“I would expect P&L leverage, in other words, expenses growing less quickly than revenue, across all of those items. Which is how we drive the margin growth that we would expect to see.”

In context

“e fifty-third week comp? Thank you. Hugh F. Johnston: Yeah. First on DTC. It's really consistent with what we've talked about in the past. So we expect to grow revenue at an attractive rate. As I mentioned earlier in the call, the aspiration is to be double digits in that business. In terms of then the line items underneath, we'll obviously continue to invest at a reasonable level in content. Leaning a bit more towards the international side as we identify opportunities in specific markets to grow the international business where we have a big opportunity. In addition to that, we'll be investing in product. So the technology area will get some level of investment as well. And obviously, as we put the two businesses together, there's opportunities to do a bit of savings on SG&A. That said, I would expect P&L leverage, in other words, expenses growing less quickly than revenue, across all of those items. Which is how we drive the margin growth that we would expect to see. In terms of the fifty-third week, again, would expect us to figure out as we get to Q4 what the fifty-third week is worth. And then as we determine that, as we have in the past two times, we've had the fifty-third week, we would share something on that with investors and we'd look to grow double digits off of that. Carlos A. Gomez: All right. Thanks, Kutgun. Operator, we have time for one more question. Operator: Thank you. And our final question today comes from David Karnovsky with JPMorgan. Please go ahead. David Karnovsky: Hey, thank you. Bob, you noted Generative AI earlier, but it sounded primarily as a use case within your apps. And I'm wondering how you view the opportunity or risk to license out content or IP to some of the emerging video creation platforms. And then just related”