“And that's going to come through gross margin expansion first. And then, continuing to be disciplined in the way we manage SG&A in order, to be able to drive more productive growth.”

In context

“so, our franchises are healthy. In fact, we could sell more of these products if we wanted to. But we don't think that's the right thing to do, from a brand point of view. And we know that we manage these franchises for long-term health. And so, we're focused on scaling the newness and creating the consumer space, for us to tell stories about new things that, we're bringing to drive energy. And that's where our focus is. And so, that's ultimately where our teams are spending their time. And that's what's influencing the near-term transition that I highlighted a little bit earlier. As far as the margin question goes, what I'll say is that we're going to grow revenue and earnings next year. And we expect to drive operating margin expansion, excluding the impact of the restructuring charge. And that's going to come through gross margin expansion first. And then, continuing to be disciplined in the way we manage SG&A in order, to be able to drive more productive growth. Operator: Our next question will come from the line of Alex Straton with Morgan Stanley. Please go ahead. Alex Straton: Perfect. Thanks for taking the question. Just a couple from me. On the front half '25 revenue guidance down those single-digits, can you give us any color on how you're thinking about it by geography or channel? And then, just bigger picture on this kind of wholesale reentering, are you having any trouble kind of rebuilding the muscle there, facing any difficulty as you reenter? Has NIKE's criteria changed at all in terms of how you think about the right partners or distribution going forward? Thanks a lot. Matthew Friend: Okay. John, why don't I take the first part and then I'll start the second one John Donahoe: Okay. Matthew Friend: If you want to jump in on that and”