Business
Clicks Group Limited (CLCGY) Q2 2026 Earnings Call Transcript
Bertina Engelbrecht
CEO & Executive Director
Good afternoon. Thank you for joining the webcast of our Interim Results for the 6 months ended 28th February 2026. I’m Bertina Engelbrecht, Chief Executive Officer of the Clicks Group. I am joined by Gordon Traill, our Chief Financial Officer, who is in a completely different time zone. Gordon and I will take you through the presentation of our interim results, and we’ll respond to any questions you may have after the conclusion of our presentation.
This slide sets out the outline of our presentation. I will, as usual, kick off with a review of our performance of the past 6 months. Gordon will then present an overview of the financial results. I will walk you through the trading performances of our operating business units, starting with Clicks, followed by UPD. And I will then close with the outlook for the group.
Please feel free to submit any questions you may have via the webcast platform during or after the conclusion of our presentation. Sue Hemp will read out your questions to which Gordon and I will respond.
I will now take you through the review of the period. It has been a tough 6 months. Despite some interest rate relief and signs of a slow recovery in the economic environment, trading conditions remain constrained, especially for middle-income households. Competition intensified as new players entered the market. Traditional players extended into health and beauty categories, giving rise to heightened levels of promotions aimed at capturing a greater share of the consumer’s wallet.
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Clearway Energy Stock: A Yieldco Positioned For The Next Energy Demand Cycle (NYSE:CWEN)
Equity investor with focus on long term and medium term value. Focuses on companies with good fundamentals with a long haul for investing and sector agnostic. Have passed CFA Level 1. Looking forward to building a base as an independent blogger on equity research reports.
Analyst’s Disclosure: I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.
Seeking Alpha’s Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.
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S&P 500, Nasdaq close at records on tech lift, Iran peace talk hopes
“The Iran thing feels kind of tenuous, we’ve had a lot of back and forth. I assume that will continue, but for now, some rays of sunlight,” said Jed Ellerbroek, portfolio manager at Argent Capital Management in St. Louis, Missouri.
The Dow Jones Industrial Average fell 79.61 points, or 0.16%, to 49,230.71, the S&P 500 gained 56.68 points, or 0.80%, to 7,165.08 and the Nasdaq Composite gained 398.09 points, or 1.63%, to 24,836.60.
For the week, the S&P 500 gained 0.55%, the Nasdaq rose 1.5%, and the Dow fell 0.44%.
Semiconductors, one of the market’s strongest performers on the year, continued to rally. The Philadelphia SE Semiconductor Index advanced 4.32% to extend its record run of gains to 18 consecutive sessions. Intel surged 23.65% to close at a record $82.57 and was the best performer on the benchmark S&P index, following a better-than-expected revenue forecast for the second quarter.
“All the doubts and fears about the (return on investment) on the AI CapEx from the big tech companies – Amazon and Google and Microsoft and Meta – those concerns are fading real fast, and that’s propelling the chip stocks and the contractors and all the industrial companies,” said Ellerbroek.
Fellow chipmakers AMD and Arm both shot higher by about 14%. Megacap Nvidia climbed 4.32% and also closed at a record as it neared the $5 trillion market valuation again. The S&P 500 technology index rose 2.46% and was the best-performing of the 11 major S&P sectors. Tech stocks also managed to shrug off DeepSeek’s preview of its highly awaited new model. The S&P 500 and the Nasdaq recorded a fourth consecutive week of gains, their longest streak since the fourth quarter of 2024. The Dow, however, snapped a three-week run higher.
FED MEETING AWAITED
Attention is also shifting to the Federal Reserve meeting next week, which will be scrutinized for clues on rate cuts and the central bank’s leadership succession. The U.S. Justice Department is closing its investigation into Fed Chair Jerome Powell, clearing an obstacle to the confirmation of Kevin Warsh, Trump’s pick to lead the central bank. Markets were pricing in a roughly 39% chance for a cut of at least 25 basis points at the Fed’s December meeting, according to CME’s FedWatch Tool, up from about 23% in the prior session.
A strong start to earnings season has helped buttress stocks against volatile Iran news. Earnings growth expectations for the first quarter now stand at 16.1%, according to LSEG data, up from 14.4% at the start of April.
Advancing issues outnumbered decliners by a 1.47-to-1 ratio on the NYSE and by a 1.38-to-1 ratio on the Nasdaq.
The S&P 500 posted 34 new 52-week highs and 8 new lows while the Nasdaq Composite recorded 126 new highs and 90 new lows.
Volume on U.S. exchanges was 17.81 billion shares, compared with the 18.39 billion average for the full session over the last 20 trading days.
Business
Search Hits Day 85 With DNA Testing and New Leads
TUCSON, Ariz. — The search for 84-year-old Nancy Guthrie entered its 85th day Saturday with authorities confirming ongoing FBI DNA analysis from her Catalina Foothills home and several new leads under review, though no arrests have been made in the high-profile abduction of the mother of NBC “Today” co-anchor Savannah Guthrie.

Nancy Guthrie was last seen at her Tucson-area residence on the evening of Jan. 31, 2026. She was reported missing the next morning after failing to attend church services. Investigators discovered signs of a struggle, including drops of blood on the front porch, and surveillance footage showed a masked, armed figure approaching the home around the time her pacemaker lost signal, suggesting she was taken by force.
Pima County Sheriff Chris Nanos and the FBI continue to lead a multi-agency task force. On Friday, officials confirmed that additional DNA samples collected from the home — including hair and potential mixed profiles — are undergoing advanced forensic testing at an FBI laboratory. Results from some samples are expected in the coming weeks, though authorities cautioned that the process remains ongoing and has not yet yielded a suspect.
Anonymous letters sent to media outlets, including TMZ, continue to complicate the investigation. The source, who previously claimed to have seen Nancy alive with kidnappers in Sonora, Mexico, has sent follow-up communications. Law enforcement has not validated the credibility of these letters and continues to treat them with skepticism while pursuing all tips.
The family offered a $1 million reward in late February for information leading to Nancy’s safe return. Additional incentives, including $100,000 from Crime Stoppers, remain active. Savannah Guthrie returned to the “Today” show earlier this month and delivered an emotional update, pleading for the public’s help while expressing continued hope. The family has largely avoided further public comment as the investigation advances.
Criminal profilers suggest the abduction may involve a targeted motive or a botched ransom scheme rather than a random act. The masked suspect’s preparation and apparent surveillance countermeasures point to planning. Nancy’s age and health conditions add urgency, though authorities have not publicly commented on her current status or condition.
The case has drawn intense national scrutiny, turning the quiet Tucson suburb into a media focal point. Door-to-door canvassing, aerial searches and cross-border coordination with Mexican authorities have generated thousands of tips, yet no confirmed sightings or secondary location have emerged. Polygraph tests, digital forensics and financial tracking continue behind the scenes.
As the symbolic 100-day mark approaches in mid-May, emotional weight builds for the family and community. Statistically, recovery chances decrease significantly over time in stranger abductions, yet high-visibility cases with sustained resources occasionally defy odds. Vigils, billboards and social media campaigns keep Nancy’s image prominent.
Nancy Guthrie lived a private life in retirement, active in her church and devoted to family. Her husband Charles died decades ago. Beyond Savannah, she has other children who have remained largely out of the spotlight. Friends describe her as warm and faithful, making her sudden disappearance from a seemingly secure neighborhood all the more shocking.
Broader questions linger about motive and execution. Some investigators continue to explore possible connections to Savannah’s public profile, though no direct evidence supports targeting due to fame. Bitcoin wallet activity linked to early ransom notes shows minimal movement, with the FBI viewing tracing efforts as a promising avenue.
Community frustration has grown alongside speculation. False reports of Nancy being located or suspects detained continue to surface, prompting officials to urge reliance on verified law enforcement channels. The desert terrain and proximity to the border complicate physical searches.
Experts predict the case could hinge on advanced genetic genealogy, continued digital analysis or a tip generated by the substantial rewards. The task force reviews old leads with fresh eyes while pursuing new ones. Savannah and her siblings maintain hope while preparing for a potentially prolonged wait, emphasizing Nancy’s humanity beyond the headlines.
As Saturday unfolded with no resolution, the desert sun cast long shadows over the Catalina Foothills. The search for Nancy Guthrie remains one of 2026’s most haunting mysteries — a stark reminder of vulnerability even in affluent neighborhoods. Authorities vow to continue until answers emerge, sustained by a family’s quiet determination and a community’s collective concern.
Public tips are still encouraged through FBI and Pima County channels. Even small details from late January or early February could prove decisive. While the calendar advances, hope persists that Nancy will be found and the family granted closure in a case that has TUCSON, Ariz. — The search for 84-year-old Nancy Guthrie entered its 85th day Saturday with authorities confirming ongoing FBI DNA analysis from her Catalina Foothills home and several new leads under review, though no arrests have been made in the high-profile abduction of the mother of NBC “Today” co-anchor Savannah Guthrie.
Nancy Guthrie was last seen at her Tucson-area residence on the evening of Jan. 31, 2026. She was reported missing the next morning after failing to attend church services. Investigators discovered signs of a struggle, including drops of blood on the front porch, and surveillance footage showed a masked, armed figure approaching the home around the time her pacemaker lost signal, suggesting she was taken by force.
Pima County Sheriff Chris Nanos and the FBI continue to lead a multi-agency task force. On Friday, officials confirmed that additional DNA samples collected from the home — including hair and potential mixed profiles — are undergoing advanced forensic testing at an FBI laboratory. Results from some samples are expected in the coming weeks, though authorities cautioned that the process remains ongoing and has not yet yielded a suspect.
Anonymous letters sent to media outlets, including TMZ, continue to complicate the investigation. The source, who previously claimed to have seen Nancy alive with kidnappers in Sonora, Mexico, has sent follow-up communications. Law enforcement has not validated the credibility of these letters and continues to treat them with skepticism while pursuing all tips.
The family offered a $1 million reward in late February for information leading to Nancy’s safe return. Additional incentives, including $100,000 from Crime Stoppers, remain active. Savannah Guthrie returned to the “Today” show earlier this month and delivered an emotional update, pleading for the public’s help while expressing continued hope. The family has largely avoided further public comment as the investigation advances.
Criminal profilers suggest the abduction may involve a targeted motive or a botched ransom scheme rather than a random act. The masked suspect’s preparation and apparent surveillance countermeasures point to planning. Nancy’s age and health conditions add urgency, though authorities have not publicly commented on her current status or condition.
The case has drawn intense national scrutiny, turning the quiet Tucson suburb into a media focal point. Door-to-door canvassing, aerial searches and cross-border coordination with Mexican authorities have generated thousands of tips, yet no confirmed sightings or secondary location have emerged. Polygraph tests, digital forensics and financial tracking continue behind the scenes.
As the symbolic 100-day mark approaches in mid-May, emotional weight builds for the family and community. Statistically, recovery chances decrease significantly over time in stranger abductions, yet high-visibility cases with sustained resources occasionally defy odds. Vigils, billboards and social media campaigns keep Nancy’s image prominent.
Nancy Guthrie lived a private life in retirement, active in her church and devoted to family. Her husband Charles died decades ago. Beyond Savannah, she has other children who have remained largely out of the spotlight. Friends describe her as warm and faithful, making her sudden disappearance from a seemingly secure neighborhood all the more shocking.
Broader questions linger about motive and execution. Some investigators continue to explore possible connections to Savannah’s public profile, though no direct evidence supports targeting due to fame. Bitcoin wallet activity linked to early ransom notes shows minimal movement, with the FBI viewing tracing efforts as a promising avenue.
Community frustration has grown alongside speculation. False reports of Nancy being located or suspects detained continue to surface, prompting officials to urge reliance on verified law enforcement channels. The desert terrain and proximity to the border complicate physical searches.
Experts predict the case could hinge on advanced genetic genealogy, continued digital analysis or a tip generated by the substantial rewards. The task force reviews old leads with fresh eyes while pursuing new ones. Savannah and her siblings maintain hope while preparing for a potentially prolonged wait, emphasizing Nancy’s humanity beyond the headlines.
As Saturday unfolded with no resolution, the desert sun cast long shadows over the Catalina Foothills. The search for Nancy Guthrie remains one of 2026’s most haunting mysteries — a stark reminder of vulnerability even in affluent neighborhoods. Authorities vow to continue until answers emerge, sustained by a family’s quiet determination and a community’s collective concern.
Public tips are still encouraged through FBI and Pima County channels. Even small details from late January or early February could prove decisive. While the calendar advances, hope persists that Nancy will be found and the family granted closure in a case that has gripped the nation.
(Word count: 1,009)
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Global Markets | European equities log steep weekly losses with no resolution to MidEast conflict
European equities outperformed U.S. markets at the start of the year but have lagged during the war on concerns over the continent’s vulnerability to higher energy prices. “We still see opportunities in sectors that are less sensitive to higher energy prices, such as health care, and in areas supported by secular trends, such as industrials,” said Mark Haefele, chief investment officer at UBS Global Wealth Management, adding that he did not expect higher energy prices to trigger a recession.
Most sectors traded in the red, with aerospace and defence leading declines with a 3.2% fall. Technology stocks, however, gained 1.5%, helped by a 4.7% jump in SAP shares after the German software maker beat first-quarter profit estimates on strong growth in its cloud business. Chip stocks advanced with BE Semiconductor Industries up 4.3%, a day after reporting strong order intake and guidance. ASML and ASMI added about 2% each.
Healthcare shares and financials lost 1.7% and 1%, respectively.
Novo Nordisk bucked the trend, adding 5.4% after rival Eli Lilly’s obesity pill trailed prescriptions to Novo’s oral Wegovy.
Among other movers, Tomra tumbled 24% after the Norwegian recycling technology provider missed first-quarter revenue and profit estimates. Swedish technology and industrial group Indutrade fell 15% after reporting first-quarter net sales below analyst expectations. Iran’s Foreign Minister Abbas Araqchi is expected to travel to Pakistan’s capital Islamabad to discuss proposals for restarting peace talks with the United States, Pakistani government sources said.
Benchmark Brent crude oil futures held above $100 a barrel .
German business sentiment deteriorated more than expected in April as the Iran war threatens the recovery of Europe’s biggest economy. The European Central Bank meets next week with markets pricing in a 76% chance that policymakers will leave rates unchanged, according to LSEG data. However, traders still expect rate hikes later this year if energy disruptions persist. “With the ECB’s focus on inflation expectations and fears that war-related effects could push companies to pass on costs, we’re likely to see the ECB eventually still wanting to raise rates, which we think they’ll then have to roll back in 2027,” said Luca Bindelli, head of investment strategy at Lombard Odier.
Business
Easter Themes and Rock Legends Puzzle #1049 Delights Solvers
NEW YORK — The New York Times Connections puzzle for Saturday, April 25, 2026, delivered a festive and cleverly layered challenge as puzzle #1049 blended Easter holiday traditions with classic rock music, leaving many players smiling at the satisfying “aha” moments once the categories clicked into place.
The 16-word grid featured an ideal mix of accessible and thoughtful connections that celebrated springtime and musical icons. Players who spotted the holiday theme early gained momentum, while the purple group’s clever wordplay provided the final satisfying twist for rainbow solvers.
Yellow Category (Easiest): Easter Symbols BASKET, BUNNY, CHICK, EGG This straightforward holiday-themed group rewarded players who immediately recognized classic Easter imagery. Many solvers started here, using familiar seasonal associations to secure an early win and build confidence for the remaining categories.
Green Category: Classic Rock Bands KISS, QUEEN, RUSH, PINK The music category caught some off guard at first but delighted rock fans once identified. These legendary bands — KISS, Queen, Rush and Pink Floyd (shortened as PINK in the grid) — represented a strong selection of iconic groups that many players connected through musical knowledge.
Blue Category: Types of Lilies CALLA, DAY, PEACE, WATER This botanical group provided an elegant educational twist. Calla lily, daylily, peace lily and water lily offered a beautiful connection that appealed to solvers with gardening knowledge or those who appreciated nature-themed categories.
Purple Category (Hardest): What “Floyd” Might Refer To FLOYD, MAY, PINK, PUPPET The trickiest group played on different meanings and associations with “Floyd.” Pink Floyd (the band), Floyd Mayweather, Pink Floyd’s puppet (from The Wall), and Floyd the barber from The Andy Griffith Show. This clever, multi-layered category generated the most social media discussion and praise for its creativity.
The puzzle’s balance — one very accessible group, two medium challenges, and one brain-teaser — earned strong reviews from the Connections community. Average solve times hovered around 4-5 guesses for experienced players, with the purple group often requiring the final revelation.
Connections, created by Josh Wardle (the same mind behind Wordle), has become a daily staple alongside the crossword and Wordle. The game presents 16 words that must be sorted into four groups of four, each sharing a common theme. Difficulty levels are color-coded: yellow (easiest), green, blue, and purple (most difficult).
Social media buzzed throughout Saturday morning with shared grids and reactions. On X and Reddit’s r/NYTConnections, users posted partial grids, celebrated rainbow solves, and praised the Easter-rock mashup. Hashtags like #Connections and #NYTConnections trended as players compared strategies and starting words.
Strategy tips for this puzzle included scanning for obvious categories first, such as holiday-related words, then looking for music or nature themes. Strong openers often involved grouping high-frequency associations before tackling punny or obscure links. The Easter group served as an ideal entry point for many.
The April 25 puzzle continued a strong week for Connections, following several well-received entries that balanced fun and challenge. NYT editors carefully curate the word list to avoid overly obscure terms while maintaining replay value and educational appeal.
For those who missed today’s solution, the official New York Times Connections Companion page offers post-solve discussion and hints without spoiling future puzzles. The game resets daily at midnight, ensuring fresh challenges for millions of global players.
Connections’ popularity stems from its perfect mix of accessibility and depth. Casual solvers enjoy the dopamine hit of cracking categories, while competitive players track statistics like perfect solves and streak lengths. The shareable grid format turns individual victories into social conversations.
Educational benefits abound. Regular play expands vocabulary, sharpens pattern recognition, and encourages lateral thinking. Teachers have incorporated it into classrooms, and families report solving together as a morning or evening ritual.
Looking ahead, tomorrow’s puzzle promises another engaging round. While specific words remain secret until release, players can expect the usual mix of pop culture, science, wordplay, and everyday objects that has kept Connections thriving since its launch.
Whether you solved #1049 in three guesses or needed every attempt, today’s Easter-to-rock journey exemplified why Connections remains a beloved daily habit. The satisfaction of linking seemingly random words into coherent themes keeps millions returning, one colorful category at a time.
For anyone still stuck or wanting to relive the solve, the categories above provide the complete April 25, 2026, solution. Share your grid, celebrate your rainbow, or commiserate with fellow players — the Connections community thrives on both triumphs and near-misses.
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