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Samsung to Slash Foldable Phone Production in 2025: Is the Foldable Hype Fading?Indiana got what it wanted Tuesday night in a 97-71 rout of Sam Houston State -- a lopsided victory where its bench played well and it didn't have to go down to the wire. The Hoosiers will look for more of the same Friday night in Bloomington when they continue their homestand against nonconference foe Miami (Ohio). Four players scored in double figures for Indiana (6-2) against the Bearkats, including 18 from reserve Luke Goode. The Illinois transfer hit four 3-pointers in less than four minutes of the first half, enabling the Hoosiers to take a 34-12 lead. Led by Goode, Indiana's bench contributed a whopping 36 points. "I thought it was a total team effort on everybody's part," Hoosiers coach Mike Woodson said. "Helps when your bench come off and play the way they did. Goode was fantastic but everybody off the bench played well." Indiana also got an encouraging 19-point performance from point guard Myles Rice, who struggled a bit in the first seven games in terms of making shots and running the offense. Rice (11.1 ppg) is one of four double-figure scorers in an attack led by Mackenzie Mgbako (16.8). Meanwhile, the RedHawks (5-2) are coming off a 73-60 home win Monday against Air Force. Bellarmine transfer Peter Suder poured in a career-high 42 points on 17-of-21 shooting, the highest-scoring game in program history since Wally Szczerbiak scored 43 in 1999. Suder, who averaged 10.5 ppg as a sophomore last season, is up to 17.4 ppg this season. He's hitting 58.8 percent of his field goals while also chipping in 4.0 rebounds, 3.0 assists and 1.6 steals. "I always say players win games, man. Coaches lose games," Miami coach Travis Steele told the Journal-News. "Peter was phenomenal. It was just get out of the way and just let him go." Forward Kam Craft, who Steele landed out of high school when he was still coaching at Xavier, is the RedHawks' second-leading scorer at 14.1 ppg. The Hoosiers have won 22 of the previous 25 meetings, including an 86-56 rout two years ago in Indianapolis. --Field Level Media
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Reports: Bill Belichick interviews for North Carolina job(CNN) — The Pentagon is unlikely to use all of the billions of dollars authorized by Congress to arm Ukraine before President Joe Biden leaves office, according to two US officials and three defense officials. The administration has less than two months left to use nearly $7 billion, part of a larger package authorized by Congress earlier this year to help Ukraine in the war with Russia. The funding allows the Defense Department to draw from its own stockpiles to send weapons, but shortages have limited how much the US can send to Kyiv in recent months. For months, the US has run into the limits of its ability to replenish its own weapons inventories, which limited what the Biden administration has been able to send Ukraine. The US has been growing its capacity to produce critical munitions, such as 155mm artillery shells, since virtually the beginning of the war nearly three years ago, but the ramp up in production is not yet complete. The Pentagon had pledged to use all of the remaining authority to provide the military aid as the situation has grown more urgent given the size of Russian attacks on Ukraine, including the recent first-time use of an intermediate-range ballistic missile with multiple warheads. The Wall Street Journal first reported the news. Last week, deputy Pentagon press secretary Sabrina Singh said the administration is “committed to using the full authority that Congress has allotted to us.” State Department officials briefed Congress this month that the administration is still working to allocate the remaining funds, according to a congressional source familiar with the matter. But with only 55 days left until President-elect Donald Trump takes office, the US still has $6.8 billion left in authority to ship weapons directly from US inventories to Ukraine. Trump is unlikely to continue providing the same level support to Kyiv, and CNN reported Wednesday that his pick to be national security adviser, Mike Waltz, is weighing several proposals to end a war that the president-elect claimed on the campaign trail he could end in one day. In the time the administration has left, one defense official said the size of the individual military aid packages is likely to increase but acknowledged using the remaining funds within such a short time is “going to be a challenge.” Earlier Wednesday, a senior Biden administration official said Ukraine should lower the recruiting age for its military to 18 years old from where it currently stands at 25, calling the need “critical.” The official argued that the most urgent need is not weapons but fresh manpower to train so that current troops can be rotated out and those who have been killed can be replaced. “As you look at the battlefront and the needs, the progress that the Russians have made, particularly in the east, the physics of it, the pure math of it is you need bodies,” said the official. “You need manpower. You need soldiers.” The US has been able to authorize military aid packages totaling approximately $750 million per month recently, according to one US official. This fall, DoD increased the size of the military aid packages at the request of Biden and national security adviser Jake Sullivan, the official said. “We’re basically trying to do everything we can to leave everything on the table and put Ukraine in the strongest position,” the official said. Now, the administration is working to increase that amount to about $1 billion per month in the time remaining, a second US official said, but that will still leave billions unused. Both officials said there are still large quantities of weapons and equipment that will arrive in Ukraine before the start of the Trump administration on January 20, including hundreds of air defense missiles. Then it will be up to the new administration to decide whether to continue to flow weapons to Kyiv or use the remaining authority to send new military aid packages. In September, Biden committed billions of dollars in military aid to Ukraine as President Volodymyr Zelensky visited the White House. But the US was not able to send all of the aid at once, instead breaking it down into smaller packages announced approximately every two weeks. “As part of the surge in security assistance that President Biden announced on September 26, the Department remains committed to providing Ukraine with the capabilities it needs to fight Russian aggression through the end of the Administration,” a defense official told CNN. The Biden administration has continued to announce military aid packages twice a month, but the US is still far short of the pace required to use the remaining money. In the previous two months, the US announced a total of $1.9 billion in Ukraine assistance across five different aid packages, a number that would have to triple to use what’s left to give from the Biden administration. The last package, announced on November 20, was worth $275 million and included much-needed artillery rounds and drones. Biden led a concerted effort to convince some skeptical Republicans in Congress, including House Speaker Mike Johnson, to pass a supplemental funding bill in April that included $61 billion in aid for Ukraine. “It’s going to make America safer. It’s going to make the world safer. And it continues America’s leadership in the world,” Biden said upon signing the bill on April 24. The US announced a $1 billion military aid package for Ukraine that same day. But the value of aid packages quickly dipped , as the stockpiles of weapons and equipment the Pentagon was able to send Kyiv dwindled. The-CNN-Wire TM & © 2024 Cable News Network, Inc., a Warner Bros. Discovery Company. All rights reserved.
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NASA's stuck astronauts hit 6 months in space. Just 2 more to goIllinois Gov. J.B. Pritzker signed Public Act 103-0879, amending the Illinois Right to Privacy in the Workplace Act, late this summer. The act imposes new responsibilities on Illinois employers pertinent to E-Verify and workplace verification and also preempts local government requirements. It goes into effect Jan. 1, 2025. Some of the act’s amendment provisions are: Preempting the state, its political subdivisions, or any unit of local government from requiring an employer to use E-Verify Establishing new training obligations for employers and their authorized agents when enrolling in E-Verify Establishing new procedures that employers enrolled in E-Verify must follow when receiving Tentative Non-Confirmations (TNCs) or no-match letters from agencies such as the Social Security Administration Specific procedures to comply with state law when an inspecting entity (such as U.S. Immigration and Customs Enforcement) conducts an I-9 audit While public reporting described this legislation as an attempt by Illinois to bar the use of E-Verify unless required by federal law, the Illinois Department of Labor issued a fact sheet/FAQ clarifying that the act doesn’t restrict an employer’s ability to participate in E-Verify, but requires an employer to comply with the act’s requirements when doing so. Illinois’ amended act adds to a growing patchwork of state E-Verify laws, making compliance more challenging for U.S. employers operating across multiple states. Some states, such as Florida and Tennessee, mandate the use of E-Verify for most employers operating within the state. Others, such as Indiana, require certain employers to participate in E-Verify. The Illinois law, which goes into effect on Jan. 1, 2025, comes at a time when federal immigration enforcement is expected to increase upon President-elect Donald Trump’s January inauguration.Ravens running back Derrick Henry responded to Chargers linebacker Khalil Mack's comment that it's "not hard" to play Henry.LightPath Technologies Introduces New Optical Gas Imaging Camera for Ammonia and SF6 Detection
IBM in advanced talks to lease 260,000 sq ft at Gurugram's TRIL Tower amid India's office leasing boomPITTSBURGH , Dec. 2, 2024 /PRNewswire/ -- The Board of Directors of Wesco International (NYSE: WCC) today declared a quarterly cash dividend on all of the issued and outstanding shares of common stock, in an amount equal to $0.4125 per share. The dividend is payable on December 31, 2024 to the holders of record of the common stock at the close of business on December 13, 2024 . In addition, the Board of Directors declared cash dividends on the company's 10.625% Series A Fixed-Rate Reset Cumulative Perpetual Preferred Stock for the period October 1, 2024 through December 31, 2024 . The dividend is $664.0625 per preferred share, or $0.6640625 per depository share, and is payable on December 31, 2024 to holders of record at the close of business on December 13, 2024 . About Wesco Wesco International (NYSE: WCC) builds, connects, powers and protects the world. Headquartered in Pittsburgh, Pennsylvania , Wesco is a FORTUNE 500 ® company with $22 billion in annual sales and a leading provider of business-to-business distribution, logistics services and supply chain solutions. Wesco offers a best-in-class product and services portfolio of Electrical and Electronic Solutions, Communications and Security Solutions, and Utility and Broadband Solutions. The Company employs approximately 20,000 people, partners with the industry's premier suppliers, and serves thousands of customers around the world. With millions of products, end-to-end supply chain services, and leading digital capabilities, Wesco provides innovative solutions to meet customer needs across commercial and industrial businesses, contractors, government agencies, educational institutions, telecommunications providers, and utilities. Wesco operates nearly 800 branches, warehouses and sales offices in more than 50 countries, providing a local presence for customers and a global network to serve multi-location businesses and global corporations. Contact Information Investor Relations Will Ruthrauff Director, Investor Relations 484-885-5648 Corporate Communications Jennifer Sniderman Vice President, Corporate Communications 717-579-6603 View original content to download multimedia: https://www.prnewswire.com/news-releases/wesco-declares-quarterly-dividend-on-common-stock-and-preferred-stock-302319822.html SOURCE Wesco InternationalSteam's new free game is already blowing up, and it looks gorgeous - GAMINGbible
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BOLINGBROOK, Ill.--(BUSINESS WIRE)--Dec 5, 2024-- Ulta Beauty, Inc. (NASDAQ: ULTA) today announced financial results for the thirteen-week period (“third quarter”) and thirty-nine-week period (“first nine months”) ended November 2, 2024 compared to the same periods ended October 28, 2023. 13 Weeks Ended 39 Weeks Ended November 2, October 28, November 2, October 28, (Dollars in millions, except per share data) 2024 2023 2024 2023 Net sales $ 2,530.1 $ 2,488.9 $ 7,808.0 $ 7,653.0 Comparable sales (1) 0.6% 4.5% 0.3% 7.3% Gross profit (as a percentage of net sales) 39.7% 39.9% 39.1% 39.7% Selling, general and administrative expenses $ 682.3 $ 661.4 $ 1,993.0 $ 1,874.2 Operating income (as a percentage of net sales) 12.6% 13.1% 13.4% 15.2% Diluted earnings per share $ 5.14 $ 5.07 $ 16.93 $ 17.99 New store openings, net 26 12 52 19 (1) Comparable sales are calculated based on the comparable 13 and 39 calendar weeks in the current and prior year. “The Ulta Beauty team delivered better-than-expected sales and profitability reflecting improved sales trends and strong financial discipline. I am proud of the progress we’ve made and encouraged by early signs that our efforts to reinforce our market position and drive improved performance are gaining traction. As we look to the remainder of fiscal 2024, we are focused on executing with excellence across our key initiatives to deliver in a dynamic environment,” said Dave Kimbell, chief executive officer. “We remain confident that our model and strategies will drive long-term profitable growth and share leadership by enhancing our position as the destination for beauty enthusiasts for a lifetime.” Third Quarter of Fiscal 2024 Compared to Third Quarter of Fiscal 2023 First Nine Months of Fiscal 2024 Compared to First Nine Months of Fiscal 2023 Balance Sheet Cash and cash equivalents at the end of the third quarter of fiscal 2024 totaled $177.8 million. Merchandise inventories, net at the end of the third quarter of fiscal 2024 increased 1.9% to $2.4 billion compared to $2.3 billion at the end of the third quarter of fiscal 2023. The increase was primarily due to the addition of 63 net new stores since October 28, 2023. Short-term debt at the end of the third quarter of fiscal 2024 was $199.7 million compared to $195.4 million at the end of the third quarter of fiscal 2023, as the Company drew on its revolving credit facility to support ongoing capital allocation priorities, including share repurchases and capital expenditures, and merchandise inventory growth. Share Repurchase Program During the third quarter of fiscal 2024, the Company repurchased 731,458 shares of its common stock at a cost of $267.0 million. During the first nine months of fiscal 2024, the Company repurchased 1.9 million shares of its common stock at a cost of $764.5 million. As of November 2, 2024, $2.9 billion remained available under the $3.0 billion share repurchase program announced in October 2024. Store Update During the third quarter of fiscal 2024, the Company opened 28 new stores, remodeled 27 stores, and closed two stores. During the first nine months of fiscal 2024, the Company opened 57 new stores, relocated two stores, remodeled 36 stores, and closed five stores. At the end of the third quarter of fiscal 2024, the Company operated 1,437 stores totaling 15.0 million square feet. Fiscal 2024 Outlook For fiscal 2024, the Company plans to: Prior FY24 Outlook Updated FY24 Outlook Net sales $11.0 billion to $11.2 billion $11.1 billion to $11.2 billion Comparable sales (2%) to 0% (1%) to 0% New stores, net 60-65 no change Remodel and relocation projects 40-45 no change Operating margin 12.7% to 13.0% 12.9% to 13.1% Diluted earnings per share $22.60 to $23.50 $23.20 to $23.75 Share repurchases approximately $1 billion no change Interest income approximately $13 million $13 million to $14 million Effective tax rate approximately 24% no change Capital expenditures $400 million to $450 million $400 million to $425 million Depreciation and amortization expense $265 million to $270 million no change Conference Call Information A conference call to discuss third quarter of fiscal 2024 results is scheduled for today, December 5, 2024 at 4:30 p.m. ET / 3:30 p.m. CT. Investors and analysts who are interested in participating in the call are invited to dial (877) 704-4453. Participants may also listen to a real-time audio webcast of the conference call by visiting the Investor Relations section of the Company’s website located at https://www.ulta.com/investor . A replay will be made available online approximately two hours following the live call for a period of 30 days. About Ulta Beauty At Ulta Beauty (NASDAQ: ULTA), the possibilities are beautiful. Ulta Beauty is the largest specialty U.S. beauty retailer and the premier beauty destination for cosmetics, fragrance, skin care products, hair care products and salon services. In 1990, the Company reinvented the beauty retail experience by offering a new way to shop for beauty – bringing together All Things Beauty. All in One Place ®. Today, Ulta Beauty operates 1,437 retail stores across 50 states and also distributes its products through its website, which includes a collection of tips, tutorials, and social content. For more information, visit www.ulta.com . Forward‐Looking Statements This press release contains forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, which reflect the Company’s current views with respect to, among other things, future events and financial performance. These statements can be identified by the use of forward-looking words such as “outlook,” “believes,” “expects,” “plans,” “estimates,” “targets,” “strategies” or other comparable words. Any forward-looking statements contained in this press release are based upon the Company’s historical performance and on current plans, estimates and expectations. The inclusion of this forward-looking information should not be regarded as a representation by the Company or any other person that the future plans, estimates, targets, strategies or expectations contemplated by the Company will be achieved. Such forward-looking statements are subject to various risks and uncertainties, which include, without limitation: The Company’s filings with the SEC are available at www.sec.gov . Except to the extent required by the federal securities laws, the Company does not undertake to publicly update or revise its forward-looking statements, whether as a result of new information, future events or otherwise. Exhibit 1 Ulta Beauty, Inc. Consolidated Statements of Income (In thousands, except per share data) 13 Weeks Ended November 2, October 28, 2024 2023 (Unaudited) (Unaudited) Net sales $ 2,530,100 100.0 % $ 2,488,933 100.0 % Cost of sales 1,524,456 60.3 % 1,496,866 60.1 % Gross profit 1,005,644 39.7 % 992,067 39.9 % Selling, general and administrative expenses 682,259 27.0 % 661,380 26.6 % Pre-opening expenses 4,883 0.2 % 3,460 0.1 % Operating income 318,502 12.6 % 327,227 13.1 % Interest income, net (1,674 ) (0.1 %) (2,497 ) (0.1 %) Income before income taxes 320,176 12.7 % 329,724 13.2 % Income tax expense 77,997 3.1 % 80,241 3.2 % Net income $ 242,179 9.6 % $ 249,483 10.0 % Net income per common share: Basic $ 5.16 $ 5.09 Diluted $ 5.14 $ 5.07 Weighted average common shares outstanding: Basic 46,928 49,007 Diluted 47,092 49,226 Exhibit 2 Ulta Beauty, Inc. Consolidated Statements of Income (In thousands, except per share data) 39 Weeks Ended November 2, October 28, 2024 2023 (Unaudited) (Unaudited) Net sales $ 7,808,035 100.0 % $ 7,653,005 100.0 % Cost of sales 4,754,434 60.9 % 4,612,469 60.3 % Gross profit 3,053,601 39.1 % 3,040,536 39.7 % Selling, general and administrative expenses 1,992,993 25.5 % 1,874,201 24.5 % Pre-opening expenses 11,957 0.2 % 5,396 0.1 % Operating income 1,048,651 13.4 % 1,160,939 15.2 % Interest income, net (13,100 ) (0.2 %) (14,294 ) (0.2 %) Income before income taxes 1,061,751 13.6 % 1,175,233 15.4 % Income tax expense 253,903 3.3 % 278,597 3.6 % Net income $ 807,848 10.3 % $ 896,636 11.7 % Net income per common share: Basic $ 17.00 $ 18.08 Diluted $ 16.93 $ 17.99 Weighted average common shares outstanding: Basic 47,519 49,592 Diluted 47,710 49,846 Exhibit 3 Ulta Beauty, Inc. Condensed Consolidated Balance Sheets (In thousands) November 2, February 3, October 28, 2024 2024 2023 (Unaudited) (Unaudited) Assets Current assets: Cash and cash equivalents $ 177,782 $ 766,594 $ 121,811 Receivables, net 213,621 207,939 202,868 Merchandise inventories, net 2,365,186 1,742,136 2,321,306 Prepaid expenses and other current assets 135,514 115,598 117,282 Prepaid income taxes 62,759 4,251 28,773 Total current assets 2,954,862 2,836,518 2,792,040 Property and equipment, net 1,264,419 1,182,335 1,117,874 Operating lease assets 1,619,055 1,574,530 1,578,316 Goodwill 10,870 10,870 10,870 Other intangible assets, net 281 510 591 Deferred compensation plan assets 48,872 43,516 38,371 Other long-term assets 60,127 58,732 56,946 Total assets $ 5,958,486 $ 5,707,011 $ 5,595,008 Liabilities and stockholders’ equity Current liabilities: Accounts payable $ 593,219 $ 544,001 $ 597,373 Accrued liabilities 333,463 382,468 405,443 Deferred revenue 405,040 436,591 350,937 Current operating lease liabilities 284,985 283,821 287,786 Accrued income taxes — 11,310 — Short-term debt 199,700 — 195,400 Total current liabilities 1,816,407 1,658,191 1,836,939 Non-current operating lease liabilities 1,656,317 1,627,271 1,616,747 Deferred income taxes 91,729 85,921 56,874 Other long-term liabilities 65,024 56,300 55,906 Total liabilities 3,629,477 3,427,683 3,566,466 Commitments and contingencies Total stockholders’ equity 2,329,009 2,279,328 2,028,542 Total liabilities and stockholders’ equity $ 5,958,486 $ 5,707,011 $ 5,595,008 Exhibit 4 Ulta Beauty, Inc. Condensed Consolidated Statements of Cash Flows (In thousands) 39 Weeks Ended November 2, October 28, 2024 2023 (Unaudited) (Unaudited) Operating activities Net income $ 807,848 $ 896,636 Adjustments to reconcile net income to net cash provided by operating activities: Depreciation and amortization 197,075 181,273 Non-cash lease expense 235,950 232,772 Deferred income taxes 5,808 1,528 Stock-based compensation expense 27,691 33,477 Loss on disposal of property and equipment 7,280 6,310 Change in operating assets and liabilities: Receivables (5,682 ) (3,446 ) Merchandise inventories (623,050 ) (717,855 ) Prepaid expenses and other current assets (19,916 ) 12,964 Income taxes (69,818 ) 9,535 Accounts payable 54,210 41,817 Accrued liabilities (45,777 ) (34,955 ) Deferred revenue (31,551 ) (43,740 ) Operating lease liabilities (250,267 ) (248,469 ) Other assets and liabilities 12,240 (9,836 ) Net cash provided by operating activities 302,041 358,011 Investing activities Capital expenditures (300,536 ) (311,030 ) Other investments (6,108 ) (4,870 ) Net cash used in investing activities (306,644 ) (315,900 ) Financing activities Borrowings from credit facility 199,700 195,400 Repurchase of common shares (765,384 ) (840,551 ) Stock options exercised 9,200 9,302 Purchase of treasury shares (23,566 ) (22,328 ) Debt issuance costs (4,159 ) — Net cash used in financing activities (584,209 ) (658,177 ) Net decrease in cash and cash equivalents (588,812 ) (616,066 ) Cash and cash equivalents at beginning of period 766,594 737,877 Cash and cash equivalents at end of period $ 177,782 $ 121,811 Exhibit 5 Ulta Beauty, Inc. Store Update Total stores open Number of stores Number of stores Total stores at beginning of the opened during the closed during the open at Fiscal 2024 quarter quarter quarter end of the quarter 1 st Quarter 1,385 12 2 1,395 2 nd Quarter 1,395 17 1 1,411 3 rd Quarter 1,411 28 2 1,437 Gross square feet for Total gross square stores opened or Gross square feet for Total gross square feet at beginning of expanded during the stores closed feet at end of the Fiscal 2024 the quarter quarter during the quarter quarter 1 st Quarter 14,515,593 114,786 15,615 14,614,764 2 nd Quarter 14,614,764 178,624 10,800 14,782,588 3 rd Quarter 14,782,588 258,320 20,083 15,020,825 Exhibit 6 Ulta Beauty, Inc. Sales by Category The following tables set forth the approximate percentage of net sales by primary category: 13 Weeks Ended November 2, October 28, 2024 2023 Cosmetics 41 % 42 % Skincare 23 % 22 % Haircare 20 % 21 % Fragrance 10 % 9 % Services 4 % 4 % Other 2 % 2 % 100 % 100 % 39 Weeks Ended November 2, October 28, 2024 2023 Cosmetics 41 % 42 % Skincare 24 % 22 % Haircare 19 % 21 % Fragrance 10 % 9 % Services 4 % 4 % Other 2 % 2 % 100 % 100 % Certain sales departments were reclassified between categories in the prior year to conform to current year presentation, including moving the bath category from Fragrance to Skincare. View source version on businesswire.com : https://www.businesswire.com/news/home/20241205470535/en/ CONTACT: Investor Contact: Kiley Rawlins, CFA Vice President, Investor Relations krawlins@ulta.comMedia Contact: Crystal Carroll Senior Director, Public Relations ccarroll@ulta.com KEYWORD: UNITED STATES NORTH AMERICA ILLINOIS INDUSTRY KEYWORD: COSMETICS RETAIL SPECIALTY SOURCE: Ulta Beauty, 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/20241205470535/en