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ZAGREB, Croatia (AP) — Croatia’s incumbent President Zoran Milanovic won most of the votes in the first round of a presidential election on Sunday, but must face a runoff against a ruling party candidate to secure another five-year term. With nearly all of the votes counted, left-leaning Milanovic won 49% while his main challenger Dragan Primorac, a candidate of the ruling conservative HDZ party, trailed far behind with 19%. Pre-election polls had predicted that the two would face off in the second round on Jan. 12, as none of the eight presidential election contenders were projected to get more than 50% of the vote. Milanovic thanked his supporters but warned “this was just a first run.” “Let’s not be triumphant, let’s be realistic, firmly on the ground,” he said. “We must fight all over again. It’s not over till it’s over.” Milanovic is an outspoken critic of Western military support for Ukraine in its war against Russia. He is often compared to Donald Trump for his combative style of communication with political opponents. The most popular politician in Croatia, 58-year-old Milanović has served as prime minister in the past. Populist in style, he has been a fierce critic of current Prime Minister Andrej Plenković and continuous sparring between the two has lately marked Croatia’s political scene. Plenković, the prime minister, has sought to portray the vote as one about Croatia’s future in the EU and NATO. He has labeled Milanović “pro-Russian” and a threat to Croatia’s international standing. “The difference between him and Milanović is quite simple: Milanović is leading us East, Primorac is leading us West,” he said. Though the presidency is largely ceremonial in Croatia, an elected president holds political authority and acts as the supreme military commander. Milanović has criticized the NATO and European Union support for Ukraine and has often insisted that Croatia should not take sides. He has said Croatia should stay away from global disputes, though it is a member of both NATO and the EU. Milanović has also blocked Croatia’s participation in a NATO-led training mission for Ukraine, declaring that “no Croatian soldier will take part in somebody else’s war.” His main rival in the election, Primorac, has stated that “Croatia’s place is in the West, not the East.” His presidency bid, however, has been marred by a high-level corruption case that landed Croatia’s health minister in jail last month and featured prominently in pre-election debates. During the election campaign, Primorac has sought to portray himself as a unifier and Milanović as divisive. Primorac was upbeat despite such a big defeat in the first round. “I know the difference (in votes) at first sight seems very big,” said Primorac, who insisted that the center-right votes had split among too many conservative candidates. “Now we have a great opportunity to face each other one on one and show who stands for what,” he said. Sunday’s presidential election is Croatia’s third vote this year, following a parliamentary election in April and the European Parliament balloting in June.
Steelers QB Russell Wilson is spreading the wealth on offense
A lack of focus on cybersecurity could have a devastating impact on business for ship owners and managers, according to maritime technology company, SmartSea. In 2025, it is predicted that cyber-crime will cost the global economy around $10.5 trillion* With ransomware being the number one threat in the maritime industry**, SmartSea, formed by the world’s leading provider of transport communication in the aviation industry, SITA, advocates for early adoption of cyber security software as the industry moves forward with digitalisation. Julian Panter, CEO, SmartSea For an industry that traditionally has had a culture of adapting to change slowly, recent advances in technology have been embraced, helping ships to become more efficient, sustainable, and safer. With more of a reliance on emerging technology to sustain this trend however, unfortunately cyber threats will also increase. Julian Panter, CEO of Smartsea, comments:“With the emergence of AI and automation technology comes increased opportunities but also an increased threat. For example, a successful attack on an AI model that ran an autonomous ship can cause attackers to take it over completely, divert it or disrupt its course. Ransomeware attacks can also be mounted against communication systems on a ship to break the connection between it and the command centre, effectively rendering it blind. As technology evolves to reflect the future demands of the industry, it is imperative for ship owners and managers to invest in cyber security. With ever more stringent compliance measures being mandated, cyber security measures and governance will slowly become mandatory. It is therefore incumbent on companies to be prepared for the threat of a cyber-attack before it’s too late.” Source: SmartSeaFACT FOCUS: Vermont ruling does not say schools can vaccinate children without parental consentST Picks: What’s worrying about Prabowo’s foray into South China Sea claims
South Korea’s whirlwind stint in martial law jolts markets"Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam, quis nostrud exercitation ullamco laboris nisi ut aliquip ex ea commodo consequat. Duis aute irure dolor in reprehenderit in voluptate velit esse cillum dolore eu fugiat nulla pariatur. Excepteur sint occaecat cupidatat non proident, sunt in culpa qui officia deserunt mollit anim id est laborum." Section 1.10.32 of "de Finibus Bonorum et Malorum", written by Cicero in 45 BC "Sed ut perspiciatis unde omnis iste natus error sit voluptatem accusantium doloremque laudantium, totam rem aperiam, eaque ipsa quae ab illo inventore veritatis et quasi architecto beatae vitae dicta sunt explicabo. Nemo enim ipsam voluptatem quia voluptas sit aspernatur aut odit aut fugit, sed quia consequuntur magni dolores eos qui ratione voluptatem sequi nesciunt. Neque porro quisquam est, qui dolorem ipsum quia dolor sit amet, consectetur, adipisci velit, sed quia non numquam eius modi tempora incidunt ut labore et dolore magnam aliquam quaerat voluptatem. Ut enim ad minima veniam, quis nostrum exercitationem ullam corporis suscipit laboriosam, nisi ut aliquid ex ea commodi consequatur? Quis autem vel eum iure reprehenderit qui in ea voluptate velit esse quam nihil molestiae consequatur, vel illum qui dolorem eum fugiat quo voluptas nulla pariatur?" 1914 translation by H. Rackham "But I must explain to you how all this mistaken idea of denouncing pleasure and praising pain was born and I will give you a complete account of the system, and expound the actual teachings of the great explorer of the truth, the master-builder of human happiness. No one rejects, dislikes, or avoids pleasure itself, because it is pleasure, but because those who do not know how to pursue pleasure rationally encounter consequences that are extremely painful. Nor again is there anyone who loves or pursues or desires to obtain pain of itself, because it is pain, but because occasionally circumstances occur in which toil and pain can procure him some great pleasure. To take a trivial example, which of us ever undertakes laborious physical exercise, except to obtain some advantage from it? But who has any right to find fault with a man who chooses to enjoy a pleasure that has no annoying consequences, or one who avoids a pain that produces no resultant pleasure?" 1914 translation by H. Rackham "But I must explain to you how all this mistaken idea of denouncing pleasure and praising pain was born and I will give you a complete account of the system, and expound the actual teachings of the great explorer of the truth, the master-builder of human happiness. No one rejects, dislikes, or avoids pleasure itself, because it is pleasure, but because those who do not know how to pursue pleasure rationally encounter consequences that are extremely painful. Nor again is there anyone who loves or pursues or desires to obtain pain of itself, because it is pain, but because occasionally circumstances occur in which toil and pain can procure him some great pleasure. To take a trivial example, which of us ever undertakes laborious physical exercise, except to obtain some advantage from it? But who has any right to find fault with a man who chooses to enjoy a pleasure that has no annoying consequences, or one who avoids a pain that produces no resultant pleasure?" Thanks for your interest in Kalkine Media's content! To continue reading, please log in to your account or create your free account with us.VANCOUVER, British Columbia--(BUSINESS WIRE)--Dec 5, 2024-- lululemon athletica inc. (NASDAQ:LULU) today announced financial results for the third quarter of fiscal 2024, which ended on October 27, 2024. Calvin McDonald, Chief Executive Officer, stated: "Our performance in the third quarter shows the enduring strength of lululemon globally, as we saw continued momentum across our international markets and in Canada. Looking to the future, we are pleased with the start to our holiday season, and we remain focused on accelerating our U.S. business and growing our brand awareness around the world. Thank you to our dedicated teams for continuing to deliver for our guests and stakeholders." The adjusted non-GAAP financial measures below exclude asset impairment and other charges recognized in relation to lululemon Studio during the third quarter of 2023, and the related income tax effects of these items. For the third quarter of 2024, compared to the third quarter of 2023: Meghan Frank, Chief Financial Officer, stated: "Our third quarter results, which exceeded our expectations, demonstrate the ability of our teams to be agile in a dynamic operating environment. With the majority of the fourth quarter still in front of us, we are focused on deepening engagement with our guests and bringing new consumers into the brand. We are committed to delivering on our Power of Three ×2 revenue target of $12.5 billion in 2026 and look forward to all that lies ahead." Stock Repurchase Program During the third quarter of 2024, the Company repurchased 1.6 million shares of its common stock for a cost of $408.5 million. On December 3, 2024, the board of directors approved a $1.0 billion increase to the Company's stock repurchase program. Including this increase, as of December 5, 2024, the Company had approximately $1.8 billion remaining authorized on its stock repurchase program. Balance Sheet Highlights The Company ended the third quarter of 2024 with $1.2 billion in cash and cash equivalents and the capacity under its committed revolving credit facility was $393.5 million. Inventories at the end of the third quarter of 2024 increased 8% to $1.8 billion compared to $1.7 billion at the end of the third quarter of 2023. 2024 Outlook For the fourth quarter of 2024, the Company expects net revenue to be in the range of $3.475 billion to $3.510 billion, representing growth of 8% to 10%, or 3% to 4% excluding the 53rd week of 2024. Diluted earnings per share are expected to be in the range of $5.56 to $5.64 for the quarter. This assumes a tax rate of approximately 29.5%. For 2024, the Company now expects net revenue to be in the range of $10.452 billion to $10.487 billion, representing growth of 9%, or 7% excluding the 53rd week of 2024. Diluted earnings per share are now expected to be in the range of $14.08 to $14.16 for the year. This assumes a tax rate of approximately 30%. The guidance does not reflect potential future repurchases of the Company's shares. The guidance and outlook forward-looking statements made in this press release are based on management's expectations as of the date of this press release and do not incorporate future unknown impacts, including macroeconomic trends. The Company undertakes no duty to update or to continue to provide information with respect to any forward-looking statements or risk factors, whether as a result of new information or future events or circumstances or otherwise. Actual results and the timing of events could differ materially from those anticipated in these forward-looking statements as a result of risks and uncertainties, including those stated below. Power of Three ×2 The Company's Power of Three ×2 growth plan calls for a doubling of the business from 2021 net revenue of $6.25 billion to $12.5 billion by 2026. The key pillars of the plan are product innovation, guest experience, and market expansion. Conference Call Information A conference call to discuss third quarter results is scheduled for today, December 5, 2024, at 4:30 p.m. Eastern time. Those interested in participating in the call are invited to dial 1-844-763-8274 or 1-647-484-8814, if calling internationally, approximately 10 minutes prior to the start of the call. A live webcast of the conference call will be available online at: https://corporate.lululemon.com/investors/news-and-events/events-and-presentations . A replay will be made available online approximately two hours following the live call for a period of 30 days. About lululemon athletica inc. lululemon athletica inc. (NASDAQ:LULU) is a technical athletic apparel, footwear, and accessories company for yoga, running, training, and most other activities, creating transformational products and experiences that build meaningful connections, unlocking greater possibility and wellbeing for all. Setting the bar in innovation of fabrics and functional designs, lululemon works with yogis and athletes in local communities around the world for continuous research and product feedback. For more information, visit lululemon.com . Non-GAAP Financial Measures Constant dollar changes and adjusted financial results are non-GAAP financial measures. A constant dollar basis assumes the average foreign currency exchange rates for the period remained constant with the average foreign currency exchange rates for the same period of the prior year. The Company provides constant dollar changes in its results to help investors understand the underlying growth rate of net revenue excluding the impact of changes in foreign currency exchange rates. Adjusted gross profit, gross margin, income from operations, operating margin, income tax expense, effective tax rates, net income, and diluted earnings per share exclude certain inventory provisions, asset impairments, and restructuring costs recognized in relation to lululemon Studio, and the related income tax effects of these items. The Company believes these adjusted financial measures are useful to investors as they provide supplemental information that enable evaluation of the underlying trend in its operating performance, and enable a comparison to its historical financial information. Further, due to the finite and discrete nature of these items, it does not consider them to be normal operating expenses that are necessary to run the business, or impairments or disposal gains that are expected to arise in the normal course of its operations. Management uses these adjusted financial measures and constant currency metrics internally when reviewing and assessing financial performance. The Company's fiscal year ends on the Sunday closest to January 31st of the following year, typically resulting in a 52-week year, but occasionally giving rise to an additional week, resulting in a 53-week year. Fiscal 2023 was a 52-week year while 2024 will be a 53-week year. The expected net revenue increase excluding the 53rd week excludes the expected net revenue for the 53rd week of 2024. This enables an evaluation of the expected year-over-year increase in net revenue based on 52 weeks in each year. The presentation of this financial information is not intended to be considered in isolation or as a substitute for, or with greater prominence to, the financial information prepared and presented in accordance with GAAP. For more information on these non-GAAP financial measures, please see the section captioned "Reconciliation of Non-GAAP Financial Measures" included in the accompanying financial tables, which includes more detail on the GAAP financial measure that is most directly comparable to each non-GAAP financial measure, and the related reconciliations between these financial measures. The Company's non-GAAP financial measures may be calculated differently from, and therefore may not be directly comparable to, similarly titled measures reported by other companies. Forward-Looking Statements: This press release includes estimates, projections, statements relating to the Company's business plans, objectives, and expected operating results that are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. In many cases, you can identify forward-looking statements by terms such as "may," "will," "should," "expects," "plans," "anticipates," "outlook," "believes," "intends," "estimates," "predicts," "potential" or the negative of these terms or other comparable terminology. These forward-looking statements also include the Company's guidance and outlook statements. These statements are based on management's current expectations but they involve a number of risks and uncertainties. Actual results and the timing of events could differ materially from those anticipated in the forward-looking statements as a result of risks and uncertainties, which include, without limitation: the Company's ability to maintain the value and reputation of its brand; changes in consumer shopping preferences and shifts in distribution channels; the acceptability of its products to guests; its highly competitive market and increasing competition; increasing costs and decreasing selling prices; its ability to anticipate consumer preferences and successfully develop and introduce new, innovative and updated products; its ability to accurately forecast guest demand for its products; its ability to expand in light of its limited operating experience and limited brand recognition in new international markets and new product categories; its ability to manage its growth and the increased complexity of its business effectively; its ability to successfully open new store locations in a timely manner; seasonality; disruptions of its supply chain; its reliance on a relatively small number of vendors to supply and manufacture a significant portion of its products; suppliers or manufacturers not complying with its Vendor Code of Ethics or applicable laws; its ability to deliver its products to the market and to meet guest expectations if it has problems with its distribution system; increasing labor costs and other factors associated with the production of its products in South Asia and South East Asia; its ability to safeguard against security breaches with respect to its technology systems; its compliance with privacy and data protection laws; any material disruption of its information systems; its ability to have technology-based systems function effectively and grow its e-commerce business globally; climate change, and related legislative and regulatory responses; increased scrutiny regarding its environmental, social, and governance, or sustainability responsibilities; an economic recession, depression, or downturn or economic uncertainty in its key markets; global or regional health events such as the COVID-19 pandemic and related government, private sector, and individual consumer responsive actions; global economic and political conditions; its ability to source and sell its merchandise profitably or at all if new trade restrictions are imposed or existing trade restrictions become more burdensome; changes in tax laws or unanticipated tax liabilities; its ability to comply with trade and other regulations; fluctuations in foreign currency exchange rates; imitation by its competitors; its ability to protect its intellectual property rights; conflicting trademarks and patents and the prevention of sale of certain products; its exposure to various types of litigation; and other risks and uncertainties set out in filings made from time to time with the United States Securities and Exchange Commission and available at www.sec.gov , including, without limitation, its most recent reports on Form 10-K and Form 10-Q. You are urged to consider these factors carefully in evaluating the forward-looking statements contained herein and are cautioned not to place undue reliance on such forward-looking statements, which are qualified in their entirety by these cautionary statements. The forward-looking statements made herein speak only as of the date of this press release and the Company undertakes no obligation to publicly update such forward-looking statements to reflect subsequent events or circumstances, except as may be required by law. lululemon athletica inc. The fiscal year ending February 2, 2025 is referred to as "2024" and the fiscal year ended January 28, 2024 is referred to as "2023". Condensed Consolidated Statements of Operations Unaudited; Expressed in thousands, except per share amounts Third Quarter First Three Quarters 2024 2023 2024 2023 Net revenue $ 2,396,660 $ 2,204,218 $ 6,976,629 $ 6,414,175 Costs of goods sold 995,054 947,554 2,887,770 2,708,195 Gross profit 1,401,606 1,256,664 4,088,859 3,705,980 As a percentage of net revenue 58.5 % 57.0 % 58.6 % 57.8 % Selling, general and administrative expenses 909,827 842,795 2,624,212 2,407,683 As a percentage of net revenue 38.0 % 38.2 % 37.6 % 37.5 % Impairment of assets and restructuring costs — 74,501 — 74,501 Amortization of intangible assets 1,118 1,253 1,118 5,010 Income from operations 490,661 338,115 1,463,529 1,218,786 As a percentage of net revenue 20.5 % 15.3 % 21.0 % 19.0 % Other income (expense), net 13,743 9,842 55,020 25,229 Income before income tax expense 504,404 347,957 1,518,549 1,244,015 Income tax expense 152,534 99,243 452,336 363,293 Net income $ 351,870 $ 248,714 $ 1,066,213 $ 880,722 Basic earnings per share $ 2.87 $ 1.97 $ 8.57 $ 6.94 Diluted earnings per share $ 2.87 $ 1.96 $ 8.55 $ 6.92 Basic weighted-average shares outstanding 122,697 126,460 124,471 126,892 Diluted weighted-average shares outstanding 122,803 126,770 124,668 127,218 lululemon athletica inc. Condensed Consolidated Balance Sheets Unaudited; Expressed in thousands October 27, 2024 January 28, 2024 October 29, 2023 ASSETS Current assets Cash and cash equivalents $ 1,188,419 $ 2,243,971 $ 1,091,138 Inventories 1,800,893 1,323,602 1,663,617 Prepaid and receivable income taxes 257,388 183,733 300,258 Other current assets 358,589 309,271 309,886 Total current assets 3,605,289 4,060,577 3,364,899 Property and equipment, net 1,697,759 1,545,811 1,413,918 Right-of-use lease assets 1,360,589 1,265,610 1,048,607 Goodwill and intangible assets, net 178,185 24,083 23,912 Deferred income taxes and other non-current assets 241,847 195,860 170,928 Total assets $ 7,083,669 $ 7,091,941 $ 6,022,264 LIABILITIES AND STOCKHOLDERS' EQUITY Current liabilities Accounts payable $ 385,960 $ 348,441 $ 309,324 Accrued liabilities and other 561,615 348,555 392,949 Accrued compensation and related expenses 190,169 326,110 250,479 Current lease liabilities 290,368 249,270 217,138 Current income taxes payable 96,808 12,098 27,231 Unredeemed gift card liability 238,327 306,479 213,256 Other current liabilities 40,286 40,308 37,737 Total current liabilities 1,803,533 1,631,261 1,448,114 Non-current lease liabilities 1,223,733 1,154,012 950,954 Non-current income taxes payable — 15,864 15,864 Deferred income tax liability 33,231 29,522 53,833 Other non-current liabilities 37,440 29,201 27,650 Stockholders' equity 3,985,732 4,232,081 3,525,849 Total liabilities and stockholders' equity $ 7,083,669 $ 7,091,941 $ 6,022,264 lululemon athletica inc. Condensed Consolidated Statements of Cash Flows Unaudited; Expressed in thousands First Three Quarters 2024 2023 Cash flows from operating activities Net income $ 1,066,213 $ 880,722 Adjustments to reconcile net income to net cash provided by operating activities (194,890 ) 31,344 Net cash provided by operating activities 871,323 912,066 Net cash used in investing activities (575,214 ) (445,325 ) Net cash used in financing activities (1,328,510 ) (510,583 ) Effect of foreign currency exchange rate changes on cash and cash equivalents (23,151 ) (19,887 ) Decrease in cash and cash equivalents (1,055,552 ) (63,729 ) Cash and cash equivalents, beginning of period 2,243,971 1,154,867 Cash and cash equivalents, end of period $ 1,188,419 $ 1,091,138 lululemon athletica inc. Reconciliation of Non-GAAP Financial Measures Unaudited; Expressed in thousands, except per share amounts Constant dollar changes The below changes show the change for the third quarter of 2024 compared to the third quarter of 2023. Net Revenue Change Foreign exchange Change in constant dollars United States — % — % — % Canada 9 — 9 Mexico (1) n/a n/a n/a Americas 2 — 2 China Mainland 39 (3 ) 36 Rest of World 27 (4 ) 23 Total international 33 (3 ) 30 Total 9 % (1 )% 8 % Comparable Sales (2) Change Foreign exchange Change in constant dollars Americas (2 )% — % (2 )% China Mainland 27 (3 ) 24 Rest of World 23 (3 ) 20 Total international 25 (3 ) 22 Total 4 % (1 )% 3 % (1) On September 10, 2024, the Company acquired the lululemon branded retail locations and operations run by a third party in Mexico. Wholesale sales to the third party by lululemon athletica canada inc. prior to the acquisition are disclosed as net revenue recognized within Canada. (2) Comparable sales includes comparable company-operated store and e-commerce net revenue. Comparable company-operated stores have been open for at least 12 full fiscal months, or open for at least 12 full fiscal months after being significantly expanded. Comparable company-operated stores exclude stores which have been temporarily relocated for renovations or have been temporarily closed. Adjusted financial measures The following tables reconcile adjusted 2023 financial measures with the most directly comparable measures calculated in accordance with GAAP. The adjustments relate to certain inventory provisions, asset impairments, and restructuring costs recognized in relation to lululemon Studio and their related tax effects. Please refer to Note 4. Impairment of Assets and Restructuring Costs included in Item 1 of Part I of the Company's Report on Form 10-Q to be filed with the SEC on or about December 5, 2024 for further information on the nature of these amounts. Third Quarter 2023 Gross Profit Gross Margin Income from Operations Operating Margin Income Tax Expense Effective Tax Rate Net Income Diluted Earnings Per Share GAAP results $ 1,256,664 57.0 % $ 338,115 15.3 % $ 99,243 28.5 % $ 248,714 $ 1.96 lululemon Studio charges: lululemon Studio obsolescence provision 23,709 1.1 23,709 1.1 23,709 0.19 Impairment of assets 44,186 2.0 44,186 0.35 Restructuring costs 30,315 1.4 30,315 0.24 Tax effect of the above 26,085 (0.4 ) (26,085 ) (0.21 ) 23,709 1.1 98,210 4.5 26,085 (0.4 ) 72,125 0.57 Adjusted results (non-GAAP) $ 1,280,373 58.1 % $ 436,325 19.8 % $ 125,328 28.1 % $ 320,839 $ 2.53 First Three Quarters 2023 Gross Profit Gross Margin Income from Operations Operating Margin Income Tax Expense Effective Tax Rate Net Income Diluted Earnings Per Share GAAP results $ 3,705,980 57.8 % $ 1,218,786 19.0 % $ 363,293 29.2 % $ 880,722 $ 6.92 lululemon Studio charges: lululemon Studio obsolescence provision 23,709 0.3 23,709 0.3 23,709 0.19 Impairment of assets 44,186 0.7 44,186 0.35 Restructuring costs 30,315 0.5 30,315 0.24 Tax effect of the above 26,085 (0.2 ) (26,085 ) (0.21 ) 23,709 0.3 98,210 1.5 26,085 (0.2 ) 72,125 0.57 Adjusted results (non-GAAP) $ 3,729,689 58.1 % $ 1,316,996 20.5 % $ 389,378 29.0 % $ 952,847 $ 7.49 Expected net revenue increase excluding the 53rd week The Company's fiscal year ends on the Sunday closest to January 31st of the following year, typically resulting in a 52-week year, but occasionally giving rise to an additional week, resulting in a 53-week year. Fiscal 2023 was a 52-week year while 2024 will be a 53-week year. Fourth Quarter 2024 Fiscal 2024 Expected net revenue increase 8% to 10% 9% Impact of 53rd week (5)% to (6)% (2)% Expected net revenue increase excluding the 53rd week (non-GAAP) 3% to 4% 7% lululemon athletica inc. Company-operated Store Count and Square Footage (1) Square footage expressed in thousands Number of Stores Open at the Beginning of the Quarter Number of Stores Opened During the Quarter Number of Stores Closed During the Quarter Number of Stores Open at the End of the Quarter 4 th Quarter 2023 686 26 1 711 1 st Quarter 2024 711 5 5 711 2 nd Quarter 2024 711 11 1 721 3 rd Quarter 2024 721 28 — 749 Total Gross Square Feet at the Beginning of the Quarter Gross Square Feet Added During the Quarter (2) Gross Square Feet Lost During the Quarter (2) Total Gross Square Feet at the End of the Quarter 4 th Quarter 2023 2,797 173 3 2,967 1 st Quarter 2024 2,967 35 14 2,988 2 nd Quarter 2024 2,988 90 3 3,075 3 rd Quarter 2024 3,075 156 — 3,231 (1) (2) View source version on businesswire.com : https://www.businesswire.com/news/home/20241205433612/en/ CONTACT: Investor Contacts: lululemon athletica inc. Howard Tubin 1-604-732-6124 or ICR, Inc. Joseph Teklits/Caitlin Churchill 1-203-682-8200 Media Contact: lululemon athletica inc. Madi Wallace 1-604-732-6124 KEYWORD: NORTH AMERICA CANADA INDUSTRY KEYWORD: FASHION ONLINE RETAIL RETAIL HEALTH OTHER RETAIL FITNESS & NUTRITION SPECIALTY SOURCE: lululemon athletica inc. Copyright Business Wire 2024. PUB: 12/05/2024 04:05 PM/DISC: 12/05/2024 04:06 PM http://www.businesswire.com/news/home/20241205433612/en
Loneliness has become so prevalent that the U.S. Surgeon General referred to loneliness and isolation as an epidemic affecting productivity and engagement in schools, workplaces, and civic organizations. According to the 2023 Work in America Survey by the American Psychological Association, 26 percent of employees — both working in offices and remotely — reported feeling lonely and isolated at work. With 167 million people in the United States’ labor force as of May, according to the Bureau of Labor Statistics, there are clearly many lonely people sitting behind computer screens and along factory lines. Jennice Chewlin, owner of Chewlin Group, a New Hampshire-based consultancy focused on improving workplace well-being through training, coaching, and strategy development, says many of those people may be hiding their feelings of loneliness. Creating a workplace culture of belonging is crucial, she says. “If you want to improve workplace wellbeing and reduce loneliness start with belonging,” she says, citing a recent American Psychological Association report. “Twenty percent of respondents to an APA survey said they did not feel like they belonged at work when asked.” From a financial perspective, loneliness often results in disengaged employees, lower productivity and decreased performance, costing businesses an estimated $154 billion annually in stress-related absenteeism alone in 2019, according to the Cigna Group’s Loneliness Index. Stuart Lustig, the national medical executive for behavioral health strategy and product design at Evernorth, a division of the Cigna Group, says when people are feeling lonely and disconnected, whether they work for a small or a large company, those employees are more likely to quit. “This happens when people feel disconnected from others and with their work,” he says. “We’re social beings by nature and want to feel connected and be with others at least some of the time.” Tackling loneliness post-COVID Loneliness became a huge problem during the COVID-19 pandemic, when offices across the country closed, sending people home to bedrooms, dining rooms and whatever spaces they could find. Chewlin says COVID exposed problems with workplace wellbeing that had been simmering for years. “There was a need to identify and prevent burn out,” she says. Chewlin, whose background is in public health, started Chewlin Group in 2022. “COVID taught workplaces they can’t keep doing business as usual and for those companies that made employee wellbeing a priority, they’re seeing the most benefit today.” And even as companies and workers adjusted to the “new normal” following the pandemic, loneliness in the workplace remains as prevalent as ever. Maggie Pritchard, CEO of Lakes Region Mental Health Center in Laconia and president of the N.H. Community Behavioral Health Association, says, “Feelings of loneliness at work are on the rise post-pandemic, both for our mental health workforce and the patients we see, [and] we likely won’t know the full extent of the crisis for years.” Remote work since the pandemic created more flexibility for employees and allowed businesses to reduce travel and office expenses, but it also affects peoples’ ability to stay connected, says Pritchard. “Remote work significantly changed workplace culture. People experienced unprecedented isolation,” she says. Sue Drolet, chief human resource officer for Lakes Region Mental Health, says workforce flexibility that provides more autonomy can also lead to isolation for some people. “If someone is feeling lonely at work, especially if they work remotely, they should reach out to a co-worker, schedule a meeting, phone call, or lunch,” she says. “There is a balance that can be achieved.” Understanding, combating loneliness Being proactive is one way to combat workforce loneliness. At Mainstay Technologies in Manchester, talking about loneliness and wellbeing is built into the company’s monthly check-ins with its 100 employees. President Jason Golden says Mainstay creates opportunities for connection and belonging. “We are very intentional about creating systems of communication,” Golden says. “You can’t force connections, but you can force opportunities.” Mainstay holds lunch and learn sessions allowing employees to connect with each other and offers quarterly outings, including to Funtown Splashtown USA in Maine. Golden and his team are aware of the potential for burnout, particularly for service companies like Mainstay. “We watch overtime, including billable client hours, to make sure there’s a good work-life balance,” he says. “And we’ve been very intentional in the past year about training our leadership in the idea of radical respect,” which involves honoring individuality, rather than demanding conformity and creating opportunities for collaboration, not coercion. “We’re super intentional about creating as many opportunities as we can to eliminate loneliness and increase connection,” Golden says. Pritchard says companies are increasing such efforts. “People, including legislators, are recognizing that mental health is a major priority,” she says. “The younger workforce, ‘Gen Z’ for example, is more comfortable asking for help or mental health days at work. This is helping to normalize it and reduce stigma.” Companies are also reaching out to experts for assistance. Chewlin Group facilitates conversations with companies by helping them make informed decisions about increasing potential opportunities for employee engagement and wellbeing.“[People] often confuse feeling lonely with being alone,” Chewlin says, citing the surgeon general’s definition of loneliness, which is rooted in feelings of disconnection and a lack of belonging. “There’s often a deficit of connection.” Loneliness is a normal human experience, as much as happiness, joy, or hunger, Chewlin says, adding that it is often hidden. “There’s stigma attached to this feeling,” she says. “People feel others will perceive them as having something wrong with them and because of this we put on a mask and pretend everything is OK.” Nicole Sublette, owner of Therapists of Color New England in Manchester, says the topic of workplace disconnection and loneliness came up recently at a Stay Work Play event she attended. “People were talking about this, and my own business really struggles because people tend to work in silos,” she says. One thing Sublette has done to combat loneliness at her company is to plan group gatherings. Recently, Therapists of Color also created a “clinician support coordinator” to do check-ins and meetings with staff. “Workplaces today are becoming more progressive around mental health and wellness. I had a client whose organization offered wellness incentives including yoga, gym memberships and coaching.” Sublette says 50 percent of Therapists of Color’s work is telehealth and that staff work two days in office. “This allows people to grab lunch with each other and they have two hours off during the day,” she says. “I try to make everyone’s lunch hours the same.” Money, race, and age matters When it comes to loneliness in the workplace, certain trends stand out. One is age. The 2024 Work in America Survey by the American Psychological Association found that 45 percent of workers ages 18 to 25 felt lonely, compared to 33 percent of workers ages 26 to 33, 22 percent of workers ages 44 to 57 and about 15 percent of workers over age 58. “It seems counterintuitive. You would think younger people would have more connections than older people, but it doesn’t pan out that way,” says Lustig, a child psychiatrist by training. “Younger people are supposed to be forming their identities and making lasting connections, graduating college, having their first jobs, and much of that was hindered by the pandemic.” The U.S. Surgeon General laid out a framework of five requirements for workplace mental health and wellbeing. They are: protection from harm, opportunity for growth, connection and community, mattering at work and work-life harmony. Forlower paid workers, these are harder to find. Lustig says that while money can’t buy a person happiness, it can buy friends. “All joking aside, having connections with friends is an indicator of well-being,” he says, explaining that having financial resources provides the ability to better engage in social activities. And working more hours to make ends meet is time away from family and friends, he adds. “People with better financial resources can engage in important activities and stay more connected.” According to a 2021 Cigna report, men and women have roughly the same likelihood of loneliness (57 percent of men and 59 percent of women) while people from underrepresented racial groups are more likely to be lonely. Seventy five percent of Hispanic adults and 68 percent of Black/African American adults are classified as lonely — at least 10 points higher than what is seen among the total adult population (58 percent). Sublette says people of color — who can experience powerlessness and invisibility — and those with neurodivergence have needs that employers may not understand. “It’s important for employers to gauge their employees’ needs individually. When it comes to group gatherings they can simply ask, ‘what do you want to do, what does fun look like to you,’ these questions are important,” she says. Creating the potential for connection Creating a workplace of belonging begins with trust, says Chewlin. This includes executive leaders, managers and employees working together to build that trust. “This requires more than a one-and-done approach, she says. “But when building trust is made a priority, workplaces can help create a momentum for change where everyone thrives.” Golden of Mainstay says he asks employees what is meaningful in their lives and how they can get closer to that. He emphasizes to his staff the importance of fostering positive relationships with people who are trusted sources of wisdom. “You need to know your squad,” he says. “When you’re feeling lonely, who is it you turn to?” As the leader of a tech company, Golden says he’s aware of the dangers of isolation. “I’m an introvert who also enjoys people,” he says, adding he’d typically rather be reading a book than attending networking events. “There’s a seduction for introverts, especially in the tech world where much of the work is online ... they sometimes think they can solve everything in their own mind. That’s dangerous.”Procaps Group S.A. ( NASDAQ:PROC – Get Free Report ) was the target of a significant decrease in short interest in December. As of December 15th, there was short interest totalling 163,300 shares, a decrease of 21.7% from the November 30th total of 208,500 shares. Based on an average daily volume of 96,000 shares, the days-to-cover ratio is presently 1.7 days. Currently, 0.2% of the company’s stock are short sold. Procaps Group Trading Down 4.9 % Shares of Procaps Group stock opened at $2.35 on Friday. The business has a fifty day simple moving average of $1.81 and a two-hundred day simple moving average of $2.07. The firm has a market capitalization of $265.13 million, a P/E ratio of 4.52 and a beta of 0.10. Procaps Group has a 12 month low of $0.50 and a 12 month high of $4.95. Procaps Group Company Profile ( Get Free Report ) Featured Stories Receive News & Ratings for Procaps Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Procaps Group and related companies with MarketBeat.com's FREE daily email newsletter .
Global Outage Management Market Set For 18.4% Growth, Reaching $2.27 Billion By 2028
WINNIPEG — Mike O’Shea stood in front of reporters Friday and kept his cool while answering questions about the Winnipeg Blue Bombers’ 41-24 Grey Cup loss to the Toronto Argonauts last weekend. The head coach was asked if he made a mistake keeping injured quarterback Zach Collaros in the game, why star running back Brady Oliveira didn’t get the ball more and whether a flawed game plan led to Winnipeg’s third consecutive championship loss. “As an entire team, we didn’t have our best game,” O’Shea said in his end-of-the-season press conference. “We didn’t lack effort. We didn’t lack desire. “We didn’t have our best game as an entire team. Three phases. Coaches — everybody. Me especially.” O’Shea admitted he missed calling a timeout in the fourth quarter when there were only 11 Blue Bombers on the field instead of 12. “I don't get the count over the headset as quickly as I probably need to, we can't count. As I'm seeing a guy come off, that's the right time for that timeout that I should have used,” O’Shea said. He also said he should have used a challenge flag earlier on a play he didn’t identify, and checked on his players more during the game. But hindsight wouldn’t change his decision to put Collaros back in the game after the index finger on his throwing hand was cut deep when it hit a defender’s helmet. “He absolutely deserves every opportunity to lead this team,” O’Shea said. “From what I saw and from chatting with him very briefly, I felt really comfortable with that. I didn't think it was going to be easy, but I thought it's Zach, so...” The injury to Collaros’s finger happened late in the third quarter when the Blue Bombers were trailing the Argonauts 17-10. The veteran left the game and returned with a bandaged finger that needed five stitches and a numbing agent. He wore a glove on the hand and told reporters earlier this week it was difficult to grip the ball. Collaros said he warned receivers in the huddle his throws might not have the usual zip and they should be prepared to come back for the ball. “(I) saw him delivering the ball on the sidelines. Then you see him deliver a couple balls out there and some of them are pretty damn good, right?” O’Shea said. “The awareness of Zach to say to the receivers, ‘hey, work a little harder for me,’ I think it’s natural and what should be said. I think they already know that.” When Collaros re-entered the game, he threw interceptions in back-to-back series. “On one of them he got rid of the ball and I thought it was a good ball and the defensive player made a good play,” O’Shea said of the picks. “One slipped right out of his hand or I don't know if it got tipped or not. You've got to give him that opportunity.” Oliveira was questioning his lack of opportunities in the game when he spoke to reporters earlier in the week. The CFL’s newly minted most outstanding player and top Canadian only had 11 carries for 84 yards and one late touchdown. About 17 or 18 run plays were called, O’Shea said. “One starts off with a procedure penalty in the first and then six of those get pulled because there's X number of guys in the box or the read says this is not a run play anymore, this is now a pass play,” he said. “You call that many runs and then a pile of them get pulled because of the structure of the defence. That's OK with me at that point.” O’Shea said Bombers offensive co-ordinator Buck Pierce has been granted permission to talk to CFL teams with head-coaching job openings. The B.C. Lions are reportedly interested in Pierce. The Edmonton Elks also have a vacant head coach spot. If Pierce doesn’t become a head coach, O’Shea said he wants him to stay in Winnipeg. He believes Pierce had the offence “extremely well-prepared” for the Grey Cup. “I’m never going to question the play-calling, and I think what’s going on here is we’re questioning,” O’Shea said. “We’re trying to find blame and fault when that’s nowhere in our DNA of how we built this eight, nine, 10 years ago. We’re starting to try and find all these answers and question all these people that were 0-4 and 2-6 and then 10-1, and we just didn’t play our best game.” The Bombers finished 11-7 and claimed the West Division title that earned them a fifth consecutive trip to the Grey Cup. They won the championship in 2019 and ’21, but lost 28-24 to the Montreal Alouettes last year and 24-23 to Toronto in 2023. “We're the same group that got there, that went on a phenomenal run after a bad start, and a bad start for a lot of reasons that we overcame,” O’Shea said. “I just, I don't question any of it. I look for answers, too. I watch the film over and over and over again. And look to already make notes on how we're going to be better, how we're going to get back there again.” This report by The Canadian Press was first published Nov. 22, 2024. Judy Owen, The Canadian PressRuben Amorim warned “the storm will come” eventually as Manchester United’s head coach tried to temper expectations ahead of the trip to Arsenal. The 39-year-old has been a breath of fresh air since succeeding Erik ten Hag, with his personality and approach, coupled with promising early performances, bringing hope back to Old Trafford. Amorim has been touched by his warm welcome but repeatedly urged fans to avoid jumping the gun, having followed a draw at Ipswich with home wins against Bodo/Glimt and Everton. Wednesday’s trip to Arsenal is comfortably his biggest challenge yet and victory would see United move within three points of the Premier League title contenders. Put to Amorim it will be hard to manage expectations if they won in the capital, the head coach said: “I would like to say different things, but I have to say it again: the storm will come. “I don’t know if you use that expression, but we are going to have difficult moments and we will be found out in some games. “And I know that because I’m knowing my players and I know football and I follow football, so I understand the difference between the teams. “We are in the point in that we are putting simple things in the team, without training, and you feel it in this game against Everton, they change a little bit the way they were building up. “They are very good team, and we were with a lot of problems because we cannot change it by calling one thing to the captain. A midweek trip to the capital awaits 🚆 #MUFC || #PL pic.twitter.com/1e6VrILJW3 — Manchester United (@ManUtd) December 3, 2024 “So, we don’t have this training, so let’s focus on each game, on the performance, what we have to improve, trying to win games. And that is the focus. “I know it’s really hard to be a Manchester United coach and say these things in press conferences. We want to win all the time. No matter what. “We are going to try to win, but we know that we are in a different point if you compare to Arsenal. “So, it is what it is and we will try to win it and we go with confidence to win, but we know that we need to play very well to win the next football match.” The trip to Arsenal is the second of nine December matches for United, who are looking to avoid suffering four straight league defeats to the Gunners for the first time. The Red Devils have not won a Premier League match at the Emirates Stadium since 2017, but Amorim knows a thing or two about frustrating Mikel Arteta’s men. Arsenal thrashed Sporting Lisbon 5-1 in the Champions League last week, but in 2022-23 he led the Portuguese side to a Europa League last-16 penalty triumph after a 1-1 draw in London made it 3-3 on aggregate. “Arsenal this year, they play a little bit different,” Amorim said. “They are more fluid. “For example, two years ago when we faced them with Sporting, you knew how to press because you can understand better the structure. “Now it’s more fluid with (Riccardo) Calafiori and (Jurrien) Timber in different sides. One coming inside, the other going outside. Also (Martin) Odegaard changed the team, and you can feel it during this season. “So, you can take something from that game, especially because I know so well the opponent so you can understand the weakness of that team. “But every game is different, so you take something, but you already know that you are going to face a very good team.” This hectic winter schedule means Amorim sidestepped talk of January transfer business ahead of facing Arsenal, although he was more forthcoming on Amad Diallo’s future. The 22-year-old, who put in a man of the match display in Sunday’s 4-0 win against Everton, is out of contract at the end of the season, although the club holds an option to extend by a year. Diallo has repeatedly spoken of his desire to stay at United and it has been reported an agreement is close. Amorim said: “I think he wants to stay, and we want him to stay. So that is clear and we will find a solution.”
In the B2B world, where deal sizes can soar into the millions, financial relationships are anything but straightforward. This makes B2B payments acceptance a complex terrain of both challenges and opportunities. By 2030 , the B2B payments market size is projected to hit north of $170 trillion. But unlike their consumer-facing counterparts, B2B payments lack a standardized payment method. While credit cards dominate retail, B2B payments are a fragmented web of checks, wire transfers, ACH payments, digital payments and even cold hard cash. The sheer diversity of payment options is both a blessing and a curse. Each comes with unique costs, settlement times and risks, creating a labyrinth for organizations to navigate as they seek to best serve their B2B partners of all sizes and geographies. Businesses need to align their payment acceptance policies with their corporate goals, which can be a complex process. Despite the availability of various payment methods, many businesses still rely on traditional, comparatively inefficient processes like paper checks and manual reconciliation. This leads to delays, errors, increased costs and a lack of transparency. While challenges such as legacy systems, data security and supplier resistance remain, after talking to dozens of senior payments industry executives for PYMNTS’ B2B Payments: Outlook 2030 event, it’s increasingly clear that the opportunities presented by automation, artificial intelligence (AI) and strategic partnerships offer a compelling case for change. Read more: B2B Payments Aren’t Boring Anymore Why B2B Payment Acceptance Still Feels Like a Rubik’s Cube In an era where every dollar counts, rethinking how businesses accept payments isn’t just a technical upgrade — it’s a strategic imperative. The B2B payments landscape is undergoing a transformation , driven by technological advancements, evolving business needs and the increasing consumerization of business processes. This shift presents opportunities for innovation and growth, redefining how businesses interact financially. 21st century businesses have access to a wide range of modern payment tools. Among the innovations shared by experts in “ Outlook 2030: How Platforms and Networks Will Power the Future of Business Payments ,” a PYMNTS eBook, include B2B platforms meant to replicate the efficiency of consumer marketplaces by facilitating end-to-end transactions online, virtual cards and tokenization, real-time payments, embedded finance, digital wallets and even blockchain-based solutions like stablecoins. Many of these tools, like B2B platforms and real-time payments, allow for the automation of financial processes, improving efficiency and reducing manual work. Tools like virtual cards , real-time payments and embedded finance can give businesses quicker access to funds and help them manage their working capital more effectively. At the same time, technologies like tokenization and stablecoins, coupled with robust security protocols, can help to reduce fraud risks and improve security in B2B transactions. Digital platforms also can provide real-time data and insights into transactions, enabling better forecasting and strategic decision-making. However, it’s crucial to note that, especially with innovations like stablecoins, the use of certain technology in corporate finance can commonly attract regulatory attention, requiring companies to maintain robust compliance practices. Read more : The Great Paper Escape: Transforming Accounts Payable for the Digital Age Unlocking B2B Payment Acceptance: Challenges and Opportunities Integrating modern payment solutions with existing legacy systems can be complex and pose a significant challenge for businesses. Adopting new payment methods can often meet resistance from suppliers, who harbor misconceptions about the associated costs, complexity and benefits. This lack of understanding frequently creates friction in payment cycles and slows the adoption of innovative solutions. “The B2B money movement space has not yet benefited from some of the real innovations,” Seamus Smith , executive vice president group president at FIS , told PYMNTS, noting that checks still account for “nearly 40%” of B2B payment volume in the U.S., even though they are prone to fraud and reconciliation errors. Automation offers a clear path to addressing inefficiencies in accounts receivable processes. From invoicing to payment reconciliation, automated systems reduce errors, speed up payment cycles and free up resources for strategic initiatives. By eliminating manual tasks, businesses can focus on growth and innovation. Collaborating with FinTech companies and payment providers can help open the door to innovative solutions and a broader ecosystem of payment networks. Such partnerships can provide expertise and resources that amplify a company’s capabilities and competitiveness, although compliance and third-party risk management remain crucial. Separately, AI-powered tools are transforming B2B payment processes by automating tasks, detecting fraud and providing predictive insights. These advancements empower CFOs to shift from reactive number-crunching to proactive strategic planning, positioning finance as a driver of innovation, as well as helping smooth out onboarding and acceptance professes. In today’s evolving ecosystem, companies that prioritize innovation and adaptability will not only be positioned to overcome hurdles but also to unlock new growth avenues. By reimagining payment acceptance as a strategic enabler rather than a back-office function, businesses can stay ahead in a competitive world.
PHILADELPHIA (AP) — Saquon Barkley wanted to be a student in team history before he had a chance to make some with the Eagles. The running back who had just signed with Philadelphia for $26 million guaranteed took a deep dive on some of the franchise’s greats out of the backfield. Javascript is required for you to be able to read premium content. Please enable it in your browser settings.
Joseph Vaske pleaded guilty to a theft charge Friday which was reduced from a first-degree to a third-degree felony for illegally cashing his father’s Social Security checks and depositing them in his own account. Charlotte Caldwell | The Lima News LIMA — A Lima man pleaded guilty Friday in the Allen County Common Pleas Court to a theft charge which was reduced from a first-degree to a third-degree felony for illegally cashing his father’s Social Security checks and depositing them in his own account. As part of the plea deal for Joseph Vaske, 34, the state will make no sentencing recommendation, so it will be up to Judge Jeffrey Reed to decide. The charge does not require a mandatory prison sentence. He must also pay a $147,481.01 restitution. Sentencing was set for Jan. 13 after a pre-sentence investigation is complete. He has been out on bond and continued to be Friday. During a previous hearing, Tiffany Najmulski, an agent with the attorney general’s office, testified that she initially became involved in the financial investigation at the request of the Wapakoneta Police Department and said the case involved Vaske’s father’s Social Security checks. The indictment alleges the thefts occurred between Sept. 9, 2016, and Aug. 2, 2019. Reach Charlotte Caldwell at 567-242-0451.Hegseth meets with moderate Sen. Collins as he lobbies for key votes in the Senate
J.M. Smucker Co. stock falls Wednesday, underperforms market
Moment of silence for former President Jimmy Carter held before the Falcons-Commanders game
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Everything you need to know about California government in two storiesVernon drug trafficker linked to heroin shipment hidden in lamps out on day parole