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The Tampa Bay Rays have had six of their 2025 regular-season games shifted to the early season due to weather issues from playing outside, Major League Baseball announced Monday. The Rays' usual home, domed Tropicana Field, was damaged by Hurricane Milton last month with almost all of its roof shredded and no possibility of playing there next year. Javascript is required for you to be able to read premium content. Please enable it in your browser settings. Success! An email has been sent to with a link to confirm list signup. Error! There was an error processing your request. Get the latest need-to-know information delivered to your inbox as it happens. Our flagship newsletter. Get our front page stories each morning as well as the latest updates each afternoon during the week + more in-depth weekend editions on Saturdays & Sundays.
Kinder Morgan Announces 2025 Financial Expectations
Back in its second-quarter earnings report in August, Target ( TGT 2.81% ) gave investors hope that it was finally turning the corner. Since the pandemic began to wind down, the retailer has struggled with inflation, weak consumer discretionary spending , and an increase in theft. However, Target's shares plunged on Wednesday after its latest update indicated that the recovery trend didn't last, and the company is still struggling on both sides of the income statement. Comparable sales rose 0.3% in the quarter as traffic was up 2.4%, but its average transaction fell. The company's sales shifted to the digital channel, with digital comps up 10.8%, but in-store comparable sales fell 1.9%. Overall revenue rose 1.1% to $25.7 billion, which missed the consensus of $25.9 billion. The retailer continued to face margin pressure as gross margin fell from 27.4% to 27.2%, due to higher inventory levels and increased fulfillment and supply chain costs. Management stocked up on and rerouted inventory ahead of the October port strike, which should be a one-time headwind. Higher wages and benefits led to an increase in selling, general, and administrative expenses from 20.9% to 21.4%; as a result, operating margin fell from 5.2% to 4.6%. That led to a decline in earnings per share (EPS) from $2.10 to $1.85, which badly missed estimates of $2.30. Target also offered disappointing guidance for the key holiday quarter: It sees flat comparable sales growth and earnings per share of $1.85 to $2.45, which was well below the consensus of $2.64. It also cut its full-year EPS guidance from $9.00-$9.70 to $8.30-$8.90. What's ailing Target The company trotted out familiar excuses. Management said that "We encountered some unique challenges and cost pressures that impacted our bottom-line performance"; on the earnings call, it said that consumers are continuing to be selective about spending, and patiently waiting for deals. However, Target's struggles came as rival Walmart continued to dominate. Walmart captured comparable-sales growth of 5% in its third quarter at U.S. stores, driven by its core grocery business. It trimmed inventory in the third quarter and was able to increase gross margin, driving overall profitability. Walmart also reported mid-single-digit deflation in its general merchandise category, showing that it's lowering prices across its product range. And it called out market-share gains across all income cohorts, a sign that it's taking market share from Target, among other retailers. Target did have some bright spots, including 6% comparable-sales growth in beauty, and double-digit growth in Drive Up and same-day delivery. But overall, inventory challenges, consumer sluggishness, and competitive weakness continued to weigh on the business. Can Target bounce back? While Target stock deserves to be down sharply on the news and had fallen 21% as of early Wednesday afternoon, there are some reasons it could bounce back sooner than you think. Target has a lot of operating leverage in its business model, and a modest improvement in gross margin can lead to a surge in operating profits. First, better inventory management might have enabled the company to expand gross margin to 29%, an improvement of 180 basis points. Those gains would flow directly down to operating margin, which was just 4.6%. If its operating margin was instead 6.4% -- 180 basis points higher, and within Target's historical guidance for an operating margin of at least 6% -- operating income would have jumped 39%, a huge difference. Getting there isn't as hard as it looks, especially as management expects categories that have been under pressure, like home, to eventually recover. Second, shares are cheap compared to those of peers like Walmart: Target now trades at a price-to-earnings (P/E) ratio of 14 based on this year's EPS estimates. Of course, the company needs to make some fundamental improvements before investors can capitalize on the discounted valuation, but the opportunity is there. After the third-quarter update, however, a recovery in the stock looks even further away.NBA Don't miss out on the headlines from NBA. Followed categories will be added to My News. VP pick and roll. Former Kamala Harris campaign surrogate and “Shark Tank” mogul Mark Cuban believes he can win the presidency by choosing an NBA legend as his running mate, the NY Post reports. Average of 9 LIVE Regular Season games per week plus the best of the NBA Playoffs, including every game of the NBA Conference Finals & NBA Finals LIVE on ESPN, available via Kayo New to Kayo? Get your first month for just $1. Limited time offer. During an appearance on “The Steam Room” podcast, hosted by NBA TNT television personalities Ernie Johnson and Charles Barkley, Cuban answered whether his recent turn as a political pundit would result in seeking elected office. Cuban first said “hell no,” about running for higher office, but said one thing could possibly change his mind. “Would your feeling on a run for office change if it were, say, a ticket of you and the Chuckster,” legendary basketball announcer Ernie Johnson asked, referring to his co-host as the potential running mate. “Yes, absolutely,” Cuban replied with relish. “We’d win running away. No question about it.” “We’d win,” Barkley said in matter-of-fact agreement. “We’d definitely win. Yes absolutely, running away.” The billionaire would only run with an NBA legend on the ballot. (Photo by Jon Kopaloff/Getty Images for WIRED) VP Barkley has a good ring to it. (Photo by Carmen Mandato/Getty Images) Cuban heaped praise on Barkley, all but calling him a role model for civility and personability. “Charles can talk to anybody and put himself in any circumstance and get along with everybody, and I think that’s what we need,” Cuban said. Moments before, the Round Mound of Rebound himself asked Cuban whether he “seriously considered” seeking an elected office. “I did a little bit,” Cuban said with a wince. “I even talked to a pollster. But then I talked to my family and we took a family vote and they said, “hell no.” Cuban further elaborated that he believes today’s politics is “meaner” and that the “hate on social media” serves as a legitimate deterrent to his civic impulses. “If your kids live on social media, why would I put them through that?” Cuban asked rhetorically. Cuban, who was an active surrogate for the Harris campaign, said he was disappointed with Trump’s election victory in November —- but he is more focused on the future than the past. Cuban is focusing on the future. (Photo by Richard Rodriguez/Getty Images) Trump’s election victory didn’t sit well with Cuban. (Photo by Jim WATSON / AFP) “What’s your first, initial reaction to the election going forward,” Barkley asked the minority owner of the Dallas Mavericks. “It’s like losing the last game of the season. You know? It’s a horrible feeling; walking off the court is awful. But, you know, you’ve got to look forward to next season,” said Cuban. “You can’t dwell on it, you’ve got to think what you can do going forward, and I care about this country, I love this country, and that’s important to me. It’s not about “I hate this person” or “I hate that person.” No. It’s about what can we do going forward,” he stated. The billionaire turned political pundit made news throughout the election cycle, oftentimes due to high-profile flubs. Cuban faced backlash after claiming Donald Trump doesn’t surround himself with “strong, intelligent women.” Trump doesn’t surround himself with “strong intelligent women”. (Photo by Nicholas Kamm / AFP) Cuban copped backlash over the remark. (Photo by Rich Fury / GETTY IMAGES NORTH AMERICA / AFP) “They’re intimidating to him. He doesn’t like to be challenged by them, and, you know, Nikki Haley will call him on his nonsense with reproductive rights and how he sees and treats and talks about women. I mean, he just can’t have her around. It wouldn’t work,” Cuban said on “The View” at the time. He later apologised for the comments that were seen as dismissive and disrespectful to conservative women. The billionaire was also roundly mocked in online conservative circles during the campaign — with many suggesting that his new black-rimmed glasses bring out a resemblance to liberal MSNBC talk show host Rachel Maddow. This article originally appeared on the NY Post and was reproduced with permission. More Coverage Commentator hospitalised, ‘impaled in head’ Fox Cricket Shock F1 announcement fuels Max rumours AFP Originally published as Billionaire NBA owner Mark Cuban’s shock presidential claim Read related topics: Donald Trump More related stories NBA Aussie blows NBA away with absurd first Australian basketball star Josh Giddey has left jaws on the floor after producing a scintillating performance for his new team. Read more NBA ‘Insane’ Aussie receives enormous praise Dyson Daniels’ star continues to soar, with the young Aussie drawing huge praise from one of the best players in NBA history. Read moreWho can the president pardon? Here’s what to know as Biden wraps up his termMITCHELL — Having kicked off practice recently, a new era has dawned for the Mitchell High School girls basketball team. To help guide the team forward, the Kernels are turning to its most experienced players to front the charge. ADVERTISEMENT The senior trio of returning starters Carsyn Weich and Lauren Van Overschelde, along with role player Makenzie Peterson, have taken on more prominent leadership roles within the relatively young roster, while also being among the players the Kernels will look to as they try to improve on a 20-win season and a sixth-place finish at state last year. Even with the success, which included a 15-0 start and the Eastern South Dakota Conference title, the girls know they’ll need to find an extra spark in order to compete for wins. “We’re going to have to be more confident,” Weich said. “We all know we have big shoes to fill and we’re stepping up a little bit and doing more each practice. Our coaches have faith in us, so we have to have faith in ourselves too.” “We just have to remember it’s for the team,” added Peterson. “I know we have so much potential and I know we can bring it. I’m waiting to see it and I know everyone else is as well.” Much of the discussions have been about what can the Kernels do together, knowing everyone will have to make meaningful contributions following top point-scorer Sawyer Stoebner’s graduation, who also led the team in rebounds, assists and steals last season. Each of the three seniors have stepped up to lead the team in different ways. Weich has led ball-handling drills in practice, while Peterson and Van Overschelde have used their actions during practices to set an example to the other girls on the roster. Having been around them throughout their basketball journey, Kernels head coach Dave Brooks knows they’ll let their work ethic set the tone each time the team’s together. However, their words carry added significance. ADVERTISEMENT “I trust their judgment,” Brooks said. “When they speak up, we need to listen. When something’s getting caught, out of control or if they’re pushed far enough, they will speak up, and I think that’s good for our kids to have that.” Patience will also be key, as outside of Weich, Van Overschelde, Peterson, and junior returning starter Addie Siemsen, this year’s team is composed of mostly freshmen and sophomores who’ll see time at varsity and junior varsity this season. Knowing the importance of maintaining morale, even as the group will inevitably deal with adversity throughout the season, the seniors are working on keeping themselves positive and instilling confidence. “We can’t be down on ourselves and we can’t be down on our teammates,” Van Overschelde said. “There’s going to be moments, but we have to stay positive and that’ll make everyone else get better every single practice and every single game.” Overall, the players and coaches know the first few games will be a learning process for the team, as Mitchell opens the season with consecutive home games at the Corn Palace against defending Class A state champion Vermillion on Friday, Dec. 13, and ESD foe Watertown on Tuesday, Dec. 17. Weich, Van Overschelde and Peterson have shown the rest of the Kernels their ability to take on the added responsibility, having grown from the final game at state last season throughout the summer to being in the position they’re in now. “We have great seniors,” Brooks said. “It’s amazing how kids can change from junior year to senior year, which is a good sign. They get along well and like hanging out together, and will still be in the gym with others when practice is over.”
‘Not good for tax policy’: Economists question rationale of Ottawa’s new stimulus packageJeffrey C. Kunins Sells 1,035 Shares of Axon Enterprise, Inc. (NASDAQ:AXON) Stock
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