“For the first half of next year, I think it is safe to look to the range we provided for Q4 as a guide for what we are expecting for revenue for those last two quarters.”

In context

“ery large part of the overall industry, and it will be critical to our success moving forward. So we are taking a streets-up approach to this and making certain that we help this big, giant business feel more local. And, again, it takes time to seed, ignite, and scale product over time, but returning to a healthy Sportswear business is essential and vital to our comeback because it will continue to be a critically important part of the overall market and overall part of our growth. So, with that said, I am incredibly positive on the athletic industry overall, not just in Sportswear, and we see it as a tremendous opportunity for us to continue to drive growth in an expanding market. Matthew Friend: And then, Matt, to your question on sell-through assumptions—maybe let me hit revenue first. For the first half of next year, I think it is safe to look to the range we provided for Q4 as a guide for what we are expecting for revenue for those last two quarters. And I think it is really highlighted by the trends that we have talked about. It is North America continuing to sustain momentum. We expect to see more balanced growth across channels. Given where inventory is in the marketplace, we expect to continue to see improvement in underlying profitability in that geography, and the top line will be tempered a little bit, like we have been talking about, because we are anniversarying quite a bit of off-price liquidation in the prior year. But it is a healthier business. It is a more profitable business. And it is a sustainably growing business across all channels of the marketplace. As you go outside the U.S., I think that we have been clear that we believe that we can complete the Win Now actions in EMEA and APLA by the end of this calendar year.”