49ers' visit gives Packers a chance to damage the playoff hopes of their postseason nemesis

KINGSTON, Jamaica- Member of Parliament for St Andrew Western, the People’s National Party’s (PNP) Anthony Hylton, has suggested sabotage while describing as an injustice, the non-completion of the proposed Penwood Road Housing Scheme in Waterhouse in his constituency. The idea for the scheme was first floated seven years ago to improve the housing stock in the community while providing more affordable housing for residents. Hylton made the charge during his contribution to the 2024/25 State of the Constituency Debate in the House of Representatives on Tuesday. He did not get to complete his presentation after he was shut down by the Speaker of the House of Representatives, Juliet Holness, for going over time. Holness insisted she would “not grant a minute more” after Hylton’s time to speak was initially extended by five minutes to allow him to complete his presentation. Holness claimed she has been more lenient with Opposition members and was not prepared to extend such courtesies going forward. When asked by Observer Online afterwards if he was citing sabotage, Hylton said “You’re correct”. He pointed out that while the Penwood Road housing scheme has fizzled, three housing schemes have been either completed or are under construction in the neighbouring constituency of St Andrew West Central, the Prime Minister’s constituency. About the stalled Penwood development he alleged: “It is now close to seven years since the last announcement was made. Meanwhile, at least three housing schemes commenced in the nearby constituency, with at least one completed and another at a very advanced stage of development. For the Penwood Road proposed project, significant design and structural engineering work was done, and consultation held with the community residents concerning the project, involving persons making National Housing Trust contributions and others, with independent sources of income from within the community, and from relatives and friends living in the Diaspora”. Hylton outlined that after at least four rounds of meetings with the Housing Authority of Jamaica, its technical and managerial staff, “we were finally told no funds were available to implement the project as conceptualised. No alternative approaches were offered and no timeline given as to whether or if, the project would be revisited. End of story!” “I am told that this experience is not an isolated one and too often, critically needed projects, which are needed to stabilise communities like Penwood Road, are jettisoned for reasons other than their viability, and communities are left to wonder why, how come? Especially, as in this case, where the adjoining community with similar socio-economic profile is seen to be benefitting from several Government-sponsored or enabled projects,” he added. According to Hylton, “The residents of Waterhouse have drawn their own conclusion as to the nature of the injustice that has occurred in this instance. I have assured them that the next PNP administration will fix it, sooner rather than later”.Jean-Philippe Mateta struck in the second half with the only real piece of quality in a nervy encounter between two struggling teams. It is now two wins and three draws from the last six matches for Glasner’s side, whose winter revival is gathering pace nicely following a sticky start to the campaign. “I feel very happy, we’re all very pleased with the result, it was not the best performance but the result was more important,” said the Eagles boss. “Most of the time we controlled the game and we scored an amazing goal, a fantastic finish from JP. “We had more chances to decide the game but we couldn’t, but I think the win was well deserved. “We didn’t give them any chances from open play and with a clean sheet you can always take the win. “It’s a big win. Now it’s not time to sit back and relax but to keep going. In four days we face Manchester City. We stay humble. There are still many things to improve but we are on the right path.” Ipswich looked the likelier to score as a low-key first half drew to a close and were denied by a point-blank save by Dean Henderson from Harry Clarke’s near-post header. Shortly after the interval Wes Burns got clear down the right and lifted an inviting cross towards Liam Delap, whose header was straight at Henderson. However, from out of nowhere Palace conjured up a lightning counter-attack to go ahead on the hour. Eberechi Eze led the charge before feeding Mateta, who surged forward with a couple of stepovers before brushing off the attention of Jacob Greaves and finishing superbly past Arijanet Muric. It was the French forward’s sixth goal of the season, and his first away from Selhurst Park. Back came Ipswich with Leif Davis fizzing in another cross for Delap, who somehow mistimed his jump and completely missed the ball from six yards. As time ticked down Greaves looped a header against the far post, with the rebound just eluding substitute Ali-Al Hamadi. “Frustrating night,” said Town boss Kieran McKenna. “It was a tight first half, we weren’t fantastic in terms of the flow of the game and didn’t create as many opportunities as we wanted. But having said that neither did our opponents. “In the second half we conceded a really poor goal and that proved decisive. We can do better than we did tonight.”

Xos general counsel sells $80,004 in stock

Canadian federal government pauses Canada Post strike mediationBritain's leader Keir Starmer makes his first trip to the Gulf as prime minister from Sunday, seeking to attract investment from the region's oil-rich states, Downing Street announced. Starmer will first visit the United Arab Emirates and then travel to Saudi Arabia, before stopping off in Cyprus on his way back to London on Tuesday in a bid "to build closer ties and drive long term UK growth". The trip to Abu Dhabi and Riyadh comes as his Labour government pursues a free-trade deal with the Gulf Cooperation Council's six nations: Bahrain, Kuwait, Oman, Qatar, Saudi Arabia, and UAE. "There is huge untapped potential in this region, which is why, while here, I will be making the case to accelerate progress on the Gulf Cooperation Council Free Trade Agreement," Starmer said in a statement released Saturday. The meetings will also aim to "deepen our research and development collaboration" and partner on projects in areas including defence and artificial intelligence, Starmer added. The British leader will land in the UAE on Sunday evening, ahead of Monday morning talks with its president Sheikh Mohamed bin Zayed Al Nahyan. Later Monday, Starmer will fly to Saudi Arabia to meet Riyadh's de facto leader Crown Prince Mohammed bin Salman, who last week hosted French President Emmanuel Macron. A Downing Street press release called the UAE and Saudi "some of the UK's most vital modern-day partners". The regional tour will end on Tuesday with Starmer meeting President Nikos Christodoulides in Nicosia, the first bilateral talks between the leaders of Britain and Cyprus in over five decades. Starmer is also due to address British troops stationed in Cyprus. Labour has staked its credibility on a promise to get Britain's sluggish economy firing again. It says a GCC agreement could boost bilateral trade, currently accounting for £55 billion ($70 bn) of UK trade, by 16 percent, "potentially adding an extra £8.6 billion a year in the long run". It hopes a deal would see Gulf sovereign wealth funds invest in a range of sectors, including energy and infrastructure, while also opening up lucrative markets to British firms. Starmer's trip comes after Britain last week rolled out the diplomatic red carpet for Qatar's emir Sheikh Tamim bin Hamad Al-Thani who enjoyed a state visit to the UK. Starmer discussed trade with the royal during talks in Downing Street that coincided with Qatar announcing it will invest £1 billion ($1.3 billion) in British climate technologies. Discussing regional conflicts is expected to be "high up the agenda", including the Israel-Hamas war in Gaza, the fragile ceasefire in Lebanon and renewed unrest in Syria. Starmer will also be looking to repair relations between the UK and UAE that soured under the previous Conservative government after an Abu Dhabi-backed bid to buy the Telegraph newspaper failed. The Gulf visit will be Starmer's 15th international trip since he entered Number 10 on July 5. Opponents have criticised the amount of time he has spent out of the country but allies insist the trips have been vital to get to know other world leaders. Starmer, 61, has been insisting in capitals that "Britain is back on the world stage" following rancour over its departure from the European Union. pdh/aks/jj

CARBONDALE, Ill. (AP) — Ali Abdou Dibba had 19 points in Southern Illinois' 73-70 win over Southern Indiana on Saturday. Dibba added three steals for the Salukis (4-6, 0-1 Missouri Valley Conference). Jarrett Hensley added 16 points while shooting 4 for 10 (1 for 4 from 3-point range) and 7 of 10 from the free-throw line while he also had 11 rebounds. Kennard Davis finished 5 of 10 from the field to finish with 11 points. Stephen Olowoniyi finished with 24 points for the Screaming Eagles (4-5). Jayland Randall added 22 points and two steals for Southern Indiana. Jack Mielke finished with six points and six rebounds. The Associated Press created this story using technology provided by Data Skrive and data from Sportradar .

A 7-year-old rivalry between tech leaders Elon Musk and Sam Altman over who should run OpenAI and prevent an artificial intelligence "dictatorship" is now heading to a federal judge as Musk seeks to halt the ChatGPT maker's ongoing shift into a for-profit company. Musk, an early OpenAI investor and board member, sued the artificial intelligence company earlier this year alleging it had betrayed its founding aims as a nonprofit research lab benefiting the public good rather than pursuing profits. Musk has since escalated the dispute, adding new claims and asking for a court order that would stop OpenAI’s plans to convert itself into a for-profit business more fully. The world's richest man, whose companies include Tesla, SpaceX and social media platform X, last year started his own rival AI company, xAI. Musk says it faces unfair competition from OpenAI and its close business partner Microsoft, which has supplied the huge computing resources needed to build AI systems such as ChatGPT. “OpenAI and Microsoft together exploiting Musk’s donations so they can build a for-profit monopoly, one now specifically targeting xAI, is just too much,” says Musk's filing that alleges the companies are violating the terms of Musk’s foundational contributions to the charity. OpenAI is filing a response Friday opposing Musk’s requested order, saying it would cripple OpenAI’s business and mission to the advantage of Musk and his own AI company. A hearing is set for January before U.S. District Judge Yvonne Gonzalez Rogers in Oakland. At the heart of the dispute is a 2017 internal power struggle at the fledgling startup that led to Altman becoming OpenAI's CEO. Musk also wanted the job, according to emails revealed as part of the court case, but grew frustrated after two other OpenAI co-founders said he would hold too much power as a major shareholder and chief executive if the startup succeeded in its goal to achieve better-than-human AI known as artificial general intelligence , or AGI. Musk has long voiced concerns about how advanced forms of AI could threaten humanity. “The current structure provides you with a path where you end up with unilateral absolute control over the AGI," said a 2017 email to Musk from co-founders Ilya Sutskever and Greg Brockman. “You stated that you don't want to control the final AGI, but during this negotiation, you've shown to us that absolute control is extremely important to you.” In the same email, titled “Honest Thoughts,” Sutskever and Brockman also voiced concerns about Altman's desire to be CEO and whether he was motivated by “political goals.” Altman eventually succeeded in becoming CEO, and has remained so except for a period last year when he was fired and then reinstated days later after the board that ousted him was replaced. OpenAI published the messages Friday in a blog post meant to show its side of the story, particularly Musk's early support for the idea of making OpenAI a for-profit business so it could raise money for the hardware and computer power that AI needs. It was Musk, through his wealth manager Jared Birchall, who first registered “Open Artificial Technologies Technologies, Inc.”, a public benefit corporation, in September 2017. Then came the “Honest Thoughts” email that Musk described as the “final straw.” “Either go do something on your own or continue with OpenAI as a nonprofit,” Musk wrote back. OpenAI said Musk later proposed merging the startup into Tesla before resigning as the co-chair of OpenAI's board in early 2018. Musk didn't immediately respond to emailed requests for comment sent to his companies Friday. Asked about his frayed relationship with Musk at a New York Times conference last week, Altman said he felt “tremendously sad” but also characterized Musk’s legal fight as one about business competition. “He’s a competitor and we’re doing well,” Altman said. He also said at the conference that he is “not that worried” about the Tesla CEO’s influence with President-elect Donald Trump. OpenAI said Friday that Altman plans to make a $1 million personal donation to Trump’s inauguration fund, joining a number of tech companies and executives who are working to improve their relationships with the incoming administration. —————————— The Associated Press and OpenAI have a licensing and technology agreement allowing OpenAI access to part of the AP’s text archives.None

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New York, Dec. 11, 2024 (GLOBE NEWSWIRE) -- Inception Growth Acquisition Limited (NASDAQ: IGTA, the "Company”), a publicly traded special purpose acquisition company, announced today that at its special meeting of stockholders on December 6, 2024 (the "Meeting”), the Company's stockholders voted in favor of, among others, the proposals to amend (i) its amended and restated certificate of incorporation; and (ii) the investment management trust agreement with Continental Stock Transfer & Trust Company, giving the Company the right to extend the date on which to commence liquidating the trust account established in connection with the Company's initial public offering (the "Trust Account”) by six (6) times for an additional one (1) month each time from December 13, 2024 to June 13, 2025 by depositing into the trust account an aggregate amount equal to $0.04 multiplied by the number of common stock issued in the Company's initial public offering that has not been redeemed for each one-month extension. The purpose of the extension is to provide additional time for the Company to complete a business combination. Contact Inception Growth Acquisition Limited Investor Relationship Department (315) 636-6638Ruud van Nistelrooy enjoys winning start with LeicesterCALGARY — The Calgary Stampeders re-signed veteran kicker Rene Paredes on Wednesday while also restructuring quarterback Vernon Adams Jr.'s deal. Calgary signed Paredes to a two-year contract extension. The Canadian was scheduled to become a free agent in February. The Stampeders acquired Adams last month from the B.C. Lions. The club and player agreed to terms on a restructured contract for the 2025 and 2026 seasons. "The restructured contract will give us more salary-cap flexibility to sign free agents and retain our own players who will be eligible for free agency in February,” Dave Dickenson, Calgary's head coach and general manager, said in a statement. “Vernon remains under contract for the next two seasons and we’re excited to have him in Calgary.” Adams, an eight-year CFL veteran, posted a 6-3 record last season with B.C., completing 197-of-302 passes (65.2 per cent) for 2,929 yards with 16 touchdowns and nine interceptions. He recorded six 300-yard passing games while also rushing for 213 yards and three TDs in 40 attempts. He completed 20-of-33 passes for 317 yards with two TDs and three interceptions in B.C.'s 28-19 West Division semifinal loss to the Saskatchewan Roughriders. Paredes, a six-time all-star, has played 13 seasons with Calgary — ranking him fourth all-time in franchise history in terms of longevity — and his 229 regular-season games place him second in the Stampeders record books. He made 41 of his 44 field-goal attempts (93.2-per-cent success rate) over 18 games in 2024. Paredes has played 248 career regular-season and post-season games for the Stampeders since signing as a free agent in 2011. His 2,286 career regular-season points place him eighth on the CFL’s all-time list and he was part of Grey Cup-winning teams in 2014 and 2018. “I’m very excited to be back with the organization,” Paredes said in a release. “My family and I love the city and it’s a blessing to have spent my entire career as a Stampeder. The last two seasons have been a challenge for us as a team but I’m looking forward to doing everything I can to help turn things around.” This report by The Canadian Press was first published Dec. 11, 2024. The Canadian Press

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LONDON , Dec. 13, 2024 /PRNewswire/ -- Ahead of the Paddy Power World Darts Championship, Olympic legend teams up with Paddy Power and Prostate Cancer UK to save lives, as new research reveals one in four men speak to nobody about their health Chris Hoy announced as ambassador of The BIGGER 180 campaign which is set to use sport as a platform to save lives at the Paddy Power World Darts Championship Paddy Power will donate £1,000 to Prostate Cancer UK for every 180 scored at Ally Pally from 15th December to 3rd January, with a £180,000 nine-dart bonus for every perfect leg The BIGGER 180 campaign aims to get 180,000 men to take Prostate Cancer UK's 30-second risk checker and raise over £1 million for the TRANSFORM Trial , revolutionising prostate cancer detection New research from Paddy Power reveals almost a quarter (23%) of men talk to nobody about their health, and a fifth (18%) avoid screenings due to embarrassment Find out more and check your risk today Darts fans, get ready – the action at Ally Pally this year isn't just about sporting drama. It's about saving lives. Sir Chris Hoy , Britain's most decorated Olympian and one of the greatest athletes of all time, has joined forces with Paddy Power and Prostate Cancer UK to launch The BIGGER 180 , turning every throw at the Paddy Power World Darts Championship into a life-saving moment. Diagnosed with stage-four prostate cancer, Hoy is stepping into the spotlight to inspire men to take control of their health before it's too late. "This isn't about medals or records," says Hoy. "It's about saving lives. If sharing my story gets just one man to check his risk, it's all been worth it." AIMING FOR THE BIGGEST 180 OF ALL Prostate cancer is the most common cancer among men in the UK, but silence is the deadliest symptom: One in four (23%) men talk to nobody about their health, making men significantly more likely than women to remain silent. 18% of men avoid prostate cancer screenings due to embarrassment. 22% of men avoid medical advice altogether , fearing bad results. "Men are great at cheering for their team, fixing the shed, or helping their mates move house – but when it comes to their health, they go quiet," says Hoy. "That has to change. Checking your risk takes just 30 seconds, and it could save your life." DARTS AND DONATIONS: HOW THE BIGGER 180 WORKS This year, every 180 scored at Ally Pally is more than just a crowd-pleaser – it's a step towards saving lives: £1,000 donated for every 180 scored during the tournament. A £180,000 nine-dart bonus , split between Prostate Cancer UK, the player, and a lucky fan, for every perfect leg. Funds raised will support the TRANSFORM Trial , a groundbreaking study aiming to revolutionise prostate cancer detection. Targeting 180,000 men to take Prostate Cancer UK's 30-second risk checker , encouraging them to take control of their health. CHRIS HOY : FROM GOLD MEDALS TO LIFE-SAVING ACTION Hoy's journey with prostate cancer began in silence, like so many others. "I didn't have any symptoms until it was too late," Hoy explains. "By the time I felt pain, it wasn't in my prostate anymore – it was secondary cancer in my bones. If I'd thought to check earlier, maybe I'd have caught it in time. That's why this campaign is so important – so others don't end up in the same situation." Hoy's openness has already made a difference: Since his announcement, over 300,000 men have completed the 30-second risk checker . Among them, 38,000 men with a family history of prostate cancer have taken proactive steps to assess their risk. "When I told a friend about my diagnosis, he went for a PSA test and found out he had cancer," says Hoy. "He's now had treatment and got the all-clear. If my story helps even one person, it's worth it." THE TRANSFORM TRIAL: REVOLUTIONISING SCREENING Funds raised by The BIGGER 180 will support the TRANSFORM Trial , a pioneering study tackling the limitations of current screening methods: "The PSA test isn't perfect, and that's one of the reasons doctors often wait until you're 50 to recommend it," Hoy says. "The TRANSFORM Trial could completely change that. It's exciting to be part of something so impactful." The trial aims to create earlier, more accurate detection methods, saving thousands of lives by ensuring men catch the disease before it's too late. TURNING SPORT INTO A LIFE-SAVING PLATFORM Darts isn't just a game – it's a platform to inspire life-saving action. Research backs this up: 66% of men believe sports events are a great way to raise awareness about health issues. Men are 14% more likely than women to take health action if prompted during a sporting event. 82% of men take action when encouraged by friends or family. 52% of men say seeing someone close to them take proactive health steps motivates them to do the same. "Sport brings people together," Hoy says. "It's the perfect stage to deliver a message that can save lives." "We've always loved making noise, but this time, it's about breaking the silence," says Paddy Power himself. "Men are notoriously bad at talking about their health, so we created The BIGGER 180 to change that. At the Paddy Power World Darts Championship – a place where men feel comfortable and connected - every 180 scored isn't just about cheers and beers; it's another step towards saving lives. "By teaming up with Chris Hoy and Prostate Cancer UK, we're turning the biggest stage in darts into a platform for real change." CALL TO ACTION: DON'T MISS YOUR SHOT Hoy's message is simple but powerful: Take the 30 seconds. Use Prostate Cancer UK's risk checker today – it could save your life. Start the conversation. Whether it's with a mate, a partner, or your GP, talking is the first step to breaking the silence. Take action. Don't let embarrassment or fear hold you back. Early detection makes all the difference. "This campaign is about hitting the biggest 180 of all – saving lives," Hoy says. "Together, we're creating something that's going to change lives for the better. But we need every man, every fan, to step up and take that first step." QUOTES FROM CHRIS HOY On His Diagnosis and Why Early Detection Matters: "I didn't have any symptoms until it was too late. By the time I felt pain, it wasn't in my prostate anymore – it was secondary cancer in my bones." "If I'd thought to check earlier, maybe I'd have caught it in time. That's why raising awareness is so important – so others don't end up in the same situation." "Catching it early is the key for any cancer. The 30-second risk checker is a simple way to take control of your health." On Men's Silence Around Health Issues: "Men are notoriously bad at prioritising their own health – physically and mentally. We'll make sure our kids and wives get check-ups, but we put ourselves last. It's a mistake we can't afford to make." "Talking about health isn't about being vulnerable – it's about being smart. It's about taking control." "If my story gets one man to talk, check his risk, or see his GP, it's worth it." On Paddy Power's Role in the Campaign: " Paddy Power is turning cheers into action and moments into movements. That's what makes this campaign so special." "Darts fans are some of the most passionate people in sport, and Paddy Power has tapped into that passion to create something that's not just fun but life-changing." The Paddy Power World Darts Championship kicks off on Sunday, 15th December, bringing world-class darts and life-changing impact to the stage at Alexandra Palace. Supported by Britain's most decorated Olympian, Chris Hoy, the The BIGGER 180 campaign is turning every dart into a chance to save lives. With £1,000 donated by Paddy Power to Prostate Cancer UK for every 180 scored and a massive £180,000 for every nine-dart finish, the campaign aims to raise over £1 million to fund the TRANSFORM Trial and help revolutionise prostate cancer detection. Add to that the goal of getting 180,000 men to take Prostate Cancer UK's 30-second risk checker, and this partnership is setting its sights on hitting the ultimate bullseye: saving lives. Don't miss the action and make your move – find out more at www.paddypower.com and www.prostatecanceruk.org . Notes to Editors About The BIGGER 180 Follow The BIGGER 180 campaign on Paddy Power's ' X ' account and keep up with the running tally of the amount raised via Paddy Power News' Totaliser throughout the tournament The nine-dart bonus, paid by Paddy Power , will apply to every nine-darter in the Paddy Power World Darts Championship – not just the first one – and will be eligible only to parties aged over 18 on the day of play The bonus will be paid to any player aged under 18 by another PDC partner, with details to be confirmed in due course The winning fan in the crowd will be picked at random with a mechanic to be revealed by the PDC and Paddy Power before the start of the Paddy Power World Darts Championship About Paddy Power Paddy Power was born in 1988 thanks to the merger of three Irish bookmakers who decided to do things a little bit differently. What started out as a betting firm has grown into one of the biggest and best-known entertainment brands in the industry. We merged with Betfair in 2016, and FanDuel in 2018. Our oddball approach has seen the company grow exponentially from 30 shops to 500 in the UK & Ireland today, not to mention the launch of www.paddypower.com , poker, live casino, bingo, and games channels. Paddy Power is part of Flutter Entertainment plc, an international sports betting and gaming operator listed on the New York Stock Exchange. Although we've grown to a bit of a behemoth, we've not forgotten our roots – offering value for our customers, served with a side of mischief. About Prostate Cancer UK Prostate Cancer UK is the largest men's health charity in the UK, striving for a world where no man dies of prostate cancer. The charity works to give every man the power to navigate the disease: by helping men understand their risk through our award-winning online risk checker; by providing them with trusted support and the information they need to make the right treatment choices for them; or by empowering them to make improvements for their path ahead, and for the paths of generations to come. Prostate Cancer UK is the driving force in prostate cancer research in the UK. Investing millions into the best researchers in the world to unravel the complexity of the disease, the charity has improved how men are diagnosed through funding cutting-edge technology like more accurate MRI scans. The charity works to give men precise and personalised care with the right treatments at the right time, for the best chance of living the full life they want and spending more time with those they love. Prostate Cancer UK also supports men living with and after prostate cancer, providing services like a Specialist Nurses helpline to give expert advice, and working with the NHS and its Clinical Champions to change the healthcare system so men are more involved in decisions and empowered to navigate prostate cancer. About PDC The Professional Darts Corporation operates a £15m global circuit of events, headlined by the flagship Paddy Power World Darts Championship, which is held across 16 days from December 15-January 3 at London's Alexandra Palace. Part of the Matchroom group of companies, the PDC is now in its fourth decade, and promotes events including Premier League Darts, televised ranked events such as the World Matchplay, World Grand Prix and Grand Slam of Darts, the global World Series tour and secondary, women's and affiliated tours around the world. About Sky Sky is one of Europe's leading media and entertainment companies and is part of Comcast Corporation, a global media and technology company that connects people to moments and experiences that matter. At Sky we Believe in Better. It's in our DNA. We're famous for innovation. We offer streaming services NOW and WOW; the world's smartest TV, Sky Glass ; and the best aggregation platform, Sky Q. We provide connectivity you can count on in mobile, and fast, secure, reliable residential and business broadband. We're Europe's premium content producer. We create award-winning original content, produce the biggest live sporting events, and we provide free access to news and the arts. We believe that we can have a positive impact on society, by supporting and creating tens of thousands of jobs, addressing digital inequality, being a diverse and inclusive employer, and becoming net zero carbon by 2030. Photo - https://mma.prnewswire.com/media/2581173/Paddy_Power.jpg Logo - https://mma.prnewswire.com/media/2581174/The_BIGGER_180_Campaign_Logo.jpg

CITY OF INDUSTRY, Calif.--(BUSINESS WIRE)--Dec 3, 2024-- Torrid Holdings Inc. (“Torrid” or the “Company”) (NYSE: CURV), a direct-to-consumer apparel, intimates, and accessories brand in North America for women sizes 10 to 30, today announced its financial results for the quarter ended November 2, 2024. Lisa Harper, Chief Executive Officer of Torrid, stated, “Our third quarter results were below our expectations as our fall assortments did not offer enough newness and novelty. We also saw the environment change meaningfully from the end of September and into October. Despite the weaker top line sales, we delivered a positive full-price comp, 285 basis points of gross profit expansion, and modest Adjusted EBITDA (1) growth. We ended the quarter with clean inventory levels, down 19% to last year, and $44 million in cash.” Ms. Harper continued, “While we are encouraged by our customers’ response to the newness in our assortments, given the volatility we have seen in our business, and recognizing that there is still considerable amount of the quarter ahead of us, we are taking a prudent approach to our fourth quarter outlook. As we move into fiscal 2025, we are confident that we have put in place the necessary changes and strategies to position us for growth.” Financial Highlights for the Third Quarter of Fiscal 2024 Third Quarter of Fiscal 2024 Financial and Operating Metrics November 2, 2024 October 28, 2023 Number of stores (as of end of period) 655 643 Three Months Ended (in thousands, except percentages) November 2, 2024 October 28, 2023 Comparable sales (A) (7 )% (8 )% Net loss $ (1,194 ) $ (2,748 ) Adjusted EBITDA (B) $ 19,584 $ 19,379 (A) Comparable sales (2) for the three-month period ended November 2, 2024 compares sales for the 13-week period ended November 2, 2024, with sales for the 13-week period ended November 4, 2023. (B) Please refer to “Non-GAAP Reconciliation” below for a reconciliation of net loss to Adjusted EBITDA (1). Balance Sheet and Cash Flow Cash and cash equivalents at the end of the third quarter of 2024 totaled $44.0 million. Total liquidity at the end of the quarter, including available borrowing capacity under our revolving credit agreement, was $151.8 million. Cash flow from operations for the nine-month period ended November 2, 2024, was $65.4 million, compared to $33.7 million for the nine-month period ended October 28, 2023. Outlook For the fourth quarter of fiscal 2024 the Company expects: For the full year 2024, which has 52 weeks compared to 53 weeks in full year 2023, the Company expects: The above outlook is based on several assumptions, including, but not limited to, the macroeconomic challenges in the industry in fiscal 2024 as well as higher labor costs. The above outlook does not take into consideration the Consumer Financial Protection Bureau ruling which mandates, among other things, decreases in credit card late fees, and could alter the profitability of our agreements with our private label credit card financing company. See “Forward-Looking Statements” for additional information. Conference Call Details A conference call to discuss the Company’s third quarter 2024 results is scheduled for December 3, 2024, at 4:30 p.m. ET. Those who wish to participate in the call may do so by dialing (877) 407-9208 or (201) 493-6784 for international callers. The conference call will also be webcast live at https://investors.torrid.com . For those unable to participate, a replay of the conference call will be available approximately three hours after the conclusion of the call until December 10, 2024. Notes Adjusted EBITDA is a non-GAAP financial measure. See “Non-GAAP Financial Measures” and “Non-GAAP Reconciliation” for additional information on non-GAAP financial measures and the accompanying table for a reconciliation to the most comparable GAAP measure. The Company does not provide reconciliations of the forward-looking non-GAAP measures of Adjusted EBITDA to the most directly comparable forward-looking GAAP measure because the timing and amount of excluded items are unreasonably difficult to fully and accurately estimate. For the same reasons, the Company is unable to address the probable significance of the unavailable information, which could be material to future results. Comparable sales for any given period are defined as the sales of our e-Commerce operations and stores that we have included in our comparable sales base during that period. We include a store in our comparable sales base after it has been open for 15 full fiscal months. If a store is closed during a fiscal year, it is only included in the computation of comparable sales for the full fiscal months in which it was open. Comparable sales for the third quarter of fiscal year 2024 compares sales for the 13-week period ended November 2, 2024, with sales for the 13-week period ended November 4, 2023. Partial fiscal months are excluded from the computation of comparable sales. We apply current year foreign currency exchange rates to both current year and prior year comparable sales to remove the impact of foreign currency fluctuation and achieve a consistent basis for comparison. Comparable sales allow us to evaluate how our unified commerce business is performing exclusive of the effects of non-comparable sales and new store openings. About Torrid TORRID is a direct-to-consumer brand in North America dedicated to offering a diverse assortment of stylish apparel, intimates, and accessories skillfully designed for curvy women. Specializing in sizes 10 to 30, TORRID’s primary focus is on providing fashionable, comfortable, and affordable options that meet the unique needs of its customers. TORRID’s extensive collection features high quality merchandise, including tops, bottoms, denim, dresses, intimates, activewear, footwear, and accessories. Revenues are generated primarily through its e-Commerce platform www.torrid.com and its stores in the United States of America, Puerto Rico and Canada. Non-GAAP Financial Measures In addition to results determined in accordance with accounting principles generally accepted in the United States of America (“GAAP”), management utilizes certain non-GAAP performance measures, such as Adjusted EBITDA, for purposes of evaluating ongoing operations and for internal planning and forecasting purposes. We believe that these non-GAAP operating measures, when reviewed collectively with our GAAP financial information, provide useful supplemental information to investors in assessing our operating performance. Adjusted EBITDA is a supplemental measure of our operating performance that is neither required by, nor presented in accordance with, GAAP and our calculations thereof may not be comparable to similarly titled measures reported by other companies. Adjusted EBITDA represents GAAP net income (loss) plus interest expense less interest income, net of other expense (income), plus provision for income taxes, depreciation and amortization (“EBITDA”), and share-based compensation, non-cash deductions and charges, and other expenses We believe Adjusted EBITDA facilitates operating performance comparisons from period to period by isolating the effects of certain items that vary from period to period without any correlation to ongoing operating performance. We also use Adjusted EBITDA as one of the primary methods for planning and forecasting the overall expected performance of our business and for evaluating on a quarterly and annual basis, actual results against such expectations. Further, we recognize Adjusted EBITDA as a commonly used measure in determining business value and, as such, use it internally to report and analyze our results and as a benchmark to determine certain non-equity incentive payments made to executives. Adjusted EBITDA has limitations as an analytical tool. This measure is not a measurement of our financial performance under GAAP and should not be considered in isolation or as an alternative to or substitute for net income (loss), income (loss) from operations, earnings (loss) per share or any other performance measures determined in accordance with GAAP or as an alternative to cash flows from operating activities as a measure of our liquidity. Our presentation of Adjusted EBITDA should not be construed as an inference that our future results will be unaffected by unusual or non-recurring items. Forward-Looking Statements Certain statements made in this earnings release are “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended (the “Securities Act”) and Section 21E of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), and are subject to the safe harbor created thereby under the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical or current fact included in this earnings release are forward-looking statements. Forward-looking statements reflect our current expectations and projections relating to our financial condition, results of operations, plans, objectives, future performance and business. You can identify forward-looking statements by the fact that they do not relate strictly to historical or current facts. These statements may include words such as “anticipate,” “estimate,” “expect,” “project,” “plan,” “intend,” “believe,” “may,” “will,” “should,” “can have,” “likely” and other words and terms of similar meaning (including their negative counterparts or other various or comparable terminology). For example, all statements we make relating to our estimated and projected costs, expenditures, cash flows, growth rates and financial results, our plans and objectives for future operations, growth or initiatives, strategies or the expected outcome or impact of pending or threatened litigation are forward-looking statements. All forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from those that we expected, including: • the adverse impact of rulemaking changes implemented by the Consumer Financial Protection Bureau on our income streams, profitability and results of operations; • changes in consumer spending and general economic conditions; • the negative impact on interest expense as a result of steep interest rates; • inflationary pressures with respect to labor and raw materials and global supply chain constraints that could increase our expenses; • our ability to identify and respond to new and changing product trends, customer preferences and other related factors; • our dependence on a strong brand image; • increased competition from other brands and retailers; • our reliance on third parties to drive traffic to our website; • the success of the shopping centers in which our stores are located; • our ability to adapt to consumer shopping preferences and develop and maintain a relevant and reliable omni-channel experience for our customers; • our dependence upon independent third parties for the manufacture of all of our merchandise; • availability constraints and price volatility in the raw materials used to manufacture our products; • interruptions of the flow of our merchandise from international manufacturers causing disruptions in our supply chain; • our sourcing a significant amount of our products from China; • shortages of inventory, delayed shipments to our e-Commerce customers and harm to our reputation due to difficulties or shut-down of our distribution facility; • our reliance upon independent third-party transportation providers for substantially all of our product shipments; • our growth strategy; • our failure to attract and retain employees that reflect our brand image, embody our culture and possess the appropriate skill set; • damage to our reputation arising from our use of social media, email and text messages; • our reliance on third-parties for the provision of certain services, including real estate management; • our dependence upon key members of our executive management team; • our reliance on information systems; • system security risk issues that could disrupt our internal operations or information technology services; • unauthorized disclosure of sensitive or confidential information, whether through a breach of our computer system, third-party computer systems we rely on, or otherwise; • our failure to comply with federal and state laws and regulations and industry standards relating to privacy, data protection, advertising and consumer protection; • payment-related risks that could increase our operating costs or subject us to potential liability; • claims made against us resulting in litigation; • changes in laws and regulations applicable to our business; • regulatory actions or recalls arising from issues with product safety; • our inability to protect our trademarks or other intellectual property rights; • our substantial indebtedness and lease obligations; • restrictions imposed by our indebtedness on our current and future operations; • changes in tax laws or regulations or in our operations that may impact our effective tax rate; • the possibility that we may recognize impairments of long-lived assets; • our failure to maintain adequate internal control over financial reporting; and • the threat of war, terrorism or other catastrophes, including natural disasters, that could negatively impact our business. The outcome of the events described in any of our forward-looking statements are also subject to risks, uncertainties and other factors described in the sections entitled "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations" in our Annual Report on Form 10-K filed with the Securities and Exchange Commission ("SEC") on April 2, 2024 and in our other filings with the SEC and public communications. You should evaluate all forward-looking statements made in this earnings release in the context of these risks and uncertainties. We caution you that the important factors referenced above may not include all of the factors that are important to you. In addition, we cannot assure you that we will realize the results or developments we expect or anticipate or, even if substantially realized, that they will result in the outcomes or affect us or our operations in the way we expect. The forward-looking statements included in this earnings release are made only as of the date hereof. We undertake no obligation to publicly update or revise any forward-looking statement as a result of new information, future events or otherwise except to the extent required by law. Our forward-looking statements do not reflect the potential impact of any future acquisitions, mergers, dispositions, joint ventures or investments. Investors and others should note that we may announce material information to our investors using our investor relations website ( https://investors.torrid.com ), SEC filings, press releases, public conference calls and webcasts. We use these channels, as well as social media, to communicate with our investors and the public about our company, our business and other issues. It is possible that the information that we post on social media could be deemed to be material information. We therefore encourage investors to visit these websites from time to time. The information contained on such websites and social media posts is not incorporated by reference into this filing. Further, our references to website URLs in this filing are intended to be inactive textual references only. TORRID HOLDINGS INC. CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS (UNAUDITED) (In thousands, except per share data) Three Months Ended November 2, 2024 October 28, 2023 Net sales $ 263,766 $ 275,408 Cost of goods sold 168,609 183,906 Gross profit 95,157 91,502 Selling, general and administrative expenses 74,899 71,881 Marketing expenses 13,056 12,739 Income from operations 7,202 6,882 Interest expense 8,784 9,757 Other income, net of other expense (362 ) 267 Loss before benefit from income taxes (1,220 ) (3,142 ) Benefit from income taxes (26 ) (394 ) Net loss $ (1,194 ) $ (2,748 ) Comprehensive loss: Net loss $ (1,194 ) $ (2,748 ) Other comprehensive loss: Foreign currency translation adjustment (86 ) (271 ) Total other comprehensive loss (86 ) (271 ) Comprehensive loss $ (1,280 ) $ (3,019 ) Net loss per share: Basic $ (0.01 ) $ (0.03 ) Diluted $ (0.01 ) $ (0.03 ) Weighted average number of shares: Basic 104,698 104,081 Diluted 104,698 104,081 TORRID HOLDINGS INC. CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED)(In thousands, except share and per share data) November 2, 2024 February 3, 2024 Assets Current assets: Cash and cash equivalents $ 43,953 $ 11,735 Restricted cash 399 399 Inventory 138,261 142,199 Prepaid expenses and other current assets 33,343 22,229 Prepaid income taxes 6,617 2,561 Total current assets 222,573 179,123 Property and equipment, net 85,569 103,516 Operating lease right-of-use assets 149,732 162,444 Deposits and other noncurrent assets 18,027 14,783 Deferred tax assets 8,681 8,681 Intangible asset 8,400 8,400 Total assets $ 492,982 $ 476,947 Liabilities and stockholders' deficit Current liabilities: Accounts payable $ 77,478 $ 46,183 Accrued and other current liabilities 116,650 107,750 Operating lease liabilities 36,312 42,760 Borrowings under credit facility — 7,270 Current portion of term loan 16,144 16,144 Due to related parties 4,330 9,329 Income taxes payable 62 2,671 Total current liabilities 250,976 232,107 Noncurrent operating lease liabilities 145,126 155,825 Term loan 276,445 288,553 Deferred compensation 3,735 5,474 Other noncurrent liabilities 5,986 6,705 Total liabilities 682,268 688,664 Commitments and contingencies Stockholders' deficit Preferred shares: $0.01 par value; 5,000,000 shares authorized; zero shares issued and outstanding at November 2, 2024 and February 3, 2024 — — Common shares: $0.01 par value; 1,000,000,000 shares authorized; 104,732,148 shares issued and outstanding at November 2, 2024; 104,204,554 shares issued and outstanding at February 3, 2024 1,049 1,043 Additional paid-in capital 138,532 135,140 Accumulated deficit (328,281 ) (347,587 ) Accumulated other comprehensive loss (586 ) (313 ) Total stockholders' deficit (189,286 ) (211,717 ) Total liabilities and stockholders' deficit $ 492,982 $ 476,947 TORRID HOLDINGS INC. CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) (In thousands) Nine Months Ended N ovember 2, 2024 Nine Months Ended October 28, 2023 OPERATING ACTIVITIES Net income $ 19,306 $ 15,689 Adjustments to reconcile net income to net cash provided by operating activities: Write down of inventory 1,519 3,767 Operating right-of-use assets amortization 30,429 30,494 Depreciation and other amortization 27,842 28,242 Share-based compensation 4,531 5,981 Other (957 ) (1,351 ) Changes in operating assets and liabilities: Inventory 2,052 4,969 Prepaid expenses and other current assets (11,114 ) (4,578 ) Prepaid income taxes (4,056 ) (2,564 ) Deposits and other noncurrent assets (3,375 ) (6,433 ) Accounts payable 31,876 2,969 Accrued and other current liabilities 10,775 (5,954 ) Operating lease liabilities (33,527 ) (31,565 ) Other noncurrent liabilities (588 ) (468 ) Deferred compensation (1,739 ) 507 Due to related parties (4,999 ) (5,975 ) Income taxes payable (2,609 ) — Net cash provided by operating activities 65,366 33,730 INVESTING ACTIVITIES Purchases of property and equipment (12,617 ) (15,228 ) Net cash used in investing activities (12,617 ) (15,228 ) FINANCING ACTIVITIES Proceeds from revolving credit facility 62,780 455,110 Principal payments on revolving credit facility (70,050 ) (458,390 ) Principal payments on term loan (13,125 ) (13,125 ) Proceeds from issuances under share-based compensation plans 704 320 Withholding tax payments related to vesting of restricted stock units and awards (675 ) (249 ) Net cash used in financing activities (20,366 ) (16,334 ) Effect of foreign currency exchange rate changes on cash, cash equivalents and restricted cash (165 ) (141 ) Increase in cash, cash equivalents and restricted cash 32,218 2,027 Cash, cash equivalents and restricted cash at beginning of period 12,134 13,935 Cash, cash equivalents and restricted cash at end of period $ 44,352 $ 15,962 SUPPLEMENTAL INFORMATION Cash paid during the period for interest related to the revolving credit facility and term loan $ 27,080 $ 24,852 Cash paid during the period for income taxes $ 14,200 $ 10,976 SUPPLEMENTAL DISCLOSURE OF NON-CASH INVESTING AND FINANCING ACTIVITIES Property and equipment purchases included in accounts payable and accrued liabilities $ 1,450 $ 3,360 Non-GAAP Reconciliation The following table provides a reconciliation of Net loss to Adjusted EBITDA for the periods presented (dollars in thousands): Three Months Ended November 2, 2024 October 28, 2023 Net loss $ (1,194 ) $ (2,748 ) Interest expense 8,784 9,757 Other income, net of other expense (362 ) 267 Benefit from income taxes (26 ) (394 ) Depreciation and amortization (A) 8,523 8,785 Share-based compensation (B) 685 1,585 Non-cash deductions and charges (C) 112 409 Other expenses (D) 3,062 1,718 Adjusted EBITDA $ 19,584 $ 19,379 (A) Depreciation and amortization excludes amortization of debt issuance costs and original issue discount that are reflected in interest expense. (B) During the three months ended November 2, 2024 and October 28, 2023, share-based compensation includes $(0.3) million and $0.1 million, respectively, for awards that will be settled in cash as they are accounted for as share-based compensation in accordance with ASC 718, Compensation—Stock Compensation , similar to awards settled in shares. (C) Non-cash deductions and charges includes non-cash losses on property and equipment disposals and the net impact of non-cash rent expense. (D) Other expenses include certain transaction and litigation fees (including certain settlement costs) and severance costs for certain key management positions. View source version on businesswire.com : https://www.businesswire.com/news/home/20241203834068/en/ CONTACT: Investors Lyn Walther IR@torrid.com Media Joele Frank, Wilkinson Brimmer Katcher Michael Freitag / Arielle Rothstein / Lyle Weston Media@torrid.com KEYWORD: UNITED STATES NORTH AMERICA CALIFORNIA INDUSTRY KEYWORD: RETAIL ONLINE RETAIL DEPARTMENT STORES FASHION SOURCE: Torrid Holdings Inc. Copyright Business Wire 2024. PUB: 12/03/2024 04:05 PM/DISC: 12/03/2024 04:06 PM http://www.businesswire.com/news/home/20241203834068/enThousands of protesters marched in the Georgian capital Tbilisi Saturday for the 10th day of rallies sparked by a disputed election and the government's decision to shelve EU accession talks. Demanding fresh elections and a return to European integration, the demonstrators headed towards parliament, undeterred by a police crackdown on pro-EU protesters and attacks on the opposition. The Caucasus nation has been engulfed in turmoil since the governing Georgian Dream party declared victory in a disputed October 26 election. The government last week said it would suspend talks to join the European Union, sparking a fresh wave of demonstrations. Its critics accuse it of creeping authoritarianism and of steering the country back towards Russia. Georgia's pro-Western President Salome Zurabishvili -- at loggerheads with the ruling party -- said on social media she had had "in-dept discussion" with the US president-elect Donald Trump and French counterpart Emmanuel Macron in Paris. She said they had discussed the "stolen election and extremely alarming repression against the people of Georgia. "Underscored the need for a strong US," she added. "The Georgian people have a friend in Donald Trump." Ukraine's leader Volodymyr Zelensky -- whose country has been fighting a Russian invasion for almost three years -- said Saturday he fully backed Georgia's anti-government protesters. Zelensky urged Tbilisi to stop "surrendering" to Moscow in a meeting with Zurabishvili in Paris. He has warned of Russian influence in Georgia for months. Zurabishvili has denounced widespread fraud in October's parliamentary polls, branding the freshly elected legislature and government "illegitimate". Blowing horns and whistles, pro-European protesters marched Saturday from Tbilisi State University towards parliament, blocking one of the city's main traffic arteries, an AFP reporter saw. As on previous nights, some demonstrators banged on the metal barriers blocking the parliament's entrance. Others pointed laser beams at the building and the police blocking the adjacent streets. "They are trying to arrest us, punish us, but we won't back down, we are not afraid," said 19-year-old protester Giorgi Romanadze. "This is our last chance to be free, to be happy. We want Europe, and Europe only." Some demonstrators held signs reading "We demand free and fair elections" and "Free all unjustly arrested," as calls for stronger international backing grew louder among the protesters. "We are fighting for our freedom... and we want the international community to help us," said 32-year-old Teona Chakvetadze. "We need the international community to sanction our oligarchs and this illegitimate government.... We can't win this fight on our own." Independent television station Pirveli reported that dozens of masked men had severely beaten its journalists. Police officers stood by without intervening during the incident near the protest venue. The opposition alliance, For Change, released CCTV footage showing the masked men raiding its office and badly beating opposition figure Koba Khabazi. The Georgian Dream government's security forces had faced persistent accusations of deploying plainclothes security agents to target and attack political opponents. The crackdown has triggered outrage at home and mounting international condemnation. Officers have made hundreds of arrests, including 48 at a protest on Friday. The country's rights ombudsman has accused the police of "torture" against those detained, with scores reporting mistreatment or showing visible injuries. With both sides ruling out a compromise, there appeared to be no clear route out of the crisis. The United States, France and Germany are among the Western countries to have denounced the crackdown on protests, but the government has refused to back down. Prime Minister Irakli Kobakhidze has praised his security forces after several opposition party offices were raided and their leaders arrested. "We have won an important battle against liberal fascism in our country," he told journalists, using language reminiscent of Kremlin rhetoric against its political opponents. Demonstrators have rejected Kobakhidze's characterisation of the protest movement. Thousands have also staged daily protests in other parts of Georgia, including the cities of Batumi, Kutaisi, Rustavi, Zugdidi, and Telavi, local media reported. Critics of Georgian Dream are enraged by what they call its betrayal of the country's bid for EU membership, enshrined in the constitution and supported by around 80 percent of the population. Georgian Dream, in power for more than a decade, has advanced controversial legislation in recent years, targeting civil society and independent media and curbing LGBTQ rights. Brussels has warned that such policies are incompatible with EU membership, while domestic detractors accuse the government of copying Russia's playbook. ub-im/jj