777kyat slot game online login
777kyat slot game online login
( MENAFN - EIN Presswire) Automotive Digital Cockpit Global market Report 2024 - Market Size, Trends, And Global Forecast 2024-2033 The Business Research Company's Early Year-End Sale! Get up to 30% off detailed market research reports-for a limited time only! LONDON, GREATER LONDON, UNITED KINGDOM, December 17, 2024 /EINPresswire / -- The Business Research Company's Early Year-End Sale! Get up to 30% off detailed market research reports-limited time only! The global automotive digital cockpit market is experiencing a period of rapid expansion. From $23.82 billion in 2023, the market is projected to grow to $26.52 billion in 2024, with a compound annual growth rate CAGR of 11.3%. This upwards trajectory can be traced, in part, to consumer demand for connectivity, the pleasure of in-car entertainment, the enforcement of government regulations, competitive differentiation, and the globalization of automotive markets. The automotive digital cockpit market size is expected to see rapid growth in the next few years. It will grow to $39.85 billion in 2028 at a compound annual growth rate (CAGR) of 10.7%. The growth in the forecast period can be attributed to cybersecurity concerns, health and wellness monitoring, rise of mobility-as-a-service (MaaS), sustainable mobility, smart city integration. Major trends in the forecast period include advanced driver-assistance systems, augmented reality (AR) head-up displays (HUDs), customization and personalization, digital assistants and voice recognition, integration of biometric sensors, haptic feedback and touch controls. What are the major driving forces behind the vast expansion of the automotive digital cockpit market? One driver is the rising proliferation of connected vehicles. As cars become more akin to 'computers on wheels,' owing to onboard connectivity systems that enable internet access and wireless connections to other devices, the role of the digital cockpit intensifies. The digital cockpit is becoming a fundamental feature as it assists connected vehicles in unlocking future connected car experiences. Scania, a Sweden-based manufacturing company, reported in March 2022 that around 560,000 of its vehicles equivalent to 64% of its 10-year rolling fleet were connected, with the number increasing rapidly. This rise in connected vehicles looks set to fuel the further expansion of the automotive digital cockpit market. Perceive Comprehensive Insights Into The Automotive Digital Cockpit Market With A Detailed Sample Report: Which are the key industry players shaping the future of the automotive digital cockpit market? A slew of major companies are operating in the automotive digital cockpit market, including Volkswagen Group, Bayerische Motoren Werke AG, Daimler AG, Robert Bosch GmbH, Pioneer Corporation, LG Electronics Inc., and Panasonic Corporation, among others. These companies are constantly striving to maintain their competitive edge, often through innovation and the development of advanced technologies. What is the projected value of the automotive digital cockpit market in the coming years? The automotive digital cockpit market is projected to continue its rapid growth trajectory, reaching an estimated $39.85 billion in 2028, with a CAGR of 10.7%. This forecasted growth is attributed to emerging trends such as cybersecurity concerns, the incorporation of health and wellness monitoring, the rise of Mobility-as-a-Service MaaS, the drive towards sustainable mobility, and integration with smart cities. Prep your early strategies with the full report: Which digital trends are poised to redefine the future of the automotive digital cockpit? Emerging technologies are significantly influencing the automotive digital cockpit market. Here, industry players are training their focus on technological innovations such as 5G low latency technologies, to maintain their industry dominance. Canalys, a technology market analyst firm headquartered in Singapore, recently rolled out the Digital Cockpit Analysis service, which envisions future cars as autonomous, connected, electric, and heavily reliant on software. The in-car experience is being reimagined around a digital cockpit and an automotive OS, integrating elements like instrument clusters, infotainment, navigation, and proactive AI, among others, using multi-modal interfaces on a single platform. How is the global automotive digital cockpit market segmented? The automotive digital cockpit market report segments the market in several ways: 1 By Vehicle Type: These include Passenger Vehicles and Commercial Vehicles 2 By Equipment: This encompasses the Digital Instrument Cluster, Driving Monitoring System, and Heads-Up Display 3 By Display: This includes LCD, TFT-LCD, OLED An Insight into Regional Perspective of the Automotive Digital cockpit Market: Asia-Pacific was the most prominent region in the automotive digital cockpit market in 2023. However, the market findings also extend to other regions such as Western Europe, Eastern Europe, North America, South America, Middle East, and Africa. Browse Through More Similar Reports By The Business Research Company: Monitor Global Market Report 2024 Digital Signage Global Market Report 2024 Battlefield Management System Global Market Report 2024 About The Business Research Company Learn More About The Business Research Company. With over 15000+ reports from 27 industries covering 60+ geographies, The Business Research Company has built a reputation for offering comprehensive, data-rich research and insights. Armed with 1,500,000 datasets, the optimistic contribution of in-depth secondary research, and unique insights from industry leaders, you can get the information you need to stay ahead in the game. For more information, please contact us at: The Business Research Company: Americas +1 3156230293 Asia +44 2071930708 Europe +44 2071930708 Email: ... Follow us on: LinkedIn: YouTube: Global Market Model: global-market-model Experience the power of truly comprehensive market intelligence with The Business Research Company. Oliver Guirdham The Business Research Company +44 20 7193 0708 email us here Visit us on social media: Facebook X LinkedIn Legal Disclaimer: EIN Presswire provides this news content "as is" without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the author above. MENAFN17122024003118003196ID1109005251 Legal Disclaimer: MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.KUWAIT: Zain Group, a leading provider of innovative technologies and digital lifestyle and ICT solutions operating in eight markets across the Middle East and Africa, announces the end of another successful year for Zain Esports, the e-gaming arm of the Group. During 2024, Zain Esports undertook 50 tournaments and activations across Zain operations in Kuwait, Saudi Arabia, Bahrain, Jordan, and Iraq. Since first launching in 2021, Zain Esports has attracted around 70,000 participants and garnered over 160 million social media impressions regionally. Moreover, Zain Esports currently has 210,000 social media followers and during 2024, over 820,000 unique viewers watched Zain Esports tournaments streamed live on Twitch and YouTube. Zain has invested heavily in network upgrades in recent years, with gaming being one of the most significant business use cases for 5G and fiber-to-the-home (FTTH). Zain was able to identify this opportunity early on, working to cultivate the e-gaming community across the Middle East in general, and within its markets of operation in particular. This investment in network and resources has resulted in the development of a vibrant e-gaming ecosystem across regional markets, with Zain Esports leading and involved in multiple gaming activities centered around the main esports titles, namely Fortnite, Counter Strike, Call of Duty, PUBG Mobile, League of Legends, FC 24 (previously FIFA), Valorant, etc: Region wide: Notably during 2024, Zain Esports partnered with Riot games in more than 15 venues across eight countries to launch the League of Legend MENA servers that saw more than five-thousand gamers participate and received more than 45 million impressions. Kuwait: Zain Esports conducted multiple offline FC (football) tournaments in Kuwait throughout 2024 with hundreds of gamers competing in the 62 matches that were played. Saudi Arabia- Zain Esports local arm PLAYHERA continued to support the Saudi gaming system Bahrain - Zain Esports partnered with universities to launch the Zain University League within the Kingdom, seeing more than 300 up and coming gamers participate in various tournaments and workshops held in the recently established Zain Esports Lab within the Zain HQ offices. Jordan - Zain partnered with the First Jordan Gaming and Esports Summit, as well as being the main sponsor of the Jordanian Esports Federation- collaborating in multiple tournaments across the year. Zain Esports in Jordan holds regular activations at its new state-of-the-art venue, the Dome, in partnership with gamerg.gg, a Jordanian esports company specializing in tournament organization. Iraq - Zain Esports participated in the Esports World Cup 2024 Tekken 8 held in Riyadh, Saudi Arabia. Additionally, Zain Esports in Iraq was a strategic partner of the Iraq International Information & Telecommunication Technology Expo (ITEX), supporting its monthly events of esports tournaments. Malek Hammoud, Zain Group Chief Investment and Digital Officer said, “Gamers around the world are a passionate community, and in the Middle East this is no different. Zain remains committed to supporting the growth and development of this exciting, often youth-oriented activity, and we are extremely grateful to our partners and collaborators with whom we organize events, which capture the imagination and translate into successful opportunities for Zain Esports. All our stakeholders are impressed in how Zain Esports has evolved to become an integral part of the Zain’s data services across our footprint, with its popularity and reach having a positive impact on brand recognition and customer acquisition.” Beyond the brand and financial benefits accruing from participating in online gaming for the players, Zain’s activities in this area support operating companies to connect with the gaming community and provide data and similar high-value services. Spectators are also able watch the gaming and content live over Zain Esports social media channels, predominantly Twitch and YouTube, as well as over regular posts on Instagram, Facebook, Twitter, and LinkedIn. With the continual investments in 5G and FTTH network upgrades across its markets, Zain Esports will be empowered to offer more appealing activities and competitions in gaming during 2025 and beyond.For many people, the slaying of UnitedHealthcare CEO Brian Thompson became a tale of just deserts even before police found evidence the killer saw him not as a man but as a symbol of injustice. In the minds of those people, I wonder: Which paycheck did Thompson get that made his life expendable? Or after which of his seven promotions did he stop being a person with a successful career and come to represent the problems with American health insurance? Social media and the comments sections of news stories covering Thompson’s slaying in New York filled with vitriol Wednesday and Thursday. Nearly all of it was aimed at Thompson, Minnetonka-based UnitedHealth and the broader insurance industry, rather than the killer. Often, these commenters made puns or other references to insurance industry lingo. In one such example, a commenter with the handle “Nate” wrote on a TikTok post about the news, “Unfortunately my condolences are out of network.” This absence of empathy for people is happening so often now that it doesn’t even qualify for the cliché “shocking but not surprising” descriptor. We see it after mass shootings at schools, after the attempted assassination of Donald Trump or even when Gus Walz cheered his father Gov. Tim Walz at the Democratic National Convention. It happens in countless more mundane moments; many college and pro athletes have had mistakes dissected and mocked on social media. I’m not a big user of social media. I can’t express myself well on X or TikTok. I know that the majority of Americans do not use those platforms and I believe that too many of their users, including journalists, think social media is more representative of public sentiment than it is. Meanwhile, as evident as the anger at Thompson and UnitedHealth is on those platforms, so have there also been expressions of sympathy for Thompson’s family and the company. And there were some public critics of insurers, including doctors, who appeared on social media explaining that Thompson is simply doing his job and that the financial ails of health care and insurance are far bigger than any individual can influence. All that said, I’ve never seen such a display of s chadenfreude for a business executive’s death. Thompson was not well known outside the industry. He was relatively anonymous even in the Twin Cities, hardly ever pictured in the Star Tribune or other local media. He was not even the top figure at UnitedHealth Group. As I wrote this on Thursday afternoon, the shooter was still at large and the only thing known about him is that he appears to be a white male with a calm authority around guns. Police on Thursday morning, a day after the shooting, announced they found bullet casings that were inscribed “deny” and “delay,” words that tend to represent rejection in regards to insurance claims. That only reinforced the comparison by some social media posters of the shooter to Robin Hood, the fictional character who “stole from the rich and gave to the poor.” “The elites have been warned. If you keep taking and taking and taking,” said a woman with the handle “Allegra” on TikTok. “History has shown us that the peasants are going to eventually revolt,” she added, making the air-quotes gesture as she said “peasants.” It’s risky to make too much of this harshness, or what the New York Times on Thursday called “a torrent of hate,” so soon after the shooting and with so much about it unknown. If there’s any signal to be found in the noise, however, it’s that many Americans feel powerless about one of the most important services in their life — health care. And some feel so powerless about it that they are willing to shunt aside good manners and simple decency to lash out over a tragedy. It is not surprising that UnitedHealthcare is a prime target for that anger. The company is not just the nation’s largest health insurer, it is also the one that denies the most health claims, nearly 1 out of 3 , according to Value Penguin, a financial advice site operated by Lending Tree. Many Americans have had difficulties getting reimbursements from insurers. They are also seeing insurers pull back on coverage. Earlier this week, for instance, Anthem Blue Cross Blue Shield said it would limit the amount of time it’ll pay for anesthesia during surgeries and medical procedures in Connecticut, New York and Missouri. And all through this year, hospital systems around the country opted out of Medicare Advantage networks set up by big insurers. The tensions between the American health system and its users are evident. Is this a moment when the participants will listen to the anger? It may not be. Killing people and acting out rudely online seem unlikely paths to progress.
By Steve Holland and Alexandra Ulmer -President-elect Donald Trump is expected to pick prominent investor Scott Bessent to take on the role of U.S. Treasury secretary, sources told Reuters on Friday, putting him at the helm of a cabinet position with vast influence over economic, regulatory and international affairs. One source briefed by the Trump transition team and a donor briefed on the plans told Reuters of Trump's intention to pick Bessent. The Trump transition team did not immediately respond to a request for comment. Wall Street has been closely watching who Trump will pick, especially given his plans to remake global trade through tariffs. Bessent was picked from a crowded field of candidates for the coveted role. That list included Apollo Global Management Chief Executive Marc Rowan and former Federal Reserve Governor Kevin Warsh. Investor John Paulson had also been a leading candidate, but dropped out while Wall Street veteran Howard Lutnick, another contender, was appointed as head of the Commerce Department. Bessent has advocated for tax reform and deregulation, particularly to spur more bank lending and energy production, as noted in a recent opinion piece he wrote for The Wall Street Journal. The market's surge after Trump's election victory, he wrote, signaled investor "expectations of higher growth, lower volatility and inflation, and a revitalized economy for all Americans." Bessent follows other financial luminaries who have taken the job, including former Goldman Sachs executives Robert Rubin, Hank Paulson and Steven Mnuchin, Trump's first Treasury chief. Janet Yellen, the current secretary and first woman in the job, previously chaired the Federal Reserve and White House Council of Economic Advisers. ECONOMY'S QUARTERBACK As the 79th Treasury secretary, Bessent would essentially be the highest-ranking U.S. economic official, responsible for maintaining the plumbing of the world's largest economy, from collecting taxes and paying the nation's bills to managing the $28.6-trillion Treasury debt market and overseeing financial regulation, including handling and preventing market crises. The Treasury boss also runs U.S. financial sanctions policy, oversees the U.S.-led International Monetary Fund, World Bank and other international financial institutions, and manages national security screenings of foreign investments in the U.S. Bessent would face challenges, including safely managing federal deficits that are forecast to grow by nearly $8 trillion over a decade due to Trump's plans to extend expiring tax cuts next year and add generous new breaks, including ending taxes on Social Security income. Without offsetting revenues, this new debt would add to an unsustainable fiscal trajectory already forecast to balloon U.S. debt by $22 trillion through 2033. Managing debt increases this large without market indigestion will be a challenge, though Bessent has argued Trump's agenda would unleash stronger economic growth that would grow revenue and shore up market confidence. Bessent would also inherit the role carved out by Yellen to lead the Group of Seven wealthy democracies to provide tens of billions of dollars in economic support for Ukraine in its fight against Russia's invasion and tighten sanctions on Moscow. But given Trump's desire to end the war quickly and withdraw U.S. financial support for Ukraine, it is unclear whether he would pursue this. Another area where Bessent will likely differ from Yellen is her focus on climate change, from her mandate that development banks expand lending for clean energy to incorporating climate risks into financial regulations and managing hundreds of billions of dollars in clean energy tax credits. Trump, a climate-change skeptic, has vowed to increase production of U.S. fossil fuel energy and end the clean-energy subsidies in President Joe Biden's 2022 Inflation Reduction Act. FED FACING The Treasury secretary is also the administration’s closest point of contact with the Federal Reserve. Both Yellen under Biden and Mnuchin under Trump typically met weekly with Fed Chair Jerome Powell, often over breakfast or lunch. Bessent has floated the idea of creating a “shadow” Fed chair. This would entail nominating as early as possible a presumptive Powell predecessor to the Fed Board who would then deliver their own policy guidance so that, as Bessent told Barron’s last month, "no one is really going to care what Jerome Powell has to say anymore." The next seat to open up at the Fed Board is that of Governor Adriana Kugler, whose term runs to January 2026. Bessent has since said he no longer thinks the idea of a shadow chair worth pursuing, the Wall Street Journal reported. Powell's term as Fed chair expires in May 2026, and presidents rarely wait until the Fed chief's term ends before nominating a successor. FROM FINANCE TO DC Bessent, 62, primarily lives in Charleston, South Carolina with his husband and two children. He grew up in the fishing village of Little River, South Carolina, where Bessent has said his father, a real estate investor, experienced booms and busts. Bessent worked for noted short seller Jim Chanos in the late 1980s and then joined Soros Fund Management, the famed macroeconomic investment firm of billionaire George Soros. He soon helped Soros and top deputy Stanley Druckenmiller on their most famous trade - shorting the British pound in 1992 and earning the firm more than $1 billion. In 2015, Bessent raised $4.5 billion, including $2 billion from Soros, to launch Key Square Group, a hedge fund firm that bets on macroeconomic trends. Key Square's main fund gained about 31% in 2022, according to media reports, but firm assets have declined to approximately $577 million as of December 2023, according to a regulatory filing. This article was generated from an automated news agency feed without modifications to text.
FWP looks at changes to bighorn sheep hunting reporting requirementMondelēz International Moves to Amazon Web Services to Advance Its Digital and Growth Strategy
Stanley Druckenmiller has a winning track record that is the envy of many of his fellow fund managers. From betting on and against currencies to going long on stocks, bonds, and commodities, his investment strategy has never been beholden to a single asset class. Here’s how Druckenmiller made his fortune over the past four decades — and how much he’s worth now, almost 15 years into his retirement from client money management. Javascript is required for you to be able to read premium content. Thanks for the feedback.ATLANTA — Jimmy Carter, the peanut farmer who won the presidency in the wake of the Watergate scandal and Vietnam War, endured humbling defeat after one tumultuous term and then redefined life after the White House as a global humanitarian, has died. He was 100 years old. The longest-lived American president died on Sunday, more than a year after entering hospice care , at his home in the small town of Plains, Georgia, where he and his wife, Rosalynn, who died at 96 in November 2023 , spent most of their lives, The Carter Center said. “Our founder, former U.S. President Jimmy Carter, passed away this afternoon in Plains, Georgia,” the center said in posting about his death on the social media platform X. It added in a statement that he died peacefully, surrounded by his family. Businessman, Navy officer, evangelist, politician, negotiator, author, woodworker, citizen of the world — Carter forged a path that still challenges political assumptions and stands out among the 45 men who reached the nation’s highest office. The 39th president leveraged his ambition with a keen intellect, deep religious faith and prodigious work ethic, conducting diplomatic missions into his 80s and building houses for the poor well into his 90s. “My faith demands — this is not optional — my faith demands that I do whatever I can, wherever I am, whenever I can, for as long as I can, with whatever I have to try to make a difference,” Carter once said. Carter John Amis, Associated Press A moderate Democrat, Carter entered the 1976 presidential race as a little-known Georgia governor with a broad smile, outspoken Baptist mores and technocratic plans reflecting his education as an engineer. His no-frills campaign depended on public financing, and his promise not to deceive the American people resonated after Richard Nixon’s disgrace and U.S. defeat in southeast Asia. “If I ever lie to you, if I ever make a misleading statement, don’t vote for me. I would not deserve to be your president,” Carter repeated before narrowly beating Republican incumbent Gerald Ford, who had lost popularity pardoning Nixon. Carter governed amid Cold War pressures, turbulent oil markets and social upheaval over racism, women’s rights and America’s global role. His most acclaimed achievement in office was a Mideast peace deal that he brokered by keeping Egyptian President Anwar Sadat and Israeli Prime Minister Menachem Begin at the bargaining table for 13 days in 1978. That Camp David experience inspired the post-presidential center where Carter would establish so much of his legacy. Yet Carter’s electoral coalition splintered under double-digit inflation, gasoline lines and the 444-day hostage crisis in Iran. His bleakest hour came when eight Americans died in a failed hostage rescue in April 1980, helping to ensure his landslide defeat to Republican Ronald Reagan. Carter acknowledged in his 2020 “White House Diary” that he could be “micromanaging” and “excessively autocratic,” complicating dealings with Congress and the federal bureaucracy. He also turned a cold shoulder to Washington’s news media and lobbyists, not fully appreciating their influence on his political fortunes. “It didn’t take us long to realize that the underestimation existed, but by that time we were not able to repair the mistake,” Carter told historians in 1982, suggesting that he had “an inherent incompatibility” with Washington insiders. Carter insisted his overall approach was sound and that he achieved his primary objectives — to “protect our nation’s security and interests peacefully” and “enhance human rights here and abroad” — even if he fell spectacularly short of a second term. FILE - From left, President Barack Obama, former President Jimmy Carter, first lady Michelle Obama and former President Bill Clinton wave from the Lincoln Memorial in Washington during a celebration of the 50th anniversary of the March on Washington where Martin Luther King Jr. spoke, Aug. 28, 2013. Ignominious defeat, though, allowed for renewal. The Carters founded The Carter Center in 1982 as a first-of-its-kind base of operations, asserting themselves as international peacemakers and champions of democracy, public health and human rights. “I was not interested in just building a museum or storing my White House records and memorabilia,” Carter wrote in a memoir published after his 90th birthday. “I wanted a place where we could work.” That work included easing nuclear tensions in North and South Korea, helping to avert a U.S. invasion of Haiti and negotiating cease-fires in Bosnia and Sudan. By 2022, The Carter Center had declared at least 113 elections in Latin America, Asia and Africa to be free or fraudulent. Recently, the center began monitoring U.S. elections as well. Carter’s stubborn self-assuredness and even self-righteousness proved effective once he was unencumbered by the Washington order, sometimes to the point of frustrating his successors . He went “where others are not treading,” he said, to places like Ethiopia, Liberia and North Korea, where he secured the release of an American who had wandered across the border in 2010. “I can say what I like. I can meet whom I want. I can take on projects that please me and reject the ones that don’t,” Carter said. He announced an arms-reduction-for-aid deal with North Korea without clearing the details with Bill Clinton’s White House. He openly criticized President George W. Bush for the 2003 invasion of Iraq. He also criticized America’s approach to Israel with his 2006 book “Palestine: Peace Not Apartheid.” And he repeatedly countered U.S. administrations by insisting North Korea should be included in international affairs, a position that most aligned Carter with Republican President Donald Trump. Among the center’s many public health initiatives, Carter vowed to eradicate the guinea worm parasite during his lifetime, and nearly achieved it: Cases dropped from millions in the 1980s to nearly a handful. With hardhats and hammers, the Carters also built homes with Habitat for Humanity. The Nobel committee’s 2002 Peace Prize cites his “untiring effort to find peaceful solutions to international conflicts, to advance democracy and human rights, and to promote economic and social development.” Carter should have won it alongside Sadat and Begin in 1978, the chairman added. Carter accepted the recognition saying there was more work to be done. “The world is now, in many ways, a more dangerous place,” he said. “The greater ease of travel and communication has not been matched by equal understanding and mutual respect.” FILE - Jimmy Carter gives his acceptance speech after accepting the Democratic nomination for president on the convention floor, July 15, 1976, at New York's Madison Square Garden. Carter’s globetrotting took him to remote villages where he met little “Jimmy Carters,” so named by admiring parents. But he spent most of his days in the same one-story Plains house — expanded and guarded by Secret Service agents — where they lived before he became governor. He regularly taught Sunday School lessons at Maranatha Baptist Church until his mobility declined and the coronavirus pandemic raged. Those sessions drew visitors from around the world to the small sanctuary where Carter will receive his final send-off after a state funeral at Washington’s National Cathedral. The common assessment that he was a better ex-president than president rankled Carter and his allies. His prolific post-presidency gave him a brand above politics, particularly for Americans too young to witness him in office. But Carter also lived long enough to see biographers and historians reassess his White House years more generously. His record includes the deregulation of key industries, reduction of U.S. dependence on foreign oil, cautious management of the national debt and notable legislation on the environment, education and mental health. He focused on human rights in foreign policy, pressuring dictators to release thousands of political prisoners . He acknowledged America’s historical imperialism, pardoned Vietnam War draft evaders and relinquished control of the Panama Canal. He normalized relations with China. “I am not nominating Jimmy Carter for a place on Mount Rushmore,” Stuart Eizenstat, Carter’s domestic policy director, wrote in a 2018 book. “He was not a great president” but also not the “hapless and weak” caricature voters rejected in 1980, Eizenstat said. Rather, Carter was “good and productive” and “delivered results, many of which were realized only after he left office.” Madeleine Albright, a national security staffer for Carter and Clinton’s secretary of state, wrote in Eizenstat’s forward that Carter was “consequential and successful” and expressed hope that “perceptions will continue to evolve” about his presidency. “Our country was lucky to have him as our leader,” said Albright, who died in 2022. Jonathan Alter, who penned a comprehensive Carter biography published in 2020, said in an interview that Carter should be remembered for “an epic American life” spanning from a humble start in a home with no electricity or indoor plumbing through decades on the world stage across two centuries. “He will likely go down as one of the most misunderstood and underestimated figures in American history,” Alter told The Associated Press. FILE - President Jimmy Carter and first lady Rosalynn Carter are pictured with their daughter Amy at the first of seven inaugural balls in Washington, Jan. 20, 1977, at the Pension Building. Listen now and subscribe: Apple Podcasts | Spotify | RSS Feed | SoundStack | All Of Our Podcasts James Earl Carter Jr. was born Oct. 1, 1924, in Plains and spent his early years in nearby Archery. His family was a minority in the mostly Black community, decades before the civil rights movement played out at the dawn of Carter’s political career. Carter, who campaigned as a moderate on race relations but governed more progressively, talked often of the influence of his Black caregivers and playmates but also noted his advantages: His land-owning father sat atop Archery’s tenant-farming system and owned a main street grocery. His mother, Lillian , would become a staple of his political campaigns. Seeking to broaden his world beyond Plains and its population of fewer than 1,000 — then and now — Carter won an appointment to the U.S. Naval Academy, graduating in 1946. That same year he married Rosalynn Smith, another Plains native, a decision he considered more important than any he made as head of state. She shared his desire to see the world, sacrificing college to support his Navy career. Carter climbed in rank to lieutenant, but then his father was diagnosed with cancer, so the submarine officer set aside his ambitions of admiralty and moved the family back to Plains. His decision angered Rosalynn, even as she dived into the peanut business alongside her husband. Carter again failed to talk with his wife before his first run for office — he later called it “inconceivable” not to have consulted her on such major life decisions — but this time, she was on board. “My wife is much more political,” Carter told the AP in 2021. He won a state Senate seat in 1962 but wasn’t long for the General Assembly and its back-slapping, deal-cutting ways. He ran for governor in 1966 — losing to arch-segregationist Lester Maddox — and then immediately focused on the next campaign. Carter had spoken out against church segregation as a Baptist deacon and opposed racist “Dixiecrats” as a state senator. Yet as a local school board leader in the 1950s he had not pushed to end school segregation even after the Supreme Court's Brown v. Board of Education decision, despite his private support for integration. And in 1970, Carter ran for governor again as the more conservative Democrat against Carl Sanders, a wealthy businessman Carter mocked as “Cufflinks Carl.” Sanders never forgave him for anonymous, race-baiting flyers, which Carter disavowed. Ultimately, Carter won his races by attracting both Black voters and culturally conservative whites. Once in office, he was more direct. “I say to you quite frankly that the time for racial discrimination is over,” he declared in his 1971 inaugural address, setting a new standard for Southern governors that landed him on the cover of Time magazine. FILE - President Jimmy Carter leans across the roof of his car to shake hands along the parade route through Bardstown, Ky., July 31, 1979. The president climbed on top of the car as the parade moved toward the high school gym, where a town meeting was held. His statehouse initiatives included environmental protection, boosting rural education and overhauling antiquated executive branch structures. He proclaimed Martin Luther King Jr. Day in the slain civil rights leader’s home state. And he decided, as he received presidential candidates in 1972, that they were no more talented than he was. In 1974, he ran Democrats’ national campaign arm. Then he declared his own candidacy for 1976. An Atlanta newspaper responded with the headline: “Jimmy Who?” The Carters and a “Peanut Brigade” of family members and Georgia supporters camped out in Iowa and New Hampshire, establishing both states as presidential proving grounds. His first Senate endorsement: a young first-termer from Delaware named Joe Biden. Yet it was Carter’s ability to navigate America’s complex racial and rural politics that cemented the nomination. He swept the Deep South that November, the last Democrat to do so, as many white Southerners shifted to Republicans in response to civil rights initiatives. A self-declared “born-again Christian,” Carter drew snickers by referring to Scripture in a Playboy magazine interview, saying he “had looked on many women with lust. I’ve committed adultery in my heart many times.” The remarks gave Ford a new foothold and television comedians pounced — including NBC’s new “Saturday Night Live” show. But voters weary of cynicism in politics found it endearing. Carter chose Minnesota Sen. Walter “Fritz” Mondale as his running mate on a “Grits and Fritz” ticket. In office, he elevated the vice presidency and the first lady’s office. Mondale’s governing partnership was a model for influential successors Al Gore, Dick Cheney and Biden. Rosalynn Carter was one of the most involved presidential spouses in history, welcomed into Cabinet meetings and huddles with lawmakers and top aides. The Carters presided with uncommon informality: He used his nickname “Jimmy” even when taking the oath of office, carried his own luggage and tried to silence the Marine Band’s “Hail to the Chief.” They bought their clothes off the rack. Carter wore a cardigan for a White House address, urging Americans to conserve energy by turning down their thermostats. Amy, the youngest of four children, attended District of Columbia public school. Washington’s social and media elite scorned their style. But the larger concern was that “he hated politics,” according to Eizenstat, leaving him nowhere to turn politically once economic turmoil and foreign policy challenges took their toll. FILE - Former President Jimmy Carter uses a hand saw to even an edge as he works on a Habitat for Humanity home in Pikeville, Ky., June 16, 1997. Carter partially deregulated the airline, railroad and trucking industries and established the departments of Education and Energy, and the Federal Emergency Management Agency. He designated millions of acres of Alaska as national parks or wildlife refuges. He appointed a then-record number of women and nonwhite people to federal posts. He never had a Supreme Court nomination, but he elevated civil rights attorney Ruth Bader Ginsburg to the nation’s second highest court, positioning her for a promotion in 1993. He appointed Paul Volker, the Federal Reserve chairman whose policies would help the economy boom in the 1980s — after Carter left office. He built on Nixon’s opening with China, and though he tolerated autocrats in Asia, pushed Latin America from dictatorships to democracy. But he couldn’t immediately tame inflation or the related energy crisis. And then came Iran. After he admitted the exiled Shah of Iran to the U.S. for medical treatment, the American Embassy in Tehran was overrun in 1979 by followers of the Ayatollah Ruhollah Khomeini. Negotiations to free the hostages broke down repeatedly ahead of the failed rescue attempt. The same year, Carter signed SALT II, the new strategic arms treaty with Leonid Brezhnev of the Soviet Union, only to pull it back, impose trade sanctions and order a U.S. boycott of the Moscow Olympics after the Soviets invaded Afghanistan. Hoping to instill optimism, he delivered what the media dubbed his “malaise” speech, although he didn’t use that word. He declared the nation was suffering “a crisis of confidence.” By then, many Americans had lost confidence in the president, not themselves. Carter campaigned sparingly for reelection because of the hostage crisis, instead sending Rosalynn as Sen. Edward M. Kennedy challenged him for the Democratic nomination. Carter famously said he’d “kick his ass,” but was hobbled by Kennedy as Reagan rallied a broad coalition with “make America great again” appeals and asking voters whether they were “better off than you were four years ago.” Reagan further capitalized on Carter’s lecturing tone, eviscerating him in their lone fall debate with the quip: “There you go again.” Carter lost all but six states and Republicans rolled to a new Senate majority. Carter successfully negotiated the hostages’ freedom after the election, but in one final, bitter turn of events, Tehran waited until hours after Carter left office to let them walk free. FILE - President-elect Jimmy Carter waves to the crowd as he and his wife Rosalynn arrive at the Plains Baptist Church to attend services in Plains, Ga., Nov. 22, 1976. At 56, Carter returned to Georgia with “no idea what I would do with the rest of my life.” Four decades after launching The Carter Center, he still talked of unfinished business. “I thought when we got into politics we would have resolved everything,” Carter told the AP in 2021. “But it’s turned out to be much more long-lasting and insidious than I had thought it was. I think in general, the world itself is much more divided than in previous years.” Still, he affirmed what he said when he underwent treatment for a cancer diagnosis in his 10th decade of life. “I’m perfectly at ease with whatever comes,” he said in 2015 . “I’ve had a wonderful life. I’ve had thousands of friends, I’ve had an exciting, adventurous and gratifying existence.” Former Associated Press journalist Alex Sanz contributed to this report. Jimmy Carter is shown at age 6, with his sister, Gloria, 4, in 1931 in Plains, Georgia. (AP Photo) ASSOCIATED PRESS This is a 1932 photo of Jimmy Carter at age 7 in Plains, Ga. (AP Photo) ASSOCIATED PRESS Lt. Jimmy Carter peers at instruments on submarine USS K-1 in a 1952 photo. Directly in front of Carter, smoking a cigar, is Don Dickson. He had forgotten he ever served with Carter until he came upon the photo during Christmas, 1977. A friend got it to the White House where Carter wrote: "To my friend Donald Dickson - Jimmy Carter, USS K-1 to White House." (AP Photo) ASSOCIATED PRESS FILE - In this Sept. 15, 1966 file photo, then Georgia State Sen. Jimmy Carter hugs his wife, Rosalynn, at his Atlanta campaign headquarters. Horace Cort Jimmy Carter, winner in Georgia's runoff primary in the Democratic Party to determine the party's candidate for the November election for governor, 1970. (AP Photo) Anonymous Former State Sen. Jimmy Carter listens to applause at the Capitol in Atlanta on April 3, 1970, after announcing his candidacy or governor. In background, his wife Rosalyn holds two-year-old daughter Amy who joined in the applause. Carter, 45, of Plains, Ga., finished third in the 1966 Democratic Primary behind Gov. Lester Maddox and Ellis Arnall. (AP Photo/Charles Kelly) CHARLES KELLY Democratic gubernatorial nominee Jimmy Carter and his wife Rosalynn clutch the microphones as he claims victory in a runoff election at campaign headquarters in Atlanta, Georgia, September 24, 1970. Carter beat former Georgia Governor Carl Sanders for the nomination and will face Republican candidate Hal Suit, veteran television newsman, in the general election Nov. 3, 1970. (AP Photo/Charles Kelly) Charles Kelly Former state Sen. Jimmy Carter breaks into a broad smile after early returns gave him a lead of almost 2-1 in the Democratic runoff against former Gov. Carl Sanders, Sept. 23, 1970, in Atlanta, Ga. The winner will meet the Republic Hal Suit for the governorship of Georgia on the Nov. 3 general election. (AP Photo/Charles Kelly) Charles Kelly Governor-elect Jimmy Carter and his daughter Amy, 3, walk about the grounds by the fountain at the Governor's Mansion in Atlanta, Ga., Jan. 10, 1971, as they get to know the place where they will live for the next four years. Carter will be sworn in as governor of Georgia Tuesday. (AP Photo) UNCREDITED Judge Robert H. Jordan administers the oath of office to Gov. Jimmy Carter during ceremonies at the state capitol in Atlanta. Ga., Jan. 12, 1971. Next to the judge is former Gov. Lester Maddox, who will take over as lieutenant governer of Georgia. (AP Photo) Anonymous Jimmy Carter of Georgia, seen here Feb. 6, 1971, already described as a symbol of a new breed of moderate southern politician, says that the race question has ceased to be a major issue "between or among candidates" running for office in the old confederacy. (AP Photo) ASSOCIATED PRESS Jimmy Carter, Governor of Georgia, is shown at his desk in Atlanta, on February 19, 1971. (AP Photo) ASSOCIATED PRESS Georgia's Gov. Jimmy Carter reaches for pen February 25, 1972 to sign a Georgia Senate House resolution opposing forced busing to achieve integration in the classrooms of the United States. Anonymous Georgia Gov. Jimmy Carter joins a half-dozen Rockettes in a high kick, September 21, 1973, at Radio City Music Hall in New York, while visiting backstage before an afternoon performance. Carter is in New York to induce the film industry to make pictures in his state. (AP Photo/stf) ASSOCIATED PRESS Georgia Gov. Jimmy Carter, right, and Delaware Gov. Sherman Tribbitt say hello to Atlanta Braves Hank Aaron, left, following a rain canceled game with the Los Angeles Dodgers, Thursday, Sept. 27, 1973, Atlanta, Ga. The cancellation slowed Aaron’s opportunity to tie or break Babe Ruth’s home run record. (AP Photo) Anonymous Georgia Gov. Jimmy Carter spoke to 18,000 messengers to the Southern Baptist Convention on Thursday, June 13, 1974 in Dallas, Texas. He urged Baptists to use their personal and political influence to return the nation to ideals of stronger commitment and higher ethics. He said "there is no natural division between a man's Christian life and his political life." (AP Photo/Greg Smith) GREG SMITH Georgia Gov. Jimmy Carter tells a gathering, Saturday, Oct. 5, 1974 at the National Press Club in Washington about his ideas concerning energy conservation. (AP Photo) AP In this Thursday, Aug. 14, 1975 file photo, former Georgia Gov. Jimmy Carter announces in Washington that he qualified for federal matching funds to help finance his campaign for the 1976 Democratic presidential nomination. BJ Former Georgia Gov. Jimmy Carter, right, drew about 5,000 people to Youngstown's Federal Plaza in Youngstown, Ohio, in his quest for support in Tuesday's Ohio Democratic primary, June 7, 1976. The presidential hopeful waded into the crowd, shaking hands and signing autographs. Carter, speaking to the largest crowd to assemble during his Ohio campaign, said 1976 would be a Democratic year because of the Watergate aftermath and other national ills. (AP Photo) UNCREDITED In this Monday, Aug. 23, 1976 file photo, Democratic presidential candidate Jimmy Carter gives an informal press conference in Los Angeles during a campaign tour through the West and Midwest. On Wednesday, Aug. 12, 2015. (AP Photo) STF Democratic Presidential nominee Jimmy Carter, left, eats some freshly roasted barbecue chicken with his brother Billy Carter at Billy's gas station, Sept 11, 1976, Plains, Ga. The nominee had returned the night before from a week of campaigning, and planned to hold an impromptu press conference at the gas station. (AP Photo/Jeff Taylor) JEFF TAYLOR Democratic presidential nominee, Jimmy Carter, is all smiles as he talks with his brother Billy at the Carter Family Peanut warehouse, September 18, 1976. (AP Photo) AP Jimmy Carter stands in a large mound of peanuts at the Carter Peanut Warehouse in Plains, Ga., September 22, 1976. The Democratic party presidential nominee took an early morning walk through the warehouse to inspect some of the harvest. (AP Photo) AP FILE - In this Oct. 6, 1976 file photo with his wife Rosalynn Carter looking on at center, Democratic presidential candidate Jimmy Carter, center left, shakes hands with President Gerald Ford at the conclusion of their debate at the Palace of Fine Arts Theater in San Francisco, Calif. (AP Photo, File) Anonymous Jimmy Carter, Democratic candidate for president, is joined by his daughter, Amy, as he waves from the rostrum at Fort Worth Convention Center, Texas, Sunday, Nov. 1, 1976. Carter and his family have been campaigning Texas, making a last minute bid for the state's 26 electoral votes. The others are not identified. (AP Photo) AP U.S. President-elect Jimmy Carter waves to supporters as he is surrounded by family members at a hotel in Atlanta, Ga., on Nov. 3, 1976. Carter won the presidential election by 297 electoral votes to 241 for Ford. Standing next to him is his wife, Rosalynn, and their daughter Amy Lynn, far right. The others are unidentified. (AP Photo) AP President-elect Jimmy Carter and his wife Rosalynn wipe tears from their eyes after returning to their home town in Plains, Ga., Nov. 3, 1976. The Carter family was greeted by local residents after returning from Atlanta. (AP Photo) UNCREDITED President-elect Jimmy Carter leans over to shake hands with some of the people riding the "Peanut Special" to Washington D.C., Jan. 19, 1977. They will travel all night, arriving in Washington in time for Carter's inauguration as President tomorrow. (AP Photo) Anonymous Jimmy Carter takes the oath of office as the nation's 39th president during inauguration ceremonies in Washington, D.C., on Jan. 20, 1977. Carter's wife, Rosalynn, holds the Bible used in the first inauguration by George Washington as U.S. Chief Justice Warren Burger administers the oath. Looking on at left are, Happy Rockefeller, Betty Ford, Joan Mondale, Amy Carter, and outgoing President Gerald Ford. Behind Carter is Vice President Walter Mondale. At far right is former Vice President Nelson Rockefeller. (AP Photo) ASSOCIATED PRESS Rosalynn Carter, left, looks up at her husband Jimmy Carter as he takes the oath of office as the 39th President of the United States at the Capitol, Thursday, Jan. 20, 1977, Washington, D.C. Mrs. Carter held a family Bible for her husband. (AP Photo) Anonymous Jimmy Carter and first lady Rosalynn Carter walk down Pennsylvania Avenue after Carter was sworn in as the nations 39th President, Jan. 20, 1977, Washington, D.C. (AP Photo) AP FILE - In this Thursday, Jan. 20, 1977 file photo, President Jimmy Carter waves to the crowd while walking with his wife, Rosalynn, and their daughter, Amy, along Pennsylvania Avenue from the Capitol to the White House following his inauguration in Washington. (AP Photo/Suzanne Vlamis) Suzanne Vlamis In this Jan. 24, 1977 file photo, President Jimmy Carter is interviewed in the Oval Office of the White House in Washington. STF In this file photo dated May 1977, U.S. President Jimmy Carter, right, and Britain's Queen Elizabeth II with French President Valery Giscard d'Estaing, at Buckingham Palace in London. Anonymous In this Feb. 20, 1978, file photo, President Jimmy Carter listens to Sen. Joseph R. Biden, D-Del., as they wait to speak at fund raising reception at Padua Academy in Wilmington, Del. (AP Photo/Barry Thumma, File) Barry Thumma President Jimmy Carter tucks his thumbs into his jeans and laughs as he prepares to head down the Salmon River in Idaho August 1978 for a three day rubber raft float. (AP Photo) AP United States President Jimmy Carter, on a visit to West Germany in 1978, rides with Chancellor Helmut Schmidt during a review of United States Forces at a base near Frankfurt. (AP Photo) ASSOCIATED PRESS Egyptian President Anwar Sadat, left, U.S. President Jimmy Carter, center, and Israeli Prime Minister Menachem Begin clasp hands on the north lawn of the White House after signing the peace treaty between Egypt and Israel on March 26, 1979. (AP Photo/ Bob Daugherty) BOB DAUGHERTY President Jimmy Carter, left, and Soviet President Leonid Brezhnev, right, sign the documents of the SALT II Treaty in the Vienna Imperial Hofburg Palace, Monday, June 18, 1979, Vienna, Austria. Anonymous President Jimmy Carter leans across the roof of his car to shake hands along the parade route through Bardstown, Ky., Tuesday afternoon, July 31, 1979. The president climbed on top of the car as the parade moved toward the high school gym, where a town meeting was held. (AP Photo/Bob Daugherty) BOB DAUGHERTY In this April 25, 1980 file photo, President Jimmy Carter prepares to make a national television address from the Oval Office at the White House in Washington, on the failed mission to rescue the Iran hostages. STF President Jimmy Carter applauds as Sen. Edward Kennedy waves to cheering crowds of the Democratic National Convention in New York's Madison Square Garden, Aug. 14, 1980. (AP Photo/Bob Daugherty) Bob Daugherty President Jimmy Carter raises a clenched fist during his address to the Democratic Convention, August 15, 1980, in New York's Madison Square Garden where he accepted his party's nomination to face Republican Ronald Reagan in the general election. (AP Photo/stf) ASSOCIATED PRESS Massachusetts Senator Edward M. Kennedy greets President Jimmy Carter after he landed at Boston's Logan Airport, Aug. 21, 1980. President Carter is in Boston to address the American Legion Convention being held in Boston. (AP Photo) Anonymous President Jimmy Carter, left, and Gov. Bill Clinton of Arkansas enjoy a chuckle during a rally for Carter in Texarkana, Texas, Oct. 22, 1980. Texarkana was the last stop for Carter on a three-city one-day campaign swing through Texas. (AP Photo/John Duricka) John Duricka In this Oct. 28, 1980 file photo, President Jimmy Carter shakes hands with Republican Presidential candidate Ronald Reagan after debating in the Cleveland Music Hall in Cleveland. (AP Photo/Madeline Drexler, File) Madeline Drexler Former US President Jimmy Carter, who had negotiated for the hostages release right up to the last hours of his Presidency, lifts his arm to the crowd, while putting his other hand around the shoulders of a former hostage in Iran, believed to be Bruce Laingen, at US AIR Force Hospital in Wiesbaden, Germany, Wednesday, January 21, 1981. AP FILE Former Pres. Jimmy Carter, center, is joined by his wife Rosalynn and his brother Billy Carter during session of the Democratic National Convention, Tuesday, July 19, 1988, Atlanta, Ga. Billy had been recently diagnosed with cancer. (AP Photo/Bob Daugherty) Bob Daugherty Former U.S. President Jimmy Carter speaks to newsmen as PLO Chairman Yasser Arafat, right, looks on after the two men met in Paris Wednesday, April 4, 1990. Carter said he felt some leaders did not represent the region's yearning for peace. (AP Photo/Pierre Gieizes) AP Former U.S. President Jimmy Carter, center, introduces his wife Rosalynn, right, to Chinese Communist Party General Secretary Jiang Zemin, April 14, 1991 in Beijing. (AP Photo/Mark Avery) Mark Avery Former President Jimmy Carter gestures at a United Nations news conference in New York, April 23, 1993 about the world conference on Human Rights to be held by the United Nations in Vienna June 14-25. (AP Photo/Richard Drew) Richard Drew Former Presidents George Bush, left, and Jimmy Carter, right, stand with President Clinton and wave to volunteers during a kick-off rally for the President's Volunteer Summit at Marcus Foster Stadium in Philladelphia, PA., Sunday morning April 27, 1997. (AP Photo/Stephan Savoia) STEPHAN SAVOIA President Bill Clinton presents former President Jimmy Carter, right, with the Presidential Medal of Freedom, the nation's highest civilian honor, during a ceremony at the Carter Center in Atlanta Monday, Aug. 9, 1999. (AP Photo/John Bazemore) JOHN BAZEMORE Former U.S. President Jimmy Carter adjusts his glasses during a press conference in Managua, Nicaragua, Thursday, July 6, 2006. The former president and 2002 Nobel Peace Prize winner is heading a delegation from the democracy-promoting Carter Center, based at Emory University in Atlanta, Georgia, to observe preparations for Nicaragua's Nov. 5 presidential election. (AP Photo/Esteban Felix) ESTEBAN FELIX In this Friday, Dec. 8, 2006 file photo, former President Jimmy Carter signs copies of his book "Palestine: Peace Not Apartheid" at the Carter Center in Atlanta, Ga. (AP Photo/Ric Feld) Ric Feld Former President George H.W. Bush, left, watches as Jimmy Carter and Bill Clinton chat during a dedication ceremony for the Billy Graham Library in Charlotte, N.C., Thursday, May 31, 2007. (AP Photo/Gerry Broome) Gerry Broome Former President Jimmy Carter poses for a portrait during the Toronto International Film Festival in Toronto, Monday, Sept. 10, 2007. (AP Photo/Carolyn Kaster) Carolyn Kaster Former President Jimmy Carter poses on the red carpet for the documentary film, "Jimmy Carter: Man From Plains" during the Toronto International Film Festival in Toronto, Monday, Sept. 10, 2007. (AP Photo/Carolyn Kaster) Carolyn Kaster Former President Jimmy Carter, right, and his wife Rosalynn wave to the audience at the Democratic National Convention in Denver, Monday, Aug. 25, 2008. (AP Photo/Jae C. Hong) Jae C. Hong Former President Jimmy Carter, right, and former first lady Rosalynn Carter are seen on stage at the Democratic National Convention in Denver, Monday, Aug. 25, 2008. (AP Photo/Paul Sancya) Paul Sancya Former President Jimmy Carter waves to the crowd as he goes on stage at the Democratic National Convention in Denver, Monday, Aug. 25, 2008.(AP Photo/Paul Sancya) Paul Sancya Former President Jimmy Carter, right, is seen with Democratic vice presidential candidate Sen. Joe Biden, D-Del., at the Democratic National Convention in Denver, Tuesday, Aug. 26, 2008. (AP Photo/Paul Sancya) Paul Sancya President-elect Barack Obama is welcomed by President George W. Bush for a meeting at the White House in Washington, Wednesday, Jan. 7, 2009, with former presidents, from left, George H.W. Bush, Bill Clinton and Jimmy Carter. (AP Photo/J. Scott Applewhite) J. Scott Applewhite In this photo taken Saturday, May 29, 2010, former South Africa president Nelson Mandela, right, reacts with former US president Jimmy Carter, during a reunion with The Elders, three years after he launched the group, in Johannesburg, South Africa. (AP Photo/Jeff Moore, Pool) Jeff Moore Former US President Jimmy Carter, center, one of the delegates of the Elders group of retired prominent world figures, holds a Palestinian child during a visit to the east Jerusalem neighborhood of Silwan, Thursday, Oct. 21, 2010. (AP Photo/Menahem Kahana, Pool) Menahem Kahana Former President Jimmy Carter, 86, leads Habitat for Humanity volunteers to help build and repair houses in Washington's Ivy City neighborhood, Monday, Oct. 4, 2010. (AP Photo/J. Scott Applewhite) J. Scott Applewhite FILE - In this Friday, Oct. 22, 2010 file photo, former president of Ireland, Mary Robinson, background right, looks at former U.S. president, Jimmy Carter, center, while visiting a weekly protest in the east Jerusalem neighborhood of Sheikh Jarrah. The protest was organized by groups supporting Palestinians evicted from their homes in east Jerusalem by Israeli authorities. (AP Photo/Bernat Armangue) Bernat Armangue Former U.S. President Jimmy Carter, his wife, Rosalynn, and former UN Secretary General Kofi Annan conclude a visit to a polling center the southern capital of Juba Sunday, Jan. 9, 2011. (AP Photo/Pete Muller) Pete Muller Former President Jimmy Carter signs his name in the guest book at the Jewish Community center in Havana, Cuba, Monday March 28, 2011. Carter arrived in Cuba to discuss economic policies and ways to improve Washington-Havana relations, which are even more tense than usual over the imprisonment of Alan Gross, a U.S. contractor, on the island. C (AP Photo/Adalberto Roque, Pool) ADALBERTO ROQUE Former U.S. President Jimmy Carter pauses during an interview as he and his wife Rosalynn visit a Habitat for Humanity project in Leogane, Haiti, Monday Nov. 7, 2011. The Carters joined volunteers from around the world to build 100 homes in partnership with earthquake-affected families in Haiti during a week-long Habitat for Humanity housing project. (AP Photo/Ramon Espinosa) Ramon Espinosa Former U.S. President Jimmy Carter, sits prior to a meeting with Israel's President Shimon Peres at the President's residence in Jerusalem, Sunday, Oct. 21, 2012. Peres met two of 'The Elders', a group composed of eminent global leaders brought together by Nelson Mandela. (AP Photo/Sebastian Scheiner) Sebastian Scheiner Former U.S. President Jimmy Carter watches baseball players work out before Game 2 of the National League Division Series between the Atlanta Braves and the Los Angeles Dodgers, Friday, Oct. 4, 2013, in Atlanta. (AP Photo/Dave Martin) Dave Martin Former President Jimmy Carter speaks during a forum at the John F. Kennedy Presidential Library and Museum in Boston, Thursday, Nov. 20, 2014. Among other topics, Carter discussed his new book, "A Call to Action: Women, Religion, Violence, and Power." (AP Photo/Elise Amendola) Elise Amendola President Jimmy Carter, left, and Rosalynn Carter arrive at the 2015 MusiCares Person of the Year event at the Los Angeles Convention Center on Friday, Feb. 6, 2015 in Los Angeles. (Photo by Richard Shotwell/Invision/AP) Richard Shotwell In this July 10, 2015, file photo, former President Jimmy Carter is seen in Philadelphia. (AP Photo/Matt Rourke, File) Matt Rourke In a Sunday, Aug. 23, 2015 file photo, former President Jimmy Carter teaches Sunday School class at Maranatha Baptist Church in his hometown, in Plains, Ga. (AP Photo/David Goldman, File) David Goldman Former President Jimmy Carter answers questions during a news conference at a Habitat for Humanity building site Monday, Nov. 2, 2015, in Memphis, Tenn. Carter and his wife, Rosalynn, have volunteered a week of their time annually to Habitat for Humanity since 1984, events dubbed "Carter work projects" that draw thousands of volunteers and take months of planning. (AP Photo/Mark Humphrey) Mark Humphrey Former President Bill Clinton, left, and former president Jimmy Carter shake hands after speaking at a Clinton Global Initiative meeting Tuesday, June 14, 2016, in Atlanta. (AP Photo/John Bazemore) John Bazemore Former U.S. President Jimmy Carter holds a morning devotion in Memphis, Tenn., on Monday, Aug. 22, 2016, before he and his wife Rosalynn help build a home for Habitat for Humanity. (AP Photo/Alex Sanz) Alex Sanz Former president Jimmy Carter and Rosalynn Carter arrive during the 58th Presidential Inauguration at the U.S. Capitol in Washington, Friday, Jan. 20, 2017. (AP Photo/Andrew Harnik) Andrew Harnik In this Feb. 8, 2017, file photo, former President Jimmy Carter speaks during a ribbon cutting ceremony for a solar panel project on farmland he owns in his hometown of Plains, Ga. (AP Photo/David Goldman, File) David Goldman Former President George W. Bush, center, speaks as fellow former Presidents from right, Barack Obama, Bill Clinton, George H.W. Bush and Jimmy Carter look on during a hurricanes relief concert in College Station, Texas, Saturday, Oct. 21, 2017. All five living former U.S. presidents joined to support a Texas concert raising money for relief efforts from Hurricane Harvey, Irma and Maria's devastation in Texas, Florida, Puerto Rico and the U.S. Virgin Islands. (AP Photo/LM Otero) LM Otero Former President Jimmy Carter, 93, sits for an interview about his new book "Faith: A Journey For All" which will debut at no. 7 on the New York Times best sellers list, pictured before a book signing Wednesday, April 11, 2018, in Atlanta. (AP Photo/John Amis) John Amis Former President Jimmy Carter speaks as Democratic gubernatorial candidate Stacey Abrams listens during a news conference to announce Abrams' rural health care plan Tuesday, Sept. 18, 2018, in Plains, Ga. (AP Photo/John Bazemore) John Bazemore Former President Jimmy Carter and Rosalynn Carter are seen ahead of an NFL football game between the Atlanta Falcons and the Cincinnati Bengals, Sunday, Sept. 30, 2018, in Atlanta. (AP Photo/John Bazemore) John Bazemore Former President Jimmy Carter takes questions submitted by students during an annual Carter Town Hall held at Emory University Wednesday, Sept. 18, 2019, in Atlanta. (AP Photo/John Amis) John Amis Democratic presidential candidate former South Bend, Ind., Mayor Pete Buttigieg, left, meets with former President Jimmy Carter, center, at Buffalo Cafe in Plains, Ga., Sunday, March 1, 2020. (AP Photo/Matt Rourke) Matt Rourke Former President Jimmy Carter reacts as his wife Rosalynn Carter speaks during a reception to celebrate their 75th wedding anniversary on July 10, 2021, in Plains, Ga. John Bazemore, Associated Press Carter John Amis, Associated Press Former President Jimmy Carter, arrives to attend a tribute service for his wife and former first lady Rosalynn Carter, at Glenn Memorial Church, Tuesday, Nov. 28, 2023, in Atlanta. (AP Photo/Andrew Harnik) Andrew Harnik A sign wishing former President Jimmy Carter a happy 100th birthday sits on the North Lawn of the White House in Washington, Tuesday, Oct. 1, 2024. (AP Photo/Susan Walsh) Susan Walsh FILE - Former President Jimmy Carter teaches Sunday school at Maranatha Baptist Church, in Plains, Ga., Nov. 3, 2019. Well-wishes and fond remembrances for the former president continued to roll in Sunday, Feb. 19, 2023, a day after he entered hospice care at his home in Georgia. (AP Photo/John Amis, File) John Amis Former President Jimmy Carter arrives for the funeral service for his wife, former first lady Rosalynn Carter at Maranatha Baptist Church, Wednesday, Nov. 29, 2023, in Plains, Ga. The former first lady died on Nov. 19. She was 96. (AP Photo/John Bazemore) John Bazemore
Will the Price of Gold Keep Hitting Record Highs?BOLINGBROOK, Ill.--(BUSINESS WIRE)--Dec 5, 2024-- Ulta Beauty, Inc. (NASDAQ: ULTA) today announced financial results for the thirteen-week period (“third quarter”) and thirty-nine-week period (“first nine months”) ended November 2, 2024 compared to the same periods ended October 28, 2023. 13 Weeks Ended 39 Weeks Ended November 2, October 28, November 2, October 28, (Dollars in millions, except per share data) 2024 2023 2024 2023 Net sales $ 2,530.1 $ 2,488.9 $ 7,808.0 $ 7,653.0 Comparable sales (1) 0.6% 4.5% 0.3% 7.3% Gross profit (as a percentage of net sales) 39.7% 39.9% 39.1% 39.7% Selling, general and administrative expenses $ 682.3 $ 661.4 $ 1,993.0 $ 1,874.2 Operating income (as a percentage of net sales) 12.6% 13.1% 13.4% 15.2% Diluted earnings per share $ 5.14 $ 5.07 $ 16.93 $ 17.99 New store openings, net 26 12 52 19 (1) Comparable sales are calculated based on the comparable 13 and 39 calendar weeks in the current and prior year. “The Ulta Beauty team delivered better-than-expected sales and profitability reflecting improved sales trends and strong financial discipline. I am proud of the progress we’ve made and encouraged by early signs that our efforts to reinforce our market position and drive improved performance are gaining traction. As we look to the remainder of fiscal 2024, we are focused on executing with excellence across our key initiatives to deliver in a dynamic environment,” said Dave Kimbell, chief executive officer. “We remain confident that our model and strategies will drive long-term profitable growth and share leadership by enhancing our position as the destination for beauty enthusiasts for a lifetime.” Third Quarter of Fiscal 2024 Compared to Third Quarter of Fiscal 2023 Net sales increased 1.7% to $2.53 billion compared to $2.49 billion, primarily due to new store contribution, partially offset by a decline in other revenue. Comparable sales (sales for stores open at least 14 months and e-commerce sales) increased 0.6% compared to an increase of 4.5%, driven by a 0.5% increase in transactions and a 0.1% increase in average ticket. Gross profit was $1.0 billion compared to $992.1 million. As a percentage of net sales, gross profit decreased to 39.7% compared to 39.9%, primarily due to deleverage of store and supply chain fixed costs and lower other revenue, partially offset by favorable channel mix and lower inventory shrink. Selling, general and administrative (SG&A) expenses were $682.3 million compared to $661.4 million. As a percentage of net sales, SG&A expenses increased to 27.0% compared to 26.6%, primarily due to deleverage of store payroll and benefits, and corporate overhead, primarily due to strategic investments, partially offset by lower incentive compensation. Operating income was $318.5 million, or 12.6% of net sales, compared to $327.2 million, or 13.1% of net sales. The tax rate was 24.4% compared to 24.3%. Net income was $242.2 million compared to $249.5 million. Diluted earnings per share was $5.14 compared to $5.07. First Nine Months of Fiscal 2024 Compared to First Nine Months of Fiscal 2023 Net sales increased 2.0% to $7.8 billion compared to $7.7 billion, primarily due to new store contribution and growth in other revenue. Comparable sales increased 0.3% compared to an increase of 7.3%, driven by a 0.3% increase in average ticket. Gross profit was $3.1 billion compared to $3.0 billion. As a percentage of net sales, gross profit decreased to 39.1% compared to 39.7%, primarily due to lower merchandise margin, partially offset by deleverage of store fixed costs. SG&A expenses were $2.0 billion compared to $1.9 billion. As a percentage of net sales, SG&A expenses increased to 25.5% compared to 24.5%, primarily due to deleverage of corporate overhead due to strategic investments and deleverage of store payroll and benefits and store expenses, partially offset by lower incentive compensation. Operating income was $1.0 billion, or 13.4% of net sales, compared to $1.2 billion, or 15.2% of net sales. The tax rate was 23.9% compared to 23.7%. Net income was $807.8 million compared to $896.6 million. Diluted earnings per share was $16.93, including a $0.10 benefit due to income tax accounting for stock-based compensation, compared to $17.99, including a $0.14 benefit due to income tax accounting for stock-based compensation. Balance Sheet Cash and cash equivalents at the end of the third quarter of fiscal 2024 totaled $177.8 million. Merchandise inventories, net at the end of the third quarter of fiscal 2024 increased 1.9% to $2.4 billion compared to $2.3 billion at the end of the third quarter of fiscal 2023. The increase was primarily due to the addition of 63 net new stores since October 28, 2023. Short-term debt at the end of the third quarter of fiscal 2024 was $199.7 million compared to $195.4 million at the end of the third quarter of fiscal 2023, as the Company drew on its revolving credit facility to support ongoing capital allocation priorities, including share repurchases and capital expenditures, and merchandise inventory growth. Share Repurchase Program During the third quarter of fiscal 2024, the Company repurchased 731,458 shares of its common stock at a cost of $267.0 million. During the first nine months of fiscal 2024, the Company repurchased 1.9 million shares of its common stock at a cost of $764.5 million. As of November 2, 2024, $2.9 billion remained available under the $3.0 billion share repurchase program announced in October 2024. Store Update During the third quarter of fiscal 2024, the Company opened 28 new stores, remodeled 27 stores, and closed two stores. During the first nine months of fiscal 2024, the Company opened 57 new stores, relocated two stores, remodeled 36 stores, and closed five stores. At the end of the third quarter of fiscal 2024, the Company operated 1,437 stores totaling 15.0 million square feet. Fiscal 2024 Outlook For fiscal 2024, the Company plans to: Prior FY24 Outlook Updated FY24 Outlook Net sales $11.0 billion to $11.2 billion $11.1 billion to $11.2 billion Comparable sales (2%) to 0% (1%) to 0% New stores, net 60-65 no change Remodel and relocation projects 40-45 no change Operating margin 12.7% to 13.0% 12.9% to 13.1% Diluted earnings per share $22.60 to $23.50 $23.20 to $23.75 Share repurchases approximately $1 billion no change Interest income approximately $13 million $13 million to $14 million Effective tax rate approximately 24% no change Capital expenditures $400 million to $450 million $400 million to $425 million Depreciation and amortization expense $265 million to $270 million no change Conference Call Information A conference call to discuss third quarter of fiscal 2024 results is scheduled for today, December 5, 2024 at 4:30 p.m. ET / 3:30 p.m. CT. Investors and analysts who are interested in participating in the call are invited to dial (877) 704-4453. Participants may also listen to a real-time audio webcast of the conference call by visiting the Investor Relations section of the Company’s website located at https://www.ulta.com/investor . A replay will be made available online approximately two hours following the live call for a period of 30 days. About Ulta Beauty At Ulta Beauty (NASDAQ: ULTA), the possibilities are beautiful. Ulta Beauty is the largest specialty U.S. beauty retailer and the premier beauty destination for cosmetics, fragrance, skin care products, hair care products and salon services. In 1990, the Company reinvented the beauty retail experience by offering a new way to shop for beauty – bringing together All Things Beauty. All in One Place ®. Today, Ulta Beauty operates 1,437 retail stores across 50 states and also distributes its products through its website, which includes a collection of tips, tutorials, and social content. For more information, visit www.ulta.com . Forward‐Looking Statements This press release contains forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, which reflect the Company’s current views with respect to, among other things, future events and financial performance. These statements can be identified by the use of forward-looking words such as “outlook,” “believes,” “expects,” “plans,” “estimates,” “targets,” “strategies” or other comparable words. Any forward-looking statements contained in this press release are based upon the Company’s historical performance and on current plans, estimates and expectations. The inclusion of this forward-looking information should not be regarded as a representation by the Company or any other person that the future plans, estimates, targets, strategies or expectations contemplated by the Company will be achieved. Such forward-looking statements are subject to various risks and uncertainties, which include, without limitation: macroeconomic conditions, including inflation, elevated interest rates and recessionary concerns, as well as continuing labor cost pressures, and transportation and shipping cost pressures, have had, and may continue to have, a negative impact on our business, financial condition, profitability, and cash flows (including future uncertain impacts); changes in the overall level of consumer spending and volatility in the economy, including as a result of macroeconomic conditions and geopolitical events; our ability to sustain our growth plans and successfully implement our long-range strategic and financial plan; the ability to execute our operational excellence priorities, including continuous improvement, Project SOAR (the replacement of our enterprise resource planning platform), and supply chain optimization; our ability to gauge beauty trends and react to changing consumer preferences in a timely manner; the possibility that we may be unable to compete effectively in our highly competitive markets; the possibility of significant interruptions in the operations of our distribution centers, fast fulfillment centers, and market fulfillment centers; the possibility that cybersecurity or information security breaches and other disruptions could compromise our information or result in the unauthorized disclosure of confidential information; the possibility of material disruptions to our information systems, including our Ulta.com website and mobile applications; the failure to maintain satisfactory compliance with applicable privacy and data protection laws and regulations; changes in the good relationships we have with our brand partners, our ability to continue to obtain sufficient merchandise from our brand partners, and/or our ability to continue to offer permanent or temporary exclusive products of our brand partners; our ability to effectively manage our inventory and protect against inventory shrink; changes in the wholesale cost of our products and/or interruptions at our brand partners’ or third-party vendors’ operations; epidemics, pandemics or natural disasters, which could negatively impact sales; the possibility that new store openings and existing locations may be impacted by developer or co-tenant issues; our ability to attract and retain key executive personnel; the impact of climate change on our business operations and/or supply chain; our ability to successfully execute our common stock repurchase program or implement future common stock repurchase programs; a decline in operating results which could lead to asset impairment and store closure charges; and other risk factors detailed in the Company’s public filings with the Securities and Exchange Commission (the SEC), including risk factors contained in its Annual Report on Form 10‐K for the fiscal year ended February 3, 2024, as such may be amended or supplemented in its subsequently filed Quarterly Reports on Form 10-Q. The Company’s filings with the SEC are available at www.sec.gov . Except to the extent required by the federal securities laws, the Company does not undertake to publicly update or revise its forward-looking statements, whether as a result of new information, future events or otherwise. Exhibit 1 Ulta Beauty, Inc. Consolidated Statements of Income (In thousands, except per share data) 13 Weeks Ended November 2, October 28, 2024 2023 (Unaudited) (Unaudited) Net sales $ 2,530,100 100.0 % $ 2,488,933 100.0 % Cost of sales 1,524,456 60.3 % 1,496,866 60.1 % Gross profit 1,005,644 39.7 % 992,067 39.9 % Selling, general and administrative expenses 682,259 27.0 % 661,380 26.6 % Pre-opening expenses 4,883 0.2 % 3,460 0.1 % Operating income 318,502 12.6 % 327,227 13.1 % Interest income, net (1,674 ) (0.1 %) (2,497 ) (0.1 %) Income before income taxes 320,176 12.7 % 329,724 13.2 % Income tax expense 77,997 3.1 % 80,241 3.2 % Net income $ 242,179 9.6 % $ 249,483 10.0 % Net income per common share: Basic $ 5.16 $ 5.09 Diluted $ 5.14 $ 5.07 Weighted average common shares outstanding: Basic 46,928 49,007 Diluted 47,092 49,226 Exhibit 2 Ulta Beauty, Inc. Consolidated Statements of Income (In thousands, except per share data) 39 Weeks Ended November 2, October 28, 2024 2023 (Unaudited) (Unaudited) Net sales $ 7,808,035 100.0 % $ 7,653,005 100.0 % Cost of sales 4,754,434 60.9 % 4,612,469 60.3 % Gross profit 3,053,601 39.1 % 3,040,536 39.7 % Selling, general and administrative expenses 1,992,993 25.5 % 1,874,201 24.5 % Pre-opening expenses 11,957 0.2 % 5,396 0.1 % Operating income 1,048,651 13.4 % 1,160,939 15.2 % Interest income, net (13,100 ) (0.2 %) (14,294 ) (0.2 %) Income before income taxes 1,061,751 13.6 % 1,175,233 15.4 % Income tax expense 253,903 3.3 % 278,597 3.6 % Net income $ 807,848 10.3 % $ 896,636 11.7 % Net income per common share: Basic $ 17.00 $ 18.08 Diluted $ 16.93 $ 17.99 Weighted average common shares outstanding: Basic 47,519 49,592 Diluted 47,710 49,846 Exhibit 3 Ulta Beauty, Inc. Condensed Consolidated Balance Sheets (In thousands) November 2, February 3, October 28, 2024 2024 2023 (Unaudited) (Unaudited) Assets Current assets: Cash and cash equivalents $ 177,782 $ 766,594 $ 121,811 Receivables, net 213,621 207,939 202,868 Merchandise inventories, net 2,365,186 1,742,136 2,321,306 Prepaid expenses and other current assets 135,514 115,598 117,282 Prepaid income taxes 62,759 4,251 28,773 Total current assets 2,954,862 2,836,518 2,792,040 Property and equipment, net 1,264,419 1,182,335 1,117,874 Operating lease assets 1,619,055 1,574,530 1,578,316 Goodwill 10,870 10,870 10,870 Other intangible assets, net 281 510 591 Deferred compensation plan assets 48,872 43,516 38,371 Other long-term assets 60,127 58,732 56,946 Total assets $ 5,958,486 $ 5,707,011 $ 5,595,008 Liabilities and stockholders’ equity Current liabilities: Accounts payable $ 593,219 $ 544,001 $ 597,373 Accrued liabilities 333,463 382,468 405,443 Deferred revenue 405,040 436,591 350,937 Current operating lease liabilities 284,985 283,821 287,786 Accrued income taxes — 11,310 — Short-term debt 199,700 — 195,400 Total current liabilities 1,816,407 1,658,191 1,836,939 Non-current operating lease liabilities 1,656,317 1,627,271 1,616,747 Deferred income taxes 91,729 85,921 56,874 Other long-term liabilities 65,024 56,300 55,906 Total liabilities 3,629,477 3,427,683 3,566,466 Commitments and contingencies Total stockholders’ equity 2,329,009 2,279,328 2,028,542 Total liabilities and stockholders’ equity $ 5,958,486 $ 5,707,011 $ 5,595,008 Exhibit 4 Ulta Beauty, Inc. Condensed Consolidated Statements of Cash Flows (In thousands) 39 Weeks Ended November 2, October 28, 2024 2023 (Unaudited) (Unaudited) Operating activities Net income $ 807,848 $ 896,636 Adjustments to reconcile net income to net cash provided by operating activities: Depreciation and amortization 197,075 181,273 Non-cash lease expense 235,950 232,772 Deferred income taxes 5,808 1,528 Stock-based compensation expense 27,691 33,477 Loss on disposal of property and equipment 7,280 6,310 Change in operating assets and liabilities: Receivables (5,682 ) (3,446 ) Merchandise inventories (623,050 ) (717,855 ) Prepaid expenses and other current assets (19,916 ) 12,964 Income taxes (69,818 ) 9,535 Accounts payable 54,210 41,817 Accrued liabilities (45,777 ) (34,955 ) Deferred revenue (31,551 ) (43,740 ) Operating lease liabilities (250,267 ) (248,469 ) Other assets and liabilities 12,240 (9,836 ) Net cash provided by operating activities 302,041 358,011 Investing activities Capital expenditures (300,536 ) (311,030 ) Other investments (6,108 ) (4,870 ) Net cash used in investing activities (306,644 ) (315,900 ) Financing activities Borrowings from credit facility 199,700 195,400 Repurchase of common shares (765,384 ) (840,551 ) Stock options exercised 9,200 9,302 Purchase of treasury shares (23,566 ) (22,328 ) Debt issuance costs (4,159 ) — Net cash used in financing activities (584,209 ) (658,177 ) Net decrease in cash and cash equivalents (588,812 ) (616,066 ) Cash and cash equivalents at beginning of period 766,594 737,877 Cash and cash equivalents at end of period $ 177,782 $ 121,811 Exhibit 5 Ulta Beauty, Inc. Store Update Total stores open Number of stores Number of stores Total stores at beginning of the opened during the closed during the open at Fiscal 2024 quarter quarter quarter end of the quarter 1 st Quarter 1,385 12 2 1,395 2 nd Quarter 1,395 17 1 1,411 3 rd Quarter 1,411 28 2 1,437 Gross square feet for Total gross square stores opened or Gross square feet for Total gross square feet at beginning of expanded during the stores closed feet at end of the Fiscal 2024 the quarter quarter during the quarter quarter 1 st Quarter 14,515,593 114,786 15,615 14,614,764 2 nd Quarter 14,614,764 178,624 10,800 14,782,588 3 rd Quarter 14,782,588 258,320 20,083 15,020,825 Exhibit 6 Ulta Beauty, Inc. Sales by Category The following tables set forth the approximate percentage of net sales by primary category: 13 Weeks Ended November 2, October 28, 2024 2023 Cosmetics 41 % 42 % Skincare 23 % 22 % Haircare 20 % 21 % Fragrance 10 % 9 % Services 4 % 4 % Other 2 % 2 % 100 % 100 % 39 Weeks Ended November 2, October 28, 2024 2023 Cosmetics 41 % 42 % Skincare 24 % 22 % Haircare 19 % 21 % Fragrance 10 % 9 % Services 4 % 4 % Other 2 % 2 % 100 % 100 % Certain sales departments were reclassified between categories in the prior year to conform to current year presentation, including moving the bath category from Fragrance to Skincare. View source version on businesswire.com : https://www.businesswire.com/news/home/20241205470535/en/ CONTACT: Investor Contact: Kiley Rawlins, CFA Vice President, Investor Relations krawlins@ulta.comMedia Contact: Crystal Carroll Senior Director, Public Relations ccarroll@ulta.com KEYWORD: UNITED STATES NORTH AMERICA ILLINOIS INDUSTRY KEYWORD: COSMETICS RETAIL SPECIALTY SOURCE: Ulta Beauty, Inc. Copyright Business Wire 2024. PUB: 12/05/2024 04:05 PM/DISC: 12/05/2024 04:06 PM http://www.businesswire.com/news/home/20241205470535/en
Flagg's growth, Broome's consistency show in matchup of AP All-AmericansNew York, United Nations, Dec. 05, 2024 (GLOBE NEWSWIRE) -- The United Nations Global Compact launched the CEO Agenda, a dedicated leadership platform designed to empower CEOs worldwide to embrace bold leadership as the defining growth imperative for sustainable business, today. In an era marked by interconnected crises - spanning economic, social and geopolitical challenges - CEOs can no longer stand on the sidelines of global challenges. This new platform calls on business leaders to drive ambition, advocacy and sustainable growth addressing critical societal challenges while fostering resilience and long-term prosperity. The CEO Agenda equips business leaders with the tools, insights and connections needed to transform their organizations, and lead the charge toward sustainable growth. Key platform features include: As sustainability reshapes corporate priorities, the CEO Agenda emphasizes the evolving role of the C-suite. Leaders in finance, marketing and legal disciplines are stepping up to address risks and opportunities that transcend traditional boundaries, and integrating social, environmental and political dimensions into their strategies. "This platform is a rallying call for business leadership to be bold and inclusive,” said Sanda Ojiambo , CEO and Executive Director of the UN Global Compact. "Business leaders want a seat at the table to work collaboratively with governments to meet common goals. By equipping CEOs with resources, insights, and engagement opportunities, the CEO Agenda amplifies their voices and accelerates both sustainable business and sustainable development.” The UN Global Compact invites CEOs to explore the CEO Agenda and join a growing network of leaders committed to shaping a sustainable and prosperous future for all. Notes to Editors: About the UN Global Compact The ambition of the UN Global Compact is to accelerate and scale the global collective impact of business by upholding the Ten Principles and delivering the SDGs through accountable companies and ecosystems that enable change. With more than 20,000 participating companies, 5 Regional Hubs, 63 Country Networks covering 80 countries and 13 Country Managers establishing Networks in 18 other countries, the UN Global Compact is the world's largest corporate sustainability initiative - one Global Compact uniting business for a better world. For more information on the CEO Agenda, visit https://unglobalcompact.org/ceo-agenda CONTACT: United Nations Global Compact (212) 907-1301 [email protected]
BOLINGBROOK, Ill.--(BUSINESS WIRE)--Dec 5, 2024-- Ulta Beauty, Inc. (NASDAQ: ULTA) today announced financial results for the thirteen-week period (“third quarter”) and thirty-nine-week period (“first nine months”) ended November 2, 2024 compared to the same periods ended October 28, 2023. 13 Weeks Ended 39 Weeks Ended November 2, October 28, November 2, October 28, (Dollars in millions, except per share data) 2024 2023 2024 2023 Net sales $ 2,530.1 $ 2,488.9 $ 7,808.0 $ 7,653.0 Comparable sales (1) 0.6% 4.5% 0.3% 7.3% Gross profit (as a percentage of net sales) 39.7% 39.9% 39.1% 39.7% Selling, general and administrative expenses $ 682.3 $ 661.4 $ 1,993.0 $ 1,874.2 Operating income (as a percentage of net sales) 12.6% 13.1% 13.4% 15.2% Diluted earnings per share $ 5.14 $ 5.07 $ 16.93 $ 17.99 New store openings, net 26 12 52 19 (1) Comparable sales are calculated based on the comparable 13 and 39 calendar weeks in the current and prior year. “The Ulta Beauty team delivered better-than-expected sales and profitability reflecting improved sales trends and strong financial discipline. I am proud of the progress we’ve made and encouraged by early signs that our efforts to reinforce our market position and drive improved performance are gaining traction. As we look to the remainder of fiscal 2024, we are focused on executing with excellence across our key initiatives to deliver in a dynamic environment,” said Dave Kimbell, chief executive officer. “We remain confident that our model and strategies will drive long-term profitable growth and share leadership by enhancing our position as the destination for beauty enthusiasts for a lifetime.” Third Quarter of Fiscal 2024 Compared to Third Quarter of Fiscal 2023 Net sales increased 1.7% to $2.53 billion compared to $2.49 billion, primarily due to new store contribution, partially offset by a decline in other revenue. Comparable sales (sales for stores open at least 14 months and e-commerce sales) increased 0.6% compared to an increase of 4.5%, driven by a 0.5% increase in transactions and a 0.1% increase in average ticket. Gross profit was $1.0 billion compared to $992.1 million. As a percentage of net sales, gross profit decreased to 39.7% compared to 39.9%, primarily due to deleverage of store and supply chain fixed costs and lower other revenue, partially offset by favorable channel mix and lower inventory shrink. Selling, general and administrative (SG&A) expenses were $682.3 million compared to $661.4 million. As a percentage of net sales, SG&A expenses increased to 27.0% compared to 26.6%, primarily due to deleverage of store payroll and benefits, and corporate overhead, primarily due to strategic investments, partially offset by lower incentive compensation. Operating income was $318.5 million, or 12.6% of net sales, compared to $327.2 million, or 13.1% of net sales. The tax rate was 24.4% compared to 24.3%. Net income was $242.2 million compared to $249.5 million. Diluted earnings per share was $5.14 compared to $5.07. First Nine Months of Fiscal 2024 Compared to First Nine Months of Fiscal 2023 Net sales increased 2.0% to $7.8 billion compared to $7.7 billion, primarily due to new store contribution and growth in other revenue. Comparable sales increased 0.3% compared to an increase of 7.3%, driven by a 0.3% increase in average ticket. Gross profit was $3.1 billion compared to $3.0 billion. As a percentage of net sales, gross profit decreased to 39.1% compared to 39.7%, primarily due to lower merchandise margin, partially offset by deleverage of store fixed costs. SG&A expenses were $2.0 billion compared to $1.9 billion. As a percentage of net sales, SG&A expenses increased to 25.5% compared to 24.5%, primarily due to deleverage of corporate overhead due to strategic investments and deleverage of store payroll and benefits and store expenses, partially offset by lower incentive compensation. Operating income was $1.0 billion, or 13.4% of net sales, compared to $1.2 billion, or 15.2% of net sales. The tax rate was 23.9% compared to 23.7%. Net income was $807.8 million compared to $896.6 million. Diluted earnings per share was $16.93, including a $0.10 benefit due to income tax accounting for stock-based compensation, compared to $17.99, including a $0.14 benefit due to income tax accounting for stock-based compensation. Balance Sheet Cash and cash equivalents at the end of the third quarter of fiscal 2024 totaled $177.8 million. Merchandise inventories, net at the end of the third quarter of fiscal 2024 increased 1.9% to $2.4 billion compared to $2.3 billion at the end of the third quarter of fiscal 2023. The increase was primarily due to the addition of 63 net new stores since October 28, 2023. Short-term debt at the end of the third quarter of fiscal 2024 was $199.7 million compared to $195.4 million at the end of the third quarter of fiscal 2023, as the Company drew on its revolving credit facility to support ongoing capital allocation priorities, including share repurchases and capital expenditures, and merchandise inventory growth. Share Repurchase Program During the third quarter of fiscal 2024, the Company repurchased 731,458 shares of its common stock at a cost of $267.0 million. During the first nine months of fiscal 2024, the Company repurchased 1.9 million shares of its common stock at a cost of $764.5 million. As of November 2, 2024, $2.9 billion remained available under the $3.0 billion share repurchase program announced in October 2024. Store Update During the third quarter of fiscal 2024, the Company opened 28 new stores, remodeled 27 stores, and closed two stores. During the first nine months of fiscal 2024, the Company opened 57 new stores, relocated two stores, remodeled 36 stores, and closed five stores. At the end of the third quarter of fiscal 2024, the Company operated 1,437 stores totaling 15.0 million square feet. Fiscal 2024 Outlook For fiscal 2024, the Company plans to: Prior FY24 Outlook Updated FY24 Outlook Net sales $11.0 billion to $11.2 billion $11.1 billion to $11.2 billion Comparable sales (2%) to 0% (1%) to 0% New stores, net 60-65 no change Remodel and relocation projects 40-45 no change Operating margin 12.7% to 13.0% 12.9% to 13.1% Diluted earnings per share $22.60 to $23.50 $23.20 to $23.75 Share repurchases approximately $1 billion no change Interest income approximately $13 million $13 million to $14 million Effective tax rate approximately 24% no change Capital expenditures $400 million to $450 million $400 million to $425 million Depreciation and amortization expense $265 million to $270 million no change Conference Call Information A conference call to discuss third quarter of fiscal 2024 results is scheduled for today, December 5, 2024 at 4:30 p.m. ET / 3:30 p.m. CT. Investors and analysts who are interested in participating in the call are invited to dial (877) 704-4453. Participants may also listen to a real-time audio webcast of the conference call by visiting the Investor Relations section of the Company’s website located at https://www.ulta.com/investor . A replay will be made available online approximately two hours following the live call for a period of 30 days. About Ulta Beauty At Ulta Beauty (NASDAQ: ULTA), the possibilities are beautiful. Ulta Beauty is the largest specialty U.S. beauty retailer and the premier beauty destination for cosmetics, fragrance, skin care products, hair care products and salon services. In 1990, the Company reinvented the beauty retail experience by offering a new way to shop for beauty – bringing together All Things Beauty. All in One Place ®. Today, Ulta Beauty operates 1,437 retail stores across 50 states and also distributes its products through its website, which includes a collection of tips, tutorials, and social content. For more information, visit www.ulta.com . Forward‐Looking Statements This press release contains forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, which reflect the Company’s current views with respect to, among other things, future events and financial performance. These statements can be identified by the use of forward-looking words such as “outlook,” “believes,” “expects,” “plans,” “estimates,” “targets,” “strategies” or other comparable words. Any forward-looking statements contained in this press release are based upon the Company’s historical performance and on current plans, estimates and expectations. The inclusion of this forward-looking information should not be regarded as a representation by the Company or any other person that the future plans, estimates, targets, strategies or expectations contemplated by the Company will be achieved. Such forward-looking statements are subject to various risks and uncertainties, which include, without limitation: macroeconomic conditions, including inflation, elevated interest rates and recessionary concerns, as well as continuing labor cost pressures, and transportation and shipping cost pressures, have had, and may continue to have, a negative impact on our business, financial condition, profitability, and cash flows (including future uncertain impacts); changes in the overall level of consumer spending and volatility in the economy, including as a result of macroeconomic conditions and geopolitical events; our ability to sustain our growth plans and successfully implement our long-range strategic and financial plan; the ability to execute our operational excellence priorities, including continuous improvement, Project SOAR (the replacement of our enterprise resource planning platform), and supply chain optimization; our ability to gauge beauty trends and react to changing consumer preferences in a timely manner; the possibility that we may be unable to compete effectively in our highly competitive markets; the possibility of significant interruptions in the operations of our distribution centers, fast fulfillment centers, and market fulfillment centers; the possibility that cybersecurity or information security breaches and other disruptions could compromise our information or result in the unauthorized disclosure of confidential information; the possibility of material disruptions to our information systems, including our Ulta.com website and mobile applications; the failure to maintain satisfactory compliance with applicable privacy and data protection laws and regulations; changes in the good relationships we have with our brand partners, our ability to continue to obtain sufficient merchandise from our brand partners, and/or our ability to continue to offer permanent or temporary exclusive products of our brand partners; our ability to effectively manage our inventory and protect against inventory shrink; changes in the wholesale cost of our products and/or interruptions at our brand partners’ or third-party vendors’ operations; epidemics, pandemics or natural disasters, which could negatively impact sales; the possibility that new store openings and existing locations may be impacted by developer or co-tenant issues; our ability to attract and retain key executive personnel; the impact of climate change on our business operations and/or supply chain; our ability to successfully execute our common stock repurchase program or implement future common stock repurchase programs; a decline in operating results which could lead to asset impairment and store closure charges; and other risk factors detailed in the Company’s public filings with the Securities and Exchange Commission (the SEC), including risk factors contained in its Annual Report on Form 10‐K for the fiscal year ended February 3, 2024, as such may be amended or supplemented in its subsequently filed Quarterly Reports on Form 10-Q. The Company’s filings with the SEC are available at www.sec.gov . Except to the extent required by the federal securities laws, the Company does not undertake to publicly update or revise its forward-looking statements, whether as a result of new information, future events or otherwise. Exhibit 1 Ulta Beauty, Inc. Consolidated Statements of Income (In thousands, except per share data) 13 Weeks Ended November 2, October 28, 2024 2023 (Unaudited) (Unaudited) Net sales $ 2,530,100 100.0 % $ 2,488,933 100.0 % Cost of sales 1,524,456 60.3 % 1,496,866 60.1 % Gross profit 1,005,644 39.7 % 992,067 39.9 % Selling, general and administrative expenses 682,259 27.0 % 661,380 26.6 % Pre-opening expenses 4,883 0.2 % 3,460 0.1 % Operating income 318,502 12.6 % 327,227 13.1 % Interest income, net (1,674 ) (0.1 %) (2,497 ) (0.1 %) Income before income taxes 320,176 12.7 % 329,724 13.2 % Income tax expense 77,997 3.1 % 80,241 3.2 % Net income $ 242,179 9.6 % $ 249,483 10.0 % Net income per common share: Basic $ 5.16 $ 5.09 Diluted $ 5.14 $ 5.07 Weighted average common shares outstanding: Basic 46,928 49,007 Diluted 47,092 49,226 Exhibit 2 Ulta Beauty, Inc. Consolidated Statements of Income (In thousands, except per share data) 39 Weeks Ended November 2, October 28, 2024 2023 (Unaudited) (Unaudited) Net sales $ 7,808,035 100.0 % $ 7,653,005 100.0 % Cost of sales 4,754,434 60.9 % 4,612,469 60.3 % Gross profit 3,053,601 39.1 % 3,040,536 39.7 % Selling, general and administrative expenses 1,992,993 25.5 % 1,874,201 24.5 % Pre-opening expenses 11,957 0.2 % 5,396 0.1 % Operating income 1,048,651 13.4 % 1,160,939 15.2 % Interest income, net (13,100 ) (0.2 %) (14,294 ) (0.2 %) Income before income taxes 1,061,751 13.6 % 1,175,233 15.4 % Income tax expense 253,903 3.3 % 278,597 3.6 % Net income $ 807,848 10.3 % $ 896,636 11.7 % Net income per common share: Basic $ 17.00 $ 18.08 Diluted $ 16.93 $ 17.99 Weighted average common shares outstanding: Basic 47,519 49,592 Diluted 47,710 49,846 Exhibit 3 Ulta Beauty, Inc. Condensed Consolidated Balance Sheets (In thousands) November 2, February 3, October 28, 2024 2024 2023 (Unaudited) (Unaudited) Assets Current assets: Cash and cash equivalents $ 177,782 $ 766,594 $ 121,811 Receivables, net 213,621 207,939 202,868 Merchandise inventories, net 2,365,186 1,742,136 2,321,306 Prepaid expenses and other current assets 135,514 115,598 117,282 Prepaid income taxes 62,759 4,251 28,773 Total current assets 2,954,862 2,836,518 2,792,040 Property and equipment, net 1,264,419 1,182,335 1,117,874 Operating lease assets 1,619,055 1,574,530 1,578,316 Goodwill 10,870 10,870 10,870 Other intangible assets, net 281 510 591 Deferred compensation plan assets 48,872 43,516 38,371 Other long-term assets 60,127 58,732 56,946 Total assets $ 5,958,486 $ 5,707,011 $ 5,595,008 Liabilities and stockholders’ equity Current liabilities: Accounts payable $ 593,219 $ 544,001 $ 597,373 Accrued liabilities 333,463 382,468 405,443 Deferred revenue 405,040 436,591 350,937 Current operating lease liabilities 284,985 283,821 287,786 Accrued income taxes — 11,310 — Short-term debt 199,700 — 195,400 Total current liabilities 1,816,407 1,658,191 1,836,939 Non-current operating lease liabilities 1,656,317 1,627,271 1,616,747 Deferred income taxes 91,729 85,921 56,874 Other long-term liabilities 65,024 56,300 55,906 Total liabilities 3,629,477 3,427,683 3,566,466 Commitments and contingencies Total stockholders’ equity 2,329,009 2,279,328 2,028,542 Total liabilities and stockholders’ equity $ 5,958,486 $ 5,707,011 $ 5,595,008 Exhibit 4 Ulta Beauty, Inc. Condensed Consolidated Statements of Cash Flows (In thousands) 39 Weeks Ended November 2, October 28, 2024 2023 (Unaudited) (Unaudited) Operating activities Net income $ 807,848 $ 896,636 Adjustments to reconcile net income to net cash provided by operating activities: Depreciation and amortization 197,075 181,273 Non-cash lease expense 235,950 232,772 Deferred income taxes 5,808 1,528 Stock-based compensation expense 27,691 33,477 Loss on disposal of property and equipment 7,280 6,310 Change in operating assets and liabilities: Receivables (5,682 ) (3,446 ) Merchandise inventories (623,050 ) (717,855 ) Prepaid expenses and other current assets (19,916 ) 12,964 Income taxes (69,818 ) 9,535 Accounts payable 54,210 41,817 Accrued liabilities (45,777 ) (34,955 ) Deferred revenue (31,551 ) (43,740 ) Operating lease liabilities (250,267 ) (248,469 ) Other assets and liabilities 12,240 (9,836 ) Net cash provided by operating activities 302,041 358,011 Investing activities Capital expenditures (300,536 ) (311,030 ) Other investments (6,108 ) (4,870 ) Net cash used in investing activities (306,644 ) (315,900 ) Financing activities Borrowings from credit facility 199,700 195,400 Repurchase of common shares (765,384 ) (840,551 ) Stock options exercised 9,200 9,302 Purchase of treasury shares (23,566 ) (22,328 ) Debt issuance costs (4,159 ) — Net cash used in financing activities (584,209 ) (658,177 ) Net decrease in cash and cash equivalents (588,812 ) (616,066 ) Cash and cash equivalents at beginning of period 766,594 737,877 Cash and cash equivalents at end of period $ 177,782 $ 121,811 Exhibit 5 Ulta Beauty, Inc. Store Update Total stores open Number of stores Number of stores Total stores at beginning of the opened during the closed during the open at Fiscal 2024 quarter quarter quarter end of the quarter 1 st Quarter 1,385 12 2 1,395 2 nd Quarter 1,395 17 1 1,411 3 rd Quarter 1,411 28 2 1,437 Gross square feet for Total gross square stores opened or Gross square feet for Total gross square feet at beginning of expanded during the stores closed feet at end of the Fiscal 2024 the quarter quarter during the quarter quarter 1 st Quarter 14,515,593 114,786 15,615 14,614,764 2 nd Quarter 14,614,764 178,624 10,800 14,782,588 3 rd Quarter 14,782,588 258,320 20,083 15,020,825 Exhibit 6 Ulta Beauty, Inc. Sales by Category The following tables set forth the approximate percentage of net sales by primary category: 13 Weeks Ended November 2, October 28, 2024 2023 Cosmetics 41 % 42 % Skincare 23 % 22 % Haircare 20 % 21 % Fragrance 10 % 9 % Services 4 % 4 % Other 2 % 2 % 100 % 100 % 39 Weeks Ended November 2, October 28, 2024 2023 Cosmetics 41 % 42 % Skincare 24 % 22 % Haircare 19 % 21 % Fragrance 10 % 9 % Services 4 % 4 % Other 2 % 2 % 100 % 100 % Certain sales departments were reclassified between categories in the prior year to conform to current year presentation, including moving the bath category from Fragrance to Skincare. View source version on businesswire.com : https://www.businesswire.com/news/home/20241205470535/en/ CONTACT: Investor Contact: Kiley Rawlins, CFA Vice President, Investor Relations krawlins@ulta.comMedia Contact: Crystal Carroll Senior Director, Public Relations ccarroll@ulta.com KEYWORD: UNITED STATES NORTH AMERICA ILLINOIS INDUSTRY KEYWORD: COSMETICS RETAIL SPECIALTY SOURCE: Ulta Beauty, Inc. Copyright Business Wire 2024. PUB: 12/05/2024 04:05 PM/DISC: 12/05/2024 04:06 PM http://www.businesswire.com/news/home/20241205470535/enAmericans support increasing government efficiencyKing and PM honour former US president Jimmy Carter after his death aged 100
- Previous:
- Next: 918kiss slot game online
