Latest news with #Employees
Daily Mail
7 days ago
- Business
- Daily Mail
EXCLUSIVE Target employees reveal embarrassing Pride collection mistake amid backlash
Target knew this year's Pride collection would be under the microscope. Still, the company made a glaring misstep: several self-identified employees have shared photos of a slip-up on the Pride clothing's hang tags. 'body copy tincidunt ut lorem ipsum,' the tags say. 'dolor sit amet, consectet adipiscing elit, sed diam ad nonummy nibh...' If that sounds like gibberish, that's because it is. The sentences are frequently-used placeholder text for graphic designers and publishers looking to test out different fonts. Reddit users pointed out that Target clearly forgot to finish the graphics on a heavily scrutinized collection. 'They didn't finish editing the tags on the Pride merch,' one staffer pointed out. It looks like the incorrect tags impacted clothing items across the lineup. Pictures show placeholder text on tags for products like the 'adult athletic pant' and the 'adult woven top.' 'These kinds of mistakes do occasionally happen, but this clearly slipped through a lot of nets,' Neil Saunders, a retail expert at GlobalData, told Several self-identified Target employees have posted pictures of the company's Pride collection hang tags on Reddit 'It's very sloppy for a product range that is supposed to be meaningful and significant.' Saunders said the company might soon be sending new hang tags to stores to swap out the mistake. But some shoppers, who have already felt spurned by the brand's reversal on diversity and inclusion policies, said the mistake was 'tone deaf.' 'Someone said it was Pride in the closet,' one shopper said. Another added: 'I swear this will end up on some random Facebook page as evidence of the Pride merch being "demonic."' Others joked that the tags would inspire more Queer art. 'Lorem Ipsum is actually my drag name,' one shopper chided. Another added: 'Wow, they really put their heart and soul into this, didn't they?' Target has been at the center of several culture war issues - in 2023, the CEO had to move product because right-wing activists allegedly called in bomb threats Employees have been sounding off on Target this year as frustration about the company's negative headlines mounts 'These kinds of mistakes do occasionally happen, but this clearly slipped through a lot of nets,' Neil Saunders, a retail expert at GlobalData, told 'We're aware of the error that originated with our vendor and are working to address the issue,' a Target spokesperson said in a statement to For years, the company has been caught in the middle of culture war fights. The anger largely started with violent frustration over the Pride collection. In 2023, conservative backlash started against the company when activists called out a bathing suit designed for trans swimmers. Brian Cornell, the company's CEO, said anti-LGBT activists threatened store employees and placed bomb threats in response to the product. He responded by moving the merchandise to the back of nationwide stores. The right-wing anger triggered profit problems for the brand: Target said sales dropped 5.4 percent in the quarter after the backlash. In January of this year, the company cancelled a three-year program meant to diversify its leadership team, angering some shoppers on the left. Shoppers were closely watching this year's Pride collection to see if Target would start leaning on either political direction The decision has spawned a new wave of customer boycotts, with liberal shoppers swearing off the brand. Sales for the company fell 2.8 percent to $23.85 billion in the quarter, the brand announced earlier this month. Employees have been worried the drop in profits and consistent negative headlines impacting the stores will start resulting in job losses and store closures. The company has not shut down a store since 2023, and didn't confirm if it was planning any major cuts. Meanwhile, shoppers have been using this Pride collection as a litmus test to see whether Target would be capitulating to either side in the culture war.
Daily Mail
28-05-2025
- Business
- Daily Mail
Legendary taco joint closing its doors after 63 years of serving authentic Mexican cuisine
Oscar's Taco House will be saying adios for the last time after 63 years of serving authentic Mexican cuisine. The San Antonio, Texas restaurant is closing for good on June 28 to make way for a new bridge in the city. 'The city bought us. They've been saying it for five or 10 years now that they want to build a bridge,' restaurant owner Alex Pruneda told My San Antonio. 'They wanted us out by May 15, but I sent them a letter and I told them that was too soon.' Pruneda, 71, also shared his deep gratitude for his 32 employees. 'We wouldn't be where we are today without them. They are the backbone of this business,' he revealed to KSAT. Oscar's Taco House has been a fan-favorite San Antonio restaurant for decades that has hardly changed since its opening. It offers a variety of foods, including famous puffy tacos, nachos, and chili and cheese fries. Oscar's Taco House will be closing for good on June 28 after 63 years to make way for a new bridge in San Antonio. Fans on TikTok were heartbroken to learn the Texas restaurant is shuttering. Fans have called for Texas to 'save Oscar's' ever since the business announced its upcoming closure. They've also taken to TikTok to share various memories in a video posted by visionsforyou210 last week. 'My mother and grandma would take me here as a child, oh the food was so good. Sad it's nothing more than a memory now,' a commenter wrote. 'My first boyfriend /girlfriend date in High School was at Oscars - over 40 years ago. I don't know what happened to him, but I will miss Oscars,' a fan responded. 'Man I've been eating here since I was a kid and now I started to bring my son here. Gonna miss this place. Great food,' another person commented. A few others recalled times they watched the restaurant being built. Commenters also praised the restaurant's food and gave brief shout-outs for its puffy tacos and fried chicken. 'The crowd was crazy today they just find out that they are going to close and now everybody wants to go,' a fan claimed last week. Loyal customers claimed the restaurant has hardly redecorated since opening its doors decades ago Several customers have praised the restaurant for serving 'delicious' puffy tacos The restaurant calls itself a 'hidden gem' in San Antonio combining Mexican cuisine with 'mouthwatering fish dishes.' It accepts reservations, and offers delivery, takeout, and catering. Oscar's is known for creating signature puffy tacos and revealed guests rave about Norma's Plate, an entrée that comes with a cheese enchilada, a puffy taco, rice, and beans. 'Whether you're a longtime fan or a first-time visitor, the friendly staff and delicious dishes will leave you craving for more.' The restaurant also shared reviews from both new and previous customers, many of whom praised the food and its staff. Oscar's Taco House success has never diminished, but after four years of owning the restaurant, Pruneda is ready to settle down. 'I get people coming in from Boerne, Floresville, Devine, Helotes. Everybody tells me, "Why don't you open a restaurant over there?"' he told the San Antonio Express News. 'I might just take some time off. And right now, I'm just gonna accept it and move on.' A couple of social media users claimed there were lines of guests looking to purchase food from Oscar's Taco House last week Oscar's Taco House is one of many historic restaurants that have shuttered. Taco Bell closed its historic Arizona restaurant after over 60 years to build a sleeker location. The 45-year-old MacLeod's Restaurant in Bucksport, Maine, closed in April, but it is looking for a buyer to restore it and take advantage of its popularity. Meanwhile, another storied taco restaurant closed recently. Taco Mac closed its flagship restaurant in Atlanta's Virginia-Highland neighborhood — marking the end of a 46-year chapter. Major chains have also filed for Chapter 11 bankruptcy protection. TGI Fridays closed hundreds of restaurants and currently has less than 100 US restaurants since filing for bankruptcy last year. Hooters began shuttering restaurants last year and filed for bankruptcy protection in March. Outside the restaurant industry, multiple retailers have shut their flagship store doors for financial and restructuring purposes. Neiman Marcus shuttered its Texas flagship store in March, and Saks closed its iconic California store after nearly 45 years last week.
Yahoo
24-05-2025
- Business
- Yahoo
Booz Allen Hamilton Holding Corp (BAH) Q4 2025 Earnings Call Highlights: Strong Organic Growth ...
Adjusted EBITDA: $1.315 billion, representing 12% compounded growth, nearly all organic. Revenue Growth: Over 12% for fiscal year 2025, nearly all organic. Adjusted EBITDA Margin: 11% for fiscal year 2025. Adjusted Diluted Earnings Per Share (ADEPS): Grew over 15% for fiscal year 2025. Free Cash Flow: $911 million for fiscal year 2025. Share Repurchases: About 4.3% of shares outstanding repurchased since the beginning of the fiscal year. Net Debt to Adjusted EBITDA Ratio: 2.4 times. Fourth Quarter Revenue: $3 billion, a 7% year-over-year increase. Defense Business Revenue Growth: Up 14% year-over-year in the fourth quarter. Intel Business Revenue Growth: Up 5% year-over-year in the fourth quarter. Civil Business Revenue: Flat in the fourth quarter, with an anticipated decline in low double digits for FY26. Net Bookings: $2.1 billion for the fourth quarter, with a quarterly book-to-bill of 0.71 times. Year-End Backlog: $37 billion, up 15% year-over-year. Qualified Pipeline for FY26: $53.4 billion. Employee Count: Nearly 36,000 employees, with a 4.2% year-over-year increase in customer-facing staff. Adjusted EBITDA for Q4: $316 million, up 10.5% year-over-year. Net Income for Q4: $193 million, a 51% increase year-over-year. Adjusted Net Income for Q4: $203 million, up 17% year-over-year. Diluted Earnings Per Share for Q4: $1.52, a 55% increase year-over-year. Adjusted Diluted Earnings Per Share for Q4: $1.61, up 21% year-over-year. Cash on Hand: $185 million at the end of the fiscal year. Free Cash Flow for Q4: $194 million. Share Repurchases in Q4: $310 million at an average price of $118.96 per share. Quarterly Dividend: $0.55 per share, payable on June 27. FY26 Revenue Guidance: Between $12 billion and $12.5 billion. FY26 Adjusted EBITDA Guidance: $1.315 billion to $1.37 billion. FY26 ADEPS Guidance: $6.20 to $6.55 per share. FY26 Free Cash Flow Guidance: $700 million to $800 million. Warning! GuruFocus has detected 2 Warning Signs with BAH. Release Date: May 23, 2025 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Booz Allen Hamilton Holding Corp (NYSE:BAH) delivered strong financial results for fiscal year 2025, with a 12% revenue growth, nearly all organic. The company exceeded its ambitious target range for adjusted EBITDA, reaching $1.315 billion, representing a 12% compounded EBITDA growth. Booz Allen's AI business grew over 30% year-over-year to approximately $800 million, indicating strong demand and integration into mission workflows. The company has a robust free cash flow of $911 million and deployed $1.2 billion of capital to generate shareholder value, including share repurchases. Booz Allen is strategically positioned to lead in AI and commercial technology integration into defense and national security missions, with strong partnerships and investments in advanced technologies. The Civil business is expected to decline in fiscal year 2026 due to reductions in government personnel and spending levels, impacting contract run rates. There is a slowdown in the civil procurement and spending environment, with a reduction in run rate on five large civil technology projects, creating a 3% headwind to firm-wide revenue for fiscal year 2026. Booz Allen anticipates a 7% reduction in staff in the first quarter, heavily concentrated in the Civil business, due to contract impacts and restructuring. The company faces challenges in redeploying staff due to slower-than-normal procurement processes, impacting its ability to quickly move talent to new opportunities. There is less visibility into the forces shaping the business environment, leading to a cautious fiscal year 2026 outlook with anticipated lower revenue and profit growth in the first half. Q: In this environment of unpredictable descoping and cancellations, how do you get comfortable that you've got your arms around the impact and there's not potentially more to come throughout the year? A: Horacio Rozanski, CEO, explained that Booz Allen is experiencing two overlapping dynamics: a reset in their Civil business and continued strength in Defense and Intelligence. The Civil business is undergoing a one-time reset due to deceleration and procurement freezes, while Defense and Intel are seeing strong growth. The company is taking significant restructuring actions in Civil to position for future growth and is well-aligned with key missions and technologies. Q: Can you discuss the reset and your expectations for multiyear growth in Defense and Civil? What are you hearing from congressional folks? A: Horacio Rozanski noted that the budgetary environment aligns with their observations, with a significant increase for defense and a focus on reducing discretionary spending in civilian agencies. The Civil business has mostly completed its reviews, while Defense and Intel are focusing on priorities like Indo-Pacific and space. Booz Allen is well-positioned with strong technology and partnerships to capture opportunities. Q: How do you think about the low double-digit decline for Civil in fiscal '26, and what are the catalysts for stability in the business? A: Kristine Anderson, COO, stated that most Civil programs have been reviewed positively, with a short-term slowdown in burn rates as agencies position for transformation. Booz Allen's tech and talent have been well-received, and they are focusing on extending capabilities and converting contracts to outcome-based models to accelerate mission areas. Q: How do you invest in the right things to adapt to the government's push for commercial terms in defense? A: Horacio Rozanski highlighted Booz Allen's partnerships and investments with commercial tech firms, from hyperscalers to start-ups. The company is recognized for missionizing commercial solutions and co-creating with partners. This trend is seen as a net positive, aligning with Booz Allen's strategy to integrate commercial technology into defense solutions. Q: With the scrutiny on AI programs, has there been any change in your optimism for your AI business, particularly with the Department of Defense? A: Horacio Rozanski expressed strong optimism for Booz Allen's AI business, noting that AI is now embedded in many programs. The focus has shifted to rapid implementation and ensuring commercial technology is secure for missions. Booz Allen is well-positioned in areas like Agentic AI and cyber defense, with significant upside potential. For the complete transcript of the earnings call, please refer to the full earnings call transcript. This article first appeared on GuruFocus. Sign in to access your portfolio
Yahoo
24-05-2025
- Business
- Yahoo
Booz Allen Hamilton Holding Corp (BAH) Q4 2025 Earnings Call Highlights: Strong Organic Growth ...
Adjusted EBITDA: $1.315 billion, representing 12% compounded growth, nearly all organic. Revenue Growth: Over 12% for fiscal year 2025, nearly all organic. Adjusted EBITDA Margin: 11% for fiscal year 2025. Adjusted Diluted Earnings Per Share (ADEPS): Grew over 15% for fiscal year 2025. Free Cash Flow: $911 million for fiscal year 2025. Share Repurchases: About 4.3% of shares outstanding repurchased since the beginning of the fiscal year. Net Debt to Adjusted EBITDA Ratio: 2.4 times. Fourth Quarter Revenue: $3 billion, a 7% year-over-year increase. Defense Business Revenue Growth: Up 14% year-over-year in the fourth quarter. Intel Business Revenue Growth: Up 5% year-over-year in the fourth quarter. Civil Business Revenue: Flat in the fourth quarter, with an anticipated decline in low double digits for FY26. Net Bookings: $2.1 billion for the fourth quarter, with a quarterly book-to-bill of 0.71 times. Year-End Backlog: $37 billion, up 15% year-over-year. Qualified Pipeline for FY26: $53.4 billion. Employee Count: Nearly 36,000 employees, with a 4.2% year-over-year increase in customer-facing staff. Adjusted EBITDA for Q4: $316 million, up 10.5% year-over-year. Net Income for Q4: $193 million, a 51% increase year-over-year. Adjusted Net Income for Q4: $203 million, up 17% year-over-year. Diluted Earnings Per Share for Q4: $1.52, a 55% increase year-over-year. Adjusted Diluted Earnings Per Share for Q4: $1.61, up 21% year-over-year. Cash on Hand: $185 million at the end of the fiscal year. Free Cash Flow for Q4: $194 million. Share Repurchases in Q4: $310 million at an average price of $118.96 per share. Quarterly Dividend: $0.55 per share, payable on June 27. FY26 Revenue Guidance: Between $12 billion and $12.5 billion. FY26 Adjusted EBITDA Guidance: $1.315 billion to $1.37 billion. FY26 ADEPS Guidance: $6.20 to $6.55 per share. FY26 Free Cash Flow Guidance: $700 million to $800 million. Warning! GuruFocus has detected 2 Warning Signs with BAH. Release Date: May 23, 2025 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Booz Allen Hamilton Holding Corp (NYSE:BAH) delivered strong financial results for fiscal year 2025, with a 12% revenue growth, nearly all organic. The company exceeded its ambitious target range for adjusted EBITDA, reaching $1.315 billion, representing a 12% compounded EBITDA growth. Booz Allen's AI business grew over 30% year-over-year to approximately $800 million, indicating strong demand and integration into mission workflows. The company has a robust free cash flow of $911 million and deployed $1.2 billion of capital to generate shareholder value, including share repurchases. Booz Allen is strategically positioned to lead in AI and commercial technology integration into defense and national security missions, with strong partnerships and investments in advanced technologies. The Civil business is expected to decline in fiscal year 2026 due to reductions in government personnel and spending levels, impacting contract run rates. There is a slowdown in the civil procurement and spending environment, with a reduction in run rate on five large civil technology projects, creating a 3% headwind to firm-wide revenue for fiscal year 2026. Booz Allen anticipates a 7% reduction in staff in the first quarter, heavily concentrated in the Civil business, due to contract impacts and restructuring. The company faces challenges in redeploying staff due to slower-than-normal procurement processes, impacting its ability to quickly move talent to new opportunities. There is less visibility into the forces shaping the business environment, leading to a cautious fiscal year 2026 outlook with anticipated lower revenue and profit growth in the first half. Q: In this environment of unpredictable descoping and cancellations, how do you get comfortable that you've got your arms around the impact and there's not potentially more to come throughout the year? A: Horacio Rozanski, CEO, explained that Booz Allen is experiencing two overlapping dynamics: a reset in their Civil business and continued strength in Defense and Intelligence. The Civil business is undergoing a one-time reset due to deceleration and procurement freezes, while Defense and Intel are seeing strong growth. The company is taking significant restructuring actions in Civil to position for future growth and is well-aligned with key missions and technologies. Q: Can you discuss the reset and your expectations for multiyear growth in Defense and Civil? What are you hearing from congressional folks? A: Horacio Rozanski noted that the budgetary environment aligns with their observations, with a significant increase for defense and a focus on reducing discretionary spending in civilian agencies. The Civil business has mostly completed its reviews, while Defense and Intel are focusing on priorities like Indo-Pacific and space. Booz Allen is well-positioned with strong technology and partnerships to capture opportunities. Q: How do you think about the low double-digit decline for Civil in fiscal '26, and what are the catalysts for stability in the business? A: Kristine Anderson, COO, stated that most Civil programs have been reviewed positively, with a short-term slowdown in burn rates as agencies position for transformation. Booz Allen's tech and talent have been well-received, and they are focusing on extending capabilities and converting contracts to outcome-based models to accelerate mission areas. Q: How do you invest in the right things to adapt to the government's push for commercial terms in defense? A: Horacio Rozanski highlighted Booz Allen's partnerships and investments with commercial tech firms, from hyperscalers to start-ups. The company is recognized for missionizing commercial solutions and co-creating with partners. This trend is seen as a net positive, aligning with Booz Allen's strategy to integrate commercial technology into defense solutions. Q: With the scrutiny on AI programs, has there been any change in your optimism for your AI business, particularly with the Department of Defense? A: Horacio Rozanski expressed strong optimism for Booz Allen's AI business, noting that AI is now embedded in many programs. The focus has shifted to rapid implementation and ensuring commercial technology is secure for missions. Booz Allen is well-positioned in areas like Agentic AI and cyber defense, with significant upside potential. For the complete transcript of the earnings call, please refer to the full earnings call transcript. This article first appeared on GuruFocus.
The Hindu
23-05-2025
- Health
- The Hindu
MEDISEP revamp: expert panel recommends enhanced insurance coverage
The expert committee constituted by the government to revamp the Medical Insurance Scheme for State Employees and Pensioners (MEDISEP) has recommended enhanced insurance coverage, a larger and more comprehensive package of procedures and improved coverage of catastrophic illnesses under the scheme. The committee has recommended an enhanced basic insurance coverage from ₹3 lakh to ₹5 lakh, based on the framework of the Health Benefits Package (HBP) 2022 formulated by the National Health Authority. However, while the HBP 2022 costing might attract more private hospitals to empanel under the scheme, it would also mean that the current premium would have to be increased by 50% to accommodate this costing. This means that the current monthly premium could go up from ₹500 to ₹750. Adoption of HBP 2022 would mean that many pre-hospitalisation investigative procedures like CT scans and high-cost injections etc. would also get covered under MEDISEP. New conditions under 'emergency procedures' The committee has also recommended expanding the definition of 'emergency procedures' (which earlier included only road traffic accidents, heart attack and stroke), to include 10 more conditions, including electric shock, poisoning, animal attacks, burns, snake bites or drowning. MEDISEP, which was launched in July 2022, offered a basic insurance cover of ₹3 lakh, at a monthly premium of ₹500. It covers over 30 lakh individuals, including some 5.45 lakh government employees, 5.89 lakh pensioners and their dependents. The scheme, which was envisaged as a comprehensive health insurance cover for a significant section of the population, ran into rough weather despite its high uptake, because of the non-participation of private sector speciality hospitals. The scheme came under much criticism because the package rates for various medical procedures were felt to be 'impractical, non-uniform and unrealistic', making MEDISEP unattractive for the private sector. With the three-year policy period of MEDISEP coming to an end on June 30, 2025, the government had set up a six-member expert committee under Sriram Venkitaraman, Joint Secretary and Officer on Special Duty (Finance Resources) to study the scheme and recommend appropriate revisions. The expert committee has recommended that the HBP 2022 costing be adopted for MEDISEP, with an increase of 1.5 times of Tier One city rates for private hospitals. However, for government hospitals, the HBP 2022 packages will be accepted as such. The committee has also recommended that MEDISEP be extended to employees and pensioners in public sector undertakings, Corporations, autonomous, statutory bodies and the cooperative sector, where the health insurance cover might be poor or inadequate because of the high premiums and poor beneficiary packages offered by private health insurance companies. This is one way the government can keep the premium or costs down, while increasing the overall risk pool. Slashing policy period Another recommendation is that the policy period be made two years instead of the current three years so that any costing/package rates changes that may arise may be accommodated, which will also make the scheme more sustainable and attractive as far as the private health sector is concerned. The committee has recommended that the ceiling on hospital room rent for private hospitals be increased from the current ₹2,000 to ₹5,000. The rates for ICU/ ventilator admissions will be as per the HBP2022 rates. A proper grievance redressal mechanism, with the inclusion of representatives from private hospitals associations and IMA has also been recommended by the committee to deal with issues of claim rejection, delays in claims settlement or complaints regarding package rates. All hospitals with 10 beds or more will be encouraged to empanel under MEDISEP. The recommendations will be presented before the Cabinet soon for approval.
