net income for the three-month period that ended Nov. 2 was $274 million, or 72 cents per share, compared with $218 million, or 58 cents per share, a year earlier. Sales rose to $3.83 billion, up about 2% from $3.78 billion a year earlier. Across Gap's business, unseasonably warm weather affected sales by about 1 percentage point during the quarter, while storms and hurricanes led overall store sales to fall by 2%, CEO Richard Dickson told CNBC in an interview. "We had unusual circumstances, hurricanes, storms that led to almost 180 closures at the peak of the impact," said Dickson, adding the storms affected Old Navy, Gap's largest brand by revenue, the most. As soon as the weather turned around, sales "rebounded" and the holiday shopping season is off to a "strong start" so far, said Dickson. "We are energized about the holiday. Our teams are really focused on executing our plans. If we compare ourselves to where we were last year, our brands are in a much more pronounced place than they were last year," he said. "We've got stronger brand identities and we're more practiced in our playbook that we talk a lot about, driving better product, better pricing, more relevance, better consumer experience and excellence in execution." Since Dickson took the helm of Gap a little over a year ago, he's worked to turn around the business after years of declines. Under his direction, the company has leaned into nostalgic marketing and celebrity partnerships to reclaim cultural relevance. Sales have grown for the last four quarters in a row, but the company is still smaller than it once was, and critics say it needs to do more to fix its product assortment and drive full-price selling. Here's a closer look at each brand's performance: Old Navy: Gap said sales at its largest brand grew 1% to $2.2 billion, while comparable sales were flat, shy of the 0.9% growth that analysts had expected, according to StreetAccount. Old Navy's kids category was particularly affected by the warmer weather, said Dickson. Gap: Gap's eponymous banner grew 1% to $899 million during the quarter, while comparable sales were up 3% — better than the 2.3% growth Wall Street expected, according to StreetAccount. The brand has seen four straight quarters of positive comparable sales and is benefiting from better marketing and product, the company said. Banana Republic: The trendy workwear line grew sales 2% to $469 million while comparable sales fell 1%, a bit worse than the 0.8% drop that StreetAccount had expected. The brand has worked to turn around its men's business, which drove results during the quarter. Overall, it is still focused "on fixing the fundamentals," the company said. Athleta: The athleisure arm of Gap's empire grew sales by 4% to $290 million while comparable sales were up 5%. The results weren't comparable to estimates. In the year-ago period, comparable sales were down 19% at Athleta. Under its new CEO, former Alo Yoga boss Chris Blakeslee, the brand has managed to turn things around.
The Asia Pacific ICT Alliance (APICTA) Awards Night 2024 was held last night in Gadong. Minister of Transport and Infocommunications Pengiran Dato Seri Setia Shamhary bin Pengiran Dato Paduka Haji Mustapha, the guest of honour, presented prizes to winners of the Cross Categories and Technology Awards. Last night’s highlight was the announcement of the APICTA Awards 2024 winners and the presentation of trophies and certificates to over 120 recipients, comprising winners, runners-up, merit awardees and People’s Choice Awards honorees. Among the winners were Progresif Sdn Bhd’s Progresif Ding! in Banking, Insurance & Finance category and Nextacloud Technologies Sdn Bhd’s Bloodkad in Community & Indigenous Services category. AIquatic Enterprise was first runner-up in Internet of Things category and second runner up for Research and Development Project of the Year as well as Agriculture, Supply and Sustainability category. Datastream Digital Sdn Bhd was second runner up in Community & Indigenous Services category; Ma’had Islam Brunei received merit award for Junior Student category; Chung Hwa Middle School, Bandar Seri Begawan was second runner up and received merit award for Senior Student Projects: Applications category; Universiti Islam Sultan Sharif Ali received merit award in Tertiary Student Projects: Applications category; and the Ministry of Health was second runner up in Business Data Analytics category. Minister of Transport and Infocommunications Pengiran Dato Seri Setia Shamhary bin Pengiran Dato Paduka Haji Mustapha in a group photo at the Asia Pacific ICT Alliance (APICTA) Awards Night 2024. PHOTO: RAFI ROSLI ABOVE & BELOW: The minister presents trophies to winners of the Business Data Analytics; Artificial Intelligence; and Research & Development Project of the Year categories. PHOTO: RAFI ROSLI PHOTO: RAFI ROSLI PHOTO: RAFI ROSLI ABOVE & BELOW: Nextacloud Technologies Sdn Bhd winning the Community & Indigenous Services category; and Progresif Sdn Bhd winning the Banking, Insurance & Finance category. PHOTO: RAFI ROSLI PHOTO: RAFI ROSLI The event saw over 270 entries from over 180 participating teams across APICTA member economies. The entries were judged in 24 categories, including sub-categories under Consumer; Inclusions & Community Services; Industrial; Business Services; Public Sector & Government; Students; as well as Cross Categories; and Technology Awards. The People’s Choice Awards under the Senior Student and Tertiary Student Project categories were among the most celebrated accolades, where winners were determined by the highest number of public votes. These awards underscore the significant role of youth in driving innovation and engaging with communities through impactful technological solutions. APICTA Awards 2024 was officially launched by His Royal Highness Prince Haji Al-Muhtadee Billah ibni His Majesty Sultan Haji Hassanal Bolkiah Mu’izzaddin Waddaulah, the Crown Prince and Senior Minister at the Prime Minister’s Office, during the Welcoming Gala on Wednesday evening. The APICTA Awards is held annually as a platform for Asia-Pacific regional competition in innovative digital products and solutions, recognising their competitiveness and potential at the Asia-Pacific level. Brunei Darussalam had the privilege of hosting the APICTA Awards 2024 this year, organised by the Ministry of Transport and Infocommunications in collaboration with the Authority for Info-communications Technology Industry of Brunei Darussalam (AITI) and InfoCom Federation Brunei (IFB). Last night’s event also saw the handing over of the APICTA Awards to Chinese Taipei, the host for APICTA 2025. – Lyna Mohamad
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Baseus 240W, 5-port smart USB-C GaN desktop charger. Adrian Kingsley-Hughes/ZDNET What's the deal? You can pick up the Baseus 240W at a bargain price this Black Friday -- there's 20% off the regular price and a further $20 thanks to an on-page coupon, brining the total down to $140. ZDNET's key takeaways Baseus 240W, 5-port smart USB-C GaN desktop charger, available from Amazon Powerful, offers USB-C, USB-A, and DC outputs, and can charge two laptops simultaneously. Big, heavy, and the four-foot power cord means this charger isn't well suited to travel use. Gallium nitride technology (GaN) has revolutionized chargers, allowing them to be smaller, more powerful, and to run cooler. Top-tier manufacturers are using this technology in their latest chargers, equipping them with a variety of ports and features. Also: I went hands-on with Apple's M3 MacBook Air and 3 features stood out the most One such charger is the Baseus 240W, 5-port smart USB-C GaN desktop charger with LED display. This is a beast of a charger that is perfect on any gamer or professional's desk. Baseus 240W, 5-port smart USB-C GaN desktop charger features Charge two laptops simultaneous with a maximum power of 140W for one laptop and 100W for the other 3 x USB-C (140W max), 1 x USB-A (30W max), 1 x DC port (240W max) Immersive, edge-to-edge LCD display Advanced cooling technology that makes use of glue-fill techniques and graphene Bluetooth control using Baseus smart app 4-foot power cord Includes 240W USB-C to... Adrian Kingsley-HughesWASHINGTON (AP) — One year after the Jan. 6, 2021 , U.S. Capitol attack, Attorney General Merrick Garland said the Justice Department was committed to holding accountable all perpetrators “at any level” for “the assault on our democracy.” That bold declaration won't apply to at least one person: Donald Trump. Special counsel Jack Smith's move on Monday to abandon the federal election interference case against Trump means jurors will likely never decide whether the president-elect is criminally responsible for his attempts to cling to power after losing the 2020 campaign. The decision to walk away from the election charges and the separate classified documents case against Trump marks an abrupt end of the Justice Department’s unprecedented legal effort that once threatened his liberty but appears only to have galvanized his supporters. The abandonment of the cases accusing Trump of endangering American democracy and national security does away with the most serious legal threats he was facing as he returns to the White House. It was the culmination of a monthslong defense effort to delay the proceedings at every step and use the criminal allegations to Trump's political advantage, putting the final word in the hands of voters instead of jurors. “We always knew that the rich and powerful had an advantage, but I don’t think we would have ever believed that somebody could walk away from everything,” said Stephen Saltzburg, a George Washington University law professor and former Justice Department official. “If there ever was a Teflon defendant, that’s Donald Trump.” While prosecutors left the door open to the possibility that federal charges could be re-filed against Trump after he leaves office, that seems unlikely. Meanwhile, Trump's presidential victory has thrown into question the future of the two state criminal cases against him in New York and Georgia. Trump was supposed to be sentenced on Tuesday after his conviction on 34 felony counts in his New York hush money case , but it's possible the sentencing could be delayed until after Trump leaves office, and the defense is pushing to dismiss the case altogether. Smith's team stressed that their decision to abandon the federal cases was not a reflection of the merit of the charges, but an acknowledgement that they could not move forward under longstanding Justice Department policy that says sitting presidents cannot face criminal prosecution. Trump's presidential victory set “at odds two fundamental and compelling national interests: On the one hand, the Constitution’s requirement that the President must not be unduly encumbered in fulfilling his weighty responsibilities . . . and on the other hand, the Nation’s commitment to the rule of law,” prosecutors wrote in court papers. The move just weeks after Trump's victory over Vice President Kamala Harris underscores the immense personal stake Trump had in the campaign in which he turned his legal woes into a political rallying cry. Trump accused prosecutors of bringing the charges in a bid to keep him out of the White House, and he promised revenge on his perceived enemies if he won a second term. “If Donald J. Trump had lost an election, he may very well have spent the rest of his life in prison,” Vice President-elect JD Vance, wrote in a social media post on Monday. “These prosecutions were always political. Now it’s time to ensure what happened to President Trump never happens in this country again.” After the Jan. 6 attack by Trump supporters that left more than 100 police officers injured, Republican leader Mitch McConnell and several other Republicans who voted to acquit Trump during his Senate impeachment trial said it was up to the justice system to hold Trump accountable. The Jan. 6 case brought last year in Washington alleged an increasingly desperate criminal conspiracy to subvert the will of voters after Trump's 2020 loss, accusing Trump of using the angry mob of supporters that attacked the Capitol as “a tool” in his campaign to pressure then-Vice President Mike Pence and obstruct the certification of Democrat Joe Biden's victory. Hundreds of Jan. 6 rioters — many of whom have said they felt called to Washington by Trump — have pleaded guilty or been convicted by juries of federal charges at the same courthouse where Trump was supposed to stand trial last year. As the trial date neared, officials at the courthouse that sits within view of the Capitol were busy making plans for the crush of reporters expected to cover the historic case. But Trump's argument that he enjoyed absolute immunity from prosecution quickly tied up the case in appeals all the way up to the Supreme Court. The high court ruled in July that former presidents have broad immunity from prosecution , and sent the case back to the trial court to decide which allegations could move forward. But the case was dismissed before the trial court could get a chance to do so. The other indictment brought in Florida accused Trump of improperly storing at his Mar-a-Lago estate sensitive documents on nuclear capabilities, enlisting aides and lawyers to help him hide records demanded by investigators and cavalierly showing off a Pentagon “plan of attack” and classified map. But U.S. District Judge Aileen Cannon dismissed the case in July on grounds that Smith was illegally appointed . Smith appealed to the Atlanta-based 11th U.S. Circuit Court of Appeals, but abandoned that appeal on Monday. Smith's team said it would continue its fight in the appeals court to revive charges against Trump's two co-defendants because “no principle of temporary immunity applies to them.” In New York, jurors spent weeks last spring hearing evidence in a state case alleging a Trump scheme to illegally influence the 2016 election through a hush money payment to a porn actor who said the two had sex. New York prosecutors recently expressed openness to delaying sentencing until after Trump's second term, while Trump's lawyers are fighting to have the conviction dismissed altogether. In Georgia, a trial while Trump is in office seems unlikely in a state case charging him and more than a dozen others with conspiring to overturn his 2020 election loss in the state. The case has been on hold since an appeals court agreed to review whether to remove Fulton County District Attorney Fani Willis over her romantic relationship with the special prosecutor she had hired to lead the case. Associated Press reporter Lisa Mascaro in Washington contributed.UNIVERSITY PARK — Few bettors would have lined up for the proposition of Penn State marching to a lopsided victory in the College Football Playoff with under 150 passing yards and zero touchdowns through the air. Yet, while quarterback Drew Allar was limited to 127 passing yards and did not throw a touchdown for the first time in six weeks, the No. 6 Nittany Lions still managed to dominate No. 11 SMU, 38-10, on Saturday at Beaver Stadium. Making up for a weak pass game was the defense's three interceptions, two of which were returned for touchdowns, as well as Penn State running the ball with near impunity. After the win, which sent the Nittany Lions to the CFP quarterfinals, where they'll meet No. 3 Boise State on Tuesday in the Fiesta Bowl, Allar shouldered some of the blame for the modest offensive output. "At the end of the day, we weren't executing the play calls that were there," Allar said. "I had plenty of missed throws in the first quarter that I need to hit and get the ball to the playmakers in space and allow them to show off their abilities. It's something that we have to get better at. ... We'll get those things fixed, no doubt about it." Coordinator Andy Kotelnicki was more forgiving of Allar. "Yes, weather conditions (weren't) great, not optimal to rip it around," Kotelnicki said. "That's playoff football. That's the way it is. But there's no excuses to really not execute in any capacity. But I will tell you one thing that's not going to show up on the stats is how many times (Allar) is our leader and the straw that stirs the drink." The overwhelming defensive performance and solid outings from tailbacks Kaytron Allen and Nick Singleton more than made up for the passing game. The junior running backs split the load, with Allen rushing 11 times for 70 yards and two touchdowns, compared to Singleton's 14 carries for 90 yards and a score. Both averaged 6.4 yards per carry, gradually wearing down an SMU run defense that arrived in Happy Valley ranked in the top 20 nationally. "(Singleton and Allen) are fast, they're big, they're both 220-pound backs and they're violent," said coach James Franklin. "They're playing behind an offensive line that takes a ton of pride in doing their jobs for them, so it's cool. I love to see all these guys get opportunities to make plays, win and have success because they work so hard." The day certainly did not begin on a domineering offensive note for the Nittany Lions, who punted on their first two possessions, running 11 total plays for 35 yards. In the cold, windy environment at Beaver Stadium, Franklin opted to go for a first-quarter fourth-and-13 from SMU's 29-yard line instead of sending Ryan Barker out for a field goal that would have been about 47 yards. That attempt was unsuccessful, as was a fourth-and-2 from Penn State's 19-yard line in the second quarter. However, the Nittany Lions' early offensive struggles proved to be a nonissue, with the defensive touchdowns and interceptions providing a comfortable cushion. Penn State eventually woke up offensively, embarking on four effective scoring drives for 24 points in the second and third quarters before finishing the game with 325 total yards. "Took us a little time to get going on offense, specifically in the run game," Franklin said. "But then we got it going. ... We got a team win, led from our defense in the beginning of the game, but by the end of the game, it was a team win: offense, defense and special teams."
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Gary Lineker has joked about his Match Of The Day departure as he hosted the show for the first time since confirming he is to step down. The BBC announced last week that Lineker will leave his role as host, which he has held since 1999, at the end of the current football season. Saturday’s episode of the football highlights programme opened with pundit Alan Shearer, Lineker’s fellow former England striker, saying direct to the camera: “All good things must come to an end.” Lineker then appeared, and said: “Yes Alan – Lee Carsley’s England reign is over. It’s back to business in the Premier League.” Despite his exit, the 63-year-old will remain with the BBC after both parties agreed to a contract extension through to the 2026 World Cup. Lineker will host BBC Sport’s coverage of the FA Cup in the 2025-26 campaign and continue presenting the Match Of The Day: Top 10 podcast for BBC Sounds, which will also host The Rest Is Football podcast, produced by Lineker’s Goalhanger Podcasts, with one episode released on the platform each week. The BBC has said future plans for Match Of The Day would be “announced in due course” with Mark Chapman, Alex Scott, Kelly Cates and Gabby Logan among those being tipped as candidates to replace him. Following the announcement, Lineker said it “has been an absolute joy and privilege to present such an iconic show for the BBC, but all things have to come to an end” on his podcast, The Rest Is Football. He added: “I bowed out in my football career when I felt it was the right time. I feel this is now the right time. “I think the next contract they’re looking to do Match Of The Day slightly differently, so I think it makes sense for someone else to take the helm.” Lineker has hosted Match Of The Day since 1999 and will have presented the show for more than a quarter of a century when he leaves in May 2025.
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Naheed Nenshi is still looking to find his feet — and a seat in the legislature — after six months on the job as leader of Alberta’s NDP. “I really am still getting my skis under me,” the former Calgary mayor said of his new gig in a recent year-end interview. Without a seat in the house, he’s been watching the cut and thrust of the provincial legislature from the sidelines, and he’s trying new things. The Opposition NDP has become more targeted in its media messaging and its approach to debates in the house, in part to avoid the trap of responding to the United Conservative Party government with daily outrage, he said. “It’s almost been useful for me to have the freedom to go talk to the nurses or the teachers or the parents or the cops, rather than be sitting in that room watching really, really bad acting and really terrible drama on the other side of the aisle,” he said. Still, the question of where and when Nenshi might get a seat in that hostile theatre is likely to continue to dog him in 2025. This year was bookended by former Rachel Notley announcing in January her resignation as party leader and recently that she would leave the legislature Dec. 30. In June, Nenshi took the helm. With Notley’s Edmonton-Strathcona seat soon to be vacant, Nenshi could look to get elected in the capital, where he now spends much of his time. He said he isn’t expecting Premier Danielle Smith to call a byelection before the six-month deadline to do so in June, after the house traditionally breaks for the summer. “The premier will delay the byelection to keep me out so that I can’t be part of the budget debates,” he said. In more ways than one, the NDP is still under construction. Hanging over Nenshi’s head is a steady stream of UCP attack ads accusing the provincial New Democrats of being under the thumb of Jagmeet Singh’s federal NDP. Provincial members automatically become part of the federal party, despite clear policy differences between the two, especially when it comes to the oil and gas industry. Nenshi has long said he wants to bring the federal membership issue to his party members to decide as soon as possible. The earliest NDP members could debate, and potentially change that sticking point in the party’s constitution, is in early May at the next NDP policy convention in Edmonton. There, members are also expected to steer the direction of what has largely remained a blank slate of a plan and platform. In the new year, Nenshi said the focus will continue to be on what he says has been missing from the UCP’s legislative agenda: affordability, jobs, health care, public safety and education. “These are not priorities for this government at all.” He has moved on one front by putting his former health critic, Luanne Metz, in charge of consulting on and fleshing out a health-care plan next year. “(The UCP is) making this up as they go along and we’re going to take the time to get it right,” Nenshi said. The NDP offered a few priorities in the fall. New Democrats pitched private member’s bills that aim to protect workers’ tips from being pocketed by employers, bring in cancer care delivery standards and take action on Indigenous reconciliation. A proposal to bring back school class size reporting was defeated. There are UCP policies Nenshi hopes to one day repeal, including what he calls the “cruel, hateful” legislation that restricts transgender health care and will bring in pronoun policy in schools. And, after the first full year of the government’s loosened ethics rules for political staff to accept gifts, Nenshi has another proposal. “Throw open the curtains so that we can see all of the grift and corruption that has happened under this government to make sure it’s not repeated ever,” he said.Will Browns LG Joel Bitonio retire after the season? Here’s what will help him decideRansomware attack on software supplier disrupts operations for Starbucks and other retailersDr. Manmohan Singh demise: 7-day national mourning declared in tribute to former PM, key cabinet meet on Friday
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