Laurent Vasilescu

the confidence around low double digit growth for HOKA? For the full year. How do we think about that 1H versus 2H?

Should we assume mid single digits for U.S. and mid-teens international. And then maybe can you just provide a little bit more color around how you think about gross margins

what your order books look like. If you can maybe unpack that a little bit more in terms of dimension

The HOKA guide of 13% to 14%, this is despite a very, very easy compare. Any considerations there on that front

With today's guide, lower expectations on those 2 metrics, can you maybe just unpack that a little bit more? Is there just a degree of conservatism

any nuances we should consider just because there are some compares that we can look at between 3Q and 4Q

would you assume that there's a reacceleration in the U.S. DTC business? And then longer term, on this DTC narrative

Since the fact that order books haven't really changed, is that still the right framework to think about

how much legacy product do you have? I mean, just to out there in the marketplace. Like, do you think the marketplace is clean

you did provide a framework that calls for HOKA to grow mid-teens. How are you thinking about that framework between HOKA DTC and wholesale

what the reception is from some of your key retail partners

Can we see a path to effectively $7 billion to $8 billion? Are there limitations to the brand

where do you want HOKA International to go over time? And maybe can you give -- for the audience

the product extension, the brand extension into other footwear categories or maybe into apparel in a bigger way

the North American full-price realization, can you maybe just unpack a little bit better in terms of -- like I think you mentioned 1Q is better than 4Q

How much of that is committed to for 2026?

I wanted to follow-up on Europe. Justin, I think, as you mentioned, the guide for low to mid single digits

I think you called out better performance from full price stores versus outlets. As the offset. Can you maybe quantify the spread

Can you talk about what you're seeing there? Is there a rebound in the luxury space? Or is it idiosyncratic to Ralph

China was very strong in this quarter. I know you don't comment about the comment about what you're seeing, what your expectations are

with North America inflecting back to growth this year, how should we think about the trajectory of the North American business here

does that imply that unit velocity is now starting to become positive for this year and potentially beyond

what you're seeing in terms of inflation. And if there is inflation, are you anticipating to raise pricing

what you're seeing in terms of store productivity versus the rest of the store base