“As far as the channel shift mix going forward, it certainly will have a headwind in fiscal year 2025, both in terms of revenue, as I just mentioned in answering a prior question, but also on margin.”

In context

“ies that we're building in terms of demand sensing, leveraging data and insights in order to have better predictability of our owned business. But I feel really good about the adjustments that we're making at this point in time and the aggressiveness through which we are -- the rest of the way that we continue to manage it. I'd also just say that, when I look at the digital business overall, we were already planning for lower launches in Q4, because we had an extraordinary number of launches in the fourth quarter of the prior year. And if I exclude the impact of the biggest franchises on our digital business, the rest of our digital business was healthy. And we were pleased with the growth that it delivered. And so, from that end, we feel comfortable in the way that we're looking at this. As far as the channel shift mix going forward, it certainly will have a headwind in fiscal year 2025, both in terms of revenue, as I just mentioned in answering a prior question, but also on margin. And these products also have an outweighed impact on margin, just given the high levels of full price realization that we've been driving across these franchises. And so, we are planning for channel mix to be a headwind in 2025. But I'm pleased that we're still able to expand margins 10 basis points to 30 basis points in the year. And that's despite another year of about 15 basis points of foreign exchange headwinds. So we are expanding margins as we look towards fiscal year 2025. And we still believe while channel mix may be less of a driver as we look forward, we have a number of other opportunities to continue to drive more profitable business over the long term. And it starts with a strong brand, and it starts with creating great products that consumers love. Matthew Friend: And I'd a”