
Satellos Bioscience: Q1 Earnings Snapshot
TORONTO (AP) — TORONTO (AP) — Satellos Bioscience Inc. (MSCLF) on Tuesday reported a loss of $6.1 million in its first quarter.
On a per-share basis, the Toronto-based company said it had a loss of 4 cents.
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May 13, 2025

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Miami Herald
2 hours ago
- Miami Herald
Kroger To Close 60 Stores Across US: What To Know
Kroger announced plans to close 60 of its supermarkets across the United States over the next 18 months, representing about 5 percent of the Cincinnati-based company's 1,239 Kroger-branded grocery stores across 16 states. The popular grocery retailer revealed the closure plans while reporting first-quarter earnings on Friday but has not specified which store locations will be affected or released a list of impacted stores. Newsweek reached out to Kroger on Saturday via email for comment. Companies close store locations for various reasons. While shifts in consumer shopping behavior and lower demand can cause stores to close, corporations often choose to shutter underperforming locations. Sales dropped slightly to $45.1 billion compared to $45.3 billion for the same period a year earlier according to Kroger earnings data. The move comes as grocery retailers nationwide face mounting pressures from changing consumer habits, inflation, and increased competition from discount chains and online retailers. More than 2,500 store closures are planned across the U.S. this year, according to The Mirror. Kroger expects the 60 store closures to provide a modest financial benefit to the company, according to a regulatory filing. In the first quarter, Kroger recognized an impairment charge of $100 million related to the planned closings. The company indicated that resulting savings will be reinvested into customer experience initiatives across remaining locations. The closures affect Kroger's extensive footprint spanning 16 states, though the company has remained tight-lipped about specific locations. The grocery retailer told CBS MoneyWatch that it will not be releasing a list of the affected stores. This lack of transparency has left employees and customers uncertain about which communities will lose their local Kroger. However, Kroger says it is committed to supporting displaced workers. All employees at affected stores will be offered roles at other Kroger store locations, though details about relocation assistance or wage protection remain unclear. The timing coincides with broader challenges facing traditional grocery retailers. Many chains are grappling with rising operational costs, changing shopping patterns accelerated by the pandemic, and fierce competition from warehouse clubs, dollar stores, and e-commerce platforms. Kroger company statement: "As a result of these store closures, Kroger expects a modest financial benefit. Kroger is committed to reinvesting these savings back into the customer experience, and as a result, this will not impact full-year guidance." Director of Media Relations/Corporate Communications Erin Rolfes told Newsweek in an email response: "In the first quarter, Kroger recognized an impairment charge of $100 million related to the planned closing of approximately 60 stores over the next 18 months." Alex Beene, a financial literacy instructor for the University of Tennessee at Martin, previously told Newsweek: "For some major retailers, 2025 is becoming a year of consolidation. Retail locations that have struggled in recent years to remain profitable due to rising costs and less demand are being shuttered, as companies focus their efforts on more successful stores. The hope is these closures will ultimately produce more fiscal and operational efficiency, but it will come at the cost of customers who favored these locations having fewer options." Michael Ryan, a finance expert and the founder of previously told Newsweek: "These aren't random casualties; they're strategic amputations of unprofitable limbs to save the corporate $15+ minimum wages to supply chain inflation, all crushing their razor-thin margins. Combine this with the march of e-commerce and changing consumer habits post-pandemic, physical retail becomes a luxury many companies can no longer afford." The 18-month closure timeline suggests Kroger will implement the plan gradually, though specific dates and locations remain undisclosed. Related Articles Kroger Responds After Georgia Juneteenth Cakes Go ViralKroger Food Recall Update: Full List of Products ImpactedWhy You're Not Feeling Trump's Egg Price PlungeRodney McMullen Resigns After Personal Conduct Probe, Kroger Shares Fall 2025 NEWSWEEK DIGITAL LLC.


Hamilton Spectator
2 hours ago
- Hamilton Spectator
From scandal to strategy: Kyle Moyer's new role at Arrow McLaren Racing
CHARLOTTE, N.C. (AP) — Kyle Moyer, one of the three Team Penske executives fired during an Indianapolis 500 scandal, has been hired by Arrow McLaren Racing and will be with the IndyCar team this coming week for a test session at Iowa Speedway. Moyer was hand-selected to join McLaren by team principal Tony Kanaan. The two won the 2004 IndyCar championship together at Andretti Global. Moyer was Kanaan's team manager at the time. At McLaren, Moyer will be the director of competition and assist Scott Harner, who is the director of race operations. He will also replace Kanaan as strategist for Nolan Siegel, freeing Kanaan to work on race day with all three McLaren drivers. Moyer's official start date is June 30. Kanaan said almost the entire industry tried to hire Moyer after his May firing at Penske, but the previous relationship between Moyer and Kanaan gave McLaren the edge. 'Kyle is one of the best strategists in the paddock, so talking about his qualities, not just about him as a human being, he knows a lot about racing,' Kanaan told The Associated Press. 'Kyle probably is one of the top guys of knowledge of IndyCar — he's been around it his entire life. 'And Kyle is a people person, he's that kind of guy that captivates people and people want to work for Kyle,' Kanaan continued. 'At the same time, he is very direct and he will call you out and he makes it so every person I've ever seen working for Kyle wanted to work for Kyle. That's something that I experienced in my career and that is probably the biggest thing. The respect that I have for the guy is unbelievable.' Moyer's popularity was evident when Penske driver Scott McLaughlin lashed out after the trio of firings ahead of the Indy 500 . Moyer was let go along with team president Tim Cindric, a 25-year Penske employee, and managing director Ron Ruzewski. Moyer was Penske's general manager of the IndyCar program and the strategist for McLaughlin's car. The firings followed the discovery that the cars of Josef Newgarden and Will Power had illegally modified rear attenuators; Cindric said seams on the safety part had been sealed for aesthetic purposes, but the rulebook clearly stated no alterations could be made to the part. It was the second major technical violation for Penske cars in just over a year and team owner Roger Penske was left with no choice but to fire his top three executives. Penske owns the three-car race team, the IndyCar Series, the Indianapolis Motor Speedway and the Indianapolis 500. 'Ultimately, those three guys are friends of mine and have done a tremendous amount in my career to get me to this point,' McLaughlin said in May after the firings. 'I guess you could say there's a sadness from my perspective. At the end of the day I drive for Roger Penske. I respect the decision. I understand the decision. We move forward.' Kanaan said he was shocked that Moyer did not have a non-compete clause and was available to McLaren immediately. He believes Moyer will be a help to Siegel, the 20-year-old in his first full season of IndyCar. Siegel heads into Sunday's race at Road America in Wisconsin ranked 21st in the standings. Moyer will eventually relocate from North Carolina, where Penske is based, to Indianapolis for his role with McLaren. ___ AP auto racing:


Fox Sports
4 hours ago
- Fox Sports
Qualifying Notes: Kyle Moyer Lands New Job with Arrow McLaren
INDYCAR Kyle Moyer's time as a free agent didn't last long. The veteran team manager who was one of three executives released last month by Team Penske has been hand-picked by Arrow McLaren Team Principal Tony Kanaan to join the Indianapolis-based NTT INDYCAR SERIES program. Moyer will be the organization's director of competition beginning with next week's test at Iowa Speedway. Kanaan and Moyer worked together for years at Andretti Global when Kanaan was a driver. Moyer was the team manager when Kanaan won the INDYCAR SERIES championship in 2004. Moyer left Michael Andretti's team in 2015 to join Roger Penske's organization. Moyer, along with Team President Tim Cindric and Managing Director Ron Ruzewski, were released by Team Penske in advance of the recent Indianapolis 500 presented by Gainbridge after the cars of defending champion Josef Newgarden and Will Power were found with unapproved modifications ahead of qualifying. At Arrow McLaren, Moyer will replace Kanaan as the race strategist for Nolan Siegel, allowing Kanaan to work with all three Arrow McLaren drivers on race weekends. Kanaan told the Associated Press that almost every team in the paddock tried to hire Moyer, but the relationship the two of them have gave McLaren the edge. 'Kyle is one of the best strategists in the paddock, so talking about his qualities, not just about him as a human being, he knows a lot about racing,' Kanaan told the AP. 'Kyle probably is one of the top guys of knowledge of INDYCAR. He's been around it his entire life.' Moyer grew up in Monrovia, Indiana, and was brought into the sport by the Bettenhausen family. Kirkwood Credits Decision Making to Surge Series points leader Alex Palou had the spotlight for most of the first half of the season. A dominant start featured five wins in six races, including an Indy 500 victory, and made him the undisputed championship favorite. But lately, Andretti Global's Kyle Kirkwood has turning heads – and is turning the title tide. Kirkwood has surged to third in the standings, 75 points behind Palou, thanks to wins in the only three races Palou hasn't claimed. Kirkwood had just two wins in his first 53 series races. He now has three wins in the past six races. 'I think he's always been there,' Colton Herta said of his teammate heading into Sunday's XPEL Grand Prix at Road America Presented by AMR (1:30 p.m. ET, FOX, FOX Deportes, FOX Sports app, INDYCAR Radio Network). 'Maybe he's gotten a little bit better at how to race and when to go fast in races, and that just comes (with experience). But I think he's driving pretty similar to last year. He just had bad luck with penalties last year.' Kirkwood agrees the difference isn't raw speed but decision making. He cited last year's fifth-place finish at Road America as an example of when pushed too hard early in the race trying to stave off eventual third-place finisher Scott McLaughlin. The effort backfired and opened the door for McLaughlin and Palou to pass. 'I realized later it was inevitable,' Kirkwood said. 'I pushed too hard too early.' We'll see what he learned from last year. Dixon Penalized for Impeding DeFrancesco Six-time series champion Scott Dixon said he was trying to create a gap to maximize his chances of advancing in qualifying, but race officials said Dixon impeded the hot lap of Rahal Letterman Lanigan Racing's Devlin DeFrancesco during the first round of qualifying. The penalty proved costly to the Chip Ganassi Racing veteran. Rather than advancing to the Fast 12 and perhaps earning a top-10 starting position, Dixon lost his two fastest laps and was reduced to the 25th starting position. Only three times in his career has he started farther back, including 26th earlier this year in the Children's of Alabama INDYCAR Grand Prix at Barber Motorsports Park. He finished 12th in that race. 'It is what it is, man,' he said in ending an interview with FOX's Kevin Lee on pit road. recommended