Antonio Achille: Well, one thing I realized there is on your question can be done in a form of a special conference, not necessarily a quarter results conference. We can organize a meeting with our retail division to work you through a bit what we are doing. And I mentioned here, for instance, our new IT systems, which provide really accurate data, which to my experience, may be ground, albeit for 23 years consultant in retail and they work a lot of corridors. And I might say, I’m biased that is one of the best system still ever. So maybe for those who are interested, we can organize a special informative section where we share some of these initiatives we do on trade. Some of these initiatives we do to support our team with better system tools to walk you through more in detail what we mean here that seems to be a bit generic statement.
So we were going to capture your interest for a follow-up session in the next weeks, doesn’t need to be tomorrow, but we can definitely can do a deep dive on retail, if you insure interest that.
David Kanen: Sure. Thank you for that.
Pasquale Natuzzi: If I may, Antonia and Jason.
Antonio Achille: Please. Please [indiscernible]
Pasquale Natuzzi: First of all, thank you very much for the way you are explaining performance the company and concern, obviously. And thanks to David for his optimism, which is very important to us. Certainly, what we create has been — we create a lifestyle brand, which is not something that easily in the furniture industry, a few people really created. As far as I know, there is a certain registration as well, there is a set primarily registration hard work. There is Natuzzi and [indiscernible]. Those are the global (ph) but not global probable that really has been able to create a large study brand. Now obviously, in order to promote — and to promote a lifestyle brand, retailer plays a strategic role because you need to show what the — what’s the lifestyle brand could represent?
How can really be attractive for the consumer? And I must say that we have done great progress. on lifestyle brands, certainly, but also on retail. Thanks to Jason and also in other geography. So again, today, we need to be optimist on one side, but also realistic on the other side. The consumer confidence is very low everywhere, not only — I mean, it’s everywhere. There is no geography where there is enthusiasm to buy. Because for reasons that everybody knows, I don’t need to repeat things that everyone knows. So that’s what I want just to emphasize. Thank you for listening.
Antonio Achille: Thank you, Pasquale, For your comments, especially for you’re perceiving entrepreneurial patience and enthusiasm. Thank you so much.
Pasquale Natuzzi: You’re welcome.
Operator: [Operator Instructions]
Antonio Achille: Kevin, my one suggestion. My people might digest – understand, we download (ph) a lot, so maybe people are through the testing and thinking about question. I will ask our CFO that joined almost one year ago, to provide some more color about, I would normally call it transformation, but the ambition of impact you want to create push me to call it more restructuring. So maybe he can provide some more color on that while we are waiting for other questions to surface, if you agree, we can go at this way.
Operator: Please proceed.
Jason Camp: Hi. Thank you, Antonio. Good day, everybody. So as Antonio anticipated, I will give more color of this transformation process that we are starting — we start already. Allow me to say that we — as a top management, we are fully aware that given the express sales the current structure is no more sustainable and it’s crucial, vital for us to deliver a structure that lead towards a more agile reaction to be resilient to the volatile markets. So what we have been doing and analyzing is all our operating expenses that includes selling expenses and administrative expenses. As a general comment on our P&L, I will not go deep in what Antonio already mentioned on our improved marginality. But on the operating expenses, I can say that we did benefit on our generalized decrease in transportation rates that counterbalance the higher cost for opening the U.S. and further strengthening.
