Starbucks blames profit drop on changes to accounting

first_imgStarbucks has blamed a 6% drop in international profits for the three months to 31 October on new accounting measures.The group announced profits of $117m (£62m) in the quarter, compared to $124m during the same period in 2005.Starbucks said its revenue had risen 22% to $7.8bn for the full year, leading to overall earnings of $564mn, an increase of 14%. Sales at outlets that had been open for at least a year increased by 5%.Jim Donald, president and chief executive, said the fall in profits was due to two new accounting measures. Starbucks delivered “strong operating results”, opening 2,199 stores worldwide, he said.”We opened a record number of new stores around the world, which contributed to strong top line growth, and we enhanced and expanded our product offerings.”There are over 11,000 Starbucks outlets worldwide, including 520 outlets in the UK and Ireland.last_img read more

Rep. Steve Israel Won’t Seek 3rd Term as DCCC Chair

first_imgSign up for our COVID-19 newsletter to stay up-to-date on the latest coronavirus news throughout New York After Democrats failed to blunt a so-called “Republican wave” that swept across the nation Tuesday, U.S. Rep. Steve Israel (D-Dix Hills) has decided not to serve another term as chairman of the Democratic Congressional Campaign Committee.Israel’s spokeswoman Samantha Slater said Thursday that Israel turned down an offer by House Minority Leader Nancy Pelosi (D-California) to serve a third term. Israel, the Democratic campaign boss since 2010, wasn’t available to comment.Slater noted that Israel made his decision in the spring, long before Tuesday’s midterm election. “I won’t sugarcoat it–we always knew tonight would be a challenging night, and it was for Democrats at every level,” Israel said in a statement released by the DCCC. “But as tough as tonight was, we did everything in our control to narrow the Republicans’ pick-up opportunities and limit their chance to take advantage of the wave.”The congressman’s decision comes after a brutal drubbing by Republicans, who now control both the U.S. Senate and House of Representatives. The GOP picked up at least seven seats in the Senate, one more than they needed for a majority, and even managed to bolster its ranks in the House.Democrats also suffered a pair of painful losses in Israel’s home state: six-term incumbent U.S. Rep. Tim Bishop (D-Southampton) was unseated by Republican state Senator Lee Zeldin, and Michael Grimm (R-Staten Island) comfortably defeated his Democratic challenger despite being under federal indictment.Israel beat Republican challenger Grant Lally to hold on to his seat.Republicans had a simple message: a vote for Democrats was a vote for President Barack Obama, whose approval rating is the lowest its been since he took office, according to a Washington Post-ABC News poll released last month.When Democrats realized that the anti-Obama messages was resonating with voters, they avoided the president at all costs. One Democratic candidate in Kentucky, Alison Lundergan Grimes, even refused to say whether or not she voted for Obama.In his statement released by the DCCC, Israel invoked the always-frustrating New York Mets, whose dreadful season doesn’t look so bad in comparison.“As a Mets fan, I’ve learned to look on the bright side–and we have a strong Democratic Caucus who will come to Congress next year focused on strengthening the middle class and working together on commonsense solutions,” Israel said.“For years Republicans have been blaming President Obama, Harry Reid and Nancy Pelosi,” he added. “Now that they control Congress, they have no one left to blame. It’s time for them to prove they can produce results for America’s middle class.”last_img read more

Avotins sisters finish1-2 at girls golf sectional tournament

first_imgEveryone was forced to scramble a bit when heavy rains the previous Sunday moved the sectional tournament from Kanon Valley, its home the last few years, to Barkers Brook, an unfamiliar layout for most of the field.This didn’t bother the Avotins, though, as Mia Avotins calmly shot an 80 to earn the individual sectional title, and only Nataly Avotins finished close to her, her 83 finishing second by five strokes.Meanwhile, Liverpool fought for the sectional large-school team title, and finished at 390, second only to Fayetteville-Manlius, who won for the fourth year in a row by posting 371. C-NS had a strong third-place showing at 402, led by Krohl, whose steady round of 89 put her alone in sixth place, easily among the top nine to advance to the state tournament.Ainsworth finished with a 93, tying for eighth place, and while not in the main field for the state tournament, she will serve as a second alternate.Krohl and the Avotins are joined at the state tournament by F-M’s Bailey Wallace and Lucy Fowler, plus Danielle Caringi (Camden), Lena Jones (Jamesville-DeWitt) and Gabby Papale and Belle Pepe from the combined Utica-Notre Dame-Whitesboro-Oriskany side.Just before all this, Liverpool beat C-NS’s Blue team 191-196 in a head-to-head match as Mia Avotins shot a 37, but Nataly Avotins’ 42 was topped by Krohl’s 41.Ainsworth shot a 45 to finish fourth and teammate Jessica Ricciardi had a 50, but the Warriors held on with a 51 from Hanna Dombroski and a 61 from Lindsey Toper. Emma Piper had a 60.Share this:FacebookTwitterLinkedInRedditComment on this Story Tags: C-NSGirls golfliverpoolcenter_img All spring long, Liverpool girls golfers Mia and Nataly Avotins set the standard among individual performers, both in the Salt City Athletic Conference Metro division and across Central New York.And that fact was reinforced during Wednesday’s Section III championship tournament at Barkers Brook in Oriskany Falls, where the Avotins sisters earned the top two individual finishes.They weren’t the only local standouts, though. Two Cicero-North Syracuse golfers, Amy Krohl and Abby Ainsworth, joined the Avotins in earning place at this weekend’s New York State Public High School Athletic Association championships.last_img read more

World Juniors 2020: Canada, Rimouski forward Alexis Lafreniere putting up impressive numbers in pre-draft year

first_imgWorld Juniors 2020: Dylan Cozens making history for Canada Still, as sweet as these superlatives sound, they don’t necessarily guarantee Lafreniere will outproduce or outperform any of the aforementioned top picks. He’s still a teenager learning the game, and his enthusiasm has led to some undisciplined play. Never neutralized completely, Lafreniere has been held in check, albeit for short periods of time.The constant dilemma for opponents past or present is managing and planning around the certainty that Lafreniere has both the will and the skill to change the complexion of a game in an instant. Looking at his numbers in comparison to several current NHL stars at the same age, there’s no reason to think he won’t do the same at the highest level. The remarkable success of Alexis Lafreniere’s junior career has made him the clear-cut favorite to be the first overall pick in the 2020 NHL Entry Draft.Not only has he lived up to the lofty expectations but he appears to be on the verge of establishing a new standard of excellence for French Canadian-born prospects. A bruising winger with exceptional puck skills, Lafreniere was raised in the Montreal suburb of Saint-Eustache, Que., and currently plays for the Rimouski Oceanic of the Quebec Major Junior Hockey League. It’s the same organization that produced two of the last three Canadian-born forwards from the Quebec League to go first overall — Vincent Lecavalier in 1998 and Sidney Crosby in 2005. Of course, goals and assists are just part of the overall evaluation process.The fact they play different forward positions in different leagues doesn’t cheapen the significance of either player’s impressive stat totals. And, now that we know Lafreniere’s impressive draft-year production isn’t enhanced by some sort of multiplier, we can begin to analyze the aspects of his game that make him unique; not only for this specific draft class but possibly for any draft prospect since Connor McDavid.Lafreniere is a powerful left wing who possesses the vision and touch of a finesse playmaker. He was the key cog on what was arguably the best line in all of Canadian major junior when he played this season with center Cedric Pare and the now-injured Calgary Flames prospect Dmitry Zavgorodniy; each averaged near, or over, two points-per-game. While this type of single-line production has historically been common in juniors, it has become more of a rarity in the past decade and it’s no stretch to say that neither Pare or Zavgorodniy would be putting up career years had it not been for the talented 18-year-old.World Juniors 2020: Canada’s roster | AnalysisIf you listed the last half dozen first-overall picks, to include McDavid, none offer Lafreniere’s impressive mix of creativity and rugged play. That isn’t saying one style or player is better or worse. Rather, it spotlights the significance of having a high-octane physical winger with an elite scoring touch being the centerpiece of the draft in an era where the average NHL player is not only quicker but shrinking as well.Lafreniere’s skills with the puck are as diverse as they are appealing but the added bonus is his intangibles — leadership, work ethic and compete level. He has the balance and agility of Auston Matthews, the vision and passing of Jack Hughes, Nico Hischier’s two-way proclivity and, most importantly, Lafreniere displays McDavid’s commanding on-ice presence.Draft-year production of current NHL Stars drafted out of the CHLPlayerLeagueGPPTSPTS/GYearLeague G/GSidney CrosbyQMJHL621682.7120056.37Connor McDavidOHL471202.5520157.01Patrick KaneOHL581452.520077.46Alexis LafreniereQMJHL3270*2.192020*6.88Mitchell MarnerOHL631262.0020157.01Quinton ByfieldOHL3057*1.902020*7.64Taylor HallOHL571061.8620106.95John TavaresOHL561041.8620096.86Steven StamkosOHL611051.7220086.89Nathan MacKinnonQMJHL44751.7020136.91Andrei SvechnikovOHL44721.6420187.10Nico HischierQMJHL57861.5120176.90*Thru games played on Dec. 15A throwback from a physical standpoint, Lafreniere’s vision, stickhandling and hands are elite by present-day standards. He is a possession-driving forward who manages to look graceful in tight spaces as often as he does in open ice. There isn’t much an opponent can do once he and his linemates take control in the offensive zone and their surgical exchanges and weaving during the cycle force most checkers to waive the white flag and retreat to the slot. Once he’s afforded room, Lafreniere can deliver a devastating wrist shot and pick the corners with regularity. If we’re going to evaluate a premier prospect solely on point production, then Lafreniere’s grip on the top ranking has tightened. Not only is he leading the entire QMJHL in scoring, but he is expected to be on Canada’s top line at the IIHF World Junior Championship set to begin Dec. 26 in Ostrava, Czech Republic. While he made the team last year, he served as more of a depth player; this year, he’ll be leaned on for clutch play and help revitalize a Canadian power play that has struggled the last few tournaments. Lafreniere’s 27 power-play assists through Sunday are the most of any player in any of Canada’s three major junior leagues.The 2010s: Crosby named NHL Athlete of the Decade | NHL All-Decade TeamA scrub of Lafreniere’s resume prior to this season more than validates the consensus opinion that he would become the first pick in this draft. Selected first overall by Rimouski in the 2017 QMJHL Entry Draft, Lafreniere guided the Oceanic to a 43-point improvement in the standings, earning Rookie of the Year honor with 42 goals — the most by a 16-year-old since Crosby (2004). He kicked off last season by guiding Canada to a gold medal at the under-18 Ivan Hlinka and finishing as the tournament’s leading scorer. In league play, he posted his first 100-point season and was named the Canadian Hockey League’s Player of the Year despite being a year away from draft eligibility. At the rate he’s going, Lafreniere is the favorite to join Crosby and John Tavares as the only players in CHL history to win the prestigious award multiple times before they were drafted.So, how good are Lafreniere’s QMJHL numbers, really? After recording an impressive 1.72 points-per-game average last year, and bumping that up to a mind-numbing 2.19 through Dec. 15, he is on pace to join Crosby (2003, 2004) as the only two QMJHLer’s in the last 22 years to eclipse the 1.70 mark in consecutive pre-draft seasons. Additionally, his current 2.19 average would be the second-highest of any QMJHL draft prospect since 1996. In other words: Lafreniere has been the QMJHL’s most dominant pre-draft player not named Sidney Crosby in well over 20 years. He’s also accomplishing the feat when scoring in the Quebec League is nearly a full goal less per game now (6.88) than it was in 2000 (7.81). Of course, goal-scoring in “The Q” is slowly trending upwards from its low point in the mid-2000s but Lafreniere is single-handily out-pacing by a wide margin almost two decades worth of draft-eligible alumni.Impressive, indeed.Pre-draft QMJHL prospects 1993-20 (high picks and NHL notables)PlayerGPPTSPTS/GSeasonDrafted overallLeague G/GSidney Crosby621682.7120051st6.37Alexandre Daigle531372.5819931st8.81Daniel Briere671632.43199624th8.04Sidney Crosby591352.292004Draft-16.72Alexis Lafreniere32*70*2.19*20202020 Draft6.88*Jonathan Drouin491052.1420133rd6.91Pierre-Marc Bouchard691402.0320028th6.97Derick Brassard581162.0020066th7.41Vincent Lecavalier581151.9819981st7.44Alexis Lafreniere611051.722019Draft-16.92Nathan MacKinnon44751.7020131st6.91Brad Richards681151.69199864th7.44Alex Tanguay51851.67199812th7.44*Thru games played on Dec. 15Still, some continue to argue that Lafreniere’s numbers are the byproduct of playing in an up-tempo league as opposed to the more balanced Ontario Hockey League, or the tough and tight-checking Western Hockey League. A closer look into league-wide goal-scoring, however, reveals that it is the OHL, not the QMJHL, that offers the playmakers and goal scorers an environment far more conducive for registering impressive draft-year stats.This is relevant because it not only adds context to Lafreniere’s production but also to his closest competitor for the top spot in the draft — Quinton Byfield. The hulking center for the OHL’s Sudbury Wolves is nearly a full year younger than Lafreniere and averaging an impressive 1.90 points per game. Of Byfield’s 57 points in 30 games, 41 have come at even strength or shorthanded — the same number Lafreniere has recorded out of his 70 points but in two more games.The difference in overall point totals is due to Lafreniere’s significant advantage in power-play points (29 to Byfield’s 16). Rimouski, which operates the QMJHL’s second-best power play at 31.1 percent, earns 4.35 opportunities a game while Byfield’s Wolves sits at 24.2 percent effectiveness on 3.76 chances per contest. Even if, in a hypothetical scenario, Sudbury drew as many power-play chances as Rimouski, the additional goals they’d score would only bump Byfield’s overall point total from 57 to 61 (currently he’s been involved in 16 of the team’s 30 power-play goals).In conclusion, Alexis Lafreniere is outproducing Quinton Byfield by a wide margin, and doing so while the QMJHL is averaging 0.76 goals less per game than in Byfield’s OHL.2020 NHL Entry Draft Top 125: Lafreniere, Byfield continue to lead the packlast_img read more