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winph99. com NoneFour Canadian women honoured in World Rugby's Dream Teams of the Year MONACO — Canadians Alex Tessier, Sophie de Goede and Laetitia Royer have been named to World Rugby's Women’s 15s Dream Team of the Year. Canada sevens captain Olivia Apps, meanwhile, was selected to World Rugby's Women’s Sevens Dream Team. Canadian Press Nov 27, 2024 2:12 PM Nov 27, 2024 2:35 PM Share by Email Share on Facebook Share on X Share on LinkedIn Print Share via Text Message France's Marine Menager grabs Canada's Alex Tessier's leg as she runs the ball during WXV 1 women's rugby union action, in Vancouver on Sept. 29, 2024. THE CANADIAN PRESS/Ethan Cairns MONACO — Canadians Alex Tessier, Sophie de Goede and Laetitia Royer have been named to World Rugby's Women’s 15s Dream Team of the Year. Canada sevens captain Olivia Apps, meanwhile, was selected to World Rugby's Women’s Sevens Dream Team. The women's 15s world all-star squad also featured six players from top-ranked England and three from No. 2 New Zealand. The other three came from the U.S., Ireland and France. Tessier was also a finalist for the World Rugby Women’s 15s Player of the Year award won by England fullback Ellie Kildunne. France's Pauline Bourdon Sansus and England's Alex Matthews were the other finalists. Tessier won her 50th cap in 2024 and, playing at inside centre alongside fly half Claire Gallagher, led the Canada women to a historic first-ever victory over New Zealand to win the 2024 Pacific Four Series in May. The 22-19 comeback victory lifted Canada into second place in the women’s world rankings, its highest position since November 2016. Tessier's strong kicking game was also key for Canada. The 31-year-old from Sainte-Clotilde-de-Horton, Que., scored 27 points in starting all six matches for Canada in 2024 to up her career total to 48 points (including five tries) in 54 appearances. Tessier plays professionally in England for the Exeter Chiefs. De Goede made the all-star team despite tearing her anterior cruciate ligament in training in June. A finalist for the Women's Player of the Year award in 2022, the Victoria back-rower plays in England for Saracens. Royer, from Loretteville, Que., is a second-row forward who plays in France for ASM Romagnat. Top-ranked South Africa dominated the men's 15s all-star squad with seven players represented. Ireland had four players with New Zealand three and Argentina one. --- World Rugby's 15s Dream Teams of the Year Women 1. Hope Rogers (U.S.); 2. Georgia Ponsonby (New Zealand); 3. Maud Muir (England); 4. Zoe Aldcroft (England); 5. Laetitia Royer (Canada) ; 6. Aoife Wafer (Ireland)' 7. Sophie de Goede (Canada) ; 8. Alex Matthews (England); 9. Pauline Bourdon Sansus (France); 10. Holly Aitchison (England); 11. Katelyn Vahaakolo (New Zealand); 12. Alex Tessier (Canada) ; 13. Sylvia Brunt (New Zealand); 14. Abby Dow (England); 15. Ellie Kildunne (England). Men 1. Ox Nche (South Africa); 2. Malcolm Marx (South Africa); 3. Tyrel Lomax (New Zealand); 4. Eben Etzebeth (South Africa); 5. Tadhg Beirne (Ireland); 6. Pablo Matera (Argentina); 7. Pieter-Steph du Toit (South Africa); 8. Caelan Doris (Ireland); 9. Jamison Gibson-Park (Ireland); 10. Damian McKenzie (New Zealand); 11. James Lowe (Ireland); 12. Damian de Allende (South Africa); 13. Jesse Kriel (South Africa); 14. Cheslin Kolbe (South Africa); 15. Will Jordan (New Zealand). World Rugby Sevens Dreams Team of the Year Women Olivia Apps (Canada) , Michaela Blyde (New Zealand), Kristi Kirshe (U.S.), Maddison Levi (Australia), Ilona Maher (U.S.), Jorja Miller (New Zealand), Séraphine Okemba (France). Men Selvyn Davids (South Africa), Antoine Dupont (France), Aaron Grandidier Nkanang (France), Terry Kennedy (Ireland), Nathan Lawson (Australia), Ponipate Loganimasi (Fiji), Matías Osadczuk (Argentina). This report by The Canadian Press was first published Nov. 27, 2024. The Canadian Press See a typo/mistake? Have a story/tip? This has been shared 0 times 0 Shares Share by Email Share on Facebook Share on X Share on LinkedIn Print Share via Text Message More National Sports Hometown favourite Gushue beats Carruthers at Grand Slam's Kioti National Nov 27, 2024 2:13 PM Robert Wickens moving up to IMSA GTD series in 2025 thanks to new Bosch hand controls Nov 27, 2024 2:03 PM RCMP investigating death of Edmonton man after mixed martial arts fight Nov 27, 2024 1:14 PM Featured FlyerHemant Soren will take oath as the 14th chief minister of Jharkhand at the Morabadi Ground on Thursday, November 28. Governor Santosh Kumar Gangwar will administer the oath of office and secrecy to the 49-year-old Jharkhand Mukti Morcha (JMM) leader at 4 pm. Several key leaders from the INDIA bloc and other political parties will be in attendance at Soren’s swearing-in ceremony. Soren, who retained the Barhait assembly seat with a margin of 39,791 votes in the recently held elections, will take charge of the CM office for the fourth time. ALSO READ | Jharkhand election results 2024: Here's the full list of winners Jharkhand elections 2024 The JMM-led alliance achieved a notable victory in the Jharkhand polls by securing 56 of the 81 seats in the state Assembly. The BJP-led NDA managed to bag 24 seats. JMM saw its highest-ever election tally, winning 34 of the 43 seats it contested. Of its alliance partners, Congress bagged 21 seats, Rashtriya Janata Dal got 4 seats and the Communist Party of India (Marxist-Lennist)(Liberation) secured two seats. ALSO READ | How did the JMM win Jharkhand? Reportedly, as per the power-sharing deal in the INDIA bloc, RJD is likely to get one ministerial berth in Soren’s cabinet. After being unanimously elected as the legislature party leader by the INDIA bloc in the state on Sunday, Soren met Jharkhand Governor Santosh Kumar Gangwar and staked a claim to form the government. Soren’s victory speech After emerging victorious in the Jharkhand Assembly elections, Hemant Soren thanked the people of the state for their “continued trust in our leadership”. “This victory reflects the aspirations of the people, and we will work towards fulfilling them. This is a victory of the people and their vision for a peaceful and progressive Jharkhand,” he added. ALSO READ | ‘Don’t think I’ll face such a tough election again’: Jharkhand’s Hemant Soren Soren said that the mandate Jharkhand has given his party and his alliance, they are “ready to serve them with dedication and resolve”. Hemant Soren meets PM Modi On Tuesday, the JMM leader and his wife Kalpana Soren met Prime Minister Narendra in Delhi. "I had a constructive meeting with the Prime Minister, where we discussed Jharkhand’s growth and development. His support is valuable as we move forward with our plans," he said. Notably, Soren had also met leaders of the INDIA bloc, Congress national president Mallikarjun Kharge, Rahul Gandhi as well as Aam Aadmi Party’s Arvind Kejriwal, and invited them to the swearing-in ceremony. ALSO READ | Why the BJP failed to make a mark among the tribals of Jharkhand "We are united in our goal to work for the betterment of Jharkhand and its people," he said. Soren’s oath-taking ceremony Preparations for Hemant Soren’s swearing-in ceremony are in full swing, with posters being put up across Ranchi and special security arrangements in place. Along with senior officials, Soren paid a visit to the Morabadi ground on Wednesday to take stock of the preparations for the oath-taking ceremony. Notably, Congress general secretary and Jharkhand in-charge Ghulam Ahmad Mir said that Soren is likely to take the oath alone, adding that his cabinet expansion will take place after a vote of confidence in the state Assembly. Who all are attending? Hemant Soren appealed to the public to attend his swearing-in ceremony and also shared a live stream YouTube link for the event. Political leaders that are likely to attend the oath-taking ceremony of Hemant Soren are: Congress national president Mallikarjun Kharge Congress leader Rahul Gandhi NCP(SP) chief Sharad Pawar West Bengal Chief Minister Mamata Banerjee Meghalaya Chief Minister Conrad Sangma Punjab Chief Minister Bhagwant Mann Himachal Pradesh Chief Minister Sukhvinder Singh Sukhu CPI(ML) general secretary Dipankar Bhattacharya AAP leader Arvind Kejriwal Shiv Sena (UBT) leader Uddhav Thackeray Samajwadi Party Chief Akhilesh Yadav PDP leader Mehbooba Mufti Tamil Nadu minister Udhayanidhi Stalin Karnataka Deputy CM DK Shivakumar Bihar’s LoP Tejashwi Yadav “It’s heartening to have such esteemed leaders join us for this important occasion,” Soren had said.

NoneNet sales increased 2% versus last year with comparable sales up 1% Operating margin of 9.3% improved 270 basis points versus last year Market share gains across all brands in the quarter Raises outlook for fiscal 2024 net sales, gross margin and operating income growth SAN FRANCISCO , Nov. 21, 2024 /PRNewswire/ -- Gap Inc. GAP , the largest specialty apparel company in the U.S. and a house of iconic brands including Old Navy, Gap, Banana Republic, and Athleta, today reported financial results for its third quarter ended November 2, 2024. "I'm proud that Gap Inc. delivered another successful quarter, growing net sales for the 4 th consecutive quarter and gaining market share across all brands while meaningfully expanding operating margin," said President and Chief Executive Officer, Richard Dickson . "Consistent execution of our strategic priorities, including the rigor and repetition we're applying to our brand reinvigoration playbook, is making us a stronger company and demonstrates our continued progress in unlocking Gap Inc.'s full potential." Dickson continued: "Holiday is off to a strong start and we remain focused on executing with excellence in the fourth quarter. Our performance year-to-date gives us the confidence to raise our full year outlook for sales, gross margin and operating income growth." Third Quarter Fiscal 2024 – Financial Results Net sales of $3.8 billion were up 2% compared to last year. Comparable sales were up 1% year-over-year. Due to the 53 rd week in fiscal 2023, in order to maintain consistency, comparable sales for the third quarter of fiscal 2024 are compared to the 13 weeks ended November 4, 2023 . Store sales decreased 2% compared to last year. The company ended the quarter with 3,603 store locations in about 40 countries, of which 2,544 were company operated. Online sales increased 7% compared to last year and represented 40% of total net sales. Gross margin of 42.7% increased 140 basis points versus last year's gross margin. Merchandise margin increased 90 basis points versus last year primarily driven by improved inventory management. Rent, occupancy, and depreciation (ROD) as a percent of sales leveraged 50 basis points versus last year. Operating expense was $1.3 billion . Operating income was $355 million ; operating margin of 9.3%. The effective tax rate was 24%. Net income of $274 million ; diluted earnings per share of $0.72 . Balance Sheet and Cash Flow Highlights Ended the quarter with cash, cash equivalents and short-term investments of $2.2 billion , an increase of 64% from the prior year. Year-to-date net cash from operating activities was $870 million . Year-to-date free cash flow , defined as net cash from operating activities less purchases of property and equipment, was $540 million . Ending inventory of $2.33 billion was down 2% compared to last year. Capital expenditures were $330 million . Paid a third quarter dividend of $0.15 per share, totaling $57 million. The company's Board of Directors approved a fourth quarter fiscal 2024 dividend of $0.15 per share. Additional information regarding free cash flow, which is a non-GAAP financial measure, is provided at the end of this press release along with a reconciliation of this measure from the most directly comparable GAAP financial measure for the applicable period. Third Quarter Fiscal 2024 – Global Brand Results Comparable Sales Third Quarter 2024 2023 Old Navy — % 1 % Gap 3 % (1) % Banana Republic (1) % (8) % Athleta 5 % (19) % Gap Inc. 1 % (2) % Old Navy: Third quarter net sales of $2.2 billion were up 1% compared to last year. Comparable sales were flat. The brand's continued focus on operational rigor and brand reinvigoration drove solid performance in the quarter, despite lapping tougher compares and facing weather-related headwinds. Gap: Third quarter net sales of $899 million were up 1% compared to last year. Comparable sales were up 3% representing the fourth consecutive quarter of positive comparable sales at the brand. Gap's strong product and marketing execution have helped drive continued momentum and consistent results at the brand. Banana Republic: Third quarter net sales of $469 million were up 2% compared to last year. Comparable sales were down 1%. The brand saw strength in its men's business during the quarter and remains focused on fixing the fundamentals. Athleta: Third quarter net sales of $290 million were up 4% compared to last year. Comparable sales were up 5%. As expected, the brand returned to positive comparable sales in the quarter as its new product and marketing are resonating with customers. Fiscal 2024 Outlook As a result of its strong third quarter results, the company is raising its full year outlook for net sales, gross margin and operating income growth compared to prior expectations. Please note that the company's projected full year fiscal 2024 operating income growth below is provided in comparison to its full year fiscal 2023 adjusted operating income, which excludes $93 million in restructuring costs and a $47 million gain on sale of a building. Full Year Fiscal 2024 Current FY24 Outlook Prior FY24 Outlook FY23 Results Net sales Up 1.5% to 2.0% on a 52-week basis Up slightly on a 52-week basis $14.9 billion 1 Gross margin Approximately 220 bps expansion Approximately 200 bps expansion 38.8 % Operating expense Approximately $5.1 billion Approximately $5.1 billion $5.17 billion (adjusted) 2 Operating income Mid to High 60% growth range Mid to High 50% growth range $606 million (adjusted) 3 Effective tax rate Approximately 26.5% Approximately 28% 9.7 % Capital expenditures Approximately $500 million Approximately $500 million $420 million 1 Fiscal year 2023 consisted of 53 weeks and the extra week drove approximately $160 million of incremental sales. 2 Fiscal year 2023 adjusted operating expense of $5.17 billion excludes $89 million in restructuring costs and a $47 million gain on sale. 3 Fiscal year 2023 adjusted operating income of $606 million excludes $93 million in restructuring costs and a $47 million gain on sale. Webcast and Conference Call Information Whitney Notaro , Head of Investor Relations at Gap Inc., will host a conference call to review the company's third quarter fiscal 2024 results beginning at approximately 2:00 p.m. Pacific Time today. Ms. Notaro will be joined by President and Chief Executive Officer, Richard Dickson and Chief Financial Officer, Katrina O'Connell . A live webcast of the conference call and accompanying materials will be available online at investors.gapinc.com . A replay of the webcast will be available at the same location. Non-GAAP Disclosure This press release and related conference call include financial measures that have not been calculated in accordance with U.S. generally accepted accounting principles (GAAP) and are therefore referred to as non-GAAP financial measures. The non-GAAP measures described below are intended to provide investors with additional useful information about the company's financial performance, to enhance the overall understanding of its past performance and future prospects, and to allow for greater transparency with respect to important metrics used by management for financial and operating decision-making. The company presents these non-GAAP financial measures to assist investors in seeing its financial performance from management's view and because it believes they provide an additional tool for investors to use in computing the company's core financial performance over multiple periods with other companies in its industry. Additional information regarding the intended use of non-GAAP measures included in this press release and related conference call is provided in the tables to this press release. The non-GAAP measures included in this press release and related conference call are adjusted operating expense/adjusted SG&A, adjusted operating income, adjusted operating margin, adjusted diluted earnings per share, and free cash flow. These non-GAAP measures exclude the impact of certain items that are set forth in the tables to this press release. In addition, the company's outlook includes projected full year fiscal 2024 operating income growth compared to its full year fiscal 2023 adjusted operating income. The non-GAAP measures used by the company should not be considered as a substitute for, or superior to, measures of financial performance prepared in accordance with GAAP and may not be the same as similarly titled measures used by other companies due to possible differences in method and in items or events being adjusted. The company urges investors to review the reconciliation of non-GAAP financial measures to the most directly comparable GAAP financial measures included in the tables to this press release below, and not to rely on any single financial measure to evaluate its business. The non-GAAP financial measures used by the company have limitations in their usefulness to investors because they have no standardized meaning prescribed by GAAP and are not prepared under any comprehensive set of accounting rules or principles. Forward-Looking Statements This press release and related conference call and accompanying materials contain forward-looking statements within the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. All statements other than those that are purely historical are forward-looking statements. Words such as "expect," "anticipate," "believe," "estimate," "intend," "plan," "project," and similar expressions also identify forward-looking statements. Forward-looking statements include statements regarding the following: becoming a high performing company; unlocking Gap Inc.'s potential; our four strategic priorities, including maintaining and delivering financial and operational rigor, the reinvigoration of our brands, strengthening our operating platform, and energizing our culture; driving relevance and revenue by executing on our brand reinvigoration playbook; expectations for Old Navy for the holiday season; accelerating Old Navy's presence in the Active category; Old Navy's holiday activations and product; reigniting Gap brand's leadership in trend-right products and creative expression through big ideas and culturally relevant messaging; reestablishing Banana Republic to thrive in the premium lifestyle space; evolving Banana Republic's assortment and fit; continuing to fix the fundamentals at Banana Republic; Banana Republic's holiday product; Athleta's trajectory; Athleta's holiday product; enhancing Athleta's in-store and online experiences; driving high-performance across our teams; executing with excellence; Gap Inc.'s positioning going into the holiday season; expectations for our full year performance; expected year-end inventory levels; expected full year fiscal 2024 net sales; the expected impact of the loss of the 53rd week on full year fiscal 2024 net sales; expected fourth quarter fiscal 2024 net sales; the expected impacts of the loss of the 53rd week and the weekly calendar shift on fourth quarter fiscal 2024 net sales; expected full year fiscal 2024 gross margin; the expected impacts of commodity costs and better inventory management on full year fiscal 2024 gross margin; expected full year fiscal 2024 ROD; expected fourth quarter fiscal 2024 gross margin; the expected impact of the loss of the 53rd week on fourth quarter fiscal 2024 gross margin; expected full year fiscal 2024 SG&A/operating expense; continuing cost discipline and unlocking more efficiencies in the business; expected full year fiscal 2024 operating income; expected full year fiscal 2024 effective tax rate; expected full year fiscal 2024 capital expenditures; generating sustainable, profitable growth and delivering long-term shareholder value; and our dividend policy. Because these forward-looking statements involve risks and uncertainties, there are important factors that could cause our actual results to differ materially from those in the forward-looking statements. These factors include, without limitation, the following risks, any of which could have an adverse effect on our business, financial condition, results of operations, or reputation: the overall global economic and geopolitical environment, including the ongoing Russia - Ukraine and Israel-Hamas conflicts and recent elections in the United States , and impacts on consumer spending patterns; social and political unrest in our sourcing countries, including Bangladesh , and disruptions to global trade and shipping capacity, including in the Red Sea; the risk that we or our franchisees may be unsuccessful in gauging apparel trends and changing consumer preferences or responding with sufficient lead time; the highly competitive nature of our business in the United States and internationally; the risk that we may be unable to manage our inventory effectively and the resulting impact on our gross margins and sales; the risk that our investments in customer, digital, and omni-channel shopping initiatives may not deliver the results we anticipate; the risk that we fail to maintain, enhance, and protect our brand image and reputation; the risk of loss or theft of assets, including inventory shortage; the risk that we fail to manage key executive succession and retention or continue to attract qualified personnel; reductions in income and cash flow from our credit card arrangement related to our private label and co-branded credit cards; the risk that changes in our business strategy or restructuring our operations may not generate the intended benefits or projected cost savings; the risk that trade matters could increase the cost or reduce the supply of apparel available to us; the risks to our business, including our costs and global supply chain, associated with global sourcing and manufacturing; the risks to our reputation or operations associated with importing merchandise from foreign countries, including failure of our vendors to adhere to our Code of Vendor Conduct; the risk that we or our franchisees may be unsuccessful in identifying, negotiating, and securing new store locations and renewing, modifying, or terminating leases for existing store locations effectively; engaging in or seeking to engage in strategic transactions that are subject to various risks and uncertainties; the risk that our efforts to expand internationally may not be successful; the risk that our franchisees and licensees could impair the value of our brands; the risk of data or other security breaches or vulnerabilities that may result in increased costs, violations of law, significant legal and financial exposure, and a loss of confidence in our security measures; the risk that failures of, or updates or changes to, our IT systems may disrupt our operations; the risk that our comparable sales and margins may experience fluctuations, that we may fail to meet financial market expectations, or that the seasonality of our business may experience fluctuations; the risk of foreign currency exchange rate fluctuations; the risk that our level of indebtedness may impact our ability to operate and expand our business; the risk that we and our subsidiaries may be unable to meet our obligations under our indebtedness agreements; the risk that changes in our credit profile or deterioration in market conditions may limit our access to the capital markets; natural disasters, public health crises (such as pandemics and epidemics), political crises (such as the ongoing Russia - Ukraine and Israel-Hamas conflicts), negative global climate patterns, or other catastrophic events; evolving regulations and expectations with respect to ESG matters, including climate reporting; the adverse effects of climate change on our operations and those of our franchisees, vendors, and other business partners; our failure to comply with applicable laws and regulations and changes in the regulatory or administrative landscape; the risk that we will not be successful in defending various proceedings, lawsuits, disputes, and claims; the risk that our estimates and assumptions used when preparing our financial information are inaccurate or may change; the risk that changes in the geographic mix and level of income or losses, the expected or actual outcome of audits, changes in deferred tax valuation allowances, and new legislation could impact our effective tax rate, or that we may be required to pay amounts in excess of established tax liabilities; the risk that changes in our business structure, our performance or our industry could result in reductions in our pre-tax income or utilization of existing tax carryforwards in future periods, and require additional deferred tax valuation allowances; the risk that the adoption of new accounting pronouncements will impact future results; and the risk that additional information may arise during our close process or as a result of subsequent events that would require us to make adjustments to our financial information. Additional information regarding factors that could cause results to differ can be found in our Annual Report on Form 10-K filed with the Securities and Exchange Commission on March 19, 2024 , as well as our subsequent filings with the Securities and Exchange Commission. These forward-looking statements are based on information as of November 21, 2024 . We assume no obligation to publicly update or revise our forward-looking statements even if experience or future changes make it clear that any projected results expressed or implied therein will not be realized. About Gap Inc. Gap Inc., a house of iconic brands, is the largest specialty apparel company in America. Its Old Navy , Gap , Banana Republic , and Athleta brands offer clothing, accessories, and lifestyle products for men, women and children. Since 1969, Gap Inc. has created products and experiences that shape culture, while doing right by employees, communities and the planet. Gap Inc. products are available worldwide through company-operated stores, franchise stores, and e-commerce sites. Fiscal year 2023 net sales were $14.9 billion . For more information, please visit www.gapinc.com . Investor Relations Contact: Nina Bari Investor_relations@gap.com Media Relations Contact: Megan Foote Press@gap.com The Gap, Inc. CONDENSED CONSOLIDATED BALANCE SHEETS UNAUDITED ($ in millions) November 2, 2024 October 28, 2023 ASSETS Current assets: Cash and cash equivalents $ 1,969 $ 1,351 Short-term investments 250 — Merchandise inventory 2,331 2,377 Other current assets 580 646 Total current assets 5,130 4,374 Property and equipment, net of accumulated depreciation 2,546 2,552 Operating lease assets 3,217 3,200 Other long-term assets 960 926 Total assets $ 11,853 $ 11,052 LIABILITIES AND STOCKHOLDERS' EQUITY Current liabilities: Accounts payable $ 1,523 $ 1,433 Accrued expenses and other current liabilities 1,135 1,078 Current portion of operating lease liabilities 617 604 Income taxes payable 50 24 Total current liabilities 3,325 3,139 Long-term liabilities: Long-term debt 1,489 1,488 Long-term operating lease liabilities 3,360 3,456 Other long-term liabilities 544 509 Total long-term liabilities 5,393 5,453 Total stockholders' equity 3,135 2,460 Total liabilities and stockholders' equity $ 11,853 $ 11,052 The Gap, Inc. CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS UNAUDITED 13 Weeks Ended 39 Weeks Ended ($ and shares in millions except per share amounts) November 2, 2024 October 28, 2023 November 2, 2024 October 28, 2023 Net sales $ 3,829 $ 3,767 $ 10,937 $ 10,591 Cost of goods sold and occupancy expenses 2,194 2,211 6,322 6,488 Gross profit 1,635 1,556 4,615 4,103 Operating expenses 1,280 1,306 3,762 3,757 Operating income 355 250 853 346 Interest, net (6) — (12) 8 Income before income taxes 361 250 865 338 Income tax expense 87 32 227 21 Net income $ 274 $ 218 $ 638 $ 317 Weighted-average number of shares - basic 377 371 376 369 Weighted-average number of shares - diluted 383 375 383 373 Earnings per share - basic $ 0.73 $ 0.59 $ 1.70 $ 0.86 Earnings per share - diluted $ 0.72 $ 0.58 $ 1.67 $ 0.85 The Gap, Inc. CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS UNAUDITED 39 Weeks Ended ($ in millions) November 2, 2024 (a) October 28, 2023 (a) Cash flows from operating activities: Net income $ 638 $ 317 Depreciation and amortization 371 394 Gain on sale of building — (47) Change in merchandise inventory (344) (5) Change in accounts payable 156 133 Other, net 49 40 Net cash provided by operating activities 870 832 Cash flows from investing activities: Purchases of property and equipment (330) (288) Net proceeds from sale of building — 76 Purchases of short-term investments (343) — Proceeds from sales and maturities of short-term investments 97 — Net proceeds from divestiture activity, net of cash paid — 9 Net cash used for investing activities (576) (203) Cash flows from financing activities: Repayments of revolving credit facility — (350) Proceeds from issuances under share-based compensation plans 27 18 Withholding tax payments related to vesting of stock units (48) (16) Cash dividends paid (169) (166) Other (3) (2) Net cash used for financing activities (193) (516) Effect of foreign exchange rate fluctuations on cash, cash equivalents, and restricted cash (4) (7) Net increase in cash, cash equivalents, and restricted cash 97 106 Cash, cash equivalents, and restricted cash at beginning of period 1,901 1,273 Cash, cash equivalents, and restricted cash at end of period $ 1,998 $ 1,379 ____________________ (a) For the thirty-nine weeks ended November 2, 2024 and October 28, 2023, total cash, cash equivalents, and restricted cash includes $29 million and $28 million, respectively, of restricted cash recorded within other long-term assets on the Condensed Consolidated Balance Sheets. The Gap, Inc. NON-GAAP FINANCIAL MEASURES UNAUDITED FREE CASH FLOW Free cash flow is a non-GAAP financial measure. We believe free cash flow is an important metric because it represents a measure of how much cash a company has available for discretionary and non-discretionary items after the deduction of capital expenditures. We require regular capital expenditures including technology improvements as well as building and maintaining our stores and distribution centers. We use this metric internally, as we believe our sustained ability to generate free cash flow is an important driver of value creation. However, this non-GAAP financial measure is not intended to supersede or replace our GAAP results. 39 Weeks Ended ($ in millions) November 2, 2024 October 28, 2023 Net cash provided by operating activities $ 870 $ 832 Less: Purchases of property and equipment (330) (288) Free cash flow $ 540 $ 544 The Gap, Inc. NON-GAAP FINANCIAL MEASURES UNAUDITED ADJUSTED STATEMENT OF OPERATIONS METRICS FOR THE THIRD QUARTER OF FISCAL YEAR 2023 The following adjusted statement of operations metrics are non-GAAP financial measures. These measures are provided to enhance visibility into the Company's underlying results for the period excluding the impact of restructuring costs. Management believes the adjusted metrics are useful for the assessment of ongoing operations as we believe the adjusted items are not indicative of our ongoing operations, and provide additional information to investors to facilitate the comparison of results, on an annualized basis, against past and future years. However, these non-GAAP financial measures are not intended to supersede or replace the GAAP measures. Operating Expenses Operating Expenses as a % of Net Sales (b) Operating Income Operating Margin (b) Income Tax Expense Net Income Earnings per Share - Diluted ($ in millions) 13 Weeks Ended October 28, 2023 GAAP metrics, as reported $ 1,306 34.7 % $ 250 6.6 % $ 32 $ 218 $ 0.58 Adjustments for: Restructuring costs (a) (5) (0.1) % 5 0.1 % 2 3 0.01 Non-GAAP metrics $ 1,301 34.5 % $ 255 6.8 % $ 34 $ 221 $ 0.59 ____________________ (a) Primarily represents consulting and other associated costs related to our previously announced actions to further simplify and optimize our operating model and structure. (b) Metrics were computed individually for each line item; therefore, the sum of the individual lines may not equal the total. The Gap, Inc. NET SALES RESULTS UNAUDITED The following table details the Company's third quarter fiscal year 2024 and 2023 net sales (unaudited): ($ in millions) Old Navy Global Gap Global Banana Republic Global Athleta Global Other (2) Total 13 Weeks Ended November 2, 2024 U.S. (1) $ 1,949 $ 683 $ 406 $ 281 $ 21 $ 3,340 Canada 190 95 43 9 — 337 Other regions 11 121 20 — — 152 Total $ 2,150 $ 899 $ 469 $ 290 $ 21 $ 3,829 ($ in millions) Old Navy Global Gap Global Banana Republic Global Athleta Global Other (2) Total 13 Weeks Ended October 28, 2023 U.S. (1) $ 1,917 $ 664 $ 398 $ 267 $ 15 $ 3,261 Canada 193 96 42 10 — 341 Other regions 16 127 20 2 — 165 Total $ 2,126 $ 887 $ 460 $ 279 $ 15 $ 3,767 ____________________ (1) U.S. includes the United States and Puerto Rico. (2) Primarily consists of net sales from revenue-generating strategic initiatives. The Gap, Inc. REAL ESTATE Store count, openings, closings, and square footage for our stores are as follows: February 3, 2024 39 Weeks Ended November 2, 2024 November 2, 2024 Number of Store Locations Number of Stores Opened Number of Stores Closed Number of Store Locations Square Footage (in millions) Old Navy North America 1,243 19 7 1,255 19.9 Gap North America 472 3 14 461 4.9 Gap Asia 134 — 9 125 1.1 Banana Republic North America 400 3 10 393 3.3 Banana Republic Asia 43 2 5 40 0.1 Athleta North America 270 2 2 270 1.1 Company-operated stores total 2,562 29 47 2,544 30.4 Franchise 998 121 60 1,059 N/A Total 3,560 150 107 3,603 30.4 View original content to download multimedia: https://www.prnewswire.com/news-releases/gap-inc-reports-third-quarter-fiscal-2024-results-raises-full-year-outlook-302313560.html SOURCE Gap Inc. © 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

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By LINDSEY BAHR Do you have a someone in your life who plays Vulture’s Cinematrix game every morning? Or maybe they have the kitchen television turned to Turner Classic Movies all day and make a point of organizing Oscar polls at work? Hate to break it to you: They might be a hard-to-please cinephile. But while you might not want to get into a winless debate over the “Juror No. 2” release or the merits of “Megalopolis” with said person, they don’t have to be hard to buy gifts for. The Associated Press has gathered up some of the best items out there to keep any movie lover stylish and informed. While Christopher Nolan dreams up his next film, fans can tide themselves over by revisiting his modern classic “Interstellar,” which will be back in IMAX theaters on the weekend of Dec. 6, followed by the home release of a new collector’s edition on 4K Ultra HD and Blu-ray ($59.95). A third disc in the set, available Dec. 10, contains more than two hours of bonus content, like a never-before-seen storyboard sequence, and new interviews with Nolan, producer Emma Thomas and famous fans Peter Jackson and Denis Villeneuve . Elaine May does not give interviews anymore. But thankfully that didn’t deter writer Carrie Courogen, who did a remarkable job stitching together the life of one of our culture’s most fascinating, and prickly, talents. “Miss May Does Not Exist” is full of delightful anecdotes about the sharp and satirical comedian who gained fame as one half of Nichols and May and went on to direct films like “The Heartbreak Kid” and “Mikey and Nicky.” Courogen writes about May’s successes, flops and her legendary scuffles with the Hollywood establishment. It’s a vital companion to Mark Harris’ biography of Mike Nichols . Macmillan. $30. The Academy Museum of Motion Pictures has an exclusive new “Matrix” sweatshirt for sale in conjunction with its Cyberpunk exhibition. Brain Dead Studios designed and created several items, including the black hoodie ($140), a white rabbit tee ($54) and a pint glass ($18). If you can’t make it to Los Angeles to check out the “Color in Motion” exhibit for yourself, the Academy Museum also has a beautiful new companion book for sale ($55) charting the development of color technology in film and its impact. It includes photos from films like “The Red Shoes,” “Vertigo,” “2001: A Space Odyssey,” and images of rare prints from the silent era. The Academy Museum Store is having a sale (20% off everything) from Nov. 28 to Dec. 2. Related Articles Things To Do | US airports with worst weather delays during holiday season Things To Do | The right book can inspire the young readers in your life, from picture books to YA novels Things To Do | These holiday gifts change the game when building fires, printing photos, watching birds and more Things To Do | ‘Gladiator II’ review: Are you not moderately entertained? Things To Do | Beer pairings for your holiday feasts Want to look like a real film festival warrior, the kind who sees five movies a day, files a review and still manages to make the late-night karaoke party? You’re going to need the ultimate status tote from the independent streaming service MUBI . Simple, to-the-point and only for people in the know. $25. Film magazines may be an endangered species, but print is not dead at The Metrograph . Manhattan’s coolest movie theater is starting a biannual print publication “for cinephiles and cultural connoisseurs alike.” The first issue’s cover art is by cinematographer Ed Lachman (“Carol”), and contributors include the likes of Daniel Clowes, Ari Aster, Steve Martin and Simon Rex. There’s also a conversation with Clint Eastwood. It’s currently available for pre-order and will be in bookstores Dec. 10 for $25 ($15 for Metrograph members). This is not a book about filmmaking styles, camera angles and leadership choices. It’s literally about what directors wear. “How Directors Dress: On Set, in the Edit, and Down the Red Carpet” ($40) has over 200 archival photos of filmmakers in action: Spike Lee in his basketball caps, Sofia Coppola in her Charvet button-ups, Steven Spielberg’s denim on denim and many more. With a forward by the always elegant Joanna Hogg and writing from some of the top fashion journalists, it’s a beautiful look at how filmmakers really dress for work — and might even be a source of inspiration.Blinken meets Jordan’s King Abdullah in Syria diplomacy pushNone

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Sambhal: Three people were killed and scores of others, including around 20 security personnel and four personnel of the administration, were injured as protesters opposing a court-ordered survey of a Mughal-era mosque here clashed with police on Sunday.

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Breyten Breytenbach, who died Sunday, was one of South Africa's most honoured writers, who found beauty in his Afrikaans language but was horrified at the white supremacy imposed by his government. The poet, author and painter had not lived in South Africa for decades, leaving in the early 1960s to settle in Paris, where he became a global voice against apartheid. What was intended to be a short and secret trip back in 1975 led to him spending seven years in jail, two in solitary confinement, after he was betrayed and arrested. French president Francois Mitterrand helped secure his release in 1982 and he returned to France to become a citizen. He travelled back to South Africa regularly, according to his daughter Daphnee Breytenbach, who confirmed his death to AFP. "My father, the South African painter and poet Breyten Breytenbach, died peacefully on Sunday, November 24, in Paris, at the age of 85," she said. "Immense artist, militant against apartheid, he fought for a better world until the end." Breytenbach was born in the small Western Cape town of Bonnievale in 1939 at a time when Afrikaans was emerging with a distinct identity as a language, having been derided as "kitchen Dutch". When in 1964 Breytenbach published his first volume of poetry -- "Die ysterkoei moet sweet", or The Iron Cow Must Sweat -- Afrikaans was not just ascendent but had given the name "apartheid" to South Africa's brutal system of racial segregation. With Afrikaners in power, their language became ever more associated with the regime. "I'd never reject Afrikaans as a language, but I reject it as part of the Afrikaner political identity. I no longer consider myself an Afrikaner," he said in an interview with The New York Times the following year. In his language and politics, Breytenbach pushed back against the strictures of the country in which he was born. He travelled around Europe in his early 20s, eventually settling in 1962 in Paris, where he met his wife, Yolande Ngo Thi Hoang Lien, who was born in Vietnam and raised in France. She was refused a visa to visit South Africa in the late 1960s as she was considered "non-white" by the apartheid system. Breytenbach returned to the country in the early 1970s on a false passport to deliver money to the anti-apartheid struggle and meet white activists. But he was discovered and sentenced to nine years in prison, serving seven. Of his more than 50 books, most are in Afrikaans. His acclaimed 1984 prison memoir, "The True Confession of an Albino Terrorist", is in English. In the book, he recalls the horrors of hearing fellow inmates being hanged, often for political crimes. "Very often –- no, all the time really –- I relive those years of horror and corruption, and I try to imagine, as I did then with the heart an impediment to breathing, what it must be like to be executed. What it must be like to be. Executed," he wrote. His path crossed once, briefly, with another famous inmate. Nelson Mandela was for a time transferred from Robben Island to Pollsmoor prison in Cape Town, where Breytenbach was serving his time. The writer was tasked with preparing new prison clothes for the future president. Breytenbach eventually turned to painting to portray surreal human and animal figures, often in captivity, with his art displayed in Johannesburg, Brussels, Amsterdam, Hong Kong and Paris. His literature gathered several prizes, including the international Zbigniew Herbert International Literary Award (2017), the Mahmoud Darwish Literature Prize (2010) and the Van der Hoogt prize for Dutch literature (1972). "His poems are rich in metaphors and are a complex mixture of references to Buddhism, Afrikaans idiomatic speech, and memories of the South African landscape," according to the Hague-based Writers Unlimited foundation. For all his activism, when democracy arrived in 1994, the older and gray-bearded Breytenbach did not return to embrace the new South Africa. He wrestled with the failings of the democratic government, even with Mandela, despairing at what he called in Harpers magazine in 2008 the "seemingly never-ending parade of corrupt clowns in power at all levels". Breytenbach also taught at the University of Cape Town, the Goree Institute in Dakar and New York University. zm-gs-br/lhd/jsIt's fast becoming the most hated rebrand in history. When luxury car maker Jaguar launched a 30-second “teaser” advertisement featuring strutting models in brightly coloured outfits, it set social media ablaze – for all the wrong reasons. The ad, buzzing with the slogans “Copy Nothing” and “Live Vivid”, didn’t feature a single car. Also notably absent was the company’s iconic and much-loved pouncing cat logo, which is being retired in favour of a “modern” design. Viewers horrified by the meaningless mess ridiculed the brand’s bosses on comment sections. “This isn’t an ad, it’s Jaguar’s funeral,” wrote one YouTuber. Comedian Ricky Gervais parodied the ad with a selfie of himself in the bath, pulling a face and holding a bottle of his Dutch Barn vodka, titled: “Copy Nothing.” And Tesla chief Elon Musk asked bosses: “Do you sell cars?” on his social media platform X. The controversy, defended by Jaguar Land Rover’s managing director this week, is the latest example of a brand pursuing an apparently “woke” agenda to appease and hopefully attract socially-conscious, younger audiences. But at what cost? In recent years there has been a super-charging of brands jumping on the social responsibility bandwagon, and creating polarising adverts that alienate loyal customers as they aggressively market messages of diversity and empowerment. It’s given rise to the popular refrain of “Go Woke, Go Broke” – a powerful consumer backlash where fed-up customers boycott a brand, plummeting its stock value, to send a clear message of their dissatisfaction. Nike is among the high-profile victims of this modern phenomenon. In 2018, people posted images of themselves burning their Nike shoes and clothing after the sportswear giant featured NFL quarterback Colin Kaepernick in an ad. He had previously kneeled at a game to protest racial injustice. Sales plummeted by more than 3%. In May, Apple apologised for its advert “Crush”, a supposed celebration of how much creativity could be packed into its thinnest iPad. The clip showed books, musical instruments, easels and many other items being destroyed by a huge hydraulic press. After it was widely derided as “tone-deaf”, Apple CEO Tim Cook said: “We missed the mark with this video, and we’re sorry.” Disney has similarly hit the headlines for its increasingly loud left-leaning agenda on and off screen in terms of diversity and inclusion. A prominent backer of trans rights, the entertainment conglomerate’s first non-binary character, Raine Whispers, was unveiled in 2023, a year after company heir Charlee Cora announced they were transgender. But the entertainment giant also became embroiled in a protracted row about the running of its Florida theme park, sparked by the protest of a state law prohibiting the teaching of sexuality orientation and gender identity in schools. Disney suffered four box office bombs last year, culminating in $628million of lost revenue. This followed prior losses of $300million in 2022 for two “woke” films – Strange World and the Toy Story spin-off Lightyear – both featuring prominent LGBTQ+ storylines and disadvantaged characters. The company subsequently admitted a growing “misalignment” between its content and “public and consumer tastes and preferences for entertainment”. And this seems to be the sticking point – brands which hijack socio-political causes and realign their values to appease younger, liberally minded audiences risk losing their core demographic. Gillette learned this to its detriment with a controversial advert in 2019 at the height of the #MeToo movement, calling out so-called instances of toxic masculinity in social situations.The company’s key slogan “The best a man can get” – about its razors – was repurposed into a question about male behaviour: “Is this the best a man can get?” Lifelong Gillette user Piers Morgan wrote on X: “This absurd virtue-signalling PC guff may drive me away to a company less eager to fuel the current pathetic global assault on masculinity. Let boys be damn boys. Let men be damn men.” But even this pales in comparison with Bud Light, which inspired the most famous brand boycott of recent years. It began last April after trans influencer Dylan Mulvaney promoted the American beer in an ad premiering during the annual Super Bowl. The voracious TikToker was seen frolicking in a bathtub, blowing bubbles and drinking a can of Bud Light. In a subsequent paid sponsorship post for Bud Light, Mulvaney dressed up as Holly Golightly from Breakfast at Tiffany’s to promote her “first year of womanhood”. Perhaps unsurprisingly, Bud Light’s core male, sports-loving demographic did not approve and retribution was swift. Singer Kid Rock and NFL player Trae Waynes were among the stars sharing videos of themselves shooting Bud Light cans. Within two weeks, Bud Light’s year-on-year sales had plummeted by 17%, falling by 27% by September. And as of this summer, Bud Light was no longer the US’s top-selling beer, having slumped to third place. However, not everyone is convinced that “Go Woke, Go Broke” is an own goal for sales. One recent study reported companies employing inclusive advertising enjoy an uplift in figures of 16% over the long term. It’s too early to know if Jaguar’s disastrous rebrand will impact sales of future Jags. Its new car will be released to the public early next month. Whether it makes Christmas wish lists is another matter. Veteran PR expert Mark Borkowski is one of those urging restraint. He tweeted: “There’s clearly a grand plan unfolding here. I’ll be watching from the sidelines. “It’ll either soar to the heavens –or someone will be handed a concertina for an eternal gig at the gates of hell.”