Meta’s X competitor Instagram Threads is gaining an improved search interface, the company announced on Monday. The app, which offers a Meta-run alternative to Elon Musk’s X, but built on top of Instagram’s social graph, is rolling out a new way to search for specific posts, allowing users to filter searches by user profiles and date ranges. This is not as comprehensive as X’s advanced search, which today lets users narrow queries by language, keywords, exact phrases, excluded words, hashtags, and more. But it does make it easier for Threads users to locate specific posts. It will also bring Threads’ search more on par with Bluesky’s search, which also allows users to filter searches by user profiles, date ranges, and more, using advanced queries. However, the Bluesky app itself doesn’t surface all the filtering options in its user interface as of yet. Before this latest update, Threads search has been fairly basic. You could search by a keyword or keywords but only filter those results by two options — either “Top” for the posts with the most engagement, or “Recent” for the latest posts. The new search functionality will be available to global users in the weeks ahead, noted the Threads account in a new post. In recent days, Meta has been quickly releasing new features to combat the threat from social networking startup Bluesky , which has rapidly gained adoption as another X alternative. In September, Bluesky had north of 9 million users, but that number has soared in the weeks following the U.S. elections, as users left X over the political leanings of owner Elon Musk and various policy changes, such as plans to change how blocks work and to allow AI companies to train on X user data. Today, Bluesky claims nearly 24 million users . To counter Bluesky’s potential, Meta’s Threads released new features, including the ability for users to choose their own default feed , a design change that makes it easier to move between feeds , and an updated algorithm. It was also spotted developing its own take on Bluesky’s user-curated recommendation lists, called Starter Packs.Sealing a partnership of three years – AIBS Chairperson Rohini Nanayakkara, and Founder and Managing Director Hiran de Silva with Edge Hill University, United Kingdom Pro-Vice Chancellor Prof. George Talbot Heads of educational institutions and strategic partners among those who joined in the discussion The Asian Institute of Business and Science (AIBS) founded in 2018 recently held a celebratory event marking its journey of six years – from humble beginnings to an entity that continues to raise the bar in imparting higher education excellence. Firmly embedded into the realm of world class transnational education with the affiliation etched with Edge Hill University, UK in 2022, AIBS currently offers 21 study courses and programs across 14 awarding bodies, universities and higher education institutions to 600 plus learners. Pro-Vice Chancellor of Edge Hill University, which is ranked 35th in the Guardian Rankings, Professor George Talbot stated that Edge Hill University was recognised as the Modern University of the Year in 2022. “We are renowned for our excellence in STEM education and our affiliation with AIBS assures a strong pathway for us to deliver an unparalleled educational experience, especially in the Life Sciences sector, for Sri Lankan students. Our partnership with AIBS ensures seamless delivery of academic curriculums meeting the highest standards demanded of international degrees, provides skills development and research support for AIBS academics. We plan to expand the portfolio of offerings in undergraduate studies covering Environmental Science, Food Science and Technology, Biochemistry, Business Analytics, Cyber Security and Artificial Intelligence along with select post-graduate programs.” Built on the vision of establishing a science-centric institution, AIBS began its journey in higher education as an accredited centre to deliver Pearson BTEC Higher National Diploma in Applied Sciences with two specialisations in biology and biotechnology. Subsequently, Business and Computing, with five specialisations, including Business, Marketing, Accounting and Finance, Computing and Software Engineering were added to the portfolio. Based on this success, AIBS moved into delivery of undergraduate programs in Biomedical Science, Biotechnology, Genetics, International Business, Marketing, Computing and Software Engineering in partnership with Edge Hill University. “We are a leading choice for STEM education in Sri Lanka,” said AIBS Founder and Managing Director Hiran de Silva addressing the gathering of heads of education institutions and strategic partners. “From 2019, our sights have been set on expanding our transnational education space. This we did with our partnerships with Pearson Education UK, Edge Hill University, Rosedale Global High School and NCC Education UK offering a suite of pre-university and postsecondary qualifications. We pioneered the Ontario Secondary School Diploma in Sri Lanka and offered International Foundation Diploma in Higher Education and Australian Foundation Year programs in Science, Business, IT and Engineering to overcome the disruptions created by COVID.” Tracing some milestones, de Silva stated that AIBS is now the top producer of NCC Level 3 graduates in Sri Lanka, setting a benchmark for pre-university education in the region. “The partnership with Rosedale Global International to introduce the prestigious Ontario Secondary School Diploma accredited by the Ontario Ministry of Education in Canada now produce over one hundred OSSD graduates at AIBS annually.” Taking the lessons learned in the classroom to the practical world, AIBS now partners leading industry entities including Gene Labs Medical, Derana Medical Labs, and Institute for Research and Development among many others. With a strong focus on research in Life Sciences, Business, and IT, ensuring its contribution to academic innovation and societal development, AIBS remains steadfast in its mission to empower students with world-class education, preparing them to become leaders and innovators in a dynamic global landscape.
Prime Minister Lawrence Wong issued a rallying cry to the PAP’s rank and file on Nov 24, calling on them to be front and centre working the ground for the next general election. SINGAPORE - Bringing the People’s Action Party “out in front” means getting party activists to go beyond grassroots work and step up efforts to explain policies, said political observers. It also means the ruling party needs to rally Singaporeans behind its ideas, rather than just government policies and their outcomes, they added. Prime Minister Lawrence Wong issued a rallying cry to the party’s rank and file on Nov 24. He called on them to be front and centre working the ground for the next general election, which must be held by November 2025. This seems to be a fresh perspective, said Dr Gillian Koh, a senior research fellow at the Institute of Policy Studies. She noted that the incoming secretary-general’s message could see PAP activists being more upfront in engaging citizens, explaining policies and soliciting feedback and ideas. To do this, they would need a clear grasp of the party manifesto and how it translates to government policies, beyond the usual grassroots connections, she said. Dr Koh added that this could also be a signal that party members will get more leeway to talk about the pros and cons of policy positions across the spectrum. Echoing the sentiment, Singapore Management University law don Eugene Tan said it is significant that PM Wong made clear the distinction between party and government in rallying for the party to be “out in front”. This means the PAP must contest not just as the incumbent government but more as the political party that has governed Singapore since 1959, he said. Campaigning from the position of the incumbent government places a stronger focus on policies and outcomes, but a potential downside is that this does not necessarily lead to strong bonds with the people. On the other hand, campaigning as a political power can help rally Singaporeans behind the party’s cause, values and ideals, he said. PM Wong’s speech also took on the cost-of-living hot potato , stating that while the PAP government is doing its best to shield citizens from inflation, opposition parties have tried to exploit the concerns to turn sentiments against the ruling party. Dr Koh said recurring gripes about the cost of living are significant as this is where political and policy pressures can clash. PM Wong had also called for Singaporeans to remain united in a dangerous world , with more conflict and instability on the horizon. Associate Professor Bilveer Singh, who is from the National University of Singapore’s political science department, said he had expected to hear more on topics such as the rise of strong man politics, nationalism and deglobalisation. These trends have been seen in other countries, and can hurt Singapore and livelihoods here, he said. Raising these issues could be a way for PM Wong to rally Singaporeans behind the Government against outside pressures, he added. “It is not about PAP anymore, but Singapore and its future,” said Dr Singh. Next election ‘most consequential’ The next election will be a key fight for the PAP, given voters’ growing appetite for more political diversity, along with a drop in enthusiasm for one-party dominance, observers said. Prof Tan noted that a bad outcome for the PAP would be the loss of a few more current or prospective political office holders. Dr Mustafa Izzuddin, senior international affairs analyst at Solaris Strategies Singapore, added that PM Wong underscored the importance of the electorate voting for the PAP if they believe in the ruling party governing the country, rather than being enticed to vote for the opposition because they want more diverse voices. He added that PM Wong’s “strategically-calibrated, quasi-electioneering” speech indicates that the PAP will continue its focus on bread-and-butter issues and cost-of-living challenges to capture as many votes as possible. Dr Singh said the party will have to survive the “70-year itch” for political parties, referring to when people “get sick and tired” of the incumbent and attribute anything that goes wrong in the country to it. “The PAP has to prove that it is able to appreciate, understand, and respond to the rumblings on the ground,” he added. New leadership line-up shows focus on continuity On Nov 24, the PAP’s inner circle also voted for its central executive committee, returning 11 out of 12 who were elected in 2022 . The absence of major changes to the party’s top decision-making body shows it is focused on continuity and stability, observers said. But the few tweaks to the line-up could provide an indication of future Cabinet appointments under PM Wong’s watch, they added. Transport Minister Chee Hong Tat – the only new addition – was co-opted along with Manpower Minister Tan See Leng as the next two highest vote-getters. While fourth-generation (4G) leaders make up the majority of the slate, observers highlighted two notable shifts in cadres’ voting preferences. These were the inclusion of Mr Chee and the rise of Minister for Culture, Community and Youth Edwin Tong, who was co-opted two years ago but part of the top 12 this round. Twelve of the usual 18 who eventually make up the party’s policymaking body are voted in by its cadres at the biennial party conference. The CEC then traditionally co-opts the two next highest vote-getters on the same day, and another four members after its first meeting. Mr Chee’s inclusion in the CEC “marks his exponential rise within the PAP, which sees him as crucial to the party’s future under PM Wong’s leadership”, said Dr Mustafa. Mr Chee, who took up the transport portfolio in the wake of a corruption probe into his predecessor S. Iswaran, has impressed the party cadres, given that he was just shy of gaining an outright seat on the CEC, said Prof Tan. Party members told reporters on Nov 24 that the new slate is made up of trusted people with deep experience. It also includes ministers in their first term, showing that the transition between the third and fourth generation of leaders is going well, said Tampines GRC MP Desmond Choo. Tampines GRC MP Desmond Choo speaking to the media at the PAP conference on Nov 24. ST PHOTO: LIM YAOHUI “PM Wong was very frank that his leadership style is an inclusive one. He’s looking forward to bringing in people across the ranks, especially younger ones coming in. “That to me, is a strong message to Singaporeans that he is prepared to look for ideas, talent... (and) people with a heart to serve from across the ranks and across the different demographics,” said Mr Choo. Minister of State for Health and Digital Development and Information Rahayu Mahzam said there is a good balance of getting new people in, but also having the stability of keeping those who are more senior. “That is the modus operandi that we have used, and I hope that that’s something that we can carry on in years to come,” she added. Minister of State for Health and Digital Development and Information Rahayu Mahzam speaking to the media at the PAP conference on Nov 24. ST PHOTO: LIM YAOHUI Left off the list after the ballot was Minister for Digital Development and Information Josephine Teo. But observers were certain that she would be among those co-opted at the CEC’s first meeting. In 2022, she was co-opted as one of the two highest vote-getters after the first 12. The CEC’s first meeting is usually held within weeks of the election. It is at this meeting where they determine the appointments each member will hold. Dr Mustafa said Mrs Teo is likely to be co-opted at this meeting as she is considered a valuable member of PM Wong’s 4G team, and is an anchor minister in Jalan Besar GRC. Prof Tan added that the CEC elections are clearly competitive, and there are more Cabinet ministers than CEC positions. Another person likely to be co-opted is labour chief Ng Chee Meng, who was also co-opted in 2022. This would be expected given the close relationship between the PAP and the NTUC, and Mr Ng’s potential candidacy in the next election, said Dr Mustafa. Mr Ng had contested and lost in Sengkang GRC in 2020, and held various ministerial portfolios before that including Minister for Education (Schools). However, it is also possible that Mr Ng is replaced by another labour MP, or that two National Trades Union Congress leaders may be co-opted this round, said political observers. Prof Tan highlighted Senior Minister of State in the Prime Minister’s Office Desmond Tan as a name to watch. The deputy secretary-general of the NTUC was among the 19 names on the ballot at the conference, but was not voted into the committee. Mr Tan could be co-opted to the committee along with Mr Ng, said Prof Tan. Join ST's WhatsApp Channel and get the latest news and must-reads. Read 3 articles and stand to win rewards Spin the wheel nowIt’s one of America’s most famous cold cases, and he thinks it can be solved. Oscar-nominated filmmaker Joe Berlinger helms the new three-part Netflix documentary, “Cold Case: Who Killed JonBenet Ramsey.” Premiering Monday, Nov. 25, the docuseries explores the famous tragic case of the 6-year-old beauty pageant star, who was murdered and sexually assaulted in her own home in 1996 . Twenty-eight years later, the culprit still hasn’t been caught. “I think a lot of the material that has been done in the past tries to have their cake and eat it, too,” Berlinger told The Post, referring to the slew of previous documentaries and TV specials about JonBenet Ramsey. “Or worse, it comes to the wrong conclusion.” The documentary covers how the local Boulder, Colo., police department mishandled the case, and how the subsequent media circus cast a cloud of suspicion on the Ramsey family that hangs over them nearly 30 years later. In 2013, newly unsealed court papers revealed that JonBenet’s parents — mother Patsy, who died of cancer in 2006, and father John, 80, who is interviewed on-screen in the docuseries — were indicted for being complicit in her murder. The district attorney at the time, Alex Hunter, refused to sign the indictment papers and declined to prosecute, citing a lack of evidence. “I am firmly convinced that the Ramsey family is innocent. And I am also firmly convinced that this case can be solved, if the Boulder Police Department finally does what it’s supposed to do,” said Berlinger. Berlinger, who also co-directed the “Paradise Lost” documentary, which helped release the West Memphis Three from prison, pointed out that DNA technology has advanced today. So, he believes it’s not a lost cause to finally solve the JonBenet Ramsey case. “There still seems to be this institutional lack of will to ultimately solve the case, because of what I believe was extreme mishandling at the outset,” he said. “I don’t think there’s been a good comprehensive documentary series that has really analyzed this case that will also hopefully put a little pressure on the authorities to do the right thing.” Berlinger noted that it wasn’t hard to get JonBenet’s father, John, to agree to appear in the documentary. “John Ramsey agreed to sit down with us, did not ask to be paid, and was not paid — we don’t pay our subjects — and asked for no editorial input. No questions were off limits. To me, that is an 80-year-old guy who...wants to get that case solved. It’s just unthinkable that the family had anything to do with this.” Berlinger said he believes that many “likely suspects” were ruled out at the time of the murder, because of the faulty DNA analysis at the time. “I think all suspects now have to be put back on the table, including the Ramseys. And they would be the first ones to say, ‘Sure, put this back on the table, but let’s do the DNA testing.’ This is not trial by television. I don’t want to do to people what was done to the Ramseys,” he added. “We want the proper authorities to reinvestigate this case, and the potential suspects after the DNA is properly retested.” As for who did it? Berlinger said, “Sadly, there are a lot of people in the world who are attracted to little girls , and can do horrible things to them. [An intruder] is a much more plausible scenario than the family having been involved, if you look at some of the basic facts in the case.”
Amazon has introduced a handful of robots in its warehouses that the e-commerce giant says will improve efficiency and reduce employee injuries. Two robotic arms named Robin and Cardinal can lift packages that weigh up to 50 pounds. A third, called Sparrow, picks up items from bins and puts them in other containers. Proteus, an autonomous mobile robot that operates on the floor, can move carts around a warehouse. The bipedal, humanoid robot Digit is being tested to help move empty totes with its hands. And there’s also Sequoia, a containerized storage system that can present totes to employees in a way that allows them to avoid stretching or squatting to grab inventory. Amazon says Robin is currently being used in dozens of warehouses. The others are in a testing stage or haven’t been rolled out widely. But the company says it’s already seeing benefits, such as reducing the time it takes to fulfill orders and helping employees avoid repetitive tasks. However, automation also carries drawbacks for workers, who would have to be retrained for new positions if the robots made their roles obsolete. In October, Amazon held an event at a Nashville, Tennessee, warehouse where the company had integrated some of the robots. The Associated Press spoke with Julie Mitchell, the director of Amazon’s robotic sortation technologies, about where the company hopes to go from here. The conversation has been edited for length and clarity. Q: When you’re working on robotics, how long does it typically take to roll out new technology? A: This journey that we’ve been on has taken a couple of years. Luckily for us, we’ve been at this for over a decade. So we have a lot of core technology that we can build on top of. We started these particular robots, Cardinal and Proteus, in this building in November 2022. We came in and began playing around with what it would look like to pack and move a production order. Less than two years later, we are at scale and shipping 70% of the items in this building through that robotics system. Q: So, two years? A: We talk about “build, test and scale” and that’s about a two-year cycle for us right now. Q: It’s challenging to build robots that can physically grab products. How does Amazon work through that? A: As you can probably imagine, we have so many items, so it’s an exceptional challenge. We rely on data and putting our first prototype in a real building, where we expose it to all the things we need it to do. Then we drive down all the reasons that it fails. We give it a lot of sample sizes in a very short period of time. For example, a couple of years ago, we launched our Robin robotics arm – a package manipulation robot – and we’re at 3 billion picks. So the ability to launch into our network, rapidly collect data, scale and iterate has enabled us to go fast. The challenge itself can be boiled down to three simple things: you need to perceive the scene, plan your motion and then execute. Today, those are three different parts of our system. Artificial intelligence is going to help us change all of that, and it’s going to be more outcome-driven, like asking it to pick up a bottle of water. We’re on the verge, so that’s why I’m personally excited to be here at the onset of generative AI and use it to dramatically improve the performance of our robotics. Q: How do you think about the impact of automation on Amazon’s workforce as you’re developing the technology? A: With the technology we’ve deployed here, we’re creating new roles for individuals that can acquire new skills to fulfill those roles. And these new skills are not something that is too difficult to achieve. You don’t need an engineering degree, Ph.D. or any really technical skills to support our robotics systems. We designed the systems so they’re easy to service and train on the job to be a reliability maintenance engineer. We are working backwards from the idea that we want to employ more skilled labor. These opportunities are obviously higher paid than the entry level jobs in our buildings. And partnering with MIT has helped us understand what matters most to our team as we’re deploying these technologies across our network. Q: Are you experiencing any challenges as you introduce these robots in your warehouses? A: Not in the adoption. We’re integrating it. But these are complex systems and this is the real world, so things go wrong. For example, we had bad weather due to the storms in the Southeast. When I look at the robotics systems data, I can tell the weather is bad outside because that dramatically affects how the ship dock works. When trucks don’t arrive on time or when they can’t leave, you see bottlenecks in the building in strange ways. Containers build up, we have to put them in different places, and then humans need to recover them. So communication between what our robotics system is doing and what we need employees in the building to do to recover is important. It’s a collaboration of automation and humans to deal with real-world problems. It’s not a matter of having robotics take over but making it one system of humans and robotics working together to accomplish the goal of shipping the product. Get local news delivered to your inbox!
Want to invest while making a difference? Here's two very distinct strategiesRussia uses Bitcoin for international payments – Reuters
Max Hospital starts OPD services in Srinagar in neurosurgery, orthopaedic careAmidst the huge buzz surrounding the end of the popular show Arcane , fourth-generation soloist AleXa is sending fans into overdrive with her stunning cosplay of the character Jinx. AleXa took to social media shortly after the show’s final act dropped on Netflix this week to share photos of her latest transformation into the beloved character. Dressed in Jinx’s signature leather ensemble, AleXa nailed every detail of the Arcane look — from her electric blue braid and ethereal pink contact lenses to the character’s distinct cloud tattoos and eccentric expressions. she’s back 🩵💙💜🩷 pic.twitter.com/tzdkrYJvyE — AleXa ♡ 알렉사 (@AleXa_ZB) November 24, 2024 Shortly before sharing the cosplay on TikTok and Twitter , AleXa told subscribers on the fan-artist communication app Bubble that she had purchased the Jinx wig months ago, but finally started styling it recently while she couldn’t sleep, making the accuracy even more impressive. • 아 참 (ah right) • 안 그래도 (actually) • 못 자니까(Because I can't sleep) • 작곡말고 (Other than composing) • 이거 스타일링함(I styled this) pic.twitter.com/mAcbENuC3j — slow (@AleXaMSGs_) November 24, 2024 This isn’t AleXa’s first time embodying the iconic character. In 2022, she collaborated with the acapella group VoicePlay to cover the Arcane title song, “Enemy” by Imagine Dragons. At the time, AleXa donned her natural hair for the look, which was already dyed blue for her winning American Song Contest entry, “Wonderland.” Nevertheless, AleXa’s fans (known as A.I Troopers) are marvelling at how well her portrayal of Jinx has evolved over time. we love Alexas evolution of Jinx cosplays 💙🩷🩵 pic.twitter.com/zuY1d536od — roXi ཐི❤︎ཋྀ 🇵🇸 (@myg_Xa) November 24, 2024 Of course, the soloist is no stranger to the art of cosplay. On TikTok, she’s already shared over 30 cosplay highlights to date, transforming into characters from the likes of Monster High ... don’t call me baby 🩷🩵🤍💜 #AbbeyBominable #MonsterHigh #MonsterHighCosplay #cosplay #AleXa #알렉사 ♬ original sound – 𖧷 ... Adventure Time ... make fun of pb ✔️ make pb cry ❌ #BUBBLINE MY SWEET DARLINGS #MarcelineTheVampireQueen #AdventureTime #Marceline #핀과제이크의어드벤쳐타임 #cosplay #AleXa #알렉사 ♬ original sound – shun Kun – ssSnoopSss ... and many more franchises. late halloween content is better than no halloween content 🎃🐺💚 #RoxanneWolf #FNAF #SecurityBreach #cosplay #AleXa #알렉사 ♬ original sound – HOOPER “ Arcane szn 2 got me CRYING tf [sic],” AleXa captioned her latest TikTok, echoing fans’ sentiments following the show’s emotional finale. ♬ – Based in the universe of the hit video game League of Legends , Arcane has gripped a huge viewer base, including multiple K-Pop idols. League of Legends is already known to many for its virtual K-Pop girl group K/DA (with characters voiced by (G)I-DLE ’s Soyeon and Miyeon ), and Stray Kids recently appeared on the official soundtrack for the second season of Arcane with their song “Come Play.” Soloist Sunmi also previously cosplayed Jinx for her performance at the 2021 KBS Song Festival .
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, netORCHARD PARK, N.Y. (AP) — There’s plenty of concern and second-guessing to unpack from how the Bills unraveled on defense, special teams and clock management in their loss to the Los Angeles Rams to wonder whether it was premature labeling Buffalo as Super Bowl contenders only a week earlier. But first, the good news. There’s very little wrong with Buffalo’s Josh Allen-led offense after the quarterback strengthened his NFL MVP case. A week after a four-TD performance that included the statistical anomaly of him scoring two touchdowns on the same play in a 35-10 win over San Francisco, Allen became the NFL’s first player to throw and rush for three scores apiece in 44-42 loss to Los Angeles on Sunday . That Allen's latest superhuman-like effort ended in defeat is what’s troubling for the five-time defending AFC East champions (10-3) in their bid to dispel questions of finding ways to fall short in the playoffs in each of the past five years. Buffalo’s defense had few answers in stopping the Rams’ dynamic attack while allowing a season-high 457 yards. Worse still, the Bills allowed Los Angeles to go 11 of 15 on third down for a 73.3 conversion percentage — the third highest allowed by Buffalo and worst since allowing Miami's 75% conversion rate in 1986. If that’s not bad enough, the Bills lost for the first time in 39 games in which they scored at least 42 points, while becoming the NFL’s second team to lose when scoring 42 or more and not committing a turnover. Special teams didn’t help. Aside from allowing a blocked punt to be returned for a touchdown, the Bills couldn’t muster an attempt to block the Rams’ final punt from midfield with 7 seconds left because they only had nine players on the field. As coach Sean McDermott concluded after finally addressing reporters more than an hour after the game ended: “I thought we lost two of the three phases today.” He failed to mention yet another clock management misstep. Rather than have Allen spike the ball to stop the clock after a failed quarterback keeper from the Rams 1 with 62 seconds remaining, McDermott called timeout. That left Buffalo with two timeouts and essentially relying on the slim chances of recovering an onside kick after Allen scored on his next attempt. McDermott defended his decision by saying he feared too much time would elapse before the Bills aligned for another snap. And yet, it would not have matched the 45 seconds the Rams ran off on their final possession after Buffalo used its final two timeouts. Together, these are the types of miscues that have haunted the Bills in their recent playoff losses. The bright side is the loss to the Rams didn’t end the Bills’ season, though they fell two games behind Kansas City (12-1) in the race for the AFC’s top seed . And perhaps, the loss can be chalked up to a team riding a little too high off a playoff-clinching win and having to travel across the country to face a Rams team in the thick of its divisional race. If that’s so, the Bills have a chance to address their flaws — and doubters — by how they respond in what still stands as a juicy showdown at the NFC-leading Detroit Lions (12-1) on Sunday. “They’re the top dog in football right now,” Allen said, looking ahead to Detroit. “We have to have a good week, learn from this one, and put it behind us.” Scoring. The Bills topped 30 points for a team-record seventh consecutive game and ninth time this season. Buffalo entered the day ranked second in the NFL averaging 30.5 points per outing, behind Detroit (32.1). Run defense. Though the Rams averaged just 3.3 yards per carry, they stuck with it in finishing with 137 yards, helping them enjoy a 17-minute edge in time of possession. Allen. If not for him, the Bills wouldn't have been in position to nearly overcome a 17-point fourth-quarter deficit. His 424 yards (342 passing and 82 rushing) accounted for all but 21 yards of Buffalo's total offense. With so many options, perhaps the focus falls on special teams coordinator Matthew Smiley. This is the second time in 13 months special teams personnel management became an issue. Buffalo was flagged for having too many men as time expired, providing Wil Lutz a second chance to hit a decisive field goal in sealing Denver's 24-22 win last season . Starting CB Rasul Douglas was sidelined by a knee injury. ... DE Casey Toohill injured his ribs. 80-1-1 — The Bills' record when scoring 38 or more points, including a 38-38 tie with Denver in 1960. Facing Detroit represents Buffalo's final major test before closing the season with two games against New England and hosting the New York Jets. AP NFL: https://apnews.com/hub/nfl
Indian football needs a poster boy, says Sudeva Delhi FC’s Anuj Gupta at News9 Global SummitStaffordshire 'murder': Doting dad stabbed to death on Christmas Day pictured
Japanese steakhouse/sushi bar Wu’s House opens in Naperville, coffee/pastry shop settling into Route 59 locationNGOs, activists cannot try to run country through PILs, Centre tells Supreme Court
None
Seibert misses an extra point late as the Commanders lose their 3rd in a row, 34-26 to the Cowboys
Montana women's basketball suffers blowout loss at undefeated Minnesota
SOUTH LEBANON - The Lebanese army and UNIFIL have completed preparations for a gradual deployment in Khiyam after clearing it of unexploded ordnance and redeploying in the checkpoints that had been evacuated before the Israeli ground incursion. Following the retreatment of the Israeli occupation forces from the outskirts of the border city towards Sarda in the Wazzani plain, dozens of families are waiting for the moment to reenter their war-ravaged city to retrieve the bodies of martyrs from the rubble and rebuild their homes. The redeployment of the Lebanese army in northern Khiyam coincided with an Israeli Hermes drone martyring 3 citizens who were checking their homes. Najib Mikati, the caretaker Lebanese Prime Minister, has described the attack as “a blatant betrayal that violates all the pledges made by the parties that sponsored the ceasefire agreement. The United States and France are required to declare a clear position on what happened and to curb the Israeli aggression.” The steadfast town of Khiyam has an honorable history of defending the Lebanese territory and confronting the Israeli enemy. Every inch of the land in Khiyam tells a story of heroism and the name of an honorable martyr is engraved on every stone. The city has suffered greatly as a result of the Israeli occupation since the 1982 invasion, when the enemy turned its military barracks into detention centers, and practiced the most heinous forms of torture until the liberation in 2000. During the 2006 war, the Khiyam plain was the cemetery of the Merkava. Khiyam proved to be resistant to defeat. Since October 2023, the heroic scene has been repeated as Khiyam has sacrificed its best heroes for the sake of Palestine. After Khiyam, the Lebanese army is expected to be redeployed in all eastern border towns as the enemy postpones the implementation of the truce within 60 days. It is doing what it failed to do during the war as it continues to bombard homes. In 72 hours, the Israeli enemy destroyed 80% of the capabilities of the Syrian army, which will need an entire generation to rebuild. Will the Lebanese army be able to protect Lebanon? It is not surprising that the Lebanese army will fail to do so as the Zionist-American colonialism does not want powerful armies in the region, plain and simple. Hence, Observers believe that the re-deployment of the Lebanese army will not prevent the continuation of Israeli violations. Since the withdrawal of the Syrian army from Lebanon in 2005, Lebanon’s pro-US political factions have prevented the Lebanese army from cooperating with any country that Washington does not like. The best evidence of this is what happened in 2008 when Vladimir Putin decided to give Lebanon MiG-29 fighter jets, tanks, and artillery with weapons and ammunition. Washington, however, quickly thwarted it along with various other offers. Instead of confronting the US-Israeli hegemony, Lebanese Army Commander Joseph Aoun presents himself as a presidential candidate who seeks not to anger Washington.
House Democrats who voted yes on NDAA lament transgender restrictionsArkansas visits skidding Miami in battle of veteran coaches