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Best Buy posts better-than-expected 3Q profits but sales sluggish amid spending malaise

Published Tue, 05 Nov 2024 13:42:16 GMT

NEW YORK (AP) — Best Buy Co. posted stronger-than-expected profits for the fiscal third quarter but continues to struggle with sales declines as shoppers pull back more on buying gadgets in an uncertain economy.The nation’s largest consumer electronics chain also cut its annual sales outlook, sending shares down 5% in premarket trading.The job market has remained resilient, but Americans are facing higher prices on many items, even as the inflation rate is easing. And they’re also facing more expensive credit with the Federal Reserve hiking benchmark interest rates to combat inflation. It’s costing more to take out loans for appliances, cars and houses, or to use a credit card. As a result, consumers have become reluctant to spend unless there is a sale. “In the more recent macro environment, consumer demand has been even more uneven and difficult to predict,” said Best Buy’s CEO Corie Barry in a statement.The Richfield, Minnesota-based company reported fisca...

Northern Technologies: Fiscal Q4 Earnings Snapshot

Published Tue, 05 Nov 2024 13:42:16 GMT

CIRCLE PINES, Minn. (AP) — CIRCLE PINES, Minn. (AP) — Northern Technologies International Corp. (NTIC) on Tuesday reported earnings of $939,000 in its fiscal fourth quarter.The Circle Pines, Minnesota-based company said it had net income of 10 cents per share. Earnings, adjusted for non-recurring gains, were 3 cents per share.The rust and corrosion prevention company posted revenue of $20.7 million in the period.For the year, the company reported profit of $2.9 million, or 30 cents per share. Revenue was reported as $79.9 million._____This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on NTIC at https://www.zacks.com/ap/NTICSource

Next 2 days likely to be this week’s busiest. Here’s when not to be on the road — or in the airport

Published Tue, 05 Nov 2024 13:42:16 GMT

DALLAS (AP) — Despite inflation and memories of past holiday travel meltdowns, millions of people are expected to hit airports and highways in record numbers over the Thanksgiving break.The busiest days to fly will be Tuesday and Wednesday as well as the Sunday after Thanksgiving. The Transportation Security Administration expects to screen 2.6 million passengers on Tuesday and 2.7 million passengers on Wednesday. Sunday will draw the largest crowds with an estimated 2.9 million passengers, which would narrowly eclipse a record set on June 30.Meanwhile, AAA forecasts that 55.4 million Americans will travel at least 50 miles from home between next Wednesday and the Sunday after Thanksgiving, with roads likely to be the most clogged on Wednesday.The weather could snarl air and road traffic. A storm system was expected to move from the southern Plains to the Northeast on Tuesday and Wednesday, bringing severe thunderstorms, gusty wind and possible snow.U.S. Transportation Secretary Pet...

Reese’s unexplained absence brings unwanted scrutiny to No. 7 LSU and coach Kim Mulkey

Published Tue, 05 Nov 2024 13:42:16 GMT

BATON ROUGE, La. (AP) — With LSU star forward Angel Reese missing in action and little explanation forthcoming from coach Kim Mulkey, the seventh-ranked Tigers are attracting unwanted scrutiny at the outset of their national title defense.“You always have to deal with locker-room issues,” Mulkey said Monday night after LSU beat Texas Southern 106-47 in the second straight game that Reese missed for undisclosed reasons. “Sometimes you all know about them. Sometimes you don’t. Sometimes you want to know more than you’re entitled to know,” Mulkey continued. “I’m going to protect my players — always. They are like a family.”Recent drama involving not just Reese’s absence, but critical comments by some players’ parents on social media, began not long after a surprising season-opening loss for what on paper looks like the quintessential super team in this new era of relaxed rules governing transfers and player endorsement earnings.On Monday night, Reese was seen only dur...

American Eagle: Fiscal Q3 Earnings Snapshot

Published Tue, 05 Nov 2024 13:42:16 GMT

PITTSBURGH (AP) — PITTSBURGH (AP) — American Eagle Outfitters Inc. (AEO) on Tuesday reported fiscal third-quarter earnings of $96.7 million.On a per-share basis, the Pittsburgh-based company said it had profit of 49 cents.The results exceeded Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of 48 cents per share.The teen clothing retailer posted revenue of $1.3 billion in the period, which also beat Street forecasts. Six analysts surveyed by Zacks expected $1.28 billion.American Eagle shares have increased 41% since the beginning of the year. The stock has climbed 53% in the last 12 months._____This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on AEO at https://www.zacks.com/ap/AEOSource

Urban heat islands: Map shows the hottest neighborhoods in Denver, Colorado Springs

Published Tue, 05 Nov 2024 13:42:16 GMT

(NEXSTAR) – Winter may be around the corner, but that doesn't mean different parts of the city will all feel the same temperature. The urban heat island effect may be to blame.The way a city is designed can make hot weather feel even worse. The temperature on your block is influenced by everything from the number of trees on the street to the color of the pavement. When trees and vegetation (which absorb heat) are replaced by buildings and roads (which can radiate heat), it feels hotter. "The heat island effect can result in significant temperature differences between rural and urban areas," explains the Environmental Protection Agency. Goodbye, snowy Colorado winters? New climate report offers dry projections Climate Central, an organization of scientists and journalists focused on studying the impacts of climate change, broke down 44 cities into Census blocks to determine which neighborhoods suffer from the worst urban heat effects. In some cities, like Indianapolis, Albuqu...

Two arrested in connection to shooting of MDPD officer in Miami Gardens

Published Tue, 05 Nov 2024 13:42:16 GMT

Two men have been arrested and charged with attempted murder on a law enforcement officer in connection with Monday’s shooting that grazed a Miami-Dade Police detective. The suspects, 19-year-old Travis Arratin Fernandez and 19-year-old Drequan Humes, were booked into Miami-Dade jail Tuesday morning.https://twitter.com/fox_sheldon/status/1726973952671826081?s=20The incident unfolded just after 10:30 a.m. on Monday in the area of NW 152nd Street and 22nd Avenue, where an altercation between two men escalated, leading to the shooting. The bullet, bouncing off the officer’s bullet-proof vest, grazed him in the cheek.Following the incident, the suspects fled the scene, prompting an extensive investigation by law enforcement. The injured officer, who had been transported to Jackson Memorial Hospital, was discharged Monday night after receiving medical attention.The suspects are now facing charges of attempted murder on a law enforcement officer. Authorities have not disclos...

EU population fell by 265k during the pandemic

Published Tue, 05 Nov 2024 13:42:16 GMT

The European Union’s population shrank by 265,257 during the COVID-19 pandemic years, the EU’s statistics agency Eurostat said Tuesday.The pandemic “played a role” in the downfall, which took place between January 2021 and January 2022, Eurostat said in a press release.“This reduction could be attributed to natural population changes (more deaths than births)” whereas migration rates remained positive, meaning there were more people entering the EU than leaving it, the press release said.According to calculations from the European Commission, the COVID-19 pandemic led to excess mortality of at least 872,000 deaths in the bloc’s 27 member countries in less than a year and a half.This means an extra 872,000 people died in Europe between March 2020 and July 2021 compared to the average number of deaths on the Continent in the five previous years.

Germany freezes new spending as budget crisis deepens

Published Tue, 05 Nov 2024 13:42:16 GMT

BERLIN — Germany’s finance ministry has imposed a spending freeze on all federal ministries, deepening a budget crisis that has rocked the ruling coalition since a bombshell ruling by the country’s top court last week.The finance ministry decision, which halts most new spending authorizations, followed a ruling by the constitutional court last week that blew a €60 billion hole in the government’s coffers. The government is now bracing for the potential of far wider financial implications stemming from the ruling that may limit its ability to draw money from a variety of special funds that have been established to circumvent the country’s debt brake, which restricts the federal deficit to 0.35 percent of GDP, except in times of emergency.In a letter to all ministries, State Secretary Werner Gatzer said the finance ministry is freezing spending “in order to avoid further upfront burdens on future financial years.” The step does not impact t...

Bruins player Milan Lucic appears in court on assault and battery charge, pleads not guilty

Published Tue, 05 Nov 2024 13:42:16 GMT

Boston Bruins player Milan Lucic appeared in court Tuesday morning where he was arraigned on a charge of assault and battery, following his arrest over the weekend.A not guilty plea was entered on the 35-year-old’s behalf as the prosecution laid out their case, reviewing a police report that described how officers were called to Lucic’s North End apartment on Saturday, Nov. 18, for what was described as an assault and battery incident around 1 a.m.The report detailed how Lucic’s wife had reached out to authorities, and during her call, said her husband had attempted to choke her. According to the report, officers met with her in the apartment’s lobby and learned that the incident occurred after, sometime during the night, Lucic had come home and could not find his cell phone.She said Lucic accused her of hiding the phone and demanded it back, and that when she told him she did not have it or know where it was, he grabbed her by the hai...