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Upper Whanganui River iwi Ngāti Hāua has initialled its Deed of Settlement for historical Treaty of Waitangi claims, describing it as an historic step forward. The milestone comes after "a long seven years" of negotiations with the Crown. It now goes before iwi members in a formal, two-month ratification process. If accepted by the iwi, Ngāti Hāua and the Crown will sign the Deed of Settlement next year in Taumarunui. Key elements of the settlement are statutory pardons for tūpuna whose wrongful convictions in 1846 remain a source of historical pain, the iwi said. It said the initialling at Parliament on Thursday of Te Pua o Te Riri Kore was a significant milestone that acknowledged the grievances endured by the iwi and set a foundation for reconciliation, restoration and a revitalised future. Ngāti Hāua Iwi Trust chair, Graham "Tinka" Bell, said the moment was profoundly significant. "In 1866, our tūpuna erected a niu pou called Riri Kore to mark the end of hostilities with the Crown. However, we continued to be labelled and stigmatised as hauhau, as rebels. "Since that time our leaders have fought to retain our mana motuhake and our ability to protect and provide for our people, our kāinga and our whenua." In the 1840s, the Crown negotiated on behalf of the New Zealand Company with another iwi to purchase land in Heretaunga (the Hutt Valley), where some Ngāti Hāua hapū had settled. The hapū were ordered to leave under threat of military force. When fighting broke out, the Crown captured and court-martialled Ngāti Hāua tūpuna. Formal pardons will be granted for Mātene Ruta Te Whareaitu, who was sentenced to death and executed by hanging, and Te Rangiatea, who was sentenced to confinement for the rest of his life and died soon after in prison. Another five tūpuna were exiled to Australia. Historical information points to these events as a catalyst to further fighting between Ngāti Hāua and the Crown in Whanganui in 1847. These events and others will be formally acknowledged in the settlement and the Crown will apologise for the impact of its breaches of Te Tiriti o Waitangi. Ngāti Hāua, whose traditional lands extend north and west from Mt Ruapehu and include the upper reaches of the Whanganui River, has negotiated financial redress of $20.4 million and a $6m cultural revitalisation fund to support the return of cultural sites and initiatives in language, marae, and cultural heritage preservation. The settlement also includes the return of 64 culturally significant sites, among them Ngā Huinga and Whakapapa Island Scenic Reserve. Fifteen original Māori place names will be restored and 12 conservation sites will be transferred in fee simple without reserve status. The extent of Ngāti Hāua's loss of land through confiscation and the Native Land Court in the 19th and early 20th centuries meant that the iwi's economic base was eroded, along with the ability to sustain itself. "Consequently, Ngāti Hāua have suffered poor housing, low educational achievement and a lack of opportunities for social and economic development," information from Ngāti Hāua and the Crown states. "This, in turn, has led to a dispersal of the Ngāti Hāua population to urban centres, and a loss of community, te reo Māori skills, and traditional cultural practices. "The extensive loss of Ngāti Hāua lands has eroded tribal structures, created severe poverty, and damaged the physical, cultural and spiritual health of generations of Ngāti Hāua people and left them unable to exercise katiakitanga over their forests, waters, kāinga and wāhi tapu." Bell said the settlement would provide Ngāti Hāua with a foundation to better provide for kaumātua and mokopuna, marae, hapū and whenua. "This settlement finally bears the fruits of the peace that our tūpuna sought with the Crown. "We look forward to taking the settlement to our people and will leave it in their hands to decide whether this settlement is enough for us to move forward and rebuild our tribal nation, for us and those to come." The ratification process asks iwi members aged 18 and over to vote on whether to accept the settlement package and approve the establishment of Te Whiringa Kākaho o Ngāti Hāua, a governance entity to manage settlement assets on behalf of the iwi. Information hui will be held across the motu, providing opportunities for iwi members to learn about the settlement and ask questions. The voting period will run from 9 December 2024 to 31 January 2025. LDR is local body journalism co-funded by RNZ and NZ On Air
Q3 Net Sales Increase of 14.6% to $843.7 million ; Comparable Sales Increase of 0.6% Q3 GAAP Diluted EPS of $0.03 , Q3 Adjusted Diluted EPS of $0.42 Increases Full Year 2024 Guidance PHILADELPHIA, PA, Dec. 04, 2024 (GLOBE NEWSWIRE) -- Five Below, Inc. (NASDAQ: FIVE) today announced financial results for the third quarter and year to date period ended November 2, 2024. For the third quarter ended November 2, 2024 : Ken Bull, Interim CEO and COO of Five Below said, "We are pleased to report third quarter results that exceeded our outlook. We delivered stronger performance across a broader group of our merchandise worlds compared to the second quarter and improved our operational execution. We were encouraged to see the positive results from the initiatives we undertook to add newness and deliver value in key categories. We opened a record 82 new stores during this period with new store performance also surpassing our expectations. Our merchant and operational teams across the organization are focused on our key priorities of product, value and store experience, and I want to thank them for their efforts in delivering these results." Mr. Bull continued, "We will build on this progress and are focused on delivering for our customers in the all-important fourth quarter. Our solid Black Friday weekend results were an encouraging start to the holiday season, though the highest volume selling days lie ahead. In addition, this year we have five fewer shopping days between Thanksgiving and Christmas, which is reflected in our outlook." For the year to date period ended November 2, 2024 : Appointment of Chief Executive Officer Five Below also announced today the appointment of Winnie Park to the role of Chief Executive Officer, effective December 16, 2024. Ken Bull, Chief Operating Officer, who was serving as Interim CEO, will continue in his role as COO, and Tom Vellios will remain Executive Chairman. This announcement was made concurrently this afternoon and can be found at investor.fivebelow.com/investors. Fourth Quarter and Fiscal 2024 Outlook: The Company expects the following results for the fourth quarter and full year fiscal 2024: For the fourth quarter of Fiscal 2024 : For the full year of Fiscal 2024 : Conference Call Information: A conference call to discuss the financial results for the third quarter of fiscal 2024 is scheduled for today, December 4, 2024, at 4:30 p.m. Eastern Time. A live audio webcast of the conference call will be available online at investor.fivebelow.com, where a replay will be available shortly after the conclusion of the call. Investors and analysts interested in participating in the call are invited to dial 412-902-6753 approximately 10 minutes prior to the start of the call. Non-GAAP Information: This press release includes adjusted operating income, adjusted net income, and adjusted diluted income per common share, each is a non-GAAP financial measure. The Company has reconciled these non-GAAP financial measures with the most directly comparable GAAP financial measures within this filing. The Company believes that these non-GAAP financial measures not only provide its management with comparable financial data for internal financial analysis but also provide meaningful supplemental information to investors. Specifically, these non-GAAP financial measures allow investors to better understand the performance of the Company's business and facilitate a meaningful evaluation of its quarterly and fiscal year 2024 diluted income per common share and actual results on a comparable basis with its quarterly and fiscal year 2023 results. In evaluating these non-GAAP financial measures, investors should be aware that in the future the Company may incur expenses that are the same as or similar to some of the adjustments in this filing. The Company's presentation of non-GAAP financial measures should not be construed to imply that its future results will be unaffected by any such adjustments. The Company has provided this information as a means to evaluate the results of its ongoing operations. Other companies in the Company's industry may calculate these items differently than it does. Each of these measures is not a measure of performance under GAAP and should not be considered as a substitute for the most directly comparable financial measures prepared in accordance with GAAP. Non-GAAP financial measures have limitations as analytical tools, and investors should not consider them in isolation or as a substitute for analysis of the Company's results as reported under GAAP. Forward-Looking Statements: This news release includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 as contained in Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, which reflect management's current views and estimates regarding the Company's industry, business strategy, goals and expectations concerning its market position, future operations, margins, profitability, capital expenditures, liquidity and capital resources, store count potential and other financial and operating information. Investors can identify these statements by the fact that they use words such as "anticipate," "assume," "believe," "continue," "could," "estimate," "expect," "intend," "may," "plan," "potential," "predict," "project," "future" and similar terms and phrases. The Company cannot assure investors that future developments affecting the Company will be those that it has anticipated. Actual results may differ materially from these expectations due to risks related to disruption to the global supply chain, risks related to the Company's strategy and expansion plans, risks related to our ability to attract, retain, and integrate qualified executive talent, risks related to disruptions in our information technology systems and our ability to maintain and upgrade those systems, risks related to the inability to successfully implement our online retail operations, risks related to cyberattacks or other cyber incidents, risks related to increased usage of machine learning and other types of artificial intelligence in our business, and challenges with properly managing its use; risks related to our ability to select, obtain, distribute and market merchandise profitably, risks related to our reliance on merchandise manufactured outside of the United States, the availability of suitable new store locations and the dependence on the volume of traffic to our stores, risks related to changes in consumer preferences and economic conditions, risks related to increased operating costs, including wage rates, risks related to inflation and increasing commodity prices, risks related to potential systematic failure of the banking system in the United States or globally, risks related to extreme weather, pandemic outbreaks, global political events, war, terrorism or civil unrest (including any resulting store closures, damage, or loss of inventory), risks related to leasing, owning or building distribution centers, risks related to our ability to successfully manage inventory balance and inventory shrinkage, quality or safety concerns about the Company's merchandise, increased competition from other retailers including online retailers, risks related to the seasonality of our business, risks related to our ability to protect our brand name and other intellectual property, risks related to customers' payment methods, risks related to domestic and foreign trade restrictions including duties and tariffs affecting our domestic and foreign suppliers and increasing our costs, including, among others, the direct and indirect impact of current and potential tariffs imposed and proposed by the United States on foreign imports, risks associated with the restrictions imposed by our indebtedness on our current and future operations, the impact of changes in tax legislation and accounting standards and risks associated with leasing substantial amounts of space. For further details and a discussion of these risks and uncertainties, see the Company's periodic reports, including the annual report on Form 10-K, quarterly reports on Form 10-Q and current reports on Form 8-K, filed with or furnished to the Securities and Exchange Commission and available at www.sec.gov. If one or more of these risks or uncertainties materialize, or if any of the Company's assumptions prove incorrect, the Company's actual results may vary in material respects from those projected in these forward-looking statements. Any forward-looking statement made by the Company in this news release speaks only as of the date on which the Company makes it. Factors or events that could cause the Company's actual results to differ may emerge from time to time, and it is not possible for the Company to predict all of them. The Company undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future developments or otherwise, except as may be required by any applicable securities laws. About Five Below: Five Below is a leading high-growth value retailer offering trend-right, high-quality products loved by teens and pre-teens. We believe life is better when customers are free to "let go & have fun" in an amazing experience filled with unlimited possibilities. With most items priced between $1 and $5, and some extreme value items priced beyond $5 in our incredible Five Beyond shop, Five Below makes it easy to say YES! to the newest, coolest stuff across eight awesome Five Below worlds: Style, Room, Sports, Tech, Create, Party, Candy and New & Now. Founded in 2002 and headquartered in Philadelphia, Pennsylvania, Five Below today has over 1,750 stores in 44 states. For more information, please visit www.fivebelow.com or find Five Below on Instagram, TikTok, and Facebook @FiveBelow. Investor Contact: Five Below, Inc. Christiane Pelz Vice President, Investor Relations 215-207-2658 [email protected] Consolidated Balance Sheets (Unaudited) (in thousands) Consolidated Statements of Operations (Unaudited) (in thousands, except share and per share data)Former Pelicans guard calls his old team 'cursed'
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ATLANTA , Dec. 12, 2024 /PRNewswire/ -- Cousins Properties Incorporated (the "Company" or "Cousins") (NYSE:CUZ) announced today that its operating partnership, Cousins Properties LP (the "Operating Partnership"), has priced an offering of $400 million aggregate principal amount of 5.375% senior unsecured notes due 2032 at 99.463% of the principal amount. The offering is expected to close on December 17, 2024 , subject to the satisfaction of customary closing conditions. Cousins intends to use the net proceeds from the offering to fund a portion of the purchase price of 601 West 2nd Street, also known as Sail Tower, an 804,000 square foot trophy lifestyle office property in Austin (the "Sail Tower Acquisition"), and the remainder to repay borrowings under its credit facility and for general corporate purposes. In the event the Sail Tower Acquisition is not completed, Cousins will use the net proceeds from the offering for general corporate purposes, including the acquisition and development of office properties, other opportunistic investments and the repayment of debt. The notes will be fully and unconditionally guaranteed on a senior unsecured basis by the Company. J.P. Morgan, Truist Securities, US Bancorp, BofA Securities, Morgan Stanley, PNC Capital Markets LLC, TD Securities and Wells Fargo Securities are acting as joint book-running managers. A shelf registration statement relating to these securities is effective with the Securities and Exchange Commission. The offering may be made only by means of a prospectus supplement and accompanying prospectus. Copies of these documents may be obtained by contacting J.P. Morgan Securities LLC, 383 Madison Avenue, New York, New York , 10179, Attention: Investment Grade Syndicate Desk, 3rd Floor, telephone collect at 1-212-834-4533; Truist Securities, Inc., Attention: Prospectus Department, 303 Peachtree Street, Atlanta, GA 30308, telephone: 800-685-4786, or e-mail: TruistSecurities.prospectus@Truist.com ; or U.S. Bancorp Investments, Inc., Attention: High Grade Syndicate, 214 North Tryon Street, 26th Floor, Charlotte, NC 28202, or by telephone at: (877) 558-2607. Electronic copies of these documents are also available from the Securities and Exchange Commission's website at www.sec.gov . This press release is neither an offer to purchase nor a solicitation of an offer to sell the notes, nor shall it constitute an offer, solicitation or sale in any state or jurisdiction in which such offer, solicitation or sale is unlawful prior to the registration or qualification under the securities laws of any such state or other jurisdiction. About Cousins Properties Cousins Properties is a fully integrated, self-administered and self-managed real estate investment trust ("REIT"). The Company, based in Atlanta, GA and acting through the Operating Partnership, primarily invests in Class A office buildings located in high growth Sun Belt markets. Founded in 1958, Cousins creates shareholder value through its extensive expertise in the development, acquisition, leasing, and management of high-quality real estate assets. The Company has a comprehensive strategy in place based on a simple platform, trophy assets, and opportunistic investments. Forward-Looking Statements Certain matters contained in this press release are "forward-looking statements" within the meaning of the federal securities laws and are subject to uncertainties and risks, as itemized in Item 1A included in the Company's Annual Report on Form 10-K for the year ended December 31, 2023 and in the Company's Quarterly Reports on Form 10-Q for the quarters ended June 30, 2024 and September 30, 2024 . These forward-looking statements include information about the Company's possible or assumed future results of the business and the Company's financial condition, liquidity, results of operations, plans, and objectives. They also include, among other things, statements regarding subjects that are forward-looking by their nature, such as: guidance and underlying assumptions; business and financial strategy; future debt financings; future acquisitions and dispositions of operating assets or joint venture interests; future acquisitions and dispositions of land, including ground leases; future acquisitions of investments in real estate debt; future development and redevelopment opportunities; future issuances and repurchases of common stock, limited partnership units, or preferred stock; future distributions; projected capital expenditures; market and industry trends; future occupancy or volume and velocity of leasing activity; entry into new markets, changes in existing market concentrations, or exits from existing markets; future changes in interest rates and liquidity of capital markets; and all statements that address operating performance, events, investments, or developments that we expect or anticipate will occur in the future — including statements relating to creating value for stockholders. Any forward-looking statements are based upon management's beliefs, assumptions, and expectations of our future performance, taking into account information that is currently available. These beliefs, assumptions, and expectations may change as a result of possible events or factors, not all of which are known. If a change occurs, our business, financial condition, liquidity, and results of operations may vary materially from those expressed in forward-looking statements. Actual results may vary from forward-looking statements due to, but not limited to, the following: the availability and terms of capital and our ability to obtain and maintain financing arrangements on terms favorable to us or at all; the ability to refinance or repay indebtedness as it matures; any changes to our credit rating; the failure of purchase, sale, or other contracts to ultimately close; the failure to achieve anticipated benefits from acquisitions, developments, investments, or dispositions; the effect of common stock or operating partnership unit issuances, including those undertaken on a forward basis, which may negatively affect the market price of our common stock; the availability of buyers and pricing with respect to the disposition of assets; changes in national and local economic conditions, the real estate industry, and the commercial real estate markets in which we operate (including supply and demand changes), particularly in Atlanta , Austin , Tampa , Charlotte , Phoenix , Dallas , and Nashville , including the impact of high unemployment, volatility in the public equity and debt markets, and international economic and other conditions; threatened terrorist attacks or sociopolitical unrest such as political instability, civil unrest, armed hostilities, or political activism, which may result in a disruption of day-to-day building operations; changes to our strategy in regard to our real estate assets may require impairment to be recognized; leasing risks, including the ability to obtain new tenants or renew expiring tenants, the ability to lease newly-developed and/or recently acquired space, the failure of a tenant to commence or complete tenant improvements on schedule or to occupy leased space, and the risk of declining leasing rates; changes in the preferences of our tenants brought about by the desire for co-working arrangements, trends toward utilizing less office space per employee, and the effect of employees working remotely; any adverse change in the financial condition or liquidity of one or more of our tenants or borrowers under our real estate debt investments; volatility in interest rates (including the impact upon the effectiveness of forward interest rate contract arrangements) and insurance rates; inflation; competition from other developers or investors; the risks associated with real estate developments (such as zoning approval, receipt of required permits, construction delays, cost overruns, and leasing risk); supply chain disruptions, labor shortages, and increased construction costs; risks associated with security breaches through cyberattacks, cyber intrusions or otherwise, as well as other significant disruptions of our information technology networks and related systems, which support our operations and our buildings; changes in senior management, changes in the Company's board of directors, and the loss of key personnel; the potential liability for uninsured losses, condemnation, or environmental issues; the potential liability for a failure to meet regulatory requirements, including the Americans with Disabilities Act and similar laws or the impact of any investigation regarding the same; the financial condition and liquidity of, or disputes with, joint venture partners; any failure to comply with debt covenants under debt instruments and credit agreements; any failure to continue to qualify for taxation as a real estate investment trust or meet regulatory requirements; potential changes to state, local, or federal regulations applicable to our business; material changes in dividend rates on common shares or other securities or the ability to pay those dividends; potential changes to the tax laws impacting real estate investment trusts and real estate in general; risks associated with climate change and severe weather events, as well as the regulatory efforts intended to reduce the effects of climate changes and investor and public perception of our efforts to respond to the same; the impact of newly adopted accounting principles on our accounting policies and on period-to-period comparisons of financial results; risks associated with possible federal, state, local, or property tax audits; and those additional risks and environmental or other factors discussed in reports filed with the Securities and Exchange Commission by the Company. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The Company cannot guarantee the accuracy of any such forward-looking statements contained in this press release, and the Company does not intend to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. Contacts Roni Imbeaux Vice President, Finance and Investor Relations 404-407-1104 rimbeaux@cousins.com View original content: https://www.prnewswire.com/news-releases/cousins-properties-announces-pricing-of-senior-notes-offering-302330787.html SOURCE Cousins Properties
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The ice sheet at TRIA Rink was slightly more crowded than in recent weeks on Thursday morning as the Minnesota Wild held their pregame skate in preparation for the Oilers first visit of the season. The two extra bodies on the ice represented some good news for a team that has made winning, despite significant injuries, its competing storylines this season. ADVERTISEMENT Specifically, veteran defenseman Jonas Brodin and top-line forward Mats Zuccarello were in full uniform, skating with their teammates for the first time in a long time. And while neither was expected back in the lineup just yet, having numbers 25 and 36 on the rink was a notably positive sight. “Really good just in the sense that they were able to skate, so we’ll do some extra work after practice and then probably skate again tomorrow and then we’ll see,” Wild coach John Hynes said. “I don’t have a timeline on them yet other than they’ve progressed well to get in the team setting. So, now we’ll see what they do. They’ll need some contact and some extra work and see how they respond.” Brodin has missed nine games this season, including the previous seven in a row, while dealing with an upper body injury. Zuccarello last played in a home win over Montreal on Nov. 14, when he was hit below the belt by a teammate’s shot and suffered a lower body injury that required surgery. Having both players back on the ice was a meaningful step for their teammates, as the Wild have persevered and gotten to the top of the Western Conference standings despite those losses, and the ongoing absence of center Joel Eriksson Ek. Brodin especially is a key player on the team’s blue line. ADVERTISEMENT “It’s exciting for everyone. He’s an important part of our team and such a factor every time he’s on the ice,” defenseman Declan Chisholm said. “He’s missed for sure and we’re excited to get him back soon.” Hynes added that during a player’s recovery from an injury, after they have begun working out and skating on their own, that first time stepping back onto the practice rink with teammates in full uniform can be a notable psychological boost. “It’s important because usually you go through that stage of the off-ice treatments and then recovery, weight room, skate on your own, and they’ve been skating together for a couple days,” the coach said. “But to get in the team setting where you’re with other guys on the ice, you’re back with the team, there’s a lot more going on, and you’re reading and reacting in certain situations, it’s a good step to get back in the team setting.” Eriksson Ek has not yet begun skating on his own as he recovers from a lower body injury suffered in overtime of a win versus Vancouver last week. ADVERTISEMENT Wild hosting holiday toy drives Hockey fans in the holiday spirit of helping those in need will have two opportunities to contribute to toy drives organized by the Wild in advance of Christmas. Prior to the Saturday, Dec. 14 game versus Philadelphia and the Friday, Dec. 20 game versus Utah, fans coming to Xcel Energy Center may bring new, unwrapped toys, games and cash which will be collected at the arena’s entrances. Personnel from the Salvation Army will distribute the donated items to needy families in the Twin Cities. ______________________________________________________ This story was written by one of our partner news agencies. Forum Communications Company uses content from agencies such as Reuters, Kaiser Health News, Tribune News Service and others to provide a wider range of news to our readers. Learn more about the news services FCC uses here .People Can Fly, the Polish developer of games including Bulletstorm, Gears of War: Judgment, and Outriders, has laid off more than 120 employees , a move the studio said was necessary "as external market pressures persisted beyond our forecasts." People Can Fly CEO Sebastian Wojciechowski said is a message posted to social media that the layoffs are the result of a change in the studio's self-publishing strategy, which includes the suspension of Project Victoria, a reduction of the team working on Project Bifrost, and "restructuring some of our supporting teams." "The videogame market is still evolving, and we have to adjust with where things are today," People Can Fly CEO Sebastian Wojciechowski wrote. "We are redoubling our efforts with new work for hire engagements and focusing on the development of a single independent game. "We believe in our teams, games, and their potential, and we remain extremely committed to continuing that journey, but we need to tailor our plans to our financial capacity." People Can Fly's website says the studio has more than 700 employees, presumably a pre-layoff headcount. Neither Project Victoria nor Bifrost had been publicly revealed, but People Can Fly have been working on both for at least two years. The studio referenced the games when it announced the end of its publishing deal with Take-Two Interactive in 2022, saying it would self-publish both. But it's had a rough time of things since then: Project Dagger, which it had been developing in partnership with Take-Two since 2020, ran into trouble in 2023 and was eventually axed earlier this year . Layoffs suck, and the decimation of the videogame industry we've witnessed over the past two years is an ongoing indictment of executive leadership virtually across the board. But as we said last week when Ubisoft, Torn Banner, and Sweet Bandits imposed layoffs of their own—which came just weeks after layoffs at other studios including Thunderful , Humanoid Origin , Reflector Entertainment , and Worlds Untold , and just before layoffs at Illfonic and Deck Nine , in case there was any doubt that there's something very wrong here—the timing of these cuts, which come just 15 days before Christmas, makes them especially ugly. The biggest gaming news, reviews and hardware deals Keep up to date with the most important stories and the best deals, as picked by the PC Gamer team. This will be the second round of layoffs at People Can Fly in 2024—the first happened in January, when more than 30 people working on yet another project, codenamed Gemini, were let go.