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Why Saints are excited for ‘lower expectations’ after mass exodusIOWA CITY — An Iowa senior offensive lineman announced his intentions to return to the program in 2025 on Tuesday. Center Logan Jones posted the announcement, a graphic with a short note explaining the decision, on Instagram. A caption "One last ride!" accompanied the post. "My time at the University of Iowa is something I will cherish forever," Jones said. "Representing the state of Iowa on Saturdays in the fall has created memories that will last a lifetime. To be able to wear the Black and Gold and swarm out with my teammates to the best fans in the country is truly special. "To have the chance to be able to play in the NFL is something I have dreamed of since I was a kid, but I am not done being a Hawkeye yet. Being a hawk has been a dream come true and I am excited for one last season with my brothers! Go Hawks!" Iowa offensive lineman Logan Jones (65) runs onto the field with teammates before an NCAA college football game against Western Michigan, Saturday, Sept. 16, 2023, in Iowa City, Iowa. CHARLIE NEIBERGALL, ASSOCIATED PRESS Jones started 38 games over the past three seasons for the Hawkeyes since moving from defensive line to center. The Council Bluffs Lewis Central product earned All-Big Ten first-team honors from the league's media and second-team honors from the Associated Press and Big Ten coaches. Jones' return marks a major win for the Hawkeyes as Pro Football Focus (PFF) rated the senior as the top center in the conference with one sack allowed all season. Iowa transfer portal tracker: Which Hawkeyes have entered the portal since it opened Monday? Iowa cleans up in postseason conference honors from league coaches, media, AP Nashville flight, hotel prices, drive time for Iowa fans headed to Music City Bowl
Ange Postecoglou lays into Timo Werner for 'UNACCEPTABLE' display - after hauling off the Tottenham star at half-time of Europa League draw with Rangers Dejan Kulusevski rescued a point for Tottenham away at Rangers on Thursday The Swede replaced Timo Werner at the break, who had another night to forget LISTEN NOW: It's All Kicking Off! Mason Mount? Marcus Rashford? Joshua Zirkzee? Who should Manchester United sell to raise funds? By MATT BARLOW Published: 22:58 GMT, 12 December 2024 | Updated: 01:16 GMT, 13 December 2024 e-mail 36 View comments Ange Postecoglou savaged Timo Werner for his performance after hauling the Germany international off at half-time against Rangers . Werner was replaced Dejan Kulusevski who rescued a point for Tottenham with a late equaliser at Ibrox. 'He wasn't playing anywhere near the level he should,' said Postecoglou when asked if the change was tactical. 'When you've got 18-year-olds out there, it's not acceptable to me. I said that to Timo. 'He's a senior international, he's a German international. In the moment we're in right now, it's not like we've got many options. 'I need everyone to at least be going out there trying to give the best of themselves. His performance in the first half wasn't acceptable.' Tottenham are locked in an injury crisis and patched-up at the back, missing three central defenders, their number one goalkeeper and two strikers. Ange Postecoglou laid into Timo Werner after his performance against Rangers on Thursday The German international was hooked by his manager at half-time against the Scottish giants 'It's not really of great concern,' said Postecoglou, when how Werner had taken the criticism. 'We need everybody including him to be contributing. Because we don't have the depth to leave people out if they're performing poorly. 'We need them to play their part. Especially the senior guys. When I'm asking younger guys to do massive jobs. I expect a level of performance from some of the senior guys. And today wasn't that.' Overall, the Spurs boss was satisfied with a point. 'We were nowhere near our best,' said Postecoglou. 'Whether or not it's a fair result is for others to judge. 'But in the period of games we're grinding through, with a depleted squad, asking players to get up week in week out, it's a good outcome. 'In the context of where we are in Europe, with next games in the New Year, which gives us a chance to be in a better place, I think it's a pretty good point. We'll look back on this as an important point.' Ange Postecoglou Rangers Tottenham Hotspur Share or comment on this article: Ange Postecoglou lays into Timo Werner for 'UNACCEPTABLE' display - after hauling off the Tottenham star at half-time of Europa League draw with Rangers e-mail Add commentThe NCAA on Thursday moved the 2026 and 2027 Division I FCS national championship games to FirstBank Stadium in Nashville, Tennessee, the result of a two-year renovation to the current title home in Frisco, Texas. Toyota Stadium will be undergoing a major overhaul after this year's title game on Monday night, Jan. 6. The Nashville Sports Council along with the Ohio Valley Conference will be the hosts for the Nashville game, which will be played on the campus of Vanderbilt University. The newly renovated Vandy stadium seats 35,000. The NCAA left open the possibility of returning the game to Frisco in 2028. Frisco has hosted the game since 2011.Joe Biden begins final White House holiday season with turkey pardons for 'Peach' and 'Blossom' WASHINGTON (AP) — President Joe Biden has kicked off his final holiday season at the White House, issuing the traditional reprieve to two turkeys who will bypass the Thanksgiving table to live out their days in Minnesota. The president welcomed 2,500 guests under sunny skies as he cracked jokes about the fates of “Peach” and “Blossom.” He also sounded wistful tones about the last weeks of his presidency. Separately, first lady Jill Biden received the delivery of the official White House Christmas tree. And the Bidens are traveling to New York later Monday for an early holiday celebration with members of the Coast Guard. Bah, humbug! Vandal smashes Ebenezer Scrooge's tombstone used in 'A Christmas Carol' movie LONDON (AP) — If life imitates art, a vandal in the English countryside may be haunted by The Ghost of Christmas Yet to Come. Police in the town of Shrewsbury are investigating how a tombstone at the fictional grave of Ebenezer Scrooge was destroyed. The movie prop used in the 1984 adaption of Charles Dickens' “A Christmas Carol” had become a tourist attraction. The film starred George C. Scott as the cold-hearted curmudgeon who is visited by three ghosts on Christmas Eve who show him what will become of his life if he doesn’t become a better person. West Mercia Police say the stone was vandalized in the past week. Megachurch founder T.D. Jakes suffers health incident during sermon at Dallas church DALLAS (AP) — The founder of Dallas-based megachurch The Potter's House, Bishop T.D. Jakes, was hospitalized after suffering what the church called a “slight health incident.” Jakes was speaking to churchgoers after he sat down and began trembling as several people gathered around him Sunday at the church. Jakes' daughter Sarah Jakes Roberts and her husband Touré Roberts said in a statement on social media late Sunday that Jakes was improving. The 67-year-old Jakes founded the non-denominational The Potter's House in 1996 and his website says it now has more than 30,000 members with campuses in Fort Worth and Frisco, Texas; and in Denver. Warren Buffett gives away another $1.1B and plans for distributing his $147B fortune after his death OMAHA, Neb. (AP) — Investor Warren Buffett renewed his Thanksgiving tradition of giving by announcing plans Monday to hand more than $1.1 billion of Berkshire Hathaway stock to four of his family's foundations, and he offered new details about who will be handing out the rest of his fortune after his death. Buffett has said previously that his three kids will distribute his remaining $147.4 billion fortune in the 10 years after his death, but now he has also designated successors for them because it’s possible that Buffett’s children could die before giving it all away. Buffett said he has no regrets about his decision to start giving away his fortune in 2006. At the crossroads of news and opinion, 'Morning Joe' hosts grapple with aftermath of Trump meeting The reaction of those who defended “Morning Joe” hosts Joe Scarborough and Mika Brzezinski for meeting with President-elect Trump sounds almost quaint in the days of opinionated journalism. Doesn't it makes sense, they said, for hosts of a political news show to meet with such an important figure? But given how “Morning Joe” has attacked Trump, its viewers felt insulted. Many reacted quickly by staying away. It all reflects the broader trend of opinion crowding out traditional journalist in today's marketplace, and the expectations that creates among consumers. By mid-week, the show's audience was less than two-thirds what it has typically been this year. Pop star Ed Sheeran apologizes to Man United boss Ruben Amorim for crashing interview MANCHESTER, England (AP) — British pop star Ed Sheeran has apologized to Ruben Amorim after inadvertently interrupting the new Manchester United head coach during a live television interview. Amorim was talking on Sky Sports after United’s 1-1 draw with Ipswich on Sunday when Sheeran walked up to embrace analyst Jamie Redknapp. The interview was paused before Redknapp told the pop star to “come and say hello in a minute.” Sheeran is a lifelong Ipswich fan and holds a minority stake in the club. He was pictured celebrating after Omari Hutchinson’s equalizing goal in the game at Portman Road. A desert oasis outside of Dubai draws a new caravan: A family of rodents from Argentina AL QUDRA LAKES, United Arab Emirates (AP) — A desert oasis hidden away in the dunes in the far reaches of skyscraper-studded Dubai has drawn a surprising new set of weary world travelers: a pack of Argentinian rodents. A number of Patagonian mara, a rabbit-like mammal with long legs, big ears and a body like a hoofed animal, now roam the grounds of Al Qudra Lakes, typically home to gazelle and other desert creatures of the United Arab Emirates. How they got there remains a mystery in the UAE, a country where exotic animals have ended up in the private homes and farms of the wealthy. But the pack appears to be thriving there and likely have survived several years already in a network of warrens among the dunes. Pilot dies in plane crash in remote woods of New York, puppy found alive WINDHAM, N.Y. (AP) — Authorities say a pilot and at least one dog he was transporting died when a small plane crashed in the snowy woods of the Catskill Mountains, though a puppy on the flight was found alive with two broken legs. The Greene County sheriff’s office says Seuk Kim of Springfield, Virginia, was flying from Maryland to Albany, New York, when the plane crashed at about 6:10 p.m. Sunday in a remote area. Officials believe the pilot died from the impact. The surviving dog was hospitalized, while a third dog was not located. The flight was connected with a not-for-profit group that transports rescue animals. New Zealanders save more than 30 stranded whales by lifting them on sheets WELLINGTON, New Zealand (AP) — More than 30 pilot whales that stranded themselves on a beach in New Zealand have been safely returned to the ocean after conservation workers and residents helped to refloat them by lifting them on sheets. New Zealand’s conservation agency said four whales died. New Zealand is a whale stranding hotspot and pilot whales are especially prolific stranders. The agency praised as “incredible” the efforts made by hundreds of people to help save the foundering pod. A Māori cultural ceremony for the three adult whales and one calf that died in the stranding took place Monday. Rainbow-clad revelers hit Copacabana beach for Rio de Janeiro’s pride parade RIO DE JANEIRO (AP) — Thousands of revelers have gathered alongside Copacabana beach for Rio de Janeiro’s annual gay pride parade, many scantily dressed and covered in glitter. Rainbow-colored flags, towels and fans abounded among the crowd mostly made up of young revelers, who danced and sang along to music blaring from speakers. While the atmosphere was festive, some spoke of the threat of violence LGBTQ+ people face in Brazil. At least 230 LGBTQ+ Brazilians were victims of violent deaths in 2023, according to the umbrella watchdog group Observatory of LGBTQ+ deaths and violence in Brazil.By JOSH BOAK WASHINGTON (AP) — President-elect Donald Trump on Thursday voiced his support for the dockworkers union before their contract expires next month at Eastern and Gulf Coast ports, saying that any further “automation” of the ports would harm workers. Related Articles National Politics | IRS recovers $4.7B in back taxes, braces for Trump cuts National Politics | Trump claims Melania will move to Washington, be ‘active’ first lady National Politics | Will Kamala Harris run for California governor in 2026? The question is already swirling National Politics | Biden says healthy women help US prosperity as he highlights White House initiative on their health National Politics | Gov. Newsom uses federal health care dollars to help house the homeless. Donald Trump could stop that The incoming president posted on social media that he met Harold Daggett, the president of the International Longshoreman’s Association, and Dennis Daggett, the union’s executive vice president. “I’ve studied automation, and know just about everything there is to know about it,” Trump posted. “The amount of money saved is nowhere near the distress, hurt, and harm it causes for American Workers, in this case, our Longshoremen. Foreign companies have made a fortune in the U.S. by giving them access to our markets. They shouldn’t be looking for every last penny knowing how many families are hurt.” The International Longshoremen’s Association has until Jan. 15 to negotiate a new contract with the U.S. Maritime Alliance, which represents ports and shipping companies. At the heart of the dispute is whether ports can install automated gates, cranes and container-moving trucks that could make it faster to unload and load ships. The union argues that automation would lead to fewer jobs, even though higher levels of productivity could do more to boost the salaries of remaining workers. The Maritime Alliance said in a statement that the contract goes beyond ports to “supporting American consumers and giving American businesses access to the global marketplace – from farmers, to manufacturers, to small businesses, and innovative start-ups looking for new markets to sell their products.” “To achieve this, we need modern technology that is proven to improve worker safety, boost port efficiency, increase port capacity, and strengthen our supply chains,” said the alliance, adding that it looks forward to working with Trump. In October, the union representing 45,000 dockworkers went on strike for three days, raising the risk that a prolonged shutdown could push up inflation by making it difficult to unload container ships and export American products overseas. The issue pits an incoming president who won November’s election on the promise of bringing down prices against commitments to support blue-collar workers along with the kinds of advanced technology that drew him support from Silicon Valley elite such as billionaire Elon Musk. Trump sought to portray the dispute as being between U.S. workers and foreign companies, but advanced ports are also key for staying globally competitive. China is opening a $1.3 billion port in Peru that could accommodate ships too large for the Panama Canal. There is a risk that shippers could move to other ports, which could also lead to job losses. Mexico is constructing a port that is highly automated, while Dubai, Singapore and Rotterdam already have more advanced ports. Instead, Trump said that ports and shipping companies should eschew “machinery, which is expensive, and which will constantly have to be replaced.” “For the great privilege of accessing our markets, these foreign companies should hire our incredible American Workers, instead of laying them off, and sending those profits back to foreign countries,” Trump posted. “It is time to put AMERICA FIRST!”
December 12 - Houston Texans wide receiver Nico Collins scored a touchdown against the Tennessee Titans in his most recent home game and tossed the ball to a child in the stands pleading for it. On Thursday, Collins told reporters the NFL did not approve and assessed him a fine of about $5,000. "It's for the kids," Collins said. "I seen he was screaming and was thinking, ‘Here you go, big dog. Here's the ball.'" Collins said he was not penalized last season on the handful of occasions he threw a ball into the stands, so he wasn't expecting a fine. But making a child's day was "definitely worth it." The 25-year-old said he plans to appeal the fine, but if it isn't overturned, he'll pay up. "The only thing that matters was making that kid happy," he said. "He ain't never going to forget that moment. So that's all that matters to me." Collins followed up a 92-yard, one-touchdown performance that day against Tennessee with eight receptions for 119 yards last week at Jacksonville. The fourth-year wideout is Houston's leading receiver despite missing five games due to a hamstring injury. He has caught 49 passes for 832 yards and four touchdowns in just eight appearances. --Field Level Media Our Standards: The Thomson Reuters Trust Principles. , opens new tab
General Dynamics Board Declares Dividend, Authorizes Additional Share Repurchases
FIRST NINE MONTHS OF 2024: HIGHLIGHTS TOTAL NET SALES WERE €243.9 MILLION, IN LINE WITH THE SAME PERIOD IN 2023 (-0.3%). BRANDED SALES WERE €221.2 MILLION, UP 0.3% FROM 2023 SAME PERIOD AND UP 3.1% FROM 2019 SAME PERIOD. BRANDED SALES WERE 93.0% OF TOTAL SALES, COMPARED TO 92.6% IN THE SAME PERIOD OF 2023 AND 78.5% IN THE SAME PERIOD OF 2019. DOS SALES WERE €57.4 MILLION, UP 6.3% FROM 2023 AND UP 20.8% FROM 2019 SAME PERIODS. 2024 GROWTH WAS DRIVEN BY A 22.3% SALES INCREASE FROM DOS IN THE U.S, WHERE WE OPENED 1 ADDITIONAL STORE IN DENVER. DURING THE FIRST 9 MONTHS OF 2024, WE CLOSED TWO NON-PERFORMING NATUZZI ITALIA STORES, ONE IN SPAIN AND ONE IN SWITZERLAND, AS PART OF OUR ONGOING EFFORT TO PROGRESSIVELY IMPROVE THE QUALITY OF OUR RETAIL. AS PART OF OUR TRANSFORMATION, DURING THE FIRST 9 MONTHS OF 2024, WE ACCELERATED OUR RESTRUCTURING WHICH AFFECTED P&L RESULTS WITH (€4.8) MILLION OF ONE-OFF SEVERANCE COSTS: - (€4.1) MILLION ACCRUED IN COST OF SALES; - (€0.7) MILLION ACCRUED IN SELLING AND ADMINISTRATIVE EXPENSES. DURING THE FIRST 9 MONTHS OF THE YEAR, 538 PERSONS EXITED OUR GROUP. THESE EXITS WERE PARTIALLY OFFSET BY HIRES IN STRATEGIC AREAS SUCH AS RETAIL, MARKETING AND MERCHANDISING. FROM 2021 TO SEPTEMBER 2024, WE HAD A NET REDUCTION OF 1110 PERSONS, EQUIVALENT TO A ~26% OF TOTAL. IN THE FIRST NINE MONTHS OF 2024, GROSS MARGIN WAS 35.8%, COMPARED TO 35.8% IN THE FIRST NINE MONTHS OF 2023 AND 29.0% IN THE FIRST NINE MONTHS OF 2019. EXCLUDING (€4.1) MILLION OF ONE-OFF SEVERANCE COSTS, GROSS MARGIN WOULD HAVE BEEN 37.4%, WHICH COMPARES TO 36.3% IN 2023 FIRST NINE MONTHS AND 30.0% IN 2019 FIRST NINE MONTHS. IN THE FIRST NINE MONTHS OF 2024, WE HAD AN OPERATING LOSS OF (€3.6) MILLION, COMPARED TO AN OPERATING LOSS OF (€2.2) MILLION IN 2023 FIRST NINE MONTHS AND AN OPERATING LOSS OF (€19.5) MILLION 2019 FIRST NINE MONTHS. EXCLUDING (€4.8) MILLION OF ONE-OFF SEVERANCE COSTS, WE WOULD HAVE REPORTED AN OPERATING PROFIT OF €1.2 MILLION, WHICH COMPARES TO AN OPERATING LOSS OF (€0.7) MILLION IN 2023 FIRST NINE MONTHS AND TO AN OPERATING LOSS OF (€16.1) MILLION IN 2019 FIRST NINE MONTHS. NET FINANCE COSTS WERE (€7.4) MILLION, COMPARED TO (€5.6) MILLION IN 2023 AND (€7.7) MILLION IN 2019 SAME PERIOD, MAINLY AS A CONSEQUENCE OF HIGHER INTEREST EXPENSES ON LEASE CONTRACTS AND THIRD-PARTY FINANCING, AS WELL AS UNFAVORABLE CURRENCY MOVEMENTS ON TRADE PAYABLES AND RECEIVABLES. DURING THE FIRST 9 MONTHS OF 2024, WE INVESTED €5.4 MILLION, PRIMARILY TO UPGRADE OUR ITALIAN FACTORIES AND FOR THE DOS LOCATED IN THE U.S. AND ITALY. WE CONTINUE THE DIVESTMENT PROGRAM OF NON-STRATEGIC ASSETS WE ANNOUNCED: - WE RECEIVED $3.8 MILLION IN OCTOBER 2024 AS A FIRST INSTALLMENT FOR THE SALE OF A BUILDING LOCATED IN HIGH POINT, NORTH CAROLINA. - WE SIGNED A PRELIMINARY AGREEMENT FOR THE SALE OF A LAND IN ROMANIA FOR AN EXPECTED PRICE BETWEEN €2.9 AND €3.1 MILLION. - AS OF SEPTEMBER 30, 2024, WE HELD €17.1 MILLION IN CASH, FROM €33.6 MILLION AS OF DECEMBER 31, 2023. IN PARTICULAR, THE DIFFERENCE IN CASH IS DETERMINED AS FOLLOWS: - NET CASH USED IN OPERATING ACTIVITIES (€5.1) MILLION. OF THIS, (€6.0) MILLION TO REDUCE WORKFORCE; - NET CASH USED IN INVESTING ACTIVITIES (€5.4) MILLION; - NET CASH USED IN FINANCING ACTIVITIES (€7.1) MILLION; - EFFECT OF MOVEMENTS EXCHANGE RATES ON CASH (€0.4) MILLION; - DIFFERENCE IN BANK-OVERDRAFT REPAYABLE ON DEMAND €1.5 MILLION. 3Q 2024: HIGHLIGHTS TOTAL NET SALES WERE €75.0 MILLION, IN LINE WITH 3Q 2023 (+0.1%). BRANDED SALES WERE €68.8 MILLION, UP 0.3% FROM 3Q 2023 AND UP 4.6% FROM 3Q 2019. BRANDED SALES WERE 93.7% OF TOTAL SALES, COMPARED TO 93.9% IN 3Q 2023 AND 78.6% IN 3Q 2019. DOS SALES WERE €16.8 MILLION, DOWN 1.4% FROM €17.1 MILLION IN 3Q 2023 AND UP 25.7% FROM €13.4 MILLION IN 3Q 2019. AS PART OF OUR TRANSFORMATION, DURING 3Q 2024, WE ACCELERATED OUR RESTRUCTURING WHICH AFFECTED P&L RESULTS WITH (€3.4) MILLION OF ONE-OFF SEVERANCE COSTS: - (€2.9) MILLION ACCRUED IN COST OF SALES; - (€0.5) MILLION ACCRUED IN SELLING AND ADMINISTRATIVE EXPENSES. IN 3Q 2024, 276 PERSONS EXITED OUR GROUP. THESE EXITS ARE MAINLY DUE TO THE CLOSING OF OUR SHANGHAI PLANT, WHOSE PRODUCTION WAS MOVED TO QUANJIAO. IN 3Q 2024, GROSS MARGIN WAS 31.8%, COMPARED TO 35.4% IN 3Q 2023 AND 28.7% IN 3Q 2019. EXCLUDING (€2.9) MILLION OF ONE-OFF SEVERANCE COSTS, GROSS MARGIN WOULD HAVE BEEN 35.7%, WHICH COMPARES TO 35.5% IN 3Q 2023 AND 30.5% IN 3Q 2019. IN 3Q 2024, WE HAD AN OPERATING LOSS OF (€3.8) MILLION, COMPARED TO A LOSS OF (€1.4) MILLION IN 3Q 2023 AND A LOSS OF (€8.7) MILLION IN 3Q 2019. EXCLUDING (€3.4) MILLION OF ONE-OFF SEVERANCE COSTS, WE WOULD HAVE REPORTED AN OPERATING LOSS OF (€0.4) MILLION, WHICH COMPARES TO AN OPERATING LOSS OF (€1.1) MILLION IN 3Q 2023 AND AN OPERATING LOSS OF (€6.8) MILLION IN 3Q 2019. NET FINANCE COSTS WERE (€3.3) MILLION, COMPARED TO NET FINANCE COSTS OF (€1.4) MILLION IN 3Q 2023 AND (€3.1) MILLION IN 3Q 2019, MAINLY AS A CONSEQUENCE OF HIGHER INTEREST EXPENSES ON LEASE CONTRACTS AND THIRD-PARTY FINANCING, AS WELL AS UNFAVORABLE CURRENCY MOVEMENTS ON TRADE PAYABLES AND RECEIVABLES. DURING 3Q 2024, WE INVESTED €1.7 MILLION, PRIMARILY TO UPGRADE OUR ITALIAN FACTORIES AND FOR THE DOS LOCATED IN THE U.S. AND ITALY. *** Natuzzi S.p.A. NTZ ("we", "Natuzzi" or the "Company" and, together with its subsidiaries, the "Group"), one of the most renowned brands in the production and distribution of design and luxury furniture, today reported its unaudited financial information for the first nine months and third quarter ended September 30, 2024. Pasquale Natuzzi, Executive Chairman of the Group, commented: " We are living in a dual-speed reality. On one hand, our performance reflects the ongoing challenges posed by the persistent economic crisis. On the other hand, we are seeing growing evidence of the strength of our long-term Brand/Retail project, which continues to gain momentum, paving the conditions to capture the full potential of our Brands. On November 12, I had the privilege of inaugurating the Natuzzi Harmony Residences, a 110,000-square-feet, 9-floor building with 50 apartments, located in a prestigious area in Dubai. For the first time, we have led the whole architectural and creative direction both for the exterior and interior design, resulting in a project which is a living tribute to our Brand DNA. This initiative is a clear testament that our Brand enjoys global recognition and that we completed our evolution into a lifestyle brand. We also continue to innovate and lead where our brand has its origins. In October, at the High Point Market, we unveiled our 'Re-imagined Gallery' concept — an innovative format designed to strengthen the coherence of the Natuzzi brand representation and improve commercial performance with our distribution partners. The 'Re-imagined Gallery' has since become our global standard for the brand's presence in multi-brand retailers. Along with our global retail format, it ensures consistent brand representation across markets and channels. Thanks to these efforts, we are increasingly presenting our collection in a unified and inspiring way across our 678 stores and 628 galleries worldwide. These results testify that Natuzzi is one of the few global design and high-end furniture brands. They also reinforce my belief that, moving forward, the positive impact of our strategic initiatives will effectively counterbalance market headwinds, positioning us for a prosperous future." Antonio Achille, CEO of the Group, commented: " Our sales during the first nine months of 2024 have been in line with the previous year, despite challenging conditions that continued to impact not only the furnishings sector but also the broader durable and consumer goods industries. This was achieved, despite a soft third quarter, which was significantly below the year's average, thereby affecting deliveries in August and September. In this regard, we need to remember the cycle of our business innovation. For instance, the merchandising and retail initiatives for Natuzzi Italia, introduced during April's Milan Design Week, reached the market only by late September. This was reflected in Natuzzi Italia's delivered sales for the first nine months, which were 0.9% lower compared to the same period in 2023. Natuzzi Italia performance improved in the last two months, effectively closing the gap with 2023 levels. Looking ahead, the focus for Natuzzi Italia will remain on the consistent rollout of the Brand/Retail/Marketing strategy, with a particular emphasis on priority markets, such as U.S., China, UK, Spain and Italy. Natuzzi Editions, distributed in Italy under the "Divani&Divani by Natuzzi" brand, has reported overall revenue slightly up compared to the previous year (+1.1%). We are actively engaging customers through targeted global initiatives, such as the "Re-imagined gallery" project, aimed at building a stronger foundation to reinforce this positive momentum. We remain confident that our brands and retail strategy are poised for significant growth and remain committed to executing the Company's long-term plan: 1) Improve the quality of our distribution to accelerate our Brand journey. Retail . The Group continues to make progresses in its transformation into a retail-branded company. Natuzzi collections are sold globally in 678 stores, of which 54 free standing DOS managed directly by the Group, 19 DOS managed by our JV in China, 3 DOS in partnership in the U.S. and 602 franchised stores. Our DOS sales increased by 6.3% compared to the first nine months of 2023, with U.S.-based DOS showing a growth of 22.3% over the same period also supported by the 4 DOS opened in 2023 (in San Diego, Manhasset, Houston, Atlanta) and the new Denver store opened in September 2024. Our North American retail network now includes 22 Natuzzi Italia stores (18 of which are directly operated and 4 operated by franchise partners) and 10 Natuzzi Editions stores, comprising 1 DOS, 3 stores operated in joint venture with a local partner and 6 franchise stores. Re-imagined Gallery. Natuzzi has redefined its wholesale shop-in-shop format resulting in an innovative concept designed to support independent retailers to properly represent the distinctiveness of our brand in their multi-brand environment, while improving their sell-out performances. We are witnessing a strong interest from both current and prospective partners. Since the global launch of this re-imagined Gallery Concept, Natuzzi has received proposals for 142 projects, including new openings and refits, which will be implemented starting from 1Q 2025. Reimagined Gallery program is also enabling us to re-enter into key European markets. In Germany, we recently si g ned a partnership with a leading furniture retailer, which resulted in the opening of 24 new Natuzzi Editions galleries. 2) Foster new market opportunities: Trade and Contract. I am particularly proud and thankful to our team for the progress made by the newly established division. 'Natuzzi Harmony Residences' in Dubai marks a transformative milestone for our business, reflecting our evolution and ambitions. It is a true testament to the power of the Natuzzi Italia brand, as it represents our first venture into designing and branding an entire residential building. This achievement reaffirms that establishing our dedicated Trade & Contract division was the right decision, enabling us to fully leverage Natuzzi's assets and expertise while setting distinct growth and profitability targets. 3) Enhance margins. Excluding €4.1 million of one-off severance costs, gross margin would have reached 37.4% in the first nine months of 2024, which compares to a gross margin of 36.3% in 2023 same period and 30.0% in 2019 same period. The gross margin was affected by the weak order flow during 3Q 2024, which negatively weighed on deliveries in August and September, resulting in a less efficient absorption of fixed costs for the period. 4) Execute our restructuring program. We remain committed to optimizing our operating model and reducing costs across factories and offices in Italy and abroad. In the first nine months of 2024, 538 employees (of which 276 in the third quarter) exited the Group, partially offset by strategic hires in retail, advertising, and merchandising. These reductions mainly involved factory workers in Romania, China, and Italy, as well as employees at the Group level. Since the beginning of 2021, we have achieved a net reduction of 1,110 positions—a 26% decrease. This reduction is part of our strategy of transitioning Natuzzi from a volume-driven to a value-driven organization. This shift requires a leaner workforce, new competencies, and an evolved approach to human resources and organization. We remain committed to implementing this plan ethically and in full compliance with the laws. As restructuring progresses, our streamlined model positions us to unlock greater value when sales return to historical levels. 5) Production simplification and efficiency improvement . We continue to conduct a comprehensive review of the Group's industrial operations to simplify processes, reduce working capital and drive further efficiencies. Our efforts to optimize the footprint of our Asian operations are progressing as planned. In 3Q 2024 we completed the closing of our historical factory in Shanghai, shifting the production to the new plant located in Quanjiao, Anhui Province, China. This new plant, which will serve exclusively the Chinese market, offers industrial and transformation costs which are approximately 30% lower compared to the Shanghai plant. 6) Divest non-strategic resources The Company continues to make progress in its strategy of divesting non-strategic assets. The sale of the building in High Point, NC, is proceeding as planned, with $3.8 million received in October. Additionally, in November, we signed a preliminary agreement for the sale of a land adjacent to our factory in Romania. The final price is expected to range between €2.9 million and €3.1 million. The transaction is anticipated to close by mid-2025, pending customary approvals and processes with the local municipality. The Company plans to use the net proceeds from the sale of non-strategic assets to fund restructuring initiatives and expand its DOS network, with a particular focus on the U.S. market. The challenging market continues to delay the full realization of benefits from our retail expansion and restructuring efforts. We remain dedicated to enhancing our brand-retail value proposition while steadily reducing the Group's fixed cost base." *** 2024 FIRST NINE MONTHS CONSOLIDATED REVENUE Consolidated revenue for the first nine months of 2024 amounted to €243.9 million, compared to €244.5 million in 2023 same period. 2024 performance was impacted by ongoing macroeconomic, geopolitical, and industry-specific challenges, which continued to dampen consumer spending capacity and delay purchases of durable goods. Excluding "other sales" of €6.1 million, 2024 invoiced sales from upholstered and other home furnishings products amounted to €237.8 million, compared to €238.1 million in 2023 same period. Revenues from upholstered and other home furnishings products are hereafter described according to the main dimensions of the Group's business: A: Branded/Unbranded Business B: Key Markets C: Distribution A. Branded/Unbranded business The Group operates in the branded business (with Natuzzi Italia , Natuzzi Editions and Divani&Divani by Natuzzi ) and unbranded business, the latter with collections dedicated to large-scale distribution. A1. Branded business . Within the branded business, Natuzzi is pursuing a dual-brand strategy: i) Natuzzi Italia , our luxury furniture brand, offers products entirely designed and manufactured in Italy and targets an affluent and more sophisticated global consumer with a highly inspirational collection that is largely the same across all our global stores to best represent our Brand. Natuzzi Italia products are almost exclusively sold in mono-brand stores (directly operated or franchises). ii) Natuzzi Editions , our contemporary collection, offers products entirely designed in Italy and produced in different plants strategically located to best serve individual markets (mainly China, Romania and Brazil). Natuzzi Editions products are distributed in Italy under the brand " Divani&Divani by Natuzzi", which is manufactured in Italy to shorten the lead time to serve the Italian market where the brand is distributed. The store merchandising of Natuzzi Editions, starting from a common collection, is tailored to best fit the opportunities of each market. The Natuzzi Editions products are sold primarily through galleries and selected mono-brand franchise stores. In 2024, Natuzzi's branded invoiced sales amounted to €221.2 million, compared to €220.6 million in 2023 same period. The following is the contribution of each Brand in terms of invoiced sales for the first nine months of 2024: ─ Natuzzi Italia invoiced sales amounted to €91.9 million, compared to €92.7 million in 2023 same period. ─ Natuzzi Editions invoiced sales (including invoiced sales from " Divani&Divani by Natuzzi" ) amounted to €129.3 million, compared to €127.9 million in 2023 same period. Specifically, Natuzzi Editions invoiced sales were €102.6 million, compared to €103.0 million in 2023 same period. Invoiced sales for Divani&Divani by Natuzzi were €26.7 million, compared to €24.9 million in 2023 same period. A2. Unbranded business . Invoiced sales from our unbranded business amounted to €16.6 million, compared to €17.5 million in 2023 same period. The Company's strategy is to focus on selected large accounts and serve them with a more efficient go-to-market model. B. Key Markets Below is a breakdown of upholstery and home-furnishings invoiced sales for the first nine months of 2024, compared to 2023 same period, according to the following geographic areas. 2024 2023 Delta € Delta % North America 76.9 69.5 7.4 10.6% Greater China 18.8 19.5 (0.7) (3.4%) West & South Europe 75.9 80.2 (4.3) (5.3%) Emerging Markets 31.8 34.2 (2.4) (7.2%) Rest of the World* 34.4 34.7 (0.3) (0.9%) Total 237.8 238.1 (0.3) (0.1%) Figures in €/million, except percentage. *Include South and Central America, Rest of APAC. In North America, the sales increase is primarily driven by the branded segment of the business, with significant contributions from our DOS and franchise stores in the U.S. In Greater China, the furniture industry and real estate markets continue to encounter significant challenges. Enhanced coordination efforts within our joint venture are instrumental in reducing the inventory of Natuzzi Italia products. The JV is realigning the organization's scale and capabilities to better reflect the current business trends. To date, the JV has already reduced SG&A expenses by almost 20% compared to the previous year, also as a result of a reduced number of employees. The JV plans to continue with this project to get a more agile structure, to a level coherent with the current business rate. The performance in West & South Europe reflects a generalized difficult macroeconomic condition, especially for some European mature markets, as well as the loss of disposable income by consumers as a result of prior different quarters of high interest rates and inflation. The emerging markets, and in particular East Europe and the Middle East, are still curbed by the worsening of international relations and the associated conflicts. C. Distribution During the first nine months of 2024, the Group distributed its branded collections in 103 countries, according to the following table. Direct Retail FOS Total retail stores (Sept. 30, 2024) North America 22 (1) 10 32 West & South Europe 31 100 131 Greater China 19 (2) 325 344 Emerging Markets ─ 78 78 Rest of the World 4 89 93 Total 76 602 678 (1) Included 3 DOS in the U.S. managed in joint venture with a local partner. As the Natuzzi Group does not exert full control in each of these DOS, we consolidate only the sell-in from such DOS. (2) All directly operated by our joint venture in China. As the Natuzzi Group owns a 49% stake in the joint venture and does not control it, we consolidate only the sell-in from such DOS. FOS = Franchise stores managed by independent partners. The Group also sells its branded products by means of 628 Natuzzi galleries (including 12 Natuzzi Concessions, i.e., store-in-store points of sale directly managed by the Mexican subsidiary of the Group). During the first nine months of 2024, the Group's invoiced sales from direct retail , including DOS and Concessions operated by the Group, were €57.4 million, compared to €54.0 million in 2023 same period. This growth was primarily driven by a 22.3% increase in sales from our US-based DOS. In 2024 we also closed two non-performing stores in Zurich, Switzerland, and Madrid, Spain. During the first nine months of 2024, invoiced sales from franchise stores (FOS) amounted to €97.8 million, compared to €98.7 million in 2023 same period. We continue executing our strategy to evolve into a Brand/Retailer and improve the quality of our distribution network. The weight of the invoiced sales generated by the retail network (Direct retail and Franchise Operated Stores) on total upholstered and home furnishings business in the first nine months of 2024 was 65.3% compared to 64.1% in 2023 same period and compared to 44.1% in 2019 same period. The Group also sells its products through the wholesale channel , consisting primarily of Natuzzi-branded galleries in multi-brand stores, as well as mass distributors selling mainly unbranded products. During the first nine months of 2024, invoiced sales from the wholesale channel amounted to €82.6 million, compared to €85.5 million in 2023 same period. We are placing renewed emphasis on the wholesale segment of our business, which remains a strategic channel in several geographies, including the U.S. and Europe. To support this, we are introducing a re-imagined gallery concept, which provides a practical setting for sales associates to engage with clients, narrate the captivating Natuzzi story, showcase our collections, and support sales. GROSS MARGIN Gross margin for the first nine months of 2024 was 35.8%, which compares to 35.8% in 2023 and 29.0% in 2019 same periods. Net of the (€4.1) million of one-off severance costs included in cost of sales, gross margin for the first nine months of 2024 would have been 37.4%. This would compare to 36.3% in 2023 same period and 30.0% in 2019 same period. 2024 Gross margin was partially affected by the weak business trend during 3Q 2024, that impacted deliveries in August and September, below the average for 2024. This resulted in a less efficient absorption of fixed costs, which, together with a different brand mix, inventory exits and costs related to moving production from Shanghai to Quanjiao, weighed on the improving trajectory of gross margin. 2024 consumption was (36.5%) on revenues, improving from (37.4%) in 2023 same period. In 2024, labor costs increased by €2.8 million compared to the same period in 2023. This rise includes €4.1 million in one-off severance-related expenses, primarily in China, Romania, and Italy, reflecting our ongoing efforts to optimize workforce levels across the Group's facilities. Additionally, labor costs rose in Romania, as part of the Government plan to increase the minimum wage, and in Italy, due to the renegotiation of national collective bargaining agreements. 3Q 2024 gross margin was 31.8%, compared to 35.4% in 3Q 2023 and 28.7% in 3Q 2019, as per the factors explained above. Net of the (€2.9) million of one-off severance costs, 3Q 2024 gross margin would have been 35.7%, which would compare to 35.5% in 3Q 2023 and 30.5% in 3Q 2019. OPERATING EXPENSES During the first nine months of 2024, operating expenses, which includes selling expenses, administrative expenses, other operating income/expenses, and the impairment of trade receivables, totaled (€90.8) million, or (37.2)% of revenue, compared to (€89.7) million, or (36.7)% of revenue in 2023 same period. In 2024, in particular, selling and administrative expenses were affected by the following factors, for a total of €3.1 million, compared to 2023 same period: - a €2.1 million of extra costs related to the opening of new DOS as well from the 4 additional stores opened in 2023; - a €1.0 million reduction in incentives from the Italian government compared to 2023 same period. During the first nine months of 2024, we accrued €0.7 million, to reduce the number of employees in Italy and in some of the Group's subsidiaries. During the first nine months of 2024, transportation costs as a percentage of revenue decreased to (7.8%) from (8.3%) during the same period in 2023. However, in 3Q 2024, they rose to (8.6%), compared to (7.6%) in 3Q 2023, primarily due to the Suez Canal crisis, which required rerouting shipments from China and Vietnam. To counter this inflationary pressure, the Company implemented freight surcharges starting in August 2024. In addition, within "Other income", during the first nine months of 2023, we benefitted from €2.0 million of extraordinary income mainly related to freight surcharges. In 2024, the benefits of similar extraordinary income were not significant. NET FINANCE INCOME/(COSTS) During the first nine months of 2024, the Company accounted for a total of (€7.4) million of Net Finance costs, compared to a total of (€5.6) million of Net Finance costs in 2023 same period. One of the main drivers of the difference between the two periods relates to unfavorable currency exchange movements, resulting in a net exchange rate loss of (€0.7) million in 2024, compared to a net exchange rate gain of €0.3 million in 2023 same period. Furthermore, persisting high interest rates continue to adversely impact our results, principally in terms of high interest expenses on lease contracts as well as third-party financing, resulting in 2024 finance costs of (€7.3) million compared to finance costs of (€6.6) million in 2023 same period. 2024 THIRD QUARTER: KEY RESULTS During 3Q 2024, the Company reported the following results: ─ Total revenue of €75.0 million, in line with €74.9 million in 3Q 2023. The third quarter is historically our slowest quarter, as Italian factories are customarily shut down for most of August. In addition, delivered sales during 3Q 2024 were significantly impacted by ongoing challenging business conditions resulting in lower than usual delivered sales in August and September. ─ We had gross margin of 31.8%, compared to 35.4% in 3Q 2023 and 28.7% in 3Q 2019. Excluding (€2.9) million of one-off severance-related costs to reduce workforce mainly at our Chinese factory, 3Q 2024 gross margin would have been 35.7%. As anticipated, 3Q 2024 gross margin was affected by a weak business trend during the quarter, particularly impacting delivered sales of Natuzzi Italia products, resulting in a less efficient absorption of fixed costs. In addition, a different brand mix, inventory exits and costs related to moving production from Shanghai to Quanjiao, further weighed on gross margin in 3Q 2024. ─ Operating expenses, which includes selling expenses, administrative expenses, other operating income/expenses, and the impairment of trade receivables, totaled (€27.7) million, or (36.9)% of revenue, compared to (€27.8) million, or (37.2)% of revenue in 3Q 2023. ─ Depreciation and amortization, which include also the depreciation charge of right-of-use assets related to the operating leases and accounted for in the cost of sales, selling and administrative expenses, amounted to €5.1 million in 3Q 2024, compared to €5.7 million in 3Q 2023 and €6.2 million in 3Q 2019. ─ In 3Q 2024 operating loss was (€3.8) million, which compares to a loss of (€1.4) million in 3Q 2023, and a loss of (€8.7) million in 3Q 2019. Net of the (€3.4) million of one-off severance costs, 3Q 2024 would have reported an operating loss of (€0.4) million. ─ Total Net Finance costs were (€3.3) million, compared to total Net Finance Costs of (€1.4) million in 3Q 2023, mainly as a result of: i) a €0.5 million increase in finance costs due to persisting high interest rates affecting in particular interest expenses on lease contracts and third-party financing, and ii) a €1.2 million negative difference from net exchange rate, following unfavorable currency movements. ─ We had a loss after tax for the period of (€7.4) million, primarily driven by the factors outlined above. This compares to a loss after tax of (€2.7) million in 3Q 2023 and to a loss after tax of (€11.7) million in 3Q 2019. CASH FLOW AND BALANCE SHEET As of September 30, 2024, we held €17.1 million in cash, from €33.6 million as of December 31, 2023, representing a decrease of €16.5 million. In particular, the difference in cash is determined as follows: ─ Net cash used in operating activities (€5.1) million. Of this, (€6.0) million to reduce workforce; ─ Net cash used in investing activities (€5.4) million; ─ Net cash used in financing activities (€7.1) million; ─ Effect of movements exchange rates on cash (€0.4) million; ─ Difference in bank-overdraft repayable on demand €1.5 million. As of September 30, 2024, we had a net financial position before lease liabilities (cash and cash equivalents minus long-term borrowings minus bank overdraft and short-term borrowings minus current portion of long-term borrowings) of (€28.7) million, compared to (€6.6) million as of December 31, 2023, indicating a deterioration of €22.1 million in the period. ******* Natuzzi S.p.A. and Subsidiaries Unaudited consolidated statement of profit or loss for the third quarter of 2024 and 2023 on the basis of IFRS-IAS (expressed in millions Euro, except as otherwise indicated) Third quarter ended on Change Percentage of revenue 30-Sep-24 30-Sep-23 % 30-Sep-24 30-Sep-23 Revenue 75.0 74.9 0.1 % 100.0 % 100.0 % Cost of Sales (51.1 ) (48.4 ) 5.7 % -68.2 % -64.6 % Gross profit 23.8 26.5 -10.0 % 31.8 % 35.4 % Other income 1.3 2.4 1.8 % 3.2 % Selling expenses (20.3 ) (21.6 ) -6.2 % -27.0 % -28.8 % Administrative expenses (8.5 ) (8.6 ) -0.8 % -11.3 % -11.4 % Impairment on trade receivables (0.3 ) (0.0 ) -0.4 % 0.0 % Other expenses 0.0 (0.1 ) 0.1 % -0.1 % Operating profit/(loss) (3.8 ) (1.4 ) -5.1 % -1.8 % Finance income 0.2 0.4 0.3 % 0.5 % Finance costs (2.4 ) (1.9 ) -3.1 % -2.5 % Net exchange rate gains/(losses) (1.1 ) 0.1 -1.5 % 0.2 % Net finance income/(costs) (3.3 ) (1.4 ) -4.4 % -1.9 % Share of profit/(loss) of equity-method investees (0.0 ) 0.4 0.0 % 0.5 % Profit/(Loss) before tax (7.1 ) (2.4 ) -9.4 % -3.2 % Income tax expense/(benefit) (0.3 ) (0.3 ) -0.4 % -0.4 % Profit/(Loss) for the period (7.4 ) (2.7 ) -9.9 % -3.6 % Profit/(Loss) attributable to: Owners of the Company (7.8 ) (2.7 ) Non-controlling interests 0.3 0.0 Natuzzi S.p.A. and Subsidiaries Unaudited consolidated statement of profit or loss for the nine months of 2024 and 2023 on the basis of IFRS-IAS (expressed in millions Euro, except as otherwise indicated) Nine months ended on Change Percentage of revenue 30-Sep-24 30-Sep-23 % 30-Sep-24 30-Sep-23 Revenue 243.9 244.5 -0.3 % 100.0 % 100.0 % Cost of Sales (156.7 ) (157.0 ) -0.2 % -64.25 % -64.21 % Gross profit 87.2 87.5 -0.4 % 35.8 % 35.8 % Other income 3.8 6.0 1.6 % 2.5 % Selling expenses (67.3 ) (68.2 ) -1.4 % -27.6 % -27.9 % Administrative expenses (27.0 ) (27.3 ) -1.1 % -11.1 % -11.1 % Impairment on trade receivables (0.3 ) (0.1 ) -0.1 % 0.0 % Other expenses (0.1 ) (0.2 ) 0.0 % -0.1 % Operating profit/(loss) (3.6 ) (2.2 ) -1.5 % -0.9 % Finance income 0.6 0.7 0.2 % 0.3 % Finance costs (7.3 ) (6.6 ) -3.0 % -2.7 % Net exchange rate gains/(losses) (0.7 ) 0.3 -0.3 % 0.1 % Net finance income/(costs) (7.4 ) (5.6 ) -3.1 % -2.3 % Share of profit/(loss) of equity-method investees 0.1 2.4 0.0 % 1.0 % Profit/(Loss) before tax (11.0 ) (5.5 ) -4.5 % -2.3 % Income tax expense (0.5 ) (0.9 ) -0.2 % -0.3 % Profit/(Loss) for the period (11.5 ) (6.4 ) -4.7 % -2.6 % Profit/(Loss) attributable to: Owners of the Company (11.9 ) (6.3 ) Non-controlling interests 0.4 (0.1 ) Natuzzi S.p.A. and Subsidiaries Unaudited consolidated statements of financial position (condensed) on the basis of IFRS-IAS (Expressed in millions of Euro) 30-Sep-24 31-Dec-23 ASSETS Non-current assets 176.0 188.6 Current assets 140.4 149.7 TOTAL ASSETS 316.4 338.3 EQUITY AND LIABILITIES Equity attributable to Owners of the Company 56.1 68.9 Non-controlling interests 4.6 4.3 Non-current liabilities 106.3 110.4 Current liabilities 149.5 154.7 TOTAL EQUITY AND LIABILITIES 316.4 338.3 Natuzzi S.p.A. and Subsidiaries Unaudited consolidated statements of cash flows (condensed) (Expressed in millions of Euro) 30-Sep-24 31-Dec-23 Net cash provided by (used in) operating activities (5.1 ) 3.2 Net cash provided by (used in) investing activities (5.4 ) (7.9 ) Net cash provided by (used in) financing activities (7.1 ) (15.7 ) Increase (decrease) in cash and cash equivalents (17.6 ) (20.4 ) Cash and cash equivalents, beginning of the year 31.6 52.7 Effect of movements in exchange rates on cash held (0.4 ) (0.8 ) Cash and cash equivalents, end of the period 13.6 31.6 For the purpose of the statements of cash flow, cash and cash equivalents comprise the following: (Expressed in millions of Euro) 30-Sep-24 31-Dec-23 Cash and cash equivalents in the statement of financial position 17.1 33.6 Bank overdrafts repayable on demand (3.5 ) (2.0 ) Cash and cash equivalents in the statement of cash flows 13.6 31.6 CONFERENCE CALL The Company will host a conference call on Friday December 13, 2024, at 10:00 a.m. U.S. Eastern time (4.00 p.m. Italy time, or 3.00 p.m. UK time) to discuss financial information . To join live the conference call, interested persons will need to either: i) dial-in the following number: Toll/International: + 1-412-717-9633, then passcode 39252103# , or ii) click on the following link : https://www.c-meeting.com/web3/join/3PQUFXRW48XTKQ to join via video. Participants also have the option to listen via phone after registering to the link. ***** CAUTIONARY STATEMENT CONCERNING FORWARD-LOOKING STATEMENTS Certain statements included in this press release constitute forward-looking statements within the meaning of the safe harbor provisions of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, as amended. These statements may be expressed in a variety of ways, including the use of future or present tense language. Words such as "estimate," "forecast," "project," "anticipate," "likely," "target," "expect," "intend," "continue," "seek," "believe," "plan," "goal," "could," "should," "would," "may," "might," "will," "strategy," "synergies," "opportunities," "trends," "ambition," "objective," "aim," "future," "potentially," "outlook" and words of similar meaning may signify forward-looking statements. These statements involve inherent risks and uncertainties, as well as other factors that may be beyond our control. The Company cautions readers that a number of important factors could cause actual results to differ materially from those contained in any forward-looking statement. Such factors include, but are not limited to: effects on the Group from competition with other furniture producers, material changes in consumer demand or preferences, significant economic developments in the Group's primary markets, the Group's execution of its reorganization plans for its manufacturing facilities, significant changes in labor, material and other costs affecting the construction of new plants, significant changes in the costs of principal raw materials and in energy costs, significant exchange rate movements or changes in the Group's legal and regulatory environment, including developments related to the Italian Government's investment incentive or similar programs, the duration, severity and geographic spread of any public health outbreaks (including the spread of new variants of COVID-19), consumer demand, our supply chain and the Company's financial condition, business operations and liquidity, the geopolitical tensions and market uncertainties resulting from the ongoing armed conflict between Russia and Ukraine and the Israel-Hamas war and the inflationary environment and increases in interest rates. The Company cautions readers that the foregoing list of important factors is not exhaustive. When relying on forward-looking statements to make decisions with respect to the Company, investors and others should carefully consider the foregoing factors and other uncertainties and events. Additional information about potential factors that could affect the Company's business and financial results is included in the Company's filings with the U.S. Securities and Exchange Commission, including the Company's most recent Annual Report on Form 20-F. The Company undertakes no obligation to update any of the forward-looking statements after the date of this press release. About Natuzzi S.p.A. Founded in 1959 by Pasquale Natuzzi, Natuzzi S.p.A. is one of the most renowned brands in the production and distribution of design and luxury furniture. As of September 30, 2024, Natuzzi distributes its collections worldwide through a global retail network of 678 monobrand stores and 628 galleries. Natuzzi products embed the finest spirit of Italian design and the unique craftmanship details of the "Made in Italy", where a predominant part of its production takes place. Natuzzi has been listed on the New York Stock Exchange since May 13, 1993. Committed to social responsibility and environmental sustainability, Natuzzi S.p.A. is ISO 9001 and 14001 certified (Quality and Environment), ISO 45001 certified (Safety on the Workplace) and FSC ® Chain of Custody, CoC (FSC-C131540). View source version on businesswire.com: https://www.businesswire.com/news/home/20241212991243/en/ © 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
The Black Friday on Amazon feature two exciting Xbox consoles at a record low price: the Xbox Series X – 1TB Digital Edition and the Xbox Series X 1TB SSD Console , both offering huge savings and advanced gaming experiences. The Xbox Series X digital edition is priced at $399 which is an 11% discount from its original price of $449. Meanwhile, the Xbox Series X disc drive console is available for $448 , which is a 10% savings off its list price of $499. See Xbox Series X Digital Edition at Amazon See Xbox Series X Disc Drive Edition at Amazon Both consoles come with Amazon’s early Black Friday price guarantee : if the price drops further during the sale period, you will receive a refund for the difference. Furthermore, Amazon has extended its return policy until January 31, 2025 so that you’ll have ample time for holiday gift returns or exchanges. Microsoft Power Consoles As you probably know, both Microsoft consoles are powered by a custom AMD Zen 2 processor with eight cores clocked at 3.8 GHz and an AMD RDNA 2 GPU that delivers up to 12 teraflops of graphics power. This hardware enables true 4K gaming at frame rates of up to 120 FPS and provide a visually stunning and smooth gaming experience. Both of them also feature a 1TB custom NVME SSD. The key difference lies in their design and features: The Xbox Series X Digital Edition is an all-digital console meaning it lacks a physical disc drive and makes it ideal for players who prefer to download their games directly from the Xbox store . This model retains all the performance capabilities of the standard Series X including support for HDR content and quick resume functionality. On the other hand, the Xbox Series X SSD console includes a physical disc drive which allows gamers to play both digital and physical copies of games. This can be advantageous for those who have an existing library of physical games or prefer to buy used titles. On the long term, it will be cheaper if you’re willing to sell your games. In terms of connectivity, both consoles come equipped with three USB 3.1 ports, an HDMI 2.1 port and support for Ethernet connections for robust online gaming capabilities. They also feature Dolby Atmos support for immersive sound experiences and can connect wirelessly via Wi-Fi 6. When considering which console to purchase, you should weigh their preferences for physical versus digital media: If you primarily buy games digitally or subscribe to services like Xbox Game Pass, the Xbox Series X Digital Edition might be the better choice due to its lower price point and sleek design. See Xbox Series X Digital Edition at Amazon See Xbox Series X Disc Drive Edition at AmazonAP Trending SummaryBrief at 3:59 p.m. EST
PHOTO: Ex-Obama Staffers Selling 'Antifa' Baby Onesies Online
The latest exhibit at the Pop Cult Museum at PD's Hot Shop in Qualicum Beach follows skateboarding through the decades, from early homemade boards in the 1930s right to the present day. traces the evolution of skate culture, as well as the boards themselves — and how new technology influences the activity and vice versa. While the first commercial boards began to appear in stores in the late 1950s, children had already been making their own skateboards for decades. “A kid, usually the boy in the family, would get into some trouble because he would essentially steal the sister’s roller skates, or take his own roller skates,” said owner Peter Ducommun, better known as PD. “What you would do is disassemble the roller skate and reassemble some of the components onto a wooden piece.” Skateboarding evolved by mimicking surfing and was referred to as "sidewalk surfing" for a time, but by the mid-60s it had begun to step out of the shadow of surfing, with Patti McGee appearing on the cover of magazine in 1965 (the exhibit includes a copy). For a lot of children, a skateboard or bicycle offers that first taste of freedom — being able to venture further from home without mom and dad. But with that freedom also came derision from the public — people angry at skateboarders for riding on the sidewalk or trespassing and skating up and down the sloped walls of an empty pool. “In the early days we were told it was wrong and we were bad,” said Ducommun, who began skateboarding in the early 1970s. “When you’re trying to tell somebody, and particularly a young person, that they’re doing something bad and they know they’re not, well that just makes you do it twice as much.” Wider skateboards found popularity in the 70s to provide more stability as skaters became more interested in riding up and down the sides empty pools. “We knew that a swimming pool would be like riding a wave because you’re going up the wall and coming down," Ducommun said. "That was the inspiration for what would become half pipes and then skate park bowls and all of that.” Ducommun's very first board from 1976 is part of the exhibit and can be spotted by a yin yang decal — this was the logo for Great North Country Skateboards, before the name change to Skull Skates, Canada's oldest skateboard company. Humour, irreverence and mockery all became a big part of skater culture, Ducommun said, and one way that was expressed was through skateboard decals. “Skateboarders, we like to mock,” he added. “Happy faces and bright colours, but it was all kind of mockery.” One piece in the exhibit takes aim at the idea of skateboarders competing for awards, including the recent inclusion into the Summer Olympics. Ducommun mounted the body of a decapitated doll onto a football trophy, with a skateboard wheel in place of a head. “It’s more like an art form or a lifestyle,” he said. Skateboarding continues to change and evolve as new generations of skaters are introduced to it. “Every time you think it can’t get any crazier, as far as tricks and techniques and styles of riding, it does," Ducommun said. "But the reason it does is that people are not starting from zero, they’re starting from that whole thing that’s been built.” With work set to begin soon on a new skatepark in Qualicum Beach, Ducommun is optimistic the activity will continue to grow and even attract people to visit the town and check out the new facility. “There’s a whole group of people ready to just come up and really embrace it.” will be at the Pop Cult Museum until March. PD's Hot Shop is located at 164 Second Ave.
NEW YORK , Dec. 12, 2024 /PRNewswire/ -- Report with the AI impact on market trends - The global data center colocation and managed hosting services market size is estimated to grow by USD 236.9 billion from 2024 to 2028, according to Technavio. The market is estimated to grow at a CAGR of 16.82% during the forecast period. The report provides a comprehensive forecast of key segments below- Segmentation Overview 1.1 BFSI 1.2 Healthcare 1.3 E-commerce 1.4 Telecommunication 1.5 Others 2.1 Wholesale 2.2 Retail 3.1 North America 3.2 Europe 3.3 APAC 3.4 Middle East and Africa 3.5 South America Get a glance at the market contribution of rest of the segments - Download a FREE Sample Report in minutes! 1.1 Fastest growing segment: The banking and financial services sector (BFSI) is experiencing significant growth in m-commerce and e-commerce activities in North America , Europe , and developing economies like India and China in APAC. Financial data, including customer financials, account information, cardholder data, and transaction and personal information, is highly regulated by regulatory bodies such as the EU's General Data Protection Regulation (GDPR). BFSI companies, including Goldman Sachs, JPMorgan Chase and Co., and Morgan Stanley, require optimal uptime, security, connectivity, and data integrity for sharing information across networks. Traditional data center ownership poses high operating costs for global BFSI companies, leading them to outsource colocation space from vendors or lease servers from managed hosting service providers. This shift towards outsourcing is expected to drive the growth of the BFSI segment of the data center colocation and managed hosting services market during the forecast period. Analyst Review The Data Center Colocation and Managed Hosting Services market is experiencing significant growth due to the increasing demand for cybersecurity, data management, and remote work solutions. With the rise of artificial intelligence, automation, IoT devices, and hybrid work models, businesses require secure and efficient data center solutions to manage their digital transformation. IT security professionals are prioritizing data security, endpoint security, and network monitoring to protect sensitive information. Differentiating customer experiences and building strong client relationships are crucial for gaining a competitive edge. Deployment models, operational efficiency, and regulatory compliance, such as HIPAA in healthcare and pharmaceuticals, are also key considerations. Enterprises are turning to colocation and managed hosting services to meet their unique needs, drive innovation, and stay ahead of the competition. Market Overview In the digital age, businesses increasingly rely on Data Center Colocation and Managed Hosting Services to manage their IT infrastructure. These services offer operational efficiency, overhead cost savings, and access to advanced technologies such as Cloud computing, Artificial Intelligence, and Internet of Things (IoT) devices. With the shift to remote work solutions and hybrid work models, data security and cybersecurity have become paramount. IT security professionals are tasked with safeguarding against cyber threats, data leakage, malware, and attack surfaces. The market ecosystem includes IT & telecom, manufacturing, retail & consumer goods, healthcare & life sciences, energy & utilities, media & entertainment, and various verticals. Industry expansion brings new opportunities but also pricing pressures, requiring differentiation through superior customer experiences and client relationships. Deployment models range from on-premises infrastructure to DCaaS, with IT executives leveraging these services to gain a competitive edge. In the Metaverse concept, data centers play a crucial role in supporting digital services, online customer experiences, e-commerce, and online retail. Companies like Rackspace Technology and Google Cloud are leading the charge, offering managed hosting services tailored to various industries, from healthcare and pharmaceuticals to enterprises. The retail industry, in particular, benefits from data management, enabling transaction history analysis, cashierless checkout, and personalized marketing through social media and mobile shopping apps. However, the increasing use of these services also presents challenges. Ensuring HIPAA compliance in healthcare and pharmaceuticals, addressing cybersecurity concerns, and maintaining availability and business continuity through service-level agreements are critical. As the market evolves, providers must stay ahead of the curve, offering advanced security features like cyber hardening and endpoint security, as well as network monitoring and automation to meet the demands of distributed teams. To understand more about this market- Download a FREE Sample Report in minutes! Key Topics Covered: About Technavio Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios. Contacts Technavio Research Jesse Maida Media & Marketing Executive US: +1 844 364 1100 UK: +44 203 893 3200 Email: [email protected] Website: www.technavio.com/ SOURCE Technavio
The Kimball High girls basketball team is sizzling hot at the minute. The Jaguars are on a five-game win streak to start their winter campaign with their most recent win a 59-25 beat down of Chavez in Stockton Tuesday night. The Jaguars were no match for the Titans on their second half of a back-to-back with junior Emma Coronado leading the way with 12 points and six rebounds. Freshman Matalie Floyd impressed with 9 points, eight boards, and a whopping 14 blocks. Junior Anaiya Garcia facilitated well with eight assists and senior Emaan Khaliqi added seven points for the offense. The night prior, the Jags’ offense was also undeniable on the short trip to Lathrop where Kimball won 63-31. Coronado erupted for 26 points to lead all scorers. She went 11-22 from the field and canned three triples on the night. Freshman Sienna Arendt added eight points. Floyd chipped in with six points, 12 boards, and 10 blocks. Garcia had five assists. Millennium 43, Vanguard 15 The Falcons also played their second game in as many nights Tuesday night when they took out Vanguard College Prep by 28 points. Freshman Gianna Negrete led Millennium in scoring with 15. Junior Sarah Digiallonardo added 13 points. On Monday night, the Falcons overpowered Bradshaw Christian 50-26 behind 22 points from Digiallonardo. Negrete added 12. Senior Eileen Flores chipped in with 10 points. The two victories propelled the Falcons to a 5-2 overall record. Millennium will play their third game in as many days when they travel to Stockton Christian Thursday night. Contact Arion Armeniakos at aarmeniakos@tracypress.com , or call 209-830-4229.
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