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Trump says his election challenges probably won’t make it to the Supreme Court

Donald Trump acknowledged his vanishing path to overturning the results of the 2020 election in court during the first full interview since his defeat….

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U.S. President Donald Trump arrives to speak to reporters in the Brady Press Briefing Room at the White House in Washington, U.S., November 24, 2020.

Hannah McKay | Reuters

President Donald Trump acknowledged his vanishing path to overturning the results of the 2020 election in court on Sunday during his first full interview since losing to President-elect Joe Biden earlier this month.

“Well, the problem is, it’s hard to get into the Supreme Court,” Trump said on Fox News’ “Sunday Morning Futures,” after host Maria Bartiromo asked him when he expected his challenges to make it to the justices.

“I’ve got the best Supreme Court advocates, lawyers, that want to argue the case, if it gets there. They said, ‘It’s very hard to get a case up there,'” Trump added. “Can you imagine, Donald Trump, president of the United States, files a case, and I probably can’t get a case.”

Trump said that his cases, which legal experts have described as far-fetched, should make it to the high court, but did not predict that they would.

“It sounds like if you can’t be heard by the Supreme Court, you lose. Do you believe you will win this?” Bartiromo asked at one point.

“We should be heard by the Supreme Court. Something has to be able to get up there, otherwise, what is the Supreme Court?” Trump said. Asked if he still had a path to victory, Trump said he hoped so.

Trump has refused to concede although NBC News and every other major outlet has called the race for Biden. Biden is projected to win 306 Electoral College votes, well above the 270 needed to win.

The president’s assessment on Sunday was more downcast than public statements from his legal team, and seemed to suggest that he is inching closer to acknowledging his loss, if not offering a concession.

On Thursday, Trump said for the first time that he will leave the White House if the Electoral College votes for the Democrat. Electors will cast their ballots on Dec. 14. Trump did not say on Sunday when he might relinquish his challenges.

The president and his campaign have pressed courts around the country to delay the certification of election results, arguing baselessly that the contest was marred by widespread fraud.

Those suits have been rejected by nearly every judge to review them. More than two dozen cases filed by Republican interests challenging voting and counting processes have been denied, dismissed, or withdrawn, according to an NBC News tally.

Many of the cases have been filed in Pennsylvania, a state that Biden flipped. On Friday, a federal appeals court based in Philadelphia rejected a Trump campaign challenge in a scathing opinion that found that the “claims have no merit.”

The president’s legal advisor Jenna Ellis subsequently put out a statement on Twitter that she attributed to herself and Rudy Giuliani, another member of the president’s legal team, pledging to go “On to SCOTUS!”

The president spent the bulk of Sunday’s interview, which lasted approximately 45 minutes, falsely claiming that the 2020 election was fraudulent.

It takes the votes of four of the nine justices of the Supreme Court to agree to hear a case, and a majority to issue a decision.

Three of the justices on the court were appointed to the bench by Trump, though justices do not always rule in favor of the president who appointed them. Justices Neil Gorsuch and Brett Kavanaugh, both Trump appointees, have sided against the president in the past.

Ahead of the election, Trump had predicted that the race would ultimately be decided by the Supreme Court, and pushed to get Justice Amy Coney Barrett confirmed to the bench ahead of time. Democrats pressed for Barrett to recuse herself from any disputes related to the race, though she declined to commit herself to doing so.

The Supreme Court weighed in on a contested presidential election in the 2000 case Bush v. Gore, though the results of the race were much closer that year.

While Trump has yet to formally concede, his administration began providing Biden with transition resources last week as required by law.

“Well, the problem is, it’s hard to get into the Supreme Court,” Trump said on Fox News’ “Sunday Morning Futures,” after host Maria Bartiromo asked him when he expected his challenges to make it to the justices.

Source: https://www.cnbc.com/2020/11/29/trump-acknowledges-the-supreme-court-.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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Data also provided by Reuters

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

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