Latest news with #Roach
Yahoo
19 hours ago
- Business
- Yahoo
GAP Flags Over $100 Million Tariff Burden Outside Guidance, Near-Term Stock Pressure Likely: Analyst
Goldman Sachs analyst Brooke Roach reiterated the Buy rating on Gap, Inc. (NYSE:GAP), raising the price forecast from $25 to $28. On Thursday, the firm reported first-quarter earnings of 51 cents per share, which beat the consensus estimate of 45 cents. Quarterly revenue came in at $3.46 billion, which beat the Street estimate of $3.42 billion. Gap has reaffirmed its full-year 2025 guidance, excluding any potential tariff-related impacts. While core business trends remain solid, the analyst highlighted that the investor sentiment may have been tempered by heightened expectations and Gap's acknowledgment of a larger-than-expected tariff headwind in the second half, even after mitigation, estimated at $100 million to $150 continues to shift its sourcing strategy to reduce exposure to China. The company expects less than 3% of its products to come from China by the end of 2025, down from under 10% in 2024. By the end of 2026, Gap aims to ensure no single country accounts for more than 25% of its sourcing. The estimated unmitigated tariff impact stands at $250 million to $300 million, while mitigation efforts could bring that down to $100 million to $150 million. However, this range is not formally included in the company's current outlook. Gap is using standard mitigation levers such as adjusting sourcing, manufacturing, assortments, and negotiating with vendors, but does not plan to raise prices in response to the tariff risk. Despite the uncertainty, the company is continuing to invest in key strategic initiatives and intends to reinvest a portion of its projected FY25 cost savings to support its growth plans. While the analyst has reduced Gap's second-half forecasts due to higher-than-expected tariff headwinds and expects this to weigh on the stock in the near term, Roach remained confident in the company's ability to manage these challenges into FY26 using additional 'mitigatory levers,' including the 'unused option' of pricing. The analyst added that Gap has additional mitigation tools available, including the option to adjust pricing, which it has not yet utilized. Roach stated that their 2025, 2026, and 2027 EPS estimates have been revised to $2.19, $2.34, and $2.61, compared with the previous forecasts of $2.28, $2.37, and $2.61. The update reflects Gap's strong first-quarter performance and incorporates the latest tariff guidance provided by management, the analyst said in the note. Price Action: GAP shares are trading lower by 18.2% to $22.87 at last check Friday. Read Next: Photo via Shutterstock Up Next: Transform your trading with Benzinga Edge's one-of-a-kind market trade ideas and tools. Click now to access unique insights that can set you ahead in today's competitive market. Get the latest stock analysis from Benzinga? This article GAP Flags Over $100 Million Tariff Burden Outside Guidance, Near-Term Stock Pressure Likely: Analyst originally appeared on © 2025 Benzinga does not provide investment advice. All rights reserved. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Calgary Herald
3 days ago
- Business
- Calgary Herald
Varcoe: U.S. air travel demand 'has not recovered' yet from Canadians cancelling trips south, says WestJet CEO
Article content 'If I just look into how our next couple of months are booked, then I see sort of mid-to-high teens (percentage) less bookings than there were a year ago,' he said after the speech. Article content The phenomenon of Canadians opting not to travel to the U.S. has been showing up in cross-border travel statistics for several months. Article content The country's largest airline, Air Canada, reported earlier this month that it was seeing booking on transborder markets drop by low teens percentage points, on average, for the following six months. Article content In April, return trips by Canadians by air fell 20 per cent compared with the same month a year earlier, according to Statistics Canada preliminary figures. Article content Return trips by automobile plunged 35 per cent — the fourth straight month of year-over-year declines in both categories. Article content A research note by ATB Economics on Wednesday pointed out the number of Canadians returning from south of the border through the Calgary and Edmonton airports dropped 5.6 per cent during the first four months of 2025 from year-earlier levels. Article content Article content And it's not just Canadian flyers showing their displeasure with the trade war by shifting their travel patterns. Article content Through April, the number of Canadians returning from the U.S. by both air and road fell 22 per cent, and for Alberta, it decreased eight per cent from the same period last year, said ATB deputy chief economist Rob Roach. Article content The trade conflict will lead to more Albertans travelling to other countries outside the U.S., but it will also likely see more consumers taking vacations and spending their tourism dollars inside the country, Roach said in an interview. Article content 'I do think it's a temporary thing, but it will last and go (on) as long as the trade war is hot,' he said Wednesday. Article content 'They are still tariffs and we are one tweet away — or Truth Social post away — from this blowing up again. So, until there's a sense that things are back to normal, I think we'll see this reflected in the actual numbers.' Article content Article content Article content After Prime Minister Mark Carney met with Trump in Washington earlier this month, the annexation discussion subsided from the White House. Article content However, the U.S. president mentioned it again on social media Tuesday, saying Canada could join his country's Golden Dome defence system for $61 billion but it would cost 'ZERO DOLLARS if they become our cherished 51st state. They are considering our offer!' Article content How long could a travel boycott continue? Article content 'We do assume that at some point in time, there will be some kind of agreement, hopefully,' von Hoensbroech added. Article content 'What we have seen in the past in our industry is that whenever there's a change in demand pattern for political reasons, it's usually transitional, and long-term demand trends usually flow back.' Article content Susan Bell, a senior vice-president with consultancy Rystad Energy, said the decline in travel to the U.S. isn't just coming from Canada, but also from fewer travellers coming from other countries — and it's showing up in less jet fuel demand. Article content About 20 per cent of U.S. aviation fuel demand is typically tied to international flights. Article content
The Independent
4 days ago
- Business
- The Independent
Gervonta Davis and Lamont Roach rematch set for August after controversial draw earlier this year
Gervonta 'Tank' Davis is set to battle once more with Lamont Roach. Reports in the US state that the two lightweights will meet in Las Vegas on Saturday, August 16. Controversy reigned in the first meeting when Davis, 30-0-1 (28), took a knee during the ninth round, complaining of something stinging his eye. Despite the referee's initial reaction to start a count, no knockdown was scored. That had huge ramifications on the final scorecards, with a majority draw that would have swung in Roach's favour if the ninth round was properly scored 10-8. Davis preserved both his unbeaten status and possession of the WBA 's lightweight title, which will be up for grabs when the pair reunite in the ring this summer. Roach, 25-1-2 (10), is still the WBA's champion at super featherweight, with the American stepping up a weight class to face Davis in March. The 29-year-old had been granted special permission by the WBA to move to 135 pounds to face Davis in the initial fight. Neither fighter has returned to the ring since their draw in March. Both boxers fought just once in 2024, with Roach averaging one fight per year since 2022. The lightweight division is currently fractured, with all four major belts held by separate fighters. Shakur Stevenson controls the WBC belt, and is set to face the WBC's interim champion William Zepeda in July. Keyshawn Davis became the most recent world champion at 135 pounds when he defeated Ukrainian Denys Berinchyk in February. Berinchyk's fellow countryman Vasyl Lomachenko currently holds the IBF strap, having previously held the WBC and WBO titles before his unification loss to Devin Haney. Haney reigned undisputed at lightweight between 2022 and 2023, the last time all four belts were unified at 135 pounds.
Yahoo
22-05-2025
- Business
- Yahoo
‘Nobody wins.' Parents, staff react to deep cuts at Tacoma Public Schools
As Pierce County's largest school district has been implementing a series of cuts to tackle its $30 million budget deficit, teachers, staff and parents have said the cuts will disproportionately affect the district's most vulnerable students and employees. Tacoma Public Schools last week announced that it cut several programs and scores of staff positions, choosing not to renew contracts for 105 provisional employees and implementing changes that 'directly impacted' 118 education-support professionals and 30 office professionals. The district has attributed its looming deficit for the 2025-2026 school year to insufficient funding from the state Legislature — Gov. Bob Ferguson signed into law lawmakers' final $78 billion operating budget on Tuesday. The district has said that staff salaries and benefits account for 85% of the district's general budget and that the state has only covered 65% of those costs. Beginning and top salaries for teachers at Tacoma Public Schools rank number one out of the top 10 school districts in the state and among 12 neighboring districts, Tacoma Public Schools reported. 'These choices are not a reflection of the job our staff does,' the district said of the staff cuts on its website. 'We value them and the incredible work they do, so much so that they are the highest paid teachers among the 10 largest school districts in the state.' Staff, teachers and parents in the district have said that the district cut education-support staff and early-career teachers on provisional contracts before making sufficient cuts to six-figure salaries at the district level. Cuts from the district – which it has said it will continue to implement through June 13 – include the elimination of services like its 'peer inclusion program.' Melissa Roach, a peer-inclusion educator at Stanley Elementary School, said the program was designed to help young students with special needs learn how to be around other students in a classroom setting, with the goal of eventually being able to transition to a general education classroom. 'Education support professional', also known as an ESP, is the umbrella term for employees at the district who have jobs that range from nurses to bus monitors. Several ESPs who have been impacted by the staffing and program cuts are also referred to as 'paraeducators,' staff who help relieve teachers of various classroom tasks by working with students who have special needs in different capacities. Roach, who is also the vice president of the union that represents ESPs, is currently without an assignment for the next academic year given the elimination of her program. She's been 'displaced,' meaning she will join a pool of several other displaced ESPs to be first in line for the next ESP job openings in the 2025-2026 academic year. As the district reorganizes its ESP staff, some are likely to return as ESPs in different positions, Roach said. By her estimates, about 60% of those staff will likely be able to go back to working full time. '[The district] like to tout their giant graduation rates and how well all their kids are doing,' Roach told The News Tribune. 'But that happens because there are supports in place – that they put in place, wonderful programs – that they've decided to take away. Nobody wins.' Jeremy Cragin, a building rep for the Tacoma Education Association, said the cuts also have impacted teachers who are classified as 'provisional certificated staff,' meaning they have a teaching or educational staff associate certificate from the state but have served at the district for less than three years. 'At Jennie Reed Elementary, our entire kindergarten is first- and second-year teachers. They're outstanding teachers, amazing teachers, people that Tacoma Public Schools should want to keep and incentivize to keep,' Cragin told The News Tribune. 'Now they're going to have to go look for work elsewhere, sadly, because they're being cut.' Cragin criticized the district for choosing to make the cuts, saying it should have reduced administrator salaries first. He cited a retreat that several district staff members attended in 2024 that cost the district nearly $9,000 – double the cost that Tacoma Public Schools originally reported to the public. 'It's really eyebrow raising that they would make that choice rather than start trimming off the top,' he said. ESP compensation ranges from as low as about $26 per hour to as high as $54 per hour, according to the union's collective bargaining agreement, depending on the amount of time an employee has been with the district, educational background and position. District officials like Superintendent Josh Garcia have in contrast made above $300,000 per year in the 2023-2024 academic year, according to public data. Tacoma Public Schools spokesperson Kathryn McCarthy said the district has eliminated 69 administrative positions as it has contended with an ongoing budget deficit: 22 positions in 2023, 38 in 2024 and nine in 2025. Exempt staff at the district level also did not receive salary step increases for the current academic year, McCarthy told The News Tribune in a statement. Kari Madden is president of the Tacoma Federation for Education Support Professionals and has worked for the district for 18 years. Madden said she's never seen this level of staff cuts from the district. Madden is a special education program paraeducator at Foss High School and said the loss of so many support staff for special needs students at Tacoma Public Schools comes as many ESPs are noticing higher rates of aggressive behavior. 'Support from paraeducators is crucial in that we already get hurt as it is, and when you are taking away a lot of the student support that's there, I'm worried that other students are going to get hurt,' she told The News Tribune. Jamie Damazio, president of Jennie Reed Elementary School's Parent Teacher Association, said the district's cuts will result in overworked teachers and will exacerbate the existing teacher shortage. 'I am fed up with people so far removed from the actual schools making decisions like they are crossing line items off on a spreadsheet,' she wrote to The News Tribune in an email. 'It's disheartening that every time there are cuts, it always starts with the people who will be impacted the worst.'
Yahoo
16-05-2025
- Entertainment
- Yahoo
Commentary: Thirty years ago Freddie Roach didn't take sage advice, opened Wild Card Boxing Club
Next week, and for years to follow, people driving in the area of Hollywood and Vine will pass a corner shopping center with a sign that says: 'Freddie Roach Square.' That will probably trigger a common reaction. Who's Freddie Roach? For those who see no sweet science in the sport of boxing, nor have ever considered a ring to be something other than that which you put on a finger, we will tell you. Advertisement Roach is a boxing trainer. He is famous for making other people famous. The new sign will go up in a ceremony Sunday between 1-3 p.m. in the parking lot of his gymnasium. The gym is called Wild Card Boxing Club. It is the 30th anniversary of its existence. To the boxing world, it is a cathedral. It is where Manny Pacquiao trained to become rich and famous. It is where movie stars such as Mark Wahlberg and Mickey Rourke come to get in shape for action movies. It is where Oscar De La Hoya trained for a fight with Floyd Mayweather Jr., then lost, but was so emboldened by Roach's training technique that he told Roach he would never fight another fight without him. Two days later, De La Hoya fired him. There were days when the hot and sweaty place was shared by nuns and former felons. The Wild Card is mind-numbing showcase of boxing photos, sweat, noise and hangers-on. It became so crowded that Roach, in the midst of Pacquiao's long run of success, acquired the property downstairs as an additional gym, and for Manny only. Worked like a charm. There, his star pupil could train with the comparative reduction in decibels down to a 747 on takeoff. Eventually, the boxing media learned lip-reading to do interviews. Overall, the downstairs Wild Card has been a success. The former felon count is down. Trainer Freddie Roach, right, and promoter Bob Arum, left, flank welterweight champion Manny Pacquiao after he defeated Miguel Cotto in 2009. (Mark J. Terrill / Associated Press) Wild Card was where a young, invincible and feared heavyweight star Mike Tyson came to work for a fight and was doing mitts with Roach. 'Doing mitts' consists of the trainer deflecting or accepting a series of hard punches from his trainee. The punches are designed to come in a pattern, so the trainer can anticipate them and not get hit. Advertisement One day in the Wild Card, Tyson missed the pattern and nailed Roach on the jaw. Roach's knees buckled, but he didn't go down. Somebody got a video of the moment, and an infuriated Tyson later demanded that the video never be shown. His image was at stake. By then, Roach was long retired from a career that left him with signs of Parkinson's and he weighed around 150 pounds. But Tyson couldn't take him down with one of his best shots. Roach's explanation? 'I had a good chin.' Roach is 65. He grew up in a rough part of Boston, where job choices for boys heading into manhood came down to, for many, bank robbing or boxing. Roach chose the more legal one, but not necessarily the smartest. He had 53 fights, started out 26-1, stopped with a record of 40-13, and says that he was fine until those last six or seven. Advertisement One of his trainers was the legendary Eddie Futch, who between lessons in jabbing and ducking told Roach that his best piece of lifetime advice was to 'never open your own gym.' So, at age 35, Roach did just that. He asked a bunch of friends to write down possible names for the new gym, saying that in the process he would certainly find a good wild card. Then he named it that. Opening a gym, despite Futch's warning, was more a career reality than anything else. Roach was a boxer. He knew boxing. Not a whole lot else. He tried telemarketing for a while in Las Vegas. 'We just got on the phone and lied our ass off,' he says. He tried tree trimming, but the life of an arborist did not suit him, either. They were men in trees and Roach did not want to be one of them. 'I saw a guy lose control of his chain saw and slash his chest,' Roach says, apparently not comparing that to the damage done by a shot to the chin from Mike Tyson. Advertisement Over the years, 42 fighters have prepared in Wild Card Gym and gone on to win world titles. Roach, the guy helping them prepare, has been named boxing trainer of the year seven times and was inducted into Boxing's Hall of Fame in Canastota, N.Y., in 2012. The most famous of those 42, of course, is Pacquiao, who walked into the Wild Card one day, asked to 'do mitts' with Roach, and went on to win an unprecedented eight division titles. There may be more. Pacquiao recently lost his re-election bid for his Philippines senate seat and is rumored to be looking for a summer Las Vegas fight. This, of course, is after he retired and is being inducted in the boxing Hall of Fame in June. Go figure. Boxing champion Manny Pacquiao works out with trainer Freddie Roach in front of reporters and photographers at the Wild Card Boxing Club in 2016. (Nick Ut / Associated Press) And, lo and behold, Roach is not ruling out training Pacquiao for this next one, if it happens. Advertisement 'If he does this fight,' Roach says, 'I hope I'm in his corner.' If not, Roach is a happy man. His gym will be honored with the ceremony Sunday. And alongside him will be his longtime companion, Marie Spivey, whom he married two years ago. What a wedding it was. They did it in the Wild Card. Freddie was in the blue corner and Marie in the white. Get the best, most interesting and strangest stories of the day from the L.A. sports scene and beyond from our newsletter The Sports Report. This story originally appeared in Los Angeles Times.
