“We continue to expect our full year effective tax rate to be in the high-teens range.”

In context

“higher product input costs and approximately 60 basis points of impact from foreign exchange headwinds. We expect full year SG&A growth to improve to low-single digits, excluding restructuring charges as we continue to tightly manage expenses and improve productivity and efficiency. Specifically, we expect SG&A dollars in both Q3 and Q4 to be modestly above our first half run-rate, excluding the charge. We anticipate a restructuring charge of $400 million to $450 million in our second half, primarily related to severance costs, which will be recognized largely in the third quarter. We expect full year SG&A including the restructuring charge to grow mid-single digits. We now expect other income and expense, including net interest income to be $275 million to $325 million for the full year. We continue to expect our full year effective tax rate to be in the high-teens range. Taken altogether, strong gross margin execution and disciplined cost controls are enabling us to offset softer second half revenue and drive earnings growth. Excluding restructuring charges, we expect to deliver on our prior full-year earnings outlook. While we expect the operating environment to remain dynamic, we have been here before and we know that moments like this are when NIKE operates and execute at its best. We will stay on the offense, manage risk, optimize opportunity and leverage our strengths to create even further competitive separation. As we move forward, our focus is building a faster, more efficient NIKE and embracing the opportunities in front of us to accelerate sustainable and more profitable growth. So with that, let's open up the call for questions. Operator: Thank”