Family

Page: 9

Construction worker builds a single family home in San Diego, California
FILE PHOTO: A construction worker builds a single family home in San Diego, California, U.S. February 15, 2017. Picture taken February 15, 2017. REUTERS/Mike Blake

April 19, 2019

WASHINGTON, (Reuters) – U.S. homebuilding dropped to a near two-year low in March, pulled down by persistent weakness in the single-family housing segment, suggesting the housing market continued to struggle despite declining mortgage rates.

Housing starts fell 0.3 percent to a seasonally adjusted annual rate of 1.139 million units last month, the lowest level since May 2017, the Commerce Department said on Friday.

Data for February was revised down to show homebuilding tumbling to a pace of 1.142 million units instead of the previously reported 1.162 million-unit rate.

Building permits fell 1.7 percent to a rate of 1.269 million units in March, the lowest in five months. Building permits have now declined for three straight month. Permits for single-family housing dropped to a more than 1-1/2 year low in March, a bad omen for starts in the coming months.

Economists polled by Reuters had forecast housing starts increasing to a pace of 1.230 million units in March.

The prolonged weakness in homebuilding likely reflects land and labor shortages, as well as expensive building materials.

A survey on Tuesday showed that though builders reported strong demand for new homes, they continued to highlight “affordability concerns stemming from a chronic shortage of construction workers and buildable lots.”

The 30-year fixed mortgage rate has dropped from a peak of about 4.94 percent in November to around 4.12 percent, according to data from mortgage finance agency Freddie Mac. Declining mortgage rates reflect a recent decision by the Federal Reserve to suspend its three-year monetary policy tightening campaign.

The housing market hit a soft patch last year, with investment in homebuilding contracting 0.3 percent, the weakest performance since 2010.

Single-family homebuilding, which accounts for the largest share of the housing market, dropped 0.4 percent to a rate of 785,000 units in March, the lowest level since September 2016.

Single-family homebuilding fell in the South and Midwest, but rose in the Northeast and South. The sharp drop in the Midwest likely reflected flooding in the region.

Permits to build single-family homes dropped 1.1 percent to a rate of 808,000 units in March, the lowest since August 2017. Single-family home building permits have now declined for four straight months.

Starts for the volatile multi-family housing segment were unchanged at a rate of 354,00 units in March. Permits for the construction of multi-family homes dropped 2.7 percent to a pace of 461,00 units last month.

(Reporting By Lucia Mutikani; Editing by Andrea Ricci)

Source: OANN

FILE PHOTO: People wait in line outside the U.S. Supreme Court to hear the orders being issued, in Washington
FILE PHOTO: People wait in line outside the U.S. Supreme Court to hear the orders being issued, in Washington, U.S. March 18, 2019. REUTERS/Erin Scott/File Photo

April 19, 2019

By Andrew Chung

NEW YORK (Reuters) – Sitting on a working-class commercial strip in the shadows of an above-ground rail line, a group called Make the Road New York’s busy street-level offices are easy to miss. But its mission to support and advocate for immigrants is front and center.

A sign on its front door in a heavily Hispanic neighborhood of the borough of Queens warns law enforcement officers not to enter without a warrant. Its colorful lobby is filled with butterfly-shaped placards made for protests against the hardline immigration policies of President Donald Trump, a fellow New Yorker.

Its latest fight is to contest the Trump administration’s contentious plan to add a citizenship question to the 2020 census, which the group has called a “racist attempt to intimidate, undercount immigrants.”

The plan’s legality will be tested on Tuesday in arguments before the U.S. Supreme Court, which has a 5-4 conservative majority.

The nine justices will consider whether Commerce Secretary Wilbur Ross, whose department includes the Census Bureau, violated a federal law called the Administrative Procedure Act and the U.S. Constitution’s mandate to enumerate the nation’s population every 10 years. A ruling is due by the end of June.

On Jan. 15, Manhattan-based U.S. District Judge Jesse Furman ruled against the administration and blocked the use of the question. Two other courts also have blocked the question since then.

The case comes before the court in a pair of lawsuits, one filed by a group of states and localities led by New York state, and the other by immigrant rights groups including Make the Road.

“We have seen a lot of anti-immigrant rhetoric and a lot of attacks on our communities, and this is just another one on a long list,” said Theo Oshiro, Make the Road’s deputy director, who is leading its efforts on the census.

Opponents have called the question a Republican effort to frighten immigrant households and Latinos from participating in the census, leading to a severe and deliberate undercount, diminishing the electoral representation of Democratic-leaning areas in Congress and costing them federal funds. This would benefit Trump’s fellow Republicans and Republican-leaning parts of the country, they said.

The Constitution mandates a census every 10 years. The official population count is used to allocate seats in the U.S. House of Representatives and distribute some $800 billion in federal funds.

The Trump administration said the citizenship question will yield better data to enforce the Voting Rights Act, which protects eligible voters from discrimination. While only U.S. citizens can vote, non-citizens comprise an estimated 7 percent of the population.

A number of key services that Make the Road provides, from adult English language classes to helping people find health insurance, could be put at risk, Oshiro said.

“The impact would be dire,” Oshiro added.

Furman found that Ross concealed his true motives for adding the question. The judge said the evidence showed that Ross and his aides convinced the Justice Department to request a citizenship question, and that he made the decision despite Census Bureau evidence that such a question would lead to lower census response rates and less accurate citizenship data.

The administration appealed the case directly to the Supreme Court, bypassing a federal appeals court, given the need to resolve the matter before census forms are printed in the coming months.

In a brief to the justices, U.S. Solicitor General Noel Francisco, who argues the administration’s position at the Supreme Court, called the plaintiffs’ claims “speculative fears that the government itself will act unlawfully by using answers to the citizenship question for law-enforcement purposes.”

Francisco called the citizenship question “wholly unremarkable” and disputed that it would lead to less accurate data.

Citizenship has not been asked of all households since the 1950 census but has featured since then on questionnaires sent to a smaller subset of the population.

BEEHIVE OF ACTIVITY

On weekday afternoons, Make the Road is a beehive of activity, its clients a mix of citizens and non-citizens. The lobby is packed, with staff providing services such as child care, food assistance and legal advice.

The adult English learners are jammed into a small classroom. When asked about the census, most are hesitant to offer an opinion.

One 36-year-old woman, who works as a house cleaner and gave her name only as Nelly, said people are concerned about the confidentiality of the census and if their information could be used against them or family members. She said she would not fill out the census if the citizenship question were included.

“Census efforts have always been hard in immigrant communities, even without the citizenship question,” Oshiro said. “They are fearful in particular of sharing their information with immigration enforcement agencies, especially with what folks have seen and heard from this administration, the rhetoric around immigration and the ramping up of enforcement.”

Oshiro’s organization has mounted outreach efforts in subways and other places emphasizing the importance of the census to protecting federal funding and ensuring political power.

In the lawsuit spearheaded by New York state, the judge found a “veritable smorgasbord” of violations of the Administrative Procedure Act. The separate suit by the New York Immigration Coalition, Make the Road and other civil rights groups, represented by the American Civil Liberties Union, also claimed that the administration was discriminating against non-white immigrants. The judge said there was no evidence of that.

The Trump administration “does not like a system where everybody is counted in America,” said ACLU attorney Dale Ho, even though that is “the bedrock of our constitutional system.”

A number of Republican state attorneys general, led by Mike Hunter of Oklahoma, backed Trump’s administration, saying more detailed citizenship data could reduce litigation over race-based voting rights claims, adding that immigrants’ fear of the question “is no reason to grind the census to a halt.”

For a graphic on the major Supreme Court cases this term: https://tmsnrt.rs/2V2T0Uf

(Reporting by Andrew Chung; Editing by Will Dunham)

Source: OANN

The death two years ago of James W. McCord, one of President Richard Nixon’s men arrested at the Watergate complex in 1972, was kept entirely out of the press, according to the website Kennedys and King.

McCord died June 15, 2017, but his family wanted to keep it quiet. Filmmaker Shane O’Sullivan first published news of McCord’s death in his book, “Dirty Tricks: Nixon, Watergate, and the CIA,” a history of the Watergate investigation released in November 2018.

The Washington Post said McCord died of pancreatic cancer in Douglassville, Pennsylvania. He was 93.

McCord served in the CIA for 19 years before being privately employed as head of security for the Committee to Reelect the President (CREEP).  

McCord, along with four other burglars, were arrested June 17, 1972 during a break-in at the Democratic National Committee headquarters in the Watergate office complex in Washington, D.C. They were caught wiretapping phones and stealing documents.

Nixon took steps to cover up the crime but was re-elected later that year in a landslide victory. His role was revealed two years later, leading to his resignation, the first of a U.S. president.

McCord was convicted of conspiracy, burglary, and bugging the Democratic Party’s Watergate headquarters.

After 16 days of trial spanning 60 witnesses and more than 100 pieces of evidence, the jury found them guilty of all charges against them in just under 90 minutes.

Source: NewsMax America

G20 leaders summit in Buenos Aires
U.S. President Donald Trump and Japanese Prime Minister Shinzo Abe are seen before a family photo during the G20 summit in Buenos Aires, Argentina November 30, 2018. REUTERS/Marcos Brindicci

April 19, 2019

TOKYO (Reuters) – Japan will invite U.S. President Donald Trump to visit Japan May 25 to 28, its top government spokesman said on Friday.

Trump will meet Japan’s new emperor and empress as well as Prime Minister Shinzo Abe during his visit, Chief Cabinet Secretary Yoshihide Suga told a news conference.

(Reporting by Kaori Kaneko; Editing by Chris Gallagher)

Source: OANN

Patino addresses a news conference about Assange in Quito
FILE PHOTO: Ecuador’s Foreign Minister Ricardo Patino addresses a news conference about WikiLeaks founder Julian Assange in Quito February 5, 2016. REUTERS/Guillermo Granja

April 19, 2019

QUITO (Reuters) – A judge in Ecuador has ordered former foreign minister Ricardo Patino be held in pre-trial detention on a so-called instigation charge, the attorney general’s office said on Thursday, but the ex-official’s whereabouts are unknown.

The administration of President Lenin Moreno has said that Patino, who served as foreign minister under the previous government of President Rafael Correa, is connected to WikiLeaks.

Moreno stripped WikiLeaks founder Julian Assange of his diplomatic asylum last week. Assange was given refuge in the London embassy in 2012 by Correa, but Moreno has accused WikiLeaks and Assange of violating his privacy by publishing private family photographs.

WikiLeaks has denied those allegations, arguing that Moreno was attempting to deflect attention from corruption allegations against him.

Patino, an economist who called on supporters to carry out “combative resistance” against Moreno in October 2018, fled the country by road on Wednesday, the attorney general’s office said in a statement.

“The attorney general’s office began a criminal process against Ricardo Patino for the alleged crime of instigation,” the office said. “(Patino) had given a speech in which he instigated people to take over public institutions and close roads.”

“The judge accepted the request of the attorney general’s office, ordered pre-trial detention and asked for the release of an Interpol red notice,” the office said.

It was not possible to reach Patino immediately for comment. He has previously denied the allegations.

Patino is also under investigation for having supposed ties to alleged Swedish hacker Ola Bini, who was arrested last week, the attorney general’s office has said.

The government alleges that Patino and Bini have taken similarly timed trips out of the country and that they visited Assange when he was living in the Ecuadorean embassy in London. The interior minister has said Patino is part of a plan to “destabilize” the government.

(Reporting by Alexandra Valencia; Writing by Julia Symmes Cobb; Editing by Leslie Adler)

Source: OANN

U.S. President Donald Trump travels to Mar-a-Lago
FILE PHOTO: U.S. President Donald Trump walks to board Air Force One as they travel to Florida for Easter weekend, at Joint Base Andrews in Maryland, U.S., April 18, 2019. REUTERS/Al Drago

April 18, 2019

By Nathan Layne and Mark Hosenball

WASHINGTON (Reuters) – Special Counsel Robert Mueller may not have found evidence of a criminal conspiracy between Donald Trump’s 2016 campaign and Russia, but his report details extensive contacts between the campaign and Russian operatives who sought to influence the election.  

Mueller said in his report released on Thursday that he found “numerous links” and that the Trump campaign “expected it would benefit” from Russia’s effort to tilt the ballot in Trump’s favor.

Ultimately, Mueller determined the various contacts either didn’t amount to criminal behavior or would be difficult to prove in court, even if people in Trump’s orbit sometimes displayed a willingness to accept Russian help, the report showed.

Trump and his allies, who derided the Mueller probe as a political “witch hunt”, portrayed the report as vindication. “No collusion. No obstruction. For all the haters and the radical left Democrats, game over,” Trump tweeted on Thursday.

“The bottom line is the president is exonerated and the campaign is exonerated of collusion,” said Michael Caputo, a former adviser to Trump’s campaign.

Some legal experts and political strategists were more circumspect, saying the report confirmed the Russian government was attempting to help Trump with the election.

“I think that’s a pretty extraordinary finding of historical significance, whether or not there’s a crime,” said Matthew Jacobs, a former federal prosecutor who is now a San Francisco-based lawyer.

Many of the contacts in the report were already known. They included former national security adviser Michael Flynn’s conversations in late 2016 with Sergei Kislyak, Russia ambassador at the time, and former Trump campaign chairman Paul Manafort’s interactions with Konstantin Kilimnik, a political consultant who the FBI has determined has ties to Russian intelligence.

But the report contained fresh details on the range of official and unofficial dealings Trump campaign advisers and supporters had with Russians before and after the 2016 election.

For example, the report says that Manafort, shortly after he joined the campaign in the spring of 2016, directed his deputy to share internal polling data with Kilimnik with the understanding it would be passed on to Oleg Deripaska, a Russian oligarch known to have close ties to the Kremlin.

Lawyers for Manafort did not immediately respond to a request for comment. Kilimnik did not reply to an email seeking comment.

A Washington-based attorney for Deripsaka said he could not comment. In a statement to Reuters in January, representatives for Deripaska said he has never had any communication with Kilimnik.

The report also says that Manafort told Kilimnik in August 2017 about the campaign’s efforts to win the battleground states of Michigan, Pennsylvania, Wisconsin and Minnesota. Trump ended up winning three of those states in the November election.

Mueller’s investigation did not find a connection between Manafort’s sharing of polling data and Russia’s meddling in the U.S. election or that he otherwise coordinated with Russia.

Frank Montoya, a former senior FBI official, said he was nonetheless bothered by the interactions between Manafort and Kilimnik, especially their talking about battleground states.

“As a longtime counterintelligence investigator it makes the hair stand on the back of my neck,” Montoya said.

The report detailed a meeting in December 2016 between Trump’s son-in-law Jared Kushner and Sergei Gorkov, the head of a Russian state-owned bank under U.S. sanctions. Gorkov gave Kushner a painting and a bag of soil from the town in Belarus where Kushner’s family is from, the report says.

Mueller’s team said it could not resolve a conflict in the accounts of Kushner, who said the meeting was diplomatic in nature, and Gorkov, who said it was business related.

Kushner has said neither sanctions nor his business activities were discussed at the meeting. Kushner’s lawyer did not respond to a request for comment on Mueller’s report.

The report also provided new details about a meeting that campaign advisers Donald Trump Jr., the president’s oldest son, Kushner and Manafort held with a Russian lawyer at New York’s Trump Tower in June 2016. The meeting was set up after the advisers were promised “dirt” on Hillary Clinton, Trump’s Democratic challenger for president.

Mueller’s team considered whether the advisers violated laws barring election contributions from foreigners. But, the report says, they ultimately decided there was not enough evidence to show they “wilfully” broke the law and they might have had problems proving the information offered on Clinton was really valuable.

When news of the Trump Tower meeting broke in July 2017, Trump Jr. issued a statement saying the meeting was set up to discuss adoption policy, not politics, before later admitting he had been expecting intelligence on Clinton.

Such interactions have broadly been referred to by Democratic congressional investigators as examples of possible “collusion”. But because collusion is not a legal term, Mueller’s team examined the Trump Tower meeting and other contacts through the lens of federal conspiracy law.

Mueller said his investigation was unable to establish that such contacts with Russians met the bar of criminality which required that the contacts “amounted to an agreement to commit any substantive violation” of U.S. laws, including those governing campaign finance and foreign agent registration.

Therefore, Mueller said his office “did not charge any individual associated with the Trump Campaign with conspiracy to commit a federal offense arising from Russia contacts.”

(Reporting by Mark Hosenball, Nathan Layne, Sarah N. Lynch, Karen Freifeld and Andy Sullivan in Washington; Editing by Ross Colvin and Paul Thomasch)

Source: OANN

America’s first female astronaut candidate, pilot Jerrie Cobb, who pushed for equality in space but never reached its heights, has died.

Cobb died in Florida at age 88 on March 18 following a brief illness. News of her death came Thursday from journalist Miles O’Brien, serving as a family spokesman.

In 1961, Cobb became the first woman to pass astronaut testing. Altogether, 13 women passed the arduous physical testing and became known as the Mercury 13. But NASA already had its Mercury 7 astronauts, all jet test pilots and all military men.

None of the Mercury 13 ever reached space, despite Cobb’s testimony in 1962 before a Congressional panel.

“We seek, only, a place in our nation’s space future without discrimination,” she told a special House subcommittee on the selection of astronauts.

Instead of making her an astronaut, NASA tapped her as a consultant to talk up the space program. She was dismissed one week after commenting: “I’m the most unconsulted consultant in any government agency.”

She wrote in her 1997 autobiography “Jerrie Cobb, Solo Pilot,” ”My country, my culture, was not ready to allow a woman to fly in space.”

Cobb served for decades as a humanitarian aid pilot in the Amazon jungle.

“She should have gone to space, but turned her life into one of service with grace,” tweeted Ellen Stofan, director of the Smithsonian Institution’s National Air and Space Museum and a former NASA scientist.

The Soviet Union ended up putting the first woman into space in 1963: Valentina Tereshkova. NASA didn’t fly a woman in space — Sally Ride — until 1983.

Cobb and other surviving members of the Mercury 13 attended the 1995 shuttle launch of Eileen Collins, NASA’s first female space pilot and later its first female space commander.

“Jerrie Cobb served as an inspiration to many of our members in her record breaking, her desire to go into space, and just to prove that women could do what men could do,” said Laura Ohrenberg, headquarters manager in Oklahoma City for the Ninety-Nines Inc., an international organization of licensed women pilots.

Still hopeful, Cobb emerged in 1998 to make another pitch for space as NASA prepared to launch Mercury astronaut John Glenn — the first American to orbit the world — on shuttle Discovery at age 77.

Cobb maintained that the geriatric space study should also include an older woman.

“I would give my life to fly in space, I really would,” Cobb told The Associated Press at age 67 in 1998. “It’s hard for me to talk about it, but I would. I would then, and I will now.”

“It just didn’t work out then, and I just hope and pray it will now,” she added.

It didn’t. NASA never flew another elderly person in space, male or female.

Geraldyn Cobb was born on March 5, 1931, in Norman, Oklahoma, the second daughter of a military pilot and his wife. She flew her father’s open cockpit Waco biplane at age 12 and got her private pilot’s license four years later.

The Mercury 13’s story is told in a recent Netflix documentary and a play based on Cobb’s life, “They Promised Her the Moon,” is currently running in San Diego.

In her autobiography, Cobb described how she danced on the wings of her plane in the Amazon moonlight, when learning via radio on July 20, 1969, that Apollo 11’s Neil Armstrong and Buzz Aldrin had landed on the moon.

She wrote: “Yes, I wish I were on the moon with my fellow pilots, exploring another celestial body. How I would love to see our beautiful blue planet Earth floating in the blackness of space. And see the stars and galaxies in their true brilliance, without the filter of our atmosphere. But I’m happy flying here in Amazonas, serving my brethren. ‘Contenta, Senor, contenta.’ (I am happy, Lord, happy.)”

Source: NewsMax America

Extinction Rebellion protest in London
A person walks across Waterloo Bridge during the Extinction Rebellion protest in London, Britain April 18, 2019. REUTERS/Peter Nicholls

April 18, 2019

By Emily G Roe and David Milliken

LONDON (Reuters) – The Extinction Rebellion group of climate change campaigners said it planned to hold a protest at London’s Heathrow Airport on Friday, opening a new front in its demonstrations that have caused transport snarl-ups in the British capital.

Extinction Rebellion has blocked several locations in central London in recent days after it staged a semi-nude protest in parliament earlier this month.

More than 500 people have been arrested this week and 10 charged so far, police said.

London’s police force said it had canceled some officers’ leave and was calling in assistance from other forces to deal with protesters who were causing “unacceptable” disruption.

Extinction Rebellion sent a message to media titled “Statement on the Extinction Rebellion Heathrow Action Tomorrow” but the body of the message did not give further protest details.

The group has called for non-violent civil disobedience to push the British government to reduce net greenhouse gas emissions to zero by 2025 and to stop what it says is a global climate crisis.

“If we don’t do something now it’s going to have a catastrophic effect,” said 23-year-old media student Fflur Harman, who had traveled from central England and spent the night at one central London protest site.

The pace of reduction in emissions called for by Extinction Rebellion is far faster than that urged by the United Nations’ Intergovernmental Panel on Climate Change, which last year recommended they be cut to zero on a global basis by 2050.

Britain has lowered net emissions by 42 percent since 1990, and currently aims to cut emissions by 80 percent by 2050. Government advisors will suggest new targets next month.

Heathrow said it was working with authorities to address any threat of protests which could disrupt the airport on one of the busiest travel days of the year as the Easter getaway begins.

“While we respect the right to peaceful protest and agree with the need to act on climate change, we don’t agree that passengers should have their well-earned Easter Break holiday plans with family and friends disrupted,” the airport said.

London’s Metropolitan Police said it had “strong plans in place that would enable it to deploy a significant number of officers to Heathrow and take firm action” if needed.

Interior minister Sajid Javid said he wanted police to “take a firm stance and use the full force of the law”.

However, police said they were limited in the action they could take as the protests were disruptive, rather than violent.

“The question really is can we arrest our way out of this issue, given there are several thousand people in London who are willing to be arrested,” Metropolitan Police Assistant Commissioner Nick Ephgrave told broadcaster Sky News.

(Additonal reporting by Michael Holden; Writing by William Schomberg and David Milliken; Editing by Andrew Heavens)

Source: OANN


Former head of the Drug Enforcement Agency, Karen Tandy, said Thursday the southern border of the U.S. is “collapsing” from the immigration crisis.

“Our border is collapsing, plain and simple,” she said on “Fox & Friends.”

“What’s happened is principally Central American families, which consist primarily of one adult and a child, are being encouraged by drug traffickers and smuggling organizations to bring a child and get across a border. And why is that important? Because it’s become a swinging door,” she said.

Tandy said migrants only need to make it across the border before they are released back out into the general population with minimal fuss.

“They get across the border and then they get released into the United States because Customs and Border Protection is doing all they can and doing it valiantly, but there are no transportation services,” she said “There’s none of the services needed either to take care of these endangered children, and they are in danger, or to address the security at the border.”

The crisis at America’s southern border has reached unprecedented levels with human/drug trafficking and violence on the rise.

Tandy also said most illegal immigrant families are released after only 20 days in detention, because the government is running out of space to house them.

“So what happened in 1997, there was a court opinion that held that minors, children are limited to 20 days in detention. So customs and border protection can’t keep them longer than 20 days if they were unaccompanied minors coming across the border,” she said. “What happened after that, more recently in the last year was that the court took that opinion and added on to it, expanded it to also include these family units. So even though the child is accompanied, even though the child has a parent or a guardian with them, the court said you also are limited to 20 days as to these family units.”

(Photo by USCBP)

“There’s no place to put these people,” Tandy added. “They are surging beyond the wildest numbers and what happens is they get released, they’re given a notice to appear and they disappear into the United States.”

The attention span of the population has been shrinking for decades as the globalists seek even more control over the population. Dr. Nick Begich joins Alex in studio to expose the attack on our minds by Big Tech.

Source: InfoWars

Milan Fashion Week Spring 2019
FILE PHOTO: A model presents a creation at the Tod’s show during Milan Fashion Week Spring 2019 in Milan, Italy, September 21, 2018. REUTERS/Stefano Rellandini

April 18, 2019

By Claudia Cristoferi

SANT’ELPIDIO A MARE, Italy (Reuters) – Turnaround efforts at Italian luxury group Tod’s are starting to bear fruit with e-commerce sales growing at a “high-double digit” pace, owner and Chief Executive Diego Della Valle told shareholders on Thursday.

The shoes and leather goods company, famous for its Gommino loafers, has been struggling to revive the appeal of its brands to attract younger luxury shoppers, focusing on digital and more frequent collections and collaborations.

“Our recipe is known and unchanged. We want to keep our long-standing consumers and attract millennials,” Della Valle, who is also Tod’s chairman, said.

“We’ve got to the operational stage on some fronts and this gives us a little more confidence that the road taken is the right one.”

He added the company, which launched a new business model in late 2017 to reverse falling sales and refresh its namesake brand, could have moved earlier to tackle issues.

“But we’re doing what is needed”, he said listing among actions taken a management reshuffle that led to the appointment of a joint-CEO which Della Valle said was working out well.

Online sales, which account for 7 percent of total revenue, are growing at a “high double digit” pace and the firm hopes they will keep expanding at this rhythm in one or 1-1/2 years’ time so that the contribution to group sales can become more sizeable, Della Valle said.

To complement the online expansion in line with current multi-channel consumer trends, Tod’s is also planning to open a new flagship store on Milan’s famed Montenapoleone fashion street in a month.

Della Valle said disappointing quarterly earnings were the result of a push to “achieve sustainable results quite quickly”.

The company, which has fallen short of market expectations in recent years, has said 2019 will be another “year of transition” in terms of profitability.

The Della Valle family has been gradually increasing its stake in Tod’s as a sign of confidence in the company of which it now owns 63 percent.

“I’m happy where I am,” Della Valle said when asked about his role at the company.

(Reporting by Claudia Cristoferi, editing by Emelia Sithole-Matarise)

Source: OANN


Current track

Title

Artist