The Ottawa Police Service says ten people were taken to hospital, with one of them in life-threatening condition, after being exposed to suspected carbon monoxide in the neighbourhood of Vanier on Sunday morning. Six adults and four children sustained various levels of poisoning, according to police. They were transported to different hospitals, Ottawa paramedics say. All four children are in serious, but stable condition. One adult is in life-threatening condition. The other five are in serious, but stable condition. Ottawa police say they received a call just after 9 a.m. reporting there were people in distress inside a home in the 200 block of Granville Street, north of Montreal Road. When police arrived at the scene, they found ten people were in distress. Officers on scene suspected that "there may have been some carbon monoxide poisoning involved." "There was a vehicle running inside the garage and the garage door was closed. Therefore, there wasn't sufficient ventilation for the exhaust coming out of the vehicle," said Insp. Scott Pettis with the Ottawa Police Service. "It's our understanding that the family that lives at the address is new to Canada. They're not really familiar with the cold. And they did run their vehicle to make it warm for them to travel at some point. Not knowing that they then had to open their garage door to properly ventilate the area." The patients were discovered by a family friend who had stopped by and seen them in distress. The friend then called 9-1-1. Police say the incident is not being treated as suspicious at this time. "The gas company is still working, just doing their checks to make sure everything else is okay before we allow the families to return," Pettis said. "I can say that there is sufficient alert systems inside the house and, so whether or not they were in working order, we're not exactly sure yet." Ottawa police Insp. Scott Pettis on Dec. 22, 2024. (Natalie van Rooy/CTV News Ottawa) Area councillor Stephanie Plante says the gas affected all three connected townhomes. She says each family has been evacuated. "People were not expecting to have this kind of holiday season and my thoughts are with them and their families," Plante said. Police are reminding residents to make sure all home fire and carbon monoxide alarms are functioning. Carbon monoxide, sometimes known as “the silent killer,” is an odourless, colourless gas that can be fatal in high concentrations. Symptoms of carbon monoxide poisoning include dizziness, vomiting, headache and eventually loss of consciousness and death. Nearby residents shocked Victoria Robinson lives nearby and says she was awoken by screaming and shouting. "The whole street was emergency vehicles. Then I saw, right in front of the house, there were two people on the ground receiving chest compressions," Robinson said. "It was very upsetting." Nearby resident Nicholas Laplante said they didn't know the people inside the home well but that they recently moved to the area. "My neighbor was there, the one beside the unit, helped him out, welcomed him in our house with his dog because it was cold outside," Laplante said. "It hits hard. It's unfortunate. It's the holidays. We hope that everybody's okay." A utility worker monitors a gas line on Granville St. after 10 people were hospitalized in a suspected carbon monoxide poisoning. (Natalie van Rooy/CTV News Ottawa) Shopping Trends The Shopping Trends team is independent of the journalists at CTV News. We may earn a commission when you use our links to shop. Read about us. Editor's Picks 20 Great Last-Minute Gifts From Amazon Canada That Won't Break The Bank 22 Tiny (And Wonderful) Gifts To Stuff Your Stockings With This Year 28 Crowd-Pleasing Gifts For The Pickiest People On Your List Home 14 Of The Best Home Security Devices You Can Find Online Right Now (And They've Got The Reviews To Prove It) 13 Of The Best Fidget Toys For Adults 16 Cozy Home Essentials That Cost Less Than $100 Gifts The Clock Is Ticking — Shop These 25 Last-Minute Amazon Prime Gifts Now If You Have An Amazon Prime Account, These 70+ Crowd-Pleasing Gifts Will Still Arrive Before Christmas If You Have An Amazon Prime Account, These 50 Brilliant Stocking Stuffers Will Still Arrive Before Christmas Beauty 20 Products Your Dry, Dehydrated Skin Will Thank You For Ordering 14 Hydrating Face Masks That’ll Save Your Skin This December 12 Budget-Friendly Products To Add To Your Winter Skincare Routine Deals The Silk & Snow End Of Year Sale Is Officially On — Here's What To Add To Your Cart The Best Early Boxing Day Deals On Amazon Canada For 2024 This Smart Security Camera System Will Help You Keep An Eye On Your Home (And It's On Sale For 50% Off Right Now) Ottawa Top Stories 10 hospitalized after suspected carbon monoxide poisoning in Ottawa's east end Here's how you can watch CTV News at Six on Sundays during the NFL season Ottawa Ice Dragon Boat Festival cancelled for 2025 Flooding started, ice still thin: Here’s the latest update about the Rideau Canal Skateway What's open and closed in Ottawa over the holidays What's happening in Ottawa over the Christmas holidays OC Transpo to ring in 2025 with free transit on New Year's Eve OPP find wanted man by chance in eastern Ontario home, seize $50K worth of drugs CTVNews.ca Top Stories Wrongfully convicted N.B. man has mixed feelings since exoneration Robert Mailman, 76, was exonerated on Jan. 4 of a 1983 murder for which he and his friend Walter Gillespie served lengthy prison terms. Can the Governor General do what Pierre Poilievre is asking? This expert says no A historically difficult week for Prime Minister Justin Trudeau and his Liberal government ended with a renewed push from Conservative Leader Pierre Poilievre to topple this government – this time in the form a letter to the Governor General. opinion | Christmas movies for people who don't like Christmas movies The holidays can bring up a whole gamut of emotions, not just love and goodwill. So CTV film critic Richard Crouse offers up a list of Christmas movies for people who might not enjoy traditional Christmas movies. 'I'm still thinking pinch me': lost puppy reunited with family after five years After almost five years of searching and never giving up hope, the Tuffin family received the best Christmas gift they could have hoped for: being reunited with their long-lost puppy. Pickup truck driver killed by police after driving through Texas mall and injuring 5 A pickup truck driver fleeing police careened through the doors of a JCPenney store in Texas and continued through a busy mall, injuring five people before he was fatally shot by officers, authorities said. Two U.S. Navy pilots shot down over Red Sea in apparent 'friendly fire' incident, U.S. military says Two U.S. Navy pilots were shot down Sunday over the Red Sea in an apparent 'friendly fire' incident, the U.S military said, marking the most serious incident to threaten troops in over a year of America targeting Yemen's Houthi rebels. Big splash: Halifax mermaid waves goodbye after 16 years Halifax's Raina the Mermaid is closing her business after 16 years in the Maritimes. 10 hospitalized after suspected carbon monoxide poisoning in Ottawa's east end The Ottawa Police Service says ten people were taken to hospital, with one of them in life-threatening condition, after being exposed to suspected carbon monoxide in the neighbourhood of Vanier on Sunday morning. 'Sonic 3' bests 'Mufasa: The Lion King' at the box office In the holiday season battle of big-budget family movies, Paramount Pictures’ “Sonic the Hedgehog 3” sped past the Walt Disney Co.’s “Mufasa: The Lion King” to take the top spot at the box office ahead of the lucrative Christmas corridor in theaters. Atlantic Cape Breton police arrest second person in missing man investigation A second person has been arrested in the disappearance of Justin MacDonald in Cape Breton. Maritimers enjoy perfect conditions for the opening of Ski Martock near Windsor, N.S. Ski Martock near Windsor, N.S. opened their slopes Friday, welcoming the 2024/2025 season with a layer of fresh white snow. Canadian organization teaches people to combat loneliness through connection during holiday season. For some people the holidays are lonely time of year, but a Canadian organization is fostering a “human connection movement” in an effort to bring people together. Toronto Four people taken to hospital, 1 critical after house fire in Etobicoke: paramedics Four people are in hospital and one person has critical injuries after a house fire broke out in north Etobicoke Sunday afternoon. Westbound QEW, southbound Highway 403 in Oakville closed for police investigation The westbound Queen Elizabeth Way at Winston Churchill Boulevard along with the southbound lanes of Highway 403 at Upper Middle Road in Oakville are closed due to a police investigation. Cold weather in Toronto slowly easing up after frigid morning The temperature in Toronto is starting to ease up after a frigid Sunday morning, but still remains well below the freezing mark. Montreal Jewelry store robbery in Parc-Extension under investigation Montreal police (SPVM) are investigating a robbery that occurred at a jewelry store in the Parc-Extension neighborhood on Saturday evening. Workers helping the homeless in Montreal feel powerless as crisis deepens Social workers on the front lines of homelessness in Montreal say they feel increasingly powerless as more people find themselves forced to live in tents during the winter. Montrealers petition to halt Trudeau airport expansion over noise concerns Montreal residents living near flight paths are pushing back against plans to expand Trudeau International Airport, citing concerns over increased noise pollution. Northern Ontario OPP investigating fatal collision Saturday in northwest Ontario Ontario Provincial Police are investigating a fatal collision that occurred on Saturday evening in northwestern Ontario. Can the Governor General do what Pierre Poilievre is asking? This expert says no A historically difficult week for Prime Minister Justin Trudeau and his Liberal government ended with a renewed push from Conservative Leader Pierre Poilievre to topple this government – this time in the form a letter to the Governor General. Northern Ont. man illegally killed three moose, one deer A man from the northwestern Ontario community of Dinorwic has been found guilty of multiple hunting offences and fined $6,500, banned from hunting for five years and placed on probation for 18 months. Windsor 'Giving back': Kingsville store hands out free fresh groceries ahead of the holidays Cars lined up outside of Cindy’s Home and Garden store in Kingsville on Sunday morning for the first Green Pick-up Holiday Food Drive-Thru. Looking for a last minute stocking stuffer? This local fundraiser has the thing for you. If you’re looking for a stocking stuffer idea, consider the Kiwanis Camp Lottery Calendar! It offers $14,000 worth of prizes, including a cash prize every month and a gift up for grabs every week throughout next year. Annual Christmas dinner provides 2,000 meals to Windsor-Essex families About 30 volunteer drivers toured the region on Saturday, delivering the prepared meals, which included turkey, gravy, stuffing, dinner rolls and vegetables. London 'Ford Field Experience in London': Detroit Lions host tailgate and watch party at Canada Life Place It was a sea of Silver and Honolulu Blue on Dundas Place in London, Ont. as over 3,000 fans gathered for a Lions game on Sunday. Standoff in Seaforth at the centre of SIU investigation Following a standoff in Seaforth on Friday, the province’s police watch dog is investigating an officer’s conduct. Driver charged following collision with hydro box that plunged Listowel into darkness Saturday OPP and hydro crews were on scene on Hutton Street for much of the day working to clear the collision, and get power restored to the town. Kitchener Can the Governor General do what Pierre Poilievre is asking? This expert says no A historically difficult week for Prime Minister Justin Trudeau and his Liberal government ended with a renewed push from Conservative Leader Pierre Poilievre to topple this government – this time in the form a letter to the Governor General. Driver in Kitchener charged after going 180km/h in 70km/h zone A G2 driver has been charged after going 110km over the speed limit in Kitchener Sunday morning. 'I'm still thinking pinch me': lost puppy reunited with family after five years After almost five years of searching and never giving up hope, the Tuffin family received the best Christmas gift they could have hoped for: being reunited with their long-lost puppy. Barrie Residents startled by blue flashes in the sky during power outage in Barrie A power outage on Saturday night left over a thousand Barrie homes in the dark. Sauna fire creates cloud of smoke over part of Barrie's south end Dark clouds of smoke loomed over Barrie residents from a nearby parking lot in the south end. High school teacher charged with sexual assault amid allegations involving a student A 51-year-old teacher from Georgina has been charged with sexual assault following allegations involving a student. Winnipeg Minnesota-Manitoba border airport permanently shutting down after 70 years An airport with a runway that spans across the Canada-U.S. border will close for good by the end of this week. Manitoba man hopes to sell parts of unique, homemade musical instrument collection Eighty-eight-year-old Lorne Collie has been making musical instruments for more than three decades, creations that dazzle for their unique materials as much as their sound. Man attacks family with bear spray after vehicle collision: WPS A Winnipeg man is facing several weapon-related charges after police said he attacked a family with bear spray. Calgary Police looking for driver involved in pedestrian collision in downtown Calgary. One person is in hospital after being struck by an SUV in downtown Calgary early Saturday morning, It was Grandma, in the cafe with a Scrabble tile: Game cafes are big holiday business It’s the holidays, which means for many across the Prairies, there’s no better time to get locked in a dungeon with a dragon. Traffic advisory issued by RCMP due to poor driving conditions south of Calgary and north of Red Deer Alberta RCMP issued a traffic advisory early Sunday morning due to poor driving conditions throughout the province. Edmonton 'There’s no support': Domestic abuse survivor shares difficulties leaving her relationship An Edmonton woman who tried to flee an abusive relationship ended up back where she started in part due to a lack of shelter space. Hot NHL matchup between Oilers, Senators their last action before holiday break Two hot teams will look to create even more sparks Sunday night at Rogers Place before both sides take a holiday break. It was Grandma, in the cafe with a Scrabble tile: Game cafes are big holiday business It’s the holidays, which means for many across the Prairies, there’s no better time to get locked in a dungeon with a dragon. Regina Gathering held in Regina to recognize Winter Solstice Regina's mâmawêyatitân centre held a day of gathering for the Winter Solstice on Saturday. Canada's first sustainable Tim Hortons location to open in Regina this weekend Canada’s first sustainable Tim Hortons opens in Regina this weekend. The restaurant, located in the city’s east end, features design and operating features that minimize environmental impact. Gravelbourg's transportation program celebrates addition of new vehicle and garage The town of Gravelbourg is celebrating the addition of a new vehicle and garage which will be used in their local transportation program. Saskatoon Sask. woman dead following crash on Highway 5 A 69-year-old woman from the Humboldt area is dead after her SUV collided with a truck on Highway 5, according to police. Sask. police investigating mischief incident after bomb report in school Prince Albert police are investigating a mischief incident after a bomb report in a school Friday afternoon. Prince Albert woman collects donations to make Christmas hampers for community A Prince Albert woman is spreading holiday cheer by organizing Christmas hampers for those in need. Vancouver Second body recovered from site of B.C. landslide The second resident of a home that was destroyed by a landslide in Lions Bay, B.C., last weekend was found dead Saturday, officials confirmed. More strong winds hit parts of B.C.'s coast as record-high temperatures recorded What has been a windy weekend for parts of B.C.’s coast continued Sunday as Environment Canada issued a fresh set of wind warnings. Drug superlabs leave a toxic mess. Some say B.C.'s cleanup rules are a mess, too As clandestine drug labs become larger and more complex, so does the toxic mess they leave behind and the tools required to clean them up, creating expensive and dangerous situations for both people and the environment. Vancouver Island More strong winds hit parts of B.C.'s coast as record-high temperatures recorded What has been a windy weekend for parts of B.C.’s coast continued Sunday as Environment Canada issued a fresh set of wind warnings. Drug superlabs leave a toxic mess. Some say B.C.'s cleanup rules are a mess, too As clandestine drug labs become larger and more complex, so does the toxic mess they leave behind and the tools required to clean them up, creating expensive and dangerous situations for both people and the environment. Second body recovered from site of B.C. landslide The second resident of a home that was destroyed by a landslide in Lions Bay, B.C., last weekend was found dead Saturday, officials confirmed. Kelowna Forfeited Hells Angels clubhouse in Kelowna, B.C., sold to the city A former Hells Angels clubhouse that was seized by the British Columbia government in 2023 after years of fighting in court has been sold to the City of Kelowna. Death of woman found in Kelowna's Waterfront Park in June deemed 'non-criminal in nature': RCMP Police in Kelowna say a death they began investigating back in June has now been confirmed as "non-criminal in nature." B.C. man sentenced for 'execution-style' murder of bystander in drug trade conflict A B.C. man convicted of the "intentional and ruthless killing of a bystander" while acting as an enforcer in the drug trade has been sentenced for a second time in the slaying. Stay Connected
JMP Securities lowered shares of Innovid ( NYSE:CTV – Free Report ) from an outperform rating to a market perform rating in a research report report published on Thursday morning, MarketBeat.com reports. Separately, Needham & Company LLC reaffirmed a “buy” rating and issued a $3.00 price target on shares of Innovid in a research note on Wednesday, November 13th. Four research analysts have rated the stock with a hold rating, According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $2.83. Read Our Latest Stock Report on Innovid Innovid Stock Performance Institutional Investors Weigh In On Innovid Several institutional investors and hedge funds have recently modified their holdings of CTV. Vanguard Group Inc. raised its holdings in Innovid by 6.5% during the first quarter. Vanguard Group Inc. now owns 4,555,974 shares of the company’s stock valued at $11,344,000 after buying an additional 279,830 shares in the last quarter. Royce & Associates LP increased its holdings in shares of Innovid by 5.4% during the 3rd quarter. Royce & Associates LP now owns 4,376,721 shares of the company’s stock valued at $7,878,000 after acquiring an additional 223,940 shares during the last quarter. Whetstone Capital Advisors LLC lifted its holdings in Innovid by 0.7% in the 3rd quarter. Whetstone Capital Advisors LLC now owns 3,268,879 shares of the company’s stock worth $5,884,000 after purchasing an additional 23,642 shares during the last quarter. Geode Capital Management LLC boosted its position in Innovid by 8.2% during the third quarter. Geode Capital Management LLC now owns 2,433,158 shares of the company’s stock worth $4,380,000 after purchasing an additional 184,309 shares during the period. Finally, State Street Corp grew its holdings in Innovid by 12.6% during the third quarter. State Street Corp now owns 1,188,183 shares of the company’s stock valued at $2,139,000 after purchasing an additional 133,281 shares during the last quarter. Institutional investors and hedge funds own 25.46% of the company’s stock. About Innovid ( Get Free Report ) Innovid Corp. operates an independent software platform that provides ad serving, measurement, and creative services. It offers advertising services for the creation, delivery, and measurement of TV ads across connected TV, mobile TV, and desktop TV environments to advertisers, publishers, and media agencies. Further Reading Receive News & Ratings for Innovid Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Innovid and related companies with MarketBeat.com's FREE daily email newsletter .Prasun Sonwalkar The London Gazette founded in 1665 is not a publication you would usually turn to for news. It is a dour, bland chronicler of official announcements, statutory notices, wills and probate. But last week, one announcement raised quite a few hackles and eyebrows in the 1.5 million-strong Indian community. Two prominent individuals from the community who had been awarded royal honours for exemplary work in their fields had their honours cancelled and annulled: Rami Ranger, a businessman, and Anil Bhanot, an accountant known for his work in Britain’s Hindu community. It was the first time that celebrated members of the community had their honours annulled due to their involvement in controversies: not exactly a welcome distinction for a community that is otherwise regarded highly for their historic and contemporary contribution to British public life. Every year, when the list of royal honours is announced, there are invariably a large number of people of Indian origin honoured for their work in various fields, including knighthoods and damehoods. The next list is due to be announced on December 31. On December 6, the London Gazette announced that Ranger and Bhanot were among seven people whose honours had been cancelled and annulled by King Charles III, who has directed that their names be erased from the register and the order in which they were honoured. Ranger was honoured with a CBE (Commander of the Order of the British Empire) in 2015 and Bhanot was given the OBE (Officer of the Order of the British Empire) in 2010. They were stripped of their honours for what is officially called “bringing the honours system into disrepute”. The honours can be revoked on the advice of a Forfeiture Committee, whose recommendations to the King are submitted through the Prime Minister. In the case of Ranger and Bhanot, besides the widely reported rows in which they were involved (including alleged Islamophobia and comments against Pakistan), political overtones can hardly be missed: Ranger has been a long-time donor to the Conservative Party which, until recently, was in power. The committee’s recommendations would have gone through the Labour Prime Minister Keir Starmer. Both Ranger and Bhanot have protested against the cancellation and raised questions over Britain upholding the long-cherished right of free speech. How the controversy plays out remains to be seen, but their case puts the spotlight again on Britain’s ancient honours system. There have been rows in the past over cash-for-honours, but the honours continue to be coveted by many, even though some have campaigned to reform the system. Leading members of the British Indian community awarded knighthood or damehood in recent years include Pratibha Gai, Parveen Kumar, Asha Khemka, Tejinder Virdee, Harpal Singh Kumar, Venkatraman Ramakrishnan, Shankar Balasubramanian and Harshad Bhadeshia. Foreign citizens, including Indians, have also been honoured: knighthood /damehood are sitar maestro Ravi Shankar, former President Sarvapalli Radhakrishnan, former bureaucrat Chandrika Prasad Srivastava, industrialist Jamshed Jiji Irani, and Mother Teresa. The only Indian or Asian awarded in the Order of the Companions of Honour (CH) is economist Amartya Sen. Industrialist Ratan Tata was awarded the honorary Knight Grand Cross (GCB) of the Order of the British Empire for his services to UK-India relations, inward investment to the UK and philanthropy. Rabindranath Tagore, who was knighted in 1915, renounced the honour in 1919 over the Jallianwallah Bagh massacre, writing to the then viceroy, Lord Chelmsford: “The time has come when badges of honour make our shame glaring in the incongruous context of humiliation, and I for my part, wish to stand, shorn, of all special distinctions, by the side of those of my countrymen who, for their so called insignificance, are liable to suffer degradation not fit for human beings.” Throughout British history, monarchs have rewarded those who have shown service, loyalty or gallantry with gifts or titles. After medieval times, physical gifts, such as land or money were replaced by the awarding of knighthoods and of membership within orders of chivalry, accompanied by insignia such as gold or silver chains. As democracy and government evolved and parliament’s legislative role grew in the 18th and 19th centuries, the Cabinet Office took over the role of selecting recipients of the honours. There are currently nearly 125,000 men and women members of the Order of the British Empire, and normally around 1,100-1,200 are appointed at each honours round. The word ‘Empire’ is embedded in several titles but, as we know, the British Empire is long gone. Many are uneasy with the mention of ‘Empire’ in the titles, with growing demand that the word be replaced with ‘Excellence’: for example, Member of the British Empire (MBE) is sought to be renamed as ‘Member of British Excellence’, thus preserving the known abbreviation. The change is supported by several community organisations and individuals. The Public Administration Select Committee of the House of Commons also recommended that there should be no further appointments to the Order of the British Empire; instead, a new Order, the ‘Order of British Excellence’ should be founded, but the government opposed it on the ground that the case has not been made for change to the Order of the British Empire. (Prasun Sonwalkar is a columnist and former academic)MISSOULA — The Montana women's basketball team ran into a buzzsaw Sunday in defensive-minded Big Ten foe Minnesota. The Golden Gophers held the Lady Griz to a season-low seven points in the first quarter in racing to a 22-point lead. From there unbeaten Minnesota cruised to an 84-45 win at Williams Arena in Minneapolis. Montana had a two-game win streak snapped in falling to 3-3. Minnesota, who held UMass-Lowell and Oregon State in the 30s in wins earlier this season, improved to 7-0. The Gophers are coached by former South Dakota skipper Dawn Plitzuweit, whose emphasis on defense has been well-received. Minnesota finished 20-16 in her first season and is off to an impressive start this year. Not only did Montana lose the game, the team may have lost redshirt freshman guard Macy Donarski for a while. She left the game in the first quarter with what looked to be a significant left leg injury. Donarski did not play last season due to a knee injury. Montana was befuddled from the start by the Gophers' defense. Minnesota stresses team defense with active rotations and an emphasis on forcing turnovers. The Lady Griz had 16 turnovers in the game Montana hit just 3 of 12 shots in the first quarter in spotting the hosts a gaudy 29-7 lead. Minnesota was 9 for 19 with two triples. The Gophers stretched their lead to 52-22 by halftime. The Lady Griz were 7 for 23 from the floor. Mack Konig and Adria Lincoln were bright spots with nine points apiece in the first 20 minutes. Minnesota continued to add to its lead in the second half. The Gophers led by as many as 40 points in the fourth quarter before settling for their 39-point victory. Montana's seven points in first quarter were a season low. The Lady Griz had the same total in the fourth frame. Bill Speltz is Missoulian sports editor. Contact him at bill.speltz@406mtsports.com or on Twitter @billspeltz Be the first to know Get local news delivered to your inbox! Sports Editor {{description}} Email notifications are only sent once a day, and only if there are new matching items.
The Browns have no good options when it comes to the final two years of quarterback Deshaun Watson’s fully-guaranteed contract. And so they’re whipping up a batch of salary-cap chicken salad. PFT has confirmed multiple reports that the Browns and Watson have agreed to terms on a restructuring. The news terms, however, aren’t what others have characterized them to be. The Watson contract already gave the Browns the right to convert a portion of his $46 million base salary into a guaranteed payment. At some point, the Browns likely will do just that, dropping his 2025 cap number from $72.935 million. The new terms in the latest deal include a $200 million 2029 salary that becomes fully guaranteed if he’s on the roster on the third day of the 2027 league year. The Browns are expected to use the post-June 1 designation to release Watson on the first day of the 2027 league year, splitting his final cap charges into 2027 and 2028. The move costs Watson nothing and it helps the Browns create cap space that can be used while he’s still on the team. It also qualifies him from injury protection under the CBA for 2027 and 2028. The revised deal essentially guarantees that Watson will remain with the Browns through 2026. But that was always happening. They owe him $46 million in each of the next two seasons. The cap consequences of cutting him would be massive. The real question is whether he’ll be the starter in 2025. While they have to pay him, they don’t have to play him. And if the Browns play him, the fans might not want to pay for tickets to watch the games.TSM Share Price in Taiwan: A Gamer’s Investment Opportunity?
Gap Inc. Logo (PRNewsfoto/Gap Inc.) Net sales increased 2% versus last year with comparable sales up 1% Operating margin of 9.3% improved 270 basis points versus last year Market share gains across all brands in the quarter Raises outlook for fiscal 2024 net sales, gross margin and operating income growth SAN FRANCISCO , Nov. 21, 2024 /PRNewswire/ -- Gap Inc. (NYSE: GAP), the largest specialty apparel company in the U.S. and a house of iconic brands including Old Navy, Gap, Banana Republic, and Athleta, today reported financial results for its third quarter ended November 2, 2024. "I'm proud that Gap Inc. delivered another successful quarter, growing net sales for the 4 th consecutive quarter and gaining market share across all brands while meaningfully expanding operating margin," said President and Chief Executive Officer, Richard Dickson . "Consistent execution of our strategic priorities, including the rigor and repetition we're applying to our brand reinvigoration playbook, is making us a stronger company and demonstrates our continued progress in unlocking Gap Inc.'s full potential." Dickson continued: "Holiday is off to a strong start and we remain focused on executing with excellence in the fourth quarter. Our performance year-to-date gives us the confidence to raise our full year outlook for sales, gross margin and operating income growth." Third Quarter Fiscal 2024 – Financial Results Balance Sheet and Cash Flow Highlights Additional information regarding free cash flow, which is a non-GAAP financial measure, is provided at the end of this press release along with a reconciliation of this measure from the most directly comparable GAAP financial measure for the applicable period. Third Quarter Fiscal 2024 – Global Brand Results Comparable Sales Old Navy: Gap: Banana Republic: Athleta: Fiscal 2024 Outlook As a result of its strong third quarter results, the company is raising its full year outlook for net sales, gross margin and operating income growth compared to prior expectations. Please note that the company's projected full year fiscal 2024 operating income growth below is provided in comparison to its full year fiscal 2023 adjusted operating income, which excludes $93 million in restructuring costs and a $47 million gain on sale of a building. Full Year Fiscal 2024 Webcast and Conference Call Information Whitney Notaro , Head of Investor Relations at Gap Inc., will host a conference call to review the company's third quarter fiscal 2024 results beginning at approximately 2:00 p.m. Pacific Time today. Ms. Notaro will be joined by President and Chief Executive Officer, Richard Dickson and Chief Financial Officer, Katrina O'Connell . A live webcast of the conference call and accompanying materials will be available online at investors.gapinc.com . A replay of the webcast will be available at the same location. Non-GAAP Disclosure This press release and related conference call include financial measures that have not been calculated in accordance with U.S. generally accepted accounting principles (GAAP) and are therefore referred to as non-GAAP financial measures. The non-GAAP measures described below are intended to provide investors with additional useful information about the company's financial performance, to enhance the overall understanding of its past performance and future prospects, and to allow for greater transparency with respect to important metrics used by management for financial and operating decision-making. The company presents these non-GAAP financial measures to assist investors in seeing its financial performance from management's view and because it believes they provide an additional tool for investors to use in computing the company's core financial performance over multiple periods with other companies in its industry. Additional information regarding the intended use of non-GAAP measures included in this press release and related conference call is provided in the tables to this press release. The non-GAAP measures included in this press release and related conference call are adjusted operating expense/adjusted SG&A, adjusted operating income, adjusted operating margin, adjusted diluted earnings per share, and free cash flow. These non-GAAP measures exclude the impact of certain items that are set forth in the tables to this press release. In addition, the company's outlook includes projected full year fiscal 2024 operating income growth compared to its full year fiscal 2023 adjusted operating income. The non-GAAP measures used by the company should not be considered as a substitute for, or superior to, measures of financial performance prepared in accordance with GAAP and may not be the same as similarly titled measures used by other companies due to possible differences in method and in items or events being adjusted. The company urges investors to review the reconciliation of non-GAAP financial measures to the most directly comparable GAAP financial measures included in the tables to this press release below, and not to rely on any single financial measure to evaluate its business. The non-GAAP financial measures used by the company have limitations in their usefulness to investors because they have no standardized meaning prescribed by GAAP and are not prepared under any comprehensive set of accounting rules or principles. Forward-Looking Statements This press release and related conference call and accompanying materials contain forward-looking statements within the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. All statements other than those that are purely historical are forward-looking statements. Words such as "expect," "anticipate," "believe," "estimate," "intend," "plan," "project," and similar expressions also identify forward-looking statements. Forward-looking statements include statements regarding the following: becoming a high performing company; unlocking Gap Inc.'s potential; our four strategic priorities, including maintaining and delivering financial and operational rigor, the reinvigoration of our brands, strengthening our operating platform, and energizing our culture; driving relevance and revenue by executing on our brand reinvigoration playbook; expectations for Old Navy for the holiday season; accelerating Old Navy's presence in the Active category; Old Navy's holiday activations and product; reigniting Gap brand's leadership in trend-right products and creative expression through big ideas and culturally relevant messaging; reestablishing Banana Republic to thrive in the premium lifestyle space; evolving Banana Republic's assortment and fit; continuing to fix the fundamentals at Banana Republic; Banana Republic's holiday product; Athleta's trajectory; Athleta's holiday product; enhancing Athleta's in-store and online experiences; driving high-performance across our teams; executing with excellence; Gap Inc.'s positioning going into the holiday season; expectations for our full year performance; expected year-end inventory levels; expected full year fiscal 2024 net sales; the expected impact of the loss of the 53rd week on full year fiscal 2024 net sales; expected fourth quarter fiscal 2024 net sales; the expected impacts of the loss of the 53rd week and the weekly calendar shift on fourth quarter fiscal 2024 net sales; expected full year fiscal 2024 gross margin; the expected impacts of commodity costs and better inventory management on full year fiscal 2024 gross margin; expected full year fiscal 2024 ROD; expected fourth quarter fiscal 2024 gross margin; the expected impact of the loss of the 53rd week on fourth quarter fiscal 2024 gross margin; expected full year fiscal 2024 SG&A/operating expense; continuing cost discipline and unlocking more efficiencies in the business; expected full year fiscal 2024 operating income; expected full year fiscal 2024 effective tax rate; expected full year fiscal 2024 capital expenditures; generating sustainable, profitable growth and delivering long-term shareholder value; and our dividend policy. Because these forward-looking statements involve risks and uncertainties, there are important factors that could cause our actual results to differ materially from those in the forward-looking statements. These factors include, without limitation, the following risks, any of which could have an adverse effect on our business, financial condition, results of operations, or reputation: the overall global economic and geopolitical environment, including the ongoing Russia - Ukraine and Israel-Hamas conflicts and recent elections in the United States , and impacts on consumer spending patterns; social and political unrest in our sourcing countries, including Bangladesh , and disruptions to global trade and shipping capacity, including in the Red Sea; the risk that we or our franchisees may be unsuccessful in gauging apparel trends and changing consumer preferences or responding with sufficient lead time; the highly competitive nature of our business in the United States and internationally; the risk that we may be unable to manage our inventory effectively and the resulting impact on our gross margins and sales; the risk that our investments in customer, digital, and omni-channel shopping initiatives may not deliver the results we anticipate; the risk that we fail to maintain, enhance, and protect our brand image and reputation; the risk of loss or theft of assets, including inventory shortage; the risk that we fail to manage key executive succession and retention or continue to attract qualified personnel; reductions in income and cash flow from our credit card arrangement related to our private label and co-branded credit cards; the risk that changes in our business strategy or restructuring our operations may not generate the intended benefits or projected cost savings; the risk that trade matters could increase the cost or reduce the supply of apparel available to us; the risks to our business, including our costs and global supply chain, associated with global sourcing and manufacturing; the risks to our reputation or operations associated with importing merchandise from foreign countries, including failure of our vendors to adhere to our Code of Vendor Conduct; the risk that we or our franchisees may be unsuccessful in identifying, negotiating, and securing new store locations and renewing, modifying, or terminating leases for existing store locations effectively; engaging in or seeking to engage in strategic transactions that are subject to various risks and uncertainties; the risk that our efforts to expand internationally may not be successful; the risk that our franchisees and licensees could impair the value of our brands; the risk of data or other security breaches or vulnerabilities that may result in increased costs, violations of law, significant legal and financial exposure, and a loss of confidence in our security measures; the risk that failures of, or updates or changes to, our IT systems may disrupt our operations; the risk that our comparable sales and margins may experience fluctuations, that we may fail to meet financial market expectations, or that the seasonality of our business may experience fluctuations; the risk of foreign currency exchange rate fluctuations; the risk that our level of indebtedness may impact our ability to operate and expand our business; the risk that we and our subsidiaries may be unable to meet our obligations under our indebtedness agreements; the risk that changes in our credit profile or deterioration in market conditions may limit our access to the capital markets; natural disasters, public health crises (such as pandemics and epidemics), political crises (such as the ongoing Russia - Ukraine and Israel-Hamas conflicts), negative global climate patterns, or other catastrophic events; evolving regulations and expectations with respect to ESG matters, including climate reporting; the adverse effects of climate change on our operations and those of our franchisees, vendors, and other business partners; our failure to comply with applicable laws and regulations and changes in the regulatory or administrative landscape; the risk that we will not be successful in defending various proceedings, lawsuits, disputes, and claims; the risk that our estimates and assumptions used when preparing our financial information are inaccurate or may change; the risk that changes in the geographic mix and level of income or losses, the expected or actual outcome of audits, changes in deferred tax valuation allowances, and new legislation could impact our effective tax rate, or that we may be required to pay amounts in excess of established tax liabilities; the risk that changes in our business structure, our performance or our industry could result in reductions in our pre-tax income or utilization of existing tax carryforwards in future periods, and require additional deferred tax valuation allowances; the risk that the adoption of new accounting pronouncements will impact future results; and the risk that additional information may arise during our close process or as a result of subsequent events that would require us to make adjustments to our financial information. Additional information regarding factors that could cause results to differ can be found in our Annual Report on Form 10-K filed with the Securities and Exchange Commission on March 19, 2024 , as well as our subsequent filings with the Securities and Exchange Commission. These forward-looking statements are based on information as of November 21, 2024 . We assume no obligation to publicly update or revise our forward-looking statements even if experience or future changes make it clear that any projected results expressed or implied therein will not be realized. About Gap Inc. Gap Inc., a house of iconic brands, is the largest specialty apparel company in America. Its Old Navy , Gap , Banana Republic , and Athleta brands offer clothing, accessories, and lifestyle products for men, women and children. Since 1969, Gap Inc. has created products and experiences that shape culture, while doing right by employees, communities and the planet. Gap Inc. products are available worldwide through company-operated stores, franchise stores, and e-commerce sites. Fiscal year 2023 net sales were $14.9 billion . For more information, please visit www.gapinc.com . Investor Relations Contact: Nina Bari Investor_relations@gap.com Media Relations Contact: Megan Foote Press@gap.com