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The Herald Scotland
2 days ago
- Entertainment
- The Herald Scotland
Stylish racegoers out in force for Royal Ascot Ladies' Day
In sweltering temperatures spectators swept into the famous Berkshire racecourse before the feature race of the week, the Gold Cup, with the winning jockey and trainer receiving their prizes from the King and Queen. Milliner Viv Jenner did not waste a past creation but recycled a striking circular yellow and pink design for Ladies' Day: 'It's all about sustainable fashion, I wore this hat in 2022. 'It's been sitting in a box in storage for years and I thought rather then make a new one I'd give it a new lease of life and rework it, after finding this lovely yellow dress. 'Bringing a bit of sunshine to Royal Ascot, if we needed any more.' Milliner Viv Jenner, wearing her sustainable fashion hat, takes a selfie during Ladies' Day at Royal Ascot (Andrew Matthews/PA) The royal family will be out in force for a third-day of racing, with the Princess Royal and husband, Vice Admiral Sir Tim Laurence, joined by Anne's daughter Zara Tindall and her husband, former England rugby star Mike Tindall, in the royal box. The Duke and Duchess of Edinburgh will also be among the royal party with Princess Beatrice and her husband Edoardo Mapelli Mozzi. A racegoer modelling an Odette and Elliott hat created for fashion designer Francini Keiser (John Walton/PA) Outlandish hats were the order of the day but one racegoer was carrying a novel handbag – in the shape of a watering can. Olivia Harrell was making her first visit to Royal Ascot and was dressed head to toe in vintage finds from charity shops and said about her handbag: 'This is from Paris I bought it for just 30 euros.' Fashion designer Francini Keiser and two models were wearing outfits inspired by the 1960s she created and they all wore distinctive hats by her friend the milliner Odette and Elliott. Ms Keiser, whose hat featured dyed swan feathers, said: 'It's my first time here it's just an extraordinary experience. All these hats are just amazing and the spirit of the people, everyone is dressed up. We're also very excited to see the racing and the King.' Outlandish hats were the order of the day (Andrew Matthews/PA) Royal Ascot stalwart Tracy Rose wore a dress and towering hat she made inspired by Georgian fashion to mark the 250th birthday of author Jane Austen. She said: 'This is a contemporary homage to the bonnet, the dress also owes something to the bonnet which could be a first and I began designing everything at the start of the year.' In 2022 Mrs Rose founded the Racing For All Diversity Campaign to encourage people of all backgrounds to enjoy a day at the races. Speaking about the appeal of Royal Ascot she said: 'It's so British, it's such a party atmosphere and everybody just wants to be outstanding and have fun with their fashion, which I just love. I'm loving everybody looking wonderful.'
Business Insider
6 days ago
- Business Insider
My passive-aggressive in-laws are paying for my vacation. How do I survive the trip?
For Love & Money is a column from Business Insider answering your relationship and money questions. This week, a reader's in-laws' passive-aggressive communication is causing conflict ahead of a family vacation. Our columnist suggests a little willful obtuseness and taking them at their word — all while maintaining a good attitude. Have a question for our columnist? Write to For Love & Money using this Google form. Dear For Love & Money, I'm a direct person. I say what I mean and mean what I say. This approach has always worked for me. Even when my honesty upsets people, at least they know where they stand with me. Except for with my husband's family. He and I had a whirlwind romance and got married within six months of meeting. I have no regrets, and every day I get to know my husband more, the better I feel about my choice. He is respectful, considerate, always shows up for his people, and loves me. What more could I want? So far, his parents have been the only problem. I think they mean well, but they're very passive-aggressive. We have already clashed more in the short time I have known them than I have with anyone in my entire life. They're paying for a family vacation this summer, and are already talking in circles about what they are paying for and how meals will work. I don't want to go. Their communication style makes me itchy. I can't imagine putting up with it for a week straight with a smile, especially since they're paying for everything. My husband wants to go, however, and I would do anything to make him happy. How do I survive this trip? Sincerely, Straight Shooter Dear Straight Shooter, I've found that the only way to effectively communicate with people who refuse to be honest and direct about their feelings, plans, and desires is to take everything they say as the gospel truth and hold them to it. We typically recognize when a person is talking around something or expecting you to read the subtext — or even worse, read their minds — but that doesn't make it our responsibility. If two people both speak the same language, the onus for being understood is on the communicator; the other person's only job is to listen. This doesn't guarantee there won't be miscommunication and conflict. However, it'll give you something solid to work with — plus, plausible deniability if things go south. And hopefully, if your in-laws are held to their word long enough and often enough, they'll adjust their communication styles to reflect this. I doubt this shift will happen in time for family vacation, however, so use the trip as an opportunity to try a little willful obtuseness on for size. For instance, if they spent the entire week singing the praises of a particular seafood restaurant they say they want to "take you out" to, but when the bill comes, they say "I guess we'll pay for your dinner too," just smile and say "thank you." Of course, the difficulty with passive-aggressive people is that they often won't share essential information like preferences or plans. Maybe they don't want to do something you're excited about and ignore your attempts at consensus in hopes you take the hint. In cases such as these, you can't take them at their word because they aren't offering any words. As a newcomer to the family, I highly recommend you hang back and let your husband press the issue. Families struggle with any change to the status quo, and new family members who arrive in a whirlwind romance are certainly no exception. For that person to immediately begin shifting the dynamic of their family away from their long-held tradition of passive-aggressive communication will likely infuriate them. This doesn't mean you shouldn't do it, but go gently, and let their beloved son take the heat for it. I also recommend that you and your new husband plan your own trip for a different time. Getting through a vacation that I have to assume will be poorly planned, considering the planners don't know how to communicate, will be much easier if you have another trip tailored to your interests, energy levels, and planning styles already on the books. Finally, enjoy this free vacation with a good attitude. If you spend the whole time looking for examples of your in-laws' passive aggression, that's all you'll get to experience. As annoying as people like that can be, it's just a poor communication style. None of us enjoy being judged by our worst traits. I am sure your new in-laws have all kinds of redeeming qualities — they raised at least one of them into your dream guy. So, make a good impression by ignoring the nonsense, letting your husband handle the details, and focusing on their good parts. Especially that guy they raised. Rooting for you, For Love & Money Looking for advice on how your savings, debt, or another financial challenge is affecting your relationships? Write to For Love & Money using this Google form.
Time of India
7 days ago
- Business
- Time of India
ArisInfra Solutions sets IPO price band at ₹210-222 per share
NEW DELHI: ArisInfra Solutions Ltd on Friday fixed a price band of Rs 210 to Rs 222 per share for its nearly Rs 500-crore Initial Public Offering (IPO). The initial share sale will open for a public subscription on June 18 and conclude on June 20, the company announced. The IPO is a completely fresh issue of equity shares worth Rs 499.6 crore with no Offer For Sale (OFS) component. At the upper end of the price band, the company is valued at nearly Rs 1,800 crore. Proceeds of the issue will be used for funding the working capital requirements of the company, investment in subsidiary, Buildmex-Infra, for funding its working capital, purchase of partial shareholding from existing shareholders of its subsidiary, ArisUnitern Re Solutions Pvt Ltd, repayment of loan and for general corporate purposes. Arisinfra Solutions is a B2B technology-enabled company, focusing on simplifying and digitising the procurement process for construction materials. Between April 1, 2021 and March 31, 2024, the company has delivered 10.35 million metric tonnes of construction materials, including aggregates, ready-mix concrete, steel, cement, construction chemicals and walling solutions, utilising 1,458 vendors and serving 2,133 customers across 963 pin codes in various cities. The company said that 75 per cent of the issue size has been reserved for qualified institutional buyers, 15 per cent for non-institutional investors and the remaining 10 per cent for retail investors. JM Financial , IIFL Securities and Nuvama are the book running lead managers to the public issue. The equity shares are expected to be listed on June 25 on the stock exchanges.
Yahoo
12-06-2025
- Business
- Yahoo
The Lovesac Company Reports First Quarter Fiscal 2026 Financial Results
Q1 FY26 Net Sales Increased 4.3% to $138.4 Million vs. Q1 FY25 STAMFORD, Conn., June 12, 2025 (GLOBE NEWSWIRE) -- The Lovesac Company (Nasdaq: LOVE) ('Lovesac' or the 'Company'), the Designed for Life home and technology brand best known for its Sactionals, The World's Most Adaptable Couch, today announced financial results for the first quarter of fiscal 2026, which ended May 4, 2025. Shawn Nelson, Chief Executive Officer, stated, 'Our first quarter performance was inline with our expectations to capitalize on secular initiatives to drive growth. Notably, we delivered topline growth and leveraged operating expenses as we have begun to reap the benefits of previous investments in core capabilities to bolster our infinity flywheel and accelerate our pace of product innovation. Our first quarter also reflected another period of market share gains despite persistent category headwinds and an evolving macroeconomic backdrop, thereby reinforcing our unique competitive advantages driven by our Designed for Life product platforms and efficient customer acquisition engines. As we enter the second quarter, we are thrilled to have launched our third Designed For Life Platform, EverCouch. This expansion into the armchair, loveseat and sofa category effectively doubles our total addressable market. While we remain cautious given the dynamic environment, we have high conviction in our long-term growth trajectory as we execute against our strategic roadmap and unlock the tremendous growth potential ahead.' Key Measures for the First Quarter of Fiscal 2026 Ending May 4, 2025:(Dollars in millions, except per share amounts. Dollar and percentage changes may not recalculate due to rounding.) Thirteen weeks ended May 4,2025 May 5,2024 % Inc (Dec) Net sales Showrooms $96.5 $81.6 18.2% Internet $33.3 $36.6 (8.9%) Other $8.6 $14.4 (40.5%) Total net sales $138.4 $132.6 4.3% Gross profit $74.4 $72.0 3.2% Gross margin 53.7% 54.3% (60) bps Total operating expenses $89.3 $89.9 (0.6%) SG&A $67.1 $68.4 (1.9%) SG&A as a % of Net Sales 48.5% 51.6% (310) bps Advertising and marketing $18.6 $18.0 3.3% Advertising & marketing as a % of Net Sales 13.4% 13.6% (20) bps Net loss $(10.8) $(13.0) 16.4% Basic net loss per common share $(0.73) $(0.83) 12.0% Diluted net loss per common share $(0.73) $(0.83) 12.0% Adjusted EBITDA1 $(8.4) $(10.3) 17.7% Net cash used in operating activities $(41.4) $(7.0) (489.9%) 1 Adjusted EBITDA is a non-GAAP measure. See 'Non-GAAP Information' and 'Reconciliation of Non-GAAP Financial Measures' included in this press release. Percent increase (decrease) except showroom count Thirteen weeks ended May 4,2025 May 5,2024 Omni-channel Comparable Net Sales(1) 2.8% (14.8)% Internet Sales (8.9)% (9.0)% Ending Showroom Count 267 246 1 Omni-channel Comparable Net Sales includes sales at all retail locations and online, open greater than 12 months (including remodels and relocations) and excludes closed stores. Highlights for the Quarter Ended May 4, 2025: Net sales increased $5.8 million, or 4.3%, in the first quarter of fiscal 2026 compared to the prior year period primarily driven by an increase of 2.8% in omni-channel comparable net sales and the net addition of 21 new showrooms. During the first quarter of fiscal 2026, we opened 11 additional showrooms and closed 1 showroom. Gross profit increased $2.4 million, or 3.2% in the first quarter of fiscal 2026 compared to the prior year period. Gross margin decreased 60 basis points to 53.7% of net sales in the first quarter of fiscal 2026 from 54.3% of net sales in the prior year period primarily driven by a decrease of 230 basis points in product margin driven by higher promotional discounting, partially offset by decreases of 130 basis points in inbound transportation costs and 40 basis points in outbound transportation and warehousing costs. SG&A expense decreased $1.3 million, or 1.9%, in the first quarter of fiscal 2026 compared to the prior year period due to decreases in professional fees, insurance matters, credit card fees, computer expense, and other overhead costs, partially offset by increases in payroll, equity-based compensation, and rent. Advertising and marketing expense increased $0.6 million, or 3.3% in the first quarter of fiscal 2026 compared to the prior year period, primarily driven by costs associated with the launch of a new product marketing campaign. Operating loss was $15.0 million in the first quarter of fiscal 2026 compared to $17.9 million in the prior year period. Operating margin was (10.8)% of net sales in the first quarter of fiscal 2026 compared to (13.5)% of net sales in the prior year period. Net loss was $10.8 million in the first quarter of fiscal 2026 or $(0.73) net loss per common share compared to $13.0 million or $(0.83) net loss per common share in the prior year period. During the first quarter of fiscal 2026, the Company recorded an income tax benefit of $3.8 million, compared to $4.2 million in the prior year period. The change in benefit is primarily driven by a lower net loss before taxes. Other Financial Highlights as of May 4, 2025: The cash and cash equivalents balance as of May 4, 2025 was $26.9 million as compared to $72.4 million as of May 5, 2024. There was no balance on the Company's line of credit as of May 4, 2025 and May 5, 2024. The Company's availability under the line of credit was $36.0 million and $33.7 million as of May 4, 2025 and May 5, 2024, respectively. Total merchandise inventory was $124.9 million as of May 4, 2025 as compared to $94.7 million as of May 5, 2024 primarily related to a planned stock inventory increase of $25.9 million coupled with an increase in freight capitalization of $5.1 million. Outlook: The Company provides guidance of select information related to the Company's financial and operating performance, and such measures may differ from year to year. The projections are as of this date and the Company assumes no obligation to update or supplement this information. The Company currently expects the following for the full year of fiscal 2026: Net sales in the range of $700 million to $750 million. Adjusted EBITDA1 in the range of $48 million to $60 million. Net income in the range of $13 million to $22 million. Diluted income per common share in the range of $0.80 to $1.36 on approximately 16.3 million estimated diluted weighted average shares outstanding. The Company currently expects the following for the second quarter of fiscal 2026: Net sales in the range of $157 million to $166 million. Adjusted EBITDA1 loss in the range of $2 million to $7 million. Net loss in the range of $8 million to $12 million. Basic loss per common share in the range of $0.58 to $0.83 on approximately 14.6 million estimated weighted average shares outstanding. 1 Adjusted EBITDA is a non-GAAP measure. See 'Non-GAAP Information' and 'Reconciliation of Non-GAAP Financial Measures' included in this press release. Conference Call Information: A conference call to discuss the financial results for the first quarter ended May 4, 2025 is scheduled for today, June 12, 2025, at 8:30 a.m. Eastern Time. Investors and analysts interested in participating in the call are invited to dial (877) 407-3982 (international callers please dial (201) 493-6780) approximately 10 minutes prior to the start of the call. A live audio webcast of the conference call will be available online at A recorded replay of the conference call will be available within two hours of the conclusion of the call and can be accessed online at for 90 days. About The Lovesac Company: Based in Stamford, Connecticut, The Lovesac Company (NASDAQ: LOVE) is a technology driven company that designs, manufactures and sells unique, high quality furniture derived through its proprietary Designed for Life approach which results in products that are built to last a lifetime and designed to evolve as customers' lives do. The current product offering is comprised of modular couches called Sactionals, the Sactionals Reclining seat, premium foam beanbag chairs called Sacs, the Pillowsac™ Accent Chair, an immersive surround sound home theater system called StealthTech, and an innovative sofa seating solution called EverCouch™. As a recipient of Repreve's 7th Annual Champions of Sustainability Award, responsible production and innovation are at the center of the brand's design philosophy with products protected by a robust portfolio of utility patents. Products are marketed and sold primarily online directly at supported by a physical retail presence in the form of Lovesac branded showrooms, as well as through shop-in-shops and pop-up-shops with third party retailers. LOVESAC, DESIGNED FOR LIFE, SACTIONALS, SAC, STEALTHTECH, and THE WORLD'S MOST ADAPTABLE COUCH are trademarks of The Lovesac Company and are Registered in the U.S. Patent and Trademark Office. Non-GAAP Information: Adjusted EBITDA is defined as a non-GAAP financial measure by the Securities and Exchange Commission (the 'SEC') that is a supplemental measure of financial performance not required by, or presented in accordance with, GAAP. We define 'Adjusted EBITDA' as earnings before interest, taxes, depreciation and amortization, adjusted for the impact of certain non-cash and other items that we do not consider in our evaluation of ongoing operating performance. These items include management fees, equity-based compensation expense, write-offs of property and equipment, deferred rent, financing expenses and certain other charges and gains that we do not believe reflect our underlying business performance. We have reconciled this non-GAAP financial measure with the most directly comparable GAAP financial measure within the schedules attached hereto. Statements regarding our expectations as to fiscal 2026 Adjusted EBITDA do not include certain charges and costs. These items include equity-based compensation expense and certain other charges and gains that we do not believe reflect our underlying business performance. We are not able to provide a reconciliation of our non-GAAP financial guidance to the corresponding GAAP measures without unreasonable effort because of the uncertainty and variability of the nature and amount of these future charges and costs. This is due to the inherent difficulty of forecasting the timing of certain events that have not yet occurred and are out of the Company's control. We believe that these non-GAAP financial measures not only provide its management with comparable financial data for internal financial analysis but also provide meaningful supplemental information to investors. Specifically, these non-GAAP financial measures allow investors to better understand the performance of our business, facilitate a more meaningful comparison of our actual results on a period-over-period basis and provide for a more complete understanding of factors and trends affecting our business. We have provided this information as a means to evaluate the results of our ongoing operations alongside GAAP measures such as gross profit, operating income (loss) and net income (loss). Other companies in our industry may calculate these items differently than we do. These non-GAAP measures should not be considered as a substitute for the most directly comparable financial measures prepared in accordance with GAAP, such as net income (loss) or net income (loss) per share as a measure of financial performance, cash flows from operating activities as a measure of liquidity, or any other performance measure derived in accordance with GAAP. Non-GAAP financial measures have limitations as analytical tools, and investors should not consider them in isolation or as a substitute for analysis of the Company's results as reported under GAAP. Cautionary Statement Concerning Forward-Looking Statements This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 and other legal authority. Forward-looking statements can be identified by words such as 'may,' 'continue(s),' 'believe,' 'anticipate,' 'could,' 'should,' 'intend,' 'plan,' 'will,' 'aim(s),' 'can,' 'would,' 'expect(s),' 'expectation(s),' 'estimate(s),' 'project(s),' 'projections,' 'forecast(s)', 'positioned,' 'approximately,' 'potential,' 'goal,' 'pro forma,' 'strategy,' 'outlook' or the negative of these words or other similar terms or expressions that concern our expectations, strategy, plans, or intentions. All statements, other than statements of historical facts, included in this press release under the heading 'Outlook' and all statements regarding strategy, future operations and launch of new products, the pace and success of new products, future financial position or projections, future revenue, projected expenses, sustainability goals, prospects, plans and objectives of management are forward-looking statements. These statements are based on management's current expectations, beliefs and assumptions concerning the future of our business, anticipated events and trends, the economy and other future conditions. We may not actually achieve the plans, carry out the intentions or meet the expectations disclosed in the forward-looking statements and you should not rely on these forward-looking statements. Actual results and performance could differ materially from those projected in the forward-looking statements as a result of many factors. Among the key factors that could cause actual results to differ materially from those expressed or implied in the forward-looking statements include: business disruptions or other consequences of economic instability, recession, political instability, civil unrest, armed hostilities, natural and man-made disasters, pandemics or other public health crises, or other catastrophic events; the impact of changes or declines in consumer spending and increases in interest rates and inflation on our business, sales, results of operations and financial condition; cybersecurity and vulnerability to electronic break-ins and other similar disruptions; active pending or threatened litigation; our ability to manage and sustain our growth and profitability effectively, including in our ecommerce business, forecast our operating results, and manage inventory levels; our cash flows, changes in the market price of our common stock, global economic and market conditions and other considerations that could impact the specific timing, price and size of repurchases under our stock repurchase program or our ability to fund any stock repurchases; our ability to improve our products and develop and launch new products; our ability to successfully open and operate new showrooms; our ability to advance, implement or achieve the goals set forth in our ESG Report; our ability to realize the expected benefits of investments in our supply chain and infrastructure; disruption in our supply chain and dependence on foreign manufacturing and imports for our products; execution of our share repurchase program and its expected benefits for enhancing long-term shareholder value; our ability to acquire new customers and engage existing customers; reputational risk associated with increased use of social media; our ability to attract, develop and retain highly skilled associates and employees; system interruption or failures in our technology infrastructure needed to service our customers, process transactions and fulfill orders; any inability to implement and maintain effective internal control over financial reporting; unauthorized disclosure of sensitive or confidential information through breach of our computer system; the ability of third-party providers to continue uninterrupted service; the impact of changes in diplomatic and trade relations, as well as tariffs and the countermeasures and tariff mitigation initiatives; the regulatory environment in which we operate; our ability to maintain, grow and enforce our brand and intellectual property rights and avoid infringement or violation of the intellectual property rights of others; and our ability to compete and succeed in a highly competitive and evolving industry, as well as those risks and uncertainties disclosed under the sections entitled 'Risk Factors' and 'Management's Discussion and Analysis of Financial Condition and Results of Operations' in our most recent Form 10-K and in our Form 10-Qs filed with the Securities and Exchange Commission, and similar disclosures in subsequent reports filed with the SEC, which are available on our investor relations website at and on the SEC website at Any forward-looking statement made by us in this press release speaks only as of the date on which we make it. We disclaim any intent or obligation to update these forward-looking statements to reflect events or circumstances that exist after the date on which they were made. Investor Relations Contact:Caitlin Churchill, ICR(203) 682-8200InvestorRelations@ THE LOVESAC COMPANYCONDENSED BALANCE SHEETS(unaudited) (amounts in thousands, except share and per share amounts) May 4,2025 February 2,2025 Assets Current Assets Cash and cash equivalents $ 26,900 $ 83,734 Trade accounts receivable, net 13,022 16,781 Merchandise inventories, net 124,926 124,333 Prepaid expenses 12,977 14,807 Other current assets 3,628 6,942 Total Current Assets 181,453 246,597 Property and equipment, net 85,267 77,990 Operating lease right-of-use assets 164,272 157,750 Goodwill 144 144 Intangible assets, net 1,719 1,586 Deferred tax asset 18,914 15,277 Other assets 31,971 32,906 Total Assets $ 483,740 $ 532,250 Liabilities and Stockholders' Equity Current Liabilities Accounts payable $ 25,019 $ 51,814 Accrued expenses 42,453 51,986 Payroll payable 7,137 9,501 Customer deposits 11,639 11,250 Current operating lease liabilities 22,599 22,662 Sales taxes payable 4,218 7,897 Total Current Liabilities 113,065 155,110 Operating lease liabilities, long-term 169,037 160,361 Income tax payable, long-term 424 424 Line of credit — — Total Liabilities 282,526 315,895 Commitments and Contingencies Stockholders' Equity Preferred Stock $0.00001 par value, 10,000,000 shares authorized, no shares issued or outstanding as of May 4, 2025 and February 2, 2025. — — Common Stock $0.00001 par value, 40,000,000 shares authorized, 14,549,250 shares issued and outstanding as of May 4, 2025 and 14,786,934 shares issued and outstanding as of February 2, 2025. — — Additional paid-in capital 192,267 190,510 Accumulated earnings 8,947 25,845 Stockholders' Equity 201,214 216,355 Total Liabilities and Stockholders' Equity $ 483,740 $ 532,250THE LOVESAC COMPANYCONDENSED STATEMENTS OF OPERATIONS(unaudited) Thirteen weeks ended (amounts in thousands, except per share data and share amounts) May 4,2025 May 5,2024 Net sales $ 138,373 $ 132,643 Cost of merchandise sold 64,003 60,598 Gross profit 74,370 72,045 Operating expenses: Selling, general and administrative expenses 67,117 68,403 Advertising and marketing 18,594 17,996 Depreciation and amortization 3,613 3,502 Total operating expenses 89,324 89,901 Operating loss (14,954 ) (17,856 ) Interest and other income, net 325 744 Net loss before taxes (14,629 ) (17,112 ) Income tax benefit 3,789 4,152 Net loss $ (10,840 ) $ (12,960 ) Net loss per common share: Basic $ (0.73 ) $ (0.83 ) Diluted $ (0.73 ) $ (0.83 ) Weighted average shares outstanding: Basic 14,792,080 15,537,823 Diluted 14,792,080 15,537,823THE LOVESAC COMPANYCONDENSED STATEMENT OF CASH FLOWS(unaudited) Thirteen weeks ended (amounts in thousands) May 4,2025 May 5,2024 Cash Flows from Operating Activities Net loss $ (10,840 ) $ (12,960 ) Adjustments to reconcile net loss to cash used in operating activities: Depreciation and amortization of property and equipment 3,545 3,391 Amortization of other intangible assets 68 111 Amortization of deferred financing fees 19 36 Net loss on disposal of property and equipment 21 43 Equity based compensation 2,501 1,152 Non-cash lease expense 6,684 6,104 Deferred income taxes (3,637 ) (4,185 ) Change in operating assets and liabilities: Trade accounts receivable 3,759 6,287 Merchandise inventories (593 ) 3,727 Prepaid expenses and other current assets 5,137 (1,067 ) Other assets 935 (1,685 ) Accounts payable (27,228 ) (2,856 ) Accrued expenses and other payables (15,720 ) (5,075 ) Operating lease liabilities (6,417 ) (3,874 ) Customer deposits 389 3,837 Net cash used in operating activities (41,377 ) (7,014 ) Cash Flows from Investing Activities Purchase of property and equipment (8,577 ) (7,296 ) Payments for patents and trademarks (124 ) (8 ) Net cash used in investing activities (8,701 ) (7,304 ) Cash Flows from Financing Activities Taxes paid for net share settlement of equity awards (744 ) (356 ) Repurchases of common stock (6,000 ) — Payment of deferred financing costs (12 ) — Net cash used in financing activities (6,756 ) (356 ) Net change in cash and cash equivalents (56,834 ) (14,674 ) Cash and cash equivalents - Beginning 83,734 87,036 Cash and cash equivalents - Ending $ 26,900 $ 72,362 Supplemental Cash Flow Data: Cash paid for taxes $ — $ 10 Cash paid for interest $ 40 $ 30 Non-cash investing and financing activities: Asset acquisitions not yet paid for at period end $ 519 $ 2,142 Leasehold improvements acquired through lease incentive $ 1,824 $ — Excise tax on share repurchases, accrued but not paid $ 58 $ —THE LOVESAC COMPANYRECONCILIATION OF NON-GAAP FINANCIAL MEASURES(unaudited) Thirteen weeks ended (amounts in thousands) May 4,2025 May 5,2024 Net loss $ (10,840 ) $ (12,960 ) Interest income, net (327 ) (744 ) Income tax benefit (3,789 ) (4,152 ) Depreciation and amortization 3,613 3,502 EBITDA (11,343 ) (14,354 ) Equity-based compensation (a) 2,622 1,203 Loss on disposal of assets (b) 21 43 Other non-recurring expenses (c) 253 2,850 Adjusted EBITDA $ (8,447 ) $ (10,258 )(a) Represents expenses, such as compensation expense and employer taxes related to RSU equity vesting and exercises associated with stock options and restricted stock units granted to our associates and board of directors. Employer taxes are included as part of selling, general and administrative expenses on the Statements of Operations. (b) Represents loss on disposal of property and equipment. (c) Other non-recurring expenses in the thirteen weeks ended May 4, 2025 represents professional fees related to the restatement of previously issued financial statements, severance, and expenses associated with other legal matters, partially offset by benefits related to insurance proceeds. Other non-recurring expenses in the thirteen weeks ended May 5, 2024 represents professional fees related to the restatement of previously issued financial statements and severance, partially offset by benefits related to insurance proceeds and other legal in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
10-06-2025
- Entertainment
- Yahoo
Gloria Estefan's New Album 'Raíces' Is All About Family
Gloria Estefan made her return to music with "Raíces," a new album rooted in family and heritage, and one track was significant, dedicated to her grandson. After spending decades largely out of the spotlight, the award-winning singer brought fans to their feet with a nostalgic performance at the American Music Awards. Gloria Estefan, who shares two children with husband Emilio, crafted "Raíces" as a musical love letter to the people who have shaped her life. Gloria's latest album, "Raíces," may be a family affair, but one track in particular held deep personal meaning, a song she wrote years ago for her grandson, Sasha. While her husband wrote most of the album, she added her own voice to the project by penning a heartfelt ballad titled "My Beautiful Boy (For Sasha)." Gloria explained that she initially wrote the song during a quiet moment in Vero Beach, Florida while spending time with her grandson. After Sasha left, she picked up her guitar and let the emotions pour out. PEOPLE reported that Gloria realized years later that the track finally had a home while recording the album. In her words: "I go, 'Oh my God. It's just a perfect fit, because we're talking about our roots, where we come from,' and these are the things that I want to pass on to him. He's the latest gift in our family and one that is the joy of my life." Gloria and Emilio raised two children who not only carried on the family name but also carved out their spots in the entertainment world. The couple's son, Nayib, born in 1980, was drawn to both film and music from an early age. The Miami native studied at the Los Angeles Film School and appeared in projects like "Punks" and "Yearbook," eventually earning a soundtrack credit in the Sundance short "The Sun Like a Big Dark Animal." But his passion did not stop there; he also opened a drive-in theater in his hometown and regularly performed under the name DJ Monkey. Their daughter, Emily, born in 1994, also entered the music world on her terms. A graduate of Berklee College of Music, she released her debut album, "Take Whatever You Want," in 2017, with a sound that differed significantly from her mother's. Emily is not just a singer; she is a multi-instrumentalist, producer, and podcast host who has also launched her indie label, Alien Shrimp Records. The label signed a distribution deal with Sony RED in 2016. Gloria made a strong return to the spotlight ahead of releasing her album Raíces, taking the stage at the American Music Awards for the first time in three decades. The Blast reported that Jennifer Lopez introduced the legendary artist, who stunned in a black velvet jumpsuit paired with a shimmering mesh top. She kicked off her performance with a crowd favorite, "The Rhythm is Gonna Get You," followed by her new track, "La Vecina," and wrapped up with the high-energy classic "Conga." Before stepping onstage, Gloria shared her excitement about returning to perform at such a major event. "Oh, it's fantastic; it's my 50th year in the business. I can't believe it," she gushed. who danced throughout the set, praised Gloria in an earlier interview, calling her "a pioneer who opens the door and people's consciousness to accept certain things." Before she introduced Gloria at the 2025 American Music Awards, was once the topic of conversation, thanks to remarks she made about the 2020 Super Bowl halftime show she co-headlined with Shakira. The Blast reported that when asked how she felt about Netflix documentary comment suggesting the halftime show should have featured just one artist, Gloria kept it honest. "You have like 12 minutes or something to get things on and off the set," she explained, noting that while a solo act could work, the NFL likely wanted a "Miami and Latin extravaganza." "They tried to pack in as much as possible, and they killed it. An amazing show," she added. Gloria, who was invited to perform but declined, also added a little humor, saying, "Imagine what J. Lo would have said if I had been a third! I literally would've come out, done 'Shake Your Body' ['Conga'] and out." The actress did not hold back when it came to how she really felt about sharing the 2020 Super Bowl halftime stage with Shakira, and she made her thoughts crystal clear in her Netflix documentary "Halftime." While mapping out the show with her music director, Kim Burse, she criticized the decision to have two headliners perform in such a tight timeframe. "This is the worst idea in the world to have two people do the Super Bowl. It was the worst idea in the world," she said. The "Hustlers" star argued that the time limit did not leave space for both artists to deliver full performances or express their messages through music. "It's not going to be a dance f-cking revue. We have to sing our message," she added. The mother-of-two also expressed her frustration directly to Shakira, saying if the NFL had planned a true co-headliner setup, they should have given the duo 20 minutes instead of splitting a standard-length show. Gloria Estefan's return proves that while time may pass, her passion for family and music remains as strong as ever.
