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Investigators looking at more than 500 leads in Nashville bombing, officials say

Law enforcement officials said Saturday they have not focused in on any individual in the investigation of the Christmas morning explosion in Nashville.

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Debris litters the road near the site of an explosion in the area of Second and Commerce in Nashville, Tennessee, U.S. December 25, 2020.

Elliott Anderson | via Reuters

Investigators have received more than 500 tips about the Christmas morning explosion in Nashville but have not determined the identity of the bomber, officials said Saturday afternoon.

Local law enforcement is working with federal agencies, including the Federal Bureau of Investigation and the Bureau of Alcohol, Tobacco, Firearms, and Explosives, to investigate the blast site, which encompasses dozens of businesses in the city.

“That’s the stage that we are at in this investigation. We are still continuing to follow every lead that we have, and we will continue to do so until we find out what’s happened,” said Don Cochran, the U.S. Attorney for the Middle District of Tennessee.

The explosion in downtown Nashville early Christmas morning shattered windows and knocked out communications networks. Authorities said they believe the explosion was intentional and came from an RV parked on the street.

According to the FBI, the RV arrived in the area shortly after 1 a.m. local time, and the explosion occurred around 5:30 a.m. A warning for citizens in the area to evacuate blared from the RV before the blast.

Doug Korneski, the FBI’s special agent in charge for the Memphis Field Office, said Saturday that there is no indication of a continuing bomb threat in the area. When asked about reports that investigators have identified a person of interest in the case, Korneski said the investigation was still looking at several individuals.

NBC News, citing multiple senior law enforcement officials, reported that investigators were searching the home of Anthony Quinn Warner, 63, in connection with the bombing. A Google Streetview image of Warner’s address in Antioch, Tennessee, shows an RV that matches the description of the vehicle that exploded Friday morning.

Metro Nashville Police Chief John Drake said on Friday that there were no known fatalities from the blast, though police were testing tissue found at the scene to determine if it could be human remains, according to NBC News. Korneski said investigators are still examining the tissue.

Nashville Mayor John Cooper has issued a curfew for part of downtown that runs through Sunday afternoon. Federal regulators briefly halted flights into the city on Friday as the investigation began.

Social media users have reported issues with phone and internet service in Nashville following the blast. AT&T said on Saturday morning that it is deploying portable cell sites in the area in an attempt to restore coverage quickly.

Local law enforcement is working with federal agencies, including the Federal Bureau of Investigation and the Bureau of Alcohol, Tobacco, Firearms, and Explosives, to investigate the blast site, which encompasses dozens of businesses in the city.

Source: https://www.cnbc.com/2020/12/26/investigators-looking-at-more-than-500-leads-in-nashville-bombing-officials-say.html

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Source: https://www.cnbc.com/earnings/

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Stitch Fix shares surge as online styling service reports surprise profit

Stitch Fix shares jumped after the online shopping and styling service reported a surprise profit for its fiscal fourth quarter.

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The Stitch Fix application for download in the Apple App Store on a smartphone arranged in Hastings-on-Hudson, New York, U.S., on Saturday, June 5, 2021. Stitch Fix Inc. is scheduled to release earning on June 7.

Tiffany Hagler-Geard | Bloomberg | Getty Images

Stitch Fix shares jumped 14% in extended trading Tuesday after the online shopping and styling service reported a surprise profit for its fiscal fourth quarter.

Sales for the three-month period ended July 31 also came in higher than analysts were expecting, thanks to outsized growth in Stitch Fix’s women’s and kids’ categories. Menswear has been growing more slowly, the company said.

Consumers have been splurging on new outfits in recent months, as many head back to school and return to social gatherings. Some have also citied the need for new clothes after either gaining or losing weight during the Covid pandemic.

Here’s how Stitch Fix did compared with what Wall Street was expecting, based on a survey of analysts by Refinitiv:

  • Earnings per share: 19 cents vs. a loss of 13 cents expected
  • Revenue: $571.2 million vs. $548 million expected

Net income attributable to shareholders was $28 million, or 19 cents per share, in the latest period. A year ago, it posted a net loss of $44.5 million, or 44 cents a share. Analysts had been looking for the company to book a loss of 13 cents per share.

Revenue grew to $571.2 million from $443.4 million a year earlier. That was better than analysts’ expectations for $548 million.

Stitch Fix reported nearly 4.2 million active clients, up 18% from a year earlier. The company said net revenue per active client was $505, surpassing the $500 threshold for the first time ever. Customers have been purchasing more items to keep at home, Stitch Fix said, as they have more brands and price points to choose from.

Stitch Fix defines active clients as people who either ordered a “Fix” subscription or bought an item directly from its website in the preceding 52 weeks from the final day of the quarter.

The company also said it had its lowest ever churn rate at the end of the period, meaning its customers are sticking around.

Last month, Stitch Fix finally opened up its direct-buy option, which is now known as “Freestyle,” to the public. This allows people to shop Stitch Fix for individual items of clothing, without needing to sign up for a subscription.

CEO Elizabeth Spaulding said this should help Stitch Fix grow its addressable market in the year ahead. The company’s next initiative will be to market and raise broader awareness around the offering, she said. Stitch Fix is preparing to roll out a national advertising campaign on the debut.

Early indications are that “Freestyle” is meaningfully accretive to the company’s revenue per active client metric, Spaulding told analysts on a conference call.

“Clients have agency, flexibility and choice while also experiencing a highly personalized shopping experience,” Spaulding said.

For its fiscal first quarter, Stitch Fix said it sees sales in a range of $560 million to $575 million. That’s below analysts’ expectations for $588 million.

For the upcoming fiscal year, Stitch Fix anticipates sales rising 15% or more from the prior year. Analysts polled by Refinitiv had been looking for an 18% increase.

While the entire retail industry is working through supply chain complications, Stitch Fix said it is seeing a small impact, but nothing that will hurt the business in the fall and winter months. The company said it is less reliant on Vietnam, where manufacturing has largely come to a standstill due to ongoing pandemic lockdowns in the region.

As of Tuesday’s market close, Stitch Fix shares have fallen nearly 39% this year. The company has a market cap of $3.8 billion.

Find the full press release from Stitch Fix here.

Sales for the three-month period ended July 31 also came in higher than analysts were expecting, thanks to outsized growth in Stitch Fix’s women’s and kids’ categories. Menswear has been growing more slowly, the company said.

Source: https://www.cnbc.com/2021/09/21/stitch-fix-sfix-q4-2021-earnings.html

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© 2021 CNBC LLC. All Rights Reserved. A Division of NBCUniversal

Data is a real-time snapshot *Data is delayed at least 15 minutes. Global Business and Financial News, Stock Quotes, and Market Data and Analysis.

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Source: https://www.cnbc.com/earnings/

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