“Turning to gross margin. In fiscal ‘24, we expect our gross margin to be up approximately 100 basis points year-over-year.”

In context

“lanning assumptions for fiscal ‘24. Starting with the top line. We ended the fiscal year with significant momentum and believe we have the right strategy in place to support our growth in the year ahead. In Q1, we expect our net sales growth to come in well ahead of our 22% to 24% annual growth, reflecting the ongoing strong consumption trends we are seeing. As we look out to the remainder of the year, we remain bullish on the cosmetics category and our ability to gain share. At the same time, we are mindful of macroeconomic uncertainty and potential recessionary risks. We believe our outlook appropriately balances these elements, and our approach has been consistent, serving us well as we’ve navigated a dynamic operating environment to deliver 17 consecutive quarters of net sales growth. Turning to gross margin. In fiscal ‘24, we expect our gross margin to be up approximately 100 basis points year-over-year. We expect gross margin benefits from lower transportation costs, favorable FX rates, margin accretive mix and cost savings to offset costs related to retailer activity and space expansion. Turning now to adjusted EBITDA. Our outlook implies adjusted EBITDA growth of approximately 24% to 26% versus prior year, on top of the strong 56% growth we delivered in fiscal ‘23. With the combination of our top line momentum and strong marketing ROI, we’re planning to increase marketing and digital investment to approximately 22% to 24% of net sales in fiscal ‘24 as compared to 22% in fiscal ‘23. We’re investing from a position of strength and believe these increased marketing investments will continue to fuel our growth. Our outlook implies adjusted EBITDA margin leverage of approximately 30 basis p”