“So we're going to focus in on five sports to start with, running, basketball, training, football and sportswear.”

In context

“saw out in the market as we travel around. And first and foremost, we've got to get back to putting sport at the center of everything that we do. Our product management, we're starting to clean up what we have out in the marketplace. We're starting to shift dollars from performance marketing to brand marketing. We will invest our fields of play because that's where we drive our product innovation, our newness, our distinction and we will also invest in the brand. And then finally, which is demand creation, both from sports marketing and then just big, bold brand marketing efforts. And then we touched on what we call our ground game in key countries, in key cities. We'll speak later today with our teammates. But I think the easiest way to think about it, we can't do all of them everywhere. So we're going to focus in on five sports to start with, running, basketball, training, football and sportswear. And while we have 10 key countries and 12 key cities, we're going to focus our efforts on three key countries in five key cities. So, we're really going to narrow down and we'll pace and phase as we go throughout the next 18, 24 months or so. So I'm excited about the actions we're taking and the clarity we have about where we need to invest. Matt Friend: And Michael, what I would add to that is you've seen us for a couple of quarters now tightly managing expenses as we have been prioritizing our investments in the brand and demand creation. The long-term sport partnerships, these assets like the NFL, the NBA, the WNBA, Brazil, these are long-term partnerships deep into the next decade. And I think that's a great example for you of our commitment to sport and to invest behind sport not onl”