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The controversy around a religious Christmas sign that was taken down in downtown Kelowna continues. Two days after a sign stating 'Keep Christ in Christmas' was removed from the nativity scene display at Stuart Park, Kelowna-Centre MLA Kristina Loewen went to social media to express her opinion on the matter. "We believe that it's an important detail that Christmas is a Christian holiday," said Loewen in her video, referring to 'we' as all of the MLAs for the Central Okanagan. "We will be standing united and defending all British Columbians rights to religion and freedom of expression, speech, thought, belief," she added. "Canada is an incredible country full of diverse cultures and religions, and a wide variety of views, and I think that's one of the things that makes us so incredible." Kelowna-Lake Country-Coldstream MLA Tara Armstrong agreed with her fellow Conservative, quote-tweeting the video and saying "a great message from a colleague and friend. I'm proud to be part of a team that stands for what's right." Macklin McCall, MLA for West Kelowna, also quote-tweeted Loewen's post. However, Kelowna-Mission MLA Gavin Dew appears to not have commented on social media. The nativity scene is put up by the Knights of Columbus every year and a permit is given from the City of Kelowna to do so. When the 'Keep Christ in Christmas' sign was displayed beside the scene on Monday, Dec. 9, some people in the community, including the Kelowna Atheists, Skeptics, and Humanists Association (KASHA) took issue. A letter by KASHA to Black Press Media on Dec. 9, stated the nativity scene is part of Christmas, just as "lights, festive trees, and other decorative displays" are also. "This message is not merely festive—it is political, advocating for a specific religious interpretation of the holiday," said KASHA about the sign. The next day, the sign was taken down and the City of Kelowna confirmed that the sign was not part of the Knights of Columbus' permit for the nativity scene. The Knights of Columbus had no comment regarding the matter. Capital News reached out to Loewen for further comment but was met with an automatic e-mail reply. Additionally, the City of Kelowna stated it had no comment on Loewen's video. However, Ian Bushfield the executive director of the B.C. Humanist Association did have a comment. "Freedom of religion in Canada includes freedom from religion," said Bushfield in an e-mailed statement. "Ms. Loewen and all Christians are obviously free to celebrate Christmas as a Christian holiday but our governments have a clear duty of religious neutrality. That means neither endorsing nor prohibiting any religion over any other. That sign, and arguably even the nativity scene, being on public property breaches that duty. She can put the sign up at her church or at her own house but we do not live in a theocracy." Bushfield has previously stated that BCHA is an organization committed to secular values. “Part of that is the separation of religion and government," said Bushfield. The City of Kelowna also said it received five letters on the matter when the sign was up but none since it's been taken down.Pride, bragging rights and more than $115M at stake when final college playoff rankings come out
Tilly's, Inc. TLYS the ", Company", )) today announced financial results for the third quarter of fiscal 2024 ended November 2, 2024. "Our third quarter results included our best quarterly comp sales performance since fiscal 2021, our first month of positive comp sales since February 2022 during fiscal August, and our second consecutive quarter of year-over-year store traffic growth," commented Hezy Shaked, Co-Founder, Executive Chairman, President and Chief Executive Officer. "However, we still have a long way to go to return to generating consistent sales growth and profitability. We are disappointed in our net sales performance in the early stages of the fourth quarter, yet somewhat encouraged by our improved product margins thus far in the fourth quarter." Operating Results Overview Fiscal 2024 Third Quarter Operating Results Overview The following comparisons refer to the Company's operating results for the third quarter of fiscal 2024 ended November 2, 2024 versus the third quarter of fiscal 2023 ended October 28, 2023. Total net sales were $143.4 million, a decrease of 13.8%. This decrease was primarily attributable to the calendar shift impact of last year's 53rd week in the retail calendar, which caused a portion of the back-to-school season's sales volume to shift into the second quarter this year from the third quarter last year, resulting in a net sales reduction of $18.4 million in this year's third quarter. Total comparable net sales, including both physical stores and e-commerce ("e-com"), decreased by 3.4% relative to the comparable 13-week period ended November 4, 2023. Net sales from physical stores were $111.3 million, a decrease of 16.0%. Comparable store net sales decreased 5.6% relative to the comparable 13-week period ended November 4, 2023. Net sales from physical stores represented 77.6% of total net sales this year compared to 79.6% of total net sales last year. The Company ended the third quarter with 246 total stores compared to 249 total stores at the end of the third quarter last year. Net sales from e-com were $32.2 million, a decrease of 5.4%. E-com net sales increased 4.9% relative to the comparable 13-week period ended November 4, 2023. E-com net sales represented 22.4% of total net sales this year compared to 20.4% of total net sales last year. Gross profit, including buying, distribution, and occupancy costs, was $37.2 million, or 25.9% of net sales, compared to $48.7 million, or 29.3% of net sales, last year. Product margins were generally consistent with last year's third quarter, declining by 10 basis points. Buying, distribution, and occupancy costs deleveraged by 320 basis points collectively, despite being $0.7 million lower than last year, primarily due to carrying these costs against a lower level of net sales this year. Selling, general and administrative ("SG&A") expenses were $51.3 million, or 35.7% of net sales, compared to $51.2 million, or 30.8% of net sales, last year. Lower store payroll and related benefits as well as lower non-cash store asset impairment charges were largely offset by increased e-com fulfillment costs. Operating loss was $14.1 million, or 9.8% of net sales, compared to $2.5 million, or 1.5% of net sales, last year, due to the combined impact of the factors noted above. Pre-tax loss was $12.9 million, or 9.0% of net sales, compared to $1.2 million, or 0.7% of net sales, last year. Income tax benefit was $5.0 thousand or 0.0% of pre-tax loss, compared to $0.3 million, or 28.0% of pre-tax loss, last year. The decrease in the effective income tax rate was due to the continuing impact of the previously disclosed full, non-cash deferred tax asset valuation allowance. Net loss was $12.9 million, or $0.43 net loss per share, compared to $0.8 million, or $0.03 net loss per share, last year. Weighted average shares were 30.1 million this year compared to 29.9 million shares last year. Fiscal 2024 Year-to-Date Third Quarter Operating Results Overview The following comparisons refer to the Company's operating results for the first 39 weeks of fiscal 2024 ended November 2, 2024 versus the first 39 weeks of fiscal 2023 ended October 28, 2023. Total net sales were $422.2 million, a decrease of 6.2%. Total comparable net sales, including both physical stores and e-commerce ("e-com"), decreased by 6.8% relative to the comparable 39-week period ended November 4, 2023. Net sales from physical stores were $336.4 million, a decrease of 6.6%. Comparable store net sales decreased 7.4% relative to the comparable 39-week period ended November 4, 2023. Net sales from physical stores represented 79.7% of total net sales this year compared to 80.0% of total net sales last year. Net sales from e-com were $85.8 million, a decrease of 4.7%. E-com net sales decreased 4.6% relative to the comparable 39-week period ended November 4, 2023. E-com net sales represented 20.3% of total net sales this year compared to 20.0% of total net sales last year. Gross profit, including buying, distribution, and occupancy costs, was $111.4 million, or 26.4% of net sales, compared to $119.0 million, or 26.4% of net sales, last year. Product margins improved by 130 basis points primarily due to the combination of improved initial markups and lower total markdowns. Buying, distribution, and occupancy costs deleveraged by 140 basis points collectively, despite being $1.3 million lower than last year, primarily due to carrying these costs against lower net sales this year. SG&A expenses were $147.1 million, or 34.9% of net sales, compared to $141.4 million, or 31.4% of net sales, last year. The $5.7 million increase in SG&A was primarily attributable to increases in store payroll and related benefits of $1.6 million due to wage rate increases, software as a service expense of $1.4 million, corporate payroll and related benefits of $1.2 million, e-commerce fulfillment expenses of $1.0 million, and non-cash store asset impairment charges of $1.0 million. These increases were partially offset by a variety of smaller expense decreases. Operating loss was $35.7 million, or 8.5% of net sales, compared to $22.5 million, or 5.0% of net sales, last year, due to the combined impact of the factors noted above. Pre-tax loss was $32.6 million, or 7.7% of net sales, compared to $18.8 million, or 4.2% of net sales, last year. Income tax benefit was $21.8 thousand or 0.1% of pre-tax loss, compared to $4.9 million, or 26.0% of pre-tax loss, last year. The decrease in the effective income tax rate was due to the continuing impact of the previously disclosed full, non-cash deferred tax asset valuation allowance. Net loss was $32.6 million, or $1.08 net loss per share, compared to $13.9 million, or $0.47 net loss per share, last year. Weighted average shares were 30.0 million this year compared to 29.8 million shares last year. Balance Sheet and Liquidity As of November 2, 2024, the Company had $51.7 million of cash, cash equivalents and marketable securities and no debt outstanding. Total inventories increased 11.8% as of November 2, 2024 compared to October 28, 2023, largely due to pulling forward new inventory receipts to improve distribution center efficiencies. Total year-to-date capital expenditures at the end of the third quarter were $6.7 million this year compared to $10.5 million last year. Fiscal 2024 Fourth Quarter Outlook Total comparable net sales through December 3, 2024 decreased by 15.3% relative to the comparable period of last year ended December 5, 2023, with meaningfully improved product margins compared to last year. On a shifted basis, lining up the timing of this year's Thanksgiving holiday with last year's, total comparable net sales through December 3, 2024, decreased by 9.6% relative to the comparable period of last year ended November 28, 2023. Based on current and historical trends, the Company currently estimates the following for the fourth quarter of fiscal 2024: Net sales to be in the range of approximately $149 million to $156 million, translating to an estimated comparable net sales decrease in the range of approximately 9% to 5%, respectively, relative to the comparable 13-week period last year; Product margin improvement of approximately 200 basis points relative to last year's fourth quarter; SG&A expenses to be approximately $52 million before factoring in any potential non-cash store asset impairment charges that may arise; Pre-tax loss and net loss to be in the range of approximately $13.0 million to $9.5 million, respectively, with a near-zero effective income tax rate due to the continuing impact of a full, non-cash valuation allowance on deferred tax assets; and Per share results to be in the range of a net loss of $0.43 to $0.32, respectively, with estimated weighted average shares of approximately 30 million. The Company currently expects to have 239 total stores open at the end of the fourth quarter of fiscal 2024. The Company opened three new stores in November and currently expects to close 10 predominantly underperforming stores near the end of the quarter. Conference Call Information A conference call with analysts to discuss these financial results is scheduled for today, December 5, 2024, at 4:30 p.m. ET (1:30 p.m. PT). Analysts interested in participating in the call are invited to dial (877) 300-8521 (domestic) or (412) 317-6026 (international). The conference call will also be available to interested parties through a live webcast at www.tillys.com . Please visit the website and select the "Investor Relations" link at least 15 minutes prior to the start of the call to register and download any necessary software. A telephone replay of the call will be available until December 12, 2024, by dialing (844) 512-2921 (domestic) or (412) 317-6671 (international) and entering the conference identification number: 10193481. About Tillys Tillys is a leading, destination specialty retailer of casual apparel, footwear, accessories and hardgoods for young men, young women, boys and girls with an extensive selection of iconic global, emerging, and proprietary brands rooted in an active, outdoor and social lifestyle. Tillys is headquartered in Irvine, California and currently operates 249 total stores across 33 states, as well as its website, www.tillys.com . Forward-Looking Statements Certain statements in this press release are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. In particular, statements regarding our current operating expectations in light of historical results, the impacts of inflation and potential recession on us and our customers, including on our future financial condition or operating results, expectations regarding changes in the macro-economic environment, customer traffic, our supply chain, our ability to properly manage our inventory levels, and any other statements about our future cash position, financial flexibility, expectations, plans, intentions, beliefs or prospects expressed by management are forward-looking statements. These forward-looking statements are based on management's current expectations and beliefs, but they involve a number of risks and uncertainties that could cause actual results or events to differ materially from those indicated by such forward-looking statements, including, but not limited to the impact of inflation on consumer behavior and our business and operations, supply chain difficulties, and our ability to respond thereto, our ability to respond to changing customer preferences and trends, attract customer traffic at our stores and online, execute our growth and long-term strategies, expand into new markets, grow our e-commerce business, effectively manage our inventory and costs, effectively compete with other retailers, attract talented employees, or enhance awareness of our brand and brand image, general consumer spending patterns and levels, including changes in historical spending patterns, the markets generally, our ability to satisfy our financial obligations, including under our credit facility and our leases, and other factors that are detailed in our Annual Report on Form 10-K, filed with the Securities and Exchange Commission ("SEC"), including those detailed in the section titled "Risk Factors" and in our other filings with the SEC, which are available on the SEC's website at www.sec.gov and on our website at www.tillys.com under the heading "Investor Relations". Readers are urged not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. We do not undertake any obligation to update or alter any forward-looking statements, whether as a result of new information, future events or otherwise. This release should be read in conjunction with our financial statements and notes thereto contained in our Form 10-K. Tilly's, Inc. Consolidated Balance Sheets (In thousands, except par value) (unaudited) November 2, 2024 February 3, 2 024 October 28, 2 023 ASSETS Current assets: Cash and cash equivalents $ 26,407 $ 47,027 $ 44,425 Marketable securities 25,321 48,021 49,523 Receivables 6,136 5,947 7,118 Merchandise inventories 92,481 63,159 82,753 Prepaid expenses and other current assets 11,781 11,905 11,816 Total current assets 162,126 176,059 195,635 Operating lease assets 181,117 203,825 216,205 Property and equipment, net 42,603 48,063 49,220 Deferred tax assets, net — — 13,229 Other assets 1,424 1,598 1,685 TOTAL ASSETS $ 387,270 $ 429,545 $ 475,974 LIABILITIES AND STOCKHOLDERS' EQUITY Current liabilities: Accounts payable $ 32,577 $ 14,506 $ 27,025 Accrued expenses 12,771 13,063 14,688 Deferred revenue 13,333 14,957 13,520 Accrued compensation and benefits 8,127 9,902 10,590 Current portion of operating lease liabilities 49,944 48,672 50,063 Current portion of operating lease liabilities, related party 3,345 3,121 3,048 Other liabilities 210 336 330 Total current liabilities 120,307 104,557 119,264 Long-term liabilities: Noncurrent portion of operating lease liabilities 135,724 160,531 171,388 Noncurrent portion of operating lease liabilities, related party 16,736 19,267 20,081 Other liabilities 192 321 391 Total long-term liabilities 152,652 180,119 191,860 Total liabilities 272,959 284,676 311,124 Stockholders' equity: Common stock (Class A) 23 23 23 Common stock (Class B) 7 7 7 Preferred stock — — — Additional paid-in capital 174,516 172,478 171,754 Accumulated deficit (60,527 ) (27,962 ) (7,410 ) Accumulated other comprehensive income 292 323 476 Total stockholders' equity 114,311 144,869 164,850 TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY $ 387,270 $ 429,545 $ 475,974 Tilly's, Inc. Consolidated Statements of Operations (In thousands, except per share data) (unaudited) Thirteen Weeks Ended Thirty-Nine Weeks Ended November 2, 2 024 October 28, 2 023 November 2, 2024 October 28, 2023 Net sales $ 143,442 $ 166,475 $ 422,165 $ 450,063 Cost of goods sold (includes buying, distribution, and occupancy costs) 105,314 116,825 307,939 328,297 Rent expense, related party 931 931 2,796 2,793 Total cost of goods sold (includes buying, distribution, and occupancy costs) 106,245 117,756 310,735 331,090 Gross profit 37,197 48,719 111,430 118,973 Selling, general and administrative expenses 51,118 51,101 146,734 141,035 Rent expense, related party 133 134 397 400 Total selling, general and administrative expenses 51,251 51,235 147,131 141,435 Operating loss (14,054 ) (2,516 ) (35,701 ) (22,462 ) Other income, net 1,174 1,341 3,114 3,625 Loss before income taxes (12,880 ) (1,175 ) (32,587 ) (18,837 ) Income tax benefit (5 ) (328 ) (22 ) (4,897 ) Net loss $ (12,875 ) $ (847 ) $ (32,565 ) $ (13,940 ) Basic net loss per share of Class A and Class B common stock $ (0.43 ) $ (0.03 ) $ (1.08 ) $ (0.47 ) Diluted net loss per share of Class A and Class B common stock $ (0.43 ) $ (0.03 ) $ (1.08 ) $ (0.47 ) Weighted average basic shares outstanding 30,060 29,872 30,017 29,834 Weighted average diluted shares outstanding 30,060 29,872 30,017 29,834 Tilly's, Inc. Consolidated Statements of Cash Flows (In thousands) (unaudited) Thirty-Nine Weeks Ended November 2, 2 024 October 28, 2 023 Cash flows from operating activities Net loss $ (32,565 ) $ (13,940 ) Adjustments to reconcile net loss to net cash used in operating activities: Depreciation and amortization 9,586 9,547 Stock-based compensation expense 1,744 1,684 Impairment of assets 3,605 2,631 (Gain) loss on disposal of assets (45 ) 2 Gain on maturities of marketable securities (1,449 ) (1,156 ) Deferred income taxes — (4,732 ) Changes in operating assets and liabilities: Receivables 611 4,196 Merchandise inventories (29,322 ) (20,636 ) Prepaid expenses and other assets 900 5,980 Accounts payable 18,047 11,033 Accrued expenses (159 ) 106 Accrued compensation and benefits (1,775 ) 2,407 Operating lease liabilities (5,422 ) (4,545 ) Deferred revenue (1,624 ) (2,583 ) Other liabilities (335 ) (452 ) Net cash used in operating activities (38,203 ) (10,458 ) Cash flows from investing activities Purchases of marketable securities (59,557 ) (88,146 ) Purchases of property and equipment (6,678 ) (10,543 ) Proceeds from maturities of marketable securities 83,500 80,000 Proceeds from sale of property and equipment 24 9 Net cash provided by (used in) investing activities 17,289 (18,680 ) Cash flows from financing activities Proceeds from exercise of stock options 294 210 Taxes paid on short-swing profits disgorgement payment — (173 ) Net cash provided by financing activities 294 37 Change in cash and cash equivalents (20,620 ) (29,101 ) Cash and cash equivalents, beginning of period 47,027 73,526 Cash and cash equivalents, end of period $ 26,407 $ 44,425 Tilly's, Inc. Store Count and Square Footage Store Count at Beginning of Quarter New Stores Opened During Quarter Stores Permanently Closed During Quarter Store Count at End of Quarter Total Gross Square Footage End of Quarter (in thousands) 2023 Q1 249 1 2 248 1,809 2023 Q2 248 — 2 246 1,792 2023 Q3 246 3 — 249 1,810 2023 Q4 249 3 4 248 1,801 2024 Q1 248 2 4 246 1,784 2024 Q2 246 1 — 247 1,791 2024 Q3 247 — 1 246 1,780 View source version on businesswire.com: https://www.businesswire.com/news/home/20241205990996/en/ © 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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(TNS) — The state has made nearly $32.5 million available for the next five years for students pursing degrees and certificates in science, technology, engineering and math, and education degrees and certificates with a STEM focus, according to an announcement from the Ohio Department of Higher Education. The money will be awarded over the next five years at participating Ohio public and private schools, including Baldwin Wallace, Case Western Reserve, Cleveland State, John Carroll and Kent State universities; the University of Akron; Hiram, Ursuline and Lake Erie colleges; and Cuyahoga, Lakeland and Lorain County community colleges. for a complete list of colleges statewide. Scholarship decisions are made by the schools. Those interested in applying should contact their university, college, or community college. The Ohio Controlling Board, a panel made up of representatives of the legislature and Gov. Mike DeWine’s administration that reviews state spending proposals, approved the funding Monday. The Choose Ohio First program began in 2007 when Ohio Lt. Gov. Jon Husted was speaker of the Ohio House. The General Assembly created the Choose Ohio First program to increase the number of Ohio residents completing postsecondary studies in the STEM fields or education degrees and certificates in STEM disciplines, Ohio Department of Higher Education spokesman Jeff Robinson said. More than 17,600 students have received scholarships. Since 2007, there have been multiple funding rounds. The funding announced this week is the sixth during the administration of Gov. Mike DeWine and Husted. In the 2022-2023 school year, the average scholarship at a four-year college was $4,271. The average two-year college scholarship was $2,317. “As Ohio continues to attract new businesses and advance innovation, it’s more critical than ever that we invest in keeping our talented students right here in the Buckeye State,” Husted said in a Department of Higher Education statement. “The Choose Ohio First program strengthens our commitment to preparing students for in-demand careers while ensuring that Ohio’s workforce remains competitive, dynamic, and ready to meet the needs of our growing economy.” ©When winter heads our way, bringing chilly temperatures and close, dark nights, my thoughts turn to Cassoulet, the iconic comfort food from southwestern France. It has it all – juicy beans, duck leg confit, sausages and sometimes pork or lamb, slowly simmered in well-seasoned broth, then baked in a wide-mouthed, glazed terra-cotta dish called a . Like any truly traditional dish, there are multiple versions, all claiming to be the “authentic one.” Cassoulet originated in southwestern France. Toulouse claims it — and so does Castelnaudary and Carcassonne — and the recipes vary. Toulouse adherents eschew adding cubed pork. Castelnaudary purists add a bit of lamb, while Carcassonne’s adds partridge. In most restaurants, cassoulets are served in an individual , bubbling with hot juices,and with a bit of duck leg peeking through the top. But at , a vast indoor- outdoor restaurant on the edge of a forest near Castelnaudary, the cassoulets come to the table in family-size , big enough to serve two, four, six or even 10 people, so you can share the dish with your dining companions. I don’t know if Etienne’s even has a single-serving bowl size. I didn’t see one, when I was there as the guest of a bean trader from Castelnaudary. According to him, Etiennne’s has the best cassoulet anywhere, and they use the Lauragais lingot beans known as the Castelnaudary bean. Copious doesn’t begin to describe the cassoulet scene there, with stacks of lined up in Etienne’s kitchen, next to caldrons of simmering beans, ready to be filled and popped into the vast ovens. Here in the Bay Area, we have our own go-to restaurants for cassoulets. Some, like the in San Jose, Menlo Park, Oakland and Larkspur, and in Lafayette, only serve it during the winter months as a special. (Reve will be serving cassoulet Dec. 10-14, for example, and Jan. 7-11; reserve it when you reserve your table.) Others, such as in Yountville and in San Francisco, always have it on the menu. Both Reve Bistro and Bistro Jeanty use made by potter Kathy Kernes at her in Crockett, and they are every bit as beautiful and as practical as those you’ll find in southwestern France. Kernes’ makes in six sizes ($38-$210), ranging from individual to “extra large plus,” which is very large indeed. (Browse the possibilities at Reve Bistro offers take-out cassoulets if you pre-order the week the dish is on the menu. Pick it up — in a takeout container, not a cassole! — then heat it at home. Just note that chef-owner Paul Magu-Lecugy only makes a limited number of portions. “It’s time consuming,” he says, noting for him, it is a two-day process. Le Central’s cassoulet is one of the more elaborate around, with lamb, pork shoulder and boudin blanc, as well as the all-important duck leg confit and slightly garlicky Toulouse sausage. Left Bank uses chef-owner Roland Passot’s recipe (see below) and keeps it simple, limiting the meats to duck leg confit and Toulouse sausages. (Don’t panic. If you’re making this at home, some specialty markets sell duck confit.) The beans are key to cassoulet. Once cooked, they should not be mushy, but hold their shape after the long cooking. In France, tradition calls for either Tarbais beans, a plump, white bean, or lingot beans — a strain of cannellini beans — in making cassoulet. As Passot suggests in his recipe below, you can substitute cannellini beans or Great Northern beans. Rancho Gordo produces , a West Coast-grown bean from the Tarbais strain. Cassoulet isn’t difficult to make. It just requires time and patience. You can make it a couple of days ahead, refrigerate it and then slowly reheat it. That way, there’s nothing to do on the day of but sip a glass of wine while the beans and meats slowly heat to bubbling. Add a green salad and some crusty bread, and you’ll have the perfect winter meal. Or put your coat on and head to one of our local restaurants, where the cooking is done for you. All you need is a reservation. Serves 6 to 8 4 cups dried lingot beans (white kidney, cannellini or Great Northern, will all work) 1 small carrot, peeled and chopped 1 small onion, diced (about 3⁄4 cup) 1 clove garlic, chopped 1 pound slab bacon or extra thick-cut bacon, cut into 1-inch cubes 2 sprigs of thyme 1 bay leaf 1⁄4 cup duck fat (lard will do in a pinch) 2 pounds pork butt cut in 2-inch cubes 1 cup onions, diced small 4 cloves garlic, chopped 1⁄4 cup tomato paste 1 small can diced tomatoes 11⁄2-2 cups reserved bean water 6 Toulouse sausages 1 small garlic sausage 4 confit duck legs, purchased or homemade (see note below) 1 cup panko bread crumbs 1 teaspoon garlic, chopped 1 tablespoon parsley, chopped 1⁄4 teaspoon fresh thyme, chopped 1 tablespoon extra virgin olive oil If you are making your own duck confit, start the night before by rubbing the duck legs with a “green salt” mixture — kosher salt, parsley, a couple of bay leaves and thyme ground together. The next day, rinse the duck legs well, pat dry and place in an oven-safe cooking vessel with enough duck fat to cover the legs. Roast in a 225-degree oven for 21⁄2 to 3 hrs. The night before, place the beans in a deep pot and add enough water to cover by 2 inches. Let beans soak overnight. The next day, rinse the beans well. Add the rinsed beans, carrots, onions, garlic, bacon, thyme and bay leaf to cold water and cook, over low heat, until the beans are tender. Strain the beans, saving the water, and set aside the beans. In a large braising pan, melt the duck fat over medium high heat. Once the pan is hot, brown the pork butt pieces without stirring. When beginning to brown, start stirring, making sure you scrape the bottom if it starts to caramelize. The pork doesn’t need much color, but it does need to cook in the duck fat for a while. Add lots of salt and pepper. This is not a shy dish. When the pork is nice and brown on all sides, add the 1 cup onions and garlic, and sauté until the onions are soft and cooked through. Add the tomato paste, diced tomatoes and reserved liquid from the beans. Stir, using a rubber spatula to clean the side of the pot. Preheat your oven to 250 degrees. Bring the heat under the braising pan up to high. Once at a rolling boil, turn down to low heat and add all the sausages. When they are cooked through, remove and set aside. Slice the garlic sausage in half and cut into 1-inch pieces. Return the whole and sliced sausages back to the pot along with the cooked beans. Continue to cook on low heat until the pork is cooked through. Taste for seasoning; add more salt and pepper if needed. Transfer the beans and pork to a heavy, wide mouth, earthenware, clay or cast iron baking dish that can hold 5 to 6 quarts. Bake at 250 degrees for about 11⁄2 hours, checking at least every 30 minutes. It may require a bit more time. If the dish is starting to look too dry, add a small amount of reserved bean broth or chicken stock. Add warmed duck legs to the cassoulet and make a breadcrumb topping by combining the panko, garlic, parsley, thyme and extra virgin olive oil. Return the dish to the oven and continue baking until the crumbs brown on the top.