“So we expect to continue to see improvement in Q4 in our inventory and are confident that we're going to finish this year in a position of strength as we look ahead to fiscal year '24.”

In context

“ntum that we had as we exited the quarter. As it relates to our full year revenue guidance. We revised our full year revenue guidance again upward, and that was based on strong momentum this month -- this quarter. But also when I look at Q4 in particular, our fourth quarter outlook at this point in time is higher than it has been in the previous two quarters. So we're continuing to see our brand momentum and our confidence continue to build. The largest driver of our Q4 revenue guidance is six months ago, we made the decision to cut our spring and summer buys to help ensure that we finish this fiscal year in a healthy place from an inventory perspective that we and our partners finish this year in a healthy place from an inventory perspective. And we're making great progress against that. So we expect to continue to see improvement in Q4 in our inventory and are confident that we're going to finish this year in a position of strength as we look ahead to fiscal year '24. Operator: We'll take our next question from Kate Fitzsimons, Wells Fargo. Kate Fitzsimons : Curious if you can just expand on some of the movement we've seen in digital margins over the last couple of quarters. Sounds like you continue to see benefits associated with reduced digital shipments. It seems like you're pleased with some of the movement on the ROAS front. So I'm curious now if you can just kind of speak to more detail about the margin delta maybe you're seeing between the wholesale and direct channels. And just how should we think about the digital margin flow through at this point? Matthew Friend : Sure. Well, we've been talking for some time about the -- how our consumer-led digital transformation is transforming NIKE's financial model. And you really see it both in terms of”