About The times. (Gainesville, Ga.) 1972-current | View Entire Issue (Feb. 21, 2020)
Nate McCullough | News Editor 770-718-3431 | news@gainesvilletimes.com The Times, Gainesville, Georgia Friday, February 21,2020 A sign of changing times ALAN DIAZ I Associated Press In this June 7, 2017 photo, shoppers look at merchandise at a Victoria’s Secret store in Hialeah, Fla. Struggling Victorias Secret sold as women demand comfort BY ANNE D’INNOCENZIO AND MICHELLE CHAPMAN Associated Press New Mexico sues Google over collection of kids’ data BY SUSAN MONTOYA BRYAN Associated Press ALBUQUERQUE — New Mexico’s attor ney general sued Google Thursday over allegations the tech company is illegally col lecting personal data generated by children in violation of federal and state laws. The lawsuit filed in U.S. District Court in Albuquerque claims Google is using its education services package that is mar keted to school districts, teachers and par ents as a way to spy on children and their families. Attorney General Hector Balderas said that while the company touts Google Educa tion as a valuable tool for resource-deprived schools, it is a means to monitor children while they browse the internet in the class room and at home on private networks. He said the information being mined includes everything from physical locations to web sites visited, videos watched, saved pass words and contact lists. The state is seeking unspecified civil penalties. “Student safety should be the number one priority of any company providing services to our children, particularly in schools,” Bal deras said in a statement. “Tracking student data without parental consent is not only ille gal, it is dangerous.” Google dismissed the claims as “factually wrong,” saying the G Suite for Education package allows schools to control account access and requires that schools obtain parental consent when necessary. “We do not use personal information from users in primary and secondary schools to target ads,” said company spokesman Jose Castaneda. “School districts can decide how best to use Google for education in their class rooms and we are committed to partnering with them.” Unlike Europe, the U.S. has no overarching national law governing data collection and privacy. Instead, it has a patchwork of state and federal laws that protect specific types of data, such as consumer health, financial information and the personal data generated by younger children. New Mexico’s claim cites violations of the state’s Unfair Practices Act and the federal Children’s Online Privacy Protection Act, which requires websites and online services to obtain parental consent before collecting any information from children under 13. In a separate case, Google already has agreed to pay $170 million combined to the Federal Trade Commission and New York state to settle allegations its YouTube video service collected personal data on children without their parents’ consent. According to the New Mexico lawsuit, outside its Google Education platform, the company prohibits children in the U.S. under the age of 13 from having their own Google accounts. The state contends Google is attempting to get around this by using its education services to “secretly gain access to troves of information” about New Mexico children. The attorney general’s office filed a simi lar lawsuit against Google and other tech companies in 2018, targeting what Balderas described as illegal data collection from child-directed mobile apps. That case still is pending in federal court, but the companies have denied wrongdoing. The latest lawsuit claims more than 80 mil lion teachers and students use Google’s edu cation platform. Balderas said in a letter to New Mexico school officials that there was no immediate harm if they continue using the products and that the lawsuit shouldn’t inter rupt activities in the classroom. NEW YORK — Victoria’s Secret, which once defined sexy with its leggy supermodels in their lacy bras and over sized angel wings, has a new owner. Now, the big question is whether the once sought after but now struggling brand can be reinvented for a new gen eration of women demanding more com fortable styles. The company’s owner, L Brands, said Thursday that the private-equity firm Sycamore Partners will buy 55% of Vic toria’s Secret for about $525 million. The Columbus, Ohio, company will keep the remaining 45% stake. After the sale, L Brands will be left with its Bath & Body Works chain and Victoria’s Secret will become a private company. Les Wexner, 82, who founded the par ent company in 1963, will step down as chairman and CEO after the transac tion is completed and become chairman emeritus. Wexner has been grappling with his own troubles, including questions over his ties to the late financier Jeffrey Epstein, who was indicted on sex-traffick ing charges. The selling price for Victoria’s Secret signifies a marked decline for a brand with hundreds of stores that booked about $7 billion in revenue last year. Shares of L Brands slid more than 7% Thursday though they recovered somewhat by late afternoon. Shares were down nearly 4%, or 88 cents, to close at $23.42. In a statement, Wexner said the deal will provide the best path to restoring Vic toria’s Secret’s businesses to their ‘’his torical levels of profitability and growth.” The deal will also allow the company to CALHOUN — A flooring manufacturer plans an expansion in northwest Georgia that the governor says will create 268 jobs. An increase in demand for luxury vinyl flooring led Mannington Mills, Inc., to buy a 10.5-acre (4ha 2491) site for its third expansion in two years in Calhoun, Gov. Brian Kemp’s office said in a news release Thursday. The company, a lead- reduce debt and Sycamore will bring a “fresh perspective and greater focus to the business," he said. To successfully turn around Victoria’s Secret, Sycamore will need to change up the corporate culture, reinvent the fashions and redesign the stores to make them more contemporary, experts say. Sycamore manages a $10 billion portfo lio including such struggling retailers as Belk, Hot Topic and Talbots. The management team at Victoria’s Secret essentially was designing what men want, not what women want, said Neil Saunders, managing director of Glo- balData Retail. “The brand is very embedded in the past,” said Saunders. “It was always about men feeling good. It should be about mak ing women feel good about themselves.” Victoria’s Secret had a long unpar alleled run of success. The brand was founded by the late Roy Larson Raymond in the late 1970s after he felt embarrassed about purchasing lingerie for his wife. Wexner, the founder of the then Limited Stores Inc., purchased Victoria’s Secret in 1982 and turned it into a powerful retail force. By the mid-1990s, Victoria’s Secret lit up runways and later filled the internet with its supermodels and an annual tele vision special that mixed fashion, beauty and music. That glamour has faded and so have sales in the last few years. The show was canceled last year, and shares of Victoria Secret’s parent have gone from triple dig its less than five years ago to a quarter of that today. Victoria’s Secret struggled to keep up with competition and failed to respond to changing tastes among women who want more comfortable styles. Rivals like Adore Me and ThirdLove, which have ing manufacturer of residential and commercial flooring, has had facilities in Georgia for more than 50 years, the release says. “Acquisition of this site is part of Mannington’s long-term growth invest ment plan for the Northwest Georgia area, and we were pleased to once again work with the Georgia Depart ment of Economic Development on the sprouted up online and marketed them selves heavily on social media platforms like Instagram, have focused on fit and comfort while offering more options for different body types. Meanwhile, Ameri can Eagle’s Aerie lingerie chain, which partners with women activists like Manu- ela Baron, has also lured customers away from Victoria’s Secret. And in the era of the #MeToo move ment, women are looking for brands that focus on positive reinforcement of their bodies. “Victoria’s Secret will need to empower women, not make them spec tacles,” said Jon Reily, senior vice president and global head of commerce strategy at digital consultancy Isobar. Stacey Widlitz, president of SW Retail Advisors, a retail consultancy, said that Victoria’s Secret designs in the last few years were going in the opposite direction of what women wanted, ever sexier and poorer quality. And while last year Victoria’s Secret started featuring more diverse models, including its first openly transgender model, the moves fell short. Victoria’s Secret suffered a 12% drop in same-store sales during the most recent holiday season. L Brands said Thursday that same-store sales declined 10% at Victoria’s Secret during the fourth quar ter. Bath & Body Works, which has been a bright spot, enjoyed a 10% increase. The skincare chain represents more than 80% of L Brands’ operating profit. “The (Victoria’s Secret) brand has lost its way, while the lingerie market is not large or high growth, and has become commoditized,” Randal Konik, an analyst at Jefferies, wrote Thursday. “Further more, with athleisure taking over, the need for regular bras continues to wane.” project,” Russell Grizzle, president and CEO of Mannington Mills, said in the release. Georgia was the top state for floor cov ering products in 2019, with a total export value of $485.4 million, the release says. Most of the state’s floor covering manu facturers are located in its northwest corner. Associated Press Flooring company plans expansion, 268 jobs in Calhoun Stock Exchange Highlights 1 NYSE 14,061.48 -25.65 B Nasdaq V 9,750.96 -66.22 Gainers ($2 OR MORE) Name Last Chg %Chg BlueLinx CmtyHIt Nautilus Dominos LumberLiq Tenneco NL Inds Intelsat Qudian GasLogPt 19.50 +5.64 +40.7 6.72 +1.91 +39.7 3.84 +.91 +31.1 373.16 +76.06 +25.6 9.69 +1.52 +18.6 +1.60 +17.3 +.54 +16.1 +.53 +13.2 +.27 +11.3 +.36 +8.9 10.87 3.90 4.54 2.66 4.40 Losers (S2 Name Last OR MORE) Chg %Chg Mednax 20.96 Aarons 45.45 FangHIdrs 2.21 SixFIags 31.89 BlueAprrs 3.10 Invitae 23.82 Valmont 134.68 WarrMet CarrSrv Acornlnt 17.71 22.20 14.55 -5.63 -21.2 -10.70 -19.1 -.47 -17.5 -6.13 -16.1 -.50 -13.9 -3.68 -13.4 -19.53 -12.7 -2.47 -12.2 -2.80 -11.2 -1.76 -10.8 Most Active ($1 OR MORE) Name Vol (00) Last Chg VirgnGal Sprint MorgStan FordM BkofAm Pfizer GenElec AuroraC Yamana g L Brands 1349447 607374 585118 522946 425650 407413 395334 355851 346774 332725 37.26 -.09 9.48 -.01 53.75 -2.56 8.03 +.03 34.85 +.13 35.85 -.38 12.53 1.68 -.08 -.03 4.43 +.01 23.42 -.88 Diary Advanced Declined Unchanged Total issues New Highs New Lows Volume 1,603 1,040 91 2,734 220 58 3,820,896,200 Gainers ($2 OR MORE) Name Last Chg %Chg BricklIBi rs 3.06 +1.24 +68.1 Stamps.cml 57.99 +62.53 +65.5 AdestoTc 12.35 +4.36 +54.6 TSRh 6.00 +1.90 +46.4 AscenaR rs 6.11 +1.84 +43.1 Schrodin n 47.62 +11.90 +33.3 BioanlySys 5.71 +1.40 +32.5 CanGen hrs 5.44 +1.22 +28.9 ConsolCom 6.97 +1.45 +26.3 Morphicn 17.03 +3.08 +22.1 Losers ($2 Name Last OR MORE) Chg %Chg TivityHIth 12.50 CBS B 29.29 BioXcelT 34.20 Cellectar 2.29 CBS A 33.70 DiscIncB 34.37 OraSure 6.13 Agenus 3.79 CommScpe 12.59 AtlanAmer 2.25 ■10.43 -45.5 -6.38 -17.9 -6.94 -16.9 -.40 -14.9 -5.79 -14.7 -5.63 -14.1 -.99 -13.9 -.60 -13.7 -1.90 -13.1 -.32 -12.5 Most Active ($1 0R more) ' Vol (00) Last Chg Name AMD 739478 57.27 -1.63 PlugPowr h 697337 5.51 -.21 CBS B 443342 29.29 -6.38 E-Trade 423546 54.73 +9.80 Groupon 402372 1.70 Microsoft 367314 184.42 -2.86 BricklIBi rs 328958 3.06 +1.24 FuelCell rs 295241 2.61 -.18 Intel 264303 65.45 -1.66 Apple Inc 250329 320.30 -3.32 Diary Advanced Declined Unchanged Total issues New Highs New Lows Volume 1,608 1,350 171 3,129 198 50 2,645,348,473 Stocks of Local Interest Name Ex Div Yld PE Last YTD Chg %Chg AFLAC 1.12 2.2 16 5149 -.06 -2.7 HomeDp 5.44 2.2 25 247.02 +3.38 +13.1 AT&T Inc 2.08 5.4 17 38.61 +.17 -1.2 Intel 1.32 2.0 22 65.45 -1.66 +9.4 AbbottLab 1.44 1.6 47 88 46 -.90 +1.8 IBM 6.48 4.3 16 151.22 +.36 +12.8 AMD 57.27 -1.63 +24.9 JohnJn 3.80 2.6 25 148.37 -.57 +1.7 Altria 3.36 7.4 14 45.56 +42 -8.7 L Brands 1.20 5.1 9 23.42 -.88 +29.2 Apple Inc 3.08 1.0 29 320.30 -3.32 +9.1 Lowes 2.20 1.7 28 126.57 +3.13 +5.7 ATMOS 2.30 1.9 22 119.23 -.37 +6.6 McDnlds 5.00 2.3 33 215.08 -.55 +8.8 AuroraC 1.68 -.03 -22.2 Merck 2.44 3.0 31 82.49 +.49 -9.3 AutoZone 191082.52+15.73 -9.1 Microsoft 2.04 1.1 36 184.42 -2.86 +16.9 AveryD 2.32 1.7 39 136.77 +4.5 MorgStan 1.40 2.6 11 53.75 -2.56 +5.1 BP PLC 246 6.8 10 35.98 -.27 -4.7 NorflkSo 3.76 1.8 22 210.81 +1.64 +8.6 BkofAm .72 2.1 12 34.85 +.13 -1.1 OfficeDpt .10 3.7 8 2.68 +.18 -2.2 Boeing 8.22 2.4 31 336.28 -2.02 +3.2 Penney .77 +.06 -31.3 BricklIBi rs 3.06 +1.24 +104.0 PepsiCo 3.82 2.6 16 145.16 -.37 +6.2 BrMySq 1.80 2.8 22 65.17 -.54 +1.5 Pfizer 1.52 4.2 14 35.85 -.38 -8.5 CSX 1.04 1.3 19 80.45 +.28 +11.2 PhilipMor 4.68 5.4 18 87.44 -.44 +2.8 CampSp 140 2.9 17 47.74 -.05 -34 PlugPowr h 5.51 -.21 +74.4 Caterpillar 4.12 3.0 12 136.93 +.07 -7.3 Primerica 1.60 1.2 17 136.40 +.71 +4.5 ChesEng 1 48 -42.0 ProctGam 2.98 2.4 29 126.58 +1.14 +1.3 Chevron 5.16 4.7 15 109.81 -.93 -8.9 RegionsFn .62 3.7 12 16.54 +.11 -3.6 Cisco 1.44 3.1 19 46.85 +.56 -1.6 Snaplnc A 16.92 -.28 +3.6 Citigroup 2.04 2.6 11 78.22 +.17 -2.1 SouthnCo 2.48 3.6 33 69.81 +1.20 +9.6 ClevCIiffs .24 3.3 2 7.19 -.41 -13.8 Sprint 5 9.48 -.01 +82.0 CocaCola 1.64 2.7 36 59.72 -.05 +7.9 SynovusFn 1.20 3.3 10 36.25 +.12 -7.5 ConAgra .85 2.8 20 29.88 +.08 -12.7 3M Co 5.88 3.7 22 158.56 -.78 -10.1 Cummins 5.24 3.1 47 167.12 +.59 -6.6 ToughBIt .20 +.05 +2.0 Disney 1.76 1.3 19 140.37 -.93 -2.9 TruistFn 1.80 3.3 14 55.31 +.70 -1.8 Dupont rs 1.20 2.3 6 52.55 -.95 -18.1 Tyson 1.68 2.1 14 78.80 +.97 -13.4 E-Trade .56 1.0 18 54.73 +9.80 +20.6 Uber Tch n 40.92 -.13 +37.6 EgyTrnsfr 1.22 9.7 15 12.54 -.14 -2.3 UtdCmBks .72 2.4 17 29.50 +.86 -4.5 Equifax 1.56 1.0 28 16143 -45 +15.2 UPS B 4.04 3.8 18 106.48 -.28 -9.0 ExxonMbl 348 5.8 14 59.86 -48 -14.2 VerizonCm 2.46 4.2 15 58.09 -.13 -5.4 FordM .60 7.5 6 8.03 +.03 -13.7 CBS B .96 3.3 7 29.29 -6.38 -30.2 FuelCell rs 2.61 -.18 +4.0 VirgnGal 37.26 -.09 +222.6 GenElec .04 .3 12.53 -.08 +12.3 Vodafone .96 4.8 20.00 -.04 +3.5 GenuPrt 3.16 3.2 18 99.61 +.26 -6.2 WalMart 2.16 1.8 68 117.69 +.01 -1.0 GlbeLife .69 .6 9 111.16 +.59 +5.8 WeisMk 1.24 3.3 9 37.83 +.61 -6.6 Groupon 1.70 -28.9 WellsFargo 2.04 4.3 10 47.34 +.25 -12.0 HP Inc .70 3.1 7 22.64 +.21 +10.2 Yamana g .05 1.1 4.43 +.01 +12.2 Haverty .80 4.7 18 17.09 -.08 -15.2 YumBrnds 1.88 1.8 37 103.87 -1.32 +3.1 Hershey 3.09 1.9 35 160.11 +.39 +8.9 Zomedica .32 +.08 -3.3 Name Ex Div Yld PE Last YTD Chg %Chg Stock Footnotes: g = Dividends and earnings in Canadian dollars, h = Does not meet continued-listing standards. If = Late filing with SEC. n = New in past 52 weeks, pf = Preferred, rs = Stock has undergone a reverse stock split of at least 50 percent within the past year, rt = Right to buy security at a specified price, s = Stock has split by at least 20 percent within the last year, un = Units, vj = In bankruptcy or receivership, wd = When distributed, wi = When issued, wt = Warrants. Fund Footnotes: m - Multiple fees are charged, usually a marketing fee and either a sales or redemption fee. Source: The Associated Press. Sales figures are unofficial. Stock Market Indexes Dow Jones industrials Close: 29,219.98 Change:-128.05 (-0.4%) 29,600 29,260' 28,920 10 DAYS A S O N D J F 52-Week Net YTD 12-mo High Low Name Last Chg %Chg %Chg %Chg 29,568.57 24,680.57 Dow Industrials 29,219.98 -128.05 -.44 +2.39 +13.03 11,359.49 9,676.06 Dow Transportation 11,032.96 +89.72 +.82 +1.21 +3.77 963.80 736.58 Dow Utilities 952.40 +2.39 +.25 +8.33 +26.83 14,183.26 12,238.40 NYSE Composite 14,061.48 -25.65 -.18 +1.07 +11.41 9,838.37 7,292.21 Nasdaq Composite 9,750.96 -66.22 -.67 +8.67 +30.72 1,522.26 1,199.74 S&P 100 1,511.27 -7.67 -.51 +4.79 +24.14 3,393.52 2,722.27 S&P 500 3,373.23 -12.92 -.38 +4.41 +21.56 2,106.30 1,802.58 S&P MidCap 2,106.12 +7.55 +.36 +2.09 +9.79 34,616.78 28,107.06 Wilshire 5000 34,434.66 -99.28 -.29 +4.71 +19.57 1,715.08 1,450.32 Russell 2000 1,696.07 +3.50 +.21 +1.65 +7.65 Mutual Funds Total Assets Total Return/Rank Pet Min Init Name Obj (SMIns) NAV 4-wk 12-mo 5-year Load Invt Vanguard 500ldxAdmrl LB 319,196 312.09 +1.5 +23.5/A +12.1/A NL 3,000 Vanguard TtlSMIdxAdmrl LB 251,491 83.56 +1.7+22.1/C +11.6/B NL 3,000 Fidelity 500ldxlnsPrm LB 236,283 117.27 +1.5 +23.5/A +12.1/A NL 0 Vanguard TtlSMIdxIns LB 154,922 83.57 +1.7+22.1/C +11.6/A NL 5,000,000 Vanguard TtlnSIdxinv FB 153,621 17.61 -3.1 +9.6/D +4.4/B NL 0 Vanguard TtlSMIdxInv LB 139,212 83.52 +1.7+22.0/C +11.5/B NL 3,000 Vanguard InsidxInsPlus LB 125,310 303.84 +1.5 +23.5/A +12.1/A NL 100,000,000 Vanguard TtlnSIdxinsPlus FB 120,120 117.85 -3.0 +9.7/C +4.5/B NL 100,000,000 Vanguard Insldxlns LB 114,787 303.81 +1.5 +23.5/A +12.1/A NL 5,000,000 Vanguard TtBMIdxAdmrl Cl 110,568 11.27 +1.7 +10.0/B +3.4/B NL 3,000 Fidelity Contrafund LG 98,204 14.77 +3.3+26.1/C +14.0/B NL 0 Vanguard WlngtnAdmrl MA 95,354 76.91 +0.7+17.6/A +8.9/A NL 50,000 Cl -Intermediate-Term Bond, FB -Foreign Large Blend, IH -World Allocation, LB -Large Blend, LG -Large Growth, LV -Large Value, MA -Moderate Allocation, WS -World Stock, Total Return: Chng in NAV with dividends reinvest ed. Rank: How fund performed vs. others with same objective: A is in top 20%, E in bottom 20%. Min Init Invt: Minimum $ needed to invest in fund. Source: Morningstar.
