“So as we look forward to the fourth quarter and fiscal '23, we're continuing to look at the opportunities for additional pricing, and we do see some.”

In context

“'s been true for the past several quarters, and we know we haven't been able to meet marketplace demand with available inventory supply. We did implement a low single-digit price increase in the second half of this year or for the spring/summer '23 season to be more specific. And given the transit times delays, we'll start to see more of that hit the market in the fourth quarter. But our approach to pricing and to the consumer is a careful one. We evaluate the price value of our products on a season-by-season basis. And our financial model as a premium brand starts first with the value that we create for the consumer in our products. And so we're very careful about how we approach pricing, and we take a long-term view with regards to the consumer because of that relationship that we have. So as we look forward to the fourth quarter and fiscal '23, we're continuing to look at the opportunities for additional pricing, and we do see some. But as it relates to consumer demand for our brands, we continue to see strong consumer demand for our brands and for our products because they find value in our products. Operator: We have your next question from Matthew Boss with JPMorgan. Matthew Boss: Great. And congrats on a nice quarter despite the dynamic backdrop. So John, can you elaborate on the spring demand that you're seeing for the brand and just your excitement for the product pipeline into next year? And Matt, as we move into phase 2 of the marketplace model, is there any way for us best to conceptualize wholesale versus direct-to-consumer margins maybe today relative to the opportunity that you see moving forward? John Donahoe: Yes, Matt, I'm so glad you asked this question because one of the things that just gives us ext”