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online casino fishing NoneNet sales increased 2% versus last year with comparable sales up 1% Operating margin of 9.3% improved 270 basis points versus last year Market share gains across all brands in the quarter Raises outlook for fiscal 2024 net sales, gross margin and operating income growth SAN FRANCISCO , Nov. 21, 2024 /PRNewswire/ -- Gap Inc. (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 Net sales of $3.8 billion were up 2% compared to last year. Comparable sales were up 1% year-over-year. Due to the 53 rd week in fiscal 2023, in order to maintain consistency, comparable sales for the third quarter of fiscal 2024 are compared to the 13 weeks ended November 4, 2023 . Store sales decreased 2% compared to last year. The company ended the quarter with 3,603 store locations in about 40 countries, of which 2,544 were company operated. Online sales increased 7% compared to last year and represented 40% of total net sales. Gross margin of 42.7% increased 140 basis points versus last year's gross margin. Merchandise margin increased 90 basis points versus last year primarily driven by improved inventory management. Rent, occupancy, and depreciation (ROD) as a percent of sales leveraged 50 basis points versus last year. Operating expense was $1.3 billion . Operating income was $355 million ; operating margin of 9.3%. The effective tax rate was 24%. Net income of $274 million ; diluted earnings per share of $0.72 . Balance Sheet and Cash Flow Highlights Ended the quarter with cash, cash equivalents and short-term investments of $2.2 billion , an increase of 64% from the prior year. Year-to-date net cash from operating activities was $870 million . Year-to-date free cash flow , defined as net cash from operating activities less purchases of property and equipment, was $540 million . Ending inventory of $2.33 billion was down 2% compared to last year. Capital expenditures were $330 million . Paid a third quarter dividend of $0.15 per share, totaling $57 million. The company's Board of Directors approved a fourth quarter fiscal 2024 dividend of $0.15 per share. Additional information regarding free cash flow, which is a non-GAAP financial measure, is provided at the end of this press release along with a reconciliation of this measure from the most directly comparable GAAP financial measure for the applicable period. Third Quarter Fiscal 2024 – Global Brand Results Comparable Sales Old Navy: Third quarter net sales of $2.2 billion were up 1% compared to last year. Comparable sales were flat. The brand's continued focus on operational rigor and brand reinvigoration drove solid performance in the quarter, despite lapping tougher compares and facing weather-related headwinds. Gap: Third quarter net sales of $899 million were up 1% compared to last year. Comparable sales were up 3% representing the fourth consecutive quarter of positive comparable sales at the brand. Gap's strong product and marketing execution have helped drive continued momentum and consistent results at the brand. Banana Republic: Third quarter net sales of $469 million were up 2% compared to last year. Comparable sales were down 1%. The brand saw strength in its men's business during the quarter and remains focused on fixing the fundamentals. Athleta: Third quarter net sales of $290 million were up 4% compared to last year. Comparable sales were up 5%. As expected, the brand returned to positive comparable sales in the quarter as its new product and marketing are resonating with customers. Fiscal 2024 Outlook As a result of its strong third quarter results, the company is raising its full year outlook for net sales, gross margin and operating income growth compared to prior expectations. Please note that the company's projected full year fiscal 2024 operating income growth below is provided in comparison to its full year fiscal 2023 adjusted operating income, which excludes $93 million in restructuring costs and a $47 million gain on sale of a building. Full Year Fiscal 2024 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 [email protected] Media Relations Contact: Megan Foote [email protected] Free cash flow is a non-GAAP financial measure. We believe free cash flow is an important metric because it represents a measure of how much cash a company has available for discretionary and non-discretionary items after the deduction of capital expenditures. We require regular capital expenditures including technology improvements as well as building and maintaining our stores and distribution centers. We use this metric internally, as we believe our sustained ability to generate free cash flow is an important driver of value creation. However, this non-GAAP financial measure is not intended to supersede or replace our GAAP results. The following adjusted statement of operations metrics are non-GAAP financial measures. These measures are provided to enhance visibility into the Company's underlying results for the period excluding the impact of restructuring costs. Management believes the adjusted metrics are useful for the assessment of ongoing operations as we believe the adjusted items are not indicative of our ongoing operations, and provide additional information to investors to facilitate the comparison of results, on an annualized basis, against past and future years. However, these non-GAAP financial measures are not intended to supersede or replace the GAAP measures. SOURCE Gap Inc.

The FOX Forecast Center is keeping a close watch on weather patterns this Thanksgiving week, anticipating conditions that could cause travel disruptions across the United States. While a majority of travelers should reach their destinations with minimal issues, getting home may prove more challenging, particularly for those heading east. With nearly 80 million people expected to travel 50 miles or more, peak travel days are anticipated to fall on the Tuesday and Wednesday before Thanksgiving, as well as the Sunday after the holiday. The forecast suggests that those traveling during these busy days may encounter complications due to weather conditions, especially in certain regions, as per a report by Fox Weather. West Coast Storms and Mountain Snow The week is set to kick off with stormy weather on the West Coast, where heavy rain and gusty winds are expected in the lower elevations, accompanied by snow in the mountain regions. 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As the system moves eastward, it will bring moisture to the Rockies and parts of the South, creating pockets of light precipitation, although these conditions are not expected to reach severe weather thresholds. However, travelers in areas like Colorado, Utah, Nevada, and the mountains of California can expect snow-covered roads and potentially hazardous driving conditions. Midweek Travel: Airport Delays and Snowfall From Tuesday through Thursday, weather conditions are expected to remain unsettled, with intermittent precipitation affecting the Intermountain West and the South. These conditions could lead to delays at major airports, including Salt Lake City, Las Vegas, Los Angeles, and San Francisco. Major hubs like Atlanta and Charlotte will also see rain showers extending into the mid-Atlantic, though the storm timing should avoid the busiest travel windows. The worst weather in the South is likely to occur on Thanksgiving Day itself, a historically low-traffic air travel day, with only 1.5 million travelers passing through airport checkpoints in 2023. This may provide some relief for those traveling on this quieter day, despite the inclement weather. Black Friday: Potential Low-Pressure System and Winter Weather The FOX Forecast Center has highlighted Black Friday, November 29, as the most disruptive day for travel, especially along the East Coast. A low-pressure system is expected to develop off the Eastern Seaboard, though its exact path remains uncertain. If the system strengthens, it could bring a significant washout, while a more moderate version may lead to occasional showers. Either way, the forecast indicates a growing likelihood of winter weather affecting the interior Northeast and the Great Lakes region, with lake-effect snow persisting into the weekend. As traffic increases and weather conditions worsen, roadways and airports along the I-95 corridor are expected to experience delays. Cold Air to Sweep Across the US As the storm system moves east, it will be followed by a significant drop in temperatures, marking the coldest air of the season. An intrusion of cold air from Canada is set to arrive on Thanksgiving Day, pushing south and eastward across much of the eastern U.S. The cold front is expected to bring freezing temperatures to the northern Plains and near the Canadian border, with some areas experiencing subzero temperatures and chilling wind chills. Cities like Chicago are predicted to struggle to reach above freezing, while New York may find it difficult to climb out of the 40s as residents begin their travels. Unlike previous cold fronts that dissipated quickly, this airmass is expected to keep temperatures well below average throughout the first week of December, affecting both road and air travel. FAQs Why is Thanksgiving Turkey Day? Some historians suggest that early settlers, inspired by the queen’s actions, chose to roast a turkey instead of a goose. Since the wild turkey is native to North America, Benjamin Franklin argued that it was a more fitting national bird for the United States than the bald eagle. Is Thanksgiving bigger than Christmas? Thanksgiving stands as the most significant American holiday, as it provides a unique opportunity for families to come together, express gratitude, and strengthen their bonds, more so than even Christmas or the Fourth of July. (You can now subscribe to our Economic Times WhatsApp channel )Exela Technologies Inc. stock remains steady Monday, still outperforms market

ISTANBUL - The engine of a Russian-made passenger plane caught fire after landing at southern Turkey's Antalya Airport on Sunday, the Turkish transport ministry said in a statement. The ministry said landings at the airport were suspended until 0300 local time (0000 GMT) while authorities towed the plane from the runway. All 89 passengers and six crew were safely evacuated from the Sukhoi Superjet 100 passenger plane that had come from the Russian Black Sea resort of Sochi, the ministry said. A video shared on social media by Airport Haber news website showed emergency units responding at the site of the fire, with flames and smoke coming out of the aircraft's engine. Videos shared by the transport ministry following the incident showed the aircraft with fire extinguishing foam underneath as firefighters continue to spray the left-side engine to cool it down. According to the Antalya Airport website, an Azimuth Airlines plane from Sochi landed at 1825 GMT. REUTERS Join ST's Telegram channel and get the latest breaking news delivered to you. Read 3 articles and stand to win rewards Spin the wheel nowMcCormick & Co. Inc. stock rises Thursday, outperforms market

Fair Isaac exec James Wehmann sells $8.3m in stock

'They rule the roost': Area in the grip of terror with youths who 'think they are untouchable'Canopy Growth and Acreage Provide Update on Closing Timeline

Dynatrace executive sells $646,749 in stock

Dynatrace executive sells $646,749 in stock

Fair Isaac exec James Wehmann sells $8.3m in stock

NEW YORK (AP) — U.S. stocks climbed after market superstar Nvidia and another round of companies said they’re making even fatter profits than expected. The S&P 500 pulled 0.5% higher Thursday after flipping between modest gains and losses several times in the morning. The Dow Jones Industrial Average jumped 1.1%, and the Nasdaq composite edged up less than 0.1%. Banks, smaller companies and other areas of the stock market that tend to do best when the economy is strong helped lead the way, while bitcoin briefly broke above $99,000. Crude oil, meanwhile, continued to rise. Treasury yields edged higher in the bond market. THIS IS A BREAKING NEWS UPDATE. AP’s earlier story follows below. NEW YORK (AP) — U.S. stocks are climbing Thursday after market superstar Nvidia and another round of companies said they’re making even fatter profits than expected. The S&P 500 was pulling 0.7% higher, as of 2:45 p.m. Eastern time, after flipping between modest gains and losses several times in the morning. Banks, smaller companies and other areas of the stock market that tend do best when the economy is strong helped lead the way, while bitcoin briefly broke above $99,000. Crude oil, meanwhile, continued to rise. The Dow Jones Industrial Average jumped 532 points, or 1.2%, and the Nasdaq composite gained 0.2%. Nvidia's rise of 1.4% was the strongest force pushing the S&P 500 upward after yet again beating analysts’ estimates for profit and revenue. It also gave a forecast for revenue in the current quarter that topped most analysts’ expectations thanks to voracious demand for its chips used in artificial-intelligence technology. Its stock initially sank in afterhours trading Wednesday following the release of the results. Some investors said the market might have been looking for Nvidia's revenue forecast to surpass expectations by even more. But its stock recovered in premarket trading Thursday, and Wedbush analyst Dan Ives said it was another “flawless” profit report provided by Nvidia and CEO Jensen Huang, whom Ives calls “the Godfather of AI.” How Nvidia’s stock performs has tremendous impact because it’s quickly grown into Wall Street’s most valuable company at roughly $3.6 trillion. Its meandering up and down through the day dragged the S&P 500 and other indexes back and forth. The frenzy around AI is sweeping up other stocks, and Snowflake jumped 32.3% after reporting stronger results for the latest quarter than analysts expected. The company, whose platform helps customers get a better view of all their silos of data and use AI, also reported stronger revenue growth than expected. BJ’S Wholesale Club rose 9.1% after likewise delivering a bigger profit than expected. That may help calm worries about how resilient U.S. shoppers can remain, given high prices across the economy and still-high interest rates. A day earlier, Target tumbled after reporting sluggish sales in the latest quarter and giving a dour forecast for the holiday shopping season. It followed Walmart , which gave a much more encouraging outlook. Nearly 90% of the stocks in the S&P 500 were also rising, and the gains were even bigger among smaller companies. The Russell 2000 index of smaller stocks jumped a market-leading 1.9%. Google’s parent company, Alphabet, helped keep indexes in check. It fell 5.5% after U.S. regulators asked a judge to break up the tech giant by forcing it to sell its industry-leading Chrome web browser. In a 23-page document filed late Wednesday, the U.S. Department of Justice called for sweeping punishments that would include restrictions preventing Android from favoring its own search engine. Regulators stopped short of demanding Google sell Android but left the door open to it if the company’s oversight committee continues to see evidence of misconduct. Drops for other Big Tech stocks also weighed on the market, including a 2.4% slide for Amazon. In stock markets abroad, shares of India’s Adani Enterprises plunged 22.6% Thursday after the U.S. charged founder Gautam Adani, 62, in a federal indictment with securities fraud and conspiracy to commit securities and wire fraud. The businessman and one of the world’s richest people is accused of duping investors by concealing that his company’s huge solar energy project on the subcontinent was being facilitated by an alleged bribery scheme. Indexes elsewhere in Asia and Europe were mixed. In the crypto market, bitcoin eclipsed $99,000 for the first time before easing back to roughly $98,250, according to CoinDesk. It’s more than doubled so far this year, and its climb has accelerated since Election Day. President-elect Donald Trump has pledged to make the country “the crypto capital of the planet” and create a “strategic reserve” of bitcoin. Bitcoin also got a boost after Gary Gensler, the chair of the Securities and Exchange Commission who has pushed for more protection for crypto investors, said he would step down in January . Bitcoin and related investments, of course, have a notorious history of big price swings in both directions. MicroStrategy, a company that's been raising cash expressly to buy bitcoin, saw an early gain of 14.6% for its stock on Thursday quickly disappear. It was most recently down 10.7%. In the oil market, a barrel of benchmark U.S. crude rose 2% to bring its gain for the week to 4.8%. Brent crude, the international standard, climbed 1.8%. Oil has been rising amid escalations in the Russia-Ukraine war. In the bond market, Treasury yields edged higher following some mixed reports on the U.S. economy. The yield on the 10-year Treasury rose to 4.43% from 4.41% late Wednesday. One report said fewer U.S. workers applied for unemployment benefits last week in the latest signal that the job market remains solid. Another report, though, said manufacturing in the mid-Atlantic region unexpectedly shrank. Sales of previously occupied homes, meanwhile, strengthened last month by more than expected. ___ AP Business Writers Matt Ott and Yuri Kageyama contributed. Stan Choe, The Associated PressSMITHS FALLS, ON , and NEW YORK , Dec. 2, 2024 /PRNewswire/ - Canopy Growth Corporation (" Canopy Growth ") (TSX: WEED) (NASDAQ: CGC ), a world-leading cannabis company dedicated to unleashing the power of cannabis to improve lives, and Acreage Holdings, Inc. (" Acreage ") (CSE: ACRG.A.U, ACRG.B.U)(OTCQX: ACRHF , ACRDF), a vertically integrated, multi-state operator of cannabis cultivation and retailing facilities in the U.S., are pleased to announce that it is anticipated that Canopy USA , LLC (" Canopy USA ") will complete its acquisition of Acreage on or around December 9, 2024 , subject to the satisfaction or waiver of closing conditions set out in the Arrangement Agreements (as defined below). Canopy Growth and Acreage are party to an arrangement agreement ‎dated April 18, 2019 , as amended (the " Fixed Share Arrangement ‎Agreement ")‎, relating to the proposed acquisition (the " Fixed Share ‎Acquisition ") of all issued and outstanding Class E subordinate voting shares of Acreage (the " Fixed Shares ") pursuant to a plan of ‎arrangement under the Business Corporations Act ( British Columbia ). The Fixed Share Acquisition is anticipated to occur immediately after the acquisition ‎of the Class D subordinate voting shares of Acreage (the " Floating Shares ") pursuant to a plan of ‎arrangement under the Business Corporations Act ( British Columbia ) in accordance with the arrangement agreement (the " Floating Share Arrangement ‎Agreement " together with the Fixed Share Arrangement Agreement, the " Arrangement Agreements ") dated October 24, 2022 , as amended, among Canopy Growth, Acreage and Canopy ‎USA (together with the Fixed Share Acquisition, the " Acquisitions "). Upon the closing of the Acquisitions, Canopy USA will own 100% of the issued ‎and outstanding shares of Acreage.‎ As previously announced by Acreage, if the price of the common shares of Canopy Growth (the " Canopy Shares ") on the Nasdaq does not go above US$5.00 prior to closing of the Acquisitions (calculated in the manner prescribed in the Fixed Share Arrangement Agreement), holders of Fixed Shares will not receive any consideration in exchange for their Fixed Shares. A letter of transmittal with respect to the Fixed Share Acquisition and the Floating Share Acquisition will be mailed to registered Acreage shareholders. The letters of transmittal have been filed by Acreage under Acreage's profile on SEDAR+ at www.sedarplus.ca and with the U.S. Securities and Exchange Commission through EDGAR at www.sec.gov/edgar. All registered Acreage shareholders with physical certificate(s) or DRS statement(s) will be required to send their certificate(s) or DRS statement(s) representing their Fixed Shares and/or Floating Shares with a completed letter of transmittal to the Company's transfer agent, Odyssey Trust Company (" Odyssey "), in accordance with the instructions provided in the applicable letter of transmittal. Shareholders who hold their Fixed Shares and/or Floating Shares through a broker or other intermediary and do not have Acreage shares registered in their name will not need to complete the applicable letter(s) of transmittal. Such shareholders should contact their broker or other intermediary to arrange for the deposit of their DRS statement(s) or certificate(s) representing their Acreage shares. As a result of the labour dispute at Canada Post, registered Acreage shareholders are encouraged to contact Odyssey with any questions by email at [email protected] in the event that registered Acreage shareholders have not received copies of their DRS statement(s) or certificate(s) representing their Canopy Shares following the closing of the Acquisitions and completion and delivery of their letter of transmittal to Odyssey. Copies of the Floating Share Arrangement Agreement and the Fixed Share Arrangement Agreement may be accessed under Acreage's profile on SEDAR+ at www.sedarplus.ca and with the U.S. Securities and Exchange Commission through EDGAR at www.sec.gov/edgar . About Canopy Growth Canopy Growth is a world leading cannabis company dedicated to unleashing the power of cannabis to improve lives. Through an unwavering commitment to consumers, Canopy Growth delivers innovative products with a focus on premium and mainstream cannabis brands including Doja, 7ACRES, Tweed, and Deep Space, in addition to category defining vaporizer technology made in Germany by Storz & Bickel. Canopy Growth has also established a comprehensive ecosystem to realize the opportunities presented by the U.S. THC market through an unconsolidated, non-controlling interest in Canopy USA . Canopy USA has closed the acquisitions of approximately 77% of the shares of Lemurian, Inc. ("Jetty") and 100% of the Wana entities that make up Wana Brands , being Wana Wellness, LLC, The CIMA Group, LLC and Mountain High Products, LLC. Jetty owns and operates Jetty Extracts, a California -based producer of high- quality cannabis extracts and pioneer of clean vape technology, and Wana Brands is a leading North American edibles brand. The option to acquire Acreage, a vertically integrated multi-state cannabis operator with principal operations in densely populated states across the Northeast and Midwest, has also been exercised. Beyond its world-class products, Canopy Growth is leading the industry forward through a commitment to social equity, responsible use, and community reinvestment – pioneering a future where cannabis is understood and welcomed for its potential to help achieve greater well-being and life enhancement. For more information visit www.canopygrowth.com . About Acreage Acreage is a multi-state operator of cannabis ‎cultivation and retailing facilities in the U.S., including its national retail store ‎brand, The Botanist. With its principal address in New York City , Acreage's wide range of national and regionally available cannabis products include the award-winning brands The Botanist and Superflux , the Prime medical brand in Pennsylvania , and others. Acreage has focused on building and scaling operations to create a seamless, consumer-focused, branded experience. Learn more at www.acreageholdings.com . References to information included on, or accessible through, the Canopy Growth or Acreage website do not constitute incorporation by reference of the information contained at or available through such websites, and you should not consider such information to be part of this press release. Forward-Looking Statements This news release contains "forward-looking statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995 and "forward-looking information" within the meaning of applicable Canadian securities legislation. Often, but not always, forward-looking statements and information can be identified by the use of words such as "plans", "expects" or "does not expect", "is expected", "estimates", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved. Forward-looking statements or information involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Canopy Growth, Acreage or their respective subsidiaries to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements or information contained in this news release. Examples of such statements and uncertainties include statements with respect to the anticipated closing date of the Acquisitions, the price of the Canopy Shares, the consideration to be issued to the holders of Fixed Shares pursuant to the Fixed Share Acquisition, the satisfaction of the conditions set forth in the Fixed Share Arrangement Agreement and Floating Share Arrangement Agreement, and the closing of the Acquisitions. Risks, uncertainties and other factors involved with forward-looking information or statements could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information, including the ability of the parties to satisfy or waive, in a timely manner, the conditions to the completion of the Fixed Share Arrangement Agreement and the Floating Share ‎Arrangement Agreement; the ability of Canopy Growth, Acreage and Canopy USA to satisfy or waive, in a timely manner, the closing conditions set forth in the Fixed Share Arrangement Agreement and Floating Share Arrangement Agreement; risks relating to the value and liquidity of the Canopy Shares, the Fixed Shares and Floating Shares; the rights of the holders of Floating ‎Shares and Fixed Shares may differ materially from those of shareholders on Canopy Growth; negative operating cash flow; uncertainty of additional financing; use of proceeds; volatility in the price of the Canopy Shares, the Fixed Shares and the Floating Shares; expectations regarding future investment, growth and expansion of operations; regulatory and licensing risks; changes in general economic, business and political conditions, including changes in the financial and stock markets and the impacts of increased rates of inflation; legal and regulatory risks inherent in the cannabis industry, including the global regulatory landscape and enforcement related to cannabis; additional dilution; political risks and risks relating to regulatory change; risks relating to anti-money laundering laws; compliance with extensive government regulation and the interpretation of various laws regulations and policies; public opinion and perception of the cannabis industry; and such other risks contained in the public filings of Canopy Growth and Acreage filed with Canadian securities regulators and available under each of the Canopy Growth and Acreage profile on SEDAR+ at www.sedarplus.com and with the Securities and Exchange Commission through EDGAR at www.sec.gov/edgar , including under the heading "Risk Factors" in Canopy Growth's and Acreage's respective annual report on Form 10-K for the year ended March 31, 2024 and December 31, 2023 , respectively, and their subsequently filed quarterly reports on Form 10-Q. In respect of the forward-looking statements and information, Canopy Growth and Acreage have provided such statements and information in reliance on certain assumptions that they believe are reasonable at this time. Although Canopy Growth and Acreage believe that the assumptions and factors used in preparing the forward-looking information or forward-looking statements in this news release are reasonable, undue reliance should not be placed on such information or statements and no assurance can be given that such events will occur in the disclosed time frames or at all. Should one or more of the foregoing risks or uncertainties materialize, or should assumptions underlying the forward-looking information or statements prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, believed, estimated or expected. Although Canopy Growth and Acreage have attempted to identify important risks, uncertainties and factors which could cause actual results to differ materially, there may be others that cause results not to be as anticipated, estimated or intended. The forward-looking information and forward-looking statements included in this news release are made as of the date of this news release and neither Canopy Growth nor Acreage undertakes any obligation to publicly update such forward-looking information or forward-looking statements to reflect new information, subsequent events or otherwise unless required by applicable securities laws. SOURCE Canopy Growth Corporation

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Shares of Live Nation Entertainment Inc. .css-321ztr-OverridedLink.css-321ztr-OverridedLink:any-link{-webkit-text-decoration:none;text-decoration:none;color:rgba(54,119,168,1);border-bottom:1px solid;border-bottom-color:rgba(54,119,168,1);}.css-321ztr-OverridedLink.css-321ztr-OverridedLink:any-link.css-321ztr-OverridedLink.css-321ztr-OverridedLink:any-link svg{fill:rgba(54,119,168,1);}.css-321ztr-OverridedLink.css-321ztr-OverridedLink:any-link:hover{-webkit-text-decoration:none;text-decoration:none;color:rgba(47,112,157,1);border-bottom:1px solid;border-bottom-color:rgba(47,112,157,1);}.css-321ztr-OverridedLink.css-321ztr-OverridedLink:any-link:hover.css-321ztr-OverridedLink.css-321ztr-OverridedLink:any-link:hover svg{fill:rgba(47,112,157,1);} .css-1vykwuz-OverridedLink{display:inline;color:var(--color-interactiveLink010);-webkit-text-decoration:underline;text-decoration:underline;}@media screen and (prefers-reduced-motion: no-preference){.css-1vykwuz-OverridedLink{transition-property:color,fill;transition-duration:200ms,200ms;transition-timing-function:cubic-bezier(0, 0, .5, 1),cubic-bezier(0, 0, .5, 1);}}@media screen and (prefers-reduced-motion: reduce){.css-1vykwuz-OverridedLink{transition-property:color,fill;transition-duration:0ms;transition-timing-function:cubic-bezier(0, 0, .5, 1),cubic-bezier(0, 0, .5, 1);}}.css-1vykwuz-OverridedLink svg{fill:var(--color-interactiveLink010);}.css-1vykwuz-OverridedLink:hover:not(:disabled){color:var(--color-interactiveLink020);-webkit-text-decoration:underline;text-decoration:underline;}.css-1vykwuz-OverridedLink:hover:not(:disabled) svg{fill:var(--color-interactiveLink020);}.css-1vykwuz-OverridedLink:active:not(:disabled){color:var(--color-interactiveLink030);-webkit-text-decoration:underline;text-decoration:underline;}.css-1vykwuz-OverridedLink:active:not(:disabled) svg{fill:var(--color-interactiveLink030);}.css-1vykwuz-OverridedLink:visited:not(:disabled){color:var(--color-interactiveVisited010);-webkit-text-decoration:underline;text-decoration:underline;}.css-1vykwuz-OverridedLink:visited:not(:disabled) svg{fill:var(--color-interactiveVisited010);}.css-1vykwuz-OverridedLink:visited:hover:not(:disabled){color:var(--color-interactiveVisited010);-webkit-text-decoration:underline;text-decoration:underline;}.css-1vykwuz-OverridedLink:visited:hover:not(:disabled) svg{fill:var(--color-interactiveVisited010);}.css-1vykwuz-OverridedLink:focus-visible:not(:disabled){outline-color:var(--outlineColorDefault);outline-style:var(--outlineStyleDefault);outline-width:var(--outlineWidthDefault);outline-offset:var(--outlineOffsetDefault);}@media not all and (min-resolution: 0.001dpcm){@supports (-webkit-appearance: none) and (stroke-color: transparent){.css-1vykwuz-OverridedLink:focus-visible:not(:disabled){outline-style:var(--safariOutlineStyleDefault);}}}.css-1vykwuz-OverridedLink.css-1vykwuz-OverridedLink:any-link{-webkit-text-decoration:none;text-decoration:none;color:rgba(54,119,168,1);border-bottom:1px solid;border-bottom-color:rgba(54,119,168,1);}.css-1vykwuz-OverridedLink.css-1vykwuz-OverridedLink:any-link.css-1vykwuz-OverridedLink.css-1vykwuz-OverridedLink:any-link svg{fill:rgba(54,119,168,1);}.css-1vykwuz-OverridedLink.css-1vykwuz-OverridedLink:any-link:hover{-webkit-text-decoration:none;text-decoration:none;color:rgba(47,112,157,1);border-bottom:1px solid;border-bottom-color:rgba(47,112,157,1);}.css-1vykwuz-OverridedLink.css-1vykwuz-OverridedLink:any-link:hover.css-1vykwuz-OverridedLink.css-1vykwuz-OverridedLink:any-link:hover svg{fill:rgba(47,112,157,1);} LYV slipped 0.35% to $137.76 Monday, on what proved to be an all-around mixed trading session for the stock market, with the S&P 500 Index SPX rising 0.24% to 6,047.15 and the Dow Jones Industrial Average DJIA falling 0.29% to 44,782.00. This was the stock's second consecutive day of losses.