“All told, we expect these actions to create several points of short-term headwinds on revenue in fiscal 2025.”

In context

“last, foreign exchange headwinds worsened, creating an additional one point headwind on revenue in the quarter. In the midst of these dynamics, our goals to return to strong growth remain the same. Read and react to the consumer, maximize full-price sales across all channels, protect long-term franchise health, prioritize a healthy pull market and create marketplace capacity for new products and new stories coming in fiscal 2025. Therefore, despite continued marketplace demand, we are advancing our timelines to tighten total supply of certain classic footwear franchises at different paces, across different channels around the world. In particular, we are aggressively adjusting our forward-looking plans for these franchises on NIKE Digital, where they have their highest share of business. All told, we expect these actions to create several points of short-term headwinds on revenue in fiscal 2025. However, our past experience gives us confidence that proactively rebalancing our portfolio will strengthen our competitive position and fuel brand momentum as we take the consumer somewhere new. Let me share a few recent examples. Back in fiscal 2018, we recalibrated the supply of select Jordan brand franchises, resetting our launch business and bringing more dimension to our portfolio. Over the subsequent quarters, we turned the page from double-digit declines in the brand to the start of multiple consecutive years of strong double digit growth. And earlier this year, we moved quickly to reshape our lifestyle footwear portfolio in Japan and Korea, two of our most trend forward markets where our teams read and reacted to consumer signals. We reduced supply of some classic franchises, whi”