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Dollar Tree, Inc. Reports Results for the Third Quarter Fiscal 2021

Dollar Tree, Inc. Reports Results for the Third Quarter Fiscal 2021

~ Consolidated Net Sales Increased 3.9% to $6.42 Billion ~

~ Same-Store Sales: Enterprise +1.6%; Family Dollar +2.7%; Dollar Tree +0.6% ~

~ Diluted Earnings per Share of $0.96 ~

~ Company Announces Addition of $1.25 Price Point for All Dollar Tree Stores Nationwide by End of Fiscal Q1 2022 ~

CHESAPEAKE, Va.–(BUSINESS WIRE)–
Dollar Tree, Inc. (NASDAQ: DLTR), today reported financial results for its third quarter ended October 30, 2021.

“We experienced a strong finish to the quarter, as shoppers are increasingly focused on value in this inflationary environment,” stated Michael Witynski, President and Chief Executive Officer. “Our Dollar Tree pricing tests have demonstrated broad consumer acceptance of the new price point and excitement about the additional offerings and extreme value we will be able to provide. Accordingly, we have begun rolling out the $1.25 price point at all Dollar Tree stores nationwide. The continuing expansion of our key strategic initiatives, including Dollar Tree Plus, Combo Stores and the H2 format, are all going well and on, or ahead of, plan. I am very proud of our team’s efforts – especially those in our stores and distribution centers – to serve our customers by delivering incredible value on everyday products.”

Third Quarter Results

Consolidated net sales increased 3.9% to $6.42 billion from $6.18 billion in the prior year’s third quarter. Enterprise same-store sales increased 1.6%, and increased 6.7% on a two-year stacked basis. Dollar Tree same-store sales increased 0.6% on a constant currency basis (or 0.8% when adjusted to include the impact of Canadian currency fluctuations). Same-store sales for Family Dollar increased 2.7%, cycling the strong 6.4% increase in the prior year’s quarter.

Gross profit was $1.76 billion for the quarter. Gross margin was 27.5% of net sales, compared to 31.2% in the prior year’s quarter. The decrease in gross margin was driven primarily by higher freight costs, partially offset by improved shrink results.

Selling, general and administrative expenses improved 100 basis points to 22.7% of total revenue compared to 23.7% in the prior year’s third quarter. The Company was cycling COVID-19-related costs of $35.3 million, or 57 basis points, in the prior year’s quarter.

Operating income for the quarter was $310.5 million compared with $465.5 million in the same period last year and operating income margin was 4.8% in the current quarter compared to 7.5% in last year’s quarter.

Net income was $216.8 million in the third quarter and diluted earnings per share for the quarter was $0.96, compared to $1.39 per share in the prior year’s quarter.

The Company opened 125 new stores, expanded or relocated 34 stores, and closed 23 stores. Additionally, the Company completed 450 renovations to the Family Dollar H2 or Combo Store formats. Retail selling square footage at quarter-end was approximately 127.9 million square feet.

The Company did not repurchase shares during the quarter as it was preparing for the announcement and launch of its broader nationwide $1.25 price point initiative.

First Nine Months Results

Consolidated net sales increased 2.6% to $19.23 billion from $18.74 billion in the same period last year. Enterprise same-store sales increased 0.4% on a constant currency basis (or 0.5% when adjusted to include the impact of Canadian currency fluctuations). Dollar Tree same-store sales increased 1.7% on a constant currency basis (or 1.8% when adjusted for Canadian currency fluctuations). Same-store sales for Family Dollar decreased 0.8%, cycling a strong 11.2% increase in the same period a year ago.

Gross profit for the first nine months was $5.59 billion. Gross margin was 29.1% of net sales, compared to 30.1% in the prior year period.

Selling, general and administrative expenses improved to 22.7% of total revenue compared to 23.7% in the first nine months of 2020.

Operating income for the period improved 2.2% to $1.23 billion. Operating income margin was 6.4% for both the current year period and the prior year period.

Net income compared to the prior year period improved 4.1% to $873.7 million and diluted earnings per share increased 7.6% to $3.80 compared to $3.53 in the prior year period.

The Company repurchased 9,156,898 shares in the first nine months of fiscal 2021 for $950 million.

Update on $1.25 Price Point at Dollar Tree Stores

For 35 years, Dollar Tree has managed through inflationary periods to maintain the everything-for-one-dollar philosophy that distinguished Dollar Tree and made it one of the most successful retail concepts for three decades. However, as detailed in its September announcement, the Company believes this is the appropriate time to shift away from the constraints of the $1.00 price point in order to continue offering extreme value to customers. This decision is permanent and is not a reaction to short-term or transitory market conditions.

The $1.25 price point, which will apply to a majority of Dollar Tree’s assortment, will enhance the Company’s ability to materially expand its offerings, introduce new products and sizes, and provide families with more of their daily essentials. The Company will have greater flexibility to continue providing incredible value that helps customers get the everyday items they need and celebratory and seasonal products Dollar Tree is best known for.

Additionally, this new pricing strategy enables the Company to reintroduce many customer favorites and key traffic-driving products that were previously discontinued due to the constraints of the $1.00 price point.

The new price point will enable Dollar Tree to return to its historical gross margin range by mitigating historically-high merchandise cost increases, including freight and distribution costs, as well as higher operating costs, such as wage increases.

The Company’s leadership team has been planning for the expansion of the initiative since late summer 2021. In September, the Company announced its plan to add additional price points above $1.00 to all Dollar Tree Plus stores and – on a test-and-learn basis – to selected legacy Dollar Tree stores. The Company was very encouraged by the positive customer feedback and store performance during the initial testing phase, and has since introduced the initiative in nearly 200 additional legacy Dollar Tree stores.

The results to date have been overwhelmingly positive. When surveyed, 77% of shoppers indicated they were almost immediately aware of the new price point when visiting the store. Additionally, 91% of those surveyed indicated they would shop Dollar Tree with the same or increased frequency. Many have also indicated they are seeing price increases across the market and that Dollar Tree is still providing the products they need at an undeniable value. As key traffic-driving products are reintroduced, the Company is confident that customers will be extremely pleased with the even greater value they will discover on store shelves.

The Company is focused on aggressively executing its plan to roll out the new price point across the chain with speed, clarity, and focus. The Company plans to introduce the new price point in more than 2,000 additional legacy Dollar Tree stores in December and complete the rollout to all stores by the end of the first fiscal quarter of 2022. Concurrently, the Company’s merchants are working to enhance the offerings to drive traffic, capture market share, and further grow customer loyalty.

“Lifting the one-dollar constraint represents a monumental step for our organization and we are enthusiastic about the opportunity to meaningfully improve our shoppers’ experience and unlock value for our stakeholders,” Witynski added. “Guided by Dollar Tree’s same founding principles, we will be relentless in our commitment to offer our customers the best value possible.”

Company Outlook and Liquidity

For the third quarter of 2021, freight costs were significantly higher than expected. The Company’s earnings per share for the third quarter was at the high end of its range, as the performance of the rest of the business offset these higher freight costs.

The Company estimates consolidated net sales for the fourth quarter of 2021 will range from $7.02 billion to $7.18 billion, based on a low single-digit increase in same-store sales for the combined enterprise. Diluted earnings per share are estimated to be in the range of $1.69 to $1.79.

Consolidated net sales for full-year fiscal 2021 are expected to range from $26.25 billion to $26.41 billion, based on a low single-digit increase in same-store sales and 3.3% square footage growth. The Company now estimates diluted earnings per share will range from $5.48 to $5.58.

The fourth quarter outlook reflects the higher cost structure the Company experienced in the third quarter. These higher freight costs are expected to be offset by the benefit of the performance of Dollar Tree stores that transition to the $1.25 price point. This benefit is partially offset initially by one-time costs to convert the stores.

While much of the focus has been on transpacific ocean container rates, the Company is being impacted by all aspects of freight, including higher costs for inland transportation by truck and rail. In the third quarter, the Company moved more containers than originally planned and therefore leveraged the spot market at rates and frequency higher than forecasted.

Freight and supply chain disruptions continue to be the Company’s biggest challenge in the near term. The Company believes much of these freight challenges are transitory. As detailed in the Company’s second quarter earnings announcement, it is taking robust action to mitigate the impact of the current freight environment on its operations. The rest of the business is performing much better in the near term.

Outstanding debt, as of October 30, was $3.25 billion. The Company ended the quarter with approximately $701 million in cash and cash equivalents on its balance sheet and expects capital expenditures for fiscal 2021 will total approximately $1.1 billion. The Company currently has $2.5 billion remaining on its share repurchase authorization.

“We are making great progress on our key strategic initiatives – Dollar Tree Plus, Combo Stores and the H2 format – and, as previously announced, we are accelerating these initiatives in 2022. The additional price point at Dollar Tree affords us greater flexibility to manage the overall business, especially in a volatile, inflationary environment, while driving customer loyalty and store productivity,” Witynski concluded. “In this environment, we believe small-box, value retail is more important than any other retail sector to millions of households. We believe we are well-positioned to see continued momentum in our Family Dollar business, and expect the Dollar Tree banner to return to its historical gross margin range of 35% to 36% in fiscal 2022.”

Conference Call Information

On Tuesday, November 23, 2021, the Company will host a conference call to discuss its earnings results at 9:00 a.m. Eastern Time. The telephone number for the call is 800-367-2403. A recorded version of the call will be available until midnight Monday, November 29, 2021, and may be accessed by dialing 888-203-1112. The access code is 6122110. A webcast of the call is accessible through Dollar Tree’s website and will remain online through Monday, November 29, 2021.

Dollar Tree, a Fortune 200 Company, operated 15,966 stores across 48 states and five Canadian provinces as of October 30, 2021. Stores operate under the brands of Dollar Tree, Family Dollar, and Dollar Tree Canada. To learn more about the Company, visit www.DollarTree.com and www.FamilyDollar.com.

A WARNING ABOUT FORWARD-LOOKING STATEMENTS: Our press release contains “forward-looking statements” as that term is used in the Private Securities Litigation Reform Act of 1995. Forward-looking statements can be identified by the fact that they address future events, developments or results and do not relate strictly to historical facts. Any statements contained in this press release that are not statements of historical fact may be deemed to be forward-looking statements. Forward-looking statements include, without limitation, statements preceded by, followed by or including words such as: “aim”, “believe”, “anticipate”, “expect”, “intend”, “plan”, “view”, “target” or “estimate”, “may”, “will”, “should”, “predict”, “possible”, “potential”, “continue”, “strategy”, and similar expressions. For example, our forward-looking statements include statements regarding our plans and expectations relating to the introduction of additional price points above $1.00 (such as $1.25) in our Dollar Tree stores; our plans and expectations concerning various initiatives, including the expansion of Dollar Tree Plus, Family Dollar H2 stores and Combo Stores (which are dependent on supply chain performance and continued store performance); our expectations of continued volatility and uncertainty related to the COVID-19 pandemic, inflation, and other macroeconomic factors; our estimates and assumptions for consolidated net sales, comparable store net sales and diluted earnings per share for the fourth quarter and full-year fiscal 2021; our expectations of store square footage growth for fiscal 2021; our expectations of higher freight costs for the fourth quarter and full-year fiscal 2021, including an expected offset of higher freight costs as a result of transitioning to the $1.25 price point in Dollar Tree stores and our efforts to mitigate the effects of higher freight costs; our expectations regarding the duration and impact of continued freight, shipping and other supply chain disruptions on our future performance and results of operations; our expectations regarding capital expenditures and share repurchases for fiscal 2021; our expectation that the Dollar Tree banner will return to its historical gross margin range in fiscal 2022; and our other plans, objectives, expectations (financial and otherwise) and intentions. These statements are subject to risks and uncertainties. For a discussion of the risks, uncertainties and assumptions that could affect our future events, developments or results, you should carefully review the “Risk Factors,” “Business” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” sections in our Annual Report on Form 10-K filed March 16, 2021, our Form 10-Q for the most recently ended fiscal quarter and other filings we make from time to time with the Securities and Exchange Commission. We are not obligated to release publicly any revisions to any forward-looking statements contained in this press release to reflect events or circumstances occurring after the date of this report and you should not expect us to do so.

DOLLAR TREE, INC.
Condensed Consolidated Income Statements
(In millions, except per share data)
(Unaudited)
 
13 Weeks Ended 39 Weeks Ended

October 30, 2021

 

October 31, 2020

 

October 30, 2021

 

October 31, 2020
Net sales

$

6,415.4

 

$

6,176.7

 

$

19,232.4

 

$

18,741.1

 

 
Other revenue

 

2.3

 

 

0.3

 

 

8.2

 

 

0.3

 

 
Total revenue

 

6,417.7

 

 

6,177.0

 

 

19,240.6

 

 

18,741.4

 

 
Cost of sales

 

4,651.7

 

 

4,252.6

 

 

13,643.6

 

 

13,105.9

 

 
Selling, general and administrative expenses

 

1,455.5

 

 

1,458.9

 

 

4,364.4

 

 

4,429.2

 

 

22.7

%

 

23.7

%

 

22.7

%

 

23.7

%

 
Operating income

 

310.5

 

 

465.5

 

 

1,232.6

 

 

1,206.3

 

 

4.8

%

 

7.5

%

 

6.4

%

 

6.4

%

 
Interest expense, net

 

33.4

 

 

38.1

 

 

99.4

 

 

113.1

 

Other expense, net

 

0.2

 

 

0.1

 

 

0.2

 

 

0.8

 

 
Income before income taxes

 

276.9

 

 

427.3

 

 

1,133.0

 

 

1,092.4

 

 

4.3

%

 

6.9

%

 

5.9

%

 

5.8

%

 
Provision for income taxes

 

60.1

 

 

97.3

 

 

259.3

 

 

253.3

 

Income tax rate

 

21.7

%

 

22.8

%

 

22.9

%

 

23.2

%

 
Net income

$

216.8

 

$

330.0

 

$

873.7

 

$

839.1

 

 

3.4

%

 

5.3

%

 

4.5

%

 

4.5

%

 
Net earnings per share:
Basic

$

0.96

 

$

1.39

 

$

3.82

 

$

3.54

 

Weighted average number of shares

 

224.9

 

 

236.8

 

 

228.9

 

 

237.0

 

 
Diluted

$

0.96

 

$

1.39

 

$

3.80

 

$

3.53

 

Weighted average number of shares

 

225.8

 

 

237.9

 

 

229.9

 

 

237.8

 

 
DOLLAR TREE, INC.
Segment Information
(In millions, except store count)
(Unaudited)
 

13 Weeks Ended

 

39 Weeks Ended

October 30, 2021

 

October 31, 2020

 

October 30, 2021

 

October 31, 2020
Net sales:
Dollar Tree

$

3,417.4

 

$

3,303.2

 

$

10,003.0

 

$

9,557.6

 

Family Dollar

 

2,998.0

 

 

2,873.5

 

 

9,229.4

 

 

9,183.5

 

Total net sales

$

6,415.4

 

$

6,176.7

 

$

19,232.4

 

$

18,741.1

 

 
Gross profit:
Dollar Tree

$

1,031.1

 

30.2

%

$

1,154.2

 

34.9

%

$

3,207.1

 

32.1

%

$

3,206.8

 

33.6

%

Family Dollar

 

732.6

 

24.4

%

 

769.9

 

26.8

%

 

2,381.7

 

25.8

%

 

2,428.4

 

26.4

%

Total gross profit

$

1,763.7

 

27.5

%

$

1,924.1

 

31.2

%

$

5,588.8

 

29.1

%

$

5,635.2

 

30.1

%

 
Operating income (loss):
Dollar Tree

$

290.5

 

8.5

%

$

417.9

 

12.7

%

$

1,019.2

 

10.2

%

$

1,006.5

 

10.5

%

Family Dollar

 

88.6

 

3.0

%

 

131.4

 

4.6

%

 

456.3

 

4.9

%

 

472.0

 

5.1

%

Corporate, support and Other

 

(68.6

)

(1.1

%)

 

(83.8

)

(1.4

%)

 

(242.9

)

(1.3

%)

 

(272.2

)

(1.5

%)

Total operating income

$

310.5

 

4.8

%

$

465.5

 

7.5

%

$

1,232.6

 

6.4

%

$

1,206.3

 

6.4

%

 

13 Weeks Ended

 

39 Weeks Ended

October 30, 2021

 

October 31, 2020

 

October 30, 2021

 

October 31, 2020

Dollar

Tree

 

Family

Dollar

 

Total

 

Dollar

Tree

 

Family

Dollar

 

Total

 

Dollar

Tree

 

Family

Dollar

 

Total

 

Dollar

Tree

 

Family

Dollar

 

Total
Store Count:
Beginning

 

7,934

 

7,931

 

 

15,865

 

7,652

 

 

7,827

 

15,479

 

 

7,805

 

7,880

 

15,685

 

7,505

 

7,783

 

15,288

 

New stores

 

62

 

63

 

 

125

 

95

 

 

48

 

143

 

 

214

 

148

 

362

 

262

 

111

 

373

 

Re-bannered stores (a)

 

(1

)

–

 

 

(1

)

–

 

 

–

 

–

 

 

(1

)

(1

)

(2

)

(3

)

4

 

1

 

Closings

 

(11

)

(12

)

 

(23

)

(6

)

 

(10

)

(16

)

 

(34

)

(45

)

(79

)

(23

)

(33

)

(56

)

Ending

 

7,984

 

7,982

 

 

15,966

 

7,741

 

 

7,865

 

15,606

 

 

7,984

 

7,982

 

15,966

 

7,741

 

7,865

 

15,606

 

Selling Square Footage (in millions)

 

69.1

 

58.8

 

 

127.9

 

66.7

 

 

57.6

 

124.3

 

 

69.1

 

58.8

 

127.9

 

66.7

 

57.6

 

124.3

 

Growth Rate (Square Footage)

 

3.6

%

2.1

%

 

2.9

%

4.1

%

 

1.2

%

2.7

%

 

3.6

%

2.1

%

2.9

%

4.1

%

1.2

%

2.7

%

 
(a) Stores are included as re-banners when they close or open, respectively.
 
DOLLAR TREE, INC.
Condensed Consolidated Balance Sheets
(In millions)
(Unaudited)
 
October 30, 2021 January 30, 2021 October 31, 2020
Cash and cash equivalents

$

701.4

$

1,416.7

$

1,118.3

Merchandise inventories

 

4,316.0

 

3,427.0

 

3,792.3

Other current assets

 

357.1

 

207.1

 

260.4

Total current assets

 

5,374.5

 

5,050.8

 

5,171.0

 
Property, plant and equipment, net

 

4,377.4

 

4,116.3

 

4,095.6

Restricted cash

 

53.4

 

46.9

 

46.9

Operating lease right-of-use assets

 

6,424.0

 

6,324.1

 

6,185.1

Goodwill

 

1,985.3

 

1,984.4

 

1,983.1

Trade name intangible asset

 

3,100.0

 

3,100.0

 

3,100.0

Deferred tax asset

 

22.3

 

23.2

 

23.3

Other assets

 

53.1

 

50.3

 

47.2

 
Total assets

$

21,390.0

$

20,696.0

$

20,652.2

 
Current portion of long-term debt

$

–

$

–

$

300.0

Current portion of operating lease liabilities

 

1,388.0

 

1,348.2

 

1,296.5

Accounts payable

 

1,984.8

 

1,480.5

 

1,587.2

Income taxes payable

 

–

 

86.3

 

–

Other current liabilities

 

918.4

 

815.3

 

858.6

Total current liabilities

 

4,291.2

 

3,730.3

 

4,042.3

 
Long-term debt, net, excluding current portion

 

3,231.1

 

3,226.2

 

3,225.3

Operating lease liabilities, long-term

 

5,151.0

 

5,065.5

 

4,962.1

Deferred income taxes, net

 

1,096.8

 

1,013.5

 

1,043.1

Income taxes payable, long-term

 

26.4

 

22.6

 

31.0

Other liabilities

 

349.1

 

352.6

 

387.3

 
Total liabilities

 

14,145.6

 

13,410.7

 

13,691.1

 
Shareholders’ equity

 

7,244.4

 

7,285.3

 

6,961.1

 
Total liabilities and shareholders’ equity

$

21,390.0

$

20,696.0

$

20,652.2

 

The January 30, 2021 information was derived from the audited consolidated financial statements as of that date.

DOLLAR TREE, INC.
Condensed Consolidated Statements of Cash Flows
(In millions)
(Unaudited)
 
39 Weeks Ended
October 30, 2021 October 31, 2020
Cash flows from operating activities:
Net income

$

873.7

 

$

839.1

 

Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization

 

527.3

 

 

503.7

 

Provision for deferred income taxes

 

85.0

 

 

59.4

 

Stock-based compensation expense

 

63.1

 

 

70.5

 

Amortization of debt discount and debt-issuance costs

 

4.9

 

 

3.1

 

Other non-cash adjustments to net income

 

8.6

 

 

7.4

 

Changes in operating assets and liabilities

 

(543.9

)

 

250.5

 

Total adjustments

 

145.0

 

 

894.6

 

Net cash provided by operating activities

 

1,018.7

 

 

1,733.7

 

 
Cash flows from investing activities:
Capital expenditures

 

(749.6

)

 

(707.0

)

Proceeds from governmental grant

 

2.9

 

 

–

 

Proceeds from (payments for) fixed asset disposition

 

0.4

 

 

(0.5

)

Net cash used in investing activities

 

(746.3

)

 

(707.5

)

 
Cash flows from financing activities:
Principal payments for long-term debt

 

–

 

 

(250.0

)

Proceeds from revolving credit facility

 

–

 

 

750.0

 

Repayments of revolving credit facility

 

–

 

 

(750.0

)

Proceeds from stock issued pursuant to stock-based compensation plans

 

9.0

 

 

14.3

 

Cash paid for taxes on exercises/vesting of stock-based compensation

 

(40.6

)

 

(16.8

)

Payments for repurchase of stock

 

(950.0

)

 

(194.2

)

Net cash used in financing activities

 

(981.6

)

 

(446.7

)

Effect of exchange rate changes on cash, cash equivalents and restricted cash

 

0.4

 

 

(0.3

)

Net increase (decrease) in cash, cash equivalents and restricted cash

 

(708.8

)

 

579.2

 

Cash, cash equivalents and restricted cash at beginning of period

 

1,463.6

 

 

586.0

 

Cash, cash equivalents and restricted cash at end of period

$

754.8

 

$

1,165.2

 

 

Dollar Tree, Inc.

Randy Guiler, 757-321-5284

Vice President, Investor Relations

www.DollarTree.com

DLTR-E

KEYWORDS: District of Columbia Virginia United States North America

INDUSTRY KEYWORDS: Food/Beverage Home Goods Discount/Variety Retail Convenience Store

MEDIA:

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Mesoblast Corporate Update and Financial Results Webcast

NEW YORK, Nov. 23, 2021 (GLOBE NEWSWIRE) — Mesoblast Limited (Nasdaq:MESO; ASX:MSB), global leader in allogeneic cellular medicines for inflammatory diseases, will host a webcast to discuss operational highlights and financial results for the first quarter ended September 30, 2021.

The webcast will begin at 5.00pm EST, Tuesday, November 23; 9.00am AEDT, Wednesday, November 24, 2021. It can be accessed via: https://webcast.openbriefing.com/8205/

The archived webcast will be available on the Investor page of the Company’s website: www.mesoblast.com

About Mesoblast

Mesoblast is a world leader in developing allogeneic (off-the-shelf) cellular medicines for the treatment of severe and life-threatening inflammatory conditions. The Company has leveraged its proprietary mesenchymal lineage cell therapy technology platform to establish a broad portfolio of late-stage product candidates which respond to severe inflammation by releasing anti-inflammatory factors that counter and modulate multiple effector arms of the immune system, resulting in significant reduction of the damaging inflammatory process.

Mesoblast has a strong and extensive global intellectual property portfolio with protection extending through to at least 2041 in all major markets. The Company’s proprietary manufacturing processes yield industrial-scale, cryopreserved, off-the-shelf, cellular medicines. These cell therapies, with defined pharmaceutical release criteria, are planned to be readily available to patients worldwide.

Mesoblast is developing product candidates for distinct indications based on its remestemcel-L and rexlemestrocel-L stromal cell technology platforms. Remestemcel-L is being developed for inflammatory diseases in children and adults including steroid refractory acute graft versus host disease and moderate to severe acute respiratory distress syndrome. Rexlemestrocel-L is in development for advanced chronic heart failure and chronic low back pain. Two products have been commercialized in Japan and Europe by Mesoblast’s licensees, and the Company has established commercial partnerships in Europe and China for certain Phase 3 assets.

Mesoblast has locations in Australia, the United States and Singapore and is listed on the Australian Securities Exchange (MSB) and on the Nasdaq (MESO). For more information, please see www.mesoblast.com, LinkedIn: Mesoblast Limited and Twitter: @Mesoblast

Release authorized by the Chief Executive.

For more information, please contact:


Corporate Communications / Investors
Media
Paul Hughes Sumit Media
T: +61 3 9639 6036 Grant Titmus
E: [email protected] T: +61 419 388 161
  E: [email protected]
   
  Rubenstein
  Alex Davis-Isaac
  E: [email protected]
   



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Wingstop Opens First Restaurant in Manhattan

The brand opened its first Manhattan ghost kitchen in Times Square with more than 20 additional locations in the pipeline

PR Newswire

DALLAS, Nov. 23, 2021 /PRNewswire/ — Wingstop (NASDAQ: WING) announced plans in July to develop the Manhattan, NY area in a company-owned strategy that includes an asset mix of traditional locations and ghost kitchens, with more than 20 upcoming openings over the course of three years. The brand believes its entrance into Manhattan presents an opportunity to invest capital and deliver great returns for shareholders by participating in Wingstop’s best-in-class unit economics. 

“The opening of Manhattan builds upon our strong development pipeline that has delivered record setting development each quarter in 2021,” said Wingstop CEO and chairman Charlie Morrison. “With the combination of ghost kitchens and traditional locations in Manhattan, we’re following a proven playbook similar to our UK market, which now has AUVs at more than two million dollars, surpassing our domestic average.”

With the launch of Wingstop’s first ghost kitchen in the UK in June 2020, the brand has seen promising results throughout its ghost kitchen portfolio. Ghost kitchens create an opportunity to penetrate areas with high real estate costs or lower inventory of retail space.

The success experienced in the UK serves as fuel as the brand looks to replicate the archetype strategy in markets outside of Manhattan, including San Francisco, where Wingstop has an existing, small high street presence and one ghost kitchen.

Wingstop’s entry into Manhattan follows four record quarters for development –with 49 net new restaurants in Q3 2021 – as well as an all-time high development year in 2020 with 153 net new restaurants and more than 700 restaurants commitments from brand partners.

About Wingstop

Founded in 1994 and headquartered in Dallas, TX, Wingstop Inc. (NASDAQ: WING) operates and franchises over 1,500 locations worldwide. The Wing Experts are dedicated to Serving the World Flavor through an unparalleled guest experience and offering of classic wings, boneless wings and tenders, always cooked to order and hand-sauced-and-tossed in fans’ choice of 11 bold, distinctive flavors. Wingstop’s menu also features signature sides including fresh-cut, seasoned fries and freshly-made ranch and bleu cheese dips.

In fiscal year 2020, Wingstop’s system-wide sales increased 28.8% year-over-year to approximately $2.0 billion, marking the 17th consecutive year of same store sales growth, and Wingstop achieved over 700% stockholder return since its 2015 initial public offering. With a vision of becoming a Top 10 Global Restaurant Brand, its system is comprised of independent franchisees, or brand partners, who account for approximately 98% of Wingstop’s total restaurant count of 1,673 as of September 25, 2021. During the fiscal quarter ended September 25, 2021, Wingstop opened 49 net new restaurants, an increase of 13.1%, and announced domestic same-store sales increased 3.9%. During the fiscal quarter ended September 25, 2021, Wingstop generated 61.6% of sales via digital channels including Wingstop.com and the Wingstop app.

A key to Wingstop’s success is The Wingstop Way, which includes a core value system of being Authentic, Entrepreneurial, Service-minded, and Fun. This value system extends to its environmental, social, governance platform as Wingstop seeks to provide value to all stakeholders.

The Company has been ranked on Entrepreneur Magazine’s “150 Strongest-Growing Franchises” and “The World’s Best Franchises” (2020), Franchise Business Review’s “Top Food Franchises” (2020), Nation’s Restaurant News’ “Top 200 Restaurant Chains” (2020), Fast Casual’s “Top 100 Movers & Shakers” (2020), and named to The Stevie Awards for Great Employers (2020).

For more information visit www.wingstop.com or www.wingstop.com/own-a-wingstop and follow @Wingstop on Twitter and Instagram and at Facebook.com/Wingstop. Learn more about Wingstop’s involvement in its local communities at www.wingstopcharities.org.   

Media Contact

Megan Sprague

[email protected]

Click here for media assets

Investor Contact

Susana Arevalo

972-331-8484
[email protected]

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SOURCE Wingstop Restaurants Inc.

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The New Generation Gap: Nationwide Survey Finds Different Perspectives on Anxiety Between Parents, Young Adults

GeneSight Mental Health Monitor finds many parents struggle to know the difference between teenage behavior and a mental health challenge

SALT LAKE CITY, Nov. 23, 2021 (GLOBE NEWSWIRE) — One of the biggest issues parents of teenagers may face is determining if their child is experiencing a mental health challenge or ordinary “growing pains.”

Only half of parents* with children ages 16 to 24 said they are very or completely confident they can tell the difference between normal adolescent challenges and a mental health condition, according to the GeneSight® Mental Health Monitor from Myriad Genetics, Inc. (NASDAQ: MYGN), a leader in genetic testing and precision medicine.

Further, nearly one in three parents believe that “anxiety” and “worry” are the same thing.

“Anxiety and worry are not the same thing. Worry is situational. Anxiety is persistent and excessive – and it doesn’t go away when the specific cause of stress or distress is gone,” said Debbie Thomas, EdD, APRN, based in Louisville, Ky. “Every day in my practice I see children and young adults and/or their parents who have unintentionally ignored or minimized the symptoms of anxiety until they become a crisis. The best outcomes occur when we don’t wait until anxiety becomes all-consuming and life-disrupting.”

The importance of communication

The first step in helping your child with mental health challenges is communication. However, just over half of parents think their child would be comfortable talking with them about their mental health struggles. This is echoed by the 16- to 24-year-olds* surveyed — one in five said they wouldn’t tell anyone about their struggles with mental health.

“As many parents of teens know, your kids may stop confiding in you. Yet, the GeneSight Mental Health Monitor shows how vital mental health conversations are,” said Mark Pollack, MD, chief medical officer for Mental Health at Myriad Genetics. “If you suspect your child’s mental health is suffering, talk to them and talk to a healthcare professional about your concerns.”

Seeking treatment

Parents may struggle with identifying and talking about mental health challenges, but the GeneSight Mental Health Monitor found that early intervention and treatment may help. Three in four young adults surveyed who have experienced a mental health challenge indicated at least some of their challenges occurred before age 18, yet half said their parents never sought treatment for them. Nearly three quarters of these young adults wish that their parents would have. When asked why:

  • 67% said they wouldn’t have suffered so much during their teenage years
  • 66% said they would be better equipped to handle their current problems
  • 64% said it would have better prepared them for adulthood

“Transitioning into adulthood is enough of a struggle – no one should have to battle their mental health at the same time,” said Dr. Thomas. “Give your child the gift of mental health treatment if they are experiencing anxiety so that they can become successful, caring and well-adjusted adults. This also lets them know it is okay, normal and optimal to seek help at other times in their life if needed – and is another positive step in destigmatizing mental healthcare.”

For more information on how genetic testing can help inform clinicians on treatment of depression, anxiety, ADHD, and other psychiatric conditions, please visit GeneSight.com.

* All mentions of “parents” refer to parents of children who are 16 to 24 years old. Similarly, “young adults” consistently refers to survey respondents who are 16 to 24 years old.

About the GeneSight

®

Mental Health Monitor

The GeneSight Mental Health Monitor is a nationwide survey of U.S. adults conducted by ACUPOLL Precision Research, Inc. in Aug.-Sept. 2021 among a statistically representative sample of adults age 21+, as well as a representative sample of parents of young adult children, and young adults ages 16-24. The margin of error in survey results for the total base population at a 95% confidence interval is +/- 3%.

About the GeneSight

®

Test

The GeneSight Psychotropic test from Myriad Genetics is the category-leading pharmacogenomic test for 61 medications commonly prescribed for depression, anxiety, ADHD, and other psychiatric conditions. The GeneSight test can help inform clinicians about how a patient’s genes may impact how they metabolize and/or respond to certain psychiatric medications. It has been given to more than 1.5 million patients by tens of thousands of clinicians to provide genetic information that is unique to each patient. The GeneSight test supplements other information considered by a clinician as part of a comprehensive medical assessment. Learn more at GeneSight.com.

About Myriad Genetics

Myriad Genetics is a leading genetic testing and precision medicine company dedicated to advancing health and wellbeing for all, empowering individuals with vital genetic insights and enabling healthcare providers to better detect, treat and prevent disease. Myriad discovers and commercializes genetic tests that determine the risk of developing disease, assess the risk of disease progression, and guide treatment decisions across medical specialties where critical genetic insights can significantly improve patient care and lower healthcare costs. For more information, visit the company’s website: www.myriad.com.

Myriad, the Myriad logo, BART, BRACAnalysis, Colaris, Colaris AP, myRisk, Myriad myRisk, myRisk Hereditary Cancer, myChoice, myPlan, BRACAnalysis CDx, Tumor BRACAnalysis CDx, myChoice CDx, Vectra, EndoPredict, Prequel, Foresight, GeneSight, riskScore and Prolaris are trademarks or registered trademarks of Myriad Genetics, Inc. or its wholly owned subsidiaries in the United States and foreign countries.

Media Contact:

Sarah DeDiemar
(513) 701-5162
[email protected]

Investor Contact:

Nathan Smith
(801) 505-5067
[email protected]



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Peabody Announces Expiration And Final Results Of Offer To Purchase Up To $15.842 Million In Aggregate Accreted Value Of Its 8.500% Senior Secured Notes Due 2024

PR Newswire

ST. LOUIS, Nov. 23, 2021 /PRNewswire/ — Peabody (NYSE: BTU) today announced the expiration and final results of its previously announced offer to purchase (the “Offer“) for cash up to $15.842 million (the “Available Repurchase Amount“) in aggregate accreted value of its 8.500% Senior Secured Notes due 2024 (the “2024 Notes“) at a purchase price equal to 73.590% of the accreted value of the 2024 Notes to be repurchased, plus accrued and unpaid interest as set forth in the Indenture (as defined below), to, but excluding, the settlement date, on the terms and subject to the conditions set forth in the Offer to Purchase, dated October 22, 2021 (the “Offer to Purchase“). Concurrently with the Offer, Peabody made a debt repurchase offer (the “Concurrent LC Agreement Offer“) under the Credit Agreement, dated as of January 29, 2021, among Peabody, the lenders party thereto from time to time and JPMorgan Chase Bank, N.A., as Administrative Agent (the “LC Agreement“).

The Offer expired at 5:00 p.m., New York City time, on November 22, 2021 (the “Expiration Time“). As of the Expiration Time, $97.00 in aggregate accreted value of the 2024 Notes had been validly tendered and not validly withdrawn prior to the Expiration Time. As of November 22, 2021, no Priority Lien Obligations (as defined in the LC Agreement) under the LC Agreement had been validly tendered and not validly withdrawn prior to the expiration date in the Concurrent LC Agreement Offer.

Subject to the Available Repurchase Amount as further described below, for each $1,000 accreted value of 2024 Notes validly tendered (and not validly withdrawn) prior to the Expiration Time and accepted by Peabody, holders of 2024 Notes will receive $735.90 in cash (the “Offer Price“), plus accrued and unpaid interest as set forth in the Indenture, to, but excluding, the settlement date.

Because the aggregate accreted value for all 2024 Notes tendered in the Offer and Priority Lien Obligations tendered in the Concurrent LC Agreement Offer collectively did not exceed the Available Repurchase Amount of $15.842 million, Peabody will purchase $97.00 aggregate accreted value of 2024 Notes pursuant to the Offer and no aggregate principal and commitment amounts of Priority Lien Obligations under the LC Agreement pursuant to the Concurrent LC Agreement Offer. Payment for such accepted 2024 Notes will be made on November 24, 2021. After giving effect to the purchase of the tendered and accepted 2024 Notes, approximately $102.926 million in aggregate accreted value of the 2024 Notes will remain outstanding.

The 2024 Notes are governed by an indenture, dated as of January 29, 2021, by and among Peabody, the guarantors party thereto (the “Guarantors“) and Wilmington Trust, National Association, as trustee (the “Trustee“) (as amended and restated by the First Supplemental Indenture, dated as of February 3, 2021, among Peabody, the Guarantors and the Trustee, and as further amended, supplemented, restated or otherwise modified to the date hereof, the “Indenture“). Under the terms of the Indenture, within 30 days of September 30, 2021, the end of Peabody’s third fiscal quarter (such fiscal quarter, the “Debt Repurchase Quarterly Period“), Peabody was obligated to offer to purchase for cash an aggregate accreted value of up to the Available Repurchase Amount of its outstanding 2024 Notes at the price described above. The Offer was intended to satisfy this requirement.

The Available Repurchase Amount for the Offer is equal to 25% of $63.371 million, which is the total aggregate principal and commitment amounts of Priority Lien Debt (as defined in the Indenture) repurchased by Peabody pursuant to open-market repurchases during the Debt Repurchase Quarterly Period. In addition, the Offer Price of $735.90 represents the price per $1,000 accreted value of Notes that is the weighted-average repurchase price for all Priority Lien Debt repurchased by Peabody during the Debt Repurchase Quarterly Period.

This announcement is not an offer to purchase or sell, or a solicitation of an offer to purchase or sell any securities in any jurisdiction in which the making or acceptance thereof would not be in compliance with the securities, blue sky or other laws of such jurisdiction.

Peabody (NYSE: BTU) is a leading coal producer, providing essential products to fuel baseload electricity for emerging and developed countries and create the steel needed to build foundational infrastructure. Our commitment to sustainability underpins our activities today and helps to shape our strategy for the future. For further information, visit PeabodyEnergy.com.

Contact:

Alice Tharenos

314.342.7890

Forward-looking Statements

This press release contains forward-looking statements within the meaning of the securities laws. Forward-looking statements can be identified by the fact that they do not relate strictly to historical or current facts. They often include words or variation of words such as “expects,” “anticipates,” “intends,” “plans,” “believes,” “seeks,” “estimates,” “projects,” “forecasts,” “targets,” “would,” “will,” “should,” “goal,” “could” or “may” or other similar expressions. Forward-looking statements provide management’s current expectations or predictions of future conditions, events or results. All statements that address operating performance, events, or developments that Peabody expects will occur in the future are forward-looking statements. They may also include estimates of sales targets, cost savings, capital expenditures, other expense items, actions relating to strategic initiatives, demand for the company’s products, liquidity, capital structure, market share, industry volume, other financial items, descriptions of management’s plans or objectives for future operations and descriptions of assumptions underlying any of the above. All forward-looking statements speak only as of the date they are made and reflect Peabody’s good faith beliefs, assumptions and expectations, but they are not guarantees of future performance or events. Furthermore, Peabody disclaims any obligation to publicly update or revise any forward-looking statement, except as required by law. By their nature, forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from those suggested by the forward-looking statements. Factors that might cause such differences include, but are not limited to, a variety of economic, competitive and regulatory factors, many of which are beyond Peabody’s control, including the ongoing impact of the COVID-19 pandemic and factors that are described in Peabody’s Annual Report on Form 10-K for the fiscal year ended Dec. 31, 2020, Peabody’s Quarterly Report on Form 10-Q for the three months ended September 30, 2021 and other factors that Peabody may describe from time to time in other filings with the SEC. You may get such filings for free at Peabody’s website at www.peabodyenergy.com. You should understand that it is not possible to predict or identify all such factors and, consequently, you should not consider any such list to be a complete set of all potential risks or uncertainties.

 

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SOURCE Peabody

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Qilian International Holding Group Limited Announces Inclusion of Gan Di Xin® and Qilian Shan® Oxytetracycline into List for Development of Leading Enterprises with Large Varieties and Brands of Pharmaceuticals of Gansu Province

PR Newswire

JIUQUAN, China, Nov. 23, 2021 /PRNewswire/ — Qilian International Holding Group Limited (Nasdaq: QLI) (the “Company”), a China-based pharmaceutical and chemical products manufacturer, today announced that Gan Di Xin® and Qilian Shan® Oxytetracycline, products of the Company’s subsidiary, Gansu Qilianshan Pharmaceutical Co., Ltd. (“Gansu QLS”), have been included in the List for Development of Leading Enterprises with Large Varieties and Brands of Pharmaceuticals of Gansu Province (the “List”). The List selects key medicines and medical devices with a goal of facilitating the development and promotion of leading pharmaceutical brands in Gansu Province.

The List was issued by the Department of Industry and Information Technology of Gansu Province (the “Department”) on October 13, 2021 with the release of the “Notice of the General Office of the People’s Government of Gansu Province on Policies and Measures to Support the Development of Leading Enterprises with Large Varieties and Brands of Pharmaceuticals of Gansu Province“. The Department has included  a total of 55 medicines and medical devices from 27 enterprises, including Gan Di Xin® and Qilian Shan® Oxytetracycline from the Company.

The List is a major strategic decision of the Gansu provincial government (the “Government”) as an effort to support the growth of local leading pharmaceutical companies. The Government expects to promote the development of local pharmaceutical industry, strengthen brand awareness for local companies and position Gansu province as a leading region for pharmaceutical industry through cultivating large pharmaceutical enterprises, enhancing the competitiveness of local pharmaceutical companies, and supporting pharmaceutical companies in Gansu province. The Government will include all the products on the List into Gansu Province Reimbursement Drug List and support the inclusion of all the products on the List in the National Essential Medicines List and National Reimbursement Drug List in China.

The Qilian Shan® and Gan Di Xin® trademarks owned by Gansu QLS are well-known domestic brands and have been favored by the market for a long time. As a global producer, manufacturer, and supplier of oxytetracycline, the Company’s oxytetracycline meets the United States Pharmacopeia (the “USP”) quality standards and their technical indicators have long been in the forefront of the industry. Based on the recognized quality as well as strong stability, coupled with efficient marketing methods, the Company’s oxytetracycline has obtained over 35% domestic market share. Gan Di Xin® is a high-tech product independently developed by the Company and its preparation method was granted a national invention patent. Gan Di Xin® has been listed in China’s State Category V New Drug with an exclusive domestic production and is a well-known product in Gansu Province and China.

The inclusion of Gansu QLS’s Gan Di Xin® and Qilian Shan® Oxytetracycline in the List affirms these products’ leading positions in the market and further enhances the Company’s brand awareness. The products, included in the List and Gansu Province Reimbursement Drug List, and recommended to be included in the National Essential Medicines List and National Reimbursement Drug List, can be sold in hospitals of all types in Gansu province and hospitals across China, thereby covering the entire national market. These products also benefit from the national medical insurance reimbursement policy, which is expected to contribute to the Company’s efforts to increase its product sales, market share, operating income, and business performance.

Mr. Zhanchang Xin, Chairman and CEO of the Company, commented, “We are excited to have Gansu QLS’s Gan Di Xin® and Qilian Shan® Oxytetracycline included in the List for Development of Leading Enterprises with Large Varieties and Brands of Pharmaceuticals of Gansu Province. This demonstrates the Government’s recognition of the value and quality of our products and gives us a tremendous boost in our confidence to continue researching and developing world class products. Looking forward, we will continue to improve and leverage the advantages of our brands such as Gansu QLS’s Gan Di Xin® and Qilian Shan® Oxytetracycline and other famous products to turn them into world-renowned brands.”

About Qilian International Holding Group Limited

Qilian International Holding Group Limited, headquartered in Gansu, China, is a pharmaceutical and chemical products manufacturer in China. It focuses on the development, manufacture, marketing and sale of licorice products, oxytetracycline products, traditional Chinese medicine derivatives product, heparin product, sausage casings, and fertilizers. The Company’s products are sold in more than 20 provinces in China. For more information, visit the Company’s website at http://ir.qlsyy.net/index.html or http://qilianinternational.com/.


Forward-Looking Statements

This announcement contains forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical fact in this announcement are forward-looking statements. These forward-looking statements involve known and unknown risks and uncertainties and are based on current expectations and projections about future events and financial trends that the Company believes may affect its financial condition, results of operations, business strategy, financial needs and the successful construction of the pig by-product processing project facility. Investors can identify these forward-looking statements by words or phrases such as “may,” “will,” “expect,” “anticipate,” “aim,” “estimate,” “intend,” “plan,” “believe,” “potential,” “continue,” “is/are likely to” or other similar expressions. The Company undertakes no obligation to update forward-looking statements to reflect subsequent occurring events or circumstances, or changes in its expectations, except as may be required by law. Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that such expectations will turn out to be correct, and the Company cautions investors that actual results may differ materially from the anticipated results and encourages investors to review other factors that may affect its future results in the Company’s registration statement and in its other filings with the SEC.

For more information, please contact:

Qilian International Holding Group Limited
Email: [email protected]

Ascent Investors Relations LLC
Tina Xiao
President
Phone: 917-609-0333
Email: [email protected]

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SOURCE Qilian International Holding Group Limited

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CEVA SensPro Sensor Hub DSP Achieves Automotive Safety Compliant Certification for ASIL B (Random) and ASIL D (Systematic)

Functional safety-certified DSP and comprehensive software development kit is ideal for the development of low power automotive sensor fusion SoCs to process and fuse data from cameras, radar, lidar and more for autonomous driving and advanced driver assistance systems (ADAS) applications

PR Newswire

ROCKVILLE, Md., Nov. 23, 2021 /PRNewswire/ — CEVA, Inc. (NASDAQ: CEVA), the leading licensor of wireless connectivity and smart sensing technologies and integrated IP solutions, today announced that its SensPro™ sensor hub DSP IP has achieved Automotive Safety Integrity Level B random fault and ASIL D systemic fault-compliant certification. SensPro has already been licensed by multiple leading automotive semiconductor players for next-generation automotive SoCs. As an automotive IP supplier, the SensPro safety certification reflects the company’s commitment to a safety-focused design methodology for its processors, tools and software targeting automotive applications.

The ISO 26262-compliant functional safety standard’s ASIL certification is essential for automotive systems-on-chip (SoCs) used in safety critical applications such as autonomous driving and advanced driver assistance systems (ADAS) applications. The high performance SensPro sensor hub DSP is designed to process and fuse data from multiple sensors, including cameras, radar and lidar, in a highly power-efficient manner. SensPro also offers a combination of high performance single and half precision floating-point math for powertrain and Radar applications along with a large amount of 8- and 16-bit parallel processing capacity required for deep neural network (DNN) inference processing. SensPro is accompanied by an advanced set of software libraries, dedicated instruction sets (ISA) and development tools to expedite system design for automotive applications.

SensPro’s ASIL certification is based on SGS-TÜV Saar’s comprehensive audit and assessment of the functional safety development flow in accordance with the ISO 26262:2018 standard and can be found on the SGS-TÜV website.

Wolfgang Ruf, head of Functional Safety for Semiconductors at SGS-TÜV Saar, commented: “The certification of CEVA’s SensPro sensor hub DSP for ASIL D systematic and ASIL B random compliance provides their customers with high confidence that their automotive SoCs can achieve automotive safety compliance.”

Ran Snir, Vice President and General Manager of the Vision Business Unit at CEVA, commented: “CEVA has been committed to providing high-performance DSPs and comprehensive SDKs for automotive applications for more than a decade. We are pleased to achieve functional safety certification for our latest SensPro sensor hub DSPs in collaboration with SGS-TÜV Saar. The scalable SensPro architecture is ideal for increasingly sophisticated ADAS processors that handle and fuse data from a variety of vehicle sensors and having it certified for these functions enables designers to develop performance-leading ISO 26262-compliant automotive SoCs.”

Availability
The safety-compliant SensPro sensor hub DSP is available for licensing today. For more information, visit: https://www.ceva-dsp.com/product/ceva-senspro/.

About CEVA, Inc.
CEVA is the leading licensor of wireless connectivity and smart sensing technologies and integrated IP solutions for a smarter, safer, connected world. We provide Digital Signal Processors, AI engines, wireless platforms, cryptography cores and complementary software for sensor fusion, image enhancement, computer vision, voice input and artificial intelligence. These technologies are offered in combination with our Intrinsix IP integration services, helping our customers address their most complex and time-critical integrated circuit design projects. Leveraging our technologies and chip design skills, many of the world’s leading semiconductors, system companies and OEMs create power-efficient, intelligent, secure and connected devices for a range of end markets, including mobile, consumer, automotive, robotics, industrial, aerospace & defense and IoT.

Our DSP-based solutions include platforms for 5G baseband processing in mobile, IoT and infrastructure, advanced imaging and computer vision for any camera-enabled device, audio/voice/speech and ultra-low-power always-on/sensing applications for multiple IoT markets. For sensor fusion, our Hillcrest Labs sensor processing technologies provide a broad range of sensor fusion software and inertial measurement unit (“IMU”) solutions for markets including hearables, wearables, AR/VR, PC, robotics, remote controls and IoT. For wireless IoT, our platforms for Bluetooth (low energy and dual mode), Wi-Fi 4/5/6 (802.11n/ac/ax), Ultra-wideband (UWB) and NB-IoT are the most broadly licensed connectivity platforms in the industry. 

Visit us at www.ceva-dsp.com and follow us on Twitter, YouTube,Facebook, LinkedIn and Instagram.

 

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SOURCE CEVA, Inc.

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Omnicom’s Credera Acquires BrightGen to Expand Digital Transformation Capability & Marketing Consulting Depth

PR Newswire

DALLAS and LONDON, Nov. 23, 2021 /PRNewswire/ — Credera, a global, boutique consulting firm focused on strategy, transformation, data, and technology, today announced it has acquired BrightGen, a Salesforce Summit Partner, to extend its depth in digital transformation, marketing technology, and customer experience capabilities. Credera is part of Omnicom Precision Marketing Group (OPMG), the digital and customer relationship management specialist practice area within Omnicom Group Inc. (NYSE: OMC).

“We remain committed to prioritizing investment in organizations that create remarkable customer experiences with meaningful outcomes for our diverse client base, and we have tremendous confidence that BrightGen’s depth of expertise will better enable us to do just that,” said Justin Bell, President and CEO of Credera. “We saw in BrightGen a clear strategic fit, as well as a strong cultural alignment with shared values for excellence and integrity.”

BrightGen specializes in the design, delivery, and implementation of solutions for some of the world’s largest companies across the media, financial services, travel and transport, and education industries. The company enables its clients to provide optimal experiences to their customers. BrightGen’s management team will continue to lead the company and carry forward its brand, culture and values.

Kevin McDonald, Partner at Credera and the firm’s strategic channel alliance leader added, “BrightGen will add scale and expanded capabilities to Omnicom’s global Salesforce center of excellence, which will allow us to further enable digital, dynamic customer experiences for the world’s leading brands.”

“BrightGen is ready to take the next step in our growth through a partnership with Credera and Omnicom,” said Rob Stevens and Martin Tyte, Co-CEOs and Co-Founders of BrightGen. “Together, we have the strategic vision and cultural fit that will expand our capabilities and accelerate our growth.”

“We are continuously evolving our approach to serve our clients and enable world-class experiences for their customers,” said Luke Taylor, CEO of OPMG. “BrightGen will advance our ongoing efforts to expand our global Salesforce capabilities and geographic reach. I want to welcome Rob, Martin, and the entire BrightGen team to Omnicom.”

ABOUT BRIGHTGEN 
BrightGen (brightgen.com) is a U.K-based Salesforce Summit Partner that has been implementing solutions and creating customer success for 15 years. The company specializes in the design, delivery, and implementation of solutions for some of the world’s largest companies across the media, financial services, travel and transport, and education industries.

ABOUT CREDERA
Credera (credera.com) is a consulting firm focused on strategy, transformation, data and technology. As a part of Omnicom Precision Marketing Group, our approximately 1,000 consultants across the globe partner together with clients ranging from Fortune 500 companies to emerging industry leaders from strategy to execution to create tangible business results. Credera’s deep business acumen and technical expertise, combined with a deep dedication to building trusted relationships, unlock extraordinary business performance for our clients. Our mission is to make an extraordinary impact on our clients, people, and communities.

ABOUT OMNICOM PRECISION MARKETING GROUP


Omnicom Precision Marketing Group

 aligns Omnicom’s global digital, data and CRM capabilities to deliver precisely targeted and meaningful customer experiences at scale. Using its universal framework of connected data, connected intelligence and connected experiences, OPMG provides services that include data-driven product / service design, AdTech / MarTech strategy and implementation, CRM / loyalty strategy and activation, econometric and attribution modeling and digital experience design and development. At the core of these services is Omni, a marketing orchestration system that combines a powerful cultural insights engine with massively scaled data from first-, second- and third-party sources to deliver a single view of consumers and better intelligence and outcomes for our clients.

ABOUT OMNICOM GROUP
Omnicom Group (omnicomgroup.com) is a leading global marketing and corporate communications company. Omnicom’s branded networks and numerous specialty firms provide advertising, strategic media planning and buying, digital and interactive marketing, direct and promotional marketing, public relations, and other specialty communications services to over 5,000 clients in more than 70 countries.

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SOURCE Omnicom Precision Marketing Group

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Designer Brands Inc. Announces Third Quarter 2021 Earnings Release Date

PR Newswire

COLUMBUS, Ohio, Nov. 23, 2021 /PRNewswire/ — Designer Brands Inc. (NYSE: DBI), one of North America’s largest designers, producers and retailers of footwear and accessories, announced the Company will issue its third quarter 2021 earnings on December 7, 2021. Management will host a conference call to discuss the results at 8:30 am E.T. A press release detailing the Company’s results will be issued prior to the call.

Investors and analysts interested in participating in the call are invited to dial 888-317-6003, or the international dial in, 412-317-6061, and reference conference ID number 7726369 approximately ten minutes prior to the start of the call. The conference call will be broadcast live over the internet and can be accessed through the following link: DBI 3Q21 Earnings Webcast

For those unable to listen to the live webcast, an archived version will be available at the same location until February 21, 2022. A replay of the teleconference will be available by dialing the following numbers:


Replay:

US callers: 1-877-344-7529

Canadian callers: 1-855-669-9658

International callers:  1-412-317-0088

Passcode: 101622231


About Designer Brands

Designer Brands Inc. is one of North America’s largest designers, producers and retailers of footwear and accessories. The Company operates a portfolio of retail concepts in nearly 700 locations under the DSW Designer Shoe Warehouse®, The Shoe Company®, and Shoe Warehouse® banners. The Company designs and produces footwear and accessories through Camuto Group, a leading manufacturer selling in more than 5,400 stores worldwide. Camuto Group owns licensing rights for the Jessica Simpson® footwear business, and footwear and handbag licenses for Lucky Brand® and Max Studio®. In partnership with a joint venture with Authentic Brands Group, the Company also owns a stake in Vince Camuto®, Louise et Cie®, and others. More information can be found at www.designerbrands.com.

For further information: Stacy Turnof, [email protected]

 

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SOURCE Designer Brands Inc.

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Oasis Petroleum Inc. Appoints Marguerite Woung-Chapman to Board of Directors

Board Expansion Underscores Oasis’ Commitment to Director Refreshment, Independence and Diversity

PR Newswire

HOUSTON, Nov. 23, 2021 /PRNewswire/ — Oasis Petroleum Inc. (NASDAQ: OAS) (“Oasis” or the “Company”) announced today the appointment of Marguerite Woung-Chapman to the Board of Directors, effective immediately. Ms. Woung-Chapman will serve on the Board’s Compensation Committee as well as its Nominating, Environmental, Social & Governance Committee. With the addition of Ms. Woung-Chapman, the Oasis Board now comprises eight directors, seven of whom are independent. Oasis remains committed to regular director refreshment to ensure that its Board has the skillsets, independence and diversity to effectively oversee the Company’s strategy and operations.

Douglas E. Brooks, Board Chair, said, “It is a privilege to welcome Marguerite Woung-Chapman as an independent director to the Oasis board. Her extensive energy industry experience and expertise across corporate governance, regulatory matters and compliance will be extremely valuable. We look forward to benefitting from her unique perspectives as we continue advancing Oasis’ transformation and delivering value for shareholders.” 

Ms. Woung-Chapman brings valuable and extensive experience in all aspects of management and strategic direction of publicly-traded energy companies, including a unique combination of corporate governance, regulatory, compliance, corporate and asset transactions, legal and business administration experience. She currently serves as a Director of the general partner of Summit Midstream Partners, LP and Chair of its Corporate Governance and Nominating Committee. Previously, Ms. Woung-Chapman served as Senior Vice President, General Counsel and Corporate Secretary at Energy XXI Gulf Coast, Inc., a NASDAQ-listed independent exploration and production company in the U.S. Gulf Coast Region. Prior to that, from 2012 to 2017, she served in various capacities at EP Energy Corporation, an NYSE-listed independent oil and gas exploration and production company, including as Senior Vice President, Land Administration, General Counsel and Corporate Secretary. From 1991 until 2012 she served in various capacities of increasing responsibility with El Paso Corporation and its predecessors, including as Vice President, Legal Shared Services, Corporate Secretary and Chief Governance Officer. Ms. Woung-Chapman currently serves as the Chair of the Board of Directors and President of the Girl Scouts of San Jacinto Council, which is the second largest Girl Scout council in the country. Ms. Woung-Chapman holds a B.S. in Linguistics from Georgetown University and a J.D. from the Georgetown University Law Center.

Forward-Looking Statements

This press release may include certain statements concerning expectations for the future that are forward-looking statements as defined by federal securities law. Such forward-looking statements are subject to a variety of known and unknown risks, uncertainties and other factors that are difficult to predict and many of which are beyond management’s control. These risks and assumptions are described in Oasis’ annual reports on Form 10-K and other reports that are available from the United States Securities and Exchange Commission. Readers are cautioned not to place undue reliance on forward-looking statements, which reflect management’s view only as of the date made.

Any forward-looking statement speaks only as of the date on which such statement is made and the Company undertakes no obligation to correct or update any forward-looking statement, whether as a result of new information, future events or otherwise, except as required by applicable law. 

About Oasis Petroleum Inc.

Oasis Petroleum Inc. is an independent exploration and production company with quality and sustainable long-lived assets in the Williston Basin. The Company is uniquely positioned with a best-in-class balance sheet and is focused on rigorous capital discipline and generating free cash flow by operating efficiently, safely and responsibly to develop its unconventional onshore oil-rich resources in the continental United States. For more information, please visit the Company’s website at www.oasispetroleum.com.

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SOURCE Oasis Petroleum Inc.