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LOS ANGELES (AP) — Southern California quarterback Miller Moss is entering the transfer portal after losing the Trojans' starting job last month. Moss made his announcement on social media Monday. Moss started the Trojans ' bowl victory last season and their first nine games this season before coach Lincoln Riley replaced him with Jayden Maiava in early November. “Being a USC Trojan was a lifelong dream of mine,” Moss wrote. “Putting on the cardinal and gold and competing on behalf of my teammates and school is something I will forever take pride in. I poured everything I have into this — body, heart, mind and soul — and am humbled by and proud of what my teammates and I accomplished.” Moss, who was born in Los Angeles and went to high school in the San Fernando Valley, signed with USC before Riley arrived at the school. Moss also stayed with the Trojans after Caleb Williams transferred from Oklahoma to rejoin Riley, and he served as Williams’ backup for two seasons before getting his chance to play with six touchdown passes in last year's Holiday Bowl. Moss completed 64.4% of his passes this season for 2,555 yards with 18 touchdowns and nine interceptions. After a spectacular 378-yard performance to beat LSU in the Trojans' season opener, Moss didn't play poorly as a starter, but he also wasn't a difference-maker while USC stumbled to a 4-5 record. Moss threw seven interceptions in his final five starts before losing the job to Maiava. The Trojans went 1-4 in that stretch under Moss, who plays as a more traditional pocket passer while Maiava has the mobility usually favored for quarterbacks in Riley's spread offense. “Looking towards the future, I'm unwaveringly committed to becoming an even better quarterback and leader, and to achieving this at the next level,” Moss wrote. Moss has already graduated from USC, putting him in the portal as a graduate student. USC (6-6) is headed to a lower-tier bowl game again to finish this season, its third under Riley. AP college football: https://apnews.com/hub/ap-top-25-college-football-poll and https://apnews.com/hub/college-footballNoneATLANTA — Already reeling from their November defeats, Democrats now are grappling with President Joe Biden’s pardoning of his son for federal crimes, with some calling the move misguided and unwise after the party spent years slamming Donald Trump as a threat to democracy who disregarded the law. The president pardoned Hunter Biden late Sunday evening, reversing his previous pledges with a grant of clemency that covers more than a decade of any federal crimes his son might have committed. The 82-year-old president said in a statement that his son’s prosecution on charges of tax evasion and falsifying a federal weapons purchase form were politically motivated. “He believes in the justice system, but he also believes that politics infected the process and led to a miscarriage of justice,” said White House press secretary Karine Jean-Pierre, who along with Biden and other White House officials insisted for months that Hunter Biden would not get a pardon. That explanation did not satisfy some Democrats, angry that Biden’s reversal could make it harder to take on Trump, who has argued that multiple indictments and one conviction against him were a matter of Biden and Democrats turning the justice system against him. “This is a bad precedent that could be abused by later Presidents and will sadly tarnish his reputation,” Colorado Gov. Jared Polis wrote of Biden on the social media platform X. “When you become President, your role is Pater familias of the nation,” the governor continued, a reference to the president invoking fatherhood in explaining his decision. “Hunter brought the legal trouble he faced on himself, and one can sympathize with his struggles while also acknowledging that no one is above the law, not a President and not a President’s son.” Rep. Greg Stanton, D-Ariz., said on X: “This wasn’t a politically motivated prosecution. Hunter committed felonies and was convicted by a jury of his peers.” Colorado Sen. Michael Bennet said Biden “put personal interest ahead of duty” with a decision that “further erodes Americans’ faith that the justice system is fair and equal for all.” Michigan Sen. Gary Peters said the pardon was “an improper use of power” that erodes faith in government and “emboldens others to bend justice to suit their interests.” Sen. Peter Welch, D-Vt., called the pardon “understandable” if viewed only as the “action of a loving father.” But Biden’s status as “our nation’s Chief Executive,” the senator said, rendered the move “unwise.” Certainly, the president has Democratic defenders who note Trump’s use of presidential power to pardon a slew of his convicted aides, associates and friends, several for activities tied to Trump’s campaign and first administration. “Trump pardoned Roger Stone, Steve Bannon, Michael Flynn and Paul Manafort, as well as his son-in-law’s father, Charles Kushner — who he just appointed US ambassador to France,” wrote prominent Democratic fundraiser Jon Cooper on X. Democratic National Committee Chairman Jaime Harrison said there “is no standard for Donald Trump, and the highest standard for Democrats and Joe Biden.” Harrison pointed to Trump’s apparent plans to oust FBI Director Christopher Wray and replace him with loyalist Kash Patel and suggested the GOP’s pursuit of Hunter Biden would not have ended without clemency. “Most people will see that Joe Biden did what was right,” Harrison said. First lady Jill Biden said Monday from the White House, “Of course I support the pardon of my son.” Democrats already are facing the prospects of a Republican trifecta in Washington, with voters returning Trump to the White House and giving the GOP control of the House and Senate. Part of their argument against Trump and Republican leaders is expected to be that the president-elect is violating norms with his talk of taking retribution against his enemies. Before beating Vice President Kamala Harris, Trump faced his own legal troubles, including two cases that stemmed from his efforts to overturn his defeat to Joe Biden in the 2020 presidential election. Those cases, including Trump’s sentencing after being convicted on New York state business fraud charges, have either been dismissed or indefinitely delayed since Trump’s victory on Nov. 5, forcing Democrats to recalibrate their approach to the president-elect. In June, President Biden firmly ruled out a pardon or commutation for his son, telling reporters as his son faced trial in the Delaware gun case: “I abide by the jury decision. I will do that and I will not pardon him.” As recently as Nov. 8, days after Trump’s victory, Jean-Pierre ruled out a pardon or clemency for the younger Biden, saying: “We’ve been asked that question multiple times. Our answer stands, which is no.” The president’s about-face came weeks before Hunter Biden was set to receive his punishment after his trial conviction in the gun case and guilty plea on tax charges. It capped a long-running legal saga for the younger Biden, who disclosed he was under federal investigation in December 2020 — a month after his father’s 2020 victory. The sweeping pardon covers not just the gun and tax offenses against the younger Biden, but also any other “offenses against the United States which he has committed or may have committed or taken part in during the period from January 1, 2014, through December 1, 2024.” Hunter Biden was convicted in June in Delaware federal court of three felonies for purchasing a gun in 2018 when , prosecutors said, he lied on a federal form by claiming he was not illegally using or addicted to drugs. He had been set to stand trial in September in a California case accusing him of failing to pay at least $1.4 million in taxes. But he agreed to plead guilty to misdemeanor and felony charges in a surprise move hours after jury selection was set to begin. In his statement Sunday, the president argued that such offenses typically are not prosecuted with the same vigor as was directed against Hunter Biden. “The charges in his cases came about only after several of my political opponents in Congress instigated them to attack me and oppose my election,” Biden said in his statement. “No reasonable person who looks at the facts of Hunter’s cases can reach any other conclusion than Hunter was singled out only because he is my son. ... I hope Americans will understand why a father and a President would come to this decision.” Associated Press journalists Will Weissert aboard Air Force One and Darlene Superville, Mary Claire Jalonick and Michael Tackett in Washington contributed to this report.Nikolaj Ehlers has moved past the day-to-day stage, but by all accounts, the Winnipeg Jets high-scoring winger isn’t going to be out long term. Read this article for free: Already have an account? To continue reading, please subscribe: * Nikolaj Ehlers has moved past the day-to-day stage, but by all accounts, the Winnipeg Jets high-scoring winger isn’t going to be out long term. Read unlimited articles for free today: Already have an account? Nikolaj Ehlers has moved past the day-to-day stage, but by all accounts, the Winnipeg Jets high-scoring winger isn’t going to be out long term. The Danish forward suffered a lower-body injury in the second period of Friday’s game with the Vegas Golden Knights after a collision with Pavel Dorofeyev where he appeared to injure his left leg. Ehlers was placed on injured reserve Tuesday morning, retroactive to Nov. 29, though he’s likely to be out until at least the Jets return from the upcoming two-game road swing with games against the Buffalo Sabres and Chicago Blackhawks — though the timeline is fluid. Bailey Hillesheim / The Associated Press files Jets centre Brad Lambert (left) had an assist in his NHL regular-season debut last spring. “A little bit worse than at first (suspected), but we’ll just see,” Jets head coach Scott Arniel said before his team took on the St. Louis Blues. “He’ll probably be out a week to 10 days. But hopefully less than that. We’ll just kind of monitor him every day.” Ehlers, who is a pending unrestricted free agent on July 1, is off to one of the strongest starts of his career and went into Tuesday’s action with nine goals and 25 points in 24 games, which leaves him third in team scoring. He’s provided a boost to the Jets’ top power-play unit, chipping in three goals and eight points with a man-advantage that has been the best in the NHL until recently, when it slipped to second behind the New Jersey Devils. The loss of Ehlers opened the door for the Jets to recall forward Brad Lambert from the Manitoba Moose of the American Hockey League and he jumped into the lineup immediately, starting the game on a line with Gabe Vilardi and Cole Perfetti. “Obviously it’s nice to have one game under your belt,” said Lambert, who had an assist and two shots on goal in his NHL debut in just under 14 minutes of ice time last April against the Vancouver Canucks. “When I got the call, I was just excited as I was coming into my first game last year. Super pumped and excited.” Lambert had a steady training camp, but didn’t do enough to steal a job on the NHL roster, but he went down to the minors and got off to a steady start — recording three goals and 11 points in 16 games with the Moose. “Just learning every day, getting better every day,” said Lambert, who turns 21 on Dec. 19. “I think just being around the guys has helped a lot, just seeing how they do things. You can take a lot from that. Just maturing and developing every day. Trying to get better on and off the ice.” No matter how long Ehlers is sidelined, this is a massive opportunity for Lambert to take the next step in his development. “Really skilled guy,” said Vilardi, noting he skated with Lambert during his NHL debut in Game 82 last season against the Vancouver Canucks. “Really fast. He thinks the game at an elite level, and hopefully we can get some chemistry going.” Lambert was brought into the lineup at his natural position of centre, a spot he should be able to best utilize his speed and explosiveness. “It’s awesome, that’s where I’ve been playing all year. So that’s where I’m comfortable,” said Lambert, who was chosen 30th overall by the Jets in the 2022 NHL Draft. “Obviously this team has been great on the defensive side. Make sure I’m responsible back in my own end, and just with the puck try to play my game, chip in and try to create.” The Moose are off to a 6-11 start this season, though Lambert continues to make strides in his overall game. “We’re still trying to find that consistency. It’s been kind of an up and down start. I’ve had some good games, some not so good games,” said Lambert. “I feel strong, I feel fast, I’m feeling good in the corners. The puck battles, obviously second year pro here in North America, so a little more comfortable.” Arniel was expecting Lambert to feel some nerves in his second NHL game, though he’s noticed ample growth in the Finnish forward’s game since his first training camp in the fall of 2022. “Get him in and get him a chance to see what he can do,” said Arniel. “It’s (about) him coming up and doing what he needs to do best. He’s a skater, he’s got great offensive instincts. There’s stuff we’ll go over about how we play without the puck, but this is the opportunity. Winnipeg Jets Game Days On Winnipeg Jets game days, hockey writers Mike McIntyre and Ken Wiebe send news, notes and quotes from the morning skate, as well as injury updates and lineup decisions. Arrives a few hours prior to puck drop. “He got a sniff last year at the end of the year. This is an opportunity for him again to go out and show the organization, his teammates, that he can help us.” Speaking of injuries, Arniel doesn’t have an update on the timeline for defenceman Dylan Samberg, who missed his fourth consecutive game on Tuesday with a broken foot. “The swelling’s gone down quite a bit. But he has a broken bone. No idea (on the timeline), that just has to heal,” said Arniel. “Usually on a broken bone you’ll get to four weeks and then we’ll kind of take it from there.” ken.wiebe@freepress.mb.ca X and BlueSky: @WiebesWorld Ken Wiebe is a sports reporter for the , with an emphasis on the Winnipeg Jets. He has covered hockey and provided analysis in this market since 2000 for the , , Sportsnet.ca and TSN. Ken was a summer intern at the in 1999 and returned to the in a full-time capacity in September of 2023. . Every piece of reporting Ken produces is reviewed by an editing team before it is posted online or published in print — part of the ‘s tradition, since 1872, of producing reliable independent journalism. Read more about , and . Our newsroom depends on a growing audience of readers to power our journalism. If you are not a paid reader, please consider . Our newsroom depends on its audience of readers to power our journalism. Thank you for your support. Ken Wiebe is a sports reporter for the , with an emphasis on the Winnipeg Jets. He has covered hockey and provided analysis in this market since 2000 for the , , Sportsnet.ca and TSN. Ken was a summer intern at the in 1999 and returned to the in a full-time capacity in September of 2023. . Every piece of reporting Ken produces is reviewed by an editing team before it is posted online or published in print — part of the ‘s tradition, since 1872, of producing reliable independent journalism. Read more about , and . Our newsroom depends on a growing audience of readers to power our journalism. If you are not a paid reader, please consider . Our newsroom depends on its audience of readers to power our journalism. Thank you for your support. Advertisement Advertisementph slotbet 。

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WEST JORDAN, Utah, Dec. 10, 2024 (GLOBE NEWSWIRE) -- Sportsman's Warehouse Holdings, Inc. ("Sportsman's Warehouse" or the "Company") SPWH today announced third quarter financial results for the thirteen and thirty-nine weeks ended November 2, 2024. "Despite a pressured consumer and complex macroeconomic environment, we focused our efforts on driving sales and achieved growth in our fishing, camping and gift bar categories during the quarter," said Paul Stone, Sportsman's Warehouse President and Chief Executive Officer. "We continue to make progress on our business reset initiatives with a focus on improved in-stocks, in-store and online customer experience and our Great Gear | Great Service program." "To improve our holiday relevancy and drive traffic during the season, we introduced an omni-channel marketing campaign highlighting gear perfect for gifting or for treating yourself, primarily centered around value," continued Stone. "This is a new approach to engaging our customers, which we coupled with an upgraded store experience creating a fully integrated customer experience. As we move through the balance of the holiday season and navigate a pressured consumer environment, we'll continue to prioritize traffic-driving marketing and product pricing initiatives, exceptional customer service and prudent inventory management. Emphasizing the balance sheet and ending the year with positive free cash flow remain our primary objectives." For the thirteen weeks ended November 2, 2024: Net sales were $324.3 million, a decrease of 4.8%, compared to $340.6 million in the third quarter of fiscal year 2023. The net sales decrease was primarily due to the continued impact of consumer inflationary pressures on discretionary spending, resulting in a decline in store traffic and lower demand across most product categories, particularly in ammunition, apparel and footwear. This decrease, however, was partially offset by year-over-year sales growth in our fishing, camping and optics and accessories departments. Same store sales decreased 5.7% during the third quarter of fiscal year 2024, compared to the third quarter of fiscal year 2023, primarily as a result of the impact of consumer inflationary pressures and recessionary concerns on discretionary spending. Gross profit was $103.1 million, or 31.8% of net sales, compared to $103.2 million or 30.3% of net sales in the third quarter of fiscal year 2023. This 150 basis-point increase, as a percentage of net sales, was primarily driven by improved product margins in our apparel and footwear departments, partially offset by increased freight and shrink. Selling, general, and administrative (SG&A) expenses were $100.0 million, or 30.8% of net sales, compared to $100.1 million, or 29.4% of net sales in the third quarter of fiscal year 2023. Net loss was $(0.4) million, compared to a net loss of $(1.3) million in the third quarter of fiscal year 2023. Adjusted net income was $1.4 million, compared to adjusted net loss of $(0.2) million in the third quarter of fiscal year 2023 (see "GAAP and Non-GAAP Financial Measures"). Adjusted EBITDA was $16.4 million, compared to $16.2 million in the third quarter of fiscal year 2023 (see "GAAP and Non-GAAP Financial Measures"). Diluted loss per share was $(0.01), compared to diluted loss per share of $(0.04) in the third quarter of fiscal year 2023. Adjusted diluted earnings per share were $0.04, compared to adjusted diluted loss per share of $(0.01) for the third quarter of fiscal year 2023 (see "GAAP and Non-GAAP Financial Measures"). For the thirty-nine weeks ended November 2, 2024: Net sales were $857.2 million, a decrease of 6.6%, compared to $917.6 million in the first nine months of fiscal year 2023. This net sales decrease was primarily driven by lower demand across most product categories due to current consumer inflationary pressures on discretionary spending. This decrease was partially offset by same store sales growth in our fishing department and the opening of 1 new store since October 28, 2023. Stores that have been open for less than 12 months and were not included in our same store sales, contributed $30.8 million to net sales. Same store sales decreased 9.4% compared to the first nine months of fiscal year 2023, primarily as a result of the same factors noted above that impacted net sales. Gross profit was $266.9 million or 31.1% of net sales, compared to $284.0 million or 31.0% of net sales for the first nine months of fiscal year 2023. This increase, as a percentage of net sales, was primarily due to higher overall product margins, versus last years apparel and footwear clearance events which put pressure on our gross margin, partially offset by increased shrink. SG&A expenses decreased to $288.7 million or 33.6% of net sales, compared with $301.5 million or 32.9% of net sales for the first nine months of fiscal year 2023. This absolute dollar decrease primarily related to our ongoing cost reduction efforts and decision to not open new stores during fiscal year 2024, partially offset by increases in rent and depreciation expenses. The increase as a percentage of net sales was largely due to lower net sales. Net loss was $(24.3) million, compared to net loss of $(20.3) million in the first nine months of fiscal year 2023. Adjusted net loss was $(21.7) million, compared to adjusted net loss of $(16.6) million in the first nine months of fiscal year 2023 (see "GAAP and Non-GAAP Financial Measures"). Adjusted EBITDA was $15.1 million, compared to $19.3 million in the first nine months of fiscal year 2023 (see "GAAP and Non-GAAP Financial Measures"). Diluted loss per share was $(0.65), compared to diluted loss per share of $(0.54) in the first nine months of fiscal year 2023. Adjusted diluted loss per share was $(0.58), compared to adjusted diluted loss per share of $(0.44) in the first nine months of fiscal year 2023 (see "GAAP and Non-GAAP Financial Measures"). Balance sheet and capital allocation highlights as of November 2, 2024: The Company ended the third quarter with net debt of $151.3 million, comprised of $130.0 million of borrowings outstanding under the Company's revolving credit facility, $24.0 million of net borrowings outstanding under the Company's term loan facility, and $2.7 million of cash and cash equivalents. Inventory at the end of the third quarter was $438.1 million. Total liquidity was $150.8 million as of the end of the third quarter of fiscal year 2024, comprised of $148.1 million of availability under the Company's revolving credit facility and term loan facility and $2.7 million of cash and cash equivalents. Company Outlook: "Given the current consumer environment and the shift towards value and promotion-driven shopping, we intensified our marketing and advertising campaigns to drive sales, which placed additional pressure on our margins this quarter," said Jeff White, Chief Financial Officer of Sportsman's Warehouse "To ensure strong core product in-stocks and to bring fresh offerings to our stores, we made strategic inventory investments aimed at improving sales during the hunting and holiday seasons. As we progress through the remainder of the year, we will remain disciplined in managing our expenses, and will reduce total inventory levels to generate positive free cash flow. Our mid and long-term objectives will be centered on improving our topline with a focus on margins and profitability." The Company is adjusting its guidance for fiscal year 2024 and expects net sales to be in the range of $1.18 billion to $1.20 billion, adjusted EBITDA to be in the range of $23 million to $29 million and total inventory to be below $350 million. The low end of the adjusted EBITDA range still assumes positive free cash flow for the full year. The Company now expects capital expenditures for 2024 to be in the range of $17 million to $20 million, primarily consisting of technology investments relating to merchandising and store productivity. No new store openings for the remainder of fiscal year 2024 are currently anticipated and we plan to open one new store in fiscal year 2025. The Company has not reconciled expected adjusted EBITDA for fiscal year 2024 to GAAP net income because the Company does not provide guidance for net (loss) income and is not able to provide a reconciliation to net (loss) income without unreasonable effort. The Company is not able to estimate net (loss) income on a forward-looking basis without unreasonable efforts due to the variability and complexity with respect to the charges excluded from Adjusted EBITDA, including stock-based compensation expense. Conference Call Information A conference call to discuss third quarter 2024 financial results is scheduled for December 10, 2024, at 5:00 PM Eastern Time. The conference call will be held via webcast and may be accessed via the Investor Relations section of the Company's website at www.sportsmans.com . Non-GAAP Financial Measures This press release includes the following financial measures defined as non-GAAP financial measures by the Securities and Exchange Commission (the "SEC") and that are not calculated in accordance with U.S. generally accepted accounting principles ("GAAP"): adjusted net (loss) income, adjusted diluted (loss) earnings per share and adjusted EBITDA. The Company defines adjusted net (loss) income as net (loss) income plus expenses incurred relating to director and officer transition costs, costs related to the implementation of our cost reduction plan, costs related to legal settlements and related fees and expenses, and fees and expenses related to a settlement in the cancellation of a contract related to our information technology systems. Net (loss) income is the most comparable GAAP financial measure to adjusted net (loss) income. The Company defines adjusted diluted (loss) earnings per share as adjusted net (loss) income divided by diluted weighted average shares outstanding. Diluted (loss) earnings per share is the most comparable GAAP financial measure to adjusted diluted (loss) earnings per share. The Company defines Adjusted EBITDA as net (loss) income plus interest expense, income tax (benefit) expense, depreciation and amortization, stock-based compensation expense, director and officer transition costs, costs related to the implementation of our cost reduction plan, a legal settlement and related fees and expenses, and fees and expenses related to a settlement in the cancellation of a contract related to our information technology systems. Net (loss) income is the most comparable GAAP financial measure to adjusted EBITDA. The Company has reconciled these non-GAAP financial measures to the most directly comparable GAAP financial measures under "GAAP and Non-GAAP Financial Measures" in this release. As noted above, the Company has not provided a reconciliation of fiscal year 2024 guidance for Adjusted EBITDA, in reliance on the unreasonable efforts exception provided under Item 10(e)(1)(i)(B) of Regulation S-K. The Company believes that these non-GAAP financial measures not only provide its management with comparable financial data for internal financial analysis but also provide meaningful supplemental information to investors and are frequently used by analysts, investors and other interested parties in the evaluation of companies in the Company's industry. Specifically, these non-GAAP financial measures allow investors to better understand the performance of the Company's business and facilitate a more meaningful comparison of its diluted (loss) earnings per share and actual results on a period-over-period basis. The Company has provided this information as a means to evaluate the results of its ongoing operations. Management uses this information as additional measurement tools for purposes of business decision-making, including evaluating store performance, developing budgets and managing expenditures. Other companies in the Company's industry may calculate these items differently than the Company does. Each of these measures is not a measure of performance under GAAP and should not be considered as a substitute for the most directly comparable financial measures prepared in accordance with GAAP. Non-GAAP financial measures have limitations as analytical tools, and investors should not consider them in isolation or as a substitute for analysis of the Company's results as reported under GAAP. The Company's management believes that these non-GAAP financial measures allow investors to evaluate the Company's operating performance and compare its results of operations from period to period on a consistent basis by excluding items that management does not believe are indicative of the Company's core operating performance. The presentation of such measures, which may include adjustments to exclude unusual or non-recurring items, should not be construed as an inference that the Company's future results, cash flows or leverage will be unaffected by other unusual or non-recurring items. Forward-Looking Statements This press release includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 as contained in Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Forward-looking statements in this release include, but are not limited to, statements regarding our progress on our business reset initiatives; our prioritization of traffic-driving marketing and product pricing initiatives, exceptional customer service and prudent inventory management; our emphasis on the balance sheet and ending the year with positive free cash flow; our ability to manage expenses, reduce total inventory levels to generate positive free cash flow; and our guidance for net sales and Adjusted EBITDA for fiscal year 2024. Investors can identify these statements by the fact that they use words such as "aim," "anticipate," "assume," "believe," "can have," "could," "due," "estimate," "expect," "goal," "intend," "likely," "may," "objective," "plan," "positioned," "potential," "predict," "should," "target," "will," "would" and similar terms and phrases. These forward-looking statements are based on current expectations, estimates, forecasts and projections about our business and the industry in which we operate and our management's beliefs and assumptions. We derive many of our forward-looking statements from our own operating budgets and forecasts, which are based upon many detailed assumptions. While we believe that our assumptions are reasonable, we caution that predicting the impact of known factors is very difficult, and we cannot anticipate all factors that could affect our actual results. The Company cannot assure investors that future developments affecting the Company will be those that it has anticipated. Actual results may differ materially from these expectations due to many factors including, but not limited to: current and future government regulations, in particular regulations relating to the sale of firearms and ammunition, which may impact the supply and demand for the Company's products and ability to conduct its business; the Company's retail-based business model which is impacted by general economic and market conditions and economic, market and financial uncertainties that may cause a decline in consumer spending; the Company's concentration of stores in the Western United States which makes the Company susceptible to adverse conditions in this region, and could affect the Company's sales and cause the Company's operating results to suffer; the highly fragmented and competitive industry in which the Company operates and the potential for increased competition; changes in consumer demands, including regional preferences, which we may not be able to identify and respond to in a timely manner; the Company's entrance into new markets or operations in existing markets, including the Company's plans to open additional stores in future periods, which may not be successful; the Company's implementation of a plan to reduce expenses in response to adverse macroeconomic conditions, including an increased focus on financial discipline and rigor throughout the Company's organization; impact of general macroeconomic conditions, such as labor shortages, inflation, elevated interest rates, economic slowdowns, and recessions or market corrections; and other factors that are set forth in the Company's filings with the SEC, including under the caption "Risk Factors" in the Company's Form 10-K for the fiscal year ended February 3, 2024, which was filed with the SEC on April 4, 2024, and the Company's other public filings made with the SEC and available at www.sec.gov . If one or more of these risks or uncertainties materialize, or if any of the Company's assumptions prove incorrect, the Company's actual results may vary in material respects from those projected in these forward-looking statements. Any forward-looking statement made by the Company in this release speaks only as of the date on which the Company makes it. Factors or events that could cause the Company's actual results to differ may emerge from time to time, and it is not possible for the Company to predict all of them. The Company undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future developments or otherwise, except as may be required by any applicable securities laws. About Sportsman's Warehouse Holdings, Inc. Sportsman's Warehouse Holdings, Inc. is an outdoor specialty retailer focused on meeting the needs of the seasoned outdoor veteran, the first-time participant, and everyone in between. We provide outstanding gear and exceptional service to inspire outdoor memories. For press releases and certain additional information about the Company, visit the Investor Relations section of the Company's website at www.sportsmans.com . Investor Contact: Riley Timmer Vice President, Investor Relations Sportsman's Warehouse (801) 304-2816 investors@sportsmans.com SPORTSMAN'S WAREHOUSE HOLDINGS, INC. Condensed Consolidated Statements of Operations (Unaudited) (amounts in thousands, except per share data) For the Thirteen Weeks Ended November 2, 2024 % of net sales October 28, 2023 % of net sales YOY Variance Net sales $ 324,261 100.0 % $ 340,569 100.0 % $ (16,308 ) Cost of goods sold 221,173 68.2 % 237,384 69.7 % (16,211 ) Gross profit 103,088 31.8 % 103,185 30.3 % (97 ) Operating expenses: Selling, general and administrative expenses 99,973 30.8 % 100,113 29.4 % (140 ) Income from operations 3,115 1.0 % 3,072 0.9 % 43 Interest expense 3,317 1.1 % 3,944 1.2 % (627 ) Other losses - 0.0 % - 0.0 % - Loss before income taxes (202 ) (0.1 %) (872 ) (0.3 %) 670 Income tax expense 162 0.0 % 459 0.1 % (297 ) Net loss $ (364 ) (0.1 %) $ (1,331 ) (0.4 %) $ 967 Loss per share Basic $ (0.01 ) $ (0.04 ) $ 0.03 Diluted $ (0.01 ) $ (0.04 ) $ 0.03 Weighted average shares outstanding Basic 37,869 37,393 476 Diluted 37,869 37,393 476 SPORTSMAN'S WAREHOUSE HOLDINGS, INC. Condensed Consolidated Statements of Operations (Unaudited) (amounts in thousands, except per share data) For the Thirty-Nine Weeks Ended November 2, 2024 % of net sales October 28, 2023 % of net sales YOY Variance Net sales $ 857,235 100.0 % $ 917,593 100.0 % $ (60,358 ) Cost of goods sold 590,343 68.9 % 633,547 69.0 % (43,204 ) Gross profit 266,892 31.1 % 284,046 31.0 % (17,154 ) Operating expenses: Selling, general and administrative expenses 288,727 33.6 % 301,450 32.9 % (12,723 ) Loss from operations (21,835 ) (2.5 %) (17,404 ) (1.9 %) (4,431 ) Interest expense 9,408 1.1 % 9,518 1.0 % (110 ) Other losses 457 0.1 % - 0.0 % 457 Loss before income taxes (31,700 ) (3.7 %) (26,922 ) (2.9 %) (4,778 ) Income tax benefit (7,364 ) (0.9 %) (6,664 ) (0.7 %) (700 ) Net loss $ (24,336 ) (2.8 %) $ (20,258 ) (2.2 %) $ (4,078 ) Loss per share Basic $ (0.65 ) $ (0.54 ) $ (0.11 ) Diluted $ (0.65 ) $ (0.54 ) $ (0.11 ) Weighted average shares outstanding Basic 37,729 37,500 229 Diluted 37,729 37,500 229 SPORTSMAN'S WAREHOUSE HOLDINGS, INC. Condensed Consolidated Balance Sheets (Unaudited) (amounts in thousands, except par value data) November 2, February 3, 2024 2024 Assets Current assets: Cash and cash equivalents $ 2,666 $ 3,141 Accounts receivable, net 1,447 2,119 Income tax receivable 523 — Merchandise inventories 438,136 354,710 Prepaid expenses and other 19,745 20,078 Total current assets 462,517 380,048 Operating lease right of use asset 320,729 309,377 Property and equipment, net 175,181 194,452 Goodwill 1,496 1,496 Deferred tax asset 7,480 505 Definite lived intangibles, net 282 327 Total assets $ 967,685 $ 886,205 Liabilities and Stockholders' Equity Current liabilities: Accounts payable $ 112,690 $ 56,122 Accrued expenses 95,094 83,665 Income taxes payable — 126 Operating lease liability, current 48,866 48,693 Revolving line of credit 130,042 126,043 Total current liabilities 386,692 314,649 Long-term liabilities: Term loan, net 23,969 — Operating lease liability, noncurrent 313,454 307,000 Total long-term liabilities 337,423 307,000 Total liabilities 724,115 621,649 Commitments and contingencies Stockholders' equity: Preferred stock, $.01 par value; 20,000 shares authorized; 0 shares issued and outstanding — — Common stock, $.01 par value; 100,000 shares authorized; 37,957 and 37,529 shares issued and outstanding, respectively 379 375 Additional paid-in capital 85,144 81,798 Accumulated earnings 158,047 182,383 Total stockholders' equity 243,570 264,556 Total liabilities and stockholders' equity $ 967,685 $ 886,205 SPORTSMAN'S WAREHOUSE HOLDINGS, INC. Condensed Consolidated Statements Cash Flows (Unaudited) (amounts in thousands) Thirty-Nine Weeks Ended November 2, October 28, 2024 2023 Cash flows from operating activities: Net loss $ (24,336 ) $ (20,258 ) Adjustments to reconcile net income to net cash used in operating activities: Depreciation of property and equipment 30,491 28,367 Amortization of discount on debt and deferred financing fees 217 114 Amortization of definite lived intangible 45 45 Loss on asset dispositions 501 — Noncash lease expense 3,239 24,493 Deferred income taxes (6,975 ) (6,664 ) Stock-based compensation 3,438 3,341 Change in operating assets and liabilities, net of amounts acquired: Accounts receivable, net 673 (1,051 ) Operating lease liabilities (7,964 ) (10,539 ) Merchandise inventories (83,426 ) (47,196 ) Prepaid expenses and other 220 (7,403 ) Accounts payable 56,128 26,081 Accrued expenses 9,727 (4,413 ) Income taxes payable and receivable (649 ) (1,554 ) Net cash used in operating activities (18,671 ) (16,637 ) Cash flows from investing activities: Purchase of property and equipment, net of amounts acquired (11,305 ) (71,170 ) Proceeds from sale of property and equipment 55 — Net cash used in investing activities (11,250 ) (71,170 ) Cash flows from financing activities: Net borrowings on line of credit 3,999 97,885 Borrowings on term loan 25,000 — Increase (Decrease) in book overdraft 1,670 (5,611 ) Proceeds from issuance of common stock per employee stock purchase plan 208 456 Payments to acquire treasury stock — (2,748 ) Payment of withholdings on restricted stock units (296 ) (1,649 ) Payment of deferred financing costs and discount on term loan (1,135 ) — Net cash provided by financing activities 29,446 88,333 Net change in cash and cash equivalents (475 ) 526 Cash and cash equivalents at beginning of period 3,141 2,389 Cash and cash equivalents at end of period $ 2,666 $ 2,915 SPORTSMAN'S WAREHOUSE HOLDINGS, INC. GAAP and Non-GAAP Financial Measures (Unaudited) (amounts in thousands, except per share data) The following table presents the reconciliations of (i) GAAP net loss to adjusted net loss and (ii) GAAP diluted loss per share to adjusted diluted loss per share: For the Thirteen Weeks Ended For the Thirty-Nine Weeks Ended November 2, 2024 October 28, 2023 November 2, 2024 October 28, 2023 Numerator: Net loss $ (364 ) $ (1,331 ) $ (24,336 ) $ (20,258 ) Director and officer transition costs (1) 279 1,180 709 3,067 Cancelled contract (2) 205 - 911 - Cost reduction plan (3) - 351 - 1,216 Legal settlement (4) 1,750 - 1,750 687 Less tax benefit (519 ) (398 ) (783 ) (1,292 ) Adjusted net loss $ 1,351 $ (198 ) $ (21,749 ) $ (16,580 ) Denominator: Diluted weighted average shares outstanding 37,869 37,393 37,729 37,500 Reconciliation of loss per share: Diluted loss per share: $ (0.01 ) $ (0.04 ) $ (0.65 ) $ (0.54 ) Impact of adjustments to numerator and denominator 0.05 0.03 0.07 0.10 Adjusted diluted loss per share: $ 0.04 $ (0.01 ) $ (0.58 ) $ (0.44 ) (1) Expenses incurred relating to the departure of directors and officers and the recruitment of directors and key members of our senior management team. (2) Represents fees and expenses related to a settlement in the cancellation of a contract related to our information technology systems. (3) Severance expenses paid as part of our cost reduction plan implemented during the 13 weeks ended July 29, 2023. (4) Represents costs related to legal settlements and related fees and expenses. SPORTSMAN'S WAREHOUSE HOLDINGS, INC. GAAP and Non-GAAP Financial Measures (Unaudited) (amounts in thousands, except per share data) The following table presents the reconciliation of GAAP net loss to adjusted EBITDA for the periods presented: For the Thirteen Weeks Ended For the Thirty-Nine Weeks Ended November 2, 2024 October 28, 2023 November 2, 2024 October 28, 2023 Net loss $ (364 ) $ (1,331 ) $ (24,336 ) $ (20,258 ) Interest expense 3,317 3,944 9,408 9,518 Income tax benefit 162 459 (7,364 ) (6,664 ) Depreciation and amortization 9,984 10,663 30,536 28,412 Stock-based compensation expense (1) 1,047 965 3,438 3,341 Director and officer transition costs (2) 279 1,180 709 3,067 Cancelled contract (3) 205 - 911 - Cost reduction plan (4) - 351 - 1,216 Legal settlement (5) 1,750 - 1,750 687 Adjusted EBITDA $ 16,380 $ 16,231 $ 15,052 $ 19,319 (1) Stock-based compensation expense represents non-cash expenses related to equity instruments granted to employees under our equity incentive plan and employee stock purchase plan. (2) Expenses incurred relating to the departure of directors and officers and the recruitment of directors and key members of our senior management team. (3) Represents fees and expenses related to a settlement in the cancellation of a contract related to our information technology systems. (4) Severance expenses paid as part of our cost reduction plan implemented during the 13 weeks ended July 29, 2023. (5) Represents costs related to legal settlements and related fees and expenses. © 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

PHILADELPHIA (AP) — Philadelphia 76ers forward Paul George has a bone bruise on his left knee and will miss two games, the team said Thursday. The 76ers said George did not suffer any structural damage when he injured the same knee that he hyperextended during the preseason in Wednesday night's loss at Memphis. The game marked the first time this season the All-Star trio of George, Joel Embiid and Tyrese Maxey started a game together. Javascript is required for you to be able to read premium content. Please enable it in your browser settings. Get the latest sports news delivered right to your inbox six days a week.Zefiro Announces Membership in Canadian Public-Private Working Group Addressing Alberta’s Orphaned and Marginal Oil & Gas Wells

A ruling on an objection to the nominating petitions of Orland Park village president candidate Jim Dodge has been pushed back as the makeup of the electoral board hearing the challenge is debated in Cook County court. John Hartmann filed a challenge to Dodge’s nominating petitions to challenge incumbent Village President Keith Pekau. Hartmann claims paperwork by Dodge, a former village trustee, is confusing as to whether he’s running for mayor or village president, although the terms are often using interchangeably. Attorneys representing Dodge argued Monday the Orland Park Electoral Board’s composition doesn’t follow state statute, and said those on it have a financial interest in as they’ve supported Pekau financially. Keri-Lyn Krafthefer, with the firm Ancel Glink, said she asked Cook County Judge Maureen Ward Kirby to appoint an electoral board comprised of members who have no connection with Orland Park. Krafthefer and Jim Rhodes, an attorney representing the Electoral Board, said the matter is up in court Tuesday. The Electoral Board is scheduled to reconvene at 9 a.m. Monday. Trustees William Healy and Cynthia Katsenes are on the Electoral Board, along with Village Clerk Brian Gaspardo, recently appointed by Pekau. Krafthefer said state election board filings show all three have made contributions, either directly to Pekau’s campaign committee or to the People Over Politics party, which includes the Pekau and incumbent trustees. The attorney said because of the contributions, the panel members are not objective in hearing the challenge. Also, Hartmann or his attorney apparently made an error in drafting the objection, as it asks the board to declare Dodge ineligible for the office of village clerk in Lombard, rather than Orland Park mayor. Dennis Reboletti, an attorney representing Hartmann, said he was not sure how the error was made. Krafthefer said even if the composition of the board remains, the remedy or outcome of what Hartmann is seeking can’t be accomplished by the Orland Park panel. She said Hartmann is barred by state election law from filing a new, corrected objection to Dodge’s paperwork. Dodge heads the Orland Park For All ticket, and is running with clerk candidate Mary Ryan Norwell and trustee candidates John Lawler, Dina M. Lawrence and Joanna M. Liotine Leafblad. Dodge became village clerk in 1989 was appointed trustee in 1996. He did not seek reelection in April 2021. Pekau heads the People Over Politics ticket in the April 1 election, and running with him are Gaspardo, trustee candidates Sean Kampas and Brian Riordan, both incumbents, and Carol McGury. mnolan@southtownstar.comStock market today: Indexes slip as investors brace for November inflation reportLifestance Health group director Robert Bessler sells $565,500 in stock

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PHILADELPHIA, PA / ACCESSWIRE / December 10, 2024 / abrdn Income Credit Strategies Fund (NYSE:ACP) (the "Fund"), a closed-end fund, announced today that it has reduced its monthly distribution from US 10 cents per share to US 7.75 cents per share, commencing with the distribution payable on January 10, 2025 to shareholders of record as of December 30, 2024 (ex-dividend date December 30, 2024). This represents a change in the annualized distribution rate from 18% to 14% based on NAV as of December 9, 2024. The Fund intends to maintain this distribution level for at least the next 12 months unless there is significant and unforeseen changes in market conditions. The Fund's distribution policy is to provide investors with a stable monthly distribution out of current income, supplemented by realized capital gains and, to the extent necessary, paid-in capital, which is a non-taxable return of capital. The Fund's monthly distribution has remained unchanged since September 2020. The Investment Adviser has advised the Fund's Board of Trustees (the "Board") that it believes that the reduced monthly distribution is more consistent with sustainable earnings of the Fund. The current reduction in distribution takes into account many factors, including, but not limited to, current and expected earnings and abrdn Investments Limited, the Investment Adviser, economic and market outlook. In approving the decrease to the distribution rate, the Board considered, among other things, the strong long-term past performance of the investment advisor as well as their outlook on the market going forward. The investment advisor is optimistic on both the near term and long-term prospects for returns within the High Yield market, with the combination of an attractive level of income and the advisor's historic ability to generate capital appreciation in a range of market outcomes as the drivers of their outlook. However, as credit spreads have tightened over recent years, the Board believes it to be prudent to lower the distribution rate to reflect a decreased total return potential in excess of income over the near term. Both the Board and the Investment Advisor remain committed to offering a product with a premium level of income, and that will not change. The pro forma level of distribution is expected to continue to stand out from the competitive set within the peer group while allowing the advisor the flexibility to invest in assets that put the best interests of the investor base as the top priority. Circular 230 disclosure: To ensure compliance with requirements imposed by the U.S. Treasury, we inform you that any U.S. tax advice contained in this communication (including any attachments) is not intended or written to be used, and cannot be used, for the purpose of (i) avoiding penalties under the Internal Revenue Code of 1986, as amended, or (ii) promoting, marketing or recommending to another party any transaction or matter addressed herein. In the United States, abrdn is the marketing name for the following affiliated, registered investment advisers: abrdn Inc., abrdn Investments Limited, and abrdn Asia Limited. Closed-end funds are traded on the secondary market through one of the stock exchanges. The Fund's investment return and principal value will fluctuate so that an investor's shares may be worth more or less than the original cost. Shares of closed-end funds may trade above (a premium) or below (a discount) the NAV of the Fund's portfolio. There is no assurance that the Fund will achieve its investment objective. Past performance does not guarantee future results. www.abrdnacp.com ### For More Information Contact: abrdn U.S. Closed-End Funds Investor Relations 1-800-522-5465 Investor.Relations@abrdn.com SOURCE: abrdn Income Credit Strategies Fund View the original on accesswire.comAP Trending SummaryBrief at 9:28 a.m. EST