Trump transition signs agreement with Justice Department, paving the way for FBI background checks on Trump picks[Contribution] Korea begins journey toward becoming global science and technology hubustar 2022 。

WASHINGTON (AP) — The House on Wednesday passed a $895 billion measure that authorizes a 1% increase in defense spending this fiscal year and would give a double-digit pay raise to about half of the enlisted service members in the military. The bill is traditionally strongly bipartisan, but some Democratic lawmakers opposed the inclusion of a ban on transgender medical treatments for children of military members if such treatment could result in sterilization. The bill passed the House by a vote of 281-140 and will next move to the Senate, where lawmakers had sought a bigger boost in defense spending than the current measure allows. Lawmakers are touting the bill's 14.5% pay raise for junior enlisted service members and a 4.5% increase for others as key to improving the quality of life for those serving in the U.S. military. Those serving as junior enlisted personnel are in pay grades that generally track with their first enlistment term. Lawmakers said service member pay has failed to remain competitive with the private sector, forcing many military families to rely on food banks and government assistance programs to put food on the table. The bill also provides significant new resources for child care and housing. “No service member should have to live in squalid conditions and no military family should have to rely on food stamps to feed their children, but that's exactly what many of our service members are experiencing, especially the junior enlisted,” said Rep. Mike Rogers, R-Ala., chairman of the House Armed Services Committee. “This bill goes a long way to fixing that.” The bill sets key Pentagon policy that lawmakers will attempt to fund through a follow-up appropriations bill. The overall spending tracks the numbers established in a 2023 agreement that then-Speaker Kevin McCarthy reached with President Joe Biden to increase the nation’s borrowing authority and avoid a federal default in exchange for spending restraints. Many senators had wanted to increase defense spending some $25 billion above what was called for in that agreement, but those efforts failed. Sen. Roger Wicker, R-Miss., who is expected to serve as the next chairman of the Senate Armed Services Committee, said the overall spending level was a “tremendous loss for our national defense," though he agreed with many provisions within the bill. “We need to make a generational investment to deter the Axis of Aggressors. I will not cease work with my congressional colleagues, the Trump administration, and others until we achieve it,” Wicker said. House Republicans don't want to go above the McCarthy-Biden agreement for defense spending and are looking to go way below it for many non-defense programs. They are also focused on cultural issues. The bill prohibits funding for teaching critical race theory in the military and prohibits TRICARE health plans from covering gender dysphoria treatment for children under 18 if that treatment could result in sterilization. Rep. Adam Smith of Washington state, the ranking Democratic member of the House Armed Services Committee, said minors dealing with gender dysphoria is a "very real problem." He said the treatments available, including puberty blockers and hormone therapy, have proven effective at helping young people dealing with suicidal thoughts, anxiety and depression. “These treatments changed their lives and in many cases saved their lives,” Smith said. “And in this bill, we decided we're going to bar servicemembers' children from having access to that.” Smith said the number of minors in service member families receiving transgender medical care extends into the thousands. He could have supported a study asking medical experts to determine whether such treatments are too often used, but a ban on health insurance coverage went too far. He said Speaker Mike Johnson's office insisted upon the ban and said the provision “taints an otherwise excellent piece of legislation.” Rep. Chip Roy, R-Texas, called the ban a step in the right direction, saying, “I think these questions need to be pulled out of the debate of defense, so we can get back to the business of defending the United States of America without having to deal with social engineering debates.” Smith said he agrees with Roy that lawmakers should be focused on the military and not on cultural conflicts, “and yet, here it is in this bill.” Branden Marty, a Navy veteran who served for 13 years, said the loss of health coverage for transgender medical treatments could prompt some with valuable experience to leave the military, affecting national security because “we already struggle from a recruiting and retention standpoint.” He also said the bill could regularly force service members into difficult choices financially. “It will be tough for a lot of them because of out-of-pocket expenses, especially enlisted members who we know already struggle with food insecurity,” said Marty, the father of a transgender teenager. “They don’t get paid very much, so they’re going to be making a lot of choices on a day-to-day, tactical level.” Rep. Hakeem Jeffries, the House Democratic leader, said his team was not telling Democrats how to vote on the bill. “There's a lot of positive things in the National Defense Authorization Act that were negotiated in a bipartisan way, and there are some troubling provisions in a few areas as well,” Jeffries said. Overall, 81 Democrats ended up voting for the bill and 124 against it. On the Republican side, 200 voted for the bill and 16 against. “It’s disappointing to see 124 of my Democrat colleagues vote against our brave men and women in uniform over policies that have nothing to do with their intended mission,” Johnson said. The defense policy bill also looks to strengthen deterrence against China. It calls for investing $15.6 billion to build military capabilities in the Indo-Pacific region. The Biden administration had requested about $10 billion. On Israel, the bill, among other things, includes an expansion of U.S. joint military exercises with Israel and a prohibition on the Pentagon citing casualty data from Hamas. The defense policy bill is one of the final measures that lawmakers view as a must-pass before making way for a new Congress in January.High school girls basketball: New coach, new roles for North girls

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It's officially a wrap on the 2024 calendar year for the U.S. Women's National Team. The USWNT played its final match of the year on Tuesday, beating the Netherlands 2-1 . It was not the most complete performance from the USWNT, although the victory was a fitting end to a successful year for the gold medal champs. This was truly a game of two halves. The USWNT was outplayed by a wide margin in the first half. The Dutch took a lead in the 15th minute and could have easily added more. Alyssa Naeher, playing her final international match, was forced to make several saves from close range just to keep the Netherlands from scoring three or four goals in the opening 45 minutes. The Americans also got a fortuitous own goal in the 44th minute that was completely against the run of play but tied the game 1-1 at halftime. At halftime, USWNT coach Emma Hayes made two subs, altering the formation and tactics to help the Americans find their way. She made three more subs 20 minutes later that changed the game even more, allowing the U.S. to generate some chances moving forward. Ultimately, it was Lynn Williams scoring in the 71st minute to give the Americans an unlikely lead. With a little more help from Naeher, the U.S. was able to hold on for the victory. LYNN FOR THE LEAD 😍🇺🇸 The Gotham to Gotham connection comes good as Yazmeen Ryan finds Lynn Williams on the slide to put the USWNT 2-1 up in The Hague 🔥 pic.twitter.com/KVVOAv9tSj While ugly at times, Tuesday's comeback win says a lot about the USWNT. They were able to stay in the game mentally despite being dominated in the first half. Likewise, Hayes was able to push the right buttons with her second-half subs. As a team, this was not the best performance despite the positive result. The U.S. was out-shot 23 to five and failed to earn a corner kick while the Dutch totaled nine corners. However, there were a few individual performances strong enough to lead the USWNT to a win. Let's look at the player ratings for Tuesday's victory over the Netherlands. More: USWNT vs Netherlands timeline | Alyssa Naeher retires: Who takes over in goal for USWNT? Starters Alyssa Naeher (goalie): 9 This was a vintage performance for Naeher in her swan song . There wasn't much she could do on the early Dutch goal. After the USWNT went down 1-0, Naeher was able to keep them in the game with a series of strong saves throughout the rest of the first half. Without her, the U.S. could have easily trailed by multiple goals at halftime. After the U.S. took the lead, Naeher still had some work to do and made several big saves to secure a win in her final game with the USWNT. Today, USWNT icon Alyssa Naeher hangs up her national team gloves. 115 caps, 2 World Cup titles, an Olympic Gold & Bronze medal, & the only goalkeeper in women’s soccer history to achieve a shutout in a World Cup Final & an Olympic gold medal game. You are one of a kind! ❤️⭐🥲 pic.twitter.com/tLpBl8abB7 Jenna Nighswonger (left back): 3 It was a nightmare evening in The Hague for Nighswonger. From the start, she looked rusty after not being an automatic starter for Gotham FC late in the NWSL season. Nighswonger was subbed off at halftime after having a world of trouble defensively throughout the first 45 minutes. It seemed like every time the Dutch created a scoring chance in the first half, it came from the Nighswonger's side of the field. It was clear the Netherlands was purposefully going after Nighswonger and forcing her to defend, doing so with great success. The one time Nighswonger actually got forward, she was called for offside, which all but sums up a forgettable game for the USWNT's left back. Tierna Davidson (center back): 6 This was not Davidson's strongest performance. She played well for Gotham during the NWSL playoffs after missing time late in the season with an injury. But her first outing with the USWNT since the Olympics didn't go well. Davidson struggled to defend one-on-one at times, failing to stop some Dutch attacks throughout the first half. On the bright side, Davidson lofted in the ball that led to the own goal for the U.S. right before the half. She also played a little better in the second half after being moved to a wider position. Naomi Girma (center back): 7 It's hard to give Girma a glowing review with the Netherlands had so many good scoring opportunities that required Naeher to make saves. There was also some confusion while defending set pieces, which boils down to communication and organization, two things that are Girma's responsibility . Yet, she did put out plenty of fires, showing that she's a top-class center back. Emily Fox (right back): 7 Ideally, the USWNT would get Fox a little more involved in the attack. That was hard to do in this game, especially in the first half. Yet, Fox got the job done defensively, as the Netherlands rarely generated a serious scoring chance from her side of the field. Sam Coffey (midfield): 6.5 Coffey put in a decent shift, playing all 90 minutes in central midfield. Ultimately, she helped to break up play and preserve the 2-1 win. However, there were times in the first half when Coffey struggled with the physicality of the Dutch midfield and didn't do enough to help the USWNT grab a foothold in the game sooner. Korbin Albert (midfield): 6 Albert had an uneven performance at best. There were moments when she made a good run out of the midfield. It's also hard to fault her work rate until being subbed off in the 66th minute. However, she didn't do enough to help the U.S. win the battle in the midfield during the first half and slow down the Dutch attack. Albert was also responsible for marking Veerle Buurman when the Dutch scored off a corner kick in the first half. Lindsey Horan (midfield): 6.5 There wasn't much Horan could do before being subbed off in the middle of the second half. She tried to play high, almost like a second striker at times. We saw a lot of Horan in that role during the October friendlies. But since it took the U.S. so long to find a foothold in this game, Horan's chances were few and far between. Rose Lavelle (forward): 6.5 Lavella started in a slightly different role against the Netherlands, playing more on the wing than in the midfield. Of course, since the USWNT couldn't sustain possession, Lavelle didn't get much of a chance to work her magic. She spent more time defending than trying to unlock the Dutch defense, leading to an uninspired performance. Yazmeen Ryan (forward): 7.5 It was a frustrating first half for Ryan, who saw little of the ball. She spent a lot of time defending and picked up a yellow card after giving the ball away in her own half. However, after Hayes made a few subs midway through the second half, things picked up for Ryan . She was able to find a little more space on the wing and ended up making a beautiful pass to set up the game-winning goal by Lynn Williams Jaedyn Shaw (forward): 6 Shaw started this game as the central striker and didn't look particularly comfortable in that role before being subbed off at halftime. It didn't help that the Americans rarely had sustained possession in the first half. Shaw frequently dropped deep into the midfield, almost too deep for someone playing as the lead striker. She had a couple of bright moments here and there but continues to struggle to find a role under Hayes. Substitutes Emily Sonnett (center back): 7.5 Putting Sonnett on at halftime was a stroke of genius by Hayes. She helped to solidify the back line, providing the leadership and energy needed to win a game when the team didn't play its best. Lynn Williams (forward): 8 Subbing on Williams at halftime was arguably the best decision Hayes made all game. She is far more comfortable in the No. 9 position than Shaw was during the first half. More importantly, Williams put the ball in the back of the net when she got her chance. Lily Yohannes (midfield): This was the first time Yohannes has played for the USWNT since pledging to represent the U.S. moving forward rather than playing for the Netherlands. As a result, the Dutch fans booed her every time she touched the ball, which had to be tough on a 17-year-old. However, she handled the moment well and was a positive force in the U.S. midfield for the final 25 minutes. Hal Hershfelt (midfield): 6.5 Putting Hershfelt in the midfield midway through the second half played a role in helping the U.S. secure the win after taking a 2-1 lead. She didn't exactly put her stamp on the game in her brief stint. But her impact as a second-half sub shouldn't be overlooked, as she surely added some energy and athleticism to the midfield. Alyssa Thompson (forward): 7 Williams will get the headlines for scoring the game winner while Ryan gets credit for the assist. However, Thompson also shined in her short time on the field. She made a couple of nice runs on the left side, using her speed to make the Dutch defense uncomfortable. Thompson nearly added a third goal late in the game and might be a little disappointed not to add a third tally for the USWNT. Ally Sentnor (forward): 6.5 This was a mere cameo for Sentnor in just her second cap. In a short stint, she looked bright, making a couple of good runs and taking a long-distance shot on goal. With a little more time, she might have made more of an impact. But Sentnor certainly did enough to earn more opportunities with the USWNT in 2025.

Recent bad news gives forgotten Cowboys starter a chance it didn't seem he'd get againAP Trending SummaryBrief at 5:56 p.m. EST

ROME (AP) — Robert Lewandowski joined Cristiano Ronaldo and Lionel Messi as the only players in Champions League history with 100 or more goals. But Erling Haaland is on a faster pace than anyone by boosting his total to 46 goals at age 24 on Tuesday. Still, Haaland's brace wasn't enough for Manchester City in a 3-3 draw with Feyenoord that extended the Premier League champion's winless streak to six matches. Lewandowski’s early penalty kick started Barcelona off to a 3-0 win over previously unbeaten Brest to move into second place in the new single-league format. The Poland striker added goal No. 101 in second-half stoppage time. Ronaldo leads the all-time scoring list with 140 goals and Messi is next with 129. But neither Ronaldo nor Messi play in the Champions League anymore following moves to Saudi Arabia and the United States, respectively. “It’s a nice number,” Lewandowski said. “In the past I didn’t think I could score more than 100 goals in the Champions League. I’m in good company alongside Cristiano and Messi.” The 36-year-old Lewandowski required 125 matches to reach the century mark, two more than Messi (123) and 12 fewer than Ronaldo (137). Barcelona also got a second-half score from Dani Olmo. The top eight finishers in the standings advance directly to the round of 16 in March. Teams ranked ninth to 24th go into a knockout playoffs round in February, while the bottom 12 teams are eliminated. Haaland has 46 goals in 44 games Haaland converted a first-half penalty to eclipse Messi as the youngest player to reach 45 goals then scored City's third after the break to raise his total to 46 goals in 44 games. Ilkay Gundogan had City's second. But then Feyenoord struck back with goals from Anis Hadj Moussa, Santiago Gimenez and David Hancko. Inter leads standings and hasn't conceded a goal Inter Milan beat Leipzig 1-0 with an own goal to move atop the standings with 13 points, one more than Barcelona and Liverpool, which faces Real Madrid on Wednesday. The Serie A champion is the only club that hasn't conceded a goal. Bayern Munich beat Paris Saint-Germain 1-0 — the same score from the 2020 final between the two teams. PSG ended with 10 men and remained in the elimination zone. The French powerhouse has struggled in Europe after Kylian Mbappe’s move to Real Madrid. Kim Min-jae’s first-half header was enough for Bayern, especially after Ousmane Dembelé was sent off in the 56th with his second yellow. Atalanta moved within two points of the lead with a 6-1 win at Young Boys. Charles De Ketelaere scored two and assisted on three other goals for Atalanta. Also, Arsenal kept red-hot striker Viktor Gyokeres quiet in a 5-1 win over Sporting Lisbon; and Germany star Florian Wirtz scored two goals and was involved in two more as Bayer Leverkusen boosted its chances of finishing in the top eight with a 5-0 rout of Salzburg. AC Milan follows up win over Real Madrid with another victory AC Milan followed up its win at Real Madrid with a 3-2 victory at last-place Slovan Bratislava in an early match. Christian Pulisic put the seven-time champion ahead midway through the first half by finishing off a counterattack. Then Rafael Leao restored the Rossoneri’s advantage after Tigran Barseghyan had equalized for Bratislava and Tammy Abraham quickly added another. Nino Marcelli scored with a long-range strike in the 88th for Bratislava, which ended with 10 men. Bratislava has lost all five of its matches. Alvarez and Griezmann lead Atletico to 6-0 rout Argentina World Cup winner Julian Alvarez scored twice and Atletico Madrid routed Sparta Prague 6-0 in the other early game. Alvarez scored with a free kick 15 minutes in and Marcos Llorente added a long-range strike before the break. Alvarez finished off a counterattack early in the second half after being set up by substitute Antoine Griezmann, who then marked his 100th Champions League game by getting on the scoresheet himself. Angel Correa added a late brace for Atletico, which earned its biggest away win in Europe. Atletico beat Paris Saint-Germain in the previous round and extended its winning streak across all competitions to six matches. ___ AP soccer: https://apnews.com/hub/soccer Andrew Dampf, The Associated PressNEW YORK , Dec. 12, 2024 /PRNewswire/ -- Report on how AI is redefining market landscape - The truck market in vietnam size is estimated to grow by USD 1.50 billion from 2024 to 2028, according to Technavio. The market is estimated to grow at a CAGR of 8.05% during the forecast period. The report provides a comprehensive forecast of key segments below- Segmentation Overview Get a glance at the market contribution of rest of the segments - Download a FREE Sample Report in minutes! 1.1 Fastest growing segment: Light-duty trucks, which include compact trucks, pickup trucks, and passenger and cargo vans, are essential commercial vehicles in Vietnam , particularly for intra-city and inter-city transport. These trucks, with a gross vehicle weight under 10 tons, are widely used due to their maneuverability in space-strapped urban areas. In Vietnam , the rising traffic congestion and entry restrictions for heavier vehicles have led to increased adoption of light-duty trucks. The home delivery sector's growth is another significant factor driving demand. Dealers serve as the primary distribution channel for these trucks, and vans are the most popular choice for goods distribution from central hubs. Economic uncertainty and competition pressure compel fleet owners to minimize operational costs, further fueling demand for light-duty trucks. Consequently, the less than 10-ton segment is expected to grow in the Vietnamese truck market during the forecast period. Analyst Review Trucks are essential vehicles in Vietnam's thriving economy, serving various sectors such as logistics, construction, and agriculture. The market for trucks in Vietnam is vast, with a focus on pickup trucks, warehouses, and retail outlets catering to consumers' needs. The demand for trucks is driven by the country's extensive road network and the transportation of goods, including cargo and fuel. Manufacturers prioritize fuel efficiency, safety, and electrification in their designs, addressing the increasing concerns of consumers and governments. Powerful engines and suspension systems are also essential features for handling the rough terrain and heavy loads common in Vietnam . The logistics and e-commerce sectors are significant consumers of trucks, requiring efficient and reliable vehicles for the timely delivery of goods. Trailer tracking and cargo management systems are essential for optimizing supply chain operations and reducing vehicle emissions. Safety is a top priority, with vehicle safety regulations becoming increasingly stringent to protect drivers and other road users. The future of the truck market in Vietnam lies in the adoption of advanced technologies and the development of sustainable transportation solutions. Market Overview The Trucks Market in Vietnam is witnessing significant growth due to the increasing demand for transportation of goods, particularly in sectors like construction, mining, agriculture, and logistics. The market caters to various types of trucks, including heavy duty, medium duty, and light duty, with tonnage capacities ranging from a few tons to several tons. Consumers, fleet owners, logistics companies, and e-commerce sectors are the primary buyers of trucks in Vietnam . The market is also witnessing a shift towards electric vehicles (EVs) and hydrogen-based solutions as part of the global move towards carbon neutrality and sustainability. Truck manufacturers are focusing on fuel efficiency, safety, electrification, and telematics to meet the evolving needs of consumers and businesses. These solutions include GPS tracking, connectivity solutions, trailer tracking, and maintenance cost optimization. The logistics industry is undergoing a digital transformation, with the adoption of AI and IoT for fleet management, route optimization, and real-time cargo tracking. Emission norms and vehicle safety regulations are also driving the market, with manufacturers investing in advanced suspension systems, energy storage, and battery design. The market is expected to grow further with the expansion of infrastructure projects, such as highways, bridges, ports, and cold chain logistics, and the increasing popularity of e-commerce and hyperlocal delivery services. The use of EVs, hydrogen-based vehicles, and alternative fuels is also gaining momentum, with companies like Mullen Automotive and OEMs investing in the development of electric heavy-duty trucks. To understand more about this market- Download a FREE Sample Report in minutes! 1 Executive Summary 2 Market Landscape 3 Market Sizing 4 Historic Market Size 5 Five Forces Analysis 6 Market Segmentation 7 Customer Landscape 8 Geographic Landscape 9 Drivers, Challenges, and Trends 10 Venodr Landscape 11 Vendor Analysis 12 Appendix About Technavio Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios. Contacts Technavio Research Jesse Maida Media & Marketing Executive US: +1 844 364 1100 UK: +44 203 893 3200 Email: media@technavio.com Website: www.technavio.com/ View original content to download multimedia: https://www.prnewswire.com/news-releases/vietnam-truck-market-to-grow-by-usd-1-5-billion-from-2023-2028--report-on-ais-impact-on-market-trends---technavio-302328820.html SOURCE Technavio

head coach Arne Slot has demanded more from his team after they battled to a in the Champions League and said he was "far from happy" with the performance. Liverpool looked some way from their best at the Estadi Montilivi, but secured the win thanks to a penalty in the second half after was deemed to have fouled inside the area. The victory means Liverpool continue their perfect record in Europe, having won all six of their Champions League games this term, but Slot insisted performances must improve if his team have ambitions of going all the way in the competition. Speaking to TNT Sports after the game, the Liverpool boss said: "If you ask me about all the six games I am really pleased with all the results and the performances in the five games. "I am far from pleased about the performance tonight. Especially two things. If you play against a team that has such a good idea about football, knows how to bring the ball out like teams we have played recently in and , you need to be so intense. "But if you are waiting to press and are so easily outplayed, this team can cause you problems. This is what they showed throughout Champions League except [against] PSV. "I feel sorry for them because they deserve more than three points. We have an incredible goalkeeper. When we lost the ball we were not aggressive enough. Hardly any control at all of the game. Maybe the second half was a bit better." One major positive for Liverpool was the return of Alisson to the starting lineup, with the goalkeeper having been sidelined since Oct. 5 with a hamstring injury. The Brazilian made a string of saves to preserve Liverpool's fifth clean sheet in Europe this season, and Slot was quick to dub him "the best goalkeeper in the world" after the match. "He definitely didn't look like he'd been away," Slot said. "I said as a bit of a joke the players wanted to test his fitness today [giving up chances]. "He showed today what I said so many times that he's our first goalkeeper. That's nothing to do with Caoimhin [Kelleher], who did well, but [Alisson] showed today he's one of the best, in my opinion, the best goalkeeper in the world. Let's hope he can keep these performances going and stay fit." Slot also defended striker , who spurned a number of chances against and has just three goals in 19 appearances for Liverpool this term. Asked whether the Uruguayan is low on confidence, Slot said: "What I can agree on is that he missed a few chances; then it is a question if he's low on confidence. "I think every striker has a moment when everything goes in and then a period where try so hard and don't score. But the good thing is we have many players who can score. He was a threat but unfortunately he couldn't score." Regardless of the results the rest of the day, Liverpool is guaranteed to finish the sixth of eight league phase rounds in first place on 18 points. The final two rounds will be played at the start of 2025. ESPN's Sam Marsden contributed to this story.

While the rest of the Notre Dame community figures out whether it's worth paying four figures for a ticket to the College Football Playoff first-round home game against Indiana, the men's basketball team continues to figure out how to survive without Markus Burton. Notre Dame (5-5) hosts its next-to-last nonconference game Wednesday night against Dartmouth (4-4), which plays its sixth contest of a seven-game road trip. The Fighting Irish took a promising step -- and snapped a five-game losing streak -- on Saturday by edging Syracuse 69-64 in their ACC opener. "We needed to be in a close game and we needed to win a close game so our guys can build some belief back," head coach Micah Shrewsberry said. "We can't take any steps back on Wednesday." Without Burton -- the stat sheet-stuffing sophomore point guard who injured the medial collateral ligament in his knee Nov. 26 against Rutgers -- the Irish are struggling to find someone to run the offense, as evidenced by their seven assists versus 15 turnovers against Syracuse. At the same time, players are filling the scoring void. Braeden Shrewsberry poured in a career-high-tying 25 points versus the Orange while hitting 6 of 11 3-point attempts. Tae Davis averaged 12.4 points and 7.2 shots per game when Burton was healthy, but he has upped his mean production to 16.6 points and 12.2 shots in the past five games. Micah Shrewsberry, though, prefers to measure progress on a possession-by-possession basis. "Just the toughness," he said. "There have been times when we haven't gotten the key stop. We haven't gotten the bucket when we quite need it. It gets deflating sometimes." Dartmouth knows that feeling. On Sunday, the Big Green took a one-point lead with 4:03 left in overtime at UIC -- and then failed to score on their final six possessions to suffer a 69-68 loss. The Big Green, who haven't posted a winning season since 1998-99, believe whole-heartedly in launching 3-pointers as they take 48 percent of their shots from behind the arc. Senior Cade Haskins (13.6 ppg) has hit a team-high 28 of 68 3-pointers this season, though fellow senior Ryan Cornish stacks up as the team's top scorer (14.3 ppg), passer (3.0 assists per game) and defender (2.3 steals per game). In its only previous game against a power-conference opponent, Dartmouth upset Boston College 88-83 on Nov. 29. --Field Level Media

Shocking secret of do-gooder who raised over $1million for a homeless charity By KELLY GARINO FOR DAILYMAIL.COM Published: 22:21, 12 December 2024 | Updated: 22:24, 12 December 2024 e-mail 52 View comments An Alabama woman secretly pocketed $1 million of donations that she raised for a homeless charity that didn't actually exist. Amy Dianne Elmore Downs, 57, of Athens, was arrested after a three-year investigation discovered that she solicited a substantial amount of money from people all around the world for a made-up charity aiming to help victims of domestic violence and homelessness. 'Since 2021, Downs has deposited nearly one million dollars into her personal bank accounts under the guise of charitable donations ,' the Limestone County Sheriff's Office said in a press release on Wednesday. Downs, who is better known by her since-deleted TikTok account, Slot_7.0 or Slotmachinequeen, used her social media popularity as a way to encourage her followers to send funds through her own personal finance apps. Over the course of three years, the 'do-gooder' received contributions through her PayPal , CashApp and Venmo accounts under the pretense that the money would be going to a charitable cause . She was even nominated for an award this past year that highlighted influencers who use their platform for good. 'My name is Amy, and my handle is slot 7.0,' she said during a red carpet interview with KNEKT.tv, WAFF News reported. 'I do DV help for immediate danger DV victims and homeless,' she added. Amy Dianne Elmore Downs, 57, of Athens, Alabama, secretly pocketed $1 million of donations that she raised for a homeless charity that didn't actually exist Downs, who is also a TikTok personality, used her social media popularity as a way to encourage her followers to send funds through her own personal finance apps She was even nominated for an award this past year that highlighted influencers who use their platform for good where she spoke about her 'charity' during an interview But underneath her 'good Samaritan' façade was just a years-long scam. The investigation unveiled the fact that Downs had not reported any employment since 2020 - despite large sums of money being deposited into her accounts. Additionally, investigators found no legitimate charity organization registered under her name or with the Alabama Attorney General's Office. Cherrelle Lock, the director of DV outreach at Crisis Services of North Alabama, expressed shock upon hearing the news - noting how her crisis center would never ask for donations to be made directly through a personal app. 'It's disheartening,' Lock told WAFF. 'It's unbelievable to know something like that is happening in our community. Because there are individuals in our community that could really benefit from that.' 'For those individuals in our community that support us, we make sure that we know where that funding is going toward,' she added. Downs was ultimately arrested and booked into the Limestone County Jail on seven counts of first-degree charitable fraud and three counts of tax evasion. She was placed on a bond of $1,125,000 - but she has since bonded out as of Tuesday evening. The sheriff's office urged anyone with information on Downs' fraudulent activity to come forward as the investigation is still in motion. PayPal Venmo TikTok Share or comment on this article: Shocking secret of do-gooder who raised over $1million for a homeless charity e-mail Add comment

Concord City Council approves another round of retention bonuses for police, nearly $1 million in last yearFIRST NINE MONTHS OF 2024: HIGHLIGHTS TOTAL NET SALES WERE €243.9 MILLION, IN LINE WITH THE SAME PERIOD IN 2023 (-0.3%). BRANDED SALES WERE €221.2 MILLION, UP 0.3% FROM 2023 SAME PERIOD AND UP 3.1% FROM 2019 SAME PERIOD. BRANDED SALES WERE 93.0% OF TOTAL SALES, COMPARED TO 92.6% IN THE SAME PERIOD OF 2023 AND 78.5% IN THE SAME PERIOD OF 2019. DOS SALES WERE €57.4 MILLION, UP 6.3% FROM 2023 AND UP 20.8% FROM 2019 SAME PERIODS. 2024 GROWTH WAS DRIVEN BY A 22.3% SALES INCREASE FROM DOS IN THE U.S, WHERE WE OPENED 1 ADDITIONAL STORE IN DENVER. DURING THE FIRST 9 MONTHS OF 2024, WE CLOSED TWO NON-PERFORMING NATUZZI ITALIA STORES, ONE IN SPAIN AND ONE IN SWITZERLAND, AS PART OF OUR ONGOING EFFORT TO PROGRESSIVELY IMPROVE THE QUALITY OF OUR RETAIL. AS PART OF OUR TRANSFORMATION, DURING THE FIRST 9 MONTHS OF 2024, WE ACCELERATED OUR RESTRUCTURING WHICH AFFECTED P&L RESULTS WITH (€4.8) MILLION OF ONE-OFF SEVERANCE COSTS: - (€4.1) MILLION ACCRUED IN COST OF SALES; - (€0.7) MILLION ACCRUED IN SELLING AND ADMINISTRATIVE EXPENSES. DURING THE FIRST 9 MONTHS OF THE YEAR, 538 PERSONS EXITED OUR GROUP. THESE EXITS WERE PARTIALLY OFFSET BY HIRES IN STRATEGIC AREAS SUCH AS RETAIL, MARKETING AND MERCHANDISING. FROM 2021 TO SEPTEMBER 2024, WE HAD A NET REDUCTION OF 1110 PERSONS, EQUIVALENT TO A ~26% OF TOTAL. IN THE FIRST NINE MONTHS OF 2024, GROSS MARGIN WAS 35.8%, COMPARED TO 35.8% IN THE FIRST NINE MONTHS OF 2023 AND 29.0% IN THE FIRST NINE MONTHS OF 2019. EXCLUDING (€4.1) MILLION OF ONE-OFF SEVERANCE COSTS, GROSS MARGIN WOULD HAVE BEEN 37.4%, WHICH COMPARES TO 36.3% IN 2023 FIRST NINE MONTHS AND 30.0% IN 2019 FIRST NINE MONTHS. IN THE FIRST NINE MONTHS OF 2024, WE HAD AN OPERATING LOSS OF (€3.6) MILLION, COMPARED TO AN OPERATING LOSS OF (€2.2) MILLION IN 2023 FIRST NINE MONTHS AND AN OPERATING LOSS OF (€19.5) MILLION 2019 FIRST NINE MONTHS. EXCLUDING (€4.8) MILLION OF ONE-OFF SEVERANCE COSTS, WE WOULD HAVE REPORTED AN OPERATING PROFIT OF €1.2 MILLION, WHICH COMPARES TO AN OPERATING LOSS OF (€0.7) MILLION IN 2023 FIRST NINE MONTHS AND TO AN OPERATING LOSS OF (€16.1) MILLION IN 2019 FIRST NINE MONTHS. NET FINANCE COSTS WERE (€7.4) MILLION, COMPARED TO (€5.6) MILLION IN 2023 AND (€7.7) MILLION IN 2019 SAME PERIOD, MAINLY AS A CONSEQUENCE OF HIGHER INTEREST EXPENSES ON LEASE CONTRACTS AND THIRD-PARTY FINANCING, AS WELL AS UNFAVORABLE CURRENCY MOVEMENTS ON TRADE PAYABLES AND RECEIVABLES. DURING THE FIRST 9 MONTHS OF 2024, WE INVESTED €5.4 MILLION, PRIMARILY TO UPGRADE OUR ITALIAN FACTORIES AND FOR THE DOS LOCATED IN THE U.S. AND ITALY. WE CONTINUE THE DIVESTMENT PROGRAM OF NON-STRATEGIC ASSETS WE ANNOUNCED: - WE RECEIVED $3.8 MILLION IN OCTOBER 2024 AS A FIRST INSTALLMENT FOR THE SALE OF A BUILDING LOCATED IN HIGH POINT, NORTH CAROLINA. - WE SIGNED A PRELIMINARY AGREEMENT FOR THE SALE OF A LAND IN ROMANIA FOR AN EXPECTED PRICE BETWEEN €2.9 AND €3.1 MILLION. - AS OF SEPTEMBER 30, 2024, WE HELD €17.1 MILLION IN CASH, FROM €33.6 MILLION AS OF DECEMBER 31, 2023. IN PARTICULAR, THE DIFFERENCE IN CASH IS DETERMINED AS FOLLOWS: - NET CASH USED IN OPERATING ACTIVITIES (€5.1) MILLION. OF THIS, (€6.0) MILLION TO REDUCE WORKFORCE; - NET CASH USED IN INVESTING ACTIVITIES (€5.4) MILLION; - NET CASH USED IN FINANCING ACTIVITIES (€7.1) MILLION; - EFFECT OF MOVEMENTS EXCHANGE RATES ON CASH (€0.4) MILLION; - DIFFERENCE IN BANK-OVERDRAFT REPAYABLE ON DEMAND €1.5 MILLION. 3Q 2024: HIGHLIGHTS TOTAL NET SALES WERE €75.0 MILLION, IN LINE WITH 3Q 2023 (+0.1%). BRANDED SALES WERE €68.8 MILLION, UP 0.3% FROM 3Q 2023 AND UP 4.6% FROM 3Q 2019. BRANDED SALES WERE 93.7% OF TOTAL SALES, COMPARED TO 93.9% IN 3Q 2023 AND 78.6% IN 3Q 2019. DOS SALES WERE €16.8 MILLION, DOWN 1.4% FROM €17.1 MILLION IN 3Q 2023 AND UP 25.7% FROM €13.4 MILLION IN 3Q 2019. AS PART OF OUR TRANSFORMATION, DURING 3Q 2024, WE ACCELERATED OUR RESTRUCTURING WHICH AFFECTED P&L RESULTS WITH (€3.4) MILLION OF ONE-OFF SEVERANCE COSTS: - (€2.9) MILLION ACCRUED IN COST OF SALES; - (€0.5) MILLION ACCRUED IN SELLING AND ADMINISTRATIVE EXPENSES. IN 3Q 2024, 276 PERSONS EXITED OUR GROUP. THESE EXITS ARE MAINLY DUE TO THE CLOSING OF OUR SHANGHAI PLANT, WHOSE PRODUCTION WAS MOVED TO QUANJIAO. IN 3Q 2024, GROSS MARGIN WAS 31.8%, COMPARED TO 35.4% IN 3Q 2023 AND 28.7% IN 3Q 2019. EXCLUDING (€2.9) MILLION OF ONE-OFF SEVERANCE COSTS, GROSS MARGIN WOULD HAVE BEEN 35.7%, WHICH COMPARES TO 35.5% IN 3Q 2023 AND 30.5% IN 3Q 2019. IN 3Q 2024, WE HAD AN OPERATING LOSS OF (€3.8) MILLION, COMPARED TO A LOSS OF (€1.4) MILLION IN 3Q 2023 AND A LOSS OF (€8.7) MILLION IN 3Q 2019. EXCLUDING (€3.4) MILLION OF ONE-OFF SEVERANCE COSTS, WE WOULD HAVE REPORTED AN OPERATING LOSS OF (€0.4) MILLION, WHICH COMPARES TO AN OPERATING LOSS OF (€1.1) MILLION IN 3Q 2023 AND AN OPERATING LOSS OF (€6.8) MILLION IN 3Q 2019. NET FINANCE COSTS WERE (€3.3) MILLION, COMPARED TO NET FINANCE COSTS OF (€1.4) MILLION IN 3Q 2023 AND (€3.1) MILLION IN 3Q 2019, MAINLY AS A CONSEQUENCE OF HIGHER INTEREST EXPENSES ON LEASE CONTRACTS AND THIRD-PARTY FINANCING, AS WELL AS UNFAVORABLE CURRENCY MOVEMENTS ON TRADE PAYABLES AND RECEIVABLES. DURING 3Q 2024, WE INVESTED €1.7 MILLION, PRIMARILY TO UPGRADE OUR ITALIAN FACTORIES AND FOR THE DOS LOCATED IN THE U.S. AND ITALY. *** Natuzzi S.p.A. NTZ ("we", "Natuzzi" or the "Company" and, together with its subsidiaries, the "Group"), one of the most renowned brands in the production and distribution of design and luxury furniture, today reported its unaudited financial information for the first nine months and third quarter ended September 30, 2024. Pasquale Natuzzi, Executive Chairman of the Group, commented: " We are living in a dual-speed reality. On one hand, our performance reflects the ongoing challenges posed by the persistent economic crisis. On the other hand, we are seeing growing evidence of the strength of our long-term Brand/Retail project, which continues to gain momentum, paving the conditions to capture the full potential of our Brands. On November 12, I had the privilege of inaugurating the Natuzzi Harmony Residences, a 110,000-square-feet, 9-floor building with 50 apartments, located in a prestigious area in Dubai. For the first time, we have led the whole architectural and creative direction both for the exterior and interior design, resulting in a project which is a living tribute to our Brand DNA. This initiative is a clear testament that our Brand enjoys global recognition and that we completed our evolution into a lifestyle brand. We also continue to innovate and lead where our brand has its origins. In October, at the High Point Market, we unveiled our 'Re-imagined Gallery' concept — an innovative format designed to strengthen the coherence of the Natuzzi brand representation and improve commercial performance with our distribution partners. The 'Re-imagined Gallery' has since become our global standard for the brand's presence in multi-brand retailers. Along with our global retail format, it ensures consistent brand representation across markets and channels. Thanks to these efforts, we are increasingly presenting our collection in a unified and inspiring way across our 678 stores and 628 galleries worldwide. These results testify that Natuzzi is one of the few global design and high-end furniture brands. They also reinforce my belief that, moving forward, the positive impact of our strategic initiatives will effectively counterbalance market headwinds, positioning us for a prosperous future." Antonio Achille, CEO of the Group, commented: " Our sales during the first nine months of 2024 have been in line with the previous year, despite challenging conditions that continued to impact not only the furnishings sector but also the broader durable and consumer goods industries. This was achieved, despite a soft third quarter, which was significantly below the year's average, thereby affecting deliveries in August and September. In this regard, we need to remember the cycle of our business innovation. For instance, the merchandising and retail initiatives for Natuzzi Italia, introduced during April's Milan Design Week, reached the market only by late September. This was reflected in Natuzzi Italia's delivered sales for the first nine months, which were 0.9% lower compared to the same period in 2023. Natuzzi Italia performance improved in the last two months, effectively closing the gap with 2023 levels. Looking ahead, the focus for Natuzzi Italia will remain on the consistent rollout of the Brand/Retail/Marketing strategy, with a particular emphasis on priority markets, such as U.S., China, UK, Spain and Italy. Natuzzi Editions, distributed in Italy under the "Divani&Divani by Natuzzi" brand, has reported overall revenue slightly up compared to the previous year (+1.1%). We are actively engaging customers through targeted global initiatives, such as the "Re-imagined gallery" project, aimed at building a stronger foundation to reinforce this positive momentum. We remain confident that our brands and retail strategy are poised for significant growth and remain committed to executing the Company's long-term plan: 1) Improve the quality of our distribution to accelerate our Brand journey. Retail . The Group continues to make progresses in its transformation into a retail-branded company. Natuzzi collections are sold globally in 678 stores, of which 54 free standing DOS managed directly by the Group, 19 DOS managed by our JV in China, 3 DOS in partnership in the U.S. and 602 franchised stores. Our DOS sales increased by 6.3% compared to the first nine months of 2023, with U.S.-based DOS showing a growth of 22.3% over the same period also supported by the 4 DOS opened in 2023 (in San Diego, Manhasset, Houston, Atlanta) and the new Denver store opened in September 2024. Our North American retail network now includes 22 Natuzzi Italia stores (18 of which are directly operated and 4 operated by franchise partners) and 10 Natuzzi Editions stores, comprising 1 DOS, 3 stores operated in joint venture with a local partner and 6 franchise stores. Re-imagined Gallery. Natuzzi has redefined its wholesale shop-in-shop format resulting in an innovative concept designed to support independent retailers to properly represent the distinctiveness of our brand in their multi-brand environment, while improving their sell-out performances. We are witnessing a strong interest from both current and prospective partners. Since the global launch of this re-imagined Gallery Concept, Natuzzi has received proposals for 142 projects, including new openings and refits, which will be implemented starting from 1Q 2025. Reimagined Gallery program is also enabling us to re-enter into key European markets. In Germany, we recently si g ned a partnership with a leading furniture retailer, which resulted in the opening of 24 new Natuzzi Editions galleries. 2) Foster new market opportunities: Trade and Contract. I am particularly proud and thankful to our team for the progress made by the newly established division. 'Natuzzi Harmony Residences' in Dubai marks a transformative milestone for our business, reflecting our evolution and ambitions. It is a true testament to the power of the Natuzzi Italia brand, as it represents our first venture into designing and branding an entire residential building. This achievement reaffirms that establishing our dedicated Trade & Contract division was the right decision, enabling us to fully leverage Natuzzi's assets and expertise while setting distinct growth and profitability targets. 3) Enhance margins. Excluding €4.1 million of one-off severance costs, gross margin would have reached 37.4% in the first nine months of 2024, which compares to a gross margin of 36.3% in 2023 same period and 30.0% in 2019 same period. The gross margin was affected by the weak order flow during 3Q 2024, which negatively weighed on deliveries in August and September, resulting in a less efficient absorption of fixed costs for the period. 4) Execute our restructuring program. We remain committed to optimizing our operating model and reducing costs across factories and offices in Italy and abroad. In the first nine months of 2024, 538 employees (of which 276 in the third quarter) exited the Group, partially offset by strategic hires in retail, advertising, and merchandising. These reductions mainly involved factory workers in Romania, China, and Italy, as well as employees at the Group level. Since the beginning of 2021, we have achieved a net reduction of 1,110 positions—a 26% decrease. This reduction is part of our strategy of transitioning Natuzzi from a volume-driven to a value-driven organization. This shift requires a leaner workforce, new competencies, and an evolved approach to human resources and organization. We remain committed to implementing this plan ethically and in full compliance with the laws. As restructuring progresses, our streamlined model positions us to unlock greater value when sales return to historical levels. 5) Production simplification and efficiency improvement . We continue to conduct a comprehensive review of the Group's industrial operations to simplify processes, reduce working capital and drive further efficiencies. Our efforts to optimize the footprint of our Asian operations are progressing as planned. In 3Q 2024 we completed the closing of our historical factory in Shanghai, shifting the production to the new plant located in Quanjiao, Anhui Province, China. This new plant, which will serve exclusively the Chinese market, offers industrial and transformation costs which are approximately 30% lower compared to the Shanghai plant. 6) Divest non-strategic resources The Company continues to make progress in its strategy of divesting non-strategic assets. The sale of the building in High Point, NC, is proceeding as planned, with $3.8 million received in October. Additionally, in November, we signed a preliminary agreement for the sale of a land adjacent to our factory in Romania. The final price is expected to range between €2.9 million and €3.1 million. The transaction is anticipated to close by mid-2025, pending customary approvals and processes with the local municipality. The Company plans to use the net proceeds from the sale of non-strategic assets to fund restructuring initiatives and expand its DOS network, with a particular focus on the U.S. market. The challenging market continues to delay the full realization of benefits from our retail expansion and restructuring efforts. We remain dedicated to enhancing our brand-retail value proposition while steadily reducing the Group's fixed cost base." *** 2024 FIRST NINE MONTHS CONSOLIDATED REVENUE Consolidated revenue for the first nine months of 2024 amounted to €243.9 million, compared to €244.5 million in 2023 same period. 2024 performance was impacted by ongoing macroeconomic, geopolitical, and industry-specific challenges, which continued to dampen consumer spending capacity and delay purchases of durable goods. Excluding "other sales" of €6.1 million, 2024 invoiced sales from upholstered and other home furnishings products amounted to €237.8 million, compared to €238.1 million in 2023 same period. Revenues from upholstered and other home furnishings products are hereafter described according to the main dimensions of the Group's business: A: Branded/Unbranded Business B: Key Markets C: Distribution A. Branded/Unbranded business The Group operates in the branded business (with Natuzzi Italia , Natuzzi Editions and Divani&Divani by Natuzzi ) and unbranded business, the latter with collections dedicated to large-scale distribution. A1. Branded business . Within the branded business, Natuzzi is pursuing a dual-brand strategy: i) Natuzzi Italia , our luxury furniture brand, offers products entirely designed and manufactured in Italy and targets an affluent and more sophisticated global consumer with a highly inspirational collection that is largely the same across all our global stores to best represent our Brand. Natuzzi Italia products are almost exclusively sold in mono-brand stores (directly operated or franchises). ii) Natuzzi Editions , our contemporary collection, offers products entirely designed in Italy and produced in different plants strategically located to best serve individual markets (mainly China, Romania and Brazil). Natuzzi Editions products are distributed in Italy under the brand " Divani&Divani by Natuzzi", which is manufactured in Italy to shorten the lead time to serve the Italian market where the brand is distributed. The store merchandising of Natuzzi Editions, starting from a common collection, is tailored to best fit the opportunities of each market. The Natuzzi Editions products are sold primarily through galleries and selected mono-brand franchise stores. In 2024, Natuzzi's branded invoiced sales amounted to €221.2 million, compared to €220.6 million in 2023 same period. The following is the contribution of each Brand in terms of invoiced sales for the first nine months of 2024: ─ Natuzzi Italia invoiced sales amounted to €91.9 million, compared to €92.7 million in 2023 same period. ─ Natuzzi Editions invoiced sales (including invoiced sales from " Divani&Divani by Natuzzi" ) amounted to €129.3 million, compared to €127.9 million in 2023 same period. Specifically, Natuzzi Editions invoiced sales were €102.6 million, compared to €103.0 million in 2023 same period. Invoiced sales for Divani&Divani by Natuzzi were €26.7 million, compared to €24.9 million in 2023 same period. A2. Unbranded business . Invoiced sales from our unbranded business amounted to €16.6 million, compared to €17.5 million in 2023 same period. The Company's strategy is to focus on selected large accounts and serve them with a more efficient go-to-market model. B. Key Markets Below is a breakdown of upholstery and home-furnishings invoiced sales for the first nine months of 2024, compared to 2023 same period, according to the following geographic areas. 2024 2023 Delta € Delta % North America 76.9 69.5 7.4 10.6% Greater China 18.8 19.5 (0.7) (3.4%) West & South Europe 75.9 80.2 (4.3) (5.3%) Emerging Markets 31.8 34.2 (2.4) (7.2%) Rest of the World* 34.4 34.7 (0.3) (0.9%) Total 237.8 238.1 (0.3) (0.1%) Figures in €/million, except percentage. *Include South and Central America, Rest of APAC. In North America, the sales increase is primarily driven by the branded segment of the business, with significant contributions from our DOS and franchise stores in the U.S. In Greater China, the furniture industry and real estate markets continue to encounter significant challenges. Enhanced coordination efforts within our joint venture are instrumental in reducing the inventory of Natuzzi Italia products. The JV is realigning the organization's scale and capabilities to better reflect the current business trends. To date, the JV has already reduced SG&A expenses by almost 20% compared to the previous year, also as a result of a reduced number of employees. The JV plans to continue with this project to get a more agile structure, to a level coherent with the current business rate. The performance in West & South Europe reflects a generalized difficult macroeconomic condition, especially for some European mature markets, as well as the loss of disposable income by consumers as a result of prior different quarters of high interest rates and inflation. The emerging markets, and in particular East Europe and the Middle East, are still curbed by the worsening of international relations and the associated conflicts. C. Distribution During the first nine months of 2024, the Group distributed its branded collections in 103 countries, according to the following table. Direct Retail FOS Total retail stores (Sept. 30, 2024) North America 22 (1) 10 32 West & South Europe 31 100 131 Greater China 19 (2) 325 344 Emerging Markets ─ 78 78 Rest of the World 4 89 93 Total 76 602 678 (1) Included 3 DOS in the U.S. managed in joint venture with a local partner. As the Natuzzi Group does not exert full control in each of these DOS, we consolidate only the sell-in from such DOS. (2) All directly operated by our joint venture in China. As the Natuzzi Group owns a 49% stake in the joint venture and does not control it, we consolidate only the sell-in from such DOS. FOS = Franchise stores managed by independent partners. The Group also sells its branded products by means of 628 Natuzzi galleries (including 12 Natuzzi Concessions, i.e., store-in-store points of sale directly managed by the Mexican subsidiary of the Group). During the first nine months of 2024, the Group's invoiced sales from direct retail , including DOS and Concessions operated by the Group, were €57.4 million, compared to €54.0 million in 2023 same period. This growth was primarily driven by a 22.3% increase in sales from our US-based DOS. In 2024 we also closed two non-performing stores in Zurich, Switzerland, and Madrid, Spain. During the first nine months of 2024, invoiced sales from franchise stores (FOS) amounted to €97.8 million, compared to €98.7 million in 2023 same period. We continue executing our strategy to evolve into a Brand/Retailer and improve the quality of our distribution network. The weight of the invoiced sales generated by the retail network (Direct retail and Franchise Operated Stores) on total upholstered and home furnishings business in the first nine months of 2024 was 65.3% compared to 64.1% in 2023 same period and compared to 44.1% in 2019 same period. The Group also sells its products through the wholesale channel , consisting primarily of Natuzzi-branded galleries in multi-brand stores, as well as mass distributors selling mainly unbranded products. During the first nine months of 2024, invoiced sales from the wholesale channel amounted to €82.6 million, compared to €85.5 million in 2023 same period. We are placing renewed emphasis on the wholesale segment of our business, which remains a strategic channel in several geographies, including the U.S. and Europe. To support this, we are introducing a re-imagined gallery concept, which provides a practical setting for sales associates to engage with clients, narrate the captivating Natuzzi story, showcase our collections, and support sales. GROSS MARGIN Gross margin for the first nine months of 2024 was 35.8%, which compares to 35.8% in 2023 and 29.0% in 2019 same periods. Net of the (€4.1) million of one-off severance costs included in cost of sales, gross margin for the first nine months of 2024 would have been 37.4%. This would compare to 36.3% in 2023 same period and 30.0% in 2019 same period. 2024 Gross margin was partially affected by the weak business trend during 3Q 2024, that impacted deliveries in August and September, below the average for 2024. This resulted in a less efficient absorption of fixed costs, which, together with a different brand mix, inventory exits and costs related to moving production from Shanghai to Quanjiao, weighed on the improving trajectory of gross margin. 2024 consumption was (36.5%) on revenues, improving from (37.4%) in 2023 same period. In 2024, labor costs increased by €2.8 million compared to the same period in 2023. This rise includes €4.1 million in one-off severance-related expenses, primarily in China, Romania, and Italy, reflecting our ongoing efforts to optimize workforce levels across the Group's facilities. Additionally, labor costs rose in Romania, as part of the Government plan to increase the minimum wage, and in Italy, due to the renegotiation of national collective bargaining agreements. 3Q 2024 gross margin was 31.8%, compared to 35.4% in 3Q 2023 and 28.7% in 3Q 2019, as per the factors explained above. Net of the (€2.9) million of one-off severance costs, 3Q 2024 gross margin would have been 35.7%, which would compare to 35.5% in 3Q 2023 and 30.5% in 3Q 2019. OPERATING EXPENSES During the first nine months of 2024, operating expenses, which includes selling expenses, administrative expenses, other operating income/expenses, and the impairment of trade receivables, totaled (€90.8) million, or (37.2)% of revenue, compared to (€89.7) million, or (36.7)% of revenue in 2023 same period. In 2024, in particular, selling and administrative expenses were affected by the following factors, for a total of €3.1 million, compared to 2023 same period: - a €2.1 million of extra costs related to the opening of new DOS as well from the 4 additional stores opened in 2023; - a €1.0 million reduction in incentives from the Italian government compared to 2023 same period. During the first nine months of 2024, we accrued €0.7 million, to reduce the number of employees in Italy and in some of the Group's subsidiaries. During the first nine months of 2024, transportation costs as a percentage of revenue decreased to (7.8%) from (8.3%) during the same period in 2023. However, in 3Q 2024, they rose to (8.6%), compared to (7.6%) in 3Q 2023, primarily due to the Suez Canal crisis, which required rerouting shipments from China and Vietnam. To counter this inflationary pressure, the Company implemented freight surcharges starting in August 2024. In addition, within "Other income", during the first nine months of 2023, we benefitted from €2.0 million of extraordinary income mainly related to freight surcharges. In 2024, the benefits of similar extraordinary income were not significant. NET FINANCE INCOME/(COSTS) During the first nine months of 2024, the Company accounted for a total of (€7.4) million of Net Finance costs, compared to a total of (€5.6) million of Net Finance costs in 2023 same period. One of the main drivers of the difference between the two periods relates to unfavorable currency exchange movements, resulting in a net exchange rate loss of (€0.7) million in 2024, compared to a net exchange rate gain of €0.3 million in 2023 same period. Furthermore, persisting high interest rates continue to adversely impact our results, principally in terms of high interest expenses on lease contracts as well as third-party financing, resulting in 2024 finance costs of (€7.3) million compared to finance costs of (€6.6) million in 2023 same period. 2024 THIRD QUARTER: KEY RESULTS During 3Q 2024, the Company reported the following results: ─ Total revenue of €75.0 million, in line with €74.9 million in 3Q 2023. The third quarter is historically our slowest quarter, as Italian factories are customarily shut down for most of August. In addition, delivered sales during 3Q 2024 were significantly impacted by ongoing challenging business conditions resulting in lower than usual delivered sales in August and September. ─ We had gross margin of 31.8%, compared to 35.4% in 3Q 2023 and 28.7% in 3Q 2019. Excluding (€2.9) million of one-off severance-related costs to reduce workforce mainly at our Chinese factory, 3Q 2024 gross margin would have been 35.7%. As anticipated, 3Q 2024 gross margin was affected by a weak business trend during the quarter, particularly impacting delivered sales of Natuzzi Italia products, resulting in a less efficient absorption of fixed costs. In addition, a different brand mix, inventory exits and costs related to moving production from Shanghai to Quanjiao, further weighed on gross margin in 3Q 2024. ─ Operating expenses, which includes selling expenses, administrative expenses, other operating income/expenses, and the impairment of trade receivables, totaled (€27.7) million, or (36.9)% of revenue, compared to (€27.8) million, or (37.2)% of revenue in 3Q 2023. ─ Depreciation and amortization, which include also the depreciation charge of right-of-use assets related to the operating leases and accounted for in the cost of sales, selling and administrative expenses, amounted to €5.1 million in 3Q 2024, compared to €5.7 million in 3Q 2023 and €6.2 million in 3Q 2019. ─ In 3Q 2024 operating loss was (€3.8) million, which compares to a loss of (€1.4) million in 3Q 2023, and a loss of (€8.7) million in 3Q 2019. Net of the (€3.4) million of one-off severance costs, 3Q 2024 would have reported an operating loss of (€0.4) million. ─ Total Net Finance costs were (€3.3) million, compared to total Net Finance Costs of (€1.4) million in 3Q 2023, mainly as a result of: i) a €0.5 million increase in finance costs due to persisting high interest rates affecting in particular interest expenses on lease contracts and third-party financing, and ii) a €1.2 million negative difference from net exchange rate, following unfavorable currency movements. ─ We had a loss after tax for the period of (€7.4) million, primarily driven by the factors outlined above. This compares to a loss after tax of (€2.7) million in 3Q 2023 and to a loss after tax of (€11.7) million in 3Q 2019. CASH FLOW AND BALANCE SHEET As of September 30, 2024, we held €17.1 million in cash, from €33.6 million as of December 31, 2023, representing a decrease of €16.5 million. In particular, the difference in cash is determined as follows: ─ Net cash used in operating activities (€5.1) million. Of this, (€6.0) million to reduce workforce; ─ Net cash used in investing activities (€5.4) million; ─ Net cash used in financing activities (€7.1) million; ─ Effect of movements exchange rates on cash (€0.4) million; ─ Difference in bank-overdraft repayable on demand €1.5 million. As of September 30, 2024, we had a net financial position before lease liabilities (cash and cash equivalents minus long-term borrowings minus bank overdraft and short-term borrowings minus current portion of long-term borrowings) of (€28.7) million, compared to (€6.6) million as of December 31, 2023, indicating a deterioration of €22.1 million in the period. ******* Natuzzi S.p.A. and Subsidiaries Unaudited consolidated statement of profit or loss for the third quarter of 2024 and 2023 on the basis of IFRS-IAS (expressed in millions Euro, except as otherwise indicated) Third quarter ended on Change Percentage of revenue 30-Sep-24 30-Sep-23 % 30-Sep-24 30-Sep-23 Revenue 75.0 74.9 0.1 % 100.0 % 100.0 % Cost of Sales (51.1 ) (48.4 ) 5.7 % -68.2 % -64.6 % Gross profit 23.8 26.5 -10.0 % 31.8 % 35.4 % Other income 1.3 2.4 1.8 % 3.2 % Selling expenses (20.3 ) (21.6 ) -6.2 % -27.0 % -28.8 % Administrative expenses (8.5 ) (8.6 ) -0.8 % -11.3 % -11.4 % Impairment on trade receivables (0.3 ) (0.0 ) -0.4 % 0.0 % Other expenses 0.0 (0.1 ) 0.1 % -0.1 % Operating profit/(loss) (3.8 ) (1.4 ) -5.1 % -1.8 % Finance income 0.2 0.4 0.3 % 0.5 % Finance costs (2.4 ) (1.9 ) -3.1 % -2.5 % Net exchange rate gains/(losses) (1.1 ) 0.1 -1.5 % 0.2 % Net finance income/(costs) (3.3 ) (1.4 ) -4.4 % -1.9 % Share of profit/(loss) of equity-method investees (0.0 ) 0.4 0.0 % 0.5 % Profit/(Loss) before tax (7.1 ) (2.4 ) -9.4 % -3.2 % Income tax expense/(benefit) (0.3 ) (0.3 ) -0.4 % -0.4 % Profit/(Loss) for the period (7.4 ) (2.7 ) -9.9 % -3.6 % Profit/(Loss) attributable to: Owners of the Company (7.8 ) (2.7 ) Non-controlling interests 0.3 0.0 Natuzzi S.p.A. and Subsidiaries Unaudited consolidated statement of profit or loss for the nine months of 2024 and 2023 on the basis of IFRS-IAS (expressed in millions Euro, except as otherwise indicated) Nine months ended on Change Percentage of revenue 30-Sep-24 30-Sep-23 % 30-Sep-24 30-Sep-23 Revenue 243.9 244.5 -0.3 % 100.0 % 100.0 % Cost of Sales (156.7 ) (157.0 ) -0.2 % -64.25 % -64.21 % Gross profit 87.2 87.5 -0.4 % 35.8 % 35.8 % Other income 3.8 6.0 1.6 % 2.5 % Selling expenses (67.3 ) (68.2 ) -1.4 % -27.6 % -27.9 % Administrative expenses (27.0 ) (27.3 ) -1.1 % -11.1 % -11.1 % Impairment on trade receivables (0.3 ) (0.1 ) -0.1 % 0.0 % Other expenses (0.1 ) (0.2 ) 0.0 % -0.1 % Operating profit/(loss) (3.6 ) (2.2 ) -1.5 % -0.9 % Finance income 0.6 0.7 0.2 % 0.3 % Finance costs (7.3 ) (6.6 ) -3.0 % -2.7 % Net exchange rate gains/(losses) (0.7 ) 0.3 -0.3 % 0.1 % Net finance income/(costs) (7.4 ) (5.6 ) -3.1 % -2.3 % Share of profit/(loss) of equity-method investees 0.1 2.4 0.0 % 1.0 % Profit/(Loss) before tax (11.0 ) (5.5 ) -4.5 % -2.3 % Income tax expense (0.5 ) (0.9 ) -0.2 % -0.3 % Profit/(Loss) for the period (11.5 ) (6.4 ) -4.7 % -2.6 % Profit/(Loss) attributable to: Owners of the Company (11.9 ) (6.3 ) Non-controlling interests 0.4 (0.1 ) Natuzzi S.p.A. and Subsidiaries Unaudited consolidated statements of financial position (condensed) on the basis of IFRS-IAS (Expressed in millions of Euro) 30-Sep-24 31-Dec-23 ASSETS Non-current assets 176.0 188.6 Current assets 140.4 149.7 TOTAL ASSETS 316.4 338.3 EQUITY AND LIABILITIES Equity attributable to Owners of the Company 56.1 68.9 Non-controlling interests 4.6 4.3 Non-current liabilities 106.3 110.4 Current liabilities 149.5 154.7 TOTAL EQUITY AND LIABILITIES 316.4 338.3 Natuzzi S.p.A. and Subsidiaries Unaudited consolidated statements of cash flows (condensed) (Expressed in millions of Euro) 30-Sep-24 31-Dec-23 Net cash provided by (used in) operating activities (5.1 ) 3.2 Net cash provided by (used in) investing activities (5.4 ) (7.9 ) Net cash provided by (used in) financing activities (7.1 ) (15.7 ) Increase (decrease) in cash and cash equivalents (17.6 ) (20.4 ) Cash and cash equivalents, beginning of the year 31.6 52.7 Effect of movements in exchange rates on cash held (0.4 ) (0.8 ) Cash and cash equivalents, end of the period 13.6 31.6 For the purpose of the statements of cash flow, cash and cash equivalents comprise the following: (Expressed in millions of Euro) 30-Sep-24 31-Dec-23 Cash and cash equivalents in the statement of financial position 17.1 33.6 Bank overdrafts repayable on demand (3.5 ) (2.0 ) Cash and cash equivalents in the statement of cash flows 13.6 31.6 CONFERENCE CALL The Company will host a conference call on Friday December 13, 2024, at 10:00 a.m. U.S. Eastern time (4.00 p.m. Italy time, or 3.00 p.m. UK time) to discuss financial information . To join live the conference call, interested persons will need to either: i) dial-in the following number: Toll/International: + 1-412-717-9633, then passcode 39252103# , or ii) click on the following link : https://www.c-meeting.com/web3/join/3PQUFXRW48XTKQ to join via video. Participants also have the option to listen via phone after registering to the link. ***** CAUTIONARY STATEMENT CONCERNING FORWARD-LOOKING STATEMENTS Certain statements included in this press release constitute forward-looking statements within the meaning of the safe harbor provisions of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, as amended. These statements may be expressed in a variety of ways, including the use of future or present tense language. Words such as "estimate," "forecast," "project," "anticipate," "likely," "target," "expect," "intend," "continue," "seek," "believe," "plan," "goal," "could," "should," "would," "may," "might," "will," "strategy," "synergies," "opportunities," "trends," "ambition," "objective," "aim," "future," "potentially," "outlook" and words of similar meaning may signify forward-looking statements. These statements involve inherent risks and uncertainties, as well as other factors that may be beyond our control. The Company cautions readers that a number of important factors could cause actual results to differ materially from those contained in any forward-looking statement. Such factors include, but are not limited to: effects on the Group from competition with other furniture producers, material changes in consumer demand or preferences, significant economic developments in the Group's primary markets, the Group's execution of its reorganization plans for its manufacturing facilities, significant changes in labor, material and other costs affecting the construction of new plants, significant changes in the costs of principal raw materials and in energy costs, significant exchange rate movements or changes in the Group's legal and regulatory environment, including developments related to the Italian Government's investment incentive or similar programs, the duration, severity and geographic spread of any public health outbreaks (including the spread of new variants of COVID-19), consumer demand, our supply chain and the Company's financial condition, business operations and liquidity, the geopolitical tensions and market uncertainties resulting from the ongoing armed conflict between Russia and Ukraine and the Israel-Hamas war and the inflationary environment and increases in interest rates. The Company cautions readers that the foregoing list of important factors is not exhaustive. When relying on forward-looking statements to make decisions with respect to the Company, investors and others should carefully consider the foregoing factors and other uncertainties and events. Additional information about potential factors that could affect the Company's business and financial results is included in the Company's filings with the U.S. Securities and Exchange Commission, including the Company's most recent Annual Report on Form 20-F. The Company undertakes no obligation to update any of the forward-looking statements after the date of this press release. About Natuzzi S.p.A. Founded in 1959 by Pasquale Natuzzi, Natuzzi S.p.A. is one of the most renowned brands in the production and distribution of design and luxury furniture. As of September 30, 2024, Natuzzi distributes its collections worldwide through a global retail network of 678 monobrand stores and 628 galleries. Natuzzi products embed the finest spirit of Italian design and the unique craftmanship details of the "Made in Italy", where a predominant part of its production takes place. Natuzzi has been listed on the New York Stock Exchange since May 13, 1993. Committed to social responsibility and environmental sustainability, Natuzzi S.p.A. is ISO 9001 and 14001 certified (Quality and Environment), ISO 45001 certified (Safety on the Workplace) and FSC ® Chain of Custody, CoC (FSC-C131540). View source version on businesswire.com: https://www.businesswire.com/news/home/20241212991243/en/ © 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

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