【roksa the warped】Lamorne Morris To Play Young Garrett Morris In ‘SNL 1975’ Origin Film
Lamorne Morris roksa the warpedis set to play a young Garrett Morris in
Saturday Night Live
origin film,
SNL 1975.
Deadline
reported that the film will be made by Sony Pictures and directed by Jason Reitman.
SNL 197
5 will also star Dylan O’Brien as Dan Aykroyd
,
Michael Smith as Chevy Chase, and Matt Wood as John Belushi.
The Hollywood Reporter
also listed
accompanying cast members
for the film. Supplemental cast members include Emily Fairn as Laraine Newman, Cooper Hoffman as ex-NBC executive Dick Ebersol, Ella Hunt as Gilda Radner, Gabriel LaBelle portraying
SNL
creator Lorne Michaels, Rachel Sennot starring as Michaels’ ex-wife, Rosie Shuster, and Kim Matula portraying Jane Curtin.
Reitman and Gil Kenan will handle writing the movie’s screenplay, using interviews conducted with the remaining living cast members of the 1975 team. Additionally, Reitman, Kenan, Jason Blumenfeld, Erica Mills, and Peter Rice are producing the movie.
The film will
follow the true story
of how
SNL’s
first episode came to be. Sony Pictures’ upcoming flick will uncover the humble beginnings leading up to Oct. 11, 1975—the day when a couple of young comedians would alter the TV landscape. Detailed as a “revolution that almost wasn’t,”
SNL 1975
will take viewers through a journey leading up to the iconic opening phrase, “Live from New York, it’s Saturday Night!”
View this post on Instagram
A post shared by Lamorne Morris (@lamorne)
As for
SNL
2024, the show just entered its 49th season, with its latest episode featuring Dakota Johnson as host and Justin Timberlake
as the musical guest
. Timberlake took a moment to perform his comeback single, “Selfish,” and new gospel-inspired number in “Sanctified.”
Both tracks are set to be included on his forthcoming album,
Everything I Thought It Was
, which will be released on March 15. Timberlake talked to Apple Music’s Zane Lowe about his new album and what fans can expect. He also shared a bit about his perspective
when creating his new LP
.
“It just really feels good— the thoughts and emotions, and feelings that came to me in writing these songs, and the people I collaborated with and got to share these moments with. I feel like I was able, on some of the songs, to look back at the past and have a real, not a refracted, perspective of what it was. There’s never any truth, there’s just everybody’s perspective of what happened, but to really look at it and be able to metabolize and verbalize my perspective on it, I don’t think I’ve ever really done that before.”
More from VIBE.com
Justin Timberlake Debuts 'Sanctified,' New Gospel Collab With Tobe Nwigwe, On 'SNL'
Garrett Morris To Kick Off Black History Month With His Own Walk Of Fame Ceremony
ABFF To Honor Taraji P. Henson, Garrett Morris, Mara Brock Akil, And Jeffrey Wright
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As shown below, the results in the quarter materially changed the trend in two-year stacked comps for each of the banners, along with a significant acceleration for consolidated comps.
The increase in consolidated comps was the primary driver of an 8% increase in revenues to $6.3 billion. The company ended the quarter with 15,370 locations, up less than 1% year-over-year. This reflects a 7% increase in Dollar Tree units, offset by a 4% decline in Family Dollar units.
The top-line results at each banner flowed through to their respective income statements, with Dollar Tree gross margins and operating margins declining year-over-year while Family Dollar gross margins and operating margins expanded year-over-year. On a consolidated basis, gross margins contracted by 120 basis points in the quarter to 28.5%, reflective of a shift to lower-margin consumables, tariff costs and the impact of markdowns from the Easter headwinds at the Dollar Tree banner. The company saw slight operating leverage on SG&A from higher comps, with the net result being an 80 basis point contraction in operating margins to 5.8%, with operating income declining 5% to $366 million. This is not adjusted for $73 million of pandemic-related costs, such as PPE supplies.
In the first quarter, the company opened 85 stores (net of closures) and completed 220 Family Dollar renovations to the H2 format. Importantly, comps at renovated Family Dollar stores continue to outpace the chain average by more than 10%. On the call, management indicated that they plan on reducing both the number of new store openings (from 550 to 500) and the number of H2 renovations (from 1,250 to 750) in 2020.
Personally, given the fact that Family Dollar is seeing material benefits to its business from the pandemic with new or lapsed customers coming into its stores, I think the company should try to get more aggressive with its renovation plans, not less. On the other hand, you could argue that renovations cause short-term disruptions and limit their ability to fully capitalize on the business momentum they are currently experiencing.
As a result of fewer new stores and remodels, management now expects 2020 capital expenditures to total $1.0 billion compared to previous guidance of $1.2 billion. In addition, the company has temporarily suspended share repurchases. At quarter's end, the company had $1.8 billion in cash on its balance sheet compared to $4.3 billion in total debt.
Conclusion
In recent years, Dollar Tree has been a tale of two cities. While its namesake banner has generally delivered impressive financial results, Family Dollar has been a persistent underperformer. This quarter, those results flipped, and given what we've seen in the weeks since quarter's end, there's a decent possibility that we will see something similar in the coming months. As the CEO noted, the second quarter is off to a very good start at Family Dollar.
Here's the important question: how useful is that information is in terms of making future predictions about the business? Will recent success at Family Dollar translate into long-term success for the banner? The optimistic take is that new or lapsed customers, especially those visiting the renovated stores, could become recurring business for the banner. The pessimistic take is that they have experienced short-term success out of necessity as people went to any store that was open to try and find essentials like toilet paper and hand sanitizer that were largely out of stock throughout the retail landscape. From that view, many of these customers could abandon the retailer when life returns to normal. As Philbin noted on the conference call, early on [during the pandemic], folks needed us. Will people still shop as much at Family Dollar when it's no longer a necessity?
Personally, I do not place too much weight on the recent results. I will need to see incremental data points that indicate that Family Dollar has truly won sustained business from these new customers. While I still believe that the Dollar Tree banner is a well-positioned retailer with attractive unit returns, I'm not yet willing to say the same thing for Family Dollar. For that reason, along with the recent run-up in the stock price, I plan on staying on the sidelines for now.
Disclosure: None
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