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‘Christmas Light Fight’ Host Carter Oosterhouse on Holiday Traditions, Marriage to Amy Smart & More

FDA Grants IDE Approval for the Pivotal Trial of the JuxtaFlow® Renal Assist Device (RAD)JEDDAH, Saudi Arabia (AP) — “My Driver and I” was supposed to be made in 2016, but was scuttled amid Saudi Arabia's decades-long cinema ban. Eight years later, the landscape for film in the kingdom looks much different — and the star of “My Driver and I” now has an award. Roula Dakheelallah was named the winner of the Chopard Emerging Saudi Talent award at the Red Sea International Film Festival on Thursday. The award — and the glitzy festival itself — is a sign of Saudi Arabia's commitment to shaping a new film industry. “My heart is attached to cinema and art; I have always dreamed of a moment like this,” Dakheelallah, who still works a 9-5 job, told The Associated Press before the awards ceremony. “I used to work in voluntary films and help my friends in the field, but this is my first big role in a film.” The reopening of cinemas in 2018 marked a cultural turning point for Saudi Arabia, an absolute monarchy that had instituted the ban 35 years before, under the influence of ultraconservative religious authorities. It has since invested heavily in a native film industry by building theaters and launching programs to support local filmmakers through grants and training. The Red Sea International Film Festival was launched just a year later, part of an attempt to expand Saudi influence into films, gaming, sports and other cultural fields. Activists have decried the investments as whitewashing the kingdom’s human rights record as it tightly controls speech and remains one of the world’s top executioners. With FIFA awarding the 2034 World Cup to Saudi Arabia this week, Lina al-Hathloul, a Saudi activist with the London-based rights group ALQST, said Crown Prince Mohammad bin Salman “has really managed to create this bubble where people only see entertainment and they don’t see the reality on the ground.” These efforts are part of Vision 2030, an ambitious reform plan unveiled in 2016 to ease the economy's dependence on oil. As part of it, Saudi Arabia plans to construct 350 cinemas with over 2,500 movie screens — by this past April, across 22 cities, it already had 66 cinemas showing movies from the local film industry, as well as Hollywood and Bollywood. (The Red Sea International Film Festival attracts a host of talent from the latter industries, with Viola Davis and Priyanka Chopra Jonas also picking up awards Thursday.) The country's General Entertainment Authority last month opened Al Hisn Studios on the outskirts of Riyadh. As one of the largest such production hubs in the Middle East, it not only includes several film studios but also a production village with workshops for carpentry, blacksmithing and fashion tailoring. “These facilities, when they exist, will stimulate filmmakers,” said Saudi actor Mohammed Elshehri. “Today, no writer or director has an excuse to imagine and say, ‘I cannot implement my imagination.’” The facilities are one part of the equation — the content itself is another. One of the major players in transforming Saudi filmmaking has been Telfaz11, a media company founded in 2011 that began as a YouTube channel and quickly became a trailblazer. Producing high-quality digital content such as short films, comedy sketches and series, Telfaz11 offered fresh perspectives on Saudi and regional issues. In 2020, Telfaz11 signed a partnership with Netflix to produce original content for the streaming giant. The result has been movies that demonstrate an evolution on the storytelling level, tackling topics that were once off-limits and sensitive to the public like secret nightlife in “Mandoob” (“Night Courier”) and changing social norms in “Naga.” “I think we tell our stories in a very simple way, and that’s what reaches the world,” Elshehri says of the changing shift. “When you tell your story in a natural way without any affectation, it will reach every person.” But the films were not without their critics, drawing mixed reaction. Social media discoursed ranged from pleasure that Saudi film were tackling such topics to anger over how the films reflected conservative society. As Hana Al-Omair, a Saudi writer and director, points out, there are still many stories left untold. “We certainly have a long time ahead of us before we can tell the Saudi narrative as it should be,” she said, acknowledging that there are still barriers and rampant censorship. “The Goat Life,” a Malayalam-language movie about an Indian man forced to work without pay in Saudi Arabia, is not available on Netflix's platform in the country. Movies that explore political topics or LGBTQ+ stories are essentially out of the question. Even “My Driver and I,” featured at the Red Sea festival alongside 11 other Saudi feature-length films, was initially too controversial. It centers on a Sudanese man in Jeddah, living away from his own daughter, who feels responsible for the girl he drives as her parents are absent. It was initially blocked from being made because of the relationship between the girl and the driver, filmmaker Ahd Kamel has said, even though it's not a romantic relationship. Now in 2024, the film is a success story — a symbol of the Saudi film industry's evolution as well as the growing role of women like Kamel behind the camera and Dakheelallah in front of it. “I see the change in Saudi cinema, a very beautiful change and it is moving at a wonderful speed. In my opinion, we do not need to rush,” Dakheelallah said. “We need to guide the truth of the artistic movement that is happening in Saudi Arabia.”Cowboys win wild one vs. Commanders to halt five-game slide

FDA Grants IDE Approval for the Pivotal Trial of the JuxtaFlow® Renal Assist Device (RAD)TORONTO — Canada's main stock index fell more than 100 points Friday, led by losses in base metal and telecom stocks, while U.S. stock markets were mixed ahead of next week's interest rate decision from the U.S. Federal Reserve. This week, the Bank of Canada announced another outsized interest rate cut of half a percentage point while also signalling it plans to slow the pace of cuts going forward. Allan Small, senior investment adviser at iA Private Wealth, said the central bank is juggling a lot of balls heading into the new year, including a faltering economy, a housing market that’s poised to heat up, and a U.S. Fed likely to cut much slower next year. “If (the Bank of Canada) continues to cut when the U.S. doesn’t, where does that leave our dollar?” asked Small. “They’re flying by the seat of their pants.” The S&P/TSX composite index closed down 136.41 points at 25,274.30. In New York, the Dow Jones industrial average was down 86.06 points at 43,828.06. The S&P 500 index was down 0.16 points at 6,051.09, while the Nasdaq composite was up 23.88 points at 19,926.72. The Fed has done a better job of tamping down inflation while not harming the economy too much, said Small. The Fed is expected to cut by a quarter-percentage point next week, and its path is clearer than the Bank of Canada’s, said Small. “I don’t think they have much room to cut more,” he said, noting this week saw U.S. inflation data tick up from the month before. “Most people think they’ll go 25 (basis points) and pause for a little while,” said Small. “Would I be surprised to see them not cut at all? No, but I think the market would take that negatively.” Heading into the last few weeks of the year, Small said if there’s a so-called Santa Claus rally, it may be more muted than usual. “It's quite possible we've taken some gains that we normally would have had in December, brought them forward into November, and now December might not be as strong as we normally see,” he said. On Wall St., the Nasdaq did a little better than its U.S. peers as semiconductor company Broadcom saw its stock gain more than 24 per cent after reporting earnings. “I think the commentary on the conference call really caused the stock to shoot up," said Small. The company gave a bright forecast for investors on the back of expected growth in artificial intelligence. This week, Broadcom and Apple also announced a deal to develop a chip for AI. The Canadian dollar traded for 70.27 cents US compared with 70.48 cents US on Thursday. The January crude oil contract was up US$1.27 at US$71.29 per barrel and the January natural gas contract was down 18 cents at US$3.28 per mmBTU. The February gold contract was down US$33.60 at US$2,675.80 an ounce and the March copper contract was down five cents at US$4.15 a pound. — With files from The Associated Press This report by The Canadian Press was first published Dec. 13, 2024. Companies in this story: (TSX:GSPTSE, TSX:CADUSD) Rosa Saba, The Canadian PressSACRAMENTO, Calif. , Dec. 19, 2024 /PRNewswire/ -- Reviver ® is proud to support the Winter Fest SoCal Car Show and Toy Drive, bringing joy to children and families in need. This past weekend, the Winter Fest SoCal Car Show and Toy Drive in Pomona, California , brought together car enthusiasts from across Southern California to celebrate the holidays and of course, all things cars. Attendees celebrated the season by decking out their cars, motorcycles and trucks, and supporting a good cause. This year's Winter Fest supported the Community Family Guidance Center (CFGC). CFGC helps southeast Los Angeles County's under-served children and their families heal from trauma, abuse, emotional, behavioral and mental health issues through proven interventions and compassionate guidance. "We're proud to partner with our community and fellow auto enthusiasts to make the holidays brighter for those who need it most," said Reviver Founder and Chief Strategy Officer Neville Boston . "Together, we can help create joy and ensure that every child experiences the magic of the season." If you missed Winter Fest or are not local to Los Angeles County , there are still many ways to give back. Reviver is inviting the community to join in spreading holiday cheer wherever they are by supporting a local toy drive . ABOUT REVIVER ® Reviver ® is a technology company on a mission to modernize the driving experience. As developer of the world's first digital license plate platform, Reviver products transform the license plate into a connected vehicle platform, enabling consumers and commercial businesses to digitize vehicle registration renewals and experience a growing set of personalization, convenience, and safety features, all managed through a mobile or web app interface. Reviver's digital license plates are legal for sale in Arizona and California , along with Texas for commercial fleet vehicles. Ten additional states are in various stages of adoption. Founded in 2009, Reviver is headquartered in Northern California , and is the official patch partner of the Sacramento Kings and the official innovation partner of the Sacramento Kings and Golden 1 Center. To purchase an RPLATE click here . To learn more about the RPLATE, click here . View original content to download multimedia: https://www.prnewswire.com/news-releases/reviver-helps-drive-the-spirit-of-giving-this-holiday-season-302336678.html SOURCE Reviver

The Salvation Army and Supporters Show That Everyday Generosity Can Make a Change for 27 Million People in America

Federal prosecutors link Lil Durk to 2022 Chicago murder ahead of detention hearingWelcome to the online version of From the Politics Desk , an evening newsletter that brings you the NBC News Politics team’s latest reporting and analysis from the White House, Capitol Hill and the campaign trail. In today’s edition, senior White House reporter Peter Nicholas examines how Donald Trump is overshadowing the final weeks of Joe Biden's presidency. Plus, we dive into what Kamala Harris and Trump campaigns spent their cash on in the closing days of the 2024 race. Sign up to receive this newsletter in your inbox every weekday here. Trump isn’t president yet, but that hasn’t stopped him from starting to act like he is By Peter Nicholas Foreign leaders have lined up to speak with him. He has rattled Mexico and Canada with threats of steep tariffs and warned there would be “hell to pay” for militants in Gaza unless they release the hostages by the time he’s sworn in. That won’t happen for another 45 days, but Donald Trump, the president-in-waiting, isn’t shying away from acting like the president-in-reality. Trump can’t sign a bill or issue an executive order yet, but he is crowding out Joe Biden as the sitting president winds down his term and steadily recedes from public view. In two foreign trips since the election, Biden has answered all of two questions from reporters. He has been left to kibitz about Trump’s pronouncements — “ I hope he rethinks it ,” he said of Trump’s plan to impose 25% tariffs on Canada and Mexico — rather than drive an agenda of his own. As for Trump, “his view is that he’s not going to follow rules that he thinks are stupid rules,” said a former senior White House official in Trump’s first term. “His view is these are hostages and if he can help bring them home, then why would he follow protocol if it’s going to impact peoples’ lives?” At this point, Trump is “already basically running things, and he’s not even president yet,” the person added. Trump’s penchant for plunging into current affairs is testing the one-at-a-time dictum that presidents are supposed to honor but, for reasons of political expediency or practical necessity, usually don’t. This weekend, Trump will join French President Emmanuel Macron in Paris for the reopening of Notre Dame Cathedral five years after it was devastated by fire. Biden was invited but opted not to attend, a White House official said. Trump’s return to the world stage after a four-year hiatus, coupled with news about his hires, has overshadowed Biden’s trip to sub-Saharan Africa this week, in which he faced fallout from the sweeping pardon he gave his son Hunter. Read more → How Harris’ campaign spent $277 million in the final weeks By Bridget Bowman, Ben Kamisar and Joe Murphy Despite coming up short in the vote count, Vice President Kamala Harris’ campaign raised and spent roughly twice as much as President-elect Trump in the final days of the 2024 election and the weeks that followed, new campaign finance reports show. The Harris campaign raised $160 million and spent $277 million from Oct. 25 through Nov. 25, the period covered by the latest reports filed with the Federal Election Commission, while the Trump campaign pulled in $87 million and spent $113 million over that time. The largest shares of both campaigns’ spending went to media buys and ad production, with the Harris campaign spending $129 million to Trump’s $95.1 million, according to an analysis of expenditures in the new filings. The Harris campaign spent much more than Trump’s on directly contacting voters, reporting a combined $25.4 million on text message outreach, canvassing, phone calls and direct mail. Trump’s campaign spent $3 million on “SMS advertising” and just $1,500 on direct mail printing and posting, underscoring how the campaign outsourced much of its field operation to other groups. Harris’ campaign also spent a much larger share of its funds on events, racking up at least $45.5 million in payments (17% of its total operating expenses in this report) to pay for event production, audio and visual services, equipment rental, supplies and event security. The Trump campaign, meanwhile, reported spending $632,000, or less than 1% of its operating expenditures, on events. The Harris campaign paid $165,000 to a production company affiliated with Beyoncé Knowles-Carter, who spoke at a late October rally in Houston . Companies affiliated with musicians Katy Perry, Ricky Martin and Christina Aguilera (all three of whom appeared at Harris events in the closing weeks of the campaign) received six-figure payments as well. And others affiliated with musicians like Bruce Springsteen, John Legend and Jason Isbell received smaller checks, too. The celebrities themselves were not paid, a campaign official previously told NBC News , but the campaign had to pay for costs associated with production and their travel. Campaign finance laws dictate that campaigns have to pay market value for anything they receive, including entertainment at events. Read more → 💲 More number crunching: The new campaign finance reports also revealed that billionaire Elon Musk poured more than $20 million into a mysterious super PAC at the end of the campaign, part of more than $250 million he spent overall to boost Trump. Read more → That’s all from the Politics Desk for now. If you have feedback — likes or dislikes — email us at politicsnewsletter@nbcuni.com And if you’re a fan, please share with everyone and anyone. They can sign up here .

Hou_Stover 19 pass from Stroud (Fairbairn kick), 14:42. Ten_FG Folk 51, 11:15. Ten_Westbrook-Ikhine 38 pass from Levis (Folk kick), 1:57. Ten_Pollard 10 run (Folk kick), 11:03. Hou_Collins 5 pass from Stroud (Fairbairn kick), 6:17. Hou_FG Fairbairn 28, 1:47. Ten_FG Folk 56, :00. Ten_FG Folk 51, 9:08. Hou_Ward 65 interception return (Fairbairn kick), :04. Hou_FG Fairbairn 54, 9:46. Ten_Okonkwo 70 pass from Levis (Folk kick), 9:35. Ten_safety, 1:13. A_71,055. RUSHING_Tennessee, Pollard 24-119, Levis 8-10, Chestnut 1-3. Houston, Mixon 14-22, Stroud 3-18. PASSING_Tennessee, Levis 18-24-1-278, Boyd 0-1-0-0. Houston, Stroud 20-33-2-247. RECEIVING_Tennessee, Boyd 6-55, Ridley 5-93, Pollard 3-10, Westbrook-Ikhine 2-48, Okonkwo 1-70, Chestnut 1-2. Houston, Collins 5-92, Mixon 5-23, Dell 3-72, Stover 3-26, Schultz 2-20, Woods 1-8, Metchie 1-6. MISSED FIELD GOALS_Houston, Fairbairn 28.Revolutionizing Modern Construction Design with Lightweight Steel Interiors

President-elect Donald Trump is set to triumphantly return to the international stage Saturday when he attends the re-opening of the Notre Dame Cathedral in Paris along with other world leaders. Trump will be joined at the highly anticipated event by such global bigs as French President Emmanuel Macron, Ukrainian leader Volodymyr Zelensky and Britain’s Prince William. President Biden is not attending the ceremony, instead sending his wife Jill to represent the US. Zelensky officially plans to meet with Macron – a staunch ally of Ukraine in its war with Russia — during his visit, but “other meetings are also possible [for the Ukrainian leader], in particular with President-elect Donald Trump,” a Ukrainian source told AFP. Such a meeting would make the gathering for the cathedral’s reopening a de facto diplomatic summit in a period of extreme tension between NATO and Russia over the Ukraine war. The guest list for the famed cathedral’s re-opening ceremony — which will feature music from world-renowned musicians and the blessing of its grand organ — also will include the heads of state of Germany Italy, Poland, Bulgaria and Lithuania, Le Monde said. Prince William will be joined by other royals at the event including King Felipe VI of Spain and likely the king and queen of Belgium, reports said. All of the world leaders will have an opportunity to cozy up to Trump, the soon-to-be leader of the free world. Trump has called the cathedral “one of the great treasures of the world” and lamented the devastating fire that ravaged the historic landmark in 2019. The blaze is suspected of being caused by faulty electrical wiring or even a smoldering cigarette from a worker. He has praised Macron for leading its restoration effort, which was completed with astonishing speed thanks to the efforts of more than 2,000 workers including many craftsmen. “President Emmanuel Macron has done a wonderful job ensuring that Notre Dame has been restored to its full level of glory, and even more so,” the president-elect wrote on Truth Social. Macron was one of the first foreign leaders to congratulate Trump on his election victory, posting on X that he was “ready to work together as we did for four years. “With your convictions and mine. With respect and ambition. For more peace and prosperity,” Macron wrote, addressing Trump. Macron’s office also called Trump on the phone soon after he clinched the election win. On Saturday, the pair will have a chance to meet face-to-face along with the hoards of other political leaders. “It will be a very special day for us all!” Trump wrote.NoneEx-Colorado footballer Bloom dedicates time to fulfilling wishes for older adultsMan faces vehicular homicide charge after fatal crash near Bigfork

Cooper Rush passed for two touchdowns, Dallas returned two kicks for scores and the visiting Cowboys held off the Washington Commanders in a wild fourth quarter for a 34-26 win. Dallas led 10-9 after three quarters. With Washington trailing 27-26, Jayden Daniels hit Terry McLaurin for an 86-yard touchdown pass with 21 seconds left, but Austin Seibert missed his second extra point of the game. Juanyeh Thomas of the Cowboys then returned the onside kick 43 yards for a touchdown. Rush completed 24 of 32 passes for 247 yards for Dallas (4-7), which snapped a five-game losing streak. Rico Dowdle ran 19 times for 86 yards and CeeDee Lamb had 10 catches for 67 yards. Jayden Daniels was 25-of-38 passing for 274 yards, two touchdowns and two interceptions for reeling Washington (7-5), which has lost three straight. He ran for 74 yards and one score. McLaurin had five catches for 102 yards. Trailing 20-9 late in the fourth quarter, Daniels drove Washington 69 yards in nine plays and hit Zach Ertz for a 4-yard touchdown. Daniels ran for two points and Washington trailed 20-17 with 3:02 remaining. KaVontae Turpin muffed the ensuing kickoff, picked it up at the one, and raced 99 yards for a touchdown to make it 27-17. Austin Seibert's 51-yard field goal pulled the Commanders within 27-20 with 1:40 left, With the score tied 3-3, Washington took the second half kick and went 60 yards in 10 plays. On third-and-three from the Dallas 17, Daniels faked a handoff, ran left and scored his first rushing touchdown since Week 4. Seibert missed the point after and Washington led 9-3. Dallas answered with an 80-yard drive. A 23-yard pass interference penalty gave the Cowboys a first-and-goal at the 4. Two plays later Rush found Jalen Tolbert in the end zone and the extra point made it 10-9. Brandon Aubrey's 48-yard field goal made it 13-9 with 8:11 remaining in the game. On the next play, Daniels hit John Bates for 14 yards, but Donovan Wilson forced a fumble and Dallas recovered at the Washington 44. Five plays later, Rush found Luke Schoonmaker down the middle for a 22-yard touchdown and Dallas led 20-9 with 5:16 left. The first quarter was all about field goals. Aubrey's field goal attempt was blocked on the opening drive and Michael Davis returned it to the Dallas 40. Washington later settled for Seibert's 41-yard field goal. On the next Dallas drive, Aubrey hit the right upright from 42 yards out, and then Seibert missed from 51 yards. With 14 seconds left in the half, Rush found Jalen Brooks for a 41-yard gain to the Washington 28. On the next play Aubrey connected from 46 yards to tie it. --Field Level MediaAmy Webber (Executive of the Year), Colleen Bell (Luminaries With a Heart), Jeff Vivacqua (Thought Leader of the Year) earn victories at 2024 ThinkAdvisor Luminaries awards in Las Vegas FAIRFIELD, Iowa , Dec. 13, 2024 /PRNewswire/ -- Cambridge , a leading independent financial solutions firm serving 3,800 financial professionals across the country, won multiple awards at the 2024 ThinkAdvisor Luminaries Awards Dinner and Gala held in Las Vegas, Nevada earlier this week. The firm entered the night with six finalists , with CEO and Co-Chairman of the Board Amy Webber (Executive of the Year), President of Innovation and Experience Colleen Bell (Luminaries With a Heart), and Jeff Vivacqua (Thought Leader of the Year) earning award wins in their respective categories. Now in its fourth year, the Luminaries recognize individuals and firms making a measurable impact on advisors, clients, and the financial services industry at large. Hundreds of nominations were received from firms around the industry, and winners were selected by an independent judging panel consisting of 19 high-ranking industry professionals that evaluated finalists based on quantitative and qualitative results. A complete list of winners is available here . Webber won the Executive of the Year award, which honors an individual who has gone above and beyond in leading a firm that has recently demonstrated strong client service, innovation (in programs, products and/or services) or other success, and who serves as a model of industry excellence, which includes work on growing results as measured by revenues, assets, advisor headcount, etc. Webber joined Cambridge in 1998, and her leadership has led to Cambridge being one of the most respected, innovative, and fastest growing financial solutions firms. Webber served as a member of the FINRA Board of Governors as the Independent Dealer/Insurance Affiliate Governor from 2017-2021. She served on the Financial Services Institute (FSI) Board of Directors from 2014-2017, serving as chair in 2016, and was re-elected to the Board in 2022. Also in 2022, Webber was honored with the InvestmentNews Women to Watch Alexandra Armstrong Lifetime Achievement award for the impact she's made on the financial services industry and community over her career.1 Bell won the Luminaries With a Heart award, which was open to individuals who have gone above and beyond in their work in philanthropy, corporate social responsibility, diversity, equity, and inclusion (DEI), and other empowering endeavors. Bell joined Cambridge in 2006 following her experience as a securities examiner and auditor with the Securities and Exchange Commission and is now a member of the firm's 'Office of the CEO' and Board of Directors. One of just two women on the firm's Board of Directors, Bell actively contributes to the growing inclusivity movement at Cambridge and the broader financial services industry, leveraging the expertise, insight, and lessons she's accumulated during her career to build a more supportive environment that empowers women to thrive in their roles. She is an Executive Sponsor of Cambridge's Community of Women (CCW) and Commitment to Inclusion Committee. Vivacqua earned the Thought Leader of the Year award, which welcomed nominations from individuals who have proactively shared thought leadership and introduced new frameworks to their segment of financial services. Among many growth-focused efforts, Vivacqua was instrumental in leading the development and launch of a new standalone RIA firm: BridgePort Financial Solutions ("BridgePort") , which launched in January 2024 to support the growth of fee-only RIAs. Passionate about sharing thought leadership and insight with advisors and broad audiences, Vivacqua appears regularly in leading industry publications. Outside of his role at Cambridge , Vivacqua is Chairman of the Board of Directors at Invest in Others , an organization that seeks to amplify the philanthropic efforts of advisors across the country. About Cambridge Cambridge is a financial solutions firm focused on serving independent financial professionals and their clients while preserving its internal control. Cambridge offers a broad range of choices for independent financial professionals regarding solutions for advice, growth, technology, and independence. Cambridge's national reach includes: Cambridge Investment Research Advisors, Inc. – a large corporate RIA; and Cambridge Investment Research, Inc. – an independent broker-dealer, member FINRA/SIPC, that is among the largest internally controlled independent broker-dealers in the country. About ThinkAdvisor ThinkAdvisor provides financial advisors, registered investment advisors and wealth managers with comprehensive coverage of the products, services and information they need to guide their clients in making critical wealth, health and life decisions. Its website showcases advisors adapting and succeeding in new ways, and it translates the impact of industry regulation, dealmaking, and technology into easily digestible, shareable content — so advisors have more time to spend advising clients and running their businesses. ThinkAdvisor LUMINARIES, Class of 2024. Finalists and winners are chosen based on nominations. To learn about the award criteria, visit https://event.thinkadvisor.com/luminaries-awards/criteria . 1 InvestmentNews Magazine, Women to Watch awards recognize women in the industry who have demonstrated success, leadership, ability to effect change, and a willingness to help other female financial professionals and community service. Winners are selected by an InvestmentNews selection committee. For more information on the awards, nomination requirements, and selection process, visit https://www.investmentnews.com/awards-and-recognition/women-to-watch-2022 Contact: Jeff Wulf , Senior Vice President, Cambridge [email protected] or 800-777-6080 SOURCE CambridgeIn a desperate push for relevancy, has chosen Donald Trump as its Person of the Year for 2024. No, really Time? Tell me something I didn't know. Last month, more than chose Trump as their president, including me. For the past decade, he's made news either running for president or serving as president. Trump isn't just the Person of the Year. He's the man of the hour and the month. : We all just live in it, including Joe Biden, Kamala Harris and Time magazine. The magazine's lengthy profile of the once and future president recognizes that " ," and that he "beat not one but two Democratic opponents, swept all seven swing states, and became the ." But with cynicism and leftism on their side, the article's authors cast doubt on America's choice. Much of the profile questions Trump's tactics, staff and history. "Whether Trump can actually fix the root causes of Americans’ anger is another question. ... He will also see just how far the nation is willing to let him go," the article notes. "If he succeeds, he could reshape the country. Along the way, he that have seen America’s great experiment in democracy through 2 1⁄2 centuries." I'm also cynical about Trump, and I'm a Republican. But if I hear the phrase "constitutional norms" applied to Trump one more time without mentioning the many norms that Biden, Harris and the Democratic Party tore to shreds this year, I'm going to cast Time magazine into the abyss of irrelevance once and for all. Time is trying to capitalize on Trump just like he has used them to feel charismatic, powerful and good about himself. (He's my president-elect, sure, but he's still a glutton for showboating, y'all.) The relationship between the news media and Trump is a toxic circle of self-interests. Time's editors wax eloquently about why they chose Trump as their Person of the Year. In addition to the main profile, there's a , and another article each time the magazine has featured Trump on the cover. Time has put Trump on the cover 43 times. That's more than Bill Clinton (40 times) and Barack Obama (31 times). And Trump hasn't even started his second term. The latest cover portrays Trump as stoic and powerful. But the magazine also has often portrayed him negatively. He was shown, for example, as a man . In October 2016, the magazine portrayed Trump as a . That cover image was published only days before Americans elected Trump as their president the first time. (Talk about missing the real story.) Sign up for our newsletter on conservative values, family and religion from columnist Nicole Russell. . Time its obsession with Trump: "In the years that followed, we presented him as a frenetic Twitter user crumbling the Washington monument (March 20, 2017), a punching bag (Oct. 9, 2017), a graphic wrecking ball (Nov. 6, 2017), an angry character with his hair on fire (Jan. 22, 2018), a cross between himself and Vladimir Putin (July 30, 2018), a king looking into a mirror (June 18, 2018), a slingshot-holding fighter dueling with Nancy Pelosi (Jan. 21, 2019), a happy President whistling under an umbrella in the rain (April 8, 2019), and a man who has painted himself into a corner (Oct. 7, 2019)." Is everybody OK over there at Time? Someone should check on them. Even Time magazine must admit that Trump is once again at the center of the news universe. He's again on the cover of a once venerated but now largely irrelevant magazine. And Joe Biden and Kamala Harris are pouting in a corner at the White House. As William Makepeace Thackeray wrote, " ." .

Army-Navy game has added buzzEven in this banner season for military academy football — complete with winning streaks, national rankings and a conference championship — the biggest goal remains the same. For Army: Beat Navy. For Navy: Beat Army. With the college football landscape changing at a furious rate, the significance of this matchup adds a dose of tradition to mid-December, amid all that talk about the transfer portal and the new expanded playoff. "We've had a good year. You make it a great year by winning this game coming up on Saturday. Frankly, that's just the way it goes around here," Army coach Jeff Monken said. "It's a game and a season really all of its own. We don't apologize for talking about it all the time. We talk about it all the time, and it's 365 days a year." Saturday in Landover, Maryland, is the 125th matchup between Army and Navy, and although these two programs are long removed from their days winning national titles and Heisman Trophies, this is a historic moment in the rivalry. The Black Knights and Midshipmen have combined for 19 wins this season, their highest total ever entering this game. Army (11-1) is ranked 19th in the AP poll after beating Tulane last week to win the American Athletic Conference — the first league title of any kind in the team's 134-year history. Navy (8-3) was ranked as well earlier this season after starting with six straight victories. "I knew we were going to be an improved football team," Navy coach Brian Newberry said. "Didn't know exactly what that was going to look like. I think certainly we've improved in a lot of different areas. I'm excited about the season we've had." This was Army's first season in the AAC, putting the Black Knights and Midshipmen in the same league, although their annual matchup is considered a nonconference game. For a while, there was a chance the teams could meet twice, with a conference championship clash coming before the regularly scheduled Army-Navy game, but that didn't happen. Their most prominent common opponent came from outside the league. Notre Dame handed both Navy and Army its first loss, beating the Midshipmen 51-14 and the Black Knights 49-14. Within the AAC, both teams beat Temple, UAB and East Carolina. Army beat Tulane and Rice and Navy lost to those two teams. Army and Navy also each won its nonconference game against Air Force. Those victories over Air Force mean this season's Commander-In-Chief's Trophy comes down to the Army-Navy game. It's the first time since 2017 that both teams enter this game with a shot at the trophy. It's also the first time since 2017 that both teams enter the game with bowl bids secured. Navy faces Oklahoma in the Armed Forces Bowl and Army takes on Marshall in the Independence Bowl. This year's Army-Navy game is at the Washington Commanders' home stadium in Landover. It was also held there in 2011. This is the first time the game has been in Maryland since Baltimore hosted it in 2016. Baltimore is also up next in 2025. Army quarterback Bryson Daily has 29 rushing touchdowns this season, which is tied for the FBS lead with running back Ashton Jeanty, Boise State's Heisman finalist. Only one QB in FBS history has run for more TDs in a season than Daily. That was Navy's Keenan Reynolds, with 31 in 2013. "You come here to play in this game. The biggest stage possible, millions of people watching and a sold-out NFL stadium. It's awesome," Daily said. "None of the games that happened before this matter. We're going into this game like we're 0-0, they're 0-0 because that's just how you have to come into this game." Navy's closest game this season — win or lose — was a 56-44 win over Memphis. The Midshipmen are the only FBS team that hasn't had a game this season decided by eight points or fewer. AP Sports Writer Stephen Whyno contributed to this report. Get local news delivered to your inbox!

TORONTO — Canada's main stock index fell more than 100 points Friday, led by losses in base metal and telecom stocks, while U.S. stock markets were mixed ahead of next week's interest rate decision from the U.S. Federal Reserve. This week, the Bank of Canada announced another outsized interest rate cut of half a percentage point while also signalling it plans to slow the pace of cuts going forward. Allan Small, senior investment adviser at iA Private Wealth, said the central bank is juggling a lot of balls heading into the new year, including a faltering economy, a housing market that’s poised to heat up, and a U.S. Fed likely to cut much slower next year. “If (the Bank of Canada) continues to cut when the U.S. doesn’t, where does that leave our dollar?” asked Small. “They’re flying by the seat of their pants.” The S&P/TSX composite index closed down 136.41 points at 25,274.30. In New York, the Dow Jones industrial average was down 86.06 points at 43,828.06. The S&P 500 index was down 0.16 points at 6,051.09, while the Nasdaq composite was up 23.88 points at 19,926.72. The Fed has done a better job of tamping down inflation while not harming the economy too much, said Small. The Fed is expected to cut by a quarter-percentage point next week, and its path is clearer than the Bank of Canada’s, said Small. “I don’t think they have much room to cut more,” he said, noting this week saw U.S. inflation data tick up from the month before. “Most people think they’ll go 25 (basis points) and pause for a little while,” said Small. “Would I be surprised to see them not cut at all? No, but I think the market would take that negatively.” Heading into the last few weeks of the year, Small said if there’s a so-called Santa Claus rally, it may be more muted than usual. “It's quite possible we've taken some gains that we normally would have had in December, brought them forward into November, and now December might not be as strong as we normally see,” he said. On Wall St., the Nasdaq did a little better than its U.S. peers as semiconductor company Broadcom saw its stock gain more than 24 per cent after reporting earnings. “I think the commentary on the conference call really caused the stock to shoot up," said Small. The company gave a bright forecast for investors on the back of expected growth in artificial intelligence. This week, Broadcom and Apple also announced a deal to develop a chip for AI. The Canadian dollar traded for 70.27 cents US compared with 70.48 cents US on Thursday. The January crude oil contract was up US$1.27 at US$71.29 per barrel and the January natural gas contract was down 18 cents at US$3.28 per mmBTU. The February gold contract was down US$33.60 at US$2,675.80 an ounce and the March copper contract was down five cents at US$4.15 a pound. — With files from The Associated Press This report by The Canadian Press was first published Dec. 13, 2024. Companies in this story: (TSX:GSPTSE, TSX:CADUSD) Rosa Saba, The Canadian PressWhat to know about federal employees who telecommute as DOGE looks to end remote workJulia Wick | (TNS) Los Angeles Times As California politicos look ahead to 2025, the biggest question looming is whether Vice President Kamala Harris — a native daughter, battered just weeks ago by presidential election defeat — will enter the 2026 California governor’s race. Related Articles National Politics | Senate begins final push to expand Social Security benefits for millions of people National Politics | Trump taps immigration hard-liner Kari Lake as head of Voice of America National Politics | Trump invites China’s Xi to his inauguration even as he threatens massive tariffs on Beijing National Politics | Pressure on a veteran and senator shows what’s next for those who oppose Trump National Politics | What Americans think about Hegseth, Gabbard and key Trump Cabinet picks AP-NORC poll Harris has yet to give any public indication on her thoughts and those close to her suggest the governorship is not immediately top of mind. But if Harris does ultimately run — and that’s a massive if — her entrée would seismically reshape the already crowded race for California’s highest office. Recent polling suggests Harris would have a major advantage, with 46% of likely voters saying they were somewhat or very likely to support her for governor in 2026, according to a UC Berkeley Institute of Governmental Studies survey co-sponsored by The Times. “If Vice President Harris were to choose to run, I am certain that that would have a near field-clearing effect on the Democratic side,” Rep. Katie Porter, D-Irvine, said during a recent UC Irvine panel interview . Porter, a high-profile Democrat who has been eyeing the wide-open governor’s race, has yet to say whether she plans to run. Porter’s point was broadly echoed in conversations with nearly a dozen California political operatives and strategists, several of whom requested anonymity to speak candidly. Most speculated that a Harris entry would cause some other candidates in the race to scatter, creating further upheaval in down-ballot races as a roster of ambitious politicians scramble for other opportunities. “In politics, you always let the big dogs eat first,” quipped Democratic political consultant Peter Ragone. The current gubernatorial field is a who’s who of California politicians, but lacks a clear favorite or star with widespread name recognition. The vast majority of California’s 22 million voters have yet to pay attention to the race and have little familiarity with the candidates. The list of Democratic candidates includes Los Angeles’ first Latino mayor in more than a century ( Antonio Villaraigosa ); the first female and first out LGBTQ leader of the state Senate ( Toni Atkins ); the sitting lieutenant governor and first woman to hold that post ( Eleni Kounalakis ); the state superintendent of public instruction ( Tony Thurmond ) and the former state controller ( Betty Yee ). Democratic Gov. Gavin Newsom is serving his second term as California governor, meaning he is ineligible to run again. Several other Democrats, including Porter, outgoing Health and Human Services Director Xavier Becerra and state Atty. Gen. Rob Bonta have also publicly toyed with the idea of a run. They could be less likely to enter the fray should Harris decide to run. What the billionaire mall mogul Rick Caruso — who has also been exploring a run — would choose to do is an open question, as Caruso might contrast himself with Harris as a more centrist candidate. The real estate developer was a registered Republican until November 2019. It’s unlikely that Harris will proffer a public decision in the immediate term, leaving plenty of time for political insiders to game out hypotheticals in the weeks and months to come. Harris’ office did not respond to a request for comment. “I think every candidate for governor is trying to get some kind of intel,” Mike Trujillo, a Los Angeles-based Democratic political consultant and former Villaraigosa staffer, said of a potential Harris run. Trujillo speculated that Harris’ current state was probably similar to Hillary Clinton’s hiking sojourns in the Chappaqua woods after losing to Donald Trump in 2016, or Al Gore growing a beard in the bruising aftermath of his 2000 defeat. “The first thing she’s probably thinking about is, ‘Well, can I run again for president in four years?’ Not, ‘Do I run for governor in two years?’” said one political operative who’s worked with Harris in the past. Harris maintains a home in Brentwood and previously served as California’s senator and attorney general. A successful run for governor in 2026 would almost certainly impede a grab for the presidency in 2028. (Though if history is any guide, an unsuccessful run for California governor does not definitively preclude a bid for the Oval Office: Two years after losing the White House to John F. Kennedy, Richard Nixon lost the 1962 contest for governor to Pat Brown . The Yorba Linda native became the nation’s 37th president in 1969.) As the chief executive of a state that doubles as the world’s fifth-largest economy, Harris would have more power to steer policy and make changes as a California governor than she did as vice president, where her job required deference to President Biden. But leading a state, even the nation’s most populous, could feel like small potatoes after being a heartbeat (and a few dozen electoral votes) from the presidency. The protracted slog to November 2026 would also be a stark contrast to her ill-fated 107-day sprint toward the White House, particularly for a candidate whose 2020 presidential primary campaign was dogged by allegations of infighting and mismanagement. “I don’t think Kamala Harris has a deep psychological need to be governor of California, or to be in elective office in order to feel like she can contribute to society,” said the operative who’s worked with Harris in the past. “I think some of these people do, but she’s somebody who has enough prominence that she could do a lot of big, wonderful things without having to worry about balancing California’s budget or negotiating with Assemblyman Jesse Gabriel,” the Encino Democrat who chairs the Assembly’s budget committee. Technically, Harris has until March 2026 to decide whether she enters a race. But political strategists who spoke to The Times theorized that she probably would make a move by late spring, if she chooses to do so. “People will be more annoyed if she drops in in June,” a Democratic strategist involved with one of the gubernatorial campaigns said. Sending a clear signal by February would be more “courteous,” the strategist continued, explaining that such a move would give candidates more time to potentially enter other races. Kounalakis is a longtime friend and ally of Harris’ , and the vice president also has long-term relationships with some of the other candidates and potential candidates. California has eight statewide elected offices and campaign finance laws allow candidates to fundraise interchangeably for them, meaning money already raised for a candidate’s gubernatorial campaign could easily be redirected should they decide to run for, say, lieutenant governor instead. There are already a number of candidates running for lieutenant governor, including former Stockton Mayor Michael Tubbs, former state Sen. Steven Bradford and former state Treasurer Fiona Ma. But that office probably would see even more interest should Harris enter the gubernatorial race. It’s a largely ceremonial position, but one that has served as a launching pad for the governorship. Still, even if Harris does enter the race, Republican political strategist Mike Murphy threw cold water on the idea that she would have an automatic glide path to the governor’s office. “It’s like Hollywood. Nobody knows anything. She’s famous enough to look credible in early polling. That’s all we know for sure,” Murphy said. “Does that predict the future? No. Are there a lot of downsides (to a potential Harris candidacy)? Totally, yes.” ©2024 Los Angeles Times. Visit latimes.com. Distributed by Tribune Content Agency, LLC.

, /PRNewswire/ -- The Sterling Group, a -based, operationally focused middle market private equity firm, is pleased to announce that and have been promoted to Partner. "We are excited to recognize the extraordinary contributions of John and Claudine," said , Partner at The Sterling Group. "Each has played a critical part in Sterling's success to date. We are thrilled to celebrate their accomplishments and welcome them as Partners." , Partner, joined Sterling in 2018 from McKinsey & Company's office where he focused on strategic and operational initiatives for industrial and energy companies. John has been a leader on the PrimeFlight Aviation, West Star Aviation, Fencing Supply Group, Tangent Technologies, and Lynx FBO Network investment teams. John has also been a key member of the firm's Operations Committee, which drives continuous improvement in Sterling's own value creation capabilities. , Partner, Human Capital, joined Sterling in 2017 to lead Human Capital at Sterling and its portfolio companies. During Claudine's time at Sterling, she has contributed to a significant build-out of the team and has driven a dramatic improvement in Sterling's ability to drive value creation through the Human Capital lever. Claudine is a critical business partner to investment teams and management teams alike. To learn more about a career at The Sterling Group, please visit Founded in 1982, The Sterling Group is a private equity and private credit investment firm that targets investments in basic manufacturing, distribution, and industrial services companies. Typical enterprise values of these companies at initial formation range from to . Sterling has sponsored the buyout of 73 platform companies and numerous add-on acquisitions for a total transaction value of over . Sterling currently has of assets under management. For further information, please visit . View original content: SOURCE The Sterling Group, L.P.Reports Record Sales and Earnings Increases Quarterly Cash Dividend by 20% to $0.12 per Common Share LAKEWOOD, Colo. , Nov. 21, 2024 /PRNewswire/ -- Natural Grocers by Vitamin Cottage, Inc. NGVC today announced results for its fourth quarter and fiscal year ended September 30, 2024 and provided its outlook for fiscal 2025. Highlights for Fourth Quarter Fiscal 2024 Compared to Fourth Quarter Fiscal 2023 Net sales increased 9.3% to $322.7 million ; Daily average comparable store sales increased 7.1%, and increased 14.0% on a two-year basis; Net income increased 53.2% to $9.0 million , with diluted earnings per share of $0.39 ; and Adjusted EBITDA was $22.6 million . Highlights for Fiscal 2024 Compared to Fiscal 2023 Net sales increased 8.9% to $1.24 billion ; Daily average comparable store sales increased 7.0%, and increased 10.6% on a two-year basis; 21 st consecutive year of positive comparable store sales growth; Net income increased 46.0% to $33.9 million , with diluted earnings per share of $1.47 ; Adjusted EBITDA was $83.3 million ; and Opened four new stores and relocated/remodeled four stores. "Our outstanding fourth quarter and fiscal year results underscore our customers' appreciation for our commitment to the exceptional quality, value and convenience provided by our innovative business model along with consumers' increasing prioritization of products that support health and sustainability," said Kemper Isely , Co-President. "Our commitment to offering the highest quality products at Always Affordable SM prices is distinctive in the market and has been pivotal to our success. Fourth quarter results were broadly positive with daily average comparable store sales growth of 7.1% and 14.0% on a two-year basis, as well as a 53% increase in net income. We are particularly pleased with the balanced nature of our sales growth in fiscal 2024, including increases in transaction counts and items per transaction, modest price inflation and sales contribution from new stores." Mr. Isely continued, "The combination of consumer trends and our focus on customer engagement and operational initiatives have driven our sustained growth. Over the previous five years we have grown net sales by 37%, and diluted earnings per share have more than tripled. Furthermore, during this period we returned $108 million in capital to our stockholders through $4.76 of cumulative cash dividends per common share. As we look forward to fiscal 2025, we expect to build upon our momentum by continuing to execute to our founding principles, leveraging our differentiated model and emphasizing operational excellence to drive profitable growth." In addition to presenting the financial results of Natural Grocers by Vitamin Cottage, Inc. and its subsidiaries (collectively, the Company) in conformity with U.S. generally accepted accounting principles (GAAP), the Company is also presenting EBITDA and Adjusted EBITDA, which are non-GAAP financial measures. The reconciliation from GAAP to these non-GAAP financial measures is provided at the end of this earnings release. Operating Results — Fourth Quarter Fiscal 2024 Compared to Fourth Quarter Fiscal 2023 Net sales during the fourth quarter of fiscal 2024 increased $27.6 million , or 9.3%, to $322.7 million , compared to the fourth quarter of fiscal 2023, due to a $21.0 million increase in comparable store sales and a $6.6 million increase in new store sales. Daily average comparable store sales increased 7.1% in the fourth quarter of fiscal 2024, comprised of a 3.6% increase in daily average transaction count and a 3.4% increase in daily average transaction size. The increase in net sales was driven by increases in transaction counts, items per transaction, retail prices and new store sales. Sales growth was driven by enhanced customer engagement with our {N}power ® rewards program, compelling offers, marketing initiatives, and increased sales of Natural Grocers® brand products. Gross profit during the fourth quarter of fiscal 2024 increased $11.0 million , or 13.1%, to $95.4 million , compared to $84.3 million in the fourth quarter of fiscal 2023. Gross profit reflects earnings after product and store occupancy costs. Gross margin increased 100 basis points to 29.6% during the fourth quarter of fiscal 2024, compared to 28.6% in the fourth quarter of fiscal 2023. The increase in gross margin was driven by store occupancy cost leverage and higher product margin. Store expenses during the fourth quarter of fiscal 2024 increased 10.2% to $72.6 million , primarily driven by higher compensation expenses and long-lived asset impairment charges related to a planned store closure. Store expenses as a percentage of net sales were 22.5% during the fourth quarter of fiscal 2024, up from 22.3% in the fourth quarter of fiscal 2023. The increase in store expenses as a percentage of net sales was primarily driven by higher long-lived asset impairment charges partially offset by expense leverage. Administrative expenses during the fourth quarter of fiscal 2024 increased 4.4% to $10.2 million . Administrative expenses as a percentage of net sales were 3.2% in the fourth quarter of fiscal 2024, down from 3.3% in the fourth quarter of fiscal 2023. Operating income for the fourth quarter of fiscal 2024 increased 56.0% to $12.1 million . Operating margin during the fourth quarter of fiscal 2024 was 3.7%, up from 2.6% in the fourth quarter of fiscal 2023. Net income for the fourth quarter of fiscal 2024 was $9.0 million , or $0.39 diluted earnings per share, compared to net income of $5.9 million , or $0.26 diluted earnings per share, for the fourth quarter of fiscal 2023. Adjusted EBITDA for the fourth quarter of fiscal 2024 was $22.6 million , compared to $16.1 million in the fourth quarter of fiscal 2023. Operating Results — Fiscal 2024 Compared to Fiscal 2023 Net sales during fiscal 2024 increased $101.0 million , or 8.9%, to $1,241.6 million , compared to fiscal 2023, due to an $83.0 million increase in comparable store sales and a $22.6 million increase in new store sales, partially offset by a $4.6 million decrease in sales related to closed stores. Daily average comparable store sales increased 7.0% in fiscal 2024, comprised of a 3.8% increase in daily average transaction count and a 3.1% increase in daily average transaction size. The increase in net sales was driven by increases in transaction counts, retail prices, items per transaction and new store sales. Sales growth was driven by enhanced customer engagement with our {N}power rewards program, compelling offers, marketing initiatives including market-specific campaigns, and increased sales of Natural Grocers brand products. Gross profit during fiscal 2024 increased $37.9 million , or 11.6%, to $364.8 million . Gross profit reflects earnings after product and store occupancy costs. Gross margin increased 70 basis points to 29.4% during fiscal 2024, compared to 28.7% in 2023. The increase in gross margin was primarily driven by store occupancy cost leverage and higher product margin attributed to effective pricing and promotions. Store expenses during fiscal 2024 increased 7.8% to $277.4 million , primarily driven by higher compensation expenses, depreciation expenses and long-lived asset impairment charges. Store expenses as a percentage of net sales were 22.3% during fiscal 2024, down from 22.6% in fiscal 2023. The decrease in store expenses as a percentage of net sales primarily reflects expense leverage. Administrative expenses during fiscal 2024 increased 7.6% to $38.7 million , driven by higher compensation expenses. Administrative expenses as a percentage of net sales were 3.1% for fiscal 2024, down from 3.2% in fiscal 2023. Operating income for fiscal 2024 increased 48.3% to $47.0 million . Operating margin during fiscal 2024 was 3.8%, up from 2.8% in fiscal 2023. Net income for fiscal 2024 was $33.9 million , or $1.47 diluted earnings per share, compared to net income of $23.2 million , or $1.02 diluted earnings per share, for fiscal 2023. Adjusted EBITDA for fiscal 2024 was $83.3 million , compared to $63.4 million in fiscal 2023. Balance Sheet and Cash Flow As of September 30, 2024 , the Company had $8.9 million in cash and cash equivalents, and no amounts outstanding on its $75.0 million revolving credit facility. During fiscal 2024, the Company generated $73.8 million in cash from operations and invested $38.6 million in net capital expenditures, primarily for new and relocated/remodeled stores. Dividend Announcement Today, the Company announced the declaration of a quarterly cash dividend of $0.12 per common share, a 20% increase over the Company's previous quarterly dividend. The dividend will be paid on December 18, 2024 to stockholders of record at the close of business on December 2, 2024 . Growth and Development During the fourth quarter of fiscal 2024 the Company opened one new store, ending the fourth quarter with 169 stores in 21 states. A total of four new stores were opened during fiscal 2024. Fiscal 2025 Outlook The Company is introducing its fiscal 2025 outlook. The Company expects: Fiscal 2025 Outlook Number of new stores 4 to 6 Number of relocations/remodels 2 to 4 Daily average comparable store sales growth 4.0% to 6.0% Diluted earnings per share $1.52 to $1.60 Capital expenditures (in millions) $36 to $44 Earnings Conference Call The Company will host a conference call today at 2:30 p.m. Mountain Time ( 4:30 p.m. Eastern Time ) to discuss this earnings release. The dial-in number is 1-888-347-6606 (US) or 1-412-902-4289 (International). The conference ID is "Natural Grocers Q4 FY 2024 Earnings Call." A simultaneous audio webcast will be available at http://Investors.NaturalGrocers.com and archived for a minimum of 20 days. About Natural Grocers by Vitamin Cottage Natural Grocers by Vitamin Cottage, Inc. NGVC is an expanding specialty retailer of natural and organic groceries, body care products and dietary supplements. The products sold by Natural Grocers must meet strict quality guidelines and may not contain artificial colors, flavors, preservatives or sweeteners, or partially hydrogenated or hydrogenated oils. The Company sells only USDA certified organic produce and exclusively pasture-raised, non-confinement dairy products, and free-range eggs. Natural Grocers' flexible smaller-store format allows it to offer affordable prices in a shopper-friendly, clean and convenient retail environment. The Company also provides extensive free science-based nutrition education programs to help customers make informed health and nutrition choices. The Company, founded in 1955, has 168 stores in 21 states. Visit www.NaturalGrocers.com for more information and store locations. Forward-Looking Statements The following constitutes a "safe harbor" statement under the Private Securities Litigation Reform Act of 1995. Except for the historical information contained herein, statements in this release are "forward-looking statements" and are based on management's current expectations and are subject to uncertainty and changes in circumstances. All statements that are not statements of historical fact are forward-looking statements. Actual results could differ materially from these expectations due to changes in global, national, regional or local political, economic, inflationary, deflationary, recessionary, business, interest rate, labor market, competitive, market, regulatory and other factors, and other risks detailed in the Company's Annual Report on Form 10-K and the Company's subsequent quarterly reports on Form 10-Q. The information contained herein speaks only as of the date of this release and the Company undertakes no obligation to publicly update forward-looking statements, except as may be required by the securities laws. For further information regarding risks and uncertainties associated with the Company's business, please refer to the "Management's Discussion and Analysis of Financial Condition and Results of Operations" and "Risk Factors" sections of the Company's filings with the Securities and Exchange Commission, including, but not limited to, the Form 10-K and the Company's subsequent quarterly reports on Form 10-Q, copies of which may be obtained by contacting Investor Relations at 303-986-4600 or by visiting the Company's website at http://Investors.NaturalGrocers.com . Investor Contact: Reed Anderson , ICR, 646-277-1260, reed.anderson@icrinc.com NATURAL GROCERS BY VITAMIN COTTAGE, INC. Consolidated Statements of Income (Unaudited) (Dollars in thousands, except per share data) Three months ended September 30, Year ended September 30, 2024 2023 2024 2023 Net sales $ 322,661 295,075 1,241,585 1,140,568 Cost of goods sold and occupancy costs 227,299 210,730 876,775 813,637 Gross profit 95,362 84,345 364,810 326,931 Store expenses 72,605 65,863 277,396 257,282 Administrative expenses 10,241 9,807 38,715 35,973 Pre-opening expenses 450 938 1,722 2,007 Operating income 12,066 7,737 46,977 31,669 Interest expense, net (1,053) (821) (4,176) (3,299) Income before income taxes 11,013 6,916 42,801 28,370 Provision for income taxes (2,003) (1,036) (8,866) (5,127) Net income $ 9,010 5,880 33,935 23,243 Net income per share of common stock: Basic $ 0.40 0.26 1.49 1.02 Diluted $ 0.39 0.26 1.47 1.02 Weighted average number of shares of common stock outstanding: Basic 22,799,571 22,738,284 22,774,825 22,725,088 Diluted 23,175,214 22,945,750 23,083,903 22,834,316 NATURAL GROCERS BY VITAMIN COTTAGE, INC. Consolidated Balance Sheets (Unaudited) (Dollars in thousands, except per share data) September 30, 2024 2023 Assets Current assets: Cash and cash equivalents $ 8,871 18,342 Accounts receivable, net 12,610 10,797 Merchandise inventory 120,672 119,260 Prepaid expenses and other current assets 4,905 4,151 Total current assets 147,058 152,550 Property and equipment, net 178,609 169,060 Other assets: Operating lease assets, net 275,111 287,941 Finance lease assets, net 40,752 45,110 Other assets 458 395 Goodwill and other intangible assets, net 13,488 14,129 Total other assets 329,809 347,575 Total assets $ 655,476 669,185 Liabilities and Stockholders' Equity Current liabilities: Accounts payable $ 88,397 80,675 Accrued expenses 35,847 33,064 Term loan, current portion — 1,750 Operating lease obligations, current portion 35,926 34,850 Finance lease obligations, current portion 3,960 3,690 Total current liabilities 164,130 154,029 Long-term liabilities: Term loan, net of current portion — 5,938 Operating lease obligations, net of current portion 263,404 276,808 Finance lease obligations, net of current portion 43,217 47,142 Deferred income tax liabilities, net 10,471 14,427 Total long-term liabilities 317,092 344,315 Total liabilities 481,222 498,344 Stockholders' equity: Common stock, $0.001 par value. 50,000,000 shares authorized, 22,888,540 and 22,745,412 shares issued at September 30, 2024 and 2023, respectively, and 22,888,540 and 22,738,915 shares outstanding at September 30, 2024 and 2023, respectively 23 23 Additional paid-in capital 60,327 59,013 Retained earnings 113,904 111,871 Common stock in treasury at cost, 6,497 shares at September 30, 2023 — (66) Total stockholders' equity 174,254 170,841 Total liabilities and stockholders' equity $ 655,476 669,185 NATURAL GROCERS BY VITAMIN COTTAGE, INC. Consolidated Statements of Cash Flows (Unaudited) (Dollars in thousands) Year ended September 30, 2024 2023 Operating activities: Net income $ 33,935 23,243 Adjustments to reconcile net income to net cash provided by operating activities: Depreciation and amortization 30,930 28,906 Loss on impairment of long-lived assets and store closing costs 2,102 1,268 Loss on disposal of property and equipment 10 379 Share-based compensation 2,829 1,360 Deferred income tax benefit (3,955) (1,475) Non-cash interest expense 17 19 Other (160) — Changes in operating assets and liabilities: (Increase) decrease in: Accounts receivable, net (1,790) 315 Income tax receivable 252 378 Merchandise inventory (1,412) (5,504) Prepaid expenses and other assets (1,069) (128) Operating lease assets 33,446 33,067 (Decrease) increase in: Operating lease liabilities (34,197) (33,899) Accounts payable 10,039 10,350 Accrued expenses 2,783 6,327 Net cash provided by operating activities 73,760 64,606 Investing activities: Acquisition of property and equipment (37,541) (36,568) Acquisition of other intangibles (1,139) (1,525) Proceeds from sale of property and equipment 37 107 Proceeds from property insurance settlements 43 36 Net cash used in investing activities (38,600) (37,950) Financing activities: Borrowings under revolving loans 604,200 531,100 Repayments under revolving loans (604,200) (531,100) Repayments under term loan (7,688) (8,000) Finance lease obligation payments (3,610) (2,779) Dividends to shareholders (31,866) (9,089) Repurchase of common stock — (181) Payments of deferred financing costs (18) — Payments on withholding tax for restricted stock unit vesting (1,449) (304) Net cash used in financing activities (44,631) (20,353) Net (decrease) increase in cash and cash equivalents (9,471) 6,303 Cash and cash equivalents, beginning of year 18,342 12,039 Cash and cash equivalents, end of year $ 8,871 18,342 Supplemental disclosures of cash flow information: Cash paid for interest $ 2,216 1,305 Cash paid for interest on financing lease obligations, net of capitalized interest of $338 and $318, respectively 1,939 2,002 Income taxes paid 13,581 5,048 Supplemental disclosures of non-cash investing and financing activities: Acquisition of property and equipment not yet paid $ 3,679 6,016 Acquisition of other intangibles not yet paid 22 3 Property acquired through operating lease obligations 22,317 15,274 Property acquired through finance lease obligations (45) 5,724 NATURAL GROCERS BY VITAMIN COTTAGE, INC. Non-GAAP Financial Measures (Unaudited) EBITDA and Adjusted EBITDA EBITDA and Adjusted EBITDA are not measures of financial performance under GAAP. We define EBITDA as net income before interest expense, provision for income taxes, depreciation and amortization. We define Adjusted EBITDA as EBITDA as adjusted to exclude the effects of certain income and expense items that management believes make it more difficult to assess the Company's actual operating performance, including certain items such as impairment charges, store closing costs, share-based compensation and non-recurring items. The following table reconciles net income to EBITDA and Adjusted EBITDA, dollars in thousands: Three months ended September 30, Year ended September 30, 2024 2023 2024 2023 Net income $ 9,010 5,880 33,935 23,243 Interest expense, net 1,053 821 4,176 3,299 Provision for income taxes 2,003 1,036 8,866 5,127 Depreciation and amortization 7,932 7,480 30,930 28,906 EBITDA 19,998 15,217 77,907 60,575 Impairment of long-lived assets and store closing costs 1,721 534 2,547 1,464 Share-based compensation 929 314 2,829 1,360 Adjusted EBITDA $ 22,648 16,065 83,283 63,399 EBITDA increased 31.4% to $20.0 million for the fourth quarter of fiscal 2024 compared to $15.2 million for the fourth quarter of fiscal 2023. EBITDA increased 28.6% to $77.9 million for the year ended September 30, 2024 compared to $60.6 million for the year ended September 30, 2023 . EBITDA as a percentage of net sales was 6.2% and 5.2% for the fourth quarter of 2024 and 2023, respectively. EBITDA as a percentage of net sales was 6.3% and 5.3% for the years ended September 30, 2024 and 2023, respectively. Adjusted EBITDA increased 41.0% to $22.6 million for the fourth quarter of fiscal 2024 compared to $16.1 million for the fourth quarter of fiscal 2023. Adjusted EBITDA increased 31.4% to $83.3 million for the year ended September 30, 2024 compared to $63.4 million for the year ended September 30, 2023 . Adjusted EBITDA as a percentage of net sales was 7.0% and 5.4% for the fourth quarter of fiscal 2024 and 2023, respectively. Adjusted EBITDA as a percentage of net sales was 6.7% and 5.6% for the years ended September 30, 2024 and 2023, respectively. Management believes some investors' understanding of our performance is enhanced by including EBITDA and Adjusted EBITDA, which are non-GAAP financial measures. We believe EBITDA and Adjusted EBITDA provide additional information about: (i) our operating performance, because they assist us in comparing the operating performance of our stores on a consistent basis, as they remove the impact of non-cash depreciation and amortization expense as well as items not directly resulting from our core operations, such as interest expense and income taxes and (ii) our performance and the effectiveness of our operational strategies. Additionally, EBITDA is a component of a measure in our financial covenants under our credit facility. Furthermore, management believes some investors use EBITDA and Adjusted EBITDA as supplemental measures to evaluate the overall operating performance of companies in our industry. Management believes that some investors' understanding of our performance is enhanced by including these non-GAAP financial measures as a reasonable basis for comparing our ongoing results of operations. By providing these non-GAAP financial measures, together with a reconciliation from net income, we believe we are enhancing investors' understanding of our business and our results of operations, as well as assisting investors in evaluating how well we are executing our strategic initiatives. Our competitors may define EBITDA and Adjusted EBITDA differently, and as a result, our measures of EBITDA and Adjusted EBITDA may not be directly comparable to EBITDA and Adjusted EBITDA of other companies. Items excluded from EBITDA and Adjusted EBITDA are significant components in understanding and assessing financial performance. EBITDA and Adjusted EBITDA are supplemental measures of operating performance that do not represent and should not be considered in isolation or as an alternative to, or substitute for, net income or other financial statement data presented in the consolidated financial statements as indicators of financial performance. EBITDA and Adjusted EBITDA have limitations as analytical tools, and should not be considered in isolation, or as a substitute for analysis of our results as reported under GAAP. Some of the limitations are: EBITDA and Adjusted EBITDA do not reflect our cash expenditures, or future requirements for capital expenditures or contractual commitments; EBITDA and Adjusted EBITDA do not reflect changes in, or cash requirements for, our working capital needs; EBITDA and Adjusted EBITDA do not reflect any depreciation or interest expense for leases classified as finance leases; EBITDA and Adjusted EBITDA do not reflect the interest expense, or the cash requirements necessary to service interest or principal payments on our debt; Adjusted EBITDA does not reflect share-based compensation, impairment charges, and store closing costs; EBITDA and Adjusted EBITDA do not reflect our tax expense or the cash requirements to pay our taxes; and although depreciation and amortization are non-cash charges, the assets being depreciated and amortized will often have to be replaced in the future and EBITDA and Adjusted EBITDA do not reflect any cash requirements for such replacements. Due to these limitations, EBITDA and Adjusted EBITDA should not be considered as measures of discretionary cash available to us to invest in the growth of our business. We compensate for these limitations by relying primarily on our GAAP results and using EBITDA and Adjusted EBITDA as supplemental information. View original content to download multimedia: https://www.prnewswire.com/news-releases/natural-grocers-by-vitamin-cottage-announces-fiscal-2024-fourth-quarter-and-full-year-results-302313348.html SOURCE Natural Grocers by Vitamin Cottage, Inc. © 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.