“And actually, when we look at the first half and the second half of next year, we're actually planning for a fairly consistent level of retail sales growth to the consumer.”

In context

“t in the fourth quarter grew 18% versus the prior year. So, in this fourth quarter, remember that we moderated the sell into wholesale, but continued in terms of trying to prioritize a healthy marketplace, and we still drove strong growth in retail sales across the marketplace. As we look ahead to fiscal 2024 and the mid-single-digit guide, it starts with the approach that we've been taking around assessing marketplace health and our consumer trends and then the pressure that we see – the potential pressure that we see on the consumer. And so, we made a decision to tighten our first half buys and continue the trend that we had done in the second half, but we are expecting retail sales to continue a trend, so retail sales to the consumer to continue a trend of growth versus the prior year. And actually, when we look at the first half and the second half of next year, we're actually planning for a fairly consistent level of retail sales growth to the consumer. The distinction with the first half is that we're continuing to manage marketplace inventory and continue to just manage marketplace health. NIKE Direct is going to continue to lead our growth. And when we look at next year in the second half, in particular, we're excited about the new products that we brought to market this year and scaling them next year. We're excited about new product introductions and then ultimately capturing the energy around the Paris Olympics, which is a wonderful moment for NIKE. But mid-single-digit revenue growth on the full-year, and that includes four points of non-comp headwinds from wholesale shipment timing in fiscal year 2023, plus some of the accelerated liquidation activities that we have. So, all told in this environment, we feel like mid-single digit”