Cooper Rush passed for two touchdowns, Dallas returned two kicks for scores and the visiting Cowboys held off the Washington Commanders in a wild fourth quarter for a 34-26 win. Dallas led 10-9 after three quarters. With Washington trailing 27-26, Jayden Daniels hit Terry McLaurin for an 86-yard touchdown pass with 21 seconds left, but Austin Seibert missed his second extra point of the game. Juanyeh Thomas of the Cowboys then returned the onside kick 43 yards for a touchdown. Rush completed 24 of 32 passes for 247 yards for Dallas (4-7), which snapped a five-game losing streak. Rico Dowdle ran 19 times for 86 yards and CeeDee Lamb had 10 catches for 67 yards. Jayden Daniels was 25-of-38 passing for 274 yards, two touchdowns and two interceptions for reeling Washington (7-5), which has lost three straight. He ran for 74 yards and one score. McLaurin had five catches for 102 yards. Trailing 20-9 late in the fourth quarter, Daniels drove Washington 69 yards in nine plays and hit Zach Ertz for a 4-yard touchdown. Daniels ran for two points and Washington trailed 20-17 with 3:02 remaining. KaVontae Turpin muffed the ensuing kickoff, picked it up at the one, and raced 99 yards for a touchdown to make it 27-17. Austin Seibert's 51-yard field goal pulled the Commanders within 27-20 with 1:40 left, With the score tied 3-3, Washington took the second half kick and went 60 yards in 10 plays. On third-and-three from the Dallas 17, Daniels faked a handoff, ran left and scored his first rushing touchdown since Week 4. Seibert missed the point after and Washington led 9-3. Dallas answered with an 80-yard drive. A 23-yard pass interference penalty gave the Cowboys a first-and-goal at the 4. Two plays later Rush found Jalen Tolbert in the end zone and the extra point made it 10-9. Brandon Aubrey's 48-yard field goal made it 13-9 with 8:11 remaining in the game. On the next play, Daniels hit John Bates for 14 yards, but Donovan Wilson forced a fumble and Dallas recovered at the Washington 44. Five plays later, Rush found Luke Schoonmaker down the middle for a 22-yard touchdown and Dallas led 20-9 with 5:16 left. The first quarter was all about field goals. Aubrey's field goal attempt was blocked on the opening drive and Michael Davis returned it to the Dallas 40. Washington later settled for Seibert's 41-yard field goal. On the next Dallas drive, Aubrey hit the right upright from 42 yards out, and then Seibert missed from 51 yards. With 14 seconds left in the half, Rush found Jalen Brooks for a 41-yard gain to the Washington 28. On the next play Aubrey connected from 46 yards to tie it. --Field Level MediaWhile they might not be producing a wealth of offense, the Kings have been penurious defensively of late and will take that stinginess northward to San Jose for a matchup with the Sharks on Monday. They surrendered just one goal in each contest during their three-game homestand and no five-on-five markers, most recently restraining the Seattle Kraken in a 2-1 win. Seattle had won five of its past six games, whereas San Jose has dropped six of its past seven. David Rittich, who has made three straight starts since Darcy Kuemper sustained his second lower-body injury of the young campaign during a loss in Colorado, has posted six one-goal-allowed efforts in 11 starts, with five of those performances being wins. The sixth was a 1-0 loss to Buffalo on Wednesday, which coach Jim Hiller said he thought gave the Kings additional motivation against Seattle. “I think we played really well the last couple (games), but (against Seattle) we did something extra with obviously scoring goals, which gives us the opportunity to win,” Rittich said. Individual Kings had plenty of motivation, too. Their second-period power-play goal represented the first point in seven games for Kevin Fiala and the first goal in six for Quinton Byfield, as well as the first power-play goal by any King against a goalie in the past seven games. Byfield’s scoring woes have been longer-standing. Byfield said he’d like to better integrate the physical side of his game into his offense, but for now was pleased to have broken through, and with an authoritative snipe, no less. “It’s obviously tough. You do think about it, but you’ve got to stay positive. I’ve learned from the best, Kopi, all the time he’s just even keel,” said Byfield, referring to Kings captain Anze Kopitar. “I try to be happy, that’s just my personality. I don’t want to bring anyone else down around me. It always comes eventually, and hopefully it’ll pile up.” Saturday also marked Byfield’s 200th career game, and he joined seven other players who have crossed that threshold from his 2020 draft class. He accumulated those games across parts of five seasons, some of which saw him bounce between the NHL and AHL while he also battled serious injuries and illnesses. “It was tough. There was a lot of adversity and a lot of challenging moments in those 200 games,” Byfield said. There might not be a ton of adversity ahead for the Kings in San Jose, given that the Sharks remain in a half-decade-long rebuild still waiting to take off and have been mired in a funk lately, too. But the Kings managed to lose to them and another bottom-dweller, the Chicago Blackhawks, in the same week, and their 4-2 loss in San Jose on Oct. 29 featured an 0-for-6 display on the power play. Five days earlier, the Kings had beaten the Sharks, 3-2, in L.A. The No. 1 overall pick in the 2024 draft, Macklin Celebrini, did not compete in either meeting for San Jose. He’ll be healthy Monday and has scored seven points in 10 games, production spearheaded by three multi-point outings. Veteran Mikael Granlund’s 24 points are eight more than any other Shark has contributed this season.
The Las Vegas Raiders had the element of surprise on their side on Sunday. During the second quarter of their divisional game against the Denver Broncos , the Raiders decided to bust out an extremely gutsy fake punt. Facing a 4th-and-4 from their own 36-yard line, Raiders punter AJ Cole faked the kick and then threw it downfield to receiver Tre Tucker. The gimmick worked as the Broncos were caught completely off-guard, enabling Tucker to get all the way down to the Denver 30-yard line. Take a look at the video of the play. RAIDERS FAKE PUNT pic.twitter.com/sJ2KQOyLfw — SleeperNFL (@SleeperNFL) November 24, 2024 The Raiders were able to get a field goal out of the continued drive and took a 13-9 lead into the half as a result. That was a really bold call there by Las Vegas, especially from inside their own territory and while going up against an elite defense in the Broncos. While they are just 2-8 this year, the Raiders still have plenty in their bag ( apparently including fakes straight out of Dan Campbell’s playbook ). This article first appeared on Larry Brown Sports and was syndicated with permission.
MEXICO CITY--(BUSINESS WIRE)--Nov 25, 2024-- BBB Foods Inc. (“Tiendas 3B” or the “Company”) (NYSE: TBBB) , a leading grocery hard discounter in Mexico, announced today its consolidated results for the third quarter of 2024 (“3Q24”) and the nine months ended September 30, 2024 (“9M24”). The figures presented in this release are expressed in nominal Mexican Pesos (Ps.) and are prepared in accordance with International Financial Reporting Standards (“IFRS”), unless otherwise stated. HIGHLIGHTS THIRD QUARTER 2024 MESSAGE FROM THE CHAIRMAN AND CEO Dear Investors, Tiendas 3B has delivered another strong quarter. Our Same Store Sales grew by 11.6% in the third quarter of 2024 versus the same period last year, significantly outpacing the growth in the overall Mexican hard discount grocery retail segment as reported by ANTAD (Asociación Nacional de Tiendas de Autoservicio y Departamentales). This performance highlights our continued success in providing customers what they want – high quality products at low prices in convenient locations, During the third quarter of 2024, we opened 131 net new stores, for a total of 346 new stores year-to-date, bringing our total store count to 2,634. Our expansion strategy continues to yield strong results, with new stores performing well across the board. Overall, our revenues grew nearly 30% compared to the same period last year. Our EBITDA increased by 54%, with the higher margin driven by the dilution of operational expenses over a larger sales base. As we move forward, we remain focused on our core principles: delivering value through a compelling offering, disciplined execution, and rapid store expansion. We are confident that these pillars will continue to drive sustainable growth and create value for our stakeholders. Thank you for your continued trust and support. K. Anthony Hatoum, Chairman and Chief Executive Officer FINANCIAL RESULTS 3Q24 CONSOLIDATED RESULTS (In Ps. Millions, except percentages) 3Q24 As % of Revenue 3Q23 As % of Revenue Growth (%) Variation (bps) Total Revenue Ps. 14,834 100.0 % Ps. 11,425 100.0 % 29.8 % n.m. Gross Profit Ps. 2,344 15.8 % Ps. 1,806 15.8 % 29.7 % -1 bps Sales Expenses (Ps. 1,499) 10.1 % (Ps. 1,219) 10.7 % 23.0 % -56 bps Administrative Expenses (Ps. 494) 3.3 % (Ps. 374) 3.3 % 32.1 % 6 bps Other Income (Expense) – Net Ps. 2 0.0 % (Ps. 3) 0.0 % (161.8 %) 4 bps EBITDA Ps. 688 4.6 % Ps. 447 3.9 % 54.0 % 73 bps Please see the explanation at the end of this release on how EBITDA, a non-IFRS financial measure, is calculated, and for other relevant definitions. TOTAL REVENUE Total revenue for 3Q24 was Ps. 14,834 million, an increase of 29.8% compared to 3Q23. This increase was driven by higher revenues from stores operating for more than one year and revenues from net new stores opened in the last twelve months. GROSS PROFIT AND GROSS PROFIT MARGIN Gross profit in 3Q24 reached Ps. 2,344 million, an increase of 29.7% compared to 3Q23. This increase was driven by higher sales growth. Gross margin was stable over the year, as we passed the benefits of our increased size on to our customers. EXPENSES Sales expenses refer mainly to the expenses of operating our stores, such as the wages of store employees and energy. In 3Q24, sales expenses reached Ps. 1,499 million, a 23.0% increase compared to 3Q23. This rise in sales expenses was driven by the additional new stores opened in the last twelve months, the headcount to operate them, and wage inflation affecting labor costs accumulated during the last twelve months. Despite higher expenses, the Company was able to reduce sales expenses as a percentage of total revenue as a result of operational leverage and increased efficiencies. Sales expenses decreased from 10.7% of total revenue in 3Q23 to 10.1% in 3Q24, a decline of 56 bps. Administrative expenses refer to expenses not related to operating our stores, such as headquarters and regional office expenses. In 3Q24, administrative expenses were Ps. 494 million, a 32.1% increase compared to 3Q23. This was primarily due to: (i) higher personnel expenses driven by our expansion into three new regions (ii) the strengthening of our central HQ teams in IT, purchasing, real estate, human resources, and finance (iii) public company-related expenses, and (iv) recognition of share-based payment expenses. As a percentage of revenue, administrative expenses remained flat in 3Q24 compared to 3Q23. Other income (expense) - net, which includes revenues from asset disposals, reimbursement of costs, and insurance proceeds, among others, amounted to income of Ps. 2 million in 3Q24, as compared to an expense of Ps. 3 million in 3Q23. As a percentage of total revenue, other income (expense) – net decreased by 4 bps. EBITDA AND EBITDA MARGIN In 3Q24, EBITDA reached Ps. 688 million, an increase of 54.0% compared to 3Q23. This increase can be attributed to higher sales and lower sales expenses as a percentage of sales. EBITDA margin for 3Q24 increased by 73 bps to 4.6%. Please see the last section of this release on how we calculate EBITDA and EBITDA Margin, which are non-IFRS financial measures. To allow our investors to better assess our performance, we are providing the following information: FINANCIAL COSTS AND NET PROFIT Financial income reached Ps. 48 million, representing an increase of over 100% compared to 3Q23. This growth was primarily driven by the interest generated from the investment of proceeds derived from our IPO, net of cash used to pay off promissory and convertible notes, and the Company’s other cash positions. Financial costs decreased by 3.9% to Ps. 287 million, primarily due to the absence of interest expenses on promissory and convertible notes, which the Company fully paid in the first quarter of 2024 (“1Q24”). However, the decrease was partially offset by higher interest expenses related to lease liabilities, mainly due to the expansion of our store network. Exchange rate fluctuation resulted in a gain of Ps. 210 million in 3Q24, primarily due to the depreciation of the Mexican peso against the U.S. dollar, which positively impacted the value in Mexican pesos of our U.S. dollar cash position from the IPO proceeds. Income tax expense reached Ps. 66 million in 3Q24 compared to Ps. 113 million in 3Q23. As a result, our net profit for 3Q24 was Ps. 258 million, compared to a net loss of Ps. 339 million for 3Q23. BALANCE SHEET AND LIQUIDITY As of September 30, 2024, the Company reported cash and cash equivalents of Ps. 1,269 million, an increase from Ps. 1,220 million as of December 31, 2023, deployed mainly for working capital purposes. In addition, as of September 30, 2024, the Company held Ps. 2,964 million in U.S. dollar-denominated short-term bank deposits. 9M24 CASH FLOW STATEMENT (In Ps. Millions, except percentages) 9M24 9M23 Growth (%) Net cash flows provided by operating activities Ps. 2,378 Ps. 1,943 22.4% Net cash flows used in investing activities (Ps. 4,172) (Ps. 901) n.m. Net cash flows provided by (used in) financing activities Ps. 1,748 (Ps. 1,027) n.m. Net increase (decrease) in cash and cash equivalents (Ps. 46) Ps. 14 n.m. Our business model continues to generate a significant amount of cash from our negative working capital cycle due to our increasing sales and high inventory turnover. This robust cash flow has enabled us to fund internally our growth initiatives, including the expansion of new stores and distribution centers. The information provided below offers a view of our financial activities in the first nine months of 2024: Net cash flows provided by operating activities increased to Ps. 2,378 million in the first nine months of 2024 (“9M24”) from Ps. 1,943 million in the first nine months of 2023 (“9M23”), an increase of 22.4%. Our net working capital continues to be driven by a favorable ratio of Inventory Days to Payable Days. Net cash flows used in investing activities were Ps. 4,172 million for 9M24, compared to Ps. 901 million in 9M23. This increase was primarily due to the allocation IPO proceeds in short-term U.S. dollar-denominated short-term bank deposits, which is reflected as an investment activity. In addition, spending on the purchasing of property, plant, and equipment (PP&E) reached Ps. 1,642 million, reflecting additional store openings compared to 9M23. Net cash flows provided by financing activities were Ps. 1,748 million in 9M24, compared to Ps. 1,027 million used in 9M23. This decrease is mainly attributed to higher lease payments due to the opening of new stores in the last twelve months, as well as, to a lesser extent, payment of other financial debts. KEY OPERATING METRICS 3Q24 3Q23 Variation (%) Number of Stores Opened 131 92 42.4% Number Distribution Centers Opened 0 1 n.m. Same Store Sales Growth (%) (1) 11.6% 15.4% n.m. (1) We measure “Same Store Sales” using revenue from sales of merchandise from stores that were operational for at least the full preceding 12 months for the periods under consideration. When calculating this measure, we exclude stores that were temporarily closed (for one month or more) or permanently closed during the periods in consideration. We measure Same Store Sales growth by comparing the Same Store Sales of stores that were open during the measurement period. In 3Q24, we opened 131 net new stores, reaching a total of 2,634 stores. This represents a significant increase compared to the 92 net new stores opened in 3Q23, which brought the total number of stores to 2,135 stores by the end of that period. During 3Q24, the Company did not open any distribution centers. Same Store Sales grew by 11.6% for 3Q24, compared to 15.4% for 3Q23. We maintain our leadership in Same Store Sales growth in the Mexican hard discount grocery retail market. Non-IFRS Measures and Other Calculations For the convenience of investors, this release presents certain non-IFRS financial measures, which are not calculated in accordance with IFRS (“non-IFRS financial measures”). A non-IFRS financial measure is generally defined as one that purports to measure financial performance but excludes or includes amounts that would not be so excluded or included in the most comparable IFRS financial measure. Non-IFRS financial measures do not have standardized meanings and may not be directly comparable to similarly titled measures reported by other companies. These non-IFRS financial measures are used by our management for decision-making purposes and to assess our financial and operating performance, generate future operating plans and make strategic decisions regarding the allocation of capital. The non-IFRS financial measures presented herein have limitations as analytical tools, and you should not consider them in isolation or as substitutes for analysis of our results of operations presented in accordance with IFRS. Additionally, our calculations of non-IFRS financial measures may be different from the calculations used by other companies, including our competitors, and therefore, our non-IFRS financial measures may not be comparable to those of other companies. We calculate “EBITDA,” a non-IFRS measure, as net profit (loss) for the period, plus income tax expense, financial costs, net, and total depreciation and amortization. We calculate “EBITDA Margin,” a non-IFRS measure, for a period by dividing EBITDA for the corresponding period by total revenue for such period. Same Store Sales: We measure “Same Store Sales” using revenue from sales of merchandise at stores that were operational for at least the full preceding 12 months for the periods under consideration. Stores that were temporarily closed (for one month or more) or permanently closed during the relevant measurement periods are excluded from this metric. Same Store Sales growth is calculated by comparing the Same Store Sales of stores that were opened and remained open throughout the relevant measurement period. Lease Costs: Consistent with lease accounting required under IFRS 16, total depreciation and amortization includes the depreciation expense of right-of-use-asset corresponding to long-term leases, which is a non-cash expense. Such amounts, together with the interest expense on lease liabilities, is a proxy for but not equal to the Company’s actual cash expenditure incurred in connection with its leased properties. Sales per Store : We define our “Sales per Store” as the average of the revenue from sales of merchandise achieved by our stores that were open for the full year in consideration. When calculating this measure, we exclude stores that were temporarily closed (for one month or more) or permanently closed during the period in consideration. This measure assists our management’s understanding of how store performance has evolved across different vintages. Sales per Store also serves as a benchmark to measure the performance of new stores and is useful to set growth and expansion targets. Inventory Days: We calculate “Inventory Days” to be the average of beginning and end of period inventory balance, divided by cost of sales for the period and multiplied by the number of days during the period. Inventory Days measures the average number of days we keep inventory on hand before selling the product. This operating metric allows us to track our inventory management policies and observe how quickly we are able to rotate inventory, which is key to our cash conversion cycle. Payable Days: We calculate “Payable Days” to be the sum of the average of beginning and end of period balance of suppliers and of accounts payable and accrued expenses, divided by cost of sales for the period and multiplied by the number of days during the period. Payable Days measures the average number of days that it takes us to pay suppliers after receiving goods or services. This metric allows us to track the terms of payment policies with suppliers and our ability to finance our operations through agreements with our suppliers. CONFERENCE CALL DETAILS Tiendas 3B will host a call to discuss the third quarter of 2024 results on November 26, 2024, at 11:00 a.m. Eastern Time. A webinar of the call will be accessible at: https://us06web.zoom.us/webinar/register/WN_GqDGFh_BRHmrS0LuPiQzpA . To join via telephone, please dial one of the domestic or international numbers listed below: Mexico United States +52 558 659 6002 +1 312 626 6799 (Chicago) +52 554 161 4288 +1 346 248 7799 (Houston) +52 554 169 6926 +1 646 558 8656 (New York) Other international numbers available: https://us02web.zoom.us/u/knEOJCJkC The webinar ID is 869 0678 1035 An audio replay from the conference call will be available on the Tiendas 3B website https://www.investorstiendas3b.com after the call. FORWARD-LOOKING STATEMENTS This release includes forward-looking statements within the meaning of Section 27A of the U.S. Securities Act of 1933, as amended, and Section 21E of the U.S. Securities Exchange Act of 1934, as amended. We base these forward-looking statements on our current beliefs, expectations and projections about future events and trends affecting our business and our market. Many important factors could cause our actual results to differ substantially from those anticipated in our forward-looking statements. Forward-looking statements are not guarantees of future performance. Forward-looking statements speak only as of the date they are made, and we undertake no obligation to update publicly or to revise any forward-looking statements. New risks and uncertainties emerge from time to time, and it is not possible for us to predict all risks and uncertainties that could have an impact on the forward-looking statements contained in this release. The words “believe,” “may,” “should,” “aim,” “estimate,” “continue,” “anticipate,” “intend,” “will,” “expect” and similar words are intended to identify forward-looking statements. Forward-looking statements include information concerning our possible or assumed future results of operations, business strategies, capital expenditures, financing plans, competitive position, industry environment, potential growth opportunities, the effects of future regulation and the effects of competition. Please refer to our annual report on Form 20-F for the year ended December 31, 2023 filed with the U.S. Securities Exchange Commission (the “SEC”), as well as any subsequent filings made by us with the SEC, each of which is available on the SEC’s website ( www.sec.gov ), for a more extensive discussion of the risks and other factors that may impact any forward-looking statements in this release. Considering these limitations, you should not make any investment decision in reliance on forward-looking statements contained in this release. ABOUT TIENDAS 3B BBB Foods Inc. (“Tiendas 3B”), a proudly Mexican company, is a pioneer and leader of the grocery hard discount model in Mexico and one of the fastest growing retailers in the country as measured by its sales and store growth rates. The 3B name, which references " Bueno, Bonito y Barato " - a Mexican saying which translates to "Good, Nice and Affordable" - summarizes Tiendas 3B’s mission of offering irresistible value to budget savvy consumers through great quality products at bargain prices. By delivering value to the Mexican consumer, we believe we contribute to the economic well-being of Mexican families. In a landmark achievement, Tiendas 3B was listed on the New York Stock Exchange in February 2024 under the ticker symbol “TBBB.” For more information, please visit: https://www.investorstiendas3b.com/ . FINANCIAL STATEMENTS Consolidated Income Statement (Unaudited) For the three months ended September 30, 2024 and September 30, 2023 (In thousands of Mexican pesos) For the Three Months Ended September 30, 2024 2023 % Change Revenue From Sales of Merchandise Ps. 14,807,698 Ps. 11,399,566 29.9% Sales of Recyclables 26,108 25,609 1.9% Total Revenue 14,833,806 11,425,175 29.8% Cost of Sales (12,490,108) (9,618,847) 29.9% Gross Profit Ps. 2,343,698 Ps. 1,806,328 29.7% Gross Profit Margin 15.8% 15.8% Sales Expenses (1,498,500) (1,218,570) 23.0% Administrative Expenses (494,399) (374,347) 32.1% Other Income (Expense) - Net 1,770 (2,865) n.m. Operating Profit Ps. 352,569 Ps. 210,546 67.5% Operating Profit Margin 2.4% 1.8% Financial Income 47,642 7,388 544.9% Financial Costs (286,930) (298,527) (3.9%) Exchange Rate Fluctuation 210,191 (145,667) n.m. Financial Cost - Net (29,097) (436,806) (93.3%) Profit (Loss) Before Income Tax 323,472 (226,260) n.m. Income Tax Expense (65,872) (112,791) (41.6%) Net Profit (Loss) for the Period Ps. 257,600 (Ps. 339,051) n.m. Net Profit Margin 1.7% (3.0%) Basic Earnings (Loss) per Share 2.30 (28.25) Diluted Earnings (Loss) per Share 1.89 (28.25) Weighted Average Common Shares Outstanding: Basic 112,200,752 12,000,000 Diluted 136,283,972 12,000,000 EBITDA Reconciliation Net Profit (Loss) for the Period Ps. 257,600 (Ps. 339,051) n.m. Net Profit Margin 1.7% (3.0%) Income Tax Expense 65,872 112,791 (41.6%) Financial Cost - Net (29,097) (436,806) (93.3%) D&A 335,385 236,225 42.0% EBITDA Ps. 687,954 Ps. 446,771 54.0% EBITDA Margin 4.6% 3.9% Consolidated Income Statement (Unaudited) For the nine months ended September 30, 2024 and September 30, 2023 (In thousands of Mexican pesos) For the Nine Months Ended September 30, 2024 2023 % Change Revenue From Sales of Merchandise Ps. 41,014,985 Ps. 31,694,573 29.4% Sales of Recyclables 77,416 68,282 13.4% Total Revenue 41,092,401 31,762,855 29.4% Cost of Sales (34,414,213) (26,733,603) 28.7% Gross Profit Ps. 6,678,188 Ps. 5,029,252 32.8% Gross Profit Margin 16.3% 15.8% Sales Expenses (4,208,458) (3,431,030) 22.7% Administrative Expenses (1,426,551) (1,033,144) 38.1% Other Income (Expense) - Net 7,066 692 921.1% Operating Profit Ps. 1,050,245 Ps. 565,770 85.6% Operating Profit Margin 2.6% 1.8% Financial Income 109,501 20,510 433.9% Financial Costs (924,055) (1,007,868) (8.3%) Exchange Rate Fluctuation 385,335 403,922 (4.6%) Financial Cost - Net (429,219) (583,436) (26.4%) Profit (Loss) Before Income Tax 621,026 (17,666) n.m. Income Tax Expense (263,033) (191,503) 37.4% Net Profit (Loss) for the Period Ps. 357,993 (Ps. 209,169) n.m. Net Profit Margin 0.9% (0.7%) Basic Earnings (Loss) per Share 3.32 (17.43) Diluted Earnings (Loss) per Share 2.72 (17.43) Weighted Average Common Shares Outstanding: Basic 107,798,668 12,000,000 Diluted 131,924,394 12,000,000 EBITDA Reconciliation Net Profit (Loss) for the Period Ps. 357,993 (Ps. 209,169) n.m. Net Profit Margin 0.9% (0.7%) Income Tax Expense 263,033 191,503 37.4% Financial Cost - Net (429,219) (583,436) (26.4%) D&A 952,086 758,046 25.6% EBITDA Ps. 2,002,331 Ps. 1,323,816 51.3% EBITDA Margin 4.9% 4.2% Consolidated Balance Sheet (Unaudited) As of September 30, 2024 and December 31, 2023 (In thousands of Mexican pesos) As of September 30, As of December 31, 2024 2023 Current assets: Cash and cash equivalents Ps. 1,268,902 Ps. 1,220,471 Short-term bank deposits 2,963,511 - Creditors 3,669 - Derivative financial instruments 7,287 - Sundry debtors 47,523 11,020 VAT receivable 1,061,873 731,186 Advanced payments 134,846 72,998 Inventories 2,524,631 2,357,485 Total Current Assets Ps. 8,012,242 Ps. 4,393,160 Non-Current Assets: Guarantee deposits 37,949 33,174 Property, furniture, equipment, and lease-hold improvements - Net 5,849,141 4,606,300 Right-of-use assets – Net 6,487,974 5,520,596 Intangible assets – Net 6,794 6,771 Deferred income tax 494,588 403,801 Total Non-Current Assets Ps. 12,876,446 Ps. 10,570,642 Total Assets Ps. 20,888,688 Ps. 14,963,802 Current liabilities: Suppliers Ps. 7,855,059 Ps. 7,126,089 Accounts payable and accrued expenses 552,826 322,959 Income tax payable 43,350 2,326 Bonus payable to related parties - 78,430 Short-term debt 915,377 744,137 Lease liabilities 620,019 537,515 Employees’ statutory profit sharing payable 164,062 140,485 Total Current Liabilities Ps. 10,150,693 Ps. 8,951,941 Non-Current Liabilities: Debt with related parties - 4,340,452 Long-term debt 88,273 577,318 Lease liabilities 6,690,227 5,706,707 Employee benefits 28,231 22,232 Total Non-Current Liabilities Ps. 6,806,731 Ps. 10,646,709 Total Liabilities Ps. 16,957,424 Ps. 19,598,650 Stockholders’ equity: Capital stock 8,283,347 471,282 Reserve for share-based payments 1,247,755 851,701 Cumulative losses (5,599,838) (5,957,831) Total Stockholders’ Equity Ps. 3,931,264 Ps. (4,634,848) Total Liabilities and Stockholders’ Equity Ps. 20,888,688 Ps. 14,963,802 Cash Flow Statement (Unaudited) For the three months ended September 30, 2024 and September 30, 2023 (In thousands of Mexican pesos) For the Three Months Ended September 30, 2024 2023 Profit (loss) before income tax Ps. 323,472 (Ps. 226,260) Adjustments for: Depreciation of property, furniture, equipment, and lease-hold improvements 174,009 109,209 Depreciation of right-of-use assets 160,766 126,344 Amortization of intangible assets 610 672 Employee benefits 2,000 (1,936) Interest payable on Promissory Notes and Convertible Notes - 148,916 Interest expense on lease liabilities 263,415 146,859 Interest on debt and bonus payable and amortization of issuance costs 7,108 9,541 Other financial income (44,223) (7,388) Gain on fair value of derivative financial instrument (3,419) - Interests and commissions from credit lines 16,407 - Gain on termination of lease agreements (387) - Exchange fluctuation (210,191) 80,559 Share-based payment expense 126,468 112,268 Increase in inventories (150,579) (165,326) Increase in other current assets and guarantee deposits (154,747) (83,485) Increase in suppliers (including supplier finance arrangements) 572,652 774,672 Increase (decrease) in other current liabilities 113,145 (55,779) Increase (decrease) on bonus payable to related parties - 55,246 Income taxes paid (97,536) (86,113) Net cash flows provided by operating activities Ps. 1,098,970 Ps. 937,999 Purchase of property, furniture, equipment, and lease-hold improvements (651,199) (229,143) Sale of property and equipment (509) 1,467 Additions to intangible assets (563) - Short-term bank deposits 152,970 - Interest earned on short-term investments 40,683 28,923 Net cash flows used in investing activities (Ps. 458,618) (Ps. 198,753) Payments made on reverse factoring transactions-net of commissions received (818,588) (446,317) Finance obtained through supplier finance arrangements 869,064 399,429 Proceeds (payment) from Santander and HSBC credit line (85,086) 339,866 Payment of debt (30,328) (420,366) Interest payment on debt and reverse factoring commissions (23,515) (8,455) Lease payments (396,839) (301,386) Payment of Principal amount of Promissory Notes - - Payment of accrued Interests of Promissory Notes - - Proceeds from initial public offering, net of underwriting fees - - Initial public offering costs - - Net cash flows provided by (used in) financing activities (Ps. 485,292) (Ps. 437,229) Net increase (decrease) in cash and cash equivalents 155,060 302,017 Effect of foreign exchange movements on cash balances (131,395) 34,626 Cash and cash equivalents at beginning of period 1,245,237 664,440 Cash and cash equivalent at end of period Ps. 1,268,902 Ps. 1,001,083 Cash Flow Statement (Unaudited) For the nine months ended September 30, 2024 and September 30, 2023 (In thousands of Mexican pesos) For the Nine Months Ended September 30, 2024 2023 Profit (loss) before income tax Ps. 621,026 (Ps.17,666) Adjustments for: Depreciation of property, furniture, equipment, and lease-hold improvements 468,985 334,184 Depreciation of right-of-use assets 481,244 421,872 Amortization of intangible assets 1,857 1,990 Employee benefits 5,999 - Interest payable on Promissory Notes and Convertible Notes 82,588 459,621 Interest expense on lease liabilities 757,618 526,566 Interest on debt and bonus payable and amortization of issuance costs 29,471 21,676 Other financial income (102,214) (20,510) Gain on fair value of derivative financial instrument (7,287) - Interests and commissions from credit lines 54,378 - Gain on termination of lease agreements (387) - Exchange fluctuation (385,335) (469,030) Share-based payment expense 396,054 302,438 Increase in inventories (167,146) (259,525) Increase in other current assets and guarantee deposits (446,657) (150,082) Increase in suppliers (including supplier finance arrangements) 728,969 1,013,497 Increase (decrease) in other current liabilities 248,169 68,147 Increase (decrease) on bonus payable to related parties (79,351) 11,412 Income taxes paid (309,773) (301,751) Net cash flows provided by operating activities Ps. 2,378,208 Ps. 1,942,839 Purchase of property, furniture, equipment, and lease-hold improvements (1,642,397) (940,202) Sale of property and equipment 1,856 2,454 Additions to intangible assets (1,880) (799) Short-term bank deposits (2,621,393) - Interest earned on short-term investments 91,966 37,354 Net cash flows used in investing activities (Ps. 4,171,848) (Ps. 901,193) Payments made on reverse factoring transactions-net of commissions received (2,266,340) (1,320,996) Finance obtained through supplier finance arrangements 2,385,967 1,334,506 Proceeds (payment) from Santander and HSBC credit line 58,806 300,314 Payment of debt (107,557) (463,437) Interest payment on debt and reverse factoring commissions (76,691) (18,077) Lease payments (1,139,828) (859,684) Payment of Principal amount of Promissory Notes (1,969,602) - Payment of accrued Interests of Promissory Notes (2,955,495) - Proceeds from initial public offering, net of underwriting fees 7,841,837 - Initial public offering costs (23,269) - Net cash flows provided by (used in) financing activities Ps. 1,747,828 (Ps. 1,027,374) Net increase (decrease) in cash and cash equivalents (45,812) 14,272 Effect of foreign exchange movements on cash balances 94,243 1,835 Cash and cash equivalents at beginning of period 1,220,471 984,976 Cash and cash equivalent at end of period Ps. 1,268,902 Ps. 1,001,083 View source version on businesswire.com : https://www.businesswire.com/news/home/20241125235028/en/ CONTACT: INVESTOR RELATIONS CONTACTAndrés Villasis ir@tiendas3b.com KEYWORD: MEXICO UNITED STATES CENTRAL AMERICA NORTH AMERICA FLORIDA INDUSTRY KEYWORD: FAMILY RETAIL OTHER CONSUMER CONSUMER OTHER RETAIL SUPERMARKET FOOD/BEVERAGE SOURCE: Tiendas 3B Copyright Business Wire 2024. PUB: 11/25/2024 04:13 PM/DISC: 11/25/2024 04:11 PM http://www.businesswire.com/news/home/20241125235028/enAustin and Pausha are back Thanksgiving week and share which food they most look forward to at the table (1:33). Then, they jump right into another 76ers convo, where they break down past sidekicks Joel Embiid has had over the years (8:14). Then, they stress why Trae Young needs to leave the Atlanta Hawks ASAP (27:42) and discuss their favorite shot celebrations (32:08) before Austin shares his experience watching his father, Doc Rivers, coach over the years (41:47). Later, they touch on Donte DiVincenzo trade rumors and discuss the Timberwolves’ need for identity (56:49). Hosts: Austin Rivers and Pausha Haghighi Producer: Erika Cervantes Additional Production Support: Ben Cruz Social: Keith Fujimoto Subscribe: Spotify The NBA, RankedDomo ( NASDAQ:DOMO – Get Free Report ) and Xiao-I ( NASDAQ:AIXI – Get Free Report ) are both small-cap computer and technology companies, but which is the better business? We will contrast the two companies based on the strength of their profitability, valuation, analyst recommendations, risk, earnings, dividends and institutional ownership. Profitability This table compares Domo and Xiao-I’s net margins, return on equity and return on assets. Risk & Volatility Domo has a beta of 2.43, meaning that its share price is 143% more volatile than the S&P 500. Comparatively, Xiao-I has a beta of 3.38, meaning that its share price is 238% more volatile than the S&P 500. Insider and Institutional Ownership Valuation and Earnings This table compares Domo and Xiao-I”s top-line revenue, earnings per share (EPS) and valuation. Xiao-I has lower revenue, but higher earnings than Domo. Analyst Recommendations This is a breakdown of recent ratings and recommmendations for Domo and Xiao-I, as provided by MarketBeat. Domo currently has a consensus target price of $9.60, suggesting a potential upside of 1.59%. Given Domo’s stronger consensus rating and higher probable upside, analysts plainly believe Domo is more favorable than Xiao-I. Summary Domo beats Xiao-I on 7 of the 11 factors compared between the two stocks. About Domo ( Get Free Report ) Domo, Inc., together with its subsidiaries, operates a cloud-based business intelligence platform in North America, Western Europe, Canada, Australia, and Japan. Its platform digitally connects from the chief executive officer to the frontline employee with the various people, data, and systems in an organization, as well as giving them access to real-time data and insights, and allowing them to manage business via various browsers and visualization engines accessible across laptops, TV screens, monitors, tablets, and smartphones. The company was formerly known as Domo Technologies, Inc. and changed its name to Domo, Inc. in December 2011. Domo, Inc. was incorporated in 2010 and is headquartered in American Fork, Utah. About Xiao-I ( Get Free Report ) Xiao-I Corporation, through its subsidiary, Shanghai Xiao-i Robot Technology Co., Ltd., provides software services in the People’s Republic of China. It offers conversational AI platform that uses deep learning, data enhancement, active learning technologies for dialog management, context processing mechanisms, and driven by a learning system; knowledge fusion platform which integrates Q&A, documents, multimedia, information forms, business processes, knowledge graphs, and multimodal; intelligence voice platform to enhance intelligent speech solutions, realizing the macro processes of intelligent IVP, intelligent outbound calls, speech analysis, agent assistance, and human-computer interaction; and hyperautomation platform that integrates technologies, such as OCR, NLP, and visualized data mining and analysis that enables users to realize business and process automation. The company also provides data intelligence platform which integrates data assets, manages the entire life cycle of data that realizes the entire cycles of data integration, processing, transformation, analysis, and mining; cloud platform that integrates NLP, speech recognition, image recognition, and data analysis capabilities; and intelligent construction support platform which offers parsing, reconstruction, visualization, and multi-dimensional analysis of construction drawings. In addition, it offers vision analysis platform that uses various computer vision-related technologies to apply OCR, detection, video, and image analysis; intelligent hardware support platform which provides the framework of signal collection, processing, analysis, prediction, and others; and metaverse platform that develops virtual digital human. It serves its products to large and medium-sized contact centers, financial institutions, communication operators, government services, industrial manufacturing, medical care, and others. The company was incorporated in 2018 and is based in Shanghai, China. Receive News & Ratings for Domo Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Domo and related companies with MarketBeat.com's FREE daily email newsletter .
Justin Baldoni Sued By Former Publicist After Blake Lively Complaint
DocMorris AG ( OTCMKTS:ZRSEF – Get Free Report ) shares rose 12.2% during trading on Friday . The stock traded as high as $23.86 and last traded at $23.86. Approximately 1 shares were traded during mid-day trading, a decline of 100% from the average daily volume of 600 shares. The stock had previously closed at $21.26. DocMorris Stock Up 12.2 % The stock has a 50 day moving average of $40.51 and a two-hundred day moving average of $58.00. About DocMorris ( Get Free Report ) DocMorris AG operates e-commerce pharmacies and a wholesale business for medical and pharmaceutical products in Switzerland and internationally. The company offers prescription and over-the-counter medicines, consumer health products, beauty and personal care products, nutritional supplements, painkillers, and first aid products. Featured Articles Receive News & Ratings for DocMorris Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for DocMorris and related companies with MarketBeat.com's FREE daily email newsletter .
Japanese companies are ramping up policies and protections against a rise in rude and abusive customer behaviour, with Narita International Airport becoming the first in the country to adopt a strict zero-tolerance policy. The new rule, which includes measures against verbal abuse, threats, and discrimination, reflects growing concerns in Japan’s service sector, where staff face more frequent confrontations from frustrated customers. Other businesses and even local governments are taking action. Last month, the Tokyo Metropolitan Government passed an ordinance aimed at safeguarding service industry workers from rising levels of abuse and harassment. A survey by the UA Zensen Union showed that nearly 47% of service workers in Japan had experienced some form of harassment from customers over the past two years, with some requiring counselling to cope. A new airport employee described how common these incidents are becoming, citing a recent case where a passenger reacted aggressively over excess baggage fees. “He was banging on the counter and yelling, refusing to pay,” she said. Airlines like All Nippon Airways and Japan Airlines have also announced new guidelines that explicitly ban abusive language, threats, and unreasonable demands on their staff. Other companies are turning to technology to help their workers handle customer outbursts. Telecommunications giant Softbank, for instance, has created an AI-powered tool to alter the voices of angry callers, making them sound calm on the line. Many convenience stores have introduced staff training and signs warning that misbehaviour will not be tolerated. While Japan is known for high standards of customer service, Roy Larke, a retail expert, explains that those standards also set high expectations for customer decorum. “This breakdown of norms can be shocking, as both staff and customers expect polite interactions,” he said. Morinosuke Kawaguchi, a technology analyst, suggests that the increase in recorded incidents on social media makes the trend appear more widespread than it may be, though some companies say aggression is clearly growing.
Worker at US department giant Macy’s intentionally hid $US154 million worth of expensesA British man is said to have been captured while fighting for Ukraine in Russia’s Kursk region. In a video seen on social media, the man is dressed in army fatigues and is asked to identify himself. In another video, he has his hands tied as he is asked why he is in Russia. Responding to the reports, an Foreign, Commonwealth Development Office spokesperson said: “We are supporting the family of a British man following reports of his detention.” The man is seen telling an interrogator that he allegedly served in the British Army between 2019 and 2023 in 22 Signal Regiment. The man claims he applied to fight in Ukraine on the Foreign Legion of Ukraine’s website, before flying from London and then entering Ukraine via its Polish border. In one clip he is seen sat on a chair in a room as he tells his interrogator that he decided to fight for Ukraine after he “lost everything”. “I had just lost everything. I’d just lost my job,” he added. “It was a stupid idea.” When approached by the FCDO again, a spokesperson refused to comment on his identity. The Ministry of Defence has also been approached for comment. Russia’s state media later reported the identity of the man. Ukraine controls several hundred square kilometres of the Kursk region, but Russia’s military are gradually pushing them back with the help of North Korean troops. This story is being updated.
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Former President has died at the age of 100. The 39th president of the United States was a Georgia peanut farmer who sought to restore trust in government when he assumed the presidency in 1977 and then built a reputation for tireless work as a humanitarian. He earned a Nobel Peace Prize in 2002. He died Sunday, more than a year after entering hospice care, at his home in Plains, Georgia. At age 52, Carter was sworn in as president on Jan. 20, 1977, after defeating President Gerald R. Ford in the 1976 general election. Carter left office on Jan. 20, 1981, following his 1980 general election loss to Ronald Reagan. Here's the latest: The died Sunday, more than a year after entering , at his home in the small town of Plains, Georgia, where he and his wife, who , spent most of their lives. “Our founder, former U.S. President Jimmy Carter, passed away this afternoon in Plains, Georgia,” The Carter Center said in posting about his death on the social media platform X. It added in a statement that he died peacefully, surrounded by his family. In his 1975 book “Why Not The Best,” Carter said of himself: “I am a Southerner and an American, I am a farmer, an engineer, a father and husband, a Christian, a politician and former governor, a planner, a businessman, a nuclear physicist, a naval officer, a canoeist, and among other things a lover of Bob Dylan’s songs and Dylan Thomas’s poetry.” A moderate Democrat, as a little-known Georgia governor with a broad smile, outspoken Baptist mores and technocratic plans reflecting his education as an engineer. After he left office and returned home to his tiny hometown of Plains in southwest Georgia, Carter regularly at Maranatha Baptist Church until his mobility declined. Those sessions drew visitors from around the world.Oppenheimer & Co. Inc. bought a new position in shares of American Airlines Group Inc. ( NASDAQ:AAL – Free Report ) during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 10,895 shares of the airline’s stock, valued at approximately $122,000. A number of other hedge funds and other institutional investors have also recently modified their holdings of AAL. Blue Trust Inc. grew its stake in shares of American Airlines Group by 56.2% in the third quarter. Blue Trust Inc. now owns 2,533 shares of the airline’s stock worth $29,000 after purchasing an additional 911 shares during the last quarter. UMB Bank n.a. lifted its holdings in American Airlines Group by 404.3% in the second quarter. UMB Bank n.a. now owns 2,824 shares of the airline’s stock valued at $32,000 after buying an additional 2,264 shares during the period. Beaird Harris Wealth Management LLC lifted its holdings in American Airlines Group by 51.3% in the first quarter. Beaird Harris Wealth Management LLC now owns 2,345 shares of the airline’s stock valued at $36,000 after buying an additional 795 shares during the period. ORG Partners LLC acquired a new position in American Airlines Group in the second quarter valued at $36,000. Finally, Sentry Investment Management LLC acquired a new position in American Airlines Group in the second quarter valued at $36,000. Institutional investors own 52.44% of the company’s stock. American Airlines Group Price Performance AAL opened at $14.38 on Friday. The company has a fifty day moving average price of $12.63 and a 200-day moving average price of $11.80. The firm has a market capitalization of $9.45 billion, a P/E ratio of 43.58, a price-to-earnings-growth ratio of 0.25 and a beta of 1.39. American Airlines Group Inc. has a one year low of $9.07 and a one year high of $16.15. Analyst Upgrades and Downgrades AAL has been the topic of several recent analyst reports. BNP Paribas upgraded shares of American Airlines Group to a “hold” rating in a report on Thursday, September 19th. Susquehanna boosted their target price on shares of American Airlines Group from $11.00 to $12.00 and gave the company a “neutral” rating in a report on Wednesday, October 9th. TD Cowen boosted their target price on shares of American Airlines Group from $9.00 to $10.00 and gave the company a “hold” rating in a report on Friday, October 25th. JPMorgan Chase & Co. boosted their target price on shares of American Airlines Group from $15.00 to $20.00 and gave the company an “overweight” rating in a report on Friday, October 25th. Finally, The Goldman Sachs Group reiterated a “neutral” rating and set a $15.00 price objective on shares of American Airlines Group in a report on Friday, November 15th. One analyst has rated the stock with a sell rating, ten have given a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, American Airlines Group presently has an average rating of “Hold” and an average price target of $13.96. Get Our Latest Stock Analysis on AAL About American Airlines Group ( Free Report ) American Airlines Group Inc, through its subsidiaries, operates as a network air carrier. The company provides scheduled air transportation services for passengers and cargo through its hubs in Charlotte, Chicago, Dallas/Fort Worth, Los Angeles, Miami, New York, Philadelphia, Phoenix, and Washington, DC, as well as through partner gateways in London, Doha, Madrid, Seattle/Tacoma, Sydney, and Tokyo. See Also Five stocks we like better than American Airlines Group 5 Top Rated Dividend Stocks to Consider Vertiv’s Cool Tech Makes Its Stock Red-Hot Upcoming IPO Stock Lockup Period, Explained MarketBeat Week in Review – 11/18 – 11/22 How to Invest in Tech Stocks and Top Tech Stocks to Consider 2 Finance Stocks With Competitive Advantages You Can’t Ignore Want to see what other hedge funds are holding AAL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for American Airlines Group Inc. ( NASDAQ:AAL – Free Report ). Receive News & Ratings for American Airlines Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for American Airlines Group and related companies with MarketBeat.com's FREE daily email newsletter .