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Is Verstappen the GOAT? Four-time champ now among F1's greatsAs is often the case in college football, a week that most of us expected to be sleepy proved to be perhaps the most iconic of the entire season in Week 13. While the SEC was taking its annual lumps for its traditional "cupcake weekend" of buy-game opponents ahead of rivalry week, it turned out to be a disastrous Saturday in the land where It Just Means More. Three teams with two losses vying for spots in the SEC championship and College Football Playoff — Ole Miss, Alabama and Texas A&M — went down on the road to unranked opponents, likely ending their postseason hopes. The rest of the power conferences weren't entirely spared from chaos, though it was a chalky weekend at the top of the ACC and Big Ten, where Ohio State took the glisten off Indiana's success story with a dominant 38-15 win to likely set up a rematch against Oregon in the title game. In the Big 12, however, both BYU and Colorado went down, and now Arizona State and Iowa State control their destinies in a conference in which nine teams are yet to be mathematically eliminated from conference contention. It was a wild weekend in the sport, to say the least. Let's get into the winners and losers from the penultimate week of the regular season. The had to wait a few minutes longer than they expected as one of two (!) premature field stormings thanks to some questionable game management at the end from coach Kenny Dillingham, but they were ultimately afforded a legitimate field storming as they took down BYU and seized control of their own destiny in the Big 12. A team that entered the season expected to be one of the worst teams in the conference in its first season as a member is now just a win in the Territorial Cup over struggling rival Arizona away from clinching a spot in the conference title game. That this team has a clear path to the CFP in just Year 2 under Dillingham is quite an accomplishment. It's hard to understate how poor the situation Dillingham inherited in Tempe from previous coach Herm Edwards, who left the program with a depleted roster and in hot water with the NCAA. The rebuild was expected to take quite some time, and it would have hardly been held against Dillingham if this team missed a bowl game again. Instead, it has a very real shot at reaching the playoff this fall, thanks to the emergence of players like quarterback Sam Leavitt and star running back Cam Skattebo. I don't think Saturday's 38-15 loss to an Ohio State team that held a vast talent advantage should erase what Indiana has accomplished in Year 1 under Curt Cignetti. With what should be an easy win over Purdue next week, the Hoosiers are in all likelihood heading for an unprecedented 11-win season — this is already the first time the program has won 10 games in a season. Indiana looked game on the opening possession, taking an early 7-0 lead before the Buckeyes took over the contest and ultimately held the Hoosiers to just 153 yards of offense in this game as they had no answer at the lines of scrimmage. Admittedly, a win over Ohio State would have ascended Indiana into another class of the sport, setting it up for a Big Ten title appearance against Oregon and locking it into a CFP bid. It's clear this program is not quite there yet, despite the impressive Year 1 effort under Cignetti. But that shouldn't entirely take the wind out of the sails here. During the bye week ahead of the game, Cignetti signed a major extension that will pay him $8 million per year, and with no big-time jobs looking likely to open at the moment, he will likely be sticking around for another season at least. And while the week of discourse leading up to the game focused on attacking Indiana's strength of schedule and playoff candidacy in the event of a loss, chaos around the sport (we'll get to that in a bit) has to have the Hoosiers feeling pretty good about their postseason chances if they're sitting at 11-1. If there's one thing Marcus Freeman has proven at Notre Dame this season, it's that his team is more than capable of handling the flexbone triple option. It beat Navy 51-14 earlier this season to hand the Midshipmen their first loss of the season, and the Fighting Irish did the same to Army on Saturday night in Yankee Stadium with a 49-14 win. Despite its undefeated record and top-20 ranking, the were clearly overmatched in this game, as was their service academy counterpart. But for the Irish, it's yet another convincing win as this team does everything it can to erase a loss to Northern Illinois that is far and away the worst suffered by any team in the CFP conversation. Since then, only one of Notre Dame's wins has come by less than three scores — a seven-point victory over Louisville. Since the calendar turned to October, the Fighting Irish have outscored their opponents 267-65. The strength of schedule certainly leaves a lot to be desired and would likely doom Notre Dame if it can't take care of business against 6-5 USC to close out the regular season, but Freeman's team is practically a lock at 11-1 if it wins that game. While Notre Dame has taken a couple of ugly losses in the Freeman era, his teams continue to respond well to them. Before Saturday, it looked like we were heading for an SEC hater's worst nightmare in the CFP with six teams sitting at two losses or fewer. However, the nightmare turned out to be Greg Sankey's as three of the league's contenders went down to unranked opponents. For Ole Miss, it was a similar story to its other three losses. It probably played the better game and certainly had more than enough opportunities to win but just couldn't take advantage of enough of those chances. All three losses have come by a razor-thin margin, but the cumulative effect will probably cost Ole Miss a playoff spot in a very hyped season under coach Lane Kiffin. Like Ole Miss quarterback Jaxson Dart, who threw two interceptions as his team was driving to tie in the final two minutes, Alabama's Jalen Milroe also cost his team dearly with his turnovers, of which he had three. Both came early in the third quarter, with one setting up a touchdown and the other returned for one. Meanwhile, Texas A&M just couldn't shake Auburn despite overcoming a 21-0 deficit early. The Tigers took the Aggies to overtime and ultimately outlasted them on a dueling two-point conversion shootout in four overtimes. The SEC's hopes of getting four or even five teams in the field appear to be dead, and these outcomes were a godsend to teams in other leagues hopeful to snatch up at-large spots, namely Indiana and a non-ACC champion, such as Clemson. : It feels like we may have entered a new era of the Billy Napier era in Gainesville. After many thought he was a dead man walking earlier in the year, he has now notched back-to-back ranked wins for the first time at Florida since 2008. : The Mustangs took care of business against Virginia on the road and are now just one win against Cal away from securing a matchup against Miami in the ACC title game. : FSU finally got back in the win column for the first time since September with a win over Charleston Southern. Are the Bucs a 1-11 FCS team? That's irrelevant. What matters is that Florida State will avoid a 1-11 season itself and now has the chance to ruin its rival's good vibes next weekend. : The Jayhawks are easily the best 5-6 team in the country, and I don't say that sarcastically at all. With wins over Iowa State, BYU and Colorado in recent weeks, this looks like a team no one wants to play right now. Kansas can get bowl-eligible with a win over Baylor. : They've finally done it. After a 5-1 start turned into four-straight losses, the Cornhuskers managed to arrest the slide in a dominant win over Wisconsin, reaching bowl eligibility for the first time since 2016. : It's been a brutal season for the Golden Bears, who have suffered three losses by two points or less. But they reached bowl eligibility with a win over rival Stanford, and quarterback Fernando Mendoza's shows why college football is still the absolute best. : The fired Mike Houston after a 3-4 start, but they've now won four in a row under interim coach Blake Harrell, which was enough for ECU to take the "interim" tag off his title on Monday. : The Beavers captured the Pac-12 championship, winning the lone conference game of the season in upset fashion over Washington State. The field at Reser Stadium was stormed in one of quite a few stormings we saw on Saturday. : It's still a disappointing season in Baton Rouge, but holding on to beat Vanderbilt could prove to be the difference between a frustrating finish and a full-on fan revolt against Brian Kelly. : The Tigers' brutal luck in close games finally turned, and the offense looked the best it has all season as it held on to potentially ruin Texas A&M's season in four overtimes. : The held on to win a back-and-forth game against Utah, and despite a couple tough losses seemingly taking them out of contention, they now control their destiny in the Big 12 once more ahead of the season finale against Kansas State. : The haven't had a fun debut season in the SEC, but knocking off Alabama in front of the home crowd is certainly something they'll remember for a while. : The Golden Flashes needed to win over 2-8 Akron to have a real shot at avoiding 0-12 in a brutal campaign. They lost that game 38-17. : It's been quite the improvement in Boulder this season, but it's clear the Buffs just aren't there yet after Kansas' offense had them tied in knots all night. : The Cowboys are an unbelievable 0-8 after a shootout loss to Texas Tech. This veteran-heavy team was expected to compete for the Big 12 this season, and instead, it's been the worst in the league. : A blowout loss to South Florida was enough for the Golden Hurricane to pull the plug on the Kevin Wilson era in less than two seasons. It's a hire that didn't really make sense from the start, and it ended predictably in Tulsa. : A season that began with such promise has really gone by the wayside down the stretch. The Panthers fell to 7-4 with a demoralizing 37-9 road loss to Louisville. : It's been a special season for Army, but its outside College Football Playoff hopes rested on pulling the top-10 upset over the Irish. : At the risk of sounding like an old man yelling at a cloud, this is getting out of hand. There have been so many field stormings in college football this season that I can't even keep track of them, and fans have gotten so overzealous that not once, but twice on Saturday we saw them storm the field before the clock hit zeroes, leading to lengthy delays and fines for the schools in question. Folks, knock it off.

FIFA confirms 2034 World Cup coming to Saudi ArabiaATLANTA, Dec. 11, 2024 (GLOBE NEWSWIRE) -- Oxford Industries, Inc. (NYSE:OXM) today announced financial results for its third quarter of fiscal 2024 ended November 2, 2024. Consolidated net sales in the third quarter of fiscal 2024 were $308 million compared to $327 million in the third quarter of fiscal 2023. Loss per share on a GAAP basis was $0.25 compared to net earnings per share of $0.68 in the third quarter of fiscal 2023. On an adjusted basis, loss per share was $0.11 compared to net earnings per share of $1.01 in the third quarter of fiscal 2023. Tom Chubb, Chairman and CEO, commented, “Following a difficult third quarter, we are pleased with the beginning of the holiday season now that some recent headwinds have started to abate. The cumulative effects of several years of high inflation combined with distractions from the U.S. elections and other world events, led to less frequent and more tentative consumer spending behavior during the third quarter which is traditionally our smallest volume quarter of the year. Additionally, our most significant and important market, the Southeastern United States, was impacted by two major hurricanes in quick succession that resulted in estimated lost sales of $4 million and an estimated impact of $0.14 per share. When combined with a highly competitive and promotional environment, these headwinds led to financial performance that was weaker than expected.” Mr. Chubb concluded, “Encouragingly, consumers have responded favorably to our recent product introductions and marketing campaigns, driving a nice improvement in comp store trends once the holiday season got underway. However, due to the weaker than expected consumer environment before the election and the fourth quarter impact of the hurricanes, which we project will include an additional $3 million of lost revenue and $0.11 per share, we have lowered our fiscal 2024 sales and EPS guidance. We are confident that our business model will drive profitable growth and long-term shareholder value well into the future. We could not do this without our exceptional team of people, to whom we extend our sincere gratitude.” Third Quarter of Fiscal 2024 versus Fiscal 2023 Consolidated net sales of $308 million decreased compared to sales of $327 million in the third quarter of fiscal 2023. Full-price direct-to-consumer (DTC) sales decreased 8% to $200 million versus the third quarter of fiscal 2023. Full-price retail sales of $99 million were 6% lower than prior-year period. E-commerce sales of $101 million were 11% lower than prior-year period. Outlet sales of $17 million were 3% higher than prior-year period. Food and beverage sales were $24 million, a 4% increase versus prior-year period. Wholesale sales of $67 million were 2% lower than the third quarter of fiscal 2023. Gross margin was 63.1% on a GAAP basis, compared to 62.9% in the third quarter of fiscal 2023. The increase in gross margin was primarily due to a $4 million lower LIFO accounting charge and lower discounts at Lilly Pulitzer. This was partially offset due to full-price retail and e-commerce sales representing a lower proportion of net sales at Tommy Bahama, Lilly Pulitzer and Johnny Was with more sales occurring during promotional and clearance events. Adjusted gross margin, which excludes the effect of LIFO accounting, decreased to 63.0% compared to 64.0% on an adjusted basis in the prior-year period. SG&A was $205 million compared to $195 million last year. On an adjusted basis, SG&A was $201 million compared to $191 million in the prior-year period. The increase in SG&A was primarily driven by: Expenses related to 33 new store openings since the third quarter of fiscal 2023, including four Tommy Bahama Marlin Bars. Pre-opening expenses related to approximately five additional stores planned to open in the fourth quarter of fiscal 2024, including two additional Tommy Bahama Marlin Bars that are expected to open in the next few months. The addition of Jack Rogers. Royalties and other operating income of $4 million were comparable to the third quarter of fiscal 2023. Operating loss was $6 million, or (2.0%) of net sales, compared to operating income of $14 million, or 4.4% of net sales, in the third quarter of fiscal 2023. On an adjusted basis, operating income decreased to an operating loss of $3 million, or (1.1%) of net sales, compared to operating income of $21 million, or 6.6% of net sales, in the third quarter of fiscal 2023. The decreased operating income includes the impact of decreased net sales and increased SG&A as the Company continues to invest in the business. Interest expense decreased from $1 million in the prior year period. The decreased interest expense was primarily due to a lower average outstanding debt balance during the third quarter of fiscal 2024 than the third quarter of fiscal 2023. Due to lower earnings during the third quarter as compared to our other fiscal quarters, certain discrete or other items have a more pronounced impact on the effective tax rate. Our effective income tax rate of 42.5% for the third quarter of fiscal 2024 included the impact of discrete, favorable US federal return-to-provision adjustments primarily related to an increase in the research and development tax credit and certain adjustments to the US taxation on foreign earnings. For the third quarter of fiscal 2023, our effective income tax rate of 18.6% included the favorable utilization of the research and development tax credit and adjustments to the US taxation on foreign earnings which reduced the effective tax rate. Balance Sheet and Liquidity Inventory decreased $3 million, or 2%, on a LIFO basis and increased $2 million, or 1%, on a FIFO basis compared to the end of the third quarter of fiscal 2023. Inventory balances were comparable in all operating groups. During the first nine months of fiscal 2024, cash flow from operations was $104 million compared to $169 million in the first nine months of fiscal 2023. The cash flow from operations in the first nine months of fiscal 2024, along with borrowings of $29 million, provided sufficient cash to fund $92 million of capital expenditures and $33 million of dividends. During the third quarter of fiscal 2024, long-term debt decreased to $58 million compared to $66 million of borrowings outstanding at the end of the third quarter of fiscal 2023 as cash flow from operations exceeded increased capital expenditures primarily associated with the project to build a new distribution center in Lyons, Georgia, payments of dividends and working capital requirements. The Company had $7 million of cash and cash equivalents versus $8 million of cash and cash equivalents at the end of the third quarter of fiscal 2023. Dividend The Board of Directors declared a quarterly cash dividend of $0.67 per share. The dividend is payable on January 31, 2025 to shareholders of record as of the close of business on January 17, 2025. The Company has paid dividends every quarter since it became publicly owned in 1960. Outlook For fiscal 2024 ending on February 1, 2025, the Company revised its sales and EPS guidance. The Company now expects net sales in a range of $1.50 billion to $1.52 billion as compared to net sales of $1.57 billion in fiscal 2023. In fiscal 2024, GAAP EPS is expected to be between $5.78 and $5.98 compared to fiscal 2023 GAAP EPS of $3.82. Adjusted EPS is expected to be between $6.50 and $6.70, compared to fiscal 2023 adjusted EPS of $10.15. For the fourth quarter of fiscal 2024, the Company expects net sales to be between $375 million and $395 million compared to net sales of $404 million in the fourth quarter of fiscal 2023. GAAP EPS is expected to be between $1.02 and $1.22 in the fourth quarter compared to a GAAP loss per share of $3.85 in the fourth quarter of fiscal 2023 that included noncash impairment charges totaling $114 million, or $5.31 per share. Adjusted EPS is expected to be between $1.18 and $1.38 compared to adjusted EPS of $1.90 in the fourth quarter of fiscal 2023. The Company anticipates interest expense of $3 million in fiscal 2024, with interest expense expected to be $1 million in the fourth quarter of fiscal 2024. The Company’s effective tax rate is expected to be approximately 23% for the full year of fiscal 2024. Capital expenditures in fiscal 2024, including the $92 million in the first nine months of fiscal 2024, are expected to be approximately $150 million compared to $74 million in fiscal 2023. The planned year-over-year increase in capital expenditures includes approximately $75 million now budgeted in fiscal 2024 for the distribution center project in Lyons, Georgia. Additionally, we have been investing in new brick and mortar locations, relocations and remodels of existing locations resulting in a year-over-year net increase of full price stores of approximately 30 by the end of fiscal 2024, which includes approximately five planned to open in the fourth quarter of the year. We will also continue with our investments in our various technology systems initiatives, including e-commerce and omnichannel capabilities, data management and analytics, customer data and insights, cybersecurity, automation, including artificial intelligence, and infrastructure. Conference Call The Company will hold a conference call with senior management to discuss its financial results at 4:30 p.m. ET today. A live web cast of the conference call will be available on the Company’s website at www.oxfordinc.com. A replay of the call will be available through December 25, 2024 by dialing (412) 317-6671 access code 13750235. About Oxford Oxford Industries, Inc., a leader in the apparel industry, owns and markets the distinctive Tommy Bahama ® , Lilly Pulitzer ® , Johnny Was®, Southern Tide ® , The Beaufort Bonnet Company ® , Duck Head ® and Jack Rogers ® lifestyle brands. Oxford's stock has traded on the New York Stock Exchange since 1964 under the symbol OXM. For more information, please visit Oxford's website at www.oxfordinc.com. Basis of Presentation All per share information is presented on a diluted basis. Non-GAAP Financial Information The Company reports its consolidated financial statements in accordance with generally accepted accounting principles (GAAP). To supplement these consolidated financial results, management believes that a presentation and discussion of certain financial measures on an adjusted basis, which exclude certain non-operating or discrete gains, charges or other items, may provide a more meaningful basis on which investors may compare the Company’s ongoing results of operations between periods. These measures include adjusted earnings, adjusted earnings per share, adjusted gross profit, adjusted gross margin, adjusted SG&A, and adjusted operating income, among others. Management uses these non-GAAP financial measures in making financial, operational, and planning decisions to evaluate the Company’s ongoing performance. Management also uses these adjusted financial measures to discuss its business with investment and other financial institutions, its board of directors and others. Reconciliations of these adjusted measures to the most directly comparable financial measures calculated in accordance with GAAP are presented in tables included at the end of this release. Safe Harbor This press release includes statements that constitute forward-looking statements within the meaning of the federal securities laws. Generally, the words "believe," "expect," "intend," "estimate," "anticipate," "project," "will" and similar expressions identify forward-looking statements, which generally are not historical in nature. We intend for all forward-looking statements contained herein, in our press releases or on our website, and all subsequent written and oral forward-looking statements attributable to us or persons acting on our behalf, to be covered by the safe harbor provisions for forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 and the provisions of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934 (which Sections were adopted as part of the Private Securities Litigation Reform Act of 1995). Such statements are subject to a number of risks, uncertainties and assumptions including, without limitation, demand for our products, which may be impacted by macroeconomic factors that may impact consumer discretionary spending and pricing levels for apparel and related products, many of which may be impacted by inflationary pressures, elevated interest rates, concerns about the stability of the banking industry or general economic uncertainty, and the effectiveness of measures to mitigate the impact of these factors; possible changes in governmental monetary and fiscal policies, including, but not limited to, Federal Reserve policies in connection with continued inflationary pressures and the impact of the recent elections in the United States; competitive conditions and/or evolving consumer shopping patterns, particularly in a highly promotional retail environment; acquisition activities (such as the acquisition of Johnny Was), including our ability to integrate key functions, recognize anticipated synergies and minimize related disruptions or distractions to our business as a result of these activities; supply chain disruptions; changes in trade policies and regulations, including the potential for increases or changes in duties, current and potentially new tariffs or quotas; costs and availability of labor and freight deliveries, including our ability to appropriately staff our retail stores and food & beverage locations; costs of products as well as the raw materials used in those products, as well as our ability to pass along price increases to consumers; energy costs; our ability to respond to rapidly changing consumer expectations; unseasonal or extreme weather conditions or natural disasters, such as the September and October 2024 hurricanes impacting the Southeastern United States; lack of or insufficient insurance coverage; the ability of business partners, including suppliers, vendors, wholesale customers, licensees, logistics providers and landlords, to meet their obligations to us and/or continue our business relationship to the same degree as they have historically; retention of and disciplined execution by key management and other critical personnel; cybersecurity breaches and ransomware attacks, as well as our and our third party vendors’ ability to properly collect, use, manage and secure business, consumer and employee data and maintain continuity of our information technology systems; the effectiveness of our advertising initiatives in defining, launching and communicating brand-relevant customer experiences; the level of our indebtedness, including the risks associated with heightened interest rates on the debt and the potential impact on our ability to operate and expand our business; the timing of shipments requested by our wholesale customers; fluctuations and volatility in global financial and/or real estate markets; our ability to identify and secure suitable locations for new retail store and food & beverage openings; the timing and cost of retail store and food & beverage location openings and remodels, technology implementations and other capital expenditures; the timing, cost and successful implementation of changes to our distribution network; the effectiveness of recent, focused efforts to reassess and realign our operating costs in light of revenue trends, including potential disruptions to our operations as a result of these efforts; pandemics or other public health crises; expected outcomes of pending or potential litigation and regulatory actions; the increased consumer, employee and regulatory focus on sustainability issues and practices, including failures by our suppliers to adhere to our vendor code of conduct; the regulation or prohibition of goods sourced, or containing raw materials or components, from certain regions and our ability to evidence compliance; access to capital and/or credit markets; factors that could affect our consolidated effective tax rate; the risk of impairment to goodwill and other intangible assets such as the recent impairment charges incurred in our Johnny Was segment; and geopolitical risks, including ongoing challenges between the United States and China and those related to the ongoing war in Ukraine, the Israel-Hamas war and the conflict in the Red Sea region. Forward-looking statements reflect our expectations at the time such forward-looking statements are made, based on information available at such time, and are not guarantees of performance. Although we believe that the expectations reflected in such forward-looking statements are reasonable, these expectations could prove inaccurate as such statements involve risks and uncertainties, many of which are beyond our ability to control or predict. Should one or more of these risks or uncertainties, or other risks or uncertainties not currently known to us or that we currently deem to be immaterial, materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those anticipated, estimated or projected. Important factors relating to these risks and uncertainties include, but are not limited to, those described in Part I. Item 1A. Risk Factors contained in our Fiscal 2023 Form 10-K, and those described from time to time in our future reports filed with the SEC. We caution that one should not place undue reliance on forward-looking statements, which speak only as of the date on which they are made. We disclaim any intention, obligation or duty to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.Ministry eyes digital GDP growth of 5.7%