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Techmediabreaks Trump Media & Technology Group Corp.'S (NASDAQ: DJT) Stock Performance And Future ProspectsThe Mall at Greece Ridge, located near Rochester, closed early Thursday due to concerns about “large and disorderly groups of teens and young adults.” It was shut down shortly after 6 p.m. on the day after Christmas, also known as Boxing Day, by police and mall security. According to WHAM, the Greece Police Department said it was expecting a large influx of teens after seeing posts on social media. Greece Police said the mall was cleared without incident, but fights between several groups of teenagers broke out in the surrounding area outside the mall shortly afterwards. Two 16-year-old Rochester residents were arrested for disorderly conduct. No other crimes were reported, police said, and there was no damage to stores within the mall or surrounding businesses. WROC reports an area Chick-fil-A refused dine-in service, only offering drive-thru, and shoppers at a nearby Target said they were asked by police to leave. According to WHAM, a curfew was enforced at the mall last year after large fights occurred in 2023. Police developed a plan with mall security to quickly shut down the area to prevent future incidents. In a statement, The Mall at Greece Ridge said a large number of teens were running throughout the mall creating disruptions and refusing to leave. Similar disruptions were allegedly promoted on social media at a mall near Buffalo, officials said. WKBW reports Cheektowaga police swept the Walden Galleria around 7 p.m. Thursday as part of a “coordinated and planned effort to sweep the mall at closing time.” The preventative measure comes after the shopping center previously saw fights on the day after Christmas in 2018, 2021 and 2023. In a separate incident, a man was arrested on Monday for allegedly starting a fight at Crossgates Mall near Albany. WNYT reports a 27-year-old man was charged with disorderly conduct. Guilderland Police said he was intoxicated in the Dec. 23 incident; no one was seriously hurt and no weapons were involved.Letter to the Editor: What will Martin County do?
‘It’s horrible.’ Fresno’s record-breaking settlement highlights region’s larger drinking water problemWho Goes Around...
DETROIT (AP) — If Donald Trump makes good on his threat to slap 25% tariffs on everything imported from Mexico and Canada, the price increases that could follow will collide with his campaign promise to give American families a break from inflation. Economists say companies would have little choice but to pass along the added costs, dramatically raising prices for food, clothing, automobiles, booze and other goods. The president-elect floated the tariff idea, including additional 10% taxes on goods from China, as a way to force the countries to halt the flow of illegal immigrants and drugs into the U.S. But his posts Monday on Truth Social threatening the tariffs on his first day in office could just be a negotiating ploy to get the countries to change behavior. High food prices were a major issue in voters picking Trump over Vice President Kamala Harris, but tariffs almost certainly would push those costs up even further. For instance, the Produce Distributors Association, a Washington trade group, said Tuesday that tariffs will raise prices for fresh fruit and vegetables and hurt U.S. farmers when other countries retaliate. “Tariffs distort the marketplace and will raise prices along the supply chain, resulting in the consumer paying more at the checkout line,” said Alan Siger, association president. Mexico and Canada are two of the biggest exporters of fresh fruit and vegetables to the U.S. In 2022, Mexico supplied 51% of fresh fruit and 69% of fresh vegetables imported by value into the U.S., while Canada supplied 2% of fresh fruit and 20% of fresh vegetables. Before the election, about 7 in 10 voters said they were very concerned about the cost of food, according to AP VoteCast, a survey of more than 120,000 voters. “We’ll get them down,” Trump told shoppers during a September visit to a Pennsylvania grocery store. The U.S. is the largest importer of goods in the world, with Mexico, China and Canada its top three suppliers, according to the most recent U.S. Census data. People looking to buy a new vehicle likely would see big price increases as well, at a time when costs have gone up so much that they are out of reach for many. The average price of a new vehicle now runs around $48,000. About 15% of the 15.6 million new vehicles sold in the U.S. last year came from Mexico, while 8% crossed the border from Canada, according to Global Data. Much of the tariffs would get passed along to consumers, unless automakers can somehow quickly find productivity improvements to offset them, said C.J. Finn, U.S. automotive sector leader for PwC, a consulting firm. That means even more consumers “would potentially get priced out of the activity” of buying a new vehicle, Finn said. Hardest hit would be Volkswagen, Stellantis, General Motors and Ford, Bernstein analyst Daniel Roeska wrote Tuesday in a note to investors. Stellantis and VW import about 40% of the vehicles they sell from Canada and Mexico, while it's 30% for GM and 25% for Ford. GM and Stellantis import more than half of their high-profit pickup trucks from the two countries, according to Bernstein. If Trump does impose the tariffs in January, the auto industry would have little time to adjust, putting operating profits at risk for the automakers, Roeska said in an email. “A 25% tariff on Mexico and Canada would severely cripple the U.S. auto industry,” he said. The tariffs would hurt U.S. industrial production so much that “we expect this is unlikely to happen in practice,” Roeska said. The tariff threat hit the stocks of some companies that could be particularly hurt, such as auto manufacturers and Constellation Brands, which sells Modelo and other Mexican beer brands in the United States. But the overall market held relatively steady near records as investors saw Trump’s proposal as more of an opening position for negotiations rather than as a definitive policy. It's not clear how long the tariffs would last if they are implemented, but they could force auto executives to move production to the U.S., which could create more jobs in the long run. But Morningstar analyst David Whiston said in the short term automakers probably won't make any moves because they can't quickly change where they build vehicles. To move to the U.S., they would have to buy equipment and revamp their parts supply chain, which can take years. “I think everyone is going to be in a wait-and-see mode,” Whiston said. Millions of dollars worth of auto parts flow across the borders with Mexico and Canada, and that could raise prices for already costly automobile repairs, Finn said. The Distilled Spirits Council of the U.S. said tariffs on tequila or Canadian whisky won’t boost American jobs because they are distinctive products that can only be made in their country of origin. In 2023, the U.S. imported $4.6 billion worth of tequila and $108 million worth of mezcal from Mexico and $537 million worth of spirits from Canada, the council said. “At the end of the day, tariffs on spirits products from our neighbors to the north and south are going to hurt U.S. consumers and lead to job losses across the U.S. hospitality industry just as these businesses continue their long recovery from the pandemic,” the council said in a statement. Electronics retailer Best Buy said on its third-quarter earnings conference call that it runs on thin profit margins, so while vendors and the company will shoulder some increases, Best Buy will have to pass tariffs on to customers. “These are goods that people need, and higher prices are not helpful,” CEO Corie Barry said. Walmart also warned this week that tariffs could force it to raise prices, as did Footwear Distributors and Retailers of America. Canadian Prime Minister Justin Trudeau, who talked with Trump after his call for tariffs, said they had a good conversation about how the countries can work together on the challenges they face. "This is something that we can do, laying out the facts and moving forward in constructive ways. This is a relationship that we know takes a certain amount of working on and that’s what we’ll do,” Trudeau said. Trump's transition team wouldn't comment on the call. Also Monday, Trump turned his ire to China, saying he has “had many talks with China about the massive amounts of drugs, in particular Fentanyl, being sent into the United States – But to no avail.” The Chinese Embassy in Washington cautioned on Monday that there will be losers on all sides if there is a trade war. Trump's threats come as arrests for illegally crossing the border from Mexico have been falling . The most recent U.S. numbers for October show arrests remain near four-year lows. But arrests for illegally crossing the border from Canada have been rising over the past two years. Much of America’s fentanyl is smuggled from Mexico. Border seizures of the drug rose sharply under President Joe Biden. The tariffs would also throw into doubt the reliability of the 2020 trade deal brokered in large part by Trump with Canada and Mexico, the USMCA, which replaced NAFTA and is up for review in 2026. Trump transition team officials did not immediately respond to questions about what authority he would use, what he would need to see to prevent the tariffs from being implemented and how they would impact prices in the U.S. Mexico’s Foreign Relations Department and Economy Department also had no immediate reaction to Trump’s statements. ___ Rugaber reported from Washington. AP reporters Dee-Ann Durbin in Detroit, Stan Choe and Anne D'Innocenzio in New York, and Rob Gillies in Toronto contributed to this report.
By MATTHEW BROWN and JACK DURA BISMARCK, N.D. (AP) — Donald Trump assigned Doug Burgum a singular mission in nominating the governor of oil-rich North Dakota to lead an agency that oversees a half-billion acres of federal land and vast areas offshore: “Drill baby drill.” That dictate from the president-elect’s announcement of Burgum for Secretary of Interior sets the stage for a reignition of the court battles over public lands and waters that helped define Trump’s first term, with environmentalists worried about climate change already pledging their opposition. Burgum is an ultra-wealthy software industry entrepreneur who grew up on his family’s farm. He represents a tame choice compared to other Trump Cabinet picks. Public lands experts said his experience as a popular two-term governor who aligns himself with conservationist Teddy Roosevelt suggests a willingness to collaborate, as opposed to dismantling from within the agency he is tasked with leading. That could help smooth his confirmation and clear the way for the incoming administration to move quickly to open more public lands to development and commercial use. “Burgum strikes me as a credible nominee who could do a credible job as Interior secretary,” said John Leshy, who served as Interior’s solicitor under former President Bill Clinton. “He’s not a right-wing radical on public lands,” added Leshy, professor emeritus at the University of California College of the Law, San Francisco. The Interior Department manages about one-fifth of the country’s land with a mandate that spans from wildlife conservation and recreation to natural resource extraction and fulfilling treaty obligations with Native American tribes. Most of those lands are in the West, where frictions with private landowners and state officials are commonplace and have sometimes mushroomed into violent confrontations with right-wing groups that reject federal jurisdiction. Burgum if confirmed would be faced with a pending U.S. Supreme Court action from Utah that seeks to assert state power over Interior Department lands. North Dakota’s attorney general has supported the lawsuit, but Burgum’s office declined to say if he backs Utah’s claims. U.S. Justice Department attorneys on Thursday asked the Supreme Court to reject Utah’s lawsuit. They said Utah in 1894 agreed to give up its right to the lands at issue when it became a state. Trump’s narrow focus on fossil fuels is a replay from his 2016 campaign — although minus coal mining, a collapsing industry that he failed to revive in his first term. Trump repeatedly hailed oil as “liquid gold” on the campaign trail this year and largely omitted any mention of coal. About 26% of U.S. oil comes from federal lands and offshore waters overseen by Interior. Production continues to hit record levels under President Joe Biden despite claims by Trump that the Democrat hindered drilling. But industry representatives and their Republican allies say volumes could be further boosted. They want Burgum and the Interior Department to ramp up oil and gas sales from federal lands, in the Gulf of Mexico and offshore Alaska. The oil industry also hopes Trump’s government efficiency initiative led by billionaire Elon Musk can dramatically reduce environmental reviews. Biden’s administration reduced the frequency and size of lease sales, and it restored environmental rules that were weakened under Trump . The Democrat as a candidate in 2020 promised further restrictions on drilling to help combat global warming, but he struck a deal for the 2022 climate bill that requires offshore oil and gas sales to be held before renewable energy leases can be sold. “Oil and gas brings billions of dollars of revenue in, but you don’t get that if you don’t have leasing,” said Erik Milito with the National Ocean Industries Association, which represents offshore industries including oil and wind. Trump has vowed to kill offshore wind energy projects. But Milito said he was hopeful that with Burgum in place it would be “green lights ahead for everything, not just oil and gas.” It is unclear if Burgum would revive some of the most controversial steps taken at the agency during Trump’s first term, including relocating senior officials out of Washington, D.C., dismantling parts of the Endangered Species Act and shrinking the size of two national monuments in Utah designated by former President Barack Obama. Officials under Biden spent much of the past four years reversing Trump’s moves. They restored the Utah monuments and rescinded numerous Trump regulations. Onshore oil and gas lease sales plummeted — from more than a million acres sold annually under Trump and other previous administrations, to just 91,712 acres (37,115 hectares) sold last year — while many wind and solar projects advanced. Developing energy leases takes years, and oil companies control millions of acres that remain untapped. Biden’s administration also elevated the importance of conservation in public lands decisions, adopting a rule putting it more on par with oil and gas development. They proposed withdrawing parcels of land in six states from potential future mining to protect a struggling bird species, the greater sage grouse. North Dakota is among Republican states that challenged the Biden administration’s public lands rule. The states said in a June lawsuit that officials acting to prevent climate change have turned laws meant to facilitate development into policies that obstruct drilling, livestock grazing and other uses. Oil production boomed over the past two decades in North Dakota thanks in large part to better drilling techniques. Burgum has been an industry champion and last year signed a repeal of the state’s oil tax trigger — a price-based tax hike industry leaders supported removing. Burgum’s office declined an interview request. In a statement after his nomination, Burgum echoed Trump’s call for U.S. “energy dominance” in the global market. The 68-year-old governor also said the Interior post offered an opportunity to improve government relations with developers, tribes, landowners and outdoor enthusiasts “with a focus on maximizing the responsible use of our natural resources with environmental stewardship for the benefit of the American people.” Related Articles National Politics | Republicans scramble to fill JD Vance’s Ohio Senate seat National Politics | Gaetz’s withdrawal highlights how incoming presidents often lose Cabinet nominees National Politics | What to know about Pam Bondi, Trump’s new pick for attorney general National Politics | Democrats strike deal to get more Biden judges confirmed before Congress adjourns National Politics | Bob Casey concedes Pa. Senate race, congratulates Dave McCormick on win Under current Interior Secretary Deb Haaland, the agency put greater emphasis on working collaboratively with tribes, including their own energy projects . Haaland, a member of the Pueblo of Laguna tribe in New Mexico, also advanced an initiative to solve criminal cases involving missing and murdered Indigenous peoples and helped lead a nationwide reckoning over abuses at federal Indian boarding schools that culminated in a formal public apology from Biden. Burgum has worked with tribes in his state, including on oil development. Badlands Conservation Alliance director Shannon Straight in Bismarck, North Dakota, said Burgum has also been a big supporter of tourism in North Dakota and outdoor activities such as hunting and fishing. Yet Straight said that hasn’t translated into additional protections for land in the state. “Theodore Roosevelt had a conservation ethic, and we talk and hold that up as a beautiful standard to live by,” he said. “We haven’t seen it as much on the ground. ... We need to recognize the landscape is only going to be as good as some additional protections.” Burgum has been a cheerleader of the planned Theodore Roosevelt Presidential Library in Medora, North Dakota. Brown reported from Billings, Montana.Today's fortune: Dec. 28, 2024Perhaps the only thing longer than a Christmas wishlist are NFL injury reports, especially this late in the season. Every team is dealing with some sort of injury issue with the regular season nearing a close. The Eagles will be without Jalen Hurts for Saturday's game against the Cowboys . Hurts, who is still in the concussion protocol, will watch as backup quarterback Kenny Pickett will try to help Philadelphia clinch a spot in the NFC playoffs. Their opponent will be without wideout CeeDee Lamb , who was shut down for the year earlier this week. In Cincinnati, the Bengals are hoping to have wideout Tee Higgins for Saturday's must win game against the Broncos , who can end their 10-year playoff drought with a win. Higgins has been labeled as questionable to play with ankle and knee injuries. Higgins did reportedly show progress regarding his injuries throughout the week. Below is a full rundown of each team's final Week 17 injury report. We'll be updating this throughout the evening as more injury reports come in. Chargers at Patriots Chargers : TE Will Dissly (shoulder), RB J.K. Dobbins (knee), TE Hayden Hurst (illness), CB Elijah Molden (knee) QUESTIONABLE; RB Gus Edwards (ankle), LB Denzel Perryman (groin), T Trey Pipkins (hip) OUT Patriots : S Kyle Dugger (ankle/quad), LB Curtis Jacobs (concussion), FS Jabrill Peppers (hamstring), G Cole Strange (knee), OLB Jahlani Tavai (groin), OT Caedan Wallace (ankle), DE Titus Leo (ankle), OLB Anfernee Jennings (knee), LB Sione Takitaki (knee) QUESTIONABLE; C Ben Brown (concussion), CB Marcus Jones (hip) OUT Broncos at Bengals Broncos: RB Tyler Badie (back) QUESTIONABLE Bengals: WR Tee Higgins (ankle/knee), WR Charlie Jones (groin), OT Amarius Mims (ankle/hand), DE Joseph Ossai (illness), S Geno Stone (illness) QUESTIONABLE; TE Tanner Hudson (knee) DOUBTFUL; DE Sam Hubbard (knee), DT Sheldon Rankins (illness) OUT Cardinals at Rams Cardinals : RB Trey Benson (ankle), OL Evan Brown (neck), OLB Baron Browning (neck), RB James Conner (knee) QUESTIONABLE; S Joey Blount (ribs), K Matt Prater (left knee) OUT Rams : OT Rob Havenstein (shoulder) QUESTIONABLE Cowboys at Eagles Cowboys: LB Eric Kendricks (calf), ILB Nick Vigil (foot), WR Jalen Tolbert (finger), OL Asim Richards (ankle), G Chuma Edoga (toe), S Donovan Wilson (knee), WR Jalen Brooks (knee) QUESTIONABLE; G TJ Bass (thigh) DOUBTFUL; DB Kemon Hall (hamstring), WR CeeDee Lamb (shoulder), CB Amani Oruwariye (foot) OUT Eagles: DE Bryce Huff (wrist) QUESTIONABLE; LB Nakobe Dean (abdomen) DOUBTFUL; WR Britain Covey (neck), QB Jalen Hurts (concussion/left finger), RB Will Shipley (concussion) OUT The biggest news out of Philadelphia is that Hurts will be sidelined, leaving Kenny Pickett to lead the offense. Panthers at Buccaneers Panthers : RB Chuba Hubbard (knee), OLB Jadeveon Clowney (knee/elbow), WR Xavier Legette (hip/wrist), DE A'Shawn Robinson (knee/illness), OLB D.J. Wonnum , G Damien Lewis (illness/ankle), OLB Cam Gill (illness) QUESTIONABLE; T Taylor Moton (knee), CB Jaycee Horn (hip) DOUBTFUL; CB Chau Smith-Wade (illness/chest), LB Josey Jewell (concussion/quadriceps) OUT Buccaneers : LB K.J. Britt (ankle), WR Kameron Johnson (ankle), FS Jordan Whitehead (pectoral) QUESTIONABLE; TE Cade Otton (knee), WR Sterling Shepard (hamstring/foot), S Antoine Winfield Jr . OUT Jets at Bills Jets : WR Davante Adams (hip), CB Michael Carter II (back), CB Sauce Gardner (hamstring), EDGE Braiden McGregor (ankle), OL Morgan Moses (knee), S Tony Adams (ankle), LB Haason Reddick (neck), DL Quinnen Williams (hamstring), K Greg Zuerlein (left knee) QUESTIONABLE; DL Leki Fotu (knee) OUT Bills : S Damar Hamlin (rib), CB Cam Lewis (shoulder), FS Taylor Rapp (neck), WR Curtis Samuel (rib) QUESTIONABLE Colts at Giants Colts : TE Mo Alie-Cox (knee), CB Julius Brents (knee), LB Jaylon Carlies (shoulder), G Quenton Nelson (ankle), QB Anthony Richardson (back/foot), LB E.J. Speed (knee) QUESTIONABLE Giants : WR Malik Nabers (toe), DT Armon Watts (shoulder), G Austin Schlottmann (fibula), CB Dee Williams (toe) QUESTIONABLE; S Raheem Layne (knee), LB Micah McFadden (neck), C John Michael Schmitz (ankle), CB Greg Stroman OUT Raiders at Saints Raiders : G Jordan Meredith (ankle) OUT Saints : The Raiders had a short injury report this week, with just Meredith given a game designation. Titans at Jaguars Titans : WR Tyler Boyd (foot), S Amani Hooker (shoulder), RB Tony Pollard (ankle), WR Bryce Oliver (knee) QUESTIONABLE; K Nick Folk (abdomen), OL Dillon Radunz (shoulder), LB Otis Reese (ankle), WR Colton Dowell (knee) OUT Jaguars : LB Yasir Abdullah (illness) QUESTIONABLE; OT Walker Little (ankle), LB Ventrell Miller (ankle), S Darnell Savage (concussion) OUT Dolphins at Browns Dolphins : T Terron Armstead (knee), S Jordan Poyer (knee/finger), WR Jaylen Waddle (knee), WR Dee Eskridge (knee), WR Tyreek Hill (wrist/rest), QB Tua Tagovailoa (hip) QUESTIONABLE; CB Kendall Fuller (knee), LB Anthony Walker (knee) OUT Browns : QB Jameis Winston (right shoulder) QUESTIONABLE; TE David Njoku (knee), DE Ogbo Okoronkwo (knee), WR Cedric Tillman (concussion) OUT Packers at Vikings Packers : S Javon Bullard (ankle), LB Ty'Ron Hopper (ankle), WR Christian Watson (knee) QUESTIONABLE; CB Jaire Alexander (knee), T Andre Dillard (concussion evaluation), LB Quay Walker (ankle), S Evan Williams (quadricep) OUT Vikings : LB Ivan Pace Jr . (hamstring) QUESTIONABLE; CB Fabian Moreau (hip) OUT Falcons at Commanders Falcons : CB Kevin King (concussion), CB Antonio Hamilton (quad) OUT Commanders : Lions at 49ers Lions : TBA 49ers : TBAKohl's ( KSS -16.03% ) Q3 2024 Earnings Call Nov 26, 2024 , 9:00 a.m. ET Contents: Prepared Remarks Questions and Answers Call Participants Prepared Remarks: Operator Thank you for standing by. My name is Brianna, and I will be your conference operator today. At this time, I'd like to welcome everyone to the Kohl's Corporation third quarter 2024 earnings conference call. Please note that this call is being recorded. At this time, all participants are in a listen-only mode. After the speakers' remarks, there will be a question-and-answer session. [Operator instructions] I will now turn the conference over to Mark Rupe. Please go ahead, sir. Mark Rupe -- Senior Vice President, Investor Relations and Treasurer Thank you. Certain statements made on this call, including projected financial results and the company's future initiatives, are forward-looking statements. Such statements are subject to certain risks and uncertainties which could cause Kohl's actual results to differ materially from those projected in such forward-looking statements. Such risks and uncertainties include, but are not limited to, those that are described in Item 1A in Kohl's most recent annual report on Form 10-K and as may be supplemented from time to time in Kohl's other filings with the SEC, all of which are expressly incorporated herein by reference. Forward-looking statements relate to the date initially made, and Kohl's undertakes no obligation to update them. In addition, during this call, we may make reference to non-GAAP financial measures. Reconciliation of non-GAAP financial measures can be found in the investor presentation filed as an exhibit to our Form 8-K filed with the SEC and is available on the company's investor relations website. Please note that this call will be recorded. However, replays of this call will not be updated. So, if you're listening to a replay of this call, it is possible that the information discussed is no longer current, and Kohl's undertakes no obligation to update such information. With me this morning are Michael Bender, our independent chair of the board; Tom Kingsbury, our CEO; and Jill Timm, our chief financial officer. I will now turn the call over to Michael. Michael Bender -- Independent Chair of the Board Thank you, Mark, and thank you for joining us this morning. I'm going to provide some brief introductory remarks, and then I'll turn it over to Tom and Jill to review our third quarter results. We will then take some Q&A. As we shared last night, Tom Kingsbury will step down as CEO effective January 15, 2025 and will stay on in an advisory role to the new CEO and retain his position on the board through his retirement in May of 2025. On behalf of the board, management, and all our associates, I want to thank Tom for his leadership and ongoing service to Kohl's. Tom has a lot of history with Kohl's, as many of you know, and we are grateful for him stepping in to lead us through our transformation over the past couple of years. I'm excited to share that the board has appointed retail veteran Ashley Buchanan as CEO effective January 15th. Ashley has been CEO of Michaels Companies since 2020 and, prior to that, held a variety of senior executive roles at Walmart and Sam's Club during his 13 years at the company. His vast retail experience leading operations, merchandising, and e-commerce will bring a steady proven leader to Kohl's as we continue to transform the business and drive future growth. Ashley has driven change by setting a clear vision, empowering teams, and practicing organizational accountability for results. We know he will be a great leader and bring a new perspective in our next chapter. I'll now turn over the call to Tom to discuss our third quarter results. Tom Kingsbury -- Chief Executive Officer Thank you, Michael, and good morning, everyone. I would first like to thank Michael, the broader board and management team, and our associates for the opportunity to lead this great company during the past couple of years. Kohl's long-term opportunity is significant, and I look forward to supporting Ashley through the transition. Turning to our third quarter results. They did not meet our expectations and were frankly disappointing. Sales have been a challenge for us throughout 2024 and weakened further in Q3. Over the last several quarters, we have implemented a significant amount of change across our assortment, value strategies, and in-store experience. We believe these actions will make us more competitive over the long term. However, we undervalued the short-term impact this change could have on our sales performance. Comparable sales in the third quarter declined 9% as sales remained soft in our apparel and footwear businesses. Although we had a strong collective performance across our key growth areas, including Sephora, home decor, gifting, and impulse, and also benefited from the opening of Babies "R" Us shops in 200 of our stores, these were unable to offset the declines in our core business. We are not satisfied with our performance and are taking aggressive action to reverse the sales declines. We must execute at a higher level and ensure we are putting the customer first in everything we do. As Jill will discuss later in the call, our updated fiscal year 2024 guidance reflects the continuation of the sales pressure we have seen this year and our expectation for a highly competitive holiday season. My main focus today will be discussing the key drivers of our sales weakness and the actions we are taking to stabilize the sales trend now and going forward. In assessing our business during the third quarter, we identified three areas that led to our underperformance. They include a decline in traffic, especially early in the quarter, during the back-to-school season; a reduction in receipts in our private apparel brands, which impacted our ability to drive sales in our key value items; and categories where we have lost traction that represented opportunities for us going forward such as fine jewelry, petites and intimate apparel, and legacy home products. Let's start with the first area, which is the decline in traffic. In Q3, transactions declined approximately 3% after increasing approximately 2% in Q2. This change represented the entire deceleration in comparable sales in Q3 versus Q2. Softness in transactions was most notable early in the quarter during the back-to-school season, with August being the weakest month. Our children's business was especially challenged in apparel during this time, though improved late in the quarter. We are highly focused on driving traffic. In response to the softer trends experienced in Q3, we are increasing our touchpoints with our most engaged customers through more targeted offers and direct mail as they have shown a greater responsiveness to this form of marketing. In addition, given that our customer continues to be pressured, we are showcasing the great value we are offering this holiday across our merchandise assortment in our marketing message. We will also lean into social and digital marketing to continue to drive new customer acquisition and see a significant opportunity to capitalize on the nearly 4 million new Kohl's Rewards members added in 2024 with targeted Rewards-only events during the holiday season. The second area is a reduction in receipts in our private apparel brands, which impacted our ability to drive sales in our key value items. Over the past 18 months, we have managed inventory very tightly, largely driven by new processes, implemented by operating with more open-to-buy liquidity and clearing goods on a more regular basis. At the same time, we increased our inventory investments in our key growth categories such as Sephora, home decor, gifting, and impulse. And we have also brought in a significant number of new market brands to capitalize on trend-right merchandise. Together, these investments led to meaningfully lower receipt levels in the private apparel brands, which our customers rely on. In Q3, private brand inventory decreased more than 20% as compared to the prior year. And for several of our key brands, it decreased even more. Given the importance of opening price points in the current environment, not having the appropriate level of private brands hurt our ability to serve our customers. This had an outsized impact in our women's business, where we have the highest private brand penetration. It was also evident in our men's and children's businesses. And although we are pleased with the positive sell-throughs we are seeing as newness in our private brands hits the selling floor, we simply did not have enough private brands inventory given our investments in market brands and our key growth categories. I want to be clear, though, we continue to believe our market brand strategy and investments into the key growth categories are the right long-term strategic moves. We simply must do a better job of balancing these initiatives while managing the core business. Let me now share the immediate actions we are taking to regain balance across our assortment. Number one, we have already begun to balance our buys in the near term to ensure we have the proper inventory support for our key private brands. This is evident in our in-transit inventory levels, which consist primarily of our private brands, increasing 40% when compared to the prior year. These goods are now hitting the selling floor in time for the holiday. Additionally, we are ensuring that we are leveraging market brands opportunistically through a chase approach as we build our presence rather than a replacement for our private brands, which have been taking place. While it will take some time to reposition our inventory, we do expect our actions to deliver improved relative trends in Q4, with greater benefit in early 2025. And the third area is categories where we have lost traction that represent opportunities for us going forward. The most notable example of this was our exit from the fine jewelry business, a category that had been highly valued by our customers. As we introduced Sephora shops into our stores, the fine jewelry business was largely displaced, which resulted in a persistent headwind to our sales performance for many periods. On a positive note, we are excited to reintroduce fine jewelry to our customers this holiday season in 200 of our stores. We will also have an expanded in-aisle placement of bridge jewelry in all stores, which will build off the positive sales growth we saw in Q3 for fashion and bridge jewelry. Overall, we expect much stronger performance in the jewelry category in Q4 based on our initiatives. In addition to jewelry, we also see opportunities in petites, intimates, and our legacy home business, entities we meaningfully reduced our presence in 2022, a move that, at the time, was in conjunction with actions to reduce inventory. This was a short-sighted decision that we are committed to resolving. In 2024, we increased our petites offering and expanded the assortments to all stores this quarter. Based on this, we expect our petites business to build in Q4 and into 2025, continuing the initial momentum we began to see in Q3. In intimates, we continue to see sales pressure in Q3. As I touched on last quarter, we have struggled with some of the key brands in our assortments due, in part, to lack of inventory depth, which is important in this highly size-intensive category. During Q3, we accelerated newness and enhanced depth across all brands, which led to better results as we moved through the quarter, including a 500-basis-point trend improvement in October. We expect trends to further build in Q4, driven by better inventory support and incremental newness supported in key marketing events. And in our legacy home business, sales within kitchen electrics, floor care, and bedding remain challenging. However, we are optimistic that our efforts will gain traction this holiday season, driven by increased innovation, new brand introductions, and a stronger value messaging. Our efforts include launching Hotelier, our new private bedding and bath brand, in all stores; new assortments in floor care; and compelling promotions targeted at kitchen electrics, which is a highly price-sensitive category. So, to summarize, we have identified the key areas of our business that have pressured our performance, and we are taking aggressive action to reverse these sales declines. We expect that fixing these areas while continuing to benefit from our key growth initiatives will improve the overall sales trend starting in Q4, with full benefit accruing in 2025. Now, let me provide an update on the progress we have made in our key growth categories that are going to drive the business in Q4 and serve as a foundation for growth going forward. Starting first with Sephora, which continued to deliver strong growth in Q3 with total beauty sales increasing 15%. Comparable beauty sales increased 9%, which was an acceleration on a two-year basis as compared to the second quarter. Fragrance, bath and body, and skin care were especially strong in the quarter, and brands, including YSL, Laneige, and Sephora Collection, drove solid growth. Looking ahead, we are confident in our ability to continue driving strong Sephora growth. For the holiday, we have significantly expanded our gifting assortment, building off of last year's success, and we see cross-shopping as a key opportunity to capitalize on. And Sephora will be in more than 1,050 of our stores this holiday, 15% more than last year. Now, let me provide an update on our progress in building our business in the under-penetrated categories of home decor, gifting, impulse, and baby gear. In Q3, sales from these categories continued to build. Let me highlight a few of the key takeaways. In our home business, sales of seasonal and everyday decor increased more than 50% year over year, and we also experienced solid growth across many other areas such as storage, wall art, glassware, and pet. In impulse, we drove sales growth of more than 40% as we expanded queue lines to 200 more stores in the third quarter. We expect strong growth to continue as we enter the holiday season, with queue lines in 435 of our stores. And I'm happy to share that we successfully launched Babies "R" Us shops in 200 of our stores and online during Q3. We are broadening our reach with young families, acquiring new younger customers to Kohl's that are shopping multiple categories, including children's, accessories, and women's. We also introduced a Babies "R" Us registry in early October and are already seeing thousands of expectant mothers register. We expect our baby gear business to continue to grow as awareness builds as we recognize the benefits from registry signups as we open more shops in the coming years. Collectively, we continue to see these under-penetrated categories representing a significant opportunity in the coming years. Together with Sephora, the key growth categories represent high teens percent of our business today, and they are growing rapidly and are expected to have a long runway of growth. Now, I'd like to share how we are approaching the holiday season. Kohl's is known for providing great holiday value, and this year will be no different. We will continue to establish ourselves as a key gifting destination with an expanded selection of products across apparel such as sweaters, fleece and holiday outfitting, stocking stuffers and toys at compelling price points, Sephora gift sets, box jewelry, and cold weather bedding from brands like Cuddl Duds. Importantly, our key growth categories, as well as seasonally relevant businesses like toys, jewelry, and home, increased by approximately 1,000 basis points in penetration and will benefit our results in Q4 as compared to Q3. From a marketing perspective, we will amplify Kohl's Cash and Rewards, deliver targeted offers to drive engagement, and leverage influencers and social media engagement. We expect this holiday will be highly competitive given the late Thanksgiving. Our focus will be on maximizing the big shopping days. As it relates to our more recent performance, November sales are off to a marked improvement relative to Q3 comps. We have seen solid fall seasonal demand, as well as the initial benefit from the investments we have made in our private brand inventory. In addition, we have seen heightened customer engagement during the start to the holiday. That said, there still remains a lot of holiday shopping in front of us, and we are focused on executing a great customer experience. Before turning it over to Jill, I also want to highlight that we remain highly focused on expense management. In Q3, we managed expenses down 5% compared to last year, and it will remain a priority of ours as we work to stabilize our sales performance. In addition, our balance sheet remains in a solid position, and we expect to drive significant cash flow generation in Q4, which will reduce our revolver balance meaningfully by year-end. Jill will share more on this in a moment. To summarize my comments today, I want to leave you with three things. First, we continue to have strong conviction in our ability to reposition Kohl's for future growth. Though we recognize that we moved too quickly in some areas, we are focused on improving sales through driving traffic, increasing receipts in our private apparel brands, and regaining momentum in categories where we lost traction. Second, our investments in key growth areas continue to deliver solid results. Sephora at Kohl's continues to drive strong sales growth and bring in new customers, and we continue to build our business in home decor, impulse, gifting, and baby gear, all of which are positioned to deliver incrementally this holiday season as they grow in penetration. And third, the holidays have always been an important time for Kohl's; and this year, we will deliver even more value through our expanded gifting assortment. While we expect the holiday to be highly competitive, we are well-positioned from a product and marketing perspective to improve our sales trend. I want to thank all of our Kohl's associates across the organization for their efforts to position us for a successful holiday season. I hope those listening today will get a chance to visit our stores over the coming weeks. Jill. Jill Timm -- Chief Financial Officer Thank you, Tom, and good morning, everyone. For today's call, I will provide additional details on our third quarter results, as well as an update on our fiscal year 2024 guidance. Net sales decreased 8.8% in Q3 and are down 6.1% year to date. Comparable sales declined 9.3% in Q3 and declined 6.4% year to date. In Q3, transactions were down while conversion improved and our average basket sizes remained lower as compared to last year. Digital sales outperformed store sales in the quarter, though both were down to last year. Other revenue, which is primarily our credit business, decreased 3.6% in the quarter, which was slightly better than our expectations. Year to date, other revenue declined 4.6%. Moving down the P&L. Third quarter gross margin was 39.1%, up 20 basis points versus last year. The increase was driven by inventory management and lower freight expense, partially offset by higher digital penetration and increased promotional activity. Year to date, gross margin was 39.4%, an increase of 42 basis points. SG&A expenses declined 5.1% to $1.3 billion in Q3, benefiting from tightly managed expenses across the organization given the sales decline, especially in corporate and store-related expenses. Year to date, SG&A expenses have decreased 3.4% compared to last year. Depreciation expense in the quarter was $184 million, down $4 million from last year. On a year-to-date basis, depreciation was $560 million, down $2 million to the prior year. Interest expense was $76 million in the quarter, down $13 million from last year. The decline is primarily related to lower long-term debt outstanding. Year to date, interest expense decreased $17 million to $245 million. Net income for the quarter was $22 million, and earnings per diluted share was $0.20. Year to date, net income was $61 million and earnings per diluted share was $0.55. Moving on to the balance sheet and cash flow. We ended Q3 with $174 million of cash and cash equivalents. Inventory at quarter-end was down 3% compared to last year, with on-hand inventory down 7% at the end of the quarter. As Tom indicated, we are focused on better balancing our inventory levels with a renewed emphasis in our private brands, which is reflected in the 40% increase in in-transit inventory at quarter-end. We remain highly focused on managing inventory efficiently, with the goal of increasing turn. Year to date, operating cash flow is $52 million, while year-to-date adjusted free cash flow was a use of $376 million. Now, let me touch on a couple of our capital allocation priorities. Capital expenditures year to date were $367 million, significantly less than the $495 million last year, driven by fewer Sephora openings. We are still planning 2024 capex of approximately $500 million, consisting of investment in 350 impulse queuing lines, 140 Sephora small shop openings, the launch of 200 Babies "R" Us shops, and six new store openings, including one relocation. After investing in the business, strengthening the balance sheet and returning capital to shareholders also remain top priorities. We ended Q3 with $749 million on our revolver. This was higher than last year's revolver balance of $625 million, with the increase largely attributable to the retirement of the May 2025 bonds earlier this year. We remain focused on paying down the revolver balance and rebuilding our cash position and expect significant cash flow generation in Q4 to further our efforts on this front. Looking ahead, we will continue to monitor our options with respect to the July 2025 notes and will likely address them closer to maturity given the favorable coupon rate. As for shareholder returns, we continue to prioritize the payment of our dividend at current levels. In Q3, we distributed $55 million in dividends to our shareholders. And as previously disclosed, the board on November 13th declared a quarterly cash dividend of $0.50 per share payable to shareholders on December 24th. Now, let me share some detail on our updated outlook for 2024. As you've heard this morning, we are taking aggressive actions to stabilize our sales trend as we reposition Kohl's for future growth. As a result, we are approaching our financial outlook for the year prudently, taking into account our year-to-date performance, and it will take time for our actions to deliver the intended outcome. For the full year, we currently expect net sales to be in the range of a 7% decrease to an 8% decrease versus 2023, as compared to our previous guidance range of a decrease of 4% to 6%. Comparable sales to be in the range of a 6% decrease to a 7% decrease. Our previous full year comparable sales guidance range was a 3% decrease to a 5% decrease. For the fourth quarter, our guidance implies comparable sales in the range of a 5% decrease to an 8% decrease. Other revenue is expected to be down mid-single digits for the full year. We expect gross margin to be at the high end of our previous guidance of 40 basis points to 50 basis points expansion as compared to last year. And for SG&A, we now expect SG&A dollars to be down 3.2% to 3.5% for the year, as compared to our previous guidance of a 2% to 3% decline for the year. We expect operating margin to be in the range of 3% to 3.2%, as compared to our prior guidance range of 3.4% to 3.8%; and EPS to be in the range of $1.20 to $1.50. This compares to our prior guidance of $1.75 to $2.25. With that, Tom and I are happy to take your questions at this time. Questions & Answers: Operator Thank you. [Operator instructions] Our first question comes from the line of Bob Drbul with Guggenheim. Please go ahead. Robert Drbul -- Analyst Hi. Good morning. Thanks for taking the question. Tom Kingsbury -- Chief Executive Officer Good morning, Bob. Jill Timm -- Chief Financial Officer Good morning, Bob. Robert Drbul -- Analyst Good morning, Tom. And, Tom, you know, best of luck on your retirement, and thanks for all the help over the last few years and actually many years we go back. Tom Kingsbury -- Chief Executive Officer Thanks, Bob. Robert Drbul -- Analyst Two questions for you. The first one, just when you look at the traffic trends, you know, I think the aggressive actions that you lay out, which ones do you think, you know, will be the biggest impact to your traffic, I guess, in Q4, but also into '25? And then the second question is, Jill, on the credit card, can you just give us an update just in terms of the trends, in terms of some of the conversions, and if it's actually playing to the way that you thought it would, you know, this fall and heading into holiday? Thanks. Tom Kingsbury -- Chief Executive Officer Well, first of all, I think the key for driving increased traffic, and we're seeing that already in November, is really showcasing the great values that we have on the selling floor. Today, you know, the merchants really went out there and bought some really, really great product at great values. So, really, showcasing that. We do that every year, but we really have a heightened approach this year. Based on what happened in the third quarter, we've gone over it multiple times. Also really targeting our most engaged customers. So, I think that's really important. We probably didn't do enough of that in the third quarter. So, we distorted it in our efforts in the fourth quarter through more targeted offers and more direct mail. So, I really think that's going to be important. We're really leaning into social and digital marketing to drive new customer acquisition, as well as trying to leverage the 4 million new Rewards members that we have. So, really think that those three things have and will drive increased traffic in the fourth quarter. Jill. Jill Timm -- Chief Financial Officer Yeah. And, Bob, in terms of credit, I think overall credit is kind of performing where we expected, obviously weighed down by the softer sales that we saw for the quarter. We are seeing, you know, payment rates are starting to drop. But all of which we anticipated, which I think you saw our other revenue line come in a little bit better than how we set expectations. As we go into the fourth quarter, we'll start benefiting a little bit from co-brands. We did launch our co-brand in mid-September. So, those cards were just getting in mailboxes as we were kind of looking in October. So, by the time they spend and you see that revolving, interest coming into the portfolio, it's really going to be a Q4, but much more predominantly a 2025 benefit for us. As the customer continues to use it, we see those balances revolve, and we get the benefit of those interest income numbers. But I think, you know, we're expecting it to be in that mid-single-digit range as we close out the year. So, really performing the way we expected it to this year. Robert Drbul -- Analyst Thank you. Jill Timm -- Chief Financial Officer Thanks, Bob. Tom Kingsbury -- Chief Executive Officer Thanks, Bob. Operator Our next question comes from the line of Mark Altschwager with Baird. Please go ahead. Mark Altschwager -- Analyst Good morning. Thank you for taking my question. Tom Kingsbury -- Chief Executive Officer Hey, Mark. Mark Altschwager -- Analyst I guess, first, Tom, just why is now the right time to be passing the torch? Just a lot of balls in the air right now with some of the strategic changes you've been making. I guess what are the guardrails you have in place to limit disruption through the transition and is your successor aligned in terms of a lot of this -- the elements on the strategic agenda or should investors be bracing for some bigger changes in the periods ahead? Tom Kingsbury -- Chief Executive Officer Well, the answer to the last part first, Ashley is very much aligned with the strategy that we have in place right now. He's spent a lot of time with our board of directors, time with me. Obviously, there are -- you know, as always, there will be some changes and modifications, and, you know, he'll want to obviously put his fingerprints on the strategies and which would -- what you would expect. From my timing, I signed up for two years, and the two years would be up in May of 2025. You know, I came in to, you know, help out the company in the transition. And, you know, it -- it's not an exact science in terms of hiring somebody. We were fortunate to have Ashley come in and decide to join us. And this is the way the timing worked out overall. So, you know, the team is in a good place, and we have significant guardrails in terms of making sure that there isn't any big issues. But that's how the timing came about, and we just felt that, you know, it was best to do it now. I think, Michael, you want to weigh in on this? Michael Bender -- Independent Chair of the Board Yeah. Sure. Yeah. Mark, it's Michael Bender here and just to add on to Tom's comments, both about his tenure here. So, first of all, I want to reinforce the -- what we've said in all of our announcements about how grateful we are about what Tom has done over the past couple of years or so in his role. He's brought a number of really positive things to the business, inventory discipline, merchant discipline. He's brought new brands to the business. So, we're excited about the impact that Tom has had. As far as the transition goes, you know, we knew that we had, as Tom mentioned, a time-based agreement with him starting in May of 2023 that would expire next year. And so, as we talked about it with Tom and the board, we engaged in what we felt was a very robust succession planning process. And as you know, really strong CEOs are not hard -- or are hard to find. And so, when we were able to attract Ashley to the business and identified him as the ideal candidate with an availability date of mid-January, that made sense to us to continue to move that process. We're pleased that he can start in the January time frame that will allow, actually, for an orderly transition, with Tom staying on as an advisor, as we've said, and a board member until May. So, we're excited about that. Specifically around the question about the change in strategy, as Tom mentioned, you know, we feel like we've got a plan in place that we are executing against. What Ashley brings and what the board sees in him that we like and what brought him to close out the agreement to bring him on board, several things that I'll mention. He knows customers, he follows the data, and he follows what customers want and then brings solutions to them. He's -- there's evidence of that in both his experience running Michaels, as well as Walmart. Ashley is a merchant, so he knows product. He's got deep digital chops and has demonstrated expertise in how to integrate digital into physical settings, which is an important part of the Kohl's business. He's obsessed with the customer experience and understands how to drive that positively from an efficiency standpoint and making sure that customers have a great experience. He knows how to operate at scale. You know, Kohl's is a big business. It's over 1,000 stores. So, it's important for us to have someone sitting in the chair that understands how to operate at scale. And then lastly, I would say that from a character standpoint, Ashley is a principled and inspiring leader of people. In our culture here at Kohl's, it's really important for us to continue to maintain and grow and evolve. And Ashley, we feel, all of the board members, and the team have felt really comfortable with that. He's excited about getting started and already has a number of requests for information about the business, although he doesn't start until mid-January. He's been in a number of our stores, and he's been developing a point of view on our digital business by ordering items online and checking that out. So, we have someone who's excited about stepping into the role. And with Tom's support in the transition, we feel good about the progress that we'll be able to continue to make, while we focus on making sure that these next six to eight weeks as we move through the balance of holiday period will be strong. Mark Altschwager -- Analyst Thank you for all of that detail. Jill, if I could follow up on credit? You spoke briefly about the co-brand rollout. I know, initially, when we thought the late fee change could result in a pretty significant change to the existing credit revenue stream, the co-brand was thought to be a -- an offset to that, which would imply pretty material revenue contribution as we look into 2025. Can you just walk us through the current thoughts there? If the late fee change doesn't happen, I guess why wouldn't that be a significant upside to the current run rate of credit revenue? Thank you. Jill Timm -- Chief Financial Officer Sure. So, in terms of the co-brand, when we decided to launch co-brand, it was really to reach the younger customer, which we know didn't really want to have a private label credit card in their pocket. So, this is a new product that we could continue to evolve our loyalty through the card, but let them do it with a Visa card in their wallet. Obviously, one of the benefits to that was it's much more driven off of interest versus late fees because you run a bigger balance off of a card that you can use outside the four walls of Kohl's. And obviously then we also benefited from some of the interchange fees. So, if we do not end up having any risk from the CFPB legislation, there would be that benefit that we've outlined in regards to the co-brand. Of course, the bulk of that, as we stated, would be more in 2025. There will be some benefits coming through in Q4, but really need to get that card in the customer's hands, get them shopping with it, and having those balances revolved before you're going to start seeing a lot of that revenue flow through. So, as we approach 2025, you know, we'll look at really kind of where that legislation lies and give you guidance that would include, I think, a nice benefit from our co-brand launch, and that would build throughout the year. Mark Altschwager -- Analyst Excellent. Thank you and best of luck over holiday. Jill Timm -- Chief Financial Officer Great. Thanks, Mark. Operator Our next question comes from the line of Oliver Chen with TD Cowen. Please go ahead. Oliver Chen -- Analyst Hi. Tom, you brought a lot of constructive things to the organization, including speed, agility, and new categories. How would you diagnose the issues around the unintended consequences of some of these changes relative to the highly competitive promotional environment? And then second, as we look forward, fixing the core, it's been a multiyear issue in terms of apparel and embracing younger customers and also trying to get sustainably positive comps. But what's your take on what may need to be done to fix the core in terms of new -- the new CEO coming in? And lastly, chase versus replacement, I didn't quite understand that comment in terms of that strategy that you're undertaking looking forward as well. Thanks a lot. Tom Kingsbury -- Chief Executive Officer First of all, obviously, one of the unintended consequences was the fact that we under-placed our private and exclusive brands. That -- I would say that was one of the biggest issues that we had. You know, we obviously need to make sure that we're more realistic in terms of our approach to how we're placing goods, that we have the right balance between the market brands, the private brands. We put -- again, put too much pressure on the turn of the private brands. We thought we could do -- we can do more with a lot less, and that didn't work out for us. It's just -- you know, we're in learning mode, and that was a big lesson for us, which, you know, obviously was a big unintended consequence. I think all of us have learned from that overall. So, that's important. We've already gone through and -- for 2025, we've gone through the vendor matrixes very, very carefully to ensure that we have the right receipt reduction ratios, that making sure that we aren't putting too much pressure on any of the brands, that we're being much more realistic in terms of how we're approaching it. As far as chase versus, you know, replacement, making sure that we're utilizing our open-to-buy to go after goods when they're checking much more aggressively versus using our open-to-buy to replace things like our private and exclusive brands. We just need to buy it upfront correctly, which, obviously, we failed to do that, which resulted in the issue that we had with our private and exclusive brands. I don't know. Do you want to weigh in on any of that? Jill Timm -- Chief Financial Officer Yeah. I think the biggest thing you saw, Oliver, was we get excited about some of the market brands, but we're also trying to really tightly manage inventory, and so there became a trade-off there. And unfortunately, the unintended consequence was that we were down over 20% in our private and exclusive brands. And those are brands that really are opening price point. And so, when we're looking to drive value for our customer, we disappointed them not having brands they wanted at this opening price point. And so, that became a big headwind that we needed to overtake. You saw in our inventory numbers, we were down three, but we are actually saying we were down seven on hand. And the difference of that is really our proprietary brands. They were in transit, which we take ownership of, and they're setting as we speak. So, as we saw those first couple of weeks of November plan out, we saw some of the newness in our proprietary brands hit, we're seeing great sell-throughs, and I think these -- those are one of the actions that we took that led to the marked improvement that we referenced to our November results. So, it was something that just takes a while to get back into given the length of time in terms of the import process. But now that we're in it, we're definitely seeing a benefit from that. So, I think it's just really continuing the discipline. We think managing our inventory down mid-single digits is the right answer to drive turn, but we just have to have a little bit more discipline in staying close to those core brands that our customers want and using the market brands to really bring in that element of fashion and staying true more to that pyramid than we did during Q3. Oliver Chen -- Analyst OK. Jill, on the guidance, what did you say it assumes for the inventory growth relative to sales in light of what you need to do to inventories? And final question, on promos, what's embedded in guidance for merchandise margins and promotions, and does some of that relate to what you're seeing quarter to date, etc.? Thank you. Jill Timm -- Chief Financial Officer Yeah. I think, for inventory, we're going to still expect it down mid-single digit. That's where we think it's the best to run the business. We're getting back into the proprietary brands, like we spoke to, but, you know, we'll balance that with less of the market brands on the table. So, we feel like that's the right place to be as we end the year, and that's what I would expect us to be running the business going forward. We have a large opportunity to improve our turn, as we've spoken to, but we're going to do that in a paced approach so we don't do things too quickly as maybe we learned our lesson this year in doing that. In terms of margin, we are expecting it to be promotional. It always is promotional during Q4, so we're set to do that. I think a couple of things that we found worked well for us through the last couple of years is doing more targeted offers. So, as Tom just mentioned, we did that in Q3. It definitely drives our behavior, particularly around our most loyal customers. So, we know that that's a way for us to drive their behavior and have them see value. We do expect our proprietary brand to do much better than we saw in Q3 with the inventory investments that we're making, which obviously carry a better merch margin. So, as we think about our margin for Q4, you know, that's why we think we can get to the high end of the guide for the year, which would imply Q4 has a little bit of a step up in terms of what we saw in Q3. And then last, just we're in a clean position from an inventory perspective and, you know, Q4 is typically a big quarter from a clearance, so we do expect that will be a benefit for us as well. So, those are the kind of the pieces of the puzzle we put together to feel confident in giving the high end of the guide on the margin for the year. Oliver Chen -- Analyst OK. Happy holidays. Thanks. Jill Timm -- Chief Financial Officer You as well. Thanks, Oliver. Operator Our next question comes from the line of Chuck Grom with Gordon Haskett. Please go ahead. Chuck Grom -- Analyst Hey. Thanks. Good morning, and good luck, Tom, with everything. Can you guys just talk about the steps to recapture some of the lost customers that you may have alienated over the past couple of years by de-emphasizing the private brands and the jewelry counters? You know, I guess, on the one hand, it's a big opportunity. On the other hand, it's sometimes very hard to do. Jill Timm -- Chief Financial Officer Yeah. I think this is going to come down to our investment in marketing, Chuck, and I think, you know, you saw we've run a pretty tight SG&A for the year in Q4. You're seeing maybe a little bit -- if you do the math off of what we guided the year, a little bit more of an investment in SG&A, and that SG&A is going to come into marketing. So, we know the holidays when we attract the most new customers to our store, it's when our loyalists see the best value that we have. So, you're going to see that we're going to lean into Kohl's Cash. I think, right now, you're seeing our iconic 15 on 50 Kohl's Cash, which really resonates particularly with that most loyal customer. So, leaning into those type of events so we can bring them in and show that we have value. Targeted offers has been something that we continue to lean into and we see work to drive that consumer behavior. And then we're going to not only be in broadcast, in digital, in social from a new customer perspective, but we're going to lean back into direct mail and really go back to attract those customers who we know react to a direct mail flier and tell them, guess what, we do have your jewelry, it's back in stock, particularly around those 200 stores that we're going to have those fine jewelry counters in to make sure they know we have it and we're not going to disappoint them and we've heard them and their feedback and we're reacting to it. I think, you know, we mentioned on the call, in our bridge and fashion jewelry in Q3, we actually had a positive comp. So, we are starting to get that message out and the consumer is reacting to it, and we think we can build on that in Q4 as well. Tom Kingsbury -- Chief Executive Officer Petites. Jill Timm -- Chief Financial Officer And then petites. I think, you know, that's another area that was just, unfortunately, a miss. If you buy petites, it's not a substitutable product. So, we need to bring that back in. And so, how we can market and make sure that now that we have it in Q4 and really ensure that when they come in, they have that trip assurance that they're going to find that assortment back in our stores is a big deal. And that's going to be to a customer who was more loyal to us, so we know we can bring them back into these targeted offers and through the reach of marketing that we're going to make a big investment in Q4. Chuck Grom -- Analyst OK. Great. Thanks very much. And then I guess on the new product offerings, particularly Sephora, which remains strong, like you said, a two-year stack improvement, and there's concerns in the marketplace that that comp tailwind could moderate. So, I guess what -- I guess what's the game plan to offset that potential deceleration and can you discuss any improvement you've made on cross-selling across the store when somebody purchases a Sephora product? Jill Timm -- Chief Financial Officer Sure. I think, first, we're so excited about Sephora. So, I think that's why we did the two-year stack. That was just for you, Chuck, because I know you like those metrics. I actually liked this one a lot. Our customer loves it, and, you know, they keep coming back in for it. Gifting fragrance was an outperformer in Q3. And as you can imagine, as we go into Q4, it's a large gifting opportunity for us, and we're going to really lean into that. We had great success with our gift boxes last year. You know, we're doubling down on that this year. So, everything Sephora, I think, is definitely continuing to work. But as we have less new stores opening, you know, the comps will moderate. And you have it exactly right, our biggest opportunity is to continue to drive that cross-shop. And I think, you know, we continue to see the cross-shop. There's not a lot of change there. But that remains the biggest opportunity. I think some of it being we disrupted with Juniors moving that to the front of the store and then not having some of the product, particularly like our SO product, which is our opening price point, is a great fashion brand that Juniors has loved. We didn't have that product for them. Women's, we probably saw the biggest step change as that was much more impacted than other areas through our proprietary brand. So, we need to bring the product in and then invite them in to shop again. I think the third thing is Babies "R" Us, as that continues to roll out. It's a younger customer. You know, we're coming in with serving their families at a much earlier time in that moment, and we're seeing that really resonate younger customers, more diverse in the stores that we brought them into. And we're really excited about the amount of registries that we've seen. It just launched in October, and the amount of registries have surpassed our expectations. So, we know that all sales coming in front of us as well. So, I think you hit it on the head. We have a big opportunity on the cross-shop, but we're definitely focused on it, but we have to get back in stock on the things that they've come to know us for and things that they want before we will probably see that metric move. Chuck Grom -- Analyst OK. Great. And one quick last one for me, just we've gone 53 minutes and nobody has talked about the weather, which is pretty remarkable, but your business, historically, has always been very weather-sensitive. So, is there any way to handicap how much your sales were held back from the warmer temps over the past couple of months? Thanks. Jill Timm -- Chief Financial Officer Yeah. Weather has always been a -- like a huge impact in Q3 for us. It's the No. 1 correlated sales driver in Q3. Our fall seasonals were well below our company average. Tom Kingsbury -- Chief Executive Officer Yeah. We had a significant drop in fall-related product in the third quarter. You know, we haven't really talked about it, but it did negatively impact us. The good news is, looking at the fourth quarter, weather, you know, knock on wood, it continues to be as it is, colder than last year. But yeah, it hurt us in the third quarter. You know, when you have such a high penetration of apparel and footwear, it -- you know, as we do, it hurts us. That's one reason why we're trying to build, you know, our beauty business and while we're trying to build our home business and all the things that are not so negatively impacted by the weather. Jill Timm -- Chief Financial Officer Yeah. And I would just say that part of the marked improvement is fall seasonal started selling when it cooled off. Tom Kingsbury -- Chief Executive Officer Yeah. Jill Timm -- Chief Financial Officer And that is definitely been a positive tailwind into Q4. And the other thing, as Tom mentioned, apparel becomes less of a focus in Q4. So, really, a lot of our initiatives around home, gifting, Sephora become a bigger portion of our penetration as we go into the holiday period as well. Chuck Grom -- Analyst Great. Thanks, Jill. Good luck, Tom. Jill Timm -- Chief Financial Officer Thanks, Chuck. Tom Kingsbury -- Chief Executive Officer Thank you. Operator Our next question comes from the line of Dana Telsey with Telsey Group. Please go ahead. Dana Telsey -- Analyst Hi. Good morning, everyone. As you think about a big picture -- Tom Kingsbury -- Chief Executive Officer Good morning, Dana. Dana Telsey -- Analyst Hi. As you think about a big-picture view of what's happening and where we are now, how much of it would you say, Tom, is internal that can be corrected over time, how much of it was the macro factors? And if you could push one button to accelerate something, what would that be? Tom Kingsbury -- Chief Executive Officer One button? Well, I think that the macro did impact us. You know, obviously, the customer, as we've been saying all along, has been squeezed. You know, we had tough sales with our lower-income consumer overall with, you know, everything that was impacting them in terms of, you know, inflation, etc. And, you know, that hurt us. I don't know how to put numbers to it overall. You know, we think that most of the things that has happened are fixable, in general. You know, we should be able to offset any kind of macro issues in terms of, you know, changing the product assortments and improving our marketing. You know, we think that we can work to fix everything. I don't know if there's a total easy fix. But I think if we can continue to, you know, work on our execution, we should be able to capture the business that we really feel we can have. You know, but I -- you know, it's up to us to fix it. And, you know, we're always going to have some sort of macro-type issue. You know, we feel we're in a good place right now for fourth quarter because of all the effort we've put into gifting, in terms of all the things we've done in terms of in our home business, to try to build that business, our impulse business, etc., our seasonal business. But, you know, we feel that if we can continue good execution, we'll be in a good place. Dana Telsey -- Analyst Thank you. And, Jill, anything on the puts and takes of expenses given that you're managing so carefully? How are you thinking about labor costs this year compared to last year as we go through the season? Jill Timm -- Chief Financial Officer Sure. I think you saw we called out stores have done a phenomenal job managing expenses, and we really have a great variable model based on when we see our sales coming in, obviously also benefiting from our inventory management having less units to touch to that process, as well as the clean inventory, not having to take as many markdowns. So, I would say we want to make sure that we have a great experience for our customers during the holiday. So, you will see, you know, that we're going to invest in that labor in the store, but we also have a model that we can pull back when we don't have sales there. So, I think that's been a key contributor to our expense management. But I would just say, across all lines of this area, everyone has really shown up to pull back in terms of, hey, the sales weren't there, we need to pull back from an expense perspective. The one place that we will lean into in Q4, like I mentioned, will be marketing. So, I think that's the one step change that you'll see from the beginning part of the year into Q4. We know we have an opportunity to reengage with some of the customers that we disappointed with the exits of fine jewelry, petites, etc. So, we need to make them aware that we have it. We need to make them aware that they can find that value back to Kohl's. And then continuing to drive that new customer growth that we've seen all year, as well as bring people into our loyalty program. And we're really proud with the 4 million signups we've had, but we know we can build on that tremendously during Q4 as well. Dana Telsey -- Analyst Thank you. Operator Our final question today comes from the line of Paul Lejuez with Citigroup. Please go ahead. Paul Lejuez -- Analyst Hey. Thanks, guys. Just a couple of quick ones. Curious where you think you might be losing customers to what other retailers might be taking share. Second, as you get into private brands again in a little bit of a bigger way, petite, jewelry, what are you giving up in terms of floor space, what might feel the pressure? And then last, curious if you're thinking any differently about closing stores. Jill Timm -- Chief Financial Officer OK. I'm going to start with the store closures. I think, you know, we've always talked a lot about the health of our store base. We generate a lot of cash from our stores. You know, we have the luxury of being in convenient locations and off mall, which has always been helpful. With that said, we're always evaluating our fleet to optimize it, and I think you're -- you know, we're always going to have moves that I would consider more from a hygiene perspective, Paul. But I would definitely say that there are places that, you know, we'll look at, but over 90% of our stores are still four-wall cash-positive. So, it's a difficult financial decision to make it. But obviously, on the periphery, from a hygiene perspective, there's going to be some opportunities for us to address those underperformers, which we will do. In terms of giving up floor space when we make the investment back in private brands, I think we've also talked about we have a lot of space. Our average store is over 80,000 feet. We've been able to bring in Babies "R" Us and some other brands without having to really give up floor space. I think this is where we were saying we replaced a lot of our private brands instead of doing a chase with the market brands. And so, we're going to just come back into having floor space dedicated to our private brands. But there isn't anything we really have to give up. We'll still have market brands. It'll just be much more in a fashion, bring it in, get it out faster versus a replacement of a proprietary brand. But I don't think we ever feel like we have been making choices because the floor space is really there in the box that we own today. And then in terms of customer share loss, I think, you know, we continue to monitor it, obviously being down. I think it's going to a lot of the winners that you've seen put their numbers out there. I think it gets pretty spread. So, you know, you can see it across, whether it be Amazon off price, etc., I think there's a trade-down that typically happens as well. So, we know, from a customer demographic, our upper-income customers are doing and faring well better than our lower-income customers. So, they become much more discerning in their purchases, either not buying as much because they can't afford to or they're finding an alternative. And that's where, obviously, when we didn't have that proprietary brand opening price point value, they found other options this quarter, which is why, again, we'll double down on the marketing, that we're going to go after them to bring them back in, particularly once we have that inventory in place, which, hopefully, Paul, if you go out to a store, you'll see that they're ready and you can find yourself a great sweater. Tom Kingsbury -- Chief Executive Officer Thanks to everyone listening on the call today. We wish you a wonderful holiday season. Thank you. Operator [Operator signoff] Duration: 0 minutes Call participants: Mark Rupe -- Senior Vice President, Investor Relations and Treasurer Michael Bender -- Independent Chair of the Board Tom Kingsbury -- Chief Executive Officer Jill Timm -- Chief Financial Officer Robert Drbul -- Analyst Bob Drbul -- Analyst Mark Altschwager -- Analyst Oliver Chen -- Analyst Chuck Grom -- Analyst Dana Telsey -- Analyst Paul Lejuez -- Analyst More KSS analysis All earnings call transcripts
Unions attack 2.8% Government pay rise proposal for NHS workers and teachers
Samajwadi Party (SP) chief Akhilesh Yadav and Bahujan Samaj Party (BSP) president Mayawati have called on the central government to steer clear of political controversy in the wake of former prime minister Manmohan Singh's passing. Singh, the architect of India's economic reforms, died at AIIMS in Delhi at 92. The nation prepares to honor him with full state honors at Nigambodh Ghat, New Delhi. Congress President Mallikarjun Kharge has requested Prime Minister Narendra Modi to organize Singh's funeral at a site where a memorial can be erected. Leaders stress the importance of respecting Singh's family and fostering unity during this time of mourning. (With inputs from agencies.)I Tried the $299 Feno Smartbrush to Clean My Teeth. It's a Mouthful
The Cincinnati Bearcats men's basketball team has gotten off to a fast start this season in more ways than one. The No. 16 Bearcats have raced to a 5-0 record while outscoring their opponents by more than 31 points per game, with just one team (Northern Kentucky) coming within 16 points. Cincinnati is averaging a robust 87 points per game with one of the more efficient offenses in college basketball. Cincinnati will look to continue that hot streak when it plays host to Alabama State in nonconference action Wednesday evening. Cincinnati has punished opposing defenses in a variety of ways this season. Despite being the No. 14 offense in the nation in Ken Pomeroy's efficiency ratings, the Bearcats aren't among the nation's leaders in pace. Still, they take advantage of those opportunities when they are there. "Us playing fast is something we want to do," Cincinnati forward Dillon Mitchell said. "When I was being recruited here, that was something Coach (Wes) Miller wanted to do. "There could be games where we're not making shots or something is off, but one thing is we're gonna push the ball, play hard and play fast. That's something he preaches. We'll be in shape and get rebounds." Mitchell is fresh off a double-double with 14 points and 11 rebounds in Cincinnati's 81-58 road win at Georgia Tech Saturday. He is one of four Bearcats to average double figures in scoring this season. That balance was on display once again against the Yellow Jackets, with Connor Hickman and Jizzle James also scoring 14 points each and Simas Lukosius contributing 12 points. In that game, Cincinnati sank 51.6 percent of its shots while regularly getting out into transition with 16 fastbreak points, while winning the rebounding battle 36-29. "Any time you get a road win over a quality, Power 4 team, you're gonna feel good about it," Miller said. "I was pleased with our effort." Lukosius is scoring 16.6 points per game, while James is at 14.0 points, followed by Mitchell at 12.4, while he also grabs a team-best 8.6 rebounds. Alabama State (3-3) has a tough task ahead, especially when considering its 97-78 loss at Akron Sunday, which ended a three-game winning streak. The Hornets allowed the Zips to shoot 46.4 percent from the field and were 53-32 in the rebounding battle. Alabama State gave up a season high in points, after playing the likes of LSU and UNLV earlier this season. Akron standout Nate Johnson lit up Alabama State for 25 points, as the game got away from the Hornets in the second half to keep them winless in true road games. Alabama leading scorers CJ Hines and TJ Madlock still got theirs against Akron, scoring 19 and 17 points, respectively. They were joined in double figures by reserve Tyler Mack (18 points), but recent history says they'll need more help to keep up with the Bearcats. Hines leads the Hornets with 15.7 points per game, while Madlock contributes 14.5 points. In previous Akron Basketball Classic wins last week against Omaha and Lamar, Alabama State featured at least four double-digit scorers in each game. --Field Level MediaTrump's threat to impose tariffs could raise prices for consumers, colliding with promise for reliefArchaeologists have discovered the remains of an ancient city road dating back over 3,000 years at Yinxu, or the Yin Ruins, in central China’s Henan Province. – Xinhua photo BEIJING (Dec 28): Archaeologists have discovered the remains of an ancient city road dating back over 3,000 years at Yinxu, or the Yin Ruins, in central China’s Henan Province. The archaeologists have carried out excavations and confirmed the presence of a north-south main road, featuring a 1.6-kilometre-long ditch and dense wheel ruts on its surface. This discovery marks the longest urban thoroughfare ever found at the site, which had been the capital of the late Shang (Yin) Dynasty (1600 BC-1046 BC). The new discovery was revealed at a briefing held by the National Cultural Heritage Administration on Thursday, highlighting the latest progress in a project exploring archaeology in China. Fine sand mixed with fragments of pottery and small stones was found on the road surface. Cultural relics such as bronze horse bits and stone axes have also been unearthed from the surrounding soil, according to Niu Shishan, a researcher at the Institute of Archaeology of the Chinese Academy of Social Sciences who is in charge of the excavation work. “Over 3,000 years ago, this road was likely bustling with carriages and horses, teeming with the constant flow of traffic,” Niu said. This new discovery, along with previously uncovered remains of multiple roads and ditches, reveals an urban road network pattern of the Shang Dynasty capital, featuring a grid of three main east-west roads and three main north-south roads. The newly discovered network of roads and ditches, confirmed this year, fills a gap in the large-scale linear remains on the north bank of the Huanhe River at the Yin ruins, Niu said, adding that these findings have provided archaeologists with a preliminary understanding of the urban framework in this area, marking a significant breakthrough in the study of the urban planning and layout of the capital city of Shang Dynasty. The study of the scale, layout and functional zoning of the Yin Ruins has long been a key focus for archaeologists in the field. After years of excavation on the north bank of the river, archaeologists in 2024 discovered multiple roads and associated ditches in the area. Some of these roads are more than 15 metres wide, with the widest point stretching nearly 30 metres, indicating that they were major thoroughfares in the capital at the time. The main roads discovered in this area are spaced 320 to 550 metres apart, while some intermediate-level roads are located about 100 metres apart. These roads are interconnected, showing clear evidence of intentional human planning, according to Niu. Based on previous findings of archaeological excavations, it has been confirmed that the roads in the Shang capital city can be generally classified into three levels according to their width, or referred to as main roads, streets and alleys, Niu said. Situated in Henan’s Anyang City, the 3,300-year-old Yin Ruins is the first documented late Shang Dynasty capital site in China, as confirmed by archaeological excavations and oracle bone inscriptions. – Xinhua
Emboldened by the view from the top of the NFC North, the Detroit Lions are out to eliminate nightmare holiday gatherings when the Chicago Bears come to town Thursday for a lunchtime division duel. The Lions (10-1) are streaking one direction, the Bears (4-7) the other in the first matchup of the season between teams on opposite ends of the division. Riding a nine-game winning streak, their longest since a 10-game streak during their first season in Detroit in 1934, the Lions are burdened by losses in their traditional Thanksgiving Day game the past seven seasons. Three of the defeats are courtesy of Chicago. The Bears and Lions get together for the 20th time on Thanksgiving -- the Bears have 11 wins -- this week in the first of two meetings between the teams in a 25-day span. Detroit goes to Soldier Field on Dec. 22. "I think there's two things," Campbell said of the Thanksgiving losing streak. "Number one -- Get a W. And it's a division win that's why this huge. Number two is because the players are going to get a couple of days off. So, they have family, friends in, it'd be nice to feel good about it when you're with everybody because it's just not real fun. It's not real fun to be around." Detroit (10-1) owns the best record in the NFC but the Lions aren't even assured of a division title. Minnesota sits one game behind them and Green Bay is two games back. The Bears (4-7) sit in last place and would likely need to run the table to have any chance of making the playoffs. The Lions have been dominant in all phases and haven't allowed a touchdown in the past 10 consecutive quarters. Detroit's offense ranks first in points per game (32.7) and second in total yardage (394.3) The Lions defense has not given up a touchdown in the last 10 quarters. Rookie placekicker Jake Bates has made all 16 of his field goal attempts, including four from 50-plus yards over the past three games. Chicago shows up in a foul mood. The Bears are saddled with a five-game losing streak and Chicago's defense has been destroyed for nearly 2,000 total yards in the last four games. The Bears failed to reach the 20-point mark four times in five outings since they last won a game. In their latest defeat, rookie quarterback Caleb Williams and the offense perked up but they lost to Minnesota in overtime, 30-27. "We have to play complementary football for us to be able to win these games," coach Matt Eberflus said. "The games we have won, we have done that. The games we have been close we've missed the mark a little bit. Over the course of the year, it's been one side or the other, this side or that side. In this league you have to be good on all sides to win. That's what we are searching for." Williams threw for 340 yards and two touchdowns without an interception. The wide receiver trio of DJ Moore, Keenan Allen and Romeo Odunze combined for 21 receptions and two touchdowns while tight end Cole Kmet caught seven passes. "What I've been impressed with is just how he has grown," Campbell said. "He has grown every game but these last two I really feel like he's taken off and what they're doing with him has been really good for him and he just looks very composed. He doesn't get frazzled, plays pretty fast, and he's an accurate passer, big arm, and he's got some guys that can get open for him." Detroit's banged-up secondary could be susceptible against the Bears' veteran receivers in their bid to pull off an upset on Thursday. The Lions put two defensive backs on injured reserve in the past week and top cornerback Carlton Davis isn't expected to play due to knee and thumb injuries. Detroit offensive tackle Taylor Decker (knee) and top returner Kalif Raymond (foot) are also expected to miss the game, though Campbell expressed optimism that running back David Montgomery (shoulder), formerly of the Bears, would play. Bears safety Elijah Hicks was listed as a DNP for Tuesday's walkthrough. --Field Level MediaNone
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NEW YORK (AP) — A federal judge is signaling that Rudy Giuliani’s contempt hearing next Friday might not end so well for the former New York City mayor and onetime personal lawyer for President-elect Donald Trump as two Georgia election poll workers try to collect a $148 million defamation award they won against him. Read this article for free: Already have an account? To continue reading, please subscribe: * NEW YORK (AP) — A federal judge is signaling that Rudy Giuliani’s contempt hearing next Friday might not end so well for the former New York City mayor and onetime personal lawyer for President-elect Donald Trump as two Georgia election poll workers try to collect a $148 million defamation award they won against him. Read unlimited articles for free today: Already have an account? NEW YORK (AP) — A federal judge is signaling that Rudy Giuliani’s contempt hearing next Friday might not end so well for the former New York City mayor and onetime personal lawyer for President-elect Donald Trump as two Georgia election poll workers try to collect a $148 million defamation award they won against him. Judge Lewis J. Liman in Manhattan issued an order Friday in which he was dismissive of what he described as attempts by Giuliani and his lawyer to dodge providing information to the election workers’ lawyers. And he said the litigants should be ready at the contempt hearing to explain why he should not grant a request by lawyers for the two election workers that he make adverse inferences from evidence in the case that would put Giuliani’s Palm Beach, Florida, condominium in danger of being surrendered to satisfy the defamation award. The judge also said he may rule on the contempt request at the hearing. Giuliani has maintained that the Palm Beach property is his personal residence now and should be shielded from the judgment. He faces a Jan. 16 trial before Liman over the disposition of his Florida residence and World Series rings. Lawyers for the election workers filed the contempt request after saying Giuliani had failed to turn over a lease to his Manhattan apartment, a Mercedes, various watches and jewelry, a signed Joe DiMaggio shirt and other baseball momentos. The judge ordered Giuliani to turn over the items in October. Winnipeg Jets Game Days On Winnipeg Jets game days, hockey writers Mike McIntyre and Ken Wiebe send news, notes and quotes from the morning skate, as well as injury updates and lineup decisions. Arrives a few hours prior to puck drop. A request for comment was sent to a lawyer for Giuliani, who was supposed to be deposed on Friday. In October, Liman ordered Giuliani to turn over many of his prized possessions to the poll workers. Giuliani’s lawyers have predicted that Giuliani will eventually win custody of the items on appeal. The contempt hearing follows a contentious November hearing in which Giuliani, a former federal prosecutor, became angry at the judge and said Liman was treating him unfairly. Giuliani was found liable last year for defaming the two Georgia poll workers by falsely accusing them of tampering with ballots during the 2020 presidential election. The women said they faced death threats after Giuliani falsely claimed they sneaked in ballots in suitcases, counted ballots multiple times and tampered with voting machines. Advertisement Advertisement
'Laboured' - Sunderland fans express concern ahead of Swansea City game following Bristol City drawNEW YORK , Nov. 26, 2024 /PRNewswire/ -- Report on how AI is driving market transformation - The global construction equipment market size is estimated to grow by USD 3.8 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of 5.21% during the forecast period. Rising number of new construction equipment launches is driving market growth, with a trend towards rise in adoption of electric construction equipment. However, high initial cost and maintenance of construction equipment poses a challenge. Key market players include AB Volvo, Action Construction Equipment Ltd., Caterpillar Inc., CNH Industrial NV, Deere and Co., Doosan Corp., Escorts Ltd., Guangxi Liugong Machinery Co. Ltd., Hitachi Construction Machinery Co. Ltd., HD Hyundai Construction Equipment Co. Ltd., J C Bamford Excavators Ltd., Kobe Steel Ltd., Komatsu Ltd., Liebherr International AG, Manitou BF SA, Sany Group, Sumitomo Heavy Industries Ltd., Terex Corp., Xuzhou Construction Machinery Group Co. Ltd., and Zoomlion Heavy Industry Science and Technology Co. Ltd.. AI-Powered Market Evolution Insights. Our comprehensive market report ready with the latest trends, growth opportunities, and strategic analysis- View Free Sample Report PDF Key Market Trends Fueling Growth The Construction Equipment Market is experiencing significant growth due to increasing infrastructure projects and urban migration. Sustainable projects, such as renewable energy and smart city development, are driving the demand for electric construction equipment and autonomous machinery. Battery technology and hybrid dump trucks are becoming popular alternatives to diesel engines due to emission laws. Heavy equipment and compact construction equipment are essential for infrastructure projects, including national highway developments and housing projects. The rental equipment industry is thriving due to the closure of construction activities and the need for fuel-efficient equipment. Technological integration, including autonomous vehicle technology and automation, is improving equipment efficiency and productivity. The Construction Leadership Council is advocating for infrastructure investments and industrial application in sectors like mining, agriculture, forestry, waste management, municipal services, and material handling. The market is also witnessing trends like advanced equipment, smart grids, and long-term contracts. Despite the challenges posed by environmental imbalance and greenhouse gas emissions, the construction equipment market continues to evolve, offering opportunities for innovation and growth. The global construction equipment market is experiencing a significant growth in the utilization of electric construction equipment. This trend is primarily driven by the rising awareness of sustainability and stringent emissions regulations. Electric construction equipment offers several advantages, including lower operating costs, reduced carbon emissions, quieter operation, and enhanced operational efficiency. These benefits make electric equipment an attractive choice for construction firms aiming to boost their environmental performance and operational efficiency. The increasing focus on sustainability and environmental responsibility within the construction sector is a key factor fueling the adoption of electric construction equipment. Electric equipment significantly reduces emissions compared to diesel-powered alternatives, enabling construction companies to comply with environmental regulations and minimize their carbon footprint. Insights on how AI is driving innovation, efficiency, and market growth- Request Sample! Market Challenges The construction equipment market faces numerous challenges in infrastructure projects, with sustainable initiatives and emission laws being top priorities. Electric construction equipment, autonomous machinery, and battery technology are gaining popularity for their eco-friendliness and efficiency. However, the transition from diesel engines to electric power and autonomous machinery comes with challenges, including high upfront costs and the need for advanced infrastructure. Urban migration and public spending drive the demand for construction activities in various sectors like mining, agriculture, forestry, material handling, waste management, municipal services, and more. Heavy equipment and compact construction equipment are essential for these industries, with a focus on equipment efficiency and technological integration. Emission laws, fuel-efficient equipment, and renewable energy projects are key considerations for infrastructure investments. The rental services sector plays a crucial role in providing access to advanced equipment for various industrial applications. The Construction Leadership Council and trade agreements aim to address these challenges through collaboration and standardization. Construction activities closure due to the pandemic and environmental imbalance have impacted the market. The future of construction equipment lies in smart city development, automated equipment, and the integration of renewable energy sources, such as solar and wind power, into smart grids. Long-term contracts and product quality are essential for maintaining a competitive edge in the market. The global construction equipment market faces significant challenges due to the high initial costs and ongoing maintenance expenses. These factors pose financial hurdles for construction companies, particularly small- and mid-sized businesses. Acquiring new construction equipment requires a substantial upfront investment, straining financial resources and potentially leading companies to purchase older or lower-quality equipment. This decision may compromise performance, efficiency, and safety. Overall, these challenges impact purchasing decisions, operating budgets, and industry performance. Insights into how AI is reshaping industries and driving growth- Download a Sample Report Segment Overview This construction equipment market report extensively covers market segmentation by 1.1 Owned equipment 1.2 Rented equipment 1.3 Leased equipment 2.1 Commercial 2.2 Residential 2.3 Infrastructure 3.1 APAC 3.2 North America 3.3 Europe 3.4 Middle East and Africa 3.5 South America 1.1 Owned equipment- The owned equipment segment in the global construction equipment market consists of machinery and vehicles that construction companies, contractors, and end-users own outright. This segment includes excavators, loaders, skid steers, trucks, trailers, and other construction-specific vehicles. Ownership allows for greater control over assets and operations, making it a significant portion of the market. Trends include advanced telematics, IoT solutions, eco-friendly machinery, and automation. Technological advancements, environmental concerns, and market dynamics drive these developments. Owned equipment is cost-effective for larger projects and offers operational efficiencies and savings. Macroeconomic factors, regulatory policies, and labor dynamics influence demand. The adoption of owned equipment is expected to increase due to these advantages, driving growth in the market. Download complimentary Sample Report to gain insights into AI's impact on market dynamics, emerging trends, and future opportunities- including forecast (2024-2028) and historic data (2018 - 2022) Research Analysis The Construction Equipment Market is experiencing significant growth due to the increasing demand for infrastructure development and sustainable projects. Electric construction equipment, autonomous machinery, battery technology, and hybrid dump trucks are becoming increasingly popular as solutions for reducing emissions and improving equipment efficiency. Infrastructure projects, including road infrastructure and national highway projects, are driving the market, with a focus on technological integration for increased productivity. Mining, agriculture, forestry, material handling, waste management, municipal services, and automated equipment are other sectors benefiting from advancements in construction machinery. Diesel engines continue to dominate the market, but stricter emission laws are pushing the industry towards cleaner alternatives. Pavers, dozers, and forklifts are among the essential equipment types in the construction equipment industry. Market Research Overview The Construction Equipment Market is experiencing significant growth due to the increasing demand for infrastructure development, sustainable projects, and urbanization. Electric construction equipment, autonomous machinery, and advanced battery technology are becoming increasingly popular as the industry shifts towards more sustainable and efficient solutions. Diesel engines and hybrid dump trucks are still in use, but emission laws are driving the adoption of fuel-efficient equipment. Heavy equipment and compact construction equipment are essential for various industries, including mining, agriculture, forestry, material handling, waste management, municipal services, and commercial infrastructure. The Equipment rental industry plays a crucial role in providing flexible solutions for construction activities. Smart city development, renewable energy projects, and industrial applications are also major drivers for the market. Technological integration, including autonomous vehicle technology and smart grids, is transforming the construction landscape. Long-term contracts and product quality are essential considerations for construction projects, which are becoming more complex and sophisticated. The Construction Leadership Council and various trade agreements are shaping the future of the industry, with a focus on innovation, sustainability, and safety. Construction activities closure due to the COVID-19 pandemic has had a significant impact on the market, but the industry is expected to recover as infrastructure investments resume. Table of Contents: 1 Executive Summary 2 Market Landscape 3 Market Sizing 4 Historic Market Size 5 Five Forces Analysis 6 Market Segmentation Product Owned Equipment Rented Equipment Leased Equipment Application Commercial Residential Infrastructure Geography APAC North America Europe Middle East And Africa South America 7 Customer Landscape 8 Geographic Landscape 9 Drivers, Challenges, and Trends 10 Company Landscape 11 Company Analysis 12 Appendix About Technavio Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios. Contacts Technavio Research Jesse Maida Media & Marketing Executive US: +1 844 364 1100 UK: +44 203 893 3200 Email: [email protected] Website: www.technavio.com/ SOURCE TechnavioTrump asks the Supreme Court to put the law that would ban TikTok on hold
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Liberian President Joseph Nyuma Boakai is facing widespread criticism following controversial comments made during an event in Lofa County, which many believe signal an acceptance of corruption. Speaking to attendees, President Boakai urged officials engaged in corrupt practices to use their ill-gotten gains for the development of Liberia. By C. Koinyeneh, [email protected] “So, we want to encourage those who want to remain corrupt and steal money, I beg, the money should be used to bless our people,” President Boakai said. The remarks have sparked outrage across Liberia, particularly among anti-corruption advocates and civil society organizations. Critics argue that such statements undermine the government’s commitment to combating corruption and improving governance in a nation already struggling with systemic corruption and poverty. Anti-Corruption Advocates React Anderson Miamen, Executive Director of the Center for Transparency and Accountability in Liberia (CENTAL), strongly condemned the comments, describing them as embarrassing and contradictory to the president’s anti-corruption pledges. “President Joseph Nyuma Boakai embarrassingly endorses corruption. A sitting president and professed integrity champion encouraging government officials to steal and bless their people? This is completely unacceptable,” Miamen said. “This goes against Liberia’s recent strides, such as its eligibility for a new Millennium Challenge Corporation (MCC) Compact.” Eddie Jarwolo, Executive Director of NAYMOTE, questioned the president’s commitment to accountability. “Are you serious about this, Mr. President? You expect to secure an MCC Compact with this mindset? What happened to the accountability platform on which you campaigned and won?” Jarwolo asked. Government Defends the President Amid the backlash, Youth and Sports Minister Jerror Cole Bangalu defended President Boakai, arguing that his remarks were taken out of context. In a social media post, Bangalu suggested that critics misunderstood the president’s intent. “Reading comprehension: ‘We want to encourage those who want to remain corrupt and steal money. I beg you, the money should be used to build our country,’” Bangalu wrote, emphasizing the president’s call for national development. Public Discontent The controversy comes as Liberia strives to rebuild its international reputation, particularly after achieving eligibility for another MCC Compact. Critics fear that such remarks could tarnish Liberia’s standing with international partners and hinder progress in addressing corruption, which has long plagued the country. President Boakai, who campaigned on promises of integrity and accountability, now faces mounting pressure to clarify his comments and reaffirm his administration’s commitment to anti-corruption measures. The backlash underscores the delicate balance between addressing corruption and fostering public trust in Liberia’s governance. As public debate continues, many Liberians are calling for more decisive action and clear messaging from the president to ensure that his administration’s stance on corruption aligns with the expectations of the people and international partners.Etermax has been making games since 2009 and it score a big hit with Trivia Crack in 2013. The game has had had more than 800 million downloads to date, but Etermax has been finding new markets for it still. On November 28, Etermax launched Trivia Crack World on Meta Quest as a new virtual reality game that transports players to an immersive and interactive amusement park, blending knowledge, fun, and global connections across VR headsets, desktops, and mobile devices. Now the company is also expanding the world with new updates for the game, which has a 4.9 star rating out of 5. Trivia Crack World is the first-ever immersive trivia game on Meta Quest, offering a dynamic and engaging experience for casual gamers, trivia enthusiasts, and families alike. Set in a vibrant, knowledge-themed amusement park, players can interact with Trivia Crack’s beloved characters in real-time. Each character like Willy the Wheel has its own subject-themed island. Willy the Wheel also serves as the grand host of the park, which is opening its doors with Hector’s Museum, Albert’s lab and Tito’s Safari. The aim for Trivia Crack World is to present a refreshing alternative to typical VR titles, said Federico Segovia, head of product at Etermax in Buenos Aires, Argentina, in an interview with GamesBeat. “We didn’t just translate the mobile version. The advantage of VR is that you can create an immersive world where people can meet in real time. You can customize the experience, choose your language, and select the difficulty of the questions,” Segovia said. The development of Trivia Crack World was carried out by Etermax, 100% in-house, from the game itself to the soundtrack, Segovia said. While Etermax has more than 300 people, the VR game involved a team of more than 20 people, including designers, programmers, and others. The extended staff team at Etermax also supported the project throughout the development of the launch plan, which includes an integrated strategy of promotion and business. Additionally, the support from the Meta team in their promotional channels played a crucial role. Trivia Crack World aims to bring the fun of a trivia night out with friends and family to your living room. Players aged 13 and older can compete in various trivia challenges and explore trending topics in multiple languages while interacting with a global, online community. Adapting to VR Segovia, who has been at Etermax since 2016 as a game designer and now head of product, worked on the project for the past year. The company assembled a team that was familiar with family play, casual games mobile play, VR technology and a wide variety of audiences. “It was exciting to me as I have been a Vr player on the Meta Quest,” Segovia said. “We wanted to bring trivia to its next level. It’s an adaptation of the mobile version of trivia crack, but everything was redesigned. The interaction is in real time and so the social aspect of the game is powerful.” While VR is often a solitary form of entertainment, trivia is inherently more social. So it made sense to create a multiplayer version of the trivia game in addition to a solo play version. “The driver of the main game is the open match, where people who don’t know each other can gather and play,” Segovia said. The VR version also includes user-generated questions, much like with the mobile version, where players can create more local content relevant for their own city or country. “Across the development of the game, we worked a lot with the core community to get feedback, like building an attraction for the outdoor club,” Segovia said. “We wanted to make the game stand out from the competition in the store. “We’ve always liked challenges,” Segovia said. “We were pioneers with our trivia game and we made it into the best in the mobile stores. Now with VR, the market started to get interesting about three years ago,” Segovia said. “We deicded VR would be very important for for consumers in the future. So we make this first step to move into it.” While many people think that VR hardware is only attractive to hardcore gamers, there are a lot of casual games at the top of the VR stores. The content includes casual, midcore and hardcore games. While the market is still early, VR games are becoming successful enough to support a number of mid-size game studios like Schell Games and Resolution Games. Trivia Remixed: Take on challenges, solve puzzles, and more Trivia Crack World merges the iconic Trivia Crack brand, which is known in 180 countries and 34 languages, with Meta Quest’s VR technology. Players go on a trivia adventure and not only answer questions but also solve puzzles, interact with virtual objects, and tackle challenges that blend cognitive and physical skills. Minigames include fishing for answers, drawing accurately, hitting targets, and navigating mazes—adding unique twists to the old trivia format. Trivia Crack World connects players worldwide and offers a multilingual experience supported by Trivia Crack’s Question Factory, which boasts over 50 million user-generated trivia questions. Localized content ensures players encounter fresh, relevant questions based on their geographical location. Trivia Crack World lets players engage in trivia with others with two multiplayer modes. Players can compete with trivia fans globally, answering questions to climb leaderboards, earn trophies, and access exclusive rewards in a competitive environment. Players can also play solo, where you test your knowledge and train your trivia skills in your own time. And you can engage in private matches, where users can create custom games, share codes, and enjoy a friendly trivia showdown no matter the distance. Trivia Crack World is available on Meta Quest in English, Spanish, Portuguese, French, Italian, and German, it can also be played on Android , iOS , and Windows devices. Expanding the amusement park with new updates The beloved Trivia Crack franchise has now added new themed attractions and a new space where players can spark their curiosity and enjoy thrilling challenges hosted by the game’s characters. Arriving just in time for Christmas, players will be able to explore two new immersive attractions: Tito’s Safari and Albert’s Lab, and an enhanced experience in Hector’s Museum. Each adventure challenges players with interactive quests hosted by the game’s iconic characters. Albert’s Lab : Players will have the opportunity to visit Albert’s bastion of science and face off his robot in an epic game of charades. The challenge? Solve the mystery with the fewest questions to be crowned the winner. Tito’s Safari : Invites players to a scavenger hunt in a series of islands in search of amazing animals. Users will have to spot and learn about each species with those who successfully capture photos of all the safari’s creatures receiving a bundle of tickets to spend at the shop. Hector’s Island : The Museum of Hector is the first attraction to receive a dedicated island space. This new zone is filled with historical objects for players to interact with and explore, as well as a place to meet other players before entering the main exploration maze of the museum. This is just the beginning—soon, all attractions will feature their own dedicated island zones. Players of all ages can explore knowledge-based adventures like scavenger hunts, epic charades, and historical challenges in a fully immersive virtual amusement park. The game is available on the Meta Horizon Store for $10. If you want to impress your boss, VB Daily has you covered. We give you the inside scoop on what companies are doing with generative AI, from regulatory shifts to practical deployments, so you can share insights for maximum ROI. Read our Privacy Policy Thanks for subscribing. Check out more VB newsletters here . An error occured.
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