Latest news with #Schmidt
Yahoo
a day ago
- Automotive
- Yahoo
Torc Robotics opens first autonomous hub in Texas
This story was originally published on Trucking Dive. To receive daily news and insights, subscribe to our free daily Trucking Dive newsletter. Torc Robotics is preparing its self-driving trucks to haul commercial freight along Interstate 35 with the opening of its first autonomous trucking hub in Fort Worth, Texas, according to a May 15 press release. The hub will serve as an operational base for the company's autonomous efforts, and includes a customer experience center, offices and control centers for fleet management and operations. 'This hub represents more than just logistics,' said Torc CCO Andrew Culhane. 'It represents years of relentless planning and prioritization, input from industry experts, and the dedication and tireless effort of Torc's teams.' Ahead of its expected 2027 U.S. market launch, Torc plans to test autonomous trucks on a new lane on Interstate 35, a major freight route between Laredo, Texas, and Dallas-Fort Worth. In a previous statement, Torc CEO Peter Vaughan Schmidt said establishing a presence in the Dallas-Fort Worth area was a critical milestone for the independent Daimler Truck subsidiary. 'As we work toward commercialization, the new hub will give us access to talent, resources and routes that we didn't previously have, and we're excited about the growth opportunities ahead,' Schmidt said. The hub features 22,000 square feet of office space on an 18-acre site within AllianceTexas, a 27,000-acre development in North Texas. At the heart of the hub is Torc's 'Mission Management' room, which tracks the lifecycle of each autonomous journey — from pre-trip checklist to arrival transmissions — on a theater-sized screen. The release did not include specifics about how many employees will be working at the new facility, but Torc disclosed in November that it planned to shift many of its resources from Albuquerque, which was an original testing location, to Dallas to support its future commercialization efforts. The company also expected to hire more than 100 people in Dallas in 2025. Torc anticipates that the move to the new hub will create a 'more bustling, even more energetic' commercialization space that will eventually transition to a 24-hour facility, according to the release. Torc isn't the only AV company making inroads in the Lone Star State. In May, competitor Aurora launched a regular, heavy-duty driverless trucking service between Houston and Dallas. Meanwhile, Daimler Truck North America recently delivered the autonomous-ready version of its fifth-generation Freightliner Cascadia to Torc. Citing over 1,500 engineering requirements, Daimler says the latest generation sets an industry standard for autonomous system integration. 'Fully integrating Torc's autonomous driver with Daimler Truck's Freightliner Cascadia platform creates an industry-first, scalable, physical-AI autonomous trucking solution,' Schmidt said in an April statement Recommended Reading Torc Robotics expects to remove truck drivers on public roads by 2027 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
Yahoo
a day ago
- Business
- Yahoo
CAL Q1 Earnings Call: Management Cites Tariff and Sourcing Headwinds, Suspends Guidance
Footwear company Caleres (NYSE:CAL) missed Wall Street's revenue expectations in Q1 CY2025, with sales falling 6.8% year on year to $614.2 million. Its non-GAAP EPS of $0.22 per share was 39.7% below analysts' consensus estimates. Is now the time to buy CAL? Find out in our full research report (it's free). Revenue: $614.2 million (6.8% year-on-year decline) Adjusted EPS: $0.22 vs analyst expectations of $0.37 (39.7% miss) Adjusted Operating Income: $12.21 million vs analyst estimates of $19.4 million (2% margin, 37.1% miss) Operating Margin: 1.9%, down from 6.6% in the same quarter last year Market Capitalization: $558.4 million Caleres' first quarter results were shaped by softer consumer demand and operational pressures across both its Brand Portfolio and Famous Footwear segments. CEO Jay Schmidt pointed to particularly weak February sales, with some improvement in March and April, though overall performance remained below plan. Management attributed the underperformance to lower gross margins, higher inventory reserves, and increased costs tied to sourcing disruptions and tariffs. Schmidt acknowledged, 'Our first quarter results fell short of expectations,' highlighting the company's exposure to both macroeconomic volatility and specific industry challenges. Additional factors included higher-than-anticipated bad debt write-downs, as customer credit conditions worsened compared to last year. Looking ahead, Caleres is suspending formal guidance due to ongoing volatility in tariffs and global sourcing. Management emphasized a focus on cost controls and structural expense reductions, with CFO Jack Calandra detailing a $15 million annualized SG&A reduction initiative. The company is also navigating uncertainty around tariff timelines and potential sourcing disruptions, which could impact both gross margins and inventory. Schmidt noted, 'We must redouble our efforts to drive growth and profitability,' while also pointing to upcoming product launches and store format changes, such as the broader rollout of the Jordan brand and continued expansion of FLAIR locations, as key initiatives to support future performance. The planned integration of Stuart Weitzman is expected to further diversify the portfolio. Management cited tariff escalation, sourcing disruption, and inventory management as the primary drivers behind the quarter's margin and earnings pressure, while highlighting selective strength in international and direct-to-consumer channels. Tariff and sourcing disruption: The company experienced increased costs and operational complexity from shifting production out of China following new U.S. tariffs. This led to order cancellations, higher costs to relocate manufacturing, and additional inventory write-downs, which collectively pressured gross margins. Inventory management challenges: Caleres was unable to adjust its inventory flow quickly enough as demand softened, resulting in elevated inventory levels and a need for higher markdown reserves, especially in its Brand Portfolio segment. International segment growth: Despite overall declines, international sales—particularly from the Sam Edelman brand—showed double-digit growth, supported by expansion in China, the Middle East, and new marketplace partnerships. Management views these international gains as a strategic counterbalance to domestic softness. Brand Portfolio performance: Lead brands such as Sam Edelman outperformed others, with new product assortments like sneakers and sandals resonating well in key markets. However, Allen Edmonds and Naturalizer faced distinct category challenges, and Vionic's decline was attributed to a timing shift in catalog drops. Famous Footwear and product initiatives: The Famous Footwear segment experienced sequential sales improvement during the quarter, aided by growth in e-commerce and the launch of new brands and store formats. The introduction of the Jordan brand and continued rollout of FLAIR stores are anticipated to boost performance in upcoming periods. Caleres' outlook is shaped by volatile tariff policies, cost-saving initiatives, and evolving consumer demand across its core segments. Tariff environment remains fluid: Management has suspended forward guidance due to ongoing uncertainty around U.S. tariffs on Chinese and global imports. Sourcing disruption and possible further escalation or reversal of tariffs could materially affect gross margins and inventory costs in the next several quarters. Expense reduction and operational efficiency: The company is implementing a $15 million annualized SG&A reduction, with savings expected to materialize in the second half of the year. This initiative is designed to offset profit pressure from lower sales and higher sourcing costs, though management noted that further opportunities for efficiency may emerge as integration partners assess the business. Product and format innovation: Upcoming launches, such as the full-door rollout of the Jordan brand at Famous Footwear and expanded FLAIR store locations, are expected to drive renewed customer engagement. Management also cited ongoing investment in international markets and the integration of Stuart Weitzman as potential growth levers, even as domestic wholesale order books remain 'fluid.' Over the coming quarters, the StockStory team will track (1) the company's ability to reduce inventory and capture anticipated SG&A savings, (2) the impact of new product launches—particularly the Jordan brand rollout and FLAIR store conversions—on segment sales, and (3) progress on the integration and performance of Stuart Weitzman. The evolution of global tariff policy and sourcing costs will also be critical to monitor. Caleres currently trades at a forward P/E ratio of 4.4×. Should you double down or take your chips? See for yourself in our full research report (it's free). Market indices reached historic highs following Donald Trump's presidential victory in November 2024, but the outlook for 2025 is clouded by new trade policies that could impact business confidence and growth. While this has caused many investors to adopt a "fearful" wait-and-see approach, we're leaning into our best ideas that can grow regardless of the political or macroeconomic climate. Take advantage of Mr. Market by checking out our Top 6 Stocks for this week. This is a curated list of our High Quality stocks that have generated a market-beating return of 183% over the last five years (as of March 31st 2025). Stocks that made our list in 2020 include now familiar names such as Nvidia (+1,545% between March 2020 and March 2025) as well as under-the-radar businesses like the once-small-cap company Exlservice (+354% five-year return). Find your next big winner with StockStory today. Sign in to access your portfolio
Calgary Herald
2 days ago
- Sport
- Calgary Herald
FLAMES RETOOL TRACKER: Which right-wingers could Calgary target in 2025 NHL Draft?
Article content There has been so much focus on centre ice that it's easy to forget that the Calgary Flames are thin on right wing, too. Article content When the name-calling commences at the 2025 NHL Draft, the Flames will be determined to address both. Pivot prospects should be the priority with one or even both of their first-round picks, but could they target a future flank with the No. 54 overall selection? Article content Article content Article content Measurements: 5-foot-7, 161 pounds Article content The skinny: If he wasn't so small, Schmidt likely would be a shoo-in to be selected in the first round. He still could hear his name called on opening night, but it wouldn't be a huge shock to see him slide and that could turn him into a potential steal. This on-the-rise righty has blazing speed and a wicked shot, two things that will appeal to the Flames. The question is: Will he be too easy to push around at the pro level? Schmidt was coached at RINK Academy in Kelowna by Jarome Iginla, so his input will be invaluable. Article content Article content Measurements: 6-foot-2, 192 pounds Article content Article content The skinny: There were a lot of smiles around Calgary when the Flames plucked Andrew Basha in the second round of the 2024 NHL Draft and there undoubtedly would be a repeat if they pick another hometown hopeful in 2025. The smooth-skating Behm is an alum of Edge School and the Royals 'AAA' program. He made headlines by winning a national golf long-drive title last summer and scouts have been impressed with the velocity that he can fire a hockey puck, too. He is projected to be a second-rounder. Article content Article content Measurements: 5-foot-10, 166 pounds Article content The skinny: The World Under-18 Championship is one of the most important scouting showcases of the season and Ekberg certainly didn't waste his opportunity to make a positive impression. He won the tournament scoring title — and nabbed MVP honours, too — with 10 goals and 18 points in seven outings for Team Sweden. The Flames have had past success with mid-round swings on undersized forwards and, because defence prospect Henry Mews played part of this season with the 67's, the decision-makers at the Saddledome should be mighty familiar with Ekberg.
Indianapolis Star
2 days ago
- Business
- Indianapolis Star
Retro Indy: Indiana has long rich history of brewing its own beers
(Editor's note: A version of this story originally appeared in 2014.) With its rich German history, Indianapolis has had a long tradition of being home to many a brewery. From the time John Young and William Wernweg set up the city's first brewery in 1834 until April 2, 1918, when the state of Indiana went dry due to Prohibition, Indianapolis had a bustling beer brewing industry. A contractor for the National Road bridges, Wernweg stopped work long enough to join forces with Young to create the city's first brewery on the south side of Maryland Street near West Street. Once Wernweg returned to building bridges six years after the brewery opened, the two original owners sold it to Frenchman René Faux, who found more profit in the sale of yeast to housewives than in the sale of beer. That did not stop Faux from opening a second brewery at Washington Street and College Avenue, according to the Encyclopedia of Indianapolis. At that point, his former partner John Philip Meikel opened his own brewery down the street at Washington and California Streets. These early breweries all offered "strong beer," a concoction that was neither lager nor ale. In 1859 C.F. Schmidt began turning out barrels of suds and proved to be the first successful brewmaster serving lager. The Schmidt brewery occupied an entire block on Alabama Street with a two-story brewery, huge ice house, malt and bottling houses, and 50 horses and 30 wagons. Competition came in 1863 in the form of the Pete Lieber Brewery on Madison Avenue followed by the Casper Maus Brewery on West New York Street in 1868. The three breweries joined forces in 1889 to form the Indianapolis Brewing Co. and began exporting beer to Canada and Cuba. Eventually there were at least 18 breweries operating in Indianapolis, turning out brews called Duesseldorfer, Lieber's Gold Medal Beer, Indiana Club Pilsner Style, Imperial and Duselager. In brewing terms, the industry "bloomed" until Indiana became a dry state in 1918 — about a year before Congress passed the Volstead Act Oct. 27, 1919. Across the state, Indiana had 76 breweries at the time that Prohibition took effect, according to the website Indiana Beverage. After Prohibition ended in 1933, however, it took decades for Indiana to see a robust craft beer industry again. While some breweries did reopen after Prohibition, many did not survive to the competition from national beer brands. Craft beer started experiencing a resurgence in Indianapolis the 1990s. Many credit the opening of the Broad Ripple Brewpub in 1990 with its microbrewery next door with starting the trend here. By 1991 the Indianapolis News reported that the brewpub had become a "hot spot for others who enjoy stronger, more flavorful drink than the average American brew," serving more than 40 different beers, five of which were brewed on site. In 1993 the Indianapolis Star reported that the Broad Ripple Brewpub and a brewery in Mishawaka were the only two brewpubs in the state. But soon after that, the trend started to catch on and more breweries opened their doors. In 1996 the inaugural Indiana Microbrewers Festival was held. The annual event grew by the year and by 2004 the number of microbreweries in the state had grown to at least 17, an Indianapolis Star story about that year's festival reported. Among that number was the Broad Ripple Brewpub, whose owner reported that he had seen his business grow by 5% to 10% each year.
The Advertiser
2 days ago
- Sport
- The Advertiser
'Spread his wings': Wallabies coach on Cleary switch
The New Zealand rugby nursery responsible for Wallabies wrecking ball Taniela Tupou is the latest link between Nathan Cleary and a shock code switch. Fifty days out from the first British and Irish Lions Test in Brisbane, Wallabies coach Joe Schmidt has weighed in on the prospect of the Penrith NRL halfback making the move to rugby. Asked for his thoughts, the Kiwi coach was quick to point out Cleary spent two years at Auckland's Sacred Hearts College while his father Ivan coached the Warriors. It comes after two-time World Cup winner Tim Horan claimed the NSW State of Origin star was "quite keen to come to rugby", with cashed-up European clubs an option given Cleary's UK-based Matildas star girlfriend Mary Fowler plays for Manchester City. "I watched State of Origin ... he obviously went to Sacred Heart College in New Zealand when Ivan was coaching the Warriors," Schmidt said. "That's (former All Blacks captain) Sean Fitzpatrick country, that's Taniela Tupou country. It's certainly a rugby school. "He played soccer as a young man, he's played league. He might want to spread his wings. "At the same time we've got a really good stock there that we're focused on in the very short term." Schmidt will slowly add to his wider Wallabies squad as Australia's teams finish their Super Rugby Pacific duties, with the NSW Waratahs hopeful of joining the Queensland Reds and ACT Brumbies in next week's finals series. The first squad will be selected in grand final week next month, if no Australia team is featuring. But Schmidt, explaining in cricketing parlance, said any team that did reach the decider would naturally command attention from Test selectors. "It does ramp up; there's more pressure in play-off games, and we're getting a few guys back," he said of the weight placed on finals form. "The longer you stay at the crease, the more chance you've got to accumulate runs. "We might even see a couple of nice strokes that get them over the line." The coach was also thrilled to learn that halfback Tate McDermott had declined the sabbatical option in his contract for next season and would be remaining at the Reds, alongside budding Test No.10 Tom Lynagh. "That helps when the pressure comes on. "If Tate went on a sabbatical, we weren't letting him go for long anyway ... but to have him continuously is a huge advantage." McDermott said continuity on and off the field - he is to be married this year - contributed to his decision. "I'm not going to stand here and say I had 100 offers, because I didn't. There was some interest in Europe, but I love playing for Queensland," he said. McDermott and Lynagh have combined well for the Reds and could wear the No.9 and No.10 for the Wallabies later this year. "We've only just started. We can go into the Test arena together," McDermott said ahead of the Reds' final regular-season game against the Fijian Drua at Suncorp Stadium on Saturday. "In order to do that we have to be playing consistently well in the maroon jersey. "We're not where we want to be, but moving in the right direction, and the continuity, I'm happy to be a part of that. "I want to win more with Queensland." The New Zealand rugby nursery responsible for Wallabies wrecking ball Taniela Tupou is the latest link between Nathan Cleary and a shock code switch. Fifty days out from the first British and Irish Lions Test in Brisbane, Wallabies coach Joe Schmidt has weighed in on the prospect of the Penrith NRL halfback making the move to rugby. Asked for his thoughts, the Kiwi coach was quick to point out Cleary spent two years at Auckland's Sacred Hearts College while his father Ivan coached the Warriors. It comes after two-time World Cup winner Tim Horan claimed the NSW State of Origin star was "quite keen to come to rugby", with cashed-up European clubs an option given Cleary's UK-based Matildas star girlfriend Mary Fowler plays for Manchester City. "I watched State of Origin ... he obviously went to Sacred Heart College in New Zealand when Ivan was coaching the Warriors," Schmidt said. "That's (former All Blacks captain) Sean Fitzpatrick country, that's Taniela Tupou country. It's certainly a rugby school. "He played soccer as a young man, he's played league. He might want to spread his wings. "At the same time we've got a really good stock there that we're focused on in the very short term." Schmidt will slowly add to his wider Wallabies squad as Australia's teams finish their Super Rugby Pacific duties, with the NSW Waratahs hopeful of joining the Queensland Reds and ACT Brumbies in next week's finals series. The first squad will be selected in grand final week next month, if no Australia team is featuring. But Schmidt, explaining in cricketing parlance, said any team that did reach the decider would naturally command attention from Test selectors. "It does ramp up; there's more pressure in play-off games, and we're getting a few guys back," he said of the weight placed on finals form. "The longer you stay at the crease, the more chance you've got to accumulate runs. "We might even see a couple of nice strokes that get them over the line." The coach was also thrilled to learn that halfback Tate McDermott had declined the sabbatical option in his contract for next season and would be remaining at the Reds, alongside budding Test No.10 Tom Lynagh. "That helps when the pressure comes on. "If Tate went on a sabbatical, we weren't letting him go for long anyway ... but to have him continuously is a huge advantage." McDermott said continuity on and off the field - he is to be married this year - contributed to his decision. "I'm not going to stand here and say I had 100 offers, because I didn't. There was some interest in Europe, but I love playing for Queensland," he said. McDermott and Lynagh have combined well for the Reds and could wear the No.9 and No.10 for the Wallabies later this year. "We've only just started. We can go into the Test arena together," McDermott said ahead of the Reds' final regular-season game against the Fijian Drua at Suncorp Stadium on Saturday. "In order to do that we have to be playing consistently well in the maroon jersey. "We're not where we want to be, but moving in the right direction, and the continuity, I'm happy to be a part of that. "I want to win more with Queensland." The New Zealand rugby nursery responsible for Wallabies wrecking ball Taniela Tupou is the latest link between Nathan Cleary and a shock code switch. Fifty days out from the first British and Irish Lions Test in Brisbane, Wallabies coach Joe Schmidt has weighed in on the prospect of the Penrith NRL halfback making the move to rugby. Asked for his thoughts, the Kiwi coach was quick to point out Cleary spent two years at Auckland's Sacred Hearts College while his father Ivan coached the Warriors. It comes after two-time World Cup winner Tim Horan claimed the NSW State of Origin star was "quite keen to come to rugby", with cashed-up European clubs an option given Cleary's UK-based Matildas star girlfriend Mary Fowler plays for Manchester City. "I watched State of Origin ... he obviously went to Sacred Heart College in New Zealand when Ivan was coaching the Warriors," Schmidt said. "That's (former All Blacks captain) Sean Fitzpatrick country, that's Taniela Tupou country. It's certainly a rugby school. "He played soccer as a young man, he's played league. He might want to spread his wings. "At the same time we've got a really good stock there that we're focused on in the very short term." Schmidt will slowly add to his wider Wallabies squad as Australia's teams finish their Super Rugby Pacific duties, with the NSW Waratahs hopeful of joining the Queensland Reds and ACT Brumbies in next week's finals series. The first squad will be selected in grand final week next month, if no Australia team is featuring. But Schmidt, explaining in cricketing parlance, said any team that did reach the decider would naturally command attention from Test selectors. "It does ramp up; there's more pressure in play-off games, and we're getting a few guys back," he said of the weight placed on finals form. "The longer you stay at the crease, the more chance you've got to accumulate runs. "We might even see a couple of nice strokes that get them over the line." The coach was also thrilled to learn that halfback Tate McDermott had declined the sabbatical option in his contract for next season and would be remaining at the Reds, alongside budding Test No.10 Tom Lynagh. "That helps when the pressure comes on. "If Tate went on a sabbatical, we weren't letting him go for long anyway ... but to have him continuously is a huge advantage." McDermott said continuity on and off the field - he is to be married this year - contributed to his decision. "I'm not going to stand here and say I had 100 offers, because I didn't. There was some interest in Europe, but I love playing for Queensland," he said. McDermott and Lynagh have combined well for the Reds and could wear the No.9 and No.10 for the Wallabies later this year. "We've only just started. We can go into the Test arena together," McDermott said ahead of the Reds' final regular-season game against the Fijian Drua at Suncorp Stadium on Saturday. "In order to do that we have to be playing consistently well in the maroon jersey. "We're not where we want to be, but moving in the right direction, and the continuity, I'm happy to be a part of that. "I want to win more with Queensland."
