Retail Sales https://www.benzinga.com/views/taxonomy/term/30777 en Apple $425 Per Share Case 'On The Horizon,' Analyst Says https://www.benzinga.com/news/20/06/16186352/apple-425-per-share-case-on-the-horizon-analyst-says <p><strong>Apple Inc.</strong> (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/aapl#NASDAQ">AAPL</a>) has weathered the economic impact of the novel coronavirus pandemic in a &quot;Jacques Cousteau-like fashion,&quot; and the consumer electronics company <a href="https://wedbush.bluematrix.com/sellside/EmailDocViewer?encrypt=04db75d4-6e1e-4755-a122-d9ea3753f3b3&amp;mime=pdf&amp;co=wedbush&amp;id=equityresearchdistribution@wedbush.com&amp;source=mail">could become</a> the first to cross $2 trillion in market valuation by the end of 2021, according to Wedbush.</p> <h3>AAPL Rating, Price Target</h3> <p>Wedbush analyst <a href="https://www.tipranks.com/analysts/daniel-ives">Daniel Ives</a> maintained an outperform rating and increased its price target from $350 to $375. Ives upgraded its bull case for AAPL shares from $400 to $425.</p> <h3>&#39;Major 5G cycle on the horizon&#39; For Apple</h3> <p>Wedbush said in an analyst note on Thursday that Apple is best set to benefit from the growth of 5G standard for cellular networks, alongside a growth in its services business.</p> <p>The analysts reiterated ...</p><p><a href=https://www.benzinga.com/news/20/06/16186352/apple-425-per-share-case-on-the-horizon-analyst-says alt=Apple $425 Per Share Case &#039;On The Horizon,&#039; Analyst Says>Full story available on Benzinga.com</a></p> 5G AAPL Covid-19 iPhone News Tim Cook Wedbush Retail Sales Analyst Ratings Tech General AAPL US0378331005 News Retail Sales Analyst Ratings Tech General Benzinga Fri, 05 Jun 2020 04:07:30 +0000 Neer Varshney 16186352 at https://www.benzinga.com Volaris Reports May 2020 Traffic Results: Schedule Reductions to Face COVID-19 https://www.benzinga.com/pressreleases/20/06/n16186105/volaris-reports-may-2020-traffic-results-schedule-reductions-to-face-covid-19 <p xmlns="http://www.w3.org/1999/xhtml"><span xmlns="http://www.w3.org/1999/xhtml" class="xn-location">MEXICO CITY</span>, <span xmlns="http://www.w3.org/1999/xhtml" class="xn-chron">June 4, 2020</span> /PRNewswire/ -- Volaris* (NYSE: <b xmlns="http://www.w3.org/1999/xhtml">VLRS</b> and BMV:<b xmlns="http://www.w3.org/1999/xhtml"> VOLAR</b>), the ultra-low-cost airline serving <span xmlns="http://www.w3.org/1999/xhtml" class="xn-location">Mexico</span>, <span xmlns="http://www.w3.org/1999/xhtml" class="xn-location">the United States</span> and <span xmlns="http://www.w3.org/1999/xhtml" class="xn-location">Central America</span>, reports<b xmlns="http://www.w3.org/1999/xhtml"> May</b> <b xmlns="http://www.w3.org/1999/xhtml">2020</b> preliminary traffic results.</p> <div xmlns="http://www.w3.org/1999/xhtml" class="PRN_ImbeddedAssetReference" id="DivAssetPlaceHolder1"> <p xmlns="http://www.w3.org/1999/xhtml"> <a xmlns="http://www.w3.org/1999/xhtml" href="https://mma.prnewswire.com/media/194587/volaris_logo.html" target="_blank" rel="nofollow" rel="nofollow"><br /> <img xmlns="http://www.w3.org/1999/xhtml" src="https://mma.prnewswire.com/media/194587/volaris_logo.jpg" title="Volaris Logo (PRNewsFoto/Volaris)" alt="Volaris Logo (PRNewsFoto/Volaris)" /><br /> </a> </p> </div> <p xmlns="http://www.w3.org/1999/xhtml">In <span xmlns="http://www.w3.org/1999/xhtml" class="xn-chron">May 2020</span>, Volaris carefully managed its network in response to the decline in demand for air travel due to the SARS-CoV-2 (COVID-19) pandemic.  As a result, and in line with prior capacity guidance issued by the Company, <b xmlns="http://www.w3.org/1999/xhtml">capacity</b> measured by ASMs (Available Seat Miles) decreased by 88.1% vs the same period of last year, while <b xmlns="http://www.w3.org/1999/xhtml">demand </b>measured by RPMs (Revenue Passenger Miles) decreased 88.1% year over year. Volaris transported a total of 213 thousand <b xmlns="http://www.w3.org/1999/xhtml">passengers</b> during the month of May, a decrease of 88.9% year over year. </p> <p xmlns="http://www.w3.org/1999/xhtml">Network-wide booked <b xmlns="http://www.w3.org/1999/xhtml">load factor</b> for <span xmlns="http://www.w3.org/1999/xhtml" class="xn-chron">May 2020</span> was 87.5%, with a 105% international booked <b xmlns="http://www.w3.org/1999/xhtml">load factor</b>. The unusually high booked load factor on international flights was a result of the consolidation of flights due to the COVID-19 related itinerary reductions. Onboard <b xmlns="http://www.w3.org/1999/xhtml">load factor</b> in the international market was 90%. Volaris continues to offer flexible change policies for its customers. </p> <p xmlns="http://www.w3.org/1999/xhtml">Volaris&#39; President and Chief Executive Officer, <span xmlns="http://www.w3.org/1999/xhtml" class="xn-person">Enrique Beltranena</span>, commenting on the traffic results for <span xmlns="http://www.w3.org/1999/xhtml" class="xn-chron">May 2020</span>, said: &#34;Volaris priority continues to be safeguarding the health of our customers and ambassadors, while actively managing our operations to minimize the financial impacts in this challenging time and preserve capital.  During June, we are implementing new biosecurity and preventive measures for the safety and well-being of Volaris&#39; personnel and passengers, and are launching a parallel communication campaign entitled <b xmlns="http://www.w3.org/1999/xhtml"><i xmlns="http://www.w3.org/1999/xhtml"><u xmlns="http://www.w3.org/1999/xhtml"><a xmlns="http://www.w3.org/1999/xhtml" target="_blank" href="https://cms.volaris.com/en/travel-info/fly-sure/?countryflag=United+States+_+English" rel="nofollow" rel="nofollow">con Volaris SEGURO vuelas</a></u></i></b>. May traffic was the most impacted month by COVID-19 to date. Nevertheless, for <span xmlns="http://www.w3.org/1999/xhtml" class="xn-chron">June 2020</span> <a xmlns="http://www.w3.org/1999/xhtml" target="_blank" href="https://volaris1-my.sharepoint.com/personal/carlos_gonzalez_volaris_com/Documents/2020/Volaris%20announced" rel="nofollow" rel="nofollow">Volaris announced</a> it will operate approximately 33% of the originally planned schedule, responding to recent, stronger demand.&#34; </p> <p xmlns="http://www.w3.org/1999/xhtml">The following table summarizes Volaris traffic results for the month and year to date. </p> <div ...<p><a href=https://www.benzinga.com/pressreleases/20/06/n16186105/volaris-reports-may-2020-traffic-results-schedule-reductions-to-face-covid-19 alt=Volaris Reports May 2020 Traffic Results: Schedule Reductions to Face COVID-19>Full story available on Benzinga.com</a></p> Airlines/Aviation BMV:VOLAR Passenger Aviation Transportation/Trucking/Railroad VLRS Retail Sales Press Releases Fri, 05 Jun 2020 00:32:00 +0000 PRNewswire 16186105 at https://www.benzinga.com Salient Midstream & MLP Fund Announces Unaudited Net Asset Value As Of May 31, 2020 https://www.benzinga.com/pressreleases/20/06/n16185887/salient-midstream-mlp-fund-announces-unaudited-net-asset-value-as-of-may-31-2020 <p xmlns="http://www.w3.org/1999/xhtml"><span xmlns="http://www.w3.org/1999/xhtml" class="xn-location">HOUSTON</span>, <span xmlns="http://www.w3.org/1999/xhtml" class="xn-chron">June 4, 2020</span> /PRNewswire/ -- Salient Midstream &amp; MLP Fund (the &#34;Fund&#34;) (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SMM#NYSE" rel="nofollow">SMM</a>) provided today a summary of unaudited statement of assets and liabilities and announced Net Asset Value (NAV) as of <span xmlns="http://www.w3.org/1999/xhtml" class="xn-chron">May 31, 2020</span>. </p> <p xmlns="http://www.w3.org/1999/xhtml">On <span xmlns="http://www.w3.org/1999/xhtml" class="xn-chron">May 31, 2020</span>, the Fund&#39;s total assets were <span xmlns="http://www.w3.org/1999/xhtml" class="xn-money">$131.9 million</span> and the NAV per share was <span xmlns="http://www.w3.org/1999/xhtml" class="xn-money">$5.75</span>. On <span xmlns="http://www.w3.org/1999/xhtml" class="xn-chron">May 31, 2020</span>, the closing share price of the Fund was <span xmlns="http://www.w3.org/1999/xhtml" class="xn-money">$4.52</span>, which was trading at a 21.4% discount to the NAV.<sup xmlns="http://www.w3.org/1999/xhtml">1</sup> The Fund&#39;s NAV and market price total returns for the month of May were 8.5% and 8.8%, respectively, compared to 7.1% for the Alerian Midstream Energy Select Index (AMEI).<sup xmlns="http://www.w3.org/1999/xhtml">2</sup></p> <div xmlns="http://www.w3.org/1999/xhtml" class="PRN_ImbeddedAssetReference" id="DivAssetPlaceHolder8532"> <p xmlns="http://www.w3.org/1999/xhtml"><a xmlns="http://www.w3.org/1999/xhtml" href="https://mma.prnewswire.com/media/1176874/Salient_Partners_Allocation_Chart.html" target="_blank" rel="nofollow" rel="nofollow"><img xmlns="http://www.w3.org/1999/xhtml" src="https://mma.prnewswire.com/media/1176874/Salient_Partners_Allocation_Chart.jpg" title="The Fund&#039;s investment allocation as of May 31, 2020 is shown in the pie chart. For illustrative purposes only. Figures are based on the Fund&#039;s gross assets. Source: Salient Capital Advisors, LLC, May 31, 2020. (PRNewsfoto/Salient Partners, L.P.)" alt="The Fund&#039;s investment allocation as of May 31, 2020 is shown in the pie chart. For illustrative purposes only. Figures are based on the Fund&#039;s gross assets. Source: Salient Capital Advisors, LLC, May 31, 2020. (PRNewsfoto/Salient Partners, L.P.)" /></a></p> </div> <p xmlns="http://www.w3.org/1999/xhtml">The Fund&#39;s Top 10 holdings as of <span xmlns="http://www.w3.org/1999/xhtml" class="xn-chron">May 31, 2020</span> are shown below:<sup xmlns="http://www.w3.org/1999/xhtml">3</sup></p> <div xmlns="http://www.w3.org/1999/xhtml"> <table xmlns="http://www.w3.org/1999/xhtml" cellspacing="0" cellpadding="0" border="0" class="prntblns"> <tr xmlns="http://www.w3.org/1999/xhtml"> <td xmlns="http://www.w3.org/1999/xhtml" nowrap="nowrap" class="prngen2"> <p xmlns="http://www.w3.org/1999/xhtml" class="prnews_p"><span xmlns="http://www.w3.org/1999/xhtml" class="prnews_span"><b xmlns="http://www.w3.org/1999/xhtml">No.</b></span></p> </td> <td xmlns="http://www.w3.org/1999/xhtml" class="prngen2"> <p xmlns="http://www.w3.org/1999/xhtml" class="prnews_p"><span xmlns="http://www.w3.org/1999/xhtml" class="prnews_span"><b xmlns="http://www.w3.org/1999/xhtml">Symbol</b></span></p> </td> <td xmlns="http://www.w3.org/1999/xhtml" nowrap="nowrap" class="prnsbt1 prnsbr1 prnvam prnsbb1 prntal prnpl6 prnsbl1 prnpr6"> <p xmlns="http://www.w3.org/1999/xhtml" class="prnews_p"><span xmlns="http://www.w3.org/1999/xhtml" class="prnews_span"><b xmlns="http://www.w3.org/1999/xhtml">Name</b></span></p> </td> <td xmlns="http://www.w3.org/1999/xhtml" nowrap="nowrap" class="prngen2"> <p xmlns="http://www.w3.org/1999/xhtml" class="prnews_p"><span xmlns="http://www.w3.org/1999/xhtml" class="prnews_span"><b xmlns="http://www.w3.org/1999/xhtml">Country</b></span></p> </td> <td xmlns="http://www.w3.org/1999/xhtml" nowrap="nowrap" class="prngen2"> <p xmlns="http://www.w3.org/1999/xhtml" class="prnews_p"><span xmlns="http://www.w3.org/1999/xhtml" class="prnews_span"><b xmlns="http://www.w3.org/1999/xhtml">Asset Type</b></span></p> </td> <td xmlns="http://www.w3.org/1999/xhtml" class="prngen2"> <p xmlns="http://www.w3.org/1999/xhtml" class="prnews_p"><span xmlns="http://www.w3.org/1999/xhtml" class="prnews_span"><b xmlns="http://www.w3.org/1999/xhtml">% of Gross <br xmlns="http://www.w3.org/1999/xhtml" />Assets</b></span></p> </td> </tr> <tr xmlns="http://www.w3.org/1999/xhtml"> <td xmlns="http://www.w3.org/1999/xhtml" nowrap="nowrap" class="prngen4"> <p xmlns="http://www.w3.org/1999/xhtml" class="prnews_p"><span xmlns="http://www.w3.org/1999/xhtml" class="prnews_span">1</span></p> </td> <td xmlns="http://www.w3.org/1999/xhtml" class="prngen4"> <p xmlns="http://www.w3.org/1999/xhtml" class="prnews_p"><span xmlns="http://www.w3.org/1999/xhtml" class="prnews_span">-</span></p> </td> <td xmlns="http://www.w3.org/1999/xhtml" nowrap="nowrap" class="prngen5"> <p xmlns="http://www.w3.org/1999/xhtml" class="prnews_p"><span xmlns="http://www.w3.org/1999/xhtml" class="prnews_span">EMG Utica | Offshore Co-Investment LP</span></p> </td> <td xmlns="http://www.w3.org/1999/xhtml" nowrap="nowrap" class="prngen6"> <p xmlns="http://www.w3.org/1999/xhtml" class="prnews_p"><span xmlns="http://www.w3.org/1999/xhtml" class="prnews_span"> United States </span></p> </td> <td xmlns="http://www.w3.org/1999/xhtml" nowrap="nowrap" class="prngen6"> <p xmlns="http://www.w3.org/1999/xhtml" class="prnews_p"><span xmlns="http://www.w3.org/1999/xhtml" class="prnews_span"> Midstream Company </span></p> </td> <td xmlns="http://www.w3.org/1999/xhtml" nowrap="nowrap" class="prngen6"> <p xmlns="http://www.w3.org/1999/xhtml" class="prnews_p"><span xmlns="http://www.w3.org/1999/xhtml" class="prnews_span">12.2%</span></p> </td> </tr> <tr xmlns="http://www.w3.org/1999/xhtml"> <td xmlns="http://www.w3.org/1999/xhtml" nowrap="nowrap" class="prngen4"> <p xmlns="http://www.w3.org/1999/xhtml" class="prnews_p"><span xmlns="http://www.w3.org/1999/xhtml" class="prnews_span">2</span></p> </td> <td xmlns="http://www.w3.org/1999/xhtml" class="prngen6"> <p xmlns="http://www.w3.org/1999/xhtml" class="prnews_p"><span xmlns="http://www.w3.org/1999/xhtml" class="prnews_span">WMB</span></p> </td> <td xmlns="http://www.w3.org/1999/xhtml" nowrap="nowrap" class="prngen5"> <p xmlns="http://www.w3.org/1999/xhtml" class="prnews_p"><span xmlns="http://www.w3.org/1999/xhtml" class="prnews_span">The Williams Companies, Inc.</span></p> </td> <td xmlns="http://www.w3.org/1999/xhtml" nowrap="nowrap" class="prngen6"> <p xmlns="http://www.w3.org/1999/xhtml" class="prnews_p"><span xmlns="http://www.w3.org/1999/xhtml" class="prnews_span"> United States </span></p> </td> <td xmlns="http://www.w3.org/1999/xhtml" nowrap="nowrap" class="prngen6"> <p xmlns="http://www.w3.org/1999/xhtml" class="prnews_p"><span xmlns="http://www.w3.org/1999/xhtml" class="prnews_span"> Midstream Company </span></p> </td> <td xmlns="http://www.w3.org/1999/xhtml" nowrap="nowrap" class="prngen6"> <p xmlns="http://www.w3.org/1999/xhtml" class="prnews_p"><span xmlns="http://www.w3.org/1999/xhtml" class="prnews_span">7.7%</span></p> </td> </tr> <tr xmlns="http://www.w3.org/1999/xhtml"> <td xmlns="http://www.w3.org/1999/xhtml" nowrap="nowrap" class="prngen4"> <p xmlns="http://www.w3.org/1999/xhtml" class="prnews_p"><span xmlns="http://www.w3.org/1999/xhtml" class="prnews_span">3</span></p> </td> <td xmlns="http://www.w3.org/1999/xhtml" class="prngen6"> <p xmlns="http://www.w3.org/1999/xhtml" class="prnews_p"><span xmlns="http://www.w3.org/1999/xhtml" class="prnews_span">ENB</span></p> </td> <td xmlns="http://www.w3.org/1999/xhtml" nowrap="nowrap" class="prngen5"> <p xmlns="http://www.w3.org/1999/xhtml" class="prnews_p"><span xmlns="http://www.w3.org/1999/xhtml" class="prnews_span">Enbridge, Inc.</span></p> </td> <td xmlns="http://www.w3.org/1999/xhtml" nowrap="nowrap" class="prngen6"> <p xmlns="http://www.w3.org/1999/xhtml" class="prnews_p"><span xmlns="http://www.w3.org/1999/xhtml" class="prnews_span"> Canada </span></p> </td> <td xmlns="http://www.w3.org/1999/xhtml" nowrap="nowrap" class="prngen6"> <p xmlns="http://www.w3.org/1999/xhtml" class="prnews_p"><span xmlns="http://www.w3.org/1999/xhtml" class="prnews_span"> Midstream Company </span></p> </td> <td xmlns="http://www.w3.org/1999/xhtml" nowrap="nowrap" class="prngen6"> <p xmlns="http://www.w3.org/1999/xhtml" class="prnews_p"><span xmlns="http://www.w3.org/1999/xhtml" class="prnews_span">7.4%</span></p> </td> </tr> <tr xmlns="http://www.w3.org/1999/xhtml"> <td xmlns="http://www.w3.org/1999/xhtml" nowrap="nowrap" class="prngen4"> <p xmlns="http://www.w3.org/1999/xhtml" class="prnews_p"><span xmlns="http://www.w3.org/1999/xhtml" class="prnews_span">4</span></p> </td> <td xmlns="http://www.w3.org/1999/xhtml" class="prngen6"> <p xmlns="http://www.w3.org/1999/xhtml" class="prnews_p"><span xmlns="http://www.w3.org/1999/xhtml" class="prnews_span">EPD</span></p> </td> <td xmlns="http://www.w3.org/1999/xhtml" nowrap="nowrap" class="prngen5"> <p xmlns="http://www.w3.org/1999/xhtml" class="prnews_p"><span xmlns="http://www.w3.org/1999/xhtml" class="prnews_span">Enterprise Products Partners LP</span></p> </td> <td xmlns="http://www.w3.org/1999/xhtml" nowrap="nowrap" class="prngen6"> <p xmlns="http://www.w3.org/1999/xhtml" class="prnews_p"><span xmlns="http://www.w3.org/1999/xhtml" class="prnews_span"> United States </span></p> </td> <td xmlns="http://www.w3.org/1999/xhtml" nowrap="nowrap" class="prngen6"> <p xmlns="http://www.w3.org/1999/xhtml" class="prnews_p"><span xmlns="http://www.w3.org/1999/xhtml" class="prnews_span"> MLP </span></p> </td> <td xmlns="http://www.w3.org/1999/xhtml" nowrap="nowrap" class="prngen6"> <p xmlns="http://www.w3.org/1999/xhtml" class="prnews_p"><span xmlns="http://www.w3.org/1999/xhtml" class="prnews_span">5.9%</span></p> </td> </tr> <tr xmlns="http://www.w3.org/1999/xhtml"> <td xmlns="http://www.w3.org/1999/xhtml" nowrap="nowrap" class="prngen4"> <p xmlns="http://www.w3.org/1999/xhtml" class="prnews_p"><span xmlns="http://www.w3.org/1999/xhtml" class="prnews_span">5</span></p> </td> <td xmlns="http://www.w3.org/1999/xhtml" class="prngen6"> <p xmlns="http://www.w3.org/1999/xhtml" class="prnews_p"><span xmlns="http://www.w3.org/1999/xhtml" class="prnews_span">PAGP</span></p> </td> <td xmlns="http://www.w3.org/1999/xhtml" nowrap="nowrap" class="prngen5"> <p xmlns="http://www.w3.org/1999/xhtml" class="prnews_p"><span xmlns="http://www.w3.org/1999/xhtml" class="prnews_span">Plains GP Holdings LP</span></p> </td> <td xmlns="http://www.w3.org/1999/xhtml" nowrap="nowrap" class="prngen6"> <p xmlns="http://www.w3.org/1999/xhtml" class="prnews_p"><span xmlns="http://www.w3.org/1999/xhtml" class="prnews_span"> United States </span></p> </td> <td xmlns="http://www.w3.org/1999/xhtml" nowrap="nowrap" class="prngen6"> <p xmlns="http://www.w3.org/1999/xhtml" class="prnews_p"><span xmlns="http://www.w3.org/1999/xhtml" class="prnews_span"> MLP Affiliate </span></p> </td> <td xmlns="http://www.w3.org/1999/xhtml" nowrap="nowrap" class="prngen6"> <p xmlns="http://www.w3.org/1999/xhtml" class="prnews_p"><span xmlns="http://www.w3.org/1999/xhtml" class="prnews_span">5.2%</span></p> </td> </tr> <tr xmlns="http://www.w3.org/1999/xhtml"> <td xmlns="http://www.w3.org/1999/xhtml" nowrap="nowrap" class="prngen4"> <p xmlns="http://www.w3.org/1999/xhtml" class="prnews_p"><span xmlns="http://www.w3.org/1999/xhtml" class="prnews_span">6</span></p> </td> <td xmlns="http://www.w3.org/1999/xhtml" class="prngen6"> <p xmlns="http://www.w3.org/1999/xhtml" class="prnews_p"><span xmlns="http://www.w3.org/1999/xhtml" class="prnews_span">ET</span></p> </td> <td xmlns="http://www.w3.org/1999/xhtml" nowrap="nowrap" class="prngen5"> <p ...</td></tr></table></div><p><a href=https://www.benzinga.com/pressreleases/20/06/n16185887/salient-midstream-mlp-fund-announces-unaudited-net-asset-value-as-of-may-31-2020 alt=Salient Midstream &amp; MLP Fund Announces Unaudited Net Asset Value As Of May 31, 2020>Full story available on Benzinga.com</a></p> Banking/Financial Services Earnings SMM Retail Sales Press Releases Thu, 04 Jun 2020 23:42:00 +0000 PRNewswire 16185887 at https://www.benzinga.com Uranium Participation Corporation Reports Estimated Net Asset Value, Uranium Sales, Uranium Loans and Share Purchases at May 31, 2020 https://www.benzinga.com/pressreleases/20/06/n16185700/uranium-participation-corporation-reports-estimated-net-asset-value-uranium-sales-uranium-loans-an <p xmlns="http://www.w3.org/1999/xhtml">TSX Trading symbol: U</p> <p xmlns="http://www.w3.org/1999/xhtml"><span xmlns="http://www.w3.org/1999/xhtml" class="xn-location">TORONTO</span>, <span xmlns="http://www.w3.org/1999/xhtml" class="xn-chron">June 4, 2020</span> /CNW/ - Uranium Participation Corporation (&#34;UPC&#34;) (TSX:<a class="ticker" href="https://www.benzinga.com/stock/U#TSX" rel="nofollow">U</a>) reports its estimated net asset value at May 31, 2020 was <span xmlns="http://www.w3.org/1999/xhtml" class="xn-money">CAD$819.9 million</span> or <span xmlns="http://www.w3.org/1999/xhtml" class="xn-money">CAD$6.00</span> per share. As at <span xmlns="http://www.w3.org/1999/xhtml" class="xn-chron">May 31, 2020</span>, UPC&#39;s uranium investment portfolio consisted of the following: <a xmlns="http://www.w3.org/1999/xhtml" target="_blank" href="https://c212.net/c/link/?t=0&amp;l=en&amp;o=2822387-1&amp;h=3716169781&amp;u=https%3A%2F%2Fmma.prnewswire.com%2Fmedia%2F1177049%2FUranium_Participation_Corporation_Uranium_Participation_Corporat.pdf&amp;a=View+PDF+version" rel="nofollow" rel="nofollow">View PDF version</a>.</p> <div xmlns="http://www.w3.org/1999/xhtml"> <table xmlns="http://www.w3.org/1999/xhtml" cellspacing="0" cellpadding="0" border="1" class="prntblns"> <tr xmlns="http://www.w3.org/1999/xhtml"> <td xmlns="http://www.w3.org/1999/xhtml" nowrap="nowrap" class="prnsbts prnsbr1 prnvab prnsbbs prntal prnpl6 prnsbl1 prnpr6"> <p xmlns="http://www.w3.org/1999/xhtml" class="prnews_p"><span xmlns="http://www.w3.org/1999/xhtml" class="prnews_span">(in thousands of Canadian dollars, except quantity amounts)</span></p> </td> <td xmlns="http://www.w3.org/1999/xhtml" colspan="3" class="prngen3"> <p xmlns="http://www.w3.org/1999/xhtml" class="prnews_p"> </p> <p xmlns="http://www.w3.org/1999/xhtml" class="prnews_p"><span xmlns="http://www.w3.org/1999/xhtml" class="prnews_span">Quantity</span></p> </td> <td xmlns="http://www.w3.org/1999/xhtml" colspan="2" nowrap="nowrap" class="prngen3"> <p xmlns="http://www.w3.org/1999/xhtml" class="prnews_p"><span xmlns="http://www.w3.org/1999/xhtml" class="prnews_span">Fair Value</span></p> </td> </tr> <tr xmlns="http://www.w3.org/1999/xhtml"> <td xmlns="http://www.w3.org/1999/xhtml" nowrap="nowrap" class="prngen4"> <p xmlns="http://www.w3.org/1999/xhtml" class="prnews_p"><span xmlns="http://www.w3.org/1999/xhtml" class="prnews_span"><b xmlns="http://www.w3.org/1999/xhtml">Investments in Uranium:</b></span></p> </td> <td xmlns="http://www.w3.org/1999/xhtml" colspan="3" class="prngen5"><br xmlns="http://www.w3.org/1999/xhtml" /></td> <td xmlns="http://www.w3.org/1999/xhtml" nowrap="nowrap" class="prngen5"><br xmlns="http://www.w3.org/1999/xhtml" /></td> <td xmlns="http://www.w3.org/1999/xhtml" class="prngen5"><br xmlns="http://www.w3.org/1999/xhtml" /></td> </tr> <tr xmlns="http://www.w3.org/1999/xhtml"> <td xmlns="http://www.w3.org/1999/xhtml" nowrap="nowrap" class="prngen4"> <p xmlns="http://www.w3.org/1999/xhtml" class="prnml10"><span xmlns="http://www.w3.org/1999/xhtml" class="prnews_span">Uranium oxide in concentrates (&#34;U<sub xmlns="http://www.w3.org/1999/xhtml">3</sub>O<sub xmlns="http://www.w3.org/1999/xhtml">8</sub>&#34;)</span></p> </td> <td xmlns="http://www.w3.org/1999/xhtml" colspan="3" class="prngen5"> <p xmlns="http://www.w3.org/1999/xhtml" class="prnews_p"><span xmlns="http://www.w3.org/1999/xhtml" class="prnews_span">  15,562,101   lbs</span></p> </td> <td xmlns="http://www.w3.org/1999/xhtml" nowrap="nowrap" class="prngen5"> <p xmlns="http://www.w3.org/1999/xhtml" class="prnews_p"><span xmlns="http://www.w3.org/1999/xhtml" class="prnews_span">$</span></p> </td> <td xmlns="http://www.w3.org/1999/xhtml" class="prngen5"> <p xmlns="http://www.w3.org/1999/xhtml" class="prnews_p"><span xmlns="http://www.w3.org/1999/xhtml" class="prnews_span">729,486</span></p> </td> </tr> <tr xmlns="http://www.w3.org/1999/xhtml"> <td xmlns="http://www.w3.org/1999/xhtml" nowrap="nowrap" class="prngen4"> <p xmlns="http://www.w3.org/1999/xhtml" class="prnml10"><span xmlns="http://www.w3.org/1999/xhtml" class="prnews_span">Uranium hexafluoride (&#34;UF<sub xmlns="http://www.w3.org/1999/xhtml">6</sub>&#34;)</span></p> </td> <td xmlns="http://www.w3.org/1999/xhtml" colspan="3" class="prngen5"> <p xmlns="http://www.w3.org/1999/xhtml" class="prnews_p"><span xmlns="http://www.w3.org/1999/xhtml" class="prnews_span">600,000 KgU</span></p> </td> <td xmlns="http://www.w3.org/1999/xhtml" nowrap="nowrap" class="prngen5"> <p xmlns="http://www.w3.org/1999/xhtml" class="prnews_p"><span xmlns="http://www.w3.org/1999/xhtml" class="prnews_span">$</span></p> </td> <td xmlns="http://www.w3.org/1999/xhtml" class="prngen5"> <p xmlns="http://www.w3.org/1999/xhtml" class="prnews_p"><span xmlns="http://www.w3.org/1999/xhtml" class="prnews_span">84,790</span></p> </td> </tr> <tr xmlns="http://www.w3.org/1999/xhtml"> <td xmlns="http://www.w3.org/1999/xhtml" nowrap="nowrap" class="prngen6"><br xmlns="http://www.w3.org/1999/xhtml" /></td> <td xmlns="http://www.w3.org/1999/xhtml" colspan="3" class="prngen6"><br xmlns="http://www.w3.org/1999/xhtml" /></td> <td xmlns="http://www.w3.org/1999/xhtml" nowrap="nowrap" class="prngen6"> <p xmlns="http://www.w3.org/1999/xhtml" class="prnews_p"><span xmlns="http://www.w3.org/1999/xhtml" class="prnews_span">$</span></p> </td> <td xmlns="http://www.w3.org/1999/xhtml" class="prngen6"> <p xmlns="http://www.w3.org/1999/xhtml" class="prnews_p"><span xmlns="http://www.w3.org/1999/xhtml" class="prnews_span">814,276</span></p> </td> </tr> <tr xmlns="http://www.w3.org/1999/xhtml"> <td xmlns="http://www.w3.org/1999/xhtml" nowrap="nowrap" class="prngen4"> <p xmlns="http://www.w3.org/1999/xhtml" class="prnml10"><span xmlns="http://www.w3.org/1999/xhtml" class="prnews_span">U<sub xmlns="http://www.w3.org/1999/xhtml">3</sub>O<sub xmlns="http://www.w3.org/1999/xhtml">8</sub> fair value<sup xmlns="http://www.w3.org/1999/xhtml">1</sup> per pound:</span></p> </td> <td xmlns="http://www.w3.org/1999/xhtml" colspan="3" class="prngen5"><br xmlns="http://www.w3.org/1999/xhtml" /></td> <td xmlns="http://www.w3.org/1999/xhtml" nowrap="nowrap" class="prngen5"><br xmlns="http://www.w3.org/1999/xhtml" /></td> <td xmlns="http://www.w3.org/1999/xhtml" class="prngen5"><br xmlns="http://www.w3.org/1999/xhtml" /></td> </tr> <tr xmlns="http://www.w3.org/1999/xhtml"> <td xmlns="http://www.w3.org/1999/xhtml" nowrap="nowrap" class="prngen4"> <p xmlns="http://www.w3.org/1999/xhtml" class="prnml40"><span xmlns="http://www.w3.org/1999/xhtml" class="prnews_span">- In Canadian dollars<sup xmlns="http://www.w3.org/1999/xhtml">1</sup></span></p> </td> <td xmlns="http://www.w3.org/1999/xhtml" colspan="3" class="prngen5"><br xmlns="http://www.w3.org/1999/xhtml" /></td> <td xmlns="http://www.w3.org/1999/xhtml" nowrap="nowrap" class="prngen5"> <p xmlns="http://www.w3.org/1999/xhtml" class="prnews_p"><span xmlns="http://www.w3.org/1999/xhtml" class="prnews_span">$</span></p> </td> <td xmlns="http://www.w3.org/1999/xhtml" class="prngen5"> <p xmlns="http://www.w3.org/1999/xhtml" class="prnews_p"><span xmlns="http://www.w3.org/1999/xhtml" class="prnews_span">46.88</span></p> </td> </tr> <tr xmlns="http://www.w3.org/1999/xhtml"> <td xmlns="http://www.w3.org/1999/xhtml" nowrap="nowrap" class="prngen4"> <p xmlns="http://www.w3.org/1999/xhtml" class="prnml40"><span xmlns="http://www.w3.org/1999/xhtml" class="prnews_span">- In United States dollars</span></p> </td> <td xmlns="http://www.w3.org/1999/xhtml" colspan="3" class="prngen5"><br xmlns="http://www.w3.org/1999/xhtml" /></td> <td xmlns="http://www.w3.org/1999/xhtml" nowrap="nowrap" class="prngen5"> <p xmlns="http://www.w3.org/1999/xhtml" class="prnews_p"><span xmlns="http://www.w3.org/1999/xhtml" class="prnews_span">$</span></p> </td> <td xmlns="http://www.w3.org/1999/xhtml" class="prngen5"> <p xmlns="http://www.w3.org/1999/xhtml" class="prnews_p"><span xmlns="http://www.w3.org/1999/xhtml" class="prnews_span">34.00</span></p> </td> </tr> <tr xmlns="http://www.w3.org/1999/xhtml"> <td xmlns="http://www.w3.org/1999/xhtml" nowrap="nowrap" class="prngen4"> <p xmlns="http://www.w3.org/1999/xhtml" class="prnml10"><span xmlns="http://www.w3.org/1999/xhtml" class="prnews_span">UF<sub xmlns="http://www.w3.org/1999/xhtml">6</sub> fair value<sup xmlns="http://www.w3.org/1999/xhtml">1</sup> per KgU:</span></p> </td> <td xmlns="http://www.w3.org/1999/xhtml" colspan="3" class="prngen5"><br xmlns="http://www.w3.org/1999/xhtml" /></td> <td xmlns="http://www.w3.org/1999/xhtml" nowrap="nowrap" class="prngen5"><br xmlns="http://www.w3.org/1999/xhtml" /></td> <td xmlns="http://www.w3.org/1999/xhtml" class="prngen5"><br xmlns="http://www.w3.org/1999/xhtml" /></td> </tr> <tr xmlns="http://www.w3.org/1999/xhtml"> <td xmlns="http://www.w3.org/1999/xhtml" nowrap="nowrap" class="prngen4"> <p xmlns="http://www.w3.org/1999/xhtml" class="prnml40"><span xmlns="http://www.w3.org/1999/xhtml" class="prnews_span">- In Canadian dollars<sup xmlns="http://www.w3.org/1999/xhtml">1</sup></span></p> </td> <td xmlns="http://www.w3.org/1999/xhtml" colspan="3" class="prngen5"><br xmlns="http://www.w3.org/1999/xhtml" /></td> <td xmlns="http://www.w3.org/1999/xhtml" nowrap="nowrap" class="prngen5"> <p xmlns="http://www.w3.org/1999/xhtml" class="prnews_p"><span xmlns="http://www.w3.org/1999/xhtml" class="prnews_span">$</span></p> </td> <td xmlns="http://www.w3.org/1999/xhtml" class="prngen5"> <p xmlns="http://www.w3.org/1999/xhtml" class="prnews_p"><span xmlns="http://www.w3.org/1999/xhtml" class="prnews_span">141.32</span></p> </td> </tr> <tr xmlns="http://www.w3.org/1999/xhtml"> <td xmlns="http://www.w3.org/1999/xhtml" nowrap="nowrap" class="prnsbt1 prnsbr1 prnvab prnsbbs prntal prnpl6 prnsbl1 prnpr6"> <p xmlns="http://www.w3.org/1999/xhtml" class="prnml40"><span xmlns="http://www.w3.org/1999/xhtml" class="prnews_span">- In United States dollars</span></p> </td> <td xmlns="http://www.w3.org/1999/xhtml" colspan="3" class="prngen8"><br xmlns="http://www.w3.org/1999/xhtml" /></td> <td xmlns="http://www.w3.org/1999/xhtml" nowrap="nowrap" class="prngen8"> <p xmlns="http://www.w3.org/1999/xhtml" class="prnews_p"><span xmlns="http://www.w3.org/1999/xhtml" class="prnews_span">$</span></p> </td> <td xmlns="http://www.w3.org/1999/xhtml" class="prngen8"> <p xmlns="http://www.w3.org/1999/xhtml" class="prnews_p"><span xmlns="http://www.w3.org/1999/xhtml" class="prnews_span">102.50</span></p> </td> </tr> <tr xmlns="http://www.w3.org/1999/xhtml"> <td xmlns="http://www.w3.org/1999/xhtml" colspan="6" nowrap="nowrap" class="prngen5"><br xmlns="http://www.w3.org/1999/xhtml" /></td> </tr> <tr xmlns="http://www.w3.org/1999/xhtml"> <td xmlns="http://www.w3.org/1999/xhtml" colspan="6" nowrap="nowrap" class="prngen4"> <p xmlns="http://www.w3.org/1999/xhtml" class="prnews_p"><span xmlns="http://www.w3.org/1999/xhtml" class="prnews_span"><sup xmlns="http://www.w3.org/1999/xhtml">1</sup> Fair values are month-end spot prices published by Ux Consulting Company, LLC, translated at the Bank of <br xmlns="http://www.w3.org/1999/xhtml" />Canada&#39;s month-end daily exchange rate of $1.3787.</span></p> </td> </tr> </table> </div> <p xmlns="http://www.w3.org/1999/xhtml">On the last trading day of <span xmlns="http://www.w3.org/1999/xhtml" class="xn-chron">May 2020</span>, the common shares of UPC closed on the TSX at a value of <span xmlns="http://www.w3.org/1999/xhtml" class="xn-money">CAD$5.12</span>, which represents a 14.67% discount to the net ...</p><p><a href=https://www.benzinga.com/pressreleases/20/06/n16185700/uranium-participation-corporation-reports-estimated-net-asset-value-uranium-sales-uranium-loans-an alt=Uranium Participation Corporation Reports Estimated Net Asset Value, Uranium Sales, Uranium Loans and Share Purchases at May 31, 2020>Full story available on Benzinga.com</a></p> TSX:U Retail Sales Press Releases Thu, 04 Jun 2020 22:43:00 +0000 PRNewswire 16185700 at https://www.benzinga.com Grupo Aeroportuario del Pacifico Reports Passenger Traffic Decrease of 90.7% for the Month of May https://www.benzinga.com/pressreleases/20/06/g16185473/grupo-aeroportuario-del-pacifico-reports-passenger-traffic-decrease-of-90-7-for-the-month-of-may <link type="text/css" rel="stylesheet" href="https://www.globenewswire.com/styles/gnw_nitf.css" /> <p align="justify">GUADALAJARA, Mexico, June 04, 2020 (GLOBE NEWSWIRE) -- Grupo Aeroportuario del Pacifico, S.A.B. de C.V., (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PAC#NYSE" rel="nofollow">PAC</a>, BMV:<a class="ticker" href="https://www.benzinga.com/stock/GAP#BMV" rel="nofollow">GAP</a>) ("the Company" or "GAP") announced preliminary terminal passenger traffic figures for the month of May 2020, compared to traffic figures for May 2019.<br /></p> <p align="justify">For May 2020, as a result of the effects of the COVID-19 pandemic, total terminal passengers at GAP&#039;s 14 airports decreased by 90.7%, compared to the same period of the previous year, in line with expectations. Domestic passenger traffic decreased by 88.3%, while international passenger traffic decreased by 94.4%.</p> <p align="justify">In terms of the operation of our airports in Mexico, the Mexican government continues its policy of not issuing any travel restrictions. However, quarantine levels remained high during the month of May, which resulted in a large volume of domestic and international flight cancellations. Quarantine measures were lifted on June 1, 2020, whereby essential economic activity will be allowed to return in phases. In Jamaica, incoming international flights were cancelled, with the exception of cargo transportation. These flight restrictions were lifted on May 31, 2020.</p> <p><strong>Domestic Terminal Passengers – 13 airports (in thousands):</strong></p> <table style="border-collapse: collapse; width:100%; border-collapse:collapse ;"> <tr> <td style="border-top: solid black 1pt ; border-right: solid black 1pt ; border-left: solid black 1pt ; text-align: center ; vertical-align: middle; "><strong>Airport</strong></td> <td style="border-top: solid black 1pt ; border-right: solid black 1pt ; text-align: center ; vertical-align: middle; "><strong>May-19</strong></td> <td style="border-top: solid black 1pt ; border-right: solid black 1pt ; text-align: center ; vertical-align: middle; "><strong>May-20</strong></td> <td colspan="2" style="border-top: solid black 1pt ; border-right: solid black 1pt ; text-align: center ; vertical-align: middle; "><strong>% Change</strong></td> <td style="border-top: solid black 1pt ; border-right: solid black 1pt ; text-align: center ; vertical-align: middle; "><strong>Jan-May 19</strong></td> <td style="border-top: solid black 1pt ; border-right: solid black 1pt ; text-align: center ; vertical-align: middle; "><strong>Jan-May 20</strong></td> <td colspan="2" style="border-top: solid black 1pt ; border-right: solid black 1pt ; text-align: center ; vertical-align: middle; "><strong>% Change</strong></td> </tr> <tr> <td style="max-width:32%; width:32%; min-width:32%;;border-right: solid black 1pt ; border-left: solid black 1pt ; ">Guadalajara</td> <td style="max-width:11%; width:11%; min-width:11%;;border-right: solid black 1pt ; text-align: right ; vertical-align: middle; vertical-align: bottom ; ">922.0</td> <td style="max-width:11%; width:11%; min-width:11%;;border-right: solid black 1pt ; text-align: right ; vertical-align: middle; vertical-align: bottom ; ">93.6</td> <td style="max-width:11%; width:11%; min-width:11%;;padding-right: 0 ; text-align: right ; vertical-align: middle; vertical-align: bottom ; ">-89.8</td> <td style="max-width:1%; width:1%; min-width:1%;;border-right: solid black 1pt ; padding-left: 0 ; text-align: left ; vertical-align: middle; vertical-align: bottom ; ">%</td> <td style="max-width:11%; width:11%; min-width:11%;;border-right: solid black 1pt ; text-align: right ; vertical-align: middle; vertical-align: bottom ; ">4,205.5</td> <td style="max-width:11%; width:11%; min-width:11%;;border-right: solid black 1pt ; text-align: right ; vertical-align: middle; vertical-align: bottom ; ">2,514.0</td> <td style="max-width:11%; width:11%; min-width:11%;;padding-right: 0 ; text-align: right ; vertical-align: middle; vertical-align: bottom ; ">-40.2</td> <td style="max-width:1%; width:1%; min-width:1%;;border-right: solid black 1pt ; padding-left: 0 ; text-align: left ; vertical-align: middle; vertical-align: bottom ; ">%</td> </tr> <tr> <td style="border-right: solid black 1pt ; border-left: solid black 1pt ; ">Tijuana*</td> <td style="border-right: solid black 1pt ; text-align: right ; vertical-align: middle; vertical-align: bottom ; ">528.5</td> <td style="border-right: solid black 1pt ; text-align: right ; vertical-align: middle; vertical-align: bottom ; ">107.9</td> <td style="padding-right: 0 ; text-align: right ; vertical-align: middle; vertical-align: bottom ; ">-79.6</td> <td style="border-right: solid black 1pt ; padding-left: 0 ; text-align: left ; vertical-align: middle; vertical-align: bottom ; ">%</td> <td style="border-right: solid black 1pt ; text-align: right ; vertical-align: middle; vertical-align: bottom ; ">2,397.0</td> <td style="border-right: solid black 1pt ; text-align: right ; vertical-align: middle; vertical-align: bottom ; ">1,636.8</td> <td style="padding-right: 0 ; text-align: right ; vertical-align: middle; vertical-align: bottom ; ">-31.7</td> <td style="border-right: solid black 1pt ; padding-left: 0 ; text-align: left ; vertical-align: middle; vertical-align: bottom ; ">%</td> </tr> <tr> <td style="border-right: solid black 1pt ; border-left: solid black 1pt ; ">Puerto Vallarta</td> <td style="border-right: solid black 1pt ; text-align: right ; vertical-align: middle; vertical-align: bottom ; ">157.8</td> <td style="border-right: solid black 1pt ; text-align: right ; vertical-align: middle; vertical-align: bottom ; ">6.8</td> <td style="padding-right: 0 ; text-align: right ; vertical-align: middle; vertical-align: bottom ; ">-95.7</td> <td style="border-right: solid black 1pt ; padding-left: 0 ; text-align: left ; vertical-align: middle; vertical-align: bottom ; ">%</td> <td style="border-right: solid black 1pt ; text-align: right ; vertical-align: middle; vertical-align: bottom ; ">660.6</td> <td style="border-right: solid black 1pt ; text-align: right ; vertical-align: middle; vertical-align: bottom ; ">380.9</td> <td style="padding-right: 0 ; text-align: right ; vertical-align: middle; vertical-align: bottom ; ">-42.3</td> <td style="border-right: solid black 1pt ; padding-left: 0 ; text-align: left ; vertical-align: middle; vertical-align: bottom ; ">%</td> </tr> <tr> <td style="border-right: solid black 1pt ; border-left: solid black 1pt ; ">Los Cabos</td> <td style="border-right: solid black 1pt ; text-align: right ; vertical-align: middle; vertical-align: bottom ; ">160.8</td> <td style="border-right: solid black 1pt ; text-align: right ; vertical-align: middle; vertical-align: bottom ; ">17.7</td> <td style="padding-right: 0 ; text-align: right ; vertical-align: middle; vertical-align: bottom ; ">-89.0</td> <td style="border-right: solid black 1pt ; padding-left: 0 ; text-align: left ; vertical-align: middle; vertical-align: bottom ; ">%</td> <td style="border-right: solid black 1pt ; text-align: right ; vertical-align: middle; vertical-align: bottom ; ">717.5</td> <td style="border-right: solid black 1pt ; text-align: right ; vertical-align: middle; vertical-align: bottom ; ">442.5</td> <td style="padding-right: 0 ; text-align: right ; vertical-align: middle; vertical-align: bottom ; ">-38.3</td> <td style="border-right: solid black 1pt ; padding-left: 0 ; text-align: left ; vertical-align: middle; vertical-align: bottom ; ">%</td> </tr> <tr> <td style="border-right: solid black 1pt ; border-left: solid black 1pt ; ">Montego Bay</td> <td style="border-right: solid black 1pt ; text-align: right ; vertical-align: middle; vertical-align: bottom ; ">0.9</td> <td style="border-right: solid black 1pt ; text-align: right ; vertical-align: middle; vertical-align: bottom ; ">0.0</td> <td style="padding-right: 0 ; text-align: right ; vertical-align: middle; vertical-align: bottom ; ">-100.0</td> <td style="border-right: solid black 1pt ; padding-left: 0 ; text-align: left ; vertical-align: middle; vertical-align: bottom ; ">%</td> <td style="border-right: solid black 1pt ; text-align: right ; vertical-align: middle; vertical-align: bottom ; ">3.5</td> <td style="border-right: solid black 1pt ; text-align: right ; vertical-align: middle; vertical-align: bottom ; ">1.0</td> <td style="padding-right: 0 ; text-align: right ; vertical-align: middle; vertical-align: bottom ; ">-72.6</td> <td style="border-right: solid black 1pt ; padding-left: 0 ; text-align: left ; vertical-align: middle; vertical-align: bottom ; ">%</td> </tr> <tr> <td style="border-right: solid black 1pt ; border-left: solid black 1pt ; ">Guanajuato</td> <td style="border-right: solid black 1pt ; text-align: right ; vertical-align: middle; vertical-align: bottom ; ">185.6</td> <td style="border-right: solid black 1pt ; text-align: right ; vertical-align: middle; vertical-align: bottom ; ">11.2</td> <td style="padding-right: 0 ; text-align: right ; vertical-align: middle; vertical-align: bottom ; ">-94.0</td> <td style="border-right: solid black 1pt ; padding-left: 0 ; text-align: left ; vertical-align: middle; vertical-align: bottom ; ">%</td> <td style="border-right: solid black 1pt ; text-align: right ; vertical-align: middle; vertical-align: bottom ; ">818.0</td> <td style="border-right: solid black 1pt ; text-align: right ; vertical-align: middle; vertical-align: bottom ; ">446.6</td> <td style="padding-right: 0 ; text-align: right ; vertical-align: middle; vertical-align: bottom ; ">-45.4</td> <td style="border-right: solid black 1pt ; padding-left: 0 ; text-align: left ; vertical-align: middle; vertical-align: bottom ; ">%</td> </tr> <tr> <td style="border-right: solid black 1pt ; border-left: solid black 1pt ; ">Hermosillo</td> <td style="border-right: solid black 1pt ; text-align: right ; vertical-align: middle; vertical-align: bottom ; ">164.9</td> <td style="border-right: solid black 1pt ; text-align: right ; vertical-align: middle; vertical-align: bottom ; ">13.0</td> <td style="padding-right: 0 ; text-align: right ; vertical-align: middle; vertical-align: bottom ; ">-92.1</td> <td style="border-right: solid black 1pt ; padding-left: 0 ; text-align: left ; vertical-align: middle; vertical-align: bottom ; ">%</td> <td style="border-right: solid black 1pt ; text-align: right ; vertical-align: middle; vertical-align: bottom ; ">705.8</td> <td style="border-right: solid black 1pt ; text-align: right ; vertical-align: middle; vertical-align: bottom ; ">422.5</td> <td style="padding-right: 0 ; text-align: right ; vertical-align: middle; vertical-align: bottom ; ">-40.1</td> <td style="border-right: solid black 1pt ; padding-left: 0 ; text-align: left ; vertical-align: middle; vertical-align: bottom ; ">%</td> </tr> <tr> <td style="border-right: solid black 1pt ; border-left: solid black 1pt ; ">Mexicali</td> <td style="border-right: solid black 1pt ; text-align: right ; vertical-align: middle; vertical-align: bottom ; ">106.3</td> <td style="border-right: solid black 1pt ; text-align: right ; vertical-align: middle; vertical-align: bottom ; ">11.4</td> <td style="padding-right: 0 ; text-align: right ; vertical-align: middle; vertical-align: bottom ; ">-89.3</td> <td style="border-right: solid black 1pt ; padding-left: 0 ; text-align: left ; vertical-align: middle; vertical-align: bottom ; ">%</td> <td style="border-right: solid black 1pt ; text-align: right ; vertical-align: middle; vertical-align: bottom ; ">473.5</td> <td style="border-right: solid black 1pt ; text-align: right ; vertical-align: middle; vertical-align: bottom ; ">300.7</td> <td style="padding-right: 0 ; text-align: right ; vertical-align: middle; vertical-align: bottom ; ">-36.5</td> <td style="border-right: solid black 1pt ; padding-left: 0 ; text-align: left ; vertical-align: middle; vertical-align: bottom ; ">%</td> </tr> <tr> <td style="border-right: solid black 1pt ; border-left: solid black 1pt ; ">Morelia</td> <td style="border-right: solid black 1pt ; text-align: right ; vertical-align: middle; vertical-align: bottom ; ">39.2</td> <td style="border-right: solid black 1pt ; text-align: right ; vertical-align: middle; vertical-align: bottom ; ">12.1</td> <td style="padding-right: 0 ; text-align: right ; vertical-align: middle; vertical-align: bottom ; ">-69.0</td> <td style="border-right: solid black 1pt ; padding-left: 0 ; text-align: left ; vertical-align: middle; vertical-align: bottom ; ">%</td> <td style="border-right: solid black 1pt ; text-align: right ; vertical-align: middle; vertical-align: bottom ; ">185.8</td> <td style="border-right: solid black 1pt ; text-align: right ; vertical-align: middle; vertical-align: bottom ; ">145.7</td> <td style="padding-right: 0 ; text-align: right ; vertical-align: middle; vertical-align: bottom ; ">-21.6</td> <td style="border-right: solid black 1pt ; padding-left: 0 ; text-align: left ; vertical-align: middle; vertical-align: bottom ; ">%</td> </tr> <tr> <td style="border-right: solid black 1pt ; border-left: solid black 1pt ; ">La Paz</td> <td style="border-right: solid black 1pt ; text-align: right ; vertical-align: middle; vertical-align: bottom ; ">84.0</td> <td style="border-right: solid black 1pt ; text-align: right ; vertical-align: middle; vertical-align: bottom ; ">6.5</td> <td style="padding-right: 0 ; text-align: right ; vertical-align: middle; vertical-align: bottom ; ">-92.2</td> <td style="border-right: solid black 1pt ; padding-left: 0 ; text-align: left ; vertical-align: middle; vertical-align: bottom ; ">%</td> <td style="border-right: solid black 1pt ; text-align: right ; vertical-align: middle; vertical-align: bottom ; ">379.4</td> <td style="border-right: solid black 1pt ; text-align: right ; vertical-align: middle; vertical-align: bottom ; ">228.0</td> <td style="padding-right: 0 ; text-align: right ; vertical-align: middle; vertical-align: bottom ; ">-39.9</td> <td style="border-right: solid black 1pt ; padding-left: 0 ; text-align: left ; vertical-align: middle; vertical-align: bottom ; ">%</td> </tr> <tr> <td style="border-right: solid black 1pt ; border-left: solid black 1pt ; ">Aguascalientes</td> <td style="border-right: solid black 1pt ; text-align: right ; vertical-align: middle; vertical-align: bottom ; ">59.5</td> <td style="border-right: solid black 1pt ; text-align: right ; vertical-align: middle; vertical-align: bottom ; ">4.2</td> <td style="padding-right: 0 ; text-align: right ; vertical-align: middle; vertical-align: bottom ; ">-93.0</td> <td style="border-right: solid black 1pt ; padding-left: 0 ; text-align: left ; vertical-align: middle; vertical-align: bottom ; ">%</td> <td style="border-right: solid black 1pt ; text-align: right ; vertical-align: middle; vertical-align: bottom ; ">257.7</td> <td style="border-right: solid black 1pt ; text-align: right ; vertical-align: middle; vertical-align: bottom ; ">144.8</td> <td style="padding-right: 0 ; text-align: right ; vertical-align: middle; vertical-align: bottom ; ">-43.8</td> <td style="border-right: solid black 1pt ; padding-left: 0 ; text-align: left ; vertical-align: middle; vertical-align: bottom ; ">%</td> </tr> <tr> <td style="border-right: solid black 1pt ; border-left: solid black 1pt ; ">Los Mochis</td> <td style="border-right: solid black 1pt ; text-align: right ; vertical-align: middle; vertical-align: bottom ; ">33.8</td> <td style="border-right: solid black 1pt ; text-align: right ; vertical-align: middle; vertical-align: bottom ; ">2.1</td> <td style="padding-right: 0 ; text-align: right ; vertical-align: middle; vertical-align: bottom ; ">-93.7</td> <td style="border-right: solid black 1pt ; padding-left: 0 ; text-align: left ; vertical-align: middle; vertical-align: bottom ; ">%</td> <td style="border-right: solid black 1pt ; text-align: right ; vertical-align: middle; vertical-align: bottom ; ">155.4</td> <td style="border-right: solid black 1pt ; text-align: right ; vertical-align: middle; vertical-align: bottom ; ">92.7</td> <td style="padding-right: 0 ; text-align: right ; vertical-align: middle; vertical-align: bottom ; ">-40.4</td> <td style="border-right: solid black 1pt ; padding-left: 0 ; text-align: left ; vertical-align: middle; vertical-align: bottom ; ">%</td> </tr> <tr> <td style="border-right: solid black 1pt ; border-left: solid black 1pt ; ">Manzanillo</td> <td style="border-right: solid black 1pt ; text-align: right ; vertical-align: middle; vertical-align: bottom ; ">8.8</td> <td style="border-right: solid black 1pt ; text-align: right ; vertical-align: middle; vertical-align: bottom ; ">0.6</td> <td style="padding-right: 0 ; text-align: right ; vertical-align: middle; vertical-align: bottom ; ">-93.3</td> <td style="border-right: solid black 1pt ; padding-left: 0 ; text-align: left ; vertical-align: middle; vertical-align: bottom ; ">%</td> <td style="border-right: solid black 1pt ; text-align: right ; vertical-align: middle; vertical-align: bottom ; ">41.0</td> <td style="border-right: solid black 1pt ; text-align: right ; vertical-align: middle; vertical-align: bottom ; ">24.1</td> <td style="padding-right: 0 ; text-align: right ; vertical-align: middle; vertical-align: bottom ; ">-41.3</td> <td style="border-right: solid black 1pt ; padding-left: 0 ; text-align: left ; vertical-align: middle; vertical-align: bottom ; ">%</td> </tr> <tr> <td style="border-right: solid black 1pt ; border-bottom: solid black 1pt ; border-left: solid black 1pt ; text-align: center ; vertical-align: middle; "><strong>Total</strong></td> <td style="border-right: solid black 1pt ; border-bottom: solid black 1pt ; text-align: right ; vertical-align: middle; vertical-align: bottom ; "><strong>2,452.0</strong></td> <td style="border-right: solid black 1pt ; border-bottom: solid black 1pt ; text-align: right ; vertical-align: middle; vertical-align: bottom ; "><strong>287.2</strong></td> <td style="border-bottom: solid black 1pt ; padding-right: 0 ; text-align: right ; vertical-align: middle; vertical-align: bottom ; "><strong>-88.3</strong></td> <td style="border-right: solid black 1pt ; border-bottom: solid black 1pt ; padding-left: 0 ; text-align: left ; vertical-align: middle; vertical-align: bottom ; "><strong>%</strong></td> <td style="border-right: solid black 1pt ; border-bottom: solid black 1pt ; text-align: right ; vertical-align: middle; vertical-align: bottom ; "><strong>11,000.7</strong></td> <td style="border-right: solid black 1pt ; border-bottom: solid black 1pt ; text-align: right ; vertical-align: middle; vertical-align: bottom ; "><strong>6,780.1</strong></td> <td style="border-bottom: solid black 1pt ; padding-right: 0 ; text-align: right ; vertical-align: middle; vertical-align: bottom ; "><strong>-38.4</strong></td> <td style="border-right: solid black 1pt ; border-bottom: solid black 1pt ; padding-left: 0 ; text-align: left ; vertical-align: middle; vertical-align: bottom ; "><strong>%</strong></td> </tr> <tr> <td style="vertical-align: bottom ; "> </td> <td style="text-align: right ; vertical-align: middle; vertical-align: bottom ; "> </td> <td style="text-align: right ; vertical-align: middle; vertical-align: bottom ; "> </td> <td style="padding-right: 0 ; text-align: right ; vertical-align: middle; vertical-align: bottom ; "> </td> <td style="padding-left: 0 ; text-align: left ; vertical-align: middle; vertical-align: bottom ; "> </td> <td style="text-align: right ; vertical-align: middle; vertical-align: bottom ; "> </td> <td style="text-align: right ; vertical-align: middle; vertical-align: bottom ; "> </td> <td style="padding-right: 0 ; text-align: right ; vertical-align: middle; vertical-align: bottom ; "> </td> <td style="padding-left: 0 ; text-align: left ; vertical-align: middle; vertical-align: bottom ; "> </td> </tr> </table> <p><strong>International Terminal Passengers – 13 airports (in thousands):</strong><br /></p> <table style="border-collapse: collapse; width:100%; border-collapse:collapse ;"> <tr> <td style="border-top: solid black 1pt ; border-right: solid black 1pt ; border-left: solid black 1pt ; text-align: center ; vertical-align: middle; "><strong>Airport</strong></td> <td style="border-top: solid black 1pt ; border-right: solid black 1pt ; text-align: center ; vertical-align: middle; "><strong>May-19</strong></td> <td style="border-top: solid black 1pt ; border-right: solid black 1pt ; text-align: center ; vertical-align: middle; "><strong>May-20</strong></td> <td colspan="2" style="border-top: solid black 1pt ; border-right: solid black 1pt ; text-align: center ; vertical-align: middle; "><strong>% Change</strong></td> <td style="border-top: solid black 1pt ; border-right: solid black 1pt ; text-align: center ; vertical-align: middle; "><strong>Jan-May 19</strong></td> <td style="border-top: solid black 1pt ; border-right: solid black 1pt ; text-align: center ; vertical-align: middle; "><strong>Jan-May 20</strong></td> <td colspan="2" style="border-top: solid black 1pt ; border-right: solid black 1pt ; text-align: center ; vertical-align: middle; "><strong>% Change</strong></td> </tr> <tr> <td style="max-width:32%; width:32%; min-width:32%;;border-right: solid black 1pt ; border-left: solid black 1pt ; ">Guadalajara</td> <td style="max-width:11%; width:11%; min-width:11%;;border-right: solid black 1pt ; text-align: right ; vertical-align: middle; vertical-align: bottom ; ">368.3</td> <td style="max-width:11%; width:11%; min-width:11%;;border-right: solid black 1pt ; text-align: right ; vertical-align: middle; vertical-align: bottom ; ">30.7</td> <td style="max-width:11%; width:11%; min-width:11%;;padding-right: 0 ; text-align: right ; vertical-align: middle; vertical-align: bottom ; ">-91.7</td> <td style="max-width:1%; width:1%; min-width:1%;;border-right: solid black 1pt ; padding-left: 0 ; text-align: left ; vertical-align: middle; vertical-align: bottom ; ">%</td> <td style="max-width:11%; width:11%; min-width:11%;;border-right: solid black 1pt ; text-align: right ; vertical-align: middle; vertical-align: bottom ; ">1,696.0</td> <td style="max-width:11%; width:11%; min-width:11%;;border-right: solid black 1pt ; text-align: right ; vertical-align: middle; vertical-align: bottom ; ">1,017.4</td> <td style="max-width:11%; width:11%; min-width:11%;;padding-right: 0 ; text-align: right ; vertical-align: middle; vertical-align: bottom ; ">-40.0</td> <td style="max-width:1%; width:1%; min-width:1%;;border-right: solid black 1pt ; padding-left: 0 ; text-align: left ; vertical-align: middle; vertical-align: bottom ; ">%</td> </tr> <tr> <td style="border-right: solid black 1pt ; border-left: solid black 1pt ; ">Tijuana*</td> <td style="border-right: solid black 1pt ; text-align: right ; vertical-align: middle; vertical-align: bottom ; ">237.1</td> <td style="border-right: solid black 1pt ; text-align: right ; vertical-align: middle; vertical-align: bottom ; ">36.6</td> <td style="padding-right: ...</tr></table><p><a href=https://www.benzinga.com/pressreleases/20/06/g16185473/grupo-aeroportuario-del-pacifico-reports-passenger-traffic-decrease-of-90-7-for-the-month-of-may alt=Grupo Aeroportuario del Pacifico Reports Passenger Traffic Decrease of 90.7% for the Month of May>Full story available on Benzinga.com</a></p> BMV:GAP PAC Retail Sales Press Releases Thu, 04 Jun 2020 21:44:54 +0000 Globe Newswire 16185473 at https://www.benzinga.com Valvoline Provides Mid-Quarter Business Update https://www.benzinga.com/pressreleases/20/06/n16185207/valvoline-provides-mid-quarter-business-update <p xmlns="http://www.w3.org/1999/xhtml"><span xmlns="http://www.w3.org/1999/xhtml" class="xn-location">LEXINGTON, Ky.</span>, <span xmlns="http://www.w3.org/1999/xhtml" class="xn-chron">June 4, 2020</span> /PRNewswire/ -- Valvoline Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VVV#NYSE" rel="nofollow">VVV</a>), a leading worldwide supplier of premium branded lubricants and automotive services, today provided a business update to give continued visibility into its performance during the COVID-19 crisis, including topline financial results through <span xmlns="http://www.w3.org/1999/xhtml" class="xn-chron">May 2020</span>. </p> <div xmlns="http://www.w3.org/1999/xhtml" class="PRN_ImbeddedAssetReference" id="DivAssetPlaceHolder1"> <p xmlns="http://www.w3.org/1999/xhtml"> <a xmlns="http://www.w3.org/1999/xhtml" href="https://mma.prnewswire.com/media/481359/Valvoline_Logo.html" target="_blank" rel="nofollow" rel="nofollow"><br /> <img xmlns="http://www.w3.org/1999/xhtml" src="https://mma.prnewswire.com/media/481359/Valvoline_Logo.jpg" title="(PRNewsfoto/Valvoline Inc.)" alt="(PRNewsfoto/Valvoline Inc.)" /><br /> </a> </p> </div> <p xmlns="http://www.w3.org/1999/xhtml">Preliminary <span xmlns="http://www.w3.org/1999/xhtml" class="xn-chron">May 2020</span> results are expected to include the following:</p> <ul xmlns="http://www.w3.org/1999/xhtml" type="disc"> <li xmlns="http://www.w3.org/1999/xhtml">Significant sequential improvement in May versus April </li> <ul xmlns="http://www.w3.org/1999/xhtml" type="circle"> <li xmlns="http://www.w3.org/1999/xhtml">Sales increases of 38% </li> <li xmlns="http://www.w3.org/1999/xhtml">Lubricant volume increases of 33% </li> <li xmlns="http://www.w3.org/1999/xhtml">Sequential sales and volume improvements across all segments</li> </ul> <li xmlns="http://www.w3.org/1999/xhtml">Quick Lubes&#39; system-wide same-store sales (SSS) improved each week in May </li> <ul xmlns="http://www.w3.org/1999/xhtml" type="circle"> <li xmlns="http://www.w3.org/1999/xhtml">System-wide SSS declines of 5.6% for May compared to the prior-year period </li> <li xmlns="http://www.w3.org/1999/xhtml">System-wide SSS for last week of May were flat </li> <li xmlns="http://www.w3.org/1999/xhtml">SSS for company-owned stores for last week of May were positive 2.4%</li> </ul> <li xmlns="http://www.w3.org/1999/xhtml">Total liquidity of nearly <span xmlns="http://www.w3.org/1999/xhtml" class="xn-money">$1.3 billion</span> as of <span xmlns="http://www.w3.org/1999/xhtml" class="xn-chron">May 31, 2020</span> </li> <ul xmlns="http://www.w3.org/1999/xhtml" type="circle"> <li xmlns="http://www.w3.org/1999/xhtml">Reflects an increase of approximately <span xmlns="http://www.w3.org/1999/xhtml" class="xn-money">$400 million</span> since <span xmlns="http://www.w3.org/1999/xhtml" class="xn-chron">April 30</span> </li> <li xmlns="http://www.w3.org/1999/xhtml">Reflects repayment of revolving credit facility borrowings using net proceeds of <span xmlns="http://www.w3.org/1999/xhtml" class="xn-money">$400 million</span> bond offering in <span xmlns="http://www.w3.org/1999/xhtml" class="xn-chron">May 2020</span> and cash and cash equivalents on-hand</li> </ul> </ul> <p xmlns="http://www.w3.org/1999/xhtml">Quick Lubes&#39; weekly system wide SSS improved each week for the past nine straight weeks, ending the last week of May flat to the prior year period. May weekly shipments in Core North America progressed to pre-COVID-19 levels. In the International segment, volume in <span xmlns="http://www.w3.org/1999/xhtml" class="xn-location">China</span> is beginning to stabilize at pre-COVID-19 trends while other regions are beginning to recover. </p> <p xmlns="http://www.w3.org/1999/xhtml">&#34;I&#39;m proud of the way that we&#39;ve weathered the most difficult phase of the COVID-19 crisis to date, and recent results indicate that we are firmly on the road to recovery,&#34; said <span xmlns="http://www.w3.org/1999/xhtml" class="xn-person">Sam Mitchell</span>, CEO. &#34;As we communicated during our Q2 earnings call, we have a strong and resilient business model and are seeing improving trends across our segments as miles driven rebounds. </p> <p xmlns="http://www.w3.org/1999/xhtml">&#34;I&#39;m very encouraged by the rapid recovery in our Quick Lubes segment driven by outstanding in-store execution of our stay-in-your-car customer service experience. Looking forward, we are optimistic about continued improvements as we restore our marketing and advertising spending.&#34;</p> <p xmlns="http://www.w3.org/1999/xhtml"><b xmlns="http://www.w3.org/1999/xhtml">Supplemental Materials</b></p> <p xmlns="http://www.w3.org/1999/xhtml">Supplemental materials that contain additional information about the Company&#39;s financial results for <span xmlns="http://www.w3.org/1999/xhtml" class="xn-chron">May 2020</span> were furnished to the SEC on a Form 8-K and are available on the Company&#39;s investor ...</p><p><a href=https://www.benzinga.com/pressreleases/20/06/n16185207/valvoline-provides-mid-quarter-business-update alt=Valvoline Provides Mid-Quarter Business Update>Full story available on Benzinga.com</a></p> automotive chemical Earnings Transportation/Trucking/Railroad Trucking and Road Transportation VVV Commodities Retail Sales Press Releases Thu, 04 Jun 2020 21:15:00 +0000 PRNewswire 16185207 at https://www.benzinga.com Westport Fuel Systems Reports First Quarter 2020 Financial Results https://www.benzinga.com/pressreleases/20/06/g16185019/westport-fuel-systems-reports-first-quarter-2020-financial-results <link type="text/css" rel="stylesheet" href="https://www.globenewswire.com/styles/gnw_nitf.css" /> <p align="justify">VANCOUVER, British Columbia, June 04, 2020 (GLOBE NEWSWIRE) -- Westport Fuel Systems Inc. ("<strong>Westport Fuel Systems</strong>") (TSX:<a class="ticker" href="https://www.benzinga.com/stock/WPRT#TSX" rel="nofollow">WPRT</a>, NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WPRT#NASDAQ" rel="nofollow">WPRT</a>) reported financial results for the first quarter ended March 31, 2020 and provided an update on operations. All figures are in U.S. dollars unless otherwise stated.<br /></p> <p><strong>Key Results</strong></p> <ul type="disc"> <li style="text-align:justify;">Consolidated revenues for the quarter ended March 31, 2020 decreased by $6.0 million to $67.2 million, or 8% over the same period last year</li> <li style="text-align:justify;">Gross margin for the three months ended March 31, 2020 decreased by $12.9 million to $4.3 million, mainly due to a $10 million charge for a field service campaign for the replacement of a pressure release device recorded during the quarter. Not included in the charge is anticipated insurance recovery of 70% of these costs</li> <li style="text-align:justify;">Adjusted EBITDA decreased to negative $3.6 million for the quarter ended March 31, 2020. Excluding the warranty charge, Adjusted EBITDA would have been $6.4 million for the quarter</li> <li style="text-align:justify;">Successfully restarted majority of our operations following government directives</li> <li style="text-align:justify;">Bolstered short-term liquidity by $20 million through new borrowings, principal deferrals, cost reductions and capital expenditure deferrals to weather the economic impact of COVID-19 and continue funding our operations and investment plans. This includes approximately $4 million in wages subsidies expected in Q2 2020</li> </ul> <p align="justify"><em>"I&#039;m proud of the resilience and coordinated response of our global team to this unprecedented disruption of our business," </em>said David M. Johnson, Chief Executive Officer at Westport Fuel Systems. "<em>While</em> <em>we expect the financial impact of COVID-19 to be more acute in the second quarter, due to the business and operational interruptions we experienced, the safe and efficient restart of production signals the start of recovery.  Despite near-term uncertainty, macro trends and regulatory developments are proof points of persistent market fundamentals for our clean transportation solutions."</em></p> <p><strong>COVID-19 and Outlook</strong></p> <p align="justify">The emergence of COVID-19 is having an adverse impact on our business, including the disruption of production and end customer demand. The extent, duration and impact of COVID-19 and governmental and societal responses is uncertain. A significant portion of our production is from three facilities in Northern Italy, and sales from these facilities are primarily in western and eastern Europe. Our Brescia facility was closed from March 16, 2020 through May 4, 2020. This facility produces HPDI tank assemblies and light-duty Original Equipment Manufacturer (&#34;<strong>OEM</strong>&#34;) and hydrogen components. Our Cherasco and Albinea facilities were closed from March 22, 2020 through May 4, 2020. These facilities produce components and kits in the Independent Aftermarket ("<strong>IAM</strong>"), Delayed OEM ("<strong>DOEM</strong>"), electronics and OEM businesses.</p> <p align="justify">In response to COVID-19, we have implemented a number of austerity measures, including actions to reduce costs, such as salary and other compensation deferrals and reductions, and delaying non-critical projects and capital expenditures. We are working with our key lenders and previously announced $6.0 million in principal deferrals on our term loan with Export Development Canada (&#34;<strong>EDC</strong>&#34;). We expect to secure additional financing through government backed liquidity programs and we are also participating in government wage-subsidy and other support programs in the countries where we operate and expect the cumulative benefit of these programs to be approximately $4.0 million in the second quarter of 2020.</p> <p align="justify">At this time, customer demand for our products for the full year 2020 is difficult to estimate and will be highly dependent on the duration and severity of the COVID-19 pandemic and the post-pandemic market weakness.  Our consolidated sales in the first quarter of 2020 were impacted by COVID-19 and are expected to be materially impacted for the remainder of 2020, with the most significant impact to be realized in the second quarter of 2020.</p> <p align="justify">Our light-duty OEM and Delayed OEM businesses are dependent on new vehicle sales with gaseous fuel systems. Consumer confidence levels have deteriorated and are likely to remain at low levels despite the resumption of economic activity in many major vehicle markets.</p> <p align="justify">We believe that our heavy-duty business and our CWI business will be less impacted than our IAM and light-duty OEM business. Demand for essential goods remains and consumer delivery of these goods has increased, resulting in more stable demand for medium and heavy-duty trucks.</p> <p>The certification of the WWI HPDI engine through a multi-step, multi-party activity was delayed in the first quarter given the impact of COVID-19 in China. We anticipate certification within 2020.</p> <p><strong>Key 2020 Priorities</strong></p> <p align="justify">Despite the challenges of COVID-19 and strengthening our balance sheet, our key strategic priorities for 2020 remain:</p> <ol type="1"> <li style="text-align:justify;">The successful commercial launch of Westport HPDI 2.0™ in China to drive volume growth that enables cost reduction and margin improvement.</li> <li>Material and structural cost reductions to improve margin and cash flow.</li> <li>Secure new light-duty and heavy-duty OEM customers in key market geographies.</li> <li>Sustained growth and profitability of our light-duty business through the IAM and OEM channels.</li> </ol> <p><strong>1Q20 Financial Highlights</strong></p> <table style="border-collapse: collapse; margin-left:3pt; width:100%; border-collapse:collapse ;"> <tr> <td colspan="9" style="border-top: solid black 1pt ; border-left: solid black 1pt ; border-right: solid black 1pt ; vertical-align: bottom ; "><strong>CONSOLIDATED RESULTS</strong></td> </tr> <tr> <td style="border-top: solid black 1pt ; border-left: solid black 1pt ; vertical-align: bottom ; "> </td> <td colspan="6" style="border-top: solid black 1pt ; vertical-align: middle ; "> </td> <td colspan="2" style="border-top: solid black 1pt ; border-right: solid black 1pt ; text-align: center ; vertical-align: middle; vertical-align: bottom ; "><strong>Change</strong><strong><br /></strong></td> </tr> <tr> <td style="border-left: solid black 1pt ; text-align: left ; vertical-align: middle; vertical-align: middle ; ">($ in millions, except per share amounts)</td> <td colspan="3" style="text-align: center ; vertical-align: middle; vertical-align: middle ; "><strong>1Q20</strong></td> <td colspan="3" style="text-align: center ; vertical-align: middle; vertical-align: middle ; "><strong>1Q19</strong></td> <td colspan="2" style="border-right: solid black 1pt ; text-align: center ; vertical-align: middle; vertical-align: middle ; "><strong>Over / (Under)</strong></td> </tr> <tr> <td style="max-width:65%; width:65%; min-width:65%;;border-left: solid black 1pt ; vertical-align: bottom ; ">Revenues</td> <td style="max-width:1%; width:1%; min-width:1%;">$</td> <td style="max-width:10%; width:10%; min-width:10%;;text-align: right ; vertical-align: middle; ">67.2</td> <td style="max-width:1%; width:1%; min-width:1%;;vertical-align: top ; "> </td> <td style="max-width:1%; width:1%; min-width:1%;">$</td> <td style="max-width:10%; width:10%; min-width:10%;;text-align: right ; vertical-align: middle; ">73.2</td> <td style="max-width:1%; width:1%; min-width:1%;;vertical-align: top ; "> </td> <td style="max-width:10%; width:10%; min-width:10%;;text-align: right ; vertical-align: middle; ">(8</td> <td style="max-width:1%; width:1%; min-width:1%;;border-right: solid black 1pt ; text-align: left ; vertical-align: middle; padding-left: 0 ; ">)%</td> </tr> <tr> <td style="border-left: solid black 1pt ; vertical-align: bottom ; ">Gross Margin</td> <td colspan="2" style="text-align: right ; vertical-align: middle; ">4.3</td> <td style="vertical-align: top ; "> </td> <td colspan="2" style="text-align: right ; vertical-align: middle; ">17.2</td> <td style="vertical-align: top ; "> </td> <td style="text-align: right ; vertical-align: middle; ">(75</td> <td style="border-right: solid black 1pt ; text-align: left ; vertical-align: middle; padding-left: 0 ; ">)%</td> </tr> <tr> <td style="border-left: solid black 1pt ; vertical-align: bottom ; ">Gross Margin %</td> <td colspan="2" style="text-align: right ; vertical-align: middle; ">6</td> <td style="text-align: left ; vertical-align: middle; padding-left: 0 ; ">%</td> <td colspan="2" style="text-align: right ; vertical-align: middle; ">23</td> <td style="text-align: left ; vertical-align: middle; padding-left: 0 ; ">%</td> <td style="text-align: right ; vertical-align: middle; ">—</td> <td style="border-right: solid black 1pt ; text-align: left ; vertical-align: middle; padding-left: 0 ; vertical-align: top ; "> </td> </tr> <tr> <td style="border-left: solid black 1pt ; vertical-align: bottom ; ">Operating Expenses</td> <td colspan="2" style="text-align: right ; vertical-align: middle; ">24.1</td> <td style="vertical-align: top ; "> </td> <td colspan="2" style="text-align: right ; vertical-align: middle; ">25.9</td> <td style="text-align: left ; vertical-align: middle; padding-left: 0 ; vertical-align: top ; "> </td> <td style="text-align: right ; vertical-align: middle; ">(7</td> <td style="border-right: solid black 1pt ; text-align: left ; vertical-align: middle; padding-left: 0 ; ">)%</td> </tr> <tr> <td style="border-left: solid black 1pt ; vertical-align: bottom ; ">Income from Unconsolidated Joint Ventures</td> <td colspan="2" style="text-align: right ; vertical-align: middle; ">5.4</td> <td style="vertical-align: top ; "> </td> <td colspan="2" style="text-align: right ; vertical-align: middle; ">8.7</td> <td style="text-align: left ; vertical-align: middle; padding-left: 0 ; vertical-align: top ; "> </td> <td style="text-align: right ; vertical-align: middle; ">(38</td> <td style="border-right: solid black 1pt ; text-align: left ; vertical-align: middle; padding-left: 0 ; ">)%</td> </tr> <tr> <td style="border-left: solid black 1pt ; vertical-align: bottom ; ">Net Loss</td> <td>$</td> <td style="text-align: right ; vertical-align: middle; ">(15.3</td> <td style="text-align: left ; vertical-align: middle; padding-left: 0 ; ">)</td> <td>$</td> <td style="text-align: right ; vertical-align: middle; ">(3.0</td> <td style="text-align: left ; vertical-align: middle; padding-left: 0 ; ">)</td> <td style="text-align: right ; vertical-align: middle; ">(403</td> <td style="border-right: solid black 1pt ; text-align: left ; vertical-align: middle; padding-left: 0 ; ">)%</td> </tr> <tr> <td style="border-left: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: bottom ; ">Net Loss per Share</td> <td style="border-bottom: solid black 1pt ; ">$</td> <td style="text-align: right ; vertical-align: middle; border-bottom: solid black 1pt ; ">(0.11</td> <td style="text-align: left ; vertical-align: middle; padding-left: 0 ; border-bottom: solid black 1pt ; ">)</td> <td style="border-bottom: solid black 1pt ; ">$</td> <td style="text-align: right ; vertical-align: middle; border-bottom: solid black 1pt ; ">(0.02</td> <td style="text-align: left ; vertical-align: middle; padding-left: 0 ; border-bottom: solid black 1pt ; ">)</td> <td style="text-align: right ; vertical-align: middle; border-bottom: solid black 1pt ; ">(450</td> <td style="border-right: solid black 1pt ; text-align: left ; vertical-align: middle; padding-left: 0 ; border-bottom: solid black 1pt ; ">)%</td> </tr> <tr> <td style="border-left: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: bottom ; ">EBITDA <sup>(1)</sup></td> <td style="border-bottom: solid black 1pt ; ">$</td> <td style="text-align: right ; vertical-align: middle; border-bottom: solid black 1pt ; ">(11.1</td> <td style="text-align: left ; vertical-align: middle; padding-left: 0 ; border-bottom: solid black 1pt ; ">)</td> <td style="border-bottom: solid black 1pt ; ">$</td> <td style="text-align: right ; vertical-align: middle; border-bottom: solid black 1pt ; ">4.2</td> <td style="text-align: left ; vertical-align: middle; padding-left: 0 ; border-bottom: solid black 1pt ; vertical-align: top ; "> </td> <td style="text-align: right ; vertical-align: middle; border-bottom: solid black 1pt ; ">(364</td> <td style="border-right: solid black 1pt ; text-align: left ; vertical-align: middle; padding-left: 0 ; border-bottom: solid black 1pt ; ">)%</td> </tr> <tr> <td style="border-left: solid black 1pt ; border-bottom: double 15px 3pt ; vertical-align: bottom ; ">Adjusted EBITDA <sup>(1)</sup></td> <td style="border-bottom: double 15px 3pt ; ">$</td> <td style="text-align: right ; vertical-align: middle; border-bottom: double 15px 3pt ; ">(3.6</td> <td style="text-align: left ; vertical-align: middle; padding-left: 0 ; border-bottom: double 15px 3pt ; ">)</td> <td style="border-bottom: double 15px 3pt ; ">$</td> <td style="text-align: right ; vertical-align: middle; border-bottom: double 15px 3pt ; ">7.3</td> <td style="text-align: left ; vertical-align: middle; padding-left: 0 ; border-bottom: double 15px 3pt ; vertical-align: top ; "> </td> <td style="text-align: right ; vertical-align: middle; border-bottom: double 15px 3pt ; ">(149</td> <td style="border-right: solid black 1pt ; text-align: left ; vertical-align: middle; padding-left: 0 ; border-bottom: double 15px 3pt ; ">)%</td> </tr> <tr> <td colspan="9" style="vertical-align: bottom ; "><em><sup>(1)</sup></em><em> EBITDA and Adjusted EBITDA are non-GAAP measures. Please refer to GAAP and NON-GAAP FINANCIAL MEASURES for the reconciliation.</em></td> </tr> </table> <ul type="disc"> <li style="text-align:justify;">Consolidated revenues for the quarter ended March 31, 2020 decreased by $6.0 million to $67.2 million, or 8% over the same period last year. OEM revenue for the three months ended March 31, 2020 was $34.2 million compared with $39.0 million for the three months ended March 31, 2019. Revenue from the OEM business segment decreased by $4.8 million mainly due to the COVID-19 related shutdowns, contractual price reductions to our HPDI launch partner and lower light-duty OEM sales to Russian and German OEMs. IAM revenue for the three months ended March 31, 2020 was $33.0 million compared with $34.2 million for same period last year and mitigated the impact of COVID-19 somewhat as some orders were pulled ahead from customers concerned with supply chain disruptions. Both segments are expected to have sequentially lower revenues in the second quarter of 2020.</li> <li style="text-align:justify;">Consolidated gross margin for the three months ended March 31, 2020 decreased by $12.9 million or 75% from $17.2 million in 2019 to $4.3 million for the comparative period in 2020. The gross margin recorded in the current quarter included a $10.0 million expense for a field service campaign for the replacement of a pressure release device sold to our light-duty OEM customers. We expect to recover a significant portion of this charge from insurance recovery during the second half of the year. Gross margin also decreased due to lower overall sales during the quarter and contractual HPDI price reductions.</li> <li style="text-align:justify;">Consolidated operating expenses for the quarter ended March 31, 2020 decreased by $1.8 million to $24.1 million, or 7%. Excluding foreign exchange losses, which are mostly unrealized, the decrease was $8.6 million. SG&amp;A expenses decreased by $5.8 million due to the resolution of the SEC investigation in 3Q19 (1Q 2019 legal expenses were $1.8 million), lower compensation costs and a favourable settlement of a legal claim. R&amp;D expenses decreased by $1.0 million due to completion of certain R&amp;D projects in 2019.</li> <li style="text-align:justify;">Income from the unconsolidated joint ventures for the quarter ended March 31, 2020 decreased by $3.3 million over the same period last year due to lower sales in CWI.</li> <li style="text-align:justify;">Consolidated net loss, EBITDA and Adjusted EBITDA for the three months ended March 31, 2020 were impacted by the $10.0 million warranty charge noted above. Excluding this charge, Adjusted EBITDA would have been $6.4 million for the quarter.</li> </ul> <p><strong>Segment Results</strong></p> <ul> <li style="text-align:justify;">Effective January 2020, we modified the reporting of our business segments to allow for increased transparency into our customer channels and the respective products we sold to those customers. Accordingly, from that date, all product information and other technology related activities previously reported under the Transportation segment have been disaggregated into two segments, OEM and IAM. The segment results from the three months ended March 31, 2020 and 2019 are presented below.</li> </ul> <table style="border-collapse: collapse; width:100%; border-collapse:collapse ;"> <tr> <td style="border-top: solid black 1pt ; border-bottom: solid black 1pt ; border-left: solid black 1pt ; vertical-align: bottom ; "><strong>SEGMENT RESULTS</strong></td> <td colspan="15" style="border-top: solid black 1pt ; border-right: solid black 1pt ; border-bottom: solid black 1pt ; text-align: center ; vertical-align: middle; vertical-align: bottom ; "><strong>Three Months Ended March 31, 2020</strong></td> </tr> <tr> <td style="max-width:41%; width:41%; min-width:41%;;border-left: solid black 1pt ; vertical-align: bottom ; "> </td> <td style="max-width:1%; width:1%; min-width:1%;"> </td> <td style="max-width:12%; width:12%; min-width:12%;;text-align: center ; vertical-align: middle; vertical-align: bottom ; "><strong>Revenue</strong></td> <td style="max-width:1%; width:1%; min-width:1%;;text-align: center ; vertical-align: middle; vertical-align: bottom ; "> </td> <td style="max-width:1%; width:1%; min-width:1%;;text-align: center ; vertical-align: middle; vertical-align: bottom ; "> </td> <td style="max-width:1%; width:1%; min-width:1%;;text-align: center ; vertical-align: middle; vertical-align: bottom ; "> </td> <td style="max-width:12%; width:12%; min-width:12%;;text-align: center ; vertical-align: middle; vertical-align: bottom ; "><strong>Operating<br />Income (Loss)</strong></td> <td style="max-width:1%; width:1%; min-width:1%;;text-align: center ; vertical-align: middle; vertical-align: bottom ; "> </td> <td style="max-width:1%; width:1%; min-width:1%;;text-align: center ; vertical-align: middle; vertical-align: bottom ; "> </td> <td style="max-width:1%; width:1%; min-width:1%;;text-align: center ; vertical-align: middle; vertical-align: bottom ; "> </td> <td style="max-width:12%; width:12%; min-width:12%;;text-align: center ; vertical-align: middle; vertical-align: bottom ; "><strong>Depreciation &amp;<br />Amortization</strong></td> <td style="max-width:1%; width:1%; min-width:1%;;text-align: center ; vertical-align: middle; vertical-align: bottom ; "> </td> <td style="max-width:1%; width:1%; min-width:1%;;text-align: center ; vertical-align: middle; vertical-align: bottom ; "> </td> <td style="max-width:1%; width:1%; min-width:1%;;text-align: center ; vertical-align: middle; vertical-align: bottom ; "> </td> <td ...</tr></table><p><a href=https://www.benzinga.com/pressreleases/20/06/g16185019/westport-fuel-systems-reports-first-quarter-2020-financial-results alt=Westport Fuel Systems Reports First Quarter 2020 Financial Results>Full story available on Benzinga.com</a></p> Earnings TSX:WPRT WPRT Retail Sales Press Releases Thu, 04 Jun 2020 21:00:10 +0000 Globe Newswire 16185019 at https://www.benzinga.com Ryder Launches "Ryder Relief Program" for Pre-Owned Commercial Vehicles https://www.benzinga.com/pressreleases/20/06/b16184582/ryder-launches-ryder-relief-program-for-pre-owned-commercial-vehicles <p xmlns="http://www.w3.org/1999/xhtml" class="bwalignc"> <i xmlns="http://www.w3.org/1999/xhtml">For the first time, customers can combine Ryder promotions for additional savings </i> </p> <p xmlns="http://www.w3.org/1999/xhtml"> Ryder System, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/R#NYSE" rel="nofollow">R</a>), a leader in <a xmlns="http://www.w3.org/1999/xhtml" rel="nofollow" href="https://cts.businesswire.com/ct/CT?id=smartlink&amp;url=http%3A%2F%2Fwww.ryder.com%2Fsolutions%2Fsupply-chain-optimization&amp;esheet=52230846&amp;newsitemid=20200604005687&amp;lan=en-US&amp;anchor=supply+chain&amp;index=1&amp;md5=742f24fe9a57e1fa906086637b772eef" shape="rect" rel="nofollow">supply chain</a>, <a xmlns="http://www.w3.org/1999/xhtml" rel="nofollow" href="https://cts.businesswire.com/ct/CT?id=smartlink&amp;url=https%3A%2F%2Fryder.com%2Fsolutions%2Fdedicated-transportation&amp;esheet=52230846&amp;newsitemid=20200604005687&amp;lan=en-US&amp;anchor=dedicated+transportation&amp;index=2&amp;md5=b8d894d0e943d4ccb4eaa240d0e05764" shape="rect" rel="nofollow">dedicated transportation</a>, and <a xmlns="http://www.w3.org/1999/xhtml" rel="nofollow" href="https://cts.businesswire.com/ct/CT?id=smartlink&amp;url=http%3A%2F%2Fwww.ryder.com%2Fsolutions%2Ffleet-leasing&amp;esheet=52230846&amp;newsitemid=20200604005687&amp;lan=en-US&amp;anchor=commercial+fleet+management&amp;index=3&amp;md5=137f8fc526187c7595a211e810547ee6" shape="rect" rel="nofollow">commercial fleet management</a> solutions, announces the "Ryder Relief Program," where for a limited time buyers can take advantage of two current pre-owned commercial vehicle sales promotions in the United States through June 30, 2020. The sales event, which allows customers to combine current truck financing and free contactless delivery offers, expands on Ryder&#039;s commitment to provide customers with the flexibility, choice, and control necessary for efficient fleet management. </p> <p xmlns="http://www.w3.org/1999/xhtml" id="news-body-cta">This press release features multimedia. View the full release here: <a xmlns="http://www.w3.org/1999/xhtml" href="https://www.businesswire.com/news/home/20200604005687/en/" rel="nofollow" rel="nofollow">https://www.businesswire.com/news/home/20200604005687/en/</a></p> <div xmlns="http://www.w3.org/1999/xhtml" id="bwbodyimg" style="width: 480px; float:left; padding-left:0px; padding-right:20px; padding-top:0px; padding-bottom:0px;"><img xmlns="http://www.w3.org/1999/xhtml" src="https://mms.businesswire.com/media/20200604005687/en/796100/4/Ryder2018_Day1_UVSFleet_005.jpg" alt="Ryder offers customers pre-owned vehicle inventory in three categories: Ryder Certified, Ryder Verified, and Ryder Reclassified for commercial vehicles, consisting of day cabs, sleepers, reefers, box trucks, sprinters, cargo vans, and trailers. (Photo: Business Wire)" /><br /> <p xmlns="http://www.w3.org/1999/xhtml" style="font-size:85%;">Ryder offers customers pre-owned vehicle inventory in three categories: Ryder Certified, Ryder Verified, and Ryder Reclassified for commercial vehicles, consisting of day cabs, sleepers, reefers, box trucks, sprinters, cargo vans, and trailers. (Photo: Business Wire)</p> </div> <p xmlns="http://www.w3.org/1999/xhtml"> "Ryder&#039;s main goal is to continuously enhance the customer experience by making it as seamless as possible to secure the best pre-owned commercial vehicle," said Eugene Tangney, vice president of global vehicle sales for Ryder. "With this program, qualified customers can now combine, for the first time ever, our preferred finance offers, ...</p><p><a href=https://www.benzinga.com/pressreleases/20/06/b16184582/ryder-launches-ryder-relief-program-for-pre-owned-commercial-vehicles alt=Ryder Launches &quot;Ryder Relief Program&quot; for Pre-Owned Commercial Vehicles>Full story available on Benzinga.com</a></p> R Retail Sales Press Releases Thu, 04 Jun 2020 20:30:00 +0000 Business Wire 16184582 at https://www.benzinga.com Apollo Tactical Income Fund Inc. Declares June 2020 Monthly Distribution of $0.072 Per Share https://www.benzinga.com/pressreleases/20/06/g16184344/apollo-tactical-income-fund-inc-declares-june-2020-monthly-distribution-of-0-072-per-share <link type="text/css" rel="stylesheet" href="https://www.globenewswire.com/styles/gnw_nitf.css" /> <p align="justify">NEW YORK, June 04, 2020 (GLOBE NEWSWIRE) -- (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AIF#NYSE" rel="nofollow">AIF</a>) - Apollo Tactical Income Fund Inc. (the "Fund") today announced the declaration of its distribution for the month of June 2020 of $0.072 per common share, payable on the date noted below.<br /></p> <p align="justify">The following dates apply to the declared distribution:</p> <p align="justify">Ex-Date: June 16, 2020<br />Record Date: June 17, 2020<br />Payment Date: June 30, 2020<br />Per Share Amount: $0.072</p> <p align="justify"><strong>Apollo Contact Information:</strong></p> <p align="justify"><em>Product Literature</em><br />877-864-4834</p> <p align="justify"><em>Investors</em><br />Gary M. Stein<br />Head of Investor Relations<br />Apollo Global Management, Inc.<br />212-822-0467<br />gstein@apollo.com</p> <p align="justify"><strong>Forward-Looking Statements<br ...</strong></p><p><a href=https://www.benzinga.com/pressreleases/20/06/g16184344/apollo-tactical-income-fund-inc-declares-june-2020-monthly-distribution-of-0-072-per-share alt=Apollo Tactical Income Fund Inc. Declares June 2020 Monthly Distribution of $0.072 Per Share>Full story available on Benzinga.com</a></p> AIF News Dividends Retail Sales Press Releases Thu, 04 Jun 2020 20:15:10 +0000 Globe Newswire 16184344 at https://www.benzinga.com Apollo Senior Floating Rate Fund Inc. Declares June 2020 Monthly Distribution of $0.066 Per Share https://www.benzinga.com/pressreleases/20/06/g16184342/apollo-senior-floating-rate-fund-inc-declares-june-2020-monthly-distribution-of-0-066-per-share <link type="text/css" rel="stylesheet" href="https://www.globenewswire.com/styles/gnw_nitf.css" /> <p align="justify">NEW YORK, June 04, 2020 (GLOBE NEWSWIRE) -- (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AFT#NYSE" rel="nofollow">AFT</a>) - Apollo Senior Floating Rate Fund Inc. (the "Fund") today announced the declaration of its distribution for the month of June 2020 of $0.066 per common share, payable on the date noted below.<br /></p> <p align="justify">The following dates apply to the declared distribution:</p> <p align="justify">Ex-Date: June 16, 2020<br />Record Date: June 17, 2020<br />Payment Date: June 30, 2020<br />Per Share Amount: $0.066</p> <p align="justify"><strong>Apollo Contact Information:</strong></p> <p align="justify"><em>Product Literature</em><br />877-864-4834</p> <p align="justify"><em>Investors</em><br />Gary M. Stein<br />Head of Investor Relations<br />Apollo Global Management, Inc.<br />212-822-0467<br ...</p><p><a href=https://www.benzinga.com/pressreleases/20/06/g16184342/apollo-senior-floating-rate-fund-inc-declares-june-2020-monthly-distribution-of-0-066-per-share alt=Apollo Senior Floating Rate Fund Inc. Declares June 2020 Monthly Distribution of $0.066 Per Share>Full story available on Benzinga.com</a></p> AFT News Dividends Retail Sales Press Releases Thu, 04 Jun 2020 20:15:10 +0000 Globe Newswire 16184342 at https://www.benzinga.com Gap Inc. Reports First Quarter Results https://www.benzinga.com/pressreleases/20/06/b16184326/gap-inc-reports-first-quarter-results <p xmlns="http://www.w3.org/1999/xhtml" class="bwalignc"> <i xmlns="http://www.w3.org/1999/xhtml">43% year-over-year sales decline driven by COVID-19 related store closures</i> </p> <p xmlns="http://www.w3.org/1999/xhtml" class="bwalignc"> <i xmlns="http://www.w3.org/1999/xhtml">First quarter online sales increased 13% year-over-year, with over 100% year-over-year online sales growth in the month of May </i> </p> <p xmlns="http://www.w3.org/1999/xhtml" class="bwalignc"> <i xmlns="http://www.w3.org/1999/xhtml">55% percent of North American company-operated fleet currently open with approximately 90% of fleet offering convenient omni-channel order fulfillment options</i> </p> <p xmlns="http://www.w3.org/1999/xhtml"> <a xmlns="http://www.w3.org/1999/xhtml" rel="nofollow" href="https://cts.businesswire.com/ct/CT?id=smartlink&amp;url=http%3A%2F%2Fwww.gapinc.com&amp;esheet=52230455&amp;newsitemid=20200604005723&amp;lan=en-US&amp;anchor=Gap+Inc.&amp;index=1&amp;md5=0cc69d05be75afe34c86610dabcabe94" shape="rect" rel="nofollow">Gap Inc.</a> (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GPS#NYSE" rel="nofollow">GPS</a>), the largest specialty apparel company and second largest apparel e-commerce business in the U.S., which operates a portfolio of lifestyle brands, including Old Navy, Gap, Athleta and Banana Republic, reported its financial results for the first quarter of fiscal year 2020, ending May 2. </p> <p xmlns="http://www.w3.org/1999/xhtml"> The Company&#039;s first quarter results were impacted by the temporary closure of approximately 90% of its global store fleet starting on March 19. During the quarter, the Company enacted several measures to strengthen its cash position, as well as secured additional financing early in the second quarter, putting the Company in a solid financial position to weather the pandemic. The Company also leveraged its omni capabilities to continue to serve customer demand online through its scaled e-commerce platform. </p> <p xmlns="http://www.w3.org/1999/xhtml"> "Our teams&#39; ability to pivot quickly and lean into our strong online business resulted in an encouraging 40% online sales growth in April. While net sales and stores sales continued to reflect material declines in May as a result of closures, we saw over 100% growth in online sales during the month," said Sonia Syngal, President and CEO of Gap Inc. "This online momentum, enabled by new omni-capabilities that have expanded the way customers can shop with us, leaves us well-positioned to fuel our brands going forward.&#34; </p> <p xmlns="http://www.w3.org/1999/xhtml"> Syngal added, "Today we have more than 1,500 stores open in North America, ahead of plan, and as stay at home restrictions ease in many markets, we expect to have the vast majority of our North American stores re-opened in June. We are optimistic that the actions we&#39;ve taken will provide a stable foundation as we navigate near-term uncertainty and refashion Gap Inc. for long-term growth." </p> <p xmlns="http://www.w3.org/1999/xhtml"> <b xmlns="http://www.w3.org/1999/xhtml">First Quarter 2020 Results</b> </p> <p xmlns="http://www.w3.org/1999/xhtml"> The Company noted first quarter results reflect the significant impacts of the global pandemic, including lost sales and corresponding merchandise margin from the temporary store closures, a non-cash impairment charge of $484 million related to the Company&#039;s store assets and operating lease assets, as well as a $235 million non-cash inventory impairment charge. </p> <p xmlns="http://www.w3.org/1999/xhtml"> The Company&#039;s first quarter fiscal year 2020 net sales were down 43% year-over-year, as solid momentum in the first 35 days of the quarter was more than offset by meaningful deceleration in demand after temporary store closures beginning in mid-March. In response, the Company continued to serve customer demand online through its scaled e-commerce platform, which at over $4 billion in net sales in fiscal year 2019, represented about one quarter of the Company&#039;s sales for that fiscal year. The Company&#039;s first quarter 2020 online sales channel increased 13% compared to the first quarter fiscal year 2019, with the Company noting continued acceleration of online growth following the end of the quarter. The Company&#039;s first quarter 2020 store sales decreased 61% compared to the first quarter fiscal 2019, driven by temporary store closures. </p> <p xmlns="http://www.w3.org/1999/xhtml"> Additionally, the Company is not providing comparable sales results for the quarter because the metric is not meaningful as a result of temporary store closures in the period. Instead, the Company has provided net sales which consists of store sales and online sales, by brand. Store sales primarily include sales made at Company-operated and franchise stores. Online sales primarily include sales made through the Company&#039;s online e-commerce channels, including ship-from-store sales, buy online pick-up in store sales, and order-in-store sales. First quarter net sales details appear in the tables at the end of this press release. </p> <p xmlns="http://www.w3.org/1999/xhtml"> Net sales by brand for the first quarter 2020 compared to the first quarter 2019 were as follows: </p> <ul xmlns="http://www.w3.org/1999/xhtml" class="bwlistdisc"> <li xmlns="http://www.w3.org/1999/xhtml"> <b xmlns="http://www.w3.org/1999/xhtml">Old Navy Global:</b> Net sales were down 42%; store sales were down 60% with online sales up 20%. Since the onset of the COVID-19 pandemic, Old Navy has seen a meaningful acceleration in its digital business. The Company noted it expects the off-mall, strip real estate that makes up approximately 75% of the fleet to be an advantage as customers return to stores and expects traffic in these locations to ramp up more quickly than other formats. </li> </ul> <ul xmlns="http://www.w3.org/1999/xhtml" class="bwlistdisc"> <li xmlns="http://www.w3.org/1999/xhtml"> <b xmlns="http://www.w3.org/1999/xhtml">Gap Global:</b> Net sales were down 50%; store sales were down 64% with online sales down 5%. Prior to the onset of the pandemic, Gap brand performance continued to be pressured by inconsistent execution of product and marketing messages. However, the Company noted the brand did experience steady improvements in its online performance throughout the quarter, attributable to the Company&#039;s strategy to migrate customers online as the brand&#039;s fleet rationalization efforts continue. </li> </ul> <ul xmlns="http://www.w3.org/1999/xhtml" class="bwlistdisc"> <li xmlns="http://www.w3.org/1999/xhtml"> <b xmlns="http://www.w3.org/1999/xhtml">Banana Republic Global:</b> Net sales were down 47%; store sales were down 61% with online sales down 2%. While the move to casual fashion during the stay-at-home requirements has benefited other brands in Gap Inc.&#039;s portfolio, this shift left Banana Republic disadvantaged in its product mix. As a result, Banana Republic is taking aggressive action to adjust to consumer preferences and improve inventory mix. </li> </ul> <ul xmlns="http://www.w3.org/1999/xhtml" class="bwlistdisc"> <li xmlns="http://www.w3.org/1999/xhtml"> <b xmlns="http://www.w3.org/1999/xhtml">Athleta: </b>Net sales were down 8%; store sales were down 50% with online sales up 49%. Customer response to Athleta was strong given the values-driven active and lifestyle space the brand participates in as well as the brand&#039;s deep customer engagement through its powerful omni-channel model. </li> </ul> <p xmlns="http://www.w3.org/1999/xhtml"> Gross margin was 12.7%, reflecting a $235 million non-cash inventory impairment charge, rent and occupancy deleverage associated with store closures, and increased promotional activity. As previously disclosed, beginning in April, the Company suspended rent payments for closed stores. While the Company remains in active and ongoing discussions with its landlords, it noted that first quarter gross margin reflects the cost of rent payments, which are being accrued for accounting purposes. </p> <p xmlns="http://www.w3.org/1999/xhtml"> Operating loss was $1.2 billion. This reflects the decline in gross margin, as well as a non-cash impairment charge of $484 million related to the Company&#039;s stores to reduce the carrying amount of the store assets and the corresponding operating lease assets to their fair values, which have dramatically declined as a result of the pandemic. The Company noted that as part of its ongoing specialty fleet optimization efforts, the Company has undertaken a strategic review of its real estate portfolio to further advance its long-term strategic priorities that include a smaller, healthier fleet, particularly as it relates to its Gap brand and Banana Republic specialty fleets. </p> <p xmlns="http://www.w3.org/1999/xhtml"> The effective tax rate was 26.0% for the first quarter of fiscal year 2020. The first quarter effective tax rate reflects benefits associated with the enactment of the Coronavirus Aid, Relief, and Economic Security (CARES) Act, offset by the impact of the Company&#039;s geographical mix of pre-tax earnings. </p> <p xmlns="http://www.w3.org/1999/xhtml"> Diluted loss per share was $2.51. </p> <p xmlns="http://www.w3.org/1999/xhtml"> <b xmlns="http://www.w3.org/1999/xhtml">Balance Sheet </b> </p> <p xmlns="http://www.w3.org/1999/xhtml"> The Company ended first quarter fiscal year 2020 with $2.2 billion in merchandise inventory, down about 1% year over year. Excluding Pack &amp; Hold Inventory that is being held for introduction into the marketplace in the summer of 2021 and will be included in the second quarter ending inventory balance, the Company expects second quarter ending inventory to be down low to mid-single digits. </p> <p xmlns="http://www.w3.org/1999/xhtml"> Short-term debt increased from $0 to $500 million, reflecting the Company&#039;s full drawdown of its revolving credit facility. Long-term debt remained unchanged at $1.25 billion. </p> <p xmlns="http://www.w3.org/1999/xhtml"> Early in the second quarter, the Company issued $2.250 billion of senior secured notes. A portion of the proceeds of the notes will be used to redeem the previously issued $1.250 billion unsecured notes due April 2021. The Company also repaid the outstanding $500 million borrowed under its prior revolving credit facility. In addition, the Company secured a $1.868 billion asset-based revolving credit facility that replaced its existing unsecured revolving credit facility. As of today&#039;s earnings release, the $1.868 billion has not been accessed and remains available for Company use. The Company currently believes this new capital structure provides sufficient liquidity to navigate the COVID-19 pandemic. </p> <p xmlns="http://www.w3.org/1999/xhtml"> The Company ended the quarter with 3,911 store locations in 42 countries, of which 3,313 were Company-operated. </p> <p xmlns="http://www.w3.org/1999/xhtml"> <b xmlns="http://www.w3.org/1999/xhtml">Cash Flow</b> </p> <p xmlns="http://www.w3.org/1999/xhtml"> The Company ended first quarter fiscal year 2020 with $1.1 billion in cash, cash equivalents, and short-term investments compared to $1.7 billion at the beginning of the quarter. Cash flow performance was impacted by the sales decline caused by the pandemic, partially offset by $500 million borrowed during the quarter under the Company&#039;s unsecured revolving credit facility. </p> <p xmlns="http://www.w3.org/1999/xhtml"> The Company&#039;s first quarter cash flow was negatively impacted by the temporary closure of its stores due to the COVID-19 pandemic, while still incurring the vast majority of its merchandise costs, store payroll and other operating expenses. Following North American store closures on March 19<sup xmlns="http://www.w3.org/1999/xhtml">th</sup>, the Company executed several measures to strengthen its cash position including realigning inventory purchases to expected demand, reducing expenses, suspending rent payments, extending payment terms, reducing headcount across its corporate functions, reducing capital expenditures, deferring its previously declared first quarter dividend, suspending its quarterly cash dividend and share repurchases for the remainder of the fiscal year and securing new financing arrangements. Following these actions, the Company believes it is in a solid financial position to navigate through the continuing crisis and continue investing in its business. </p> <p xmlns="http://www.w3.org/1999/xhtml"> Year-to-date free cash flow, defined as net cash from operating activities less purchases of property and equipment, was negative $1.1 billion compared with negative $136 million last year. Year-to-date capital expenditures were $122 million compared to $165 million last year. The variance in year-over-year free cash flow was due to the change in operating cash flow, caused by the sales decline as a result of the pandemic. </p> <p xmlns="http://www.w3.org/1999/xhtml"> As part of the Company&#039;s response to the COVID-19 pandemic, the Company plans to reduce its capital expenditures for the fiscal year by approximately 50%, and now expects capital spending to be approximately $300 million for fiscal year 2020, which includes about $30 million of expansion costs related to its Ohio distribution center. </p> <p xmlns="http://www.w3.org/1999/xhtml"> Please see the reconciliation of free cash flow, a non-GAAP financial measure, in the tables at the end of this press release. </p> <p xmlns="http://www.w3.org/1999/xhtml"> <b xmlns="http://www.w3.org/1999/xhtml">2020 Financial Outlook and Second Quarter Business Update</b> </p> <p xmlns="http://www.w3.org/1999/xhtml"> Beginning May 9, 2020 the Company started to reopen stores in select states and countries in accordance with official COVID-19 recommendations provided by the World Health Organization (WHO), Centers for Disease Control (CDC), Public Health Agency of Canada, and local government guidelines, as well as the Retail Industry Leaders Association (RILA) and in partnership with industry peers to implement a number of health and safety measures that will support its teams and customers with a safe and seamless shopping experience. </p> <p xmlns="http://www.w3.org/1999/xhtml"> "While we are pleased that store traffic and productivity is exceeding expectations, particularly at Old Navy and Athleta, we continue to plan conservatively as significant uncertainty remains ahead." said Katrina O&#039;Connell, EVP and CFO Gap Inc. "We intend to lean into our best-in-class supply chain and advantaged omni-channel capabilities to respond as customer demand becomes clearer." </p> <p xmlns="http://www.w3.org/1999/xhtml"> Given the high level of uncertainty in the current environment, the Company is not providing fiscal year net sales or earnings outlooks at this time. </p> <p xmlns="http://www.w3.org/1999/xhtml"> <b xmlns="http://www.w3.org/1999/xhtml">Webcast and Conference Call Information</b> </p> <p xmlns="http://www.w3.org/1999/xhtml"> Tina Romani, Senior Director of Investor Relations at Gap Inc., will host a summary of the Company&#039;s first quarter fiscal year 2020 results during a conference call and webcast from approximately 2:00 p.m. to 3:00 p.m. Pacific Time today. Ms. Romani will be joined by Sonia Syngal, Gap Inc. President and Chief Executive Officer, and Katrina O&#039;Connell, Gap Inc. Executive Vice President and Chief Financial Officer. </p> <p xmlns="http://www.w3.org/1999/xhtml"> The conference call can be accessed by calling 1-855-5000-GPS or 1-855-500-0477 (participant passcode: 1771676). International callers may dial 1-323-794-2078. The webcast can be accessed at the Investors section of <a xmlns="http://www.w3.org/1999/xhtml" rel="nofollow" href="https://cts.businesswire.com/ct/CT?id=smartlink&amp;url=http%3A%2F%2Fwww.gapinc.com&amp;esheet=52230455&amp;newsitemid=20200604005723&amp;lan=en-US&amp;anchor=www.gapinc.com&amp;index=2&amp;md5=bb9fdfc65a8887d1b97adb4799f04ea1" shape="rect" rel="nofollow">www.gapinc.com</a>. </p> <p xmlns="http://www.w3.org/1999/xhtml"> <b xmlns="http://www.w3.org/1999/xhtml">Forward-Looking Statements</b> </p> <p xmlns="http://www.w3.org/1999/xhtml"> This press release and related conference call and webcast contain forward-looking statements within the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. All statements other than those that are purely historical are forward-looking statements. Words such as "expect," "anticipate," "believe," "estimate," "intend," "plan," "project," and similar expressions also identify forward-looking statements. Forward-looking statements include statements regarding the following: impact of off-mall, strip real estate, including traffic; continued rationalization of our store fleet, including a smaller, healthier fleet, particularly as it relates to Gap brand and Banana Republic specialty fleets; inventory levels at the end of the second quarter and through the rest of fiscal year 2020; use of proceeds from the $2.250 billion senior secured notes; new capital structure providing sufficient liquidity to navigate the COVID-19 pandemic; capital expenditures for fiscal year 2020; the timing of store reopenings in North America; the expectation of outsized sales growth in our online channel; ongoing discussions and negotiations with our landlords, and impact of any resulting resolutions; renegotiating our existing leases while simultaneously executing store closure plans; maintaining inventory flexibility and responsiveness while navigating uncertain retail environment; the benefit of holding select Summer and Fall inventory until next year&#039;s selling season; considering new store openings, largely for Athleta and Old Navy; impact to gross margin from lower depreciation and amortization expense in fiscal year 2020 and on an annualized basis; net savings from corporate headquarters reductions in fiscal year 2020 and on an annualized basis; store operating costs; cash burn in the second quarter; benefits from capital and expense actions; sales trends through fiscal year 2020; impact of store reopenings on sales, operating leverage, and impairments, especially related to inventory; continued online growth; gross and operating margin trends through fiscal year 2020; fulfillment costs in the second quarter. </p> <p xmlns="http://www.w3.org/1999/xhtml"> Because these forward-looking statements involve risks and uncertainties, there are important factors that could cause the Company&#039;s actual results to differ materially from those in the forward-looking statements. These factors include, without limitation, the following risks, any of which could have an adverse effect on the Company&#039;s financial condition, results of operations, and reputation: the risk that additional information may arise during the Company&#039;s close process or as a result of subsequent events that would require the Company to make adjustments to its financial information; the overall global economic environment and risks associated with the COVID-19 pandemic; the risk that we or our franchisees will be unsuccessful in gauging apparel trends and changing consumer preferences; the highly competitive nature of our business in the United States and internationally; the risk that changes in global economic conditions or consumer spending patterns could adversely impact our results of operations; engaging in or seeking to engage in strategic transactions that are subject to various risks and uncertainties; the risk that failure to maintain, enhance and protect our brand image could have an adverse effect on our results of operations; the risk that the failure to manage key executive succession and retention and to continue to attract qualified personnel could have an adverse impact on our results of operations; the risk that our investments in customer, digital, and omni-channel shopping initiatives may not deliver the results we anticipate; the risk that if we are unable to manage our inventory effectively, our gross margins will be adversely affected; the risks to our business, including our costs and supply chain, associated with global sourcing and manufacturing; the risk that we are subject to data or other security breaches that may result in increased costs, violations of law, significant legal and financial exposure, and a loss of confidence in our security measures, which could have an adverse effect on our results of operations and our reputation; the risk that a failure of, or updates or changes to, our information technology systems may disrupt our operations; the risks to our efforts to expand internationally, including our ability to operate in regions where we have less experience; the risk that we or our franchisees will be unsuccessful in identifying, negotiating, and securing new store locations and renewing, modifying, or terminating leases for existing store locations effectively; the risks to our reputation or operations associated with importing merchandise from foreign countries, including failure of our vendors to adhere to our Code of Vendor Conduct; the risk that our franchisees&#039; operation of franchise stores is not directly within our control and could impair the value of our brands; the risk that trade matters could increase the cost or reduce the supply of apparel available to us and adversely affect our business, financial condition, and results of operations; the risk that foreign currency exchange rate fluctuations could adversely impact our financial results; the risk that comparable sales and margins will experience fluctuations; the risk that changes in our credit profile or deterioration in market conditions may limit our access to the capital markets and adversely impact our financial position or our business initiatives; the risk that changes in the regulatory or administrative landscape could adversely affect our financial condition and results of operations; the risk that natural disasters, public health crises (similar to and including the ongoing COVID-19 pandemic), political crises, negative global climate patterns, or other catastrophic events could adversely affect our operations and financial results, or those of our franchisees or vendors; the risk that reductions in income and cash flow from our credit card arrangement related to our private label and co-branded credit cards could adversely affect our operating results and cash flows; the risk that the adoption of new accounting pronouncements will impact future results; the risk that we do not repurchase some or all of the shares we anticipate purchasing pursuant to our repurchase program; and the risk that we will not be successful in defending various proceedings, lawsuits, disputes, and claims. </p> <p xmlns="http://www.w3.org/1999/xhtml"> Additional information regarding factors that could cause results to differ can be found in the Company&#039;s Current Report on Form 8-K filed with the Securities and Exchange Commission on April 23, 2020, as well as the Company&#039;s subsequent filings with the Securities and Exchange Commission. </p> <p xmlns="http://www.w3.org/1999/xhtml"> These forward-looking statements are based on information as of June 4, 2020. The Company assumes no obligation to publicly update or revise its forward-looking statements even if experience or future changes make it clear that any projected results expressed or implied therein will not be realized. </p> <p xmlns="http://www.w3.org/1999/xhtml"> <b xmlns="http://www.w3.org/1999/xhtml">About Gap Inc.</b> </p> <p xmlns="http://www.w3.org/1999/xhtml"> Gap Inc. is a leading global retailer offering clothing, accessories, and personal care products for men, women, and children under the Old Navy, Gap, Banana Republic, Athleta, Intermix, Janie and Jack, and Hill City brands. Fiscal year 2019 net sales were $16.4 billion. Gap Inc. products are available for purchase in more than 90 countries worldwide through Company-operated stores, franchise stores, and e-commerce sites. For more information, please visit <a xmlns="http://www.w3.org/1999/xhtml" rel="nofollow" href="https://cts.businesswire.com/ct/CT?id=smartlink&amp;url=http%3A%2F%2Fwww.gapinc.com&amp;esheet=52230455&amp;newsitemid=20200604005723&amp;lan=en-US&amp;anchor=www.gapinc.com&amp;index=3&amp;md5=2757e4e093a0e84dd91ccd913e39661c" shape="rect" rel="nofollow">www.gapinc.com</a>. </p> <table xmlns="http://www.w3.org/1999/xhtml" cellspacing="0" class="bwtablemarginb bwblockalignl"> <tr xmlns="http://www.w3.org/1999/xhtml"> <td xmlns="http://www.w3.org/1999/xhtml" colspan="7" class="bwvertalignb bwpadl0 bwnowrap bwalignl" rowspan="1"><b xmlns="http://www.w3.org/1999/xhtml">The Gap, Inc.</b></td> </tr> <tr xmlns="http://www.w3.org/1999/xhtml"> <td xmlns="http://www.w3.org/1999/xhtml" colspan="7" class="bwvertalignb bwpadl0 bwnowrap bwalignl" rowspan="1"> <p xmlns="http://www.w3.org/1999/xhtml" class="bwcellpmargin bwalignl"> <b xmlns="http://www.w3.org/1999/xhtml">CONDENSED CONSOLIDATED BALANCE SHEETS</b> </p> </td> </tr> <tr xmlns="http://www.w3.org/1999/xhtml"> <td xmlns="http://www.w3.org/1999/xhtml" colspan="7" class="bwvertalignb bwpadl0 bwalignl" rowspan="1"> <p xmlns="http://www.w3.org/1999/xhtml" class="bwcellpmargin bwalignl"> <b xmlns="http://www.w3.org/1999/xhtml">UNAUDITED</b> </p> </td> </tr> <tr xmlns="http://www.w3.org/1999/xhtml"> <td xmlns="http://www.w3.org/1999/xhtml" colspan="7" class="bwpadl0" rowspan="1"></td> </tr> <tr xmlns="http://www.w3.org/1999/xhtml"> <td xmlns="http://www.w3.org/1999/xhtml" class="bwalignl bwvertalignm bwpadl0" rowspan="1" colspan="1"><b xmlns="http://www.w3.org/1999/xhtml">($ in millions)</b></td> <td xmlns="http://www.w3.org/1999/xhtml" class="bwalignr bwvertalignb bwpadl0" rowspan="1" colspan="1"></td> <td xmlns="http://www.w3.org/1999/xhtml" class="bwalignc bwvertalignm bwsinglebottom bwpadl0 bwnowrap" colspan="2" rowspan="1"><b xmlns="http://www.w3.org/1999/xhtml">May 2,<br xmlns="http://www.w3.org/1999/xhtml" />2020</b></td> <td xmlns="http://www.w3.org/1999/xhtml" class="bwvertalignb bwpadl0" rowspan="1" colspan="1"></td> <td xmlns="http://www.w3.org/1999/xhtml" class="bwalignc bwvertalignm bwsinglebottom bwpadl0 bwnowrap" colspan="2" rowspan="1"><b xmlns="http://www.w3.org/1999/xhtml">May 4,<br xmlns="http://www.w3.org/1999/xhtml" />2019</b></td> </tr> <tr xmlns="http://www.w3.org/1999/xhtml"> <td xmlns="http://www.w3.org/1999/xhtml" class="bwalignl bwvertalignb bwpadl0" rowspan="1" colspan="1">ASSETS</td> <td xmlns="http://www.w3.org/1999/xhtml" class="bwvertalignb bwpadl0" rowspan="1" colspan="1"></td> <td xmlns="http://www.w3.org/1999/xhtml" class="bwalignc bwvertalignb bwpadl0" colspan="2" rowspan="1"></td> <td xmlns="http://www.w3.org/1999/xhtml" class="bwalignc bwvertalignb bwpadl0" rowspan="1" colspan="1"></td> <td xmlns="http://www.w3.org/1999/xhtml" class="bwalignc bwvertalignb bwpadl0" colspan="2" rowspan="1"></td> </tr> <tr xmlns="http://www.w3.org/1999/xhtml"> <td xmlns="http://www.w3.org/1999/xhtml" class="bwalignl bwvertalignb bwpadl0" rowspan="1" colspan="1">Current assets:</td> <td xmlns="http://www.w3.org/1999/xhtml" class="bwvertalignb bwpadl0" rowspan="1" colspan="1"></td> <td xmlns="http://www.w3.org/1999/xhtml" class="bwalignc bwvertalignb bwpadl0" colspan="2" rowspan="1"></td> <td xmlns="http://www.w3.org/1999/xhtml" class="bwalignc bwvertalignb bwpadl0" rowspan="1" colspan="1"></td> <td xmlns="http://www.w3.org/1999/xhtml" class="bwalignc bwvertalignb bwpadl0" colspan="2" rowspan="1"></td> </tr> <tr xmlns="http://www.w3.org/1999/xhtml"> <td xmlns="http://www.w3.org/1999/xhtml" class="bwalignl bwvertalignb bwpadl3" rowspan="1" colspan="1">Cash and cash equivalents</td> <td xmlns="http://www.w3.org/1999/xhtml" class="bwalignr bwvertalignb bwpadl0" rowspan="1" colspan="1"></td> <td xmlns="http://www.w3.org/1999/xhtml" class="bwalignr bwvertalignb bwpadl0 bwpadr0" rowspan="1" colspan="1"> <p xmlns="http://www.w3.org/1999/xhtml" class="bwalignr bwcellpmargin"> $ </p> </td> <td xmlns="http://www.w3.org/1999/xhtml" class="bwalignr bwvertalignb bwpadl0 bwpadr0" rowspan="1" colspan="1"> <p xmlns="http://www.w3.org/1999/xhtml" class="bwalignr bwcellpmargin"> 1,028 </p> </td> <td xmlns="http://www.w3.org/1999/xhtml" class="bwalignc bwvertalignb bwpadl0" rowspan="1" colspan="1"></td> <td xmlns="http://www.w3.org/1999/xhtml" class="bwalignr bwvertalignb bwpadl0 bwpadr0" rowspan="1" colspan="1"> <p xmlns="http://www.w3.org/1999/xhtml" class="bwalignr bwcellpmargin"> $ </p> </td> <td xmlns="http://www.w3.org/1999/xhtml" class="bwalignr bwvertalignb bwpadl0 bwpadr0" rowspan="1" colspan="1"> <p xmlns="http://www.w3.org/1999/xhtml" class="bwalignr bwcellpmargin"> 941 </p> </td> </tr> <tr xmlns="http://www.w3.org/1999/xhtml"> <td xmlns="http://www.w3.org/1999/xhtml" class="bwalignl bwvertalignb bwpadl3" rowspan="1" colspan="1">Short-term investments</td> <td xmlns="http://www.w3.org/1999/xhtml" class="bwalignr bwvertalignb bwpadl0" rowspan="1" colspan="1"></td> <td xmlns="http://www.w3.org/1999/xhtml" class="bwalignr bwvertalignb bwpadl0 bwpadr0" rowspan="1" colspan="1"> <p xmlns="http://www.w3.org/1999/xhtml" class="bwalignr bwcellpmargin">   </p> </td> <td xmlns="http://www.w3.org/1999/xhtml" class="bwalignr bwvertalignb bwpadl0 bwpadr0" rowspan="1" colspan="1"> <p xmlns="http://www.w3.org/1999/xhtml" class="bwalignr bwcellpmargin"> 51 </p> </td> <td xmlns="http://www.w3.org/1999/xhtml" class="bwalignc bwvertalignb bwpadl0" rowspan="1" colspan="1"></td> <td xmlns="http://www.w3.org/1999/xhtml" class="bwalignr bwvertalignb bwpadl0 bwpadr0" rowspan="1" colspan="1"> <p xmlns="http://www.w3.org/1999/xhtml" class="bwalignr bwcellpmargin">   </p> </td> <td xmlns="http://www.w3.org/1999/xhtml" class="bwalignr bwvertalignb bwpadl0 bwpadr0" rowspan="1" colspan="1"> <p xmlns="http://www.w3.org/1999/xhtml" class="bwalignr bwcellpmargin"> 272 </p> </td> </tr> <tr xmlns="http://www.w3.org/1999/xhtml"> <td xmlns="http://www.w3.org/1999/xhtml" class="bwalignl bwvertalignb bwpadl3" rowspan="1" colspan="1">Merchandise inventory</td> <td xmlns="http://www.w3.org/1999/xhtml" class="bwvertalignb bwpadl0" rowspan="1" colspan="1"></td> <td xmlns="http://www.w3.org/1999/xhtml" class="bwalignr bwvertalignb bwpadl0 bwpadr0" rowspan="1" colspan="1"> <p xmlns="http://www.w3.org/1999/xhtml" class="bwalignr bwcellpmargin">   </p> </td> <td xmlns="http://www.w3.org/1999/xhtml" class="bwalignr bwvertalignb bwpadl0 bwpadr0" rowspan="1" colspan="1"> <p xmlns="http://www.w3.org/1999/xhtml" class="bwalignr bwcellpmargin"> 2,217 </p> </td> <td xmlns="http://www.w3.org/1999/xhtml" class="bwalignc bwvertalignb bwpadl0" rowspan="1" colspan="1"></td> <td xmlns="http://www.w3.org/1999/xhtml" class="bwalignr bwvertalignb bwpadl0 bwpadr0" rowspan="1" colspan="1"> <p xmlns="http://www.w3.org/1999/xhtml" class="bwalignr bwcellpmargin">   </p> </td> <td xmlns="http://www.w3.org/1999/xhtml" class="bwalignr bwvertalignb bwpadl0 bwpadr0" rowspan="1" colspan="1"> <p xmlns="http://www.w3.org/1999/xhtml" class="bwalignr bwcellpmargin"> 2,242 </p> </td> </tr> <tr xmlns="http://www.w3.org/1999/xhtml"> <td xmlns="http://www.w3.org/1999/xhtml" class="bwalignl bwvertalignb bwpadl3" rowspan="1" colspan="1">Other current assets</td> <td xmlns="http://www.w3.org/1999/xhtml" class="bwvertalignb bwpadl0" rowspan="1" colspan="1"></td> <td xmlns="http://www.w3.org/1999/xhtml" class="bwalignr bwvertalignb bwsinglebottom bwpadl0 bwpadr0" rowspan="1" colspan="1"> <p xmlns="http://www.w3.org/1999/xhtml" class="bwalignr bwcellpmargin">   </p> </td> <td xmlns="http://www.w3.org/1999/xhtml" class="bwalignr bwvertalignb bwsinglebottom bwpadl0 bwpadr0" rowspan="1" colspan="1"> <p xmlns="http://www.w3.org/1999/xhtml" class="bwalignr bwcellpmargin"> 920 </p> </td> <td xmlns="http://www.w3.org/1999/xhtml" class="bwalignc bwvertalignb bwpadl0" rowspan="1" colspan="1"></td> <td xmlns="http://www.w3.org/1999/xhtml" class="bwalignr bwvertalignb bwsinglebottom bwpadl0 bwpadr0" rowspan="1" colspan="1"> <p xmlns="http://www.w3.org/1999/xhtml" class="bwalignr bwcellpmargin">   </p> </td> <td xmlns="http://www.w3.org/1999/xhtml" class="bwalignr bwvertalignb bwsinglebottom bwpadl0 bwpadr0" rowspan="1" colspan="1"> <p xmlns="http://www.w3.org/1999/xhtml" class="bwalignr bwcellpmargin"> 757 </p> </td> </tr> <tr xmlns="http://www.w3.org/1999/xhtml"> <td xmlns="http://www.w3.org/1999/xhtml" class="bwvertalignb bwpadl6" rowspan="1" colspan="1">Total current assets</td> <td xmlns="http://www.w3.org/1999/xhtml" class="bwvertalignb bwpadl0" rowspan="1" colspan="1"></td> <td xmlns="http://www.w3.org/1999/xhtml" class="bwalignr bwvertalignb bwsinglebottom bwpadl0 bwpadr0" rowspan="1" colspan="1"> <p xmlns="http://www.w3.org/1999/xhtml" class="bwalignr bwcellpmargin">   </p> </td> <td xmlns="http://www.w3.org/1999/xhtml" class="bwalignr bwvertalignb bwsinglebottom bwpadl0 bwpadr0" rowspan="1" colspan="1"> <p xmlns="http://www.w3.org/1999/xhtml" class="bwalignr bwcellpmargin"> 4,216 </p> </td> <td xmlns="http://www.w3.org/1999/xhtml" class="bwalignc bwvertalignb bwpadl0" rowspan="1" colspan="1"></td> <td xmlns="http://www.w3.org/1999/xhtml" class="bwalignr bwvertalignb bwsinglebottom bwpadl0 bwpadr0" rowspan="1" colspan="1"> <p xmlns="http://www.w3.org/1999/xhtml" class="bwalignr bwcellpmargin">   </p> </td> <td xmlns="http://www.w3.org/1999/xhtml" class="bwalignr bwvertalignb bwsinglebottom bwpadl0 bwpadr0" rowspan="1" colspan="1"> <p xmlns="http://www.w3.org/1999/xhtml" class="bwalignr bwcellpmargin"> 4,212 </p> </td> </tr> <tr xmlns="http://www.w3.org/1999/xhtml"> <td xmlns="http://www.w3.org/1999/xhtml" class="bwalignl bwvertalignb bwpadl0" rowspan="1" colspan="1">Property and equipment, net</td> <td xmlns="http://www.w3.org/1999/xhtml" class="bwvertalignb bwpadl0" rowspan="1" colspan="1"></td> <td xmlns="http://www.w3.org/1999/xhtml" class="bwalignr bwvertalignb bwpadl0 bwpadr0" rowspan="1" colspan="1"> <p xmlns="http://www.w3.org/1999/xhtml" class="bwalignr bwcellpmargin">   </p> </td> <td xmlns="http://www.w3.org/1999/xhtml" class="bwalignr bwvertalignb bwpadl0 bwpadr0" rowspan="1" colspan="1"> <p xmlns="http://www.w3.org/1999/xhtml" class="bwalignr bwcellpmargin"> 2,945 </p> </td> <td xmlns="http://www.w3.org/1999/xhtml" class="bwalignc bwvertalignb bwpadl0" rowspan="1" colspan="1"></td> <td xmlns="http://www.w3.org/1999/xhtml" class="bwalignr bwvertalignb bwpadl0 bwpadr0" rowspan="1" colspan="1"> <p xmlns="http://www.w3.org/1999/xhtml" class="bwalignr bwcellpmargin">   </p> </td> <td xmlns="http://www.w3.org/1999/xhtml" class="bwalignr bwvertalignb bwpadl0 bwpadr0" rowspan="1" colspan="1"> <p xmlns="http://www.w3.org/1999/xhtml" class="bwalignr bwcellpmargin"> 3,129 </p> </td> </tr> <tr xmlns="http://www.w3.org/1999/xhtml"> <td xmlns="http://www.w3.org/1999/xhtml" class="bwalignl bwvertalignb bwpadl0" rowspan="1" colspan="1">Operating lease assets</td> <td xmlns="http://www.w3.org/1999/xhtml" class="bwvertalignb bwpadl0" rowspan="1" colspan="1"></td> <td xmlns="http://www.w3.org/1999/xhtml" class="bwalignr bwvertalignb bwpadl0 bwpadr0" rowspan="1" colspan="1"> <p xmlns="http://www.w3.org/1999/xhtml" class="bwalignr bwcellpmargin">   </p> </td> <td xmlns="http://www.w3.org/1999/xhtml" class="bwalignr bwvertalignb bwpadl0 bwpadr0" rowspan="1" colspan="1"> <p xmlns="http://www.w3.org/1999/xhtml" class="bwalignr bwcellpmargin"> 4,851 </p> </td> <td xmlns="http://www.w3.org/1999/xhtml" class="bwalignc bwvertalignb bwpadl0" rowspan="1" colspan="1"></td> <td xmlns="http://www.w3.org/1999/xhtml" class="bwalignr bwvertalignb bwpadl0 bwpadr0" rowspan="1" colspan="1"> <p xmlns="http://www.w3.org/1999/xhtml" class="bwalignr bwcellpmargin">   </p> </td> <td xmlns="http://www.w3.org/1999/xhtml" class="bwalignr bwvertalignb bwpadl0 bwpadr0" rowspan="1" colspan="1"> <p xmlns="http://www.w3.org/1999/xhtml" class="bwalignr bwcellpmargin"> 5,732 </p> </td> </tr> <tr xmlns="http://www.w3.org/1999/xhtml"> <td xmlns="http://www.w3.org/1999/xhtml" class="bwalignl bwvertalignb bwpadl0" rowspan="1" colspan="1">Other long-term assets</td> <td xmlns="http://www.w3.org/1999/xhtml" class="bwvertalignb bwpadl0" rowspan="1" colspan="1"></td> <td xmlns="http://www.w3.org/1999/xhtml" class="bwalignr bwvertalignb bwpadl0 bwsinglebottom bwpadr0" rowspan="1" colspan="1"> <p xmlns="http://www.w3.org/1999/xhtml" class="bwalignr bwcellpmargin">   </p> </td> <td xmlns="http://www.w3.org/1999/xhtml" class="bwalignr bwvertalignb bwpadl0 bwsinglebottom bwpadr0" rowspan="1" colspan="1"> <p xmlns="http://www.w3.org/1999/xhtml" class="bwalignr bwcellpmargin"> 698 </p> </td> <td xmlns="http://www.w3.org/1999/xhtml" ...</tr></table><p><a href=https://www.benzinga.com/pressreleases/20/06/b16184326/gap-inc-reports-first-quarter-results alt=Gap Inc. Reports First Quarter Results>Full story available on Benzinga.com</a></p> GPS Retail Sales Press Releases Thu, 04 Jun 2020 20:15:00 +0000 Business Wire 16184326 at https://www.benzinga.com Cox Automotive's Dealer Software Solutions Brands Publish Playbooks As Auto Retail Begins To Rebound https://www.benzinga.com/pressreleases/20/06/n16182856/cox-automotives-dealer-software-solutions-brands-publish-playbooks-as-auto-retail-begins-to-reboun <p xmlns="http://www.w3.org/1999/xhtml"><span xmlns="http://www.w3.org/1999/xhtml" class="xn-location">ATLANTA</span>, <span xmlns="http://www.w3.org/1999/xhtml" class="xn-chron">June 4, 2020</span> /PRNewswire/ -- Consumers are beginning to re-engage with dealerships. Dealers are re-opening their doors, and there are indications the industry is rebounding.  The latest Cox Automotive analysis shows new auto sales in May finished down 30.2 percent from <span xmlns="http://www.w3.org/1999/xhtml" class="xn-chron">May 2019</span> but showed an increase of 57 percent from April 2020.  Used cars sales in late May were down approximately 20 percent from year-earlier levels, an improvement from late April when the sales pace for used vehicles was down more than 40 percent.</p> <div xmlns="http://www.w3.org/1999/xhtml" class="PRN_ImbeddedAssetReference" id="DivAssetPlaceHolder1"> <p xmlns="http://www.w3.org/1999/xhtml"> <a xmlns="http://www.w3.org/1999/xhtml" href="https://mma.prnewswire.com/media/805974/cox_Logo.html" target="_blank" rel="nofollow" rel="nofollow"><br /> <img xmlns="http://www.w3.org/1999/xhtml" src="https://mma.prnewswire.com/media/805974/cox_Logo.jpg" title="(PRNewsfoto/Cox Automotive)" alt="(PRNewsfoto/Cox Automotive)" /><br /> </a> </p> </div> <p xmlns="http://www.w3.org/1999/xhtml">If there is a silver lining to the downturn, it is that savvy dealerships have led the way in re-imagining automotive retail, adopting strategies and techniques that will continue to benefit their businesses into the future. To help document best practices moving forward, Cox Automotive&#39;s Dealer Software Solutions portfolio (Dealer.com, Dealertrack DMS, VinSolutions, and Xtime) has developed three playbooks to help dealers tackle their biggest challenges in this digital-first world: generating demand and selling and servicing vehicles safely and cost effectively.</p> <p xmlns="http://www.w3.org/1999/xhtml">&#34;Our initial response was to quickly disseminate as much information as we could to help our clients be ...</p><p><a href=https://www.benzinga.com/pressreleases/20/06/n16182856/cox-automotives-dealer-software-solutions-brands-publish-playbooks-as-auto-retail-begins-to-reboun alt=Cox Automotive&#039;s Dealer Software Solutions Brands Publish Playbooks As Auto Retail Begins To Rebound>Full story available on Benzinga.com</a></p> automotive Transportation/Trucking/Railroad Retail Sales Press Releases Thu, 04 Jun 2020 18:00:00 +0000 PRNewswire 16182856 at https://www.benzinga.com Enquire Updates Senior Living COVID-19 Statistics for May https://www.benzinga.com/pressreleases/20/06/p16182431/enquire-updates-senior-living-covid-19-statistics-for-may <p><i>Aggregated Data from Over 2,200 Senior Living Communities Illustrate the Effects of the Pandemic on Sales and Marketing</i></p> <p class="releaseDateline">DENVER (PRWEB) June 04, 2020 </p> <p> Enquire, a leading provider of cloud CRM, marketing automation and contact center solutions for senior living communities and post-acute care organizations, has aggregated actual sales and marketing data from over 2,200 senior living communities providing insight into the true impact of COVID-19 – now through the end of May, 2020. In this report, 2020 averages for specific metrics by care level, state and region as well as year-to-date metrics were compared to the same period in 2019. This data was also narrowed to the just-completed month of May and analyzed against the same data points from May 2019. The report focuses on the average inquiry, tour and move in volume month-over-month per community and compares 2019 trends to 2020. Additionally, the report looks ...</p><p><a href=https://www.benzinga.com/pressreleases/20/06/p16182431/enquire-updates-senior-living-covid-19-statistics-for-may alt=Enquire Updates Senior Living COVID-19 Statistics for May>Full story available on Benzinga.com</a></p> Retail Sales Thu, 04 Jun 2020 17:00:00 +0000 PRWeb 16182431 at https://www.benzinga.com Enquire Updates Senior Living COVID-19 Statistics for May https://www.benzinga.com/pressreleases/20/06/n16182404/enquire-updates-senior-living-covid-19-statistics-for-may <p xmlns="http://www.w3.org/1999/xhtml"><span xmlns="http://www.w3.org/1999/xhtml" class="xn-location">DENVER</span>, <span xmlns="http://www.w3.org/1999/xhtml" class="xn-chron">June 4, 2020</span> /PRNewswire-PRWeb/ -- Enquire, a leading provider of cloud CRM, marketing automation and contact center solutions for senior living communities and post-acute care organizations, has aggregated actual sales and marketing data from over 2,200 senior living communities providing insight into the true impact of COVID-19 – now through the end of May, 2020. In this report, 2020 averages for specific metrics by care level, state and region as well as year-to-date metrics were compared to the same period in 2019. This data was also narrowed to the just-completed month of May and analyzed against the same data points from <span xmlns="http://www.w3.org/1999/xhtml" class="xn-chron">May 2019</span>. The report focuses on the average inquiry, tour and move in volume month-over-month per community and compares 2019 trends to 2020. Additionally, the report looks at other key sales and marketing metrics like web forms from internet inquiries, home ...</p><p><a href=https://www.benzinga.com/pressreleases/20/06/n16182404/enquire-updates-senior-living-covid-19-statistics-for-may alt=Enquire Updates Senior Living COVID-19 Statistics for May>Full story available on Benzinga.com</a></p> Residential Real Estate Retail Sales Press Releases Real Estate Thu, 04 Jun 2020 17:00:00 +0000 PRNewswire 16182404 at https://www.benzinga.com COVID-19 Halted Otherwise Healthy US Auto Show Season https://www.benzinga.com/pressreleases/20/06/g16182316/covid-19-halted-otherwise-healthy-us-auto-show-season <link type="text/css" rel="stylesheet" href="https://www.globenewswire.com/styles/gnw_nitf.css" /> <p align="left">ROCHESTER, Michigan, June 04, 2020 (GLOBE NEWSWIRE) -- Foresight Research&#039;s recently released report on attendance at US auto shows reveals that until COVID-19 forced an abrupt end to the season in early March, attendance was actually on the rise over the previous year.  According to the <em>2019-20 Auto Show Season Attendance Report ©</em>, out of 46 US shows Foresight measured consistently in both years 61% resulted in higher year-over-year attendance while just 13% of shows had fewer attendees this year.  Even given the cancellation of ten shows at the end of the season (including New York, one of the country&#039;s best attended auto shows), more than 5.3 million American households attended an auto show last ...</p><p><a href=https://www.benzinga.com/pressreleases/20/06/g16182316/covid-19-halted-otherwise-healthy-us-auto-show-season alt=COVID-19 Halted Otherwise Healthy US Auto Show Season>Full story available on Benzinga.com</a></p> Retail Sales Press Releases Thu, 04 Jun 2020 16:48:12 +0000 Globe Newswire 16182316 at https://www.benzinga.com