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OpenAI says the chatbot has doubled its user count over the last year to more than 200 million per week.
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ChatGPT may already have more monthly users than Netflix
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Ulta Beauty reports disappointing earnings after Warren Buffett’s Berkshire Hathaway takes stake
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Ulta Beauty’s (ULTA) glow-up may be coming to an end.
On Thursday after market close, the beauty retailer reported second quarter results that missed estimates across the board. Revenue came in at $2.55 billion, compared to $2.62 billion expected. Earnings per share of $5.30 also fell short of the $5.50 expected.
CEO Dave Kimbell acknowledged the disappointing results in an earnings call.
“We do not believe these results reflect the strong engagement with our brand, the strength of our operating model, or the performance I know we can deliver over the longer term,” he said.
He outlined a few factors weighing on Ulta, including normalizing demand post-pandemic, more value-conscious consumers, and a shift in the marketplace.
“There are significantly more places to buy beauty, especially prestige beauty, with more than 1,000 new points of distribution opened in the last three years. As a result, our market share continues to be challenged, particularly within prestige beauty,” Kimbell said.
Kylie Cosmetics are displayed at Ultra beauty on Nov. 18, 2019, in New York City. (David Dee Delgado/Getty Images) (David Dee Delgado via Getty Images) Same-store sales declined 1.2% year over year, a stark contrast to the 8% and 14.4% increases seen in 2023 and 2022, respectively. Ulta now projects same-store sales to fall 2% to 0% for fiscal year 2024, compared to the previous guidance of a 2%-3% jump. It expects revenue to come in between $11.0 billion and $11.2 billion, less than the previous range of $11.5 billion to $11.6 billion.
Kimbell said the team is “aggressively taking actions” in five areas: strengthening assortment, expanding social relevance using influencers and creators, enhancing the digital experience, leveraging its loyalty program, and building up its promotional activities.
Shares fell 7% in after-hours trading. The stock has shed roughly 25% since the start of the year and more than 30% in the last six months.
Analysts feared these results as consumers are becoming extra mindful about spending while competition is increasing and retail theft remains an issue.
“We think beauty demand may come under pressure in 2024 as consumer budgets remain stressed after two years of elevated rates. We think consumers will lean into shopping closer to refill, shopping for innovation-led solutions, and leveraging consumer rewards,” CFRA analyst Ana Garcia wrote in a note to clients.
Prior to the results, UBS analyst Michael Lasser predicted that Ulta Beauty would once again lower its 2024 guidance. However, “ULTA shares are still pricing in too much negativity on the long-term growth and margin prospects for this business,” he said.
“We don’t view ULTA’s model as broken or structurally disadvantaged.” Rather, it is “digesting several years of outsized category growth” and increased competition, including online players like Amazon and TikTok shops, he added.
According to a report from foot traffic analytics platform Placer.ai, Ulta Beauty is still seeing outsized foot traffic growth compared to the rest of the beauty and wellness industry.
On Aug. 14, Berkshire Hathaway (BRK-A, BRK-B) revealed in a regulatory filing that it bought 690,106 Ulta shares in Q2, worth roughly $266 million as of the end of June, Yahoo Finance’s Edwin Roman reported.
At the time, BMO Capital Markets managing director Simeon Siegel told Yahoo Finance that the move provided “a big stamp of approval for Ulta Beauty.”
Ulta’s stock is up more than 50% in the past five years, benefiting from a boom in beauty and wellness post-COVID. However, it has underperformed the broader market; the S&P 500 is up more than 90% during the same period.
The earnings breakdown
Here’s what Ulta Beauty reported in Q2, compared to Wall Street expected, per Bloomberg consensus.
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Revenue: $2.55 billion compared to $2.62 billion
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Adjusted earnings per share: $5.30 compared to $5.49
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Same-store sales growth: -1.2% compared to +1.32%
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Brooke DiPalma is a senior reporter for Yahoo Finance. Follow her on Twitter at @BrookeDiPalma or email her at bdipalma@yahoofinance.com.
StockStory aims to help individual investors beat the market.
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Matt Lauer’s Daughter Romy Knocks Over Hamptons Fence and Drives Away – Hollywood Life
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Image Credit: Getty Images Matt Lauer’s daughter was reportedly caught by Hamptons police for crashing her car into a fence and fleeing the scene over the Fourth of July weekend.
According to Page Six, Romy Lauer, 20, got caught because she left behind the license plate of her Jeep Wrangler, which had fallen off during the fender-bender. This allowed Southampton Town police to identify the daughter of the former Today show host, whom he shares with his ex-wife Annette Roque.
Earlier in the day, Romy and her friends spent part of the holiday weekend partying at Kissaki Sushi in Water Mill, as seen in a TikTok video. By about 4 a.m. on July 5, she was on the road in Southampton.
A resident on North Sea Mecox Road was woken up by a loud bang and called 911, worried that someone was seriously hurt in the crash. When local police arrived, they found a fence and a sign knocked over but no culprit.
@romylauer1 Romy—who studies finance at the University of Miami—had joked about racing a car just hours before smashing her vehicle into the fence and sign, as seen in another TikTok video.
On July 4, Romy and two of her friends mouthed the words to Kevin James’ viral speech at the Daytona 500 in 2007: “I’ve just got three things to say: God bless our troops, God bless America and, gentlemen, start your engines.” Romy enthusiastically delivered the last part of the phrase in the clip, smiling and waving her arms high.
Romy was issued a summons for leaving the scene of an accident and is being represented by top lawyer Edward Burke Jr., who previously defended her father. Burke’s other famous clients include Justin Timberlake, Lizzie Grubman, and Jason Kidd.
On Friday, Aug. 2, Timberlake lost his driving privileges in New York following his latest hearing, stemming from his June 18 DWI arrest, where he failed field sobriety tests and was arrested on suspicion of intoxicated driving in the Hamptons area of Long Island.
Lauer, 66, was fired from the Today show in 2017 over numerous sexual abuse allegations. The former NBC star has maintained that he never assaulted anyone or forced anyone into sex, though he did acknowledge having extramarital encounters.
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Jenna Ortega Is Utter Perfection in Harris Reed at the 'Beetlejuice Beetlejuice' UK Premiere
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Jenna Ortega is on a sartorial roll (an on-theme one at that): Earlier this month, the actor began her press tour circuit for the highly anticipated “Beetlejuice Beetlejuice” film. A sequel to the beloved 1988 horror comedy, the movie also stars returning actors Winona Ryder, Catherine O’Hara and …[ad_2]
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How Online Gaming Influences TV Show Storylines and Fan Engagement
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In recent years, online gaming has become a staple in entertainment and a significant cultural force, shaping narratives and engagement across various media. Particularly in television, we’ve seen an infusion of gaming elements that enrich and complicate storylines, drawing viewers deeper into show universes. This evolution reflects a broader trend toward interactive and transmedia storytelling, where the lines between viewer and participant blur, creating a more immersive experience. As we explore how these gaming principles are integrated into TV shows, the impact extends beyond the screen, fostering a more engaged and connected fan base.Influence of Online Gaming on TV Show Storylines: A New Narrative Frontier
Online gaming has left an indelible mark on the landscape of television storytelling. Programs like Westworld utilize narratives reminiscent of complex video games, where characters move through various levels of reality, much like players advancing through game stages.
The series Black Mirror takes this concept further with episodes like “Playtest” and “Bandersnatch,” which directly incorporate gaming technology and decision-driven plots into their storytelling. Midway through a game-inspired episode, viewers might ponder the stakes of their choices, similar to a gamer considering a strategic move to capitalize on an opportunity like a $10 Free Sign Up Pokies. These episodes explore the psychological effects of immersive gaming and utilize a narrative format that mimics player choice in video games, where each decision can lead to vastly different outcomes.
Such innovative narrative techniques redefine viewer expectations and compel television creators to continuously evolve their storytelling methods. Audiences now seek—and expect—a level of interactivity and complexity that mirrors their interactive experiences, pushing narrative boundaries and expanding the possibilities within TV development.
How Online Gaming and Social Media Drive Fan Engagement
Online games that tie into TV show storylines significantly boost fan engagement, creating vibrant communities around shared interests. These games provide a platform for fans to dive deeper into the worlds they love, often affecting the television series through their active participation. Key aspects of this dynamic include:
-Community-driven story extensions: Shows like Game of Thrones and The Walking Dead offer official games that invite fans to explore and influence the narrative beyond the screen.
-Fan theories shaping the shows: Series such as Sherlock and Stranger Things often see their creators engaging with fan theories discussed on platforms like Reddit. This interaction can lead to elements of these theories being incorporated into the show, making fans feel valued and part of the storytelling process.
-Engagement through social media: Social media platforms like Twitter and Reddit are crucial for nurturing these fan bases, where lively discussions and theories can catch the showrunner’s attention. For instance, Westworld fans frequently engage in online debates that have prompted the show’s creators to participate directly, enhancing the communal connection and deepening the fans’ investment in the series.The Role of Casino Games in TV Shows
Casino and gambling elements regularly add critical drama to TV shows, creating high-stakes tension and revealing deeper character traits. These scenes reflect real-life risks and decisions, making the narrative more engaging and relatable. For example, Breaking Bad uses a blackjack game to mirror Walter White’s increasing risks in his criminal life, while The Sopranos uses gambling to echo the unpredictability of mob dynamics. These integrations do more than entertain; they enhance the story’s tension and keep viewers hooked by aligning the thrill of gambling with pivotal plot developments.
Effects of Gamification on Narrative Complexity
Gamification in TV plots—like introducing viewer challenges and rewards—mirrors the interactive nature of online gaming. This technique turns viewers from passive observers into active participants, often allowing them to influence the story’s direction through voting or interactive options, similar to how players control outcomes in video games.
As we consider this evolving landscape, exploring the gamified future significantly impacts our future, transforming how we interact with and consume media. The effectiveness of this approach can vary. When well-integrated, gamification can deepen viewer involvement and add exciting, dynamic layers to the storytelling, enhancing the overall experience. However, it can appear to be a gimmick when used just for novelty, distracting from meaningful character development and the plot’s natural progression. The success of gamification in TV hinges on its ability to enrich the narrative without overshadowing the fundamental elements that make the story compelling.
Conclusion
Integrating online gaming elements into TV storytelling has created a symbiotic relationship that enhances narrative complexity and deepens viewer engagement. By incorporating interactive and game-like challenges, TV shows attract gamers and redefine audience expectations for interactive storytelling. This trend suggests a future where the boundaries between gaming and TV narratives continue to blur, potentially leading to more immersive and participatory forms of entertainment that could reshape the TV and gaming industries.
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‘Only the River Flows’ Review: The Emotional Burdens of Life’s Uncertainty
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‘Only the River Flows’ Review: The Emotional Burdens of Life’s Uncertainty | Talking Films
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Dell’s stock gets a boost as earnings show huge growth in AI servers
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Demand for Dell’s AI servers was up 23% sequentially in the latest quarter.
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15 Countries With the Shortest Workweeks in the World
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Martin Valigursky / Shutterstock.com Work, work, work. Seems like nowadays our jobs are taking more and more of our time. But that actually all depends on where you live. The International Labour Organization has determined how many hours people work, on average, around the world. The ILO notes that “workers should have access to a minimum desirable number of hours of work” to earn enough money to pay for what they and their…
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Las Vegas Casinos Could Be Pinched by Consumer Lethargy
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Posted on: August 29, 2024, 04:21h.
Last updated on: August 29, 2024, 04:21h.
It was just one month, but Nevada’s gross gaming revenue (GGR) report for July was bad. That could signal consumers are pulling back on gaming-related spending.
Part of the Las Vegas Strip. An analyst says lower-end properties were behind the July drop in Nevada gaming revenue. (Image: The Wall Street Journal) In the seventh month of the year, Nevada casinos and gaming bars won $1.3 billion, a 7% year-over-year drop. GGR on the Las Vegas Strip — the casino hub of the US — tumbled 15%, representing the first month-over-month decline in four months. That’s prompting some analysts to take a more cautious of domestic leisure travel demand.
In a new report to clients, Macquarie analyst Chad Beynon acknowledged that July 2024 was a tough comparison for Strip operators relative to year-earlier period because there were two fewer weekend days in the month this year. He added that revenue per available room (RevPAR) — one of the key non-gaming metrics for casino operators — dipped 4% last month.
Although we remain positive on the non-gaming outlook in Vegas given strong group travel and events calendar, we are becoming more cautious on slowing leisure travel demand, which could lead to a more competitive promotional environment and hurt Vegas margins,” observed the analyst.
He maintained “outperform” ratings on MGM Resorts International (NYSE: MGM) and Caesars Entertainment (NASDAQ: CZR), the two largest Strip operators, while keeping $52 price targets on both gaming stocks.
Lower-End Strip Casinos Could Be Hurt Be Consumer Pullback
Beynon added that the aforementioned 4% RevPAR drop experienced in July was largely attributable to “lower-end” Strip properties.
That’s a double-edged sword because while it implies there’s still resilience and vibrancy among more affluent visitors to the Strip, there are many consumers that are in the middle economically speaking. When they visit Las Vegas, they typically stay at mid-tier integrated resorts — plenty of which are operated by the likes of Caesars and MGM.
Both companies have their share of high-end Strip properties, but as the operators of venues such as Excalibur and Luxor (MGM) and Flamingo and Harrah’s (Caesars), each could be hampered if middle class consumers dial back gaming-related spending and travel.
“We still expect table and slot volumes to rebound back to trend in August. For 2024E, we now expect Strip GGR to come in around -2% with a tougher 2H comp,” added Beynon.
California Could Be Problematic
Over the past several years, the US economy has grappled with the highest inflation rates in four decades and, as a result, the highest interest rates in over 20 years. Still, consumers have remain dedicated to casinos, particularly in Las Vegas, and inflation is cooling, stoking hope the gaming industry will remain resilient.
Still, there have been signs that all is not well in the land-based gaming industry. For example, some operators have reported softness in some regional markets this year, most of it attributable to lower-rated players reining in spending.
Specific to Nevada, the state’s casinos could be pinched by other macroeconomic headwinds, including its tie with California for the highest unemployment rate in the country. That could weigh on Las Vegas locals gaming venues and taverns while California’s elevated jobless rate and the highest gas prices in the country could compel some consumers there to reduce visitation to Las Vegas and Reno. California accounts for about 20% of visitation to Las Vegas gaming properties.
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