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| Wed Dec 21, 2016 | 3:31pm EST Texas moves to cut Medicaid funding for Planned Parenthood FILE PHOTO: Planned Parenthood South Austin Health Center is seen in Austin, Texas, U.S. on June 27, 2016. REUTERS/Ilana Panich-Linsman/File Photo By Jon Herskovitz | AUSTIN, Texas AUSTIN, Texas Texas plans to block about $3 million in Medicaid funding for Planned Parenthood operations in the state, a legal document obtained on Wednesday showed, a move the reproductive healthcare group said could affect nearly 11,000 low-income people. Planned Parenthood said it would seek court help to block the funding halt, which would cut cancer screenings, birth control, HIV testing and other programs. Planned Parenthood gets about $500 million annually in federal funds, largely in reimbursements through Medicaid, which provides health coverage to millions of low-income Americans. Texas and several other Republican-controlled states have tried to cut the organization's funding after an anti-abortion group released videos last year that it said showed officials from Planned Parenthood negotiating prices for fetal tissues from abortions it performs. Texas sent a notice to Planned Parenthood in the state on Tuesday to alert it of the funding cut, the document showed, saying the basis of the termination was the videos. Planned Parenthood has denied wrongdoing, saying the videos were heavily edited and it does not profit from fetal tissue donation. It has challenged similar defunding efforts in other states, calling them politically motivated.
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Zalando has promised a 4 percent to 5.5 percent operating margin this year, and analysts expect that to reach 6.5 percent in 2018. While Ritter says Zalando has been hitting its numbers even as competition picks up, UBS analyst Adam Cochrane says those forecasts look high in light of Amazons onslaught. UBS, which in November downgraded Zalando to sell, surveyed 1,000 German consumers last summer and found 78 percent said theyd shopped at Amazon for fashion in the past year, compared with 40 percent at Zalando. The biggest investor fear for Zalando is Amazon improving its fashion offer and being a more credible threat, Cochrane wrote in a November note. Amazons Saideman recognizes she faces plenty of hurdles and says shes working to improve access to the seasons hottest products. In November she visited new Hugo Boss CEO Mark Langer to see how Amazon could help as Boss pares its jumble of brands and reemphasizes office wear for men. And Amazon has launched a social marketing blitz. Hungarian model Barbara Palvin is doing photo shoots and promotions on YouTube. Italian fashion blogger Chiara Ferragni is promoting products including her own branded shoe line.
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