Olivia Tong

relative to your expectations, a very nice beat on the top line. Where did you see the biggest positive surprises in your view?

as more business consolidates into club and online, it feels like the move online should be good for you, whereas club typically keeps brand count tight. Given those dynamics, how do you think abou...

can you talk about your confidence in ability to capitalize on that value-seeking consumer while also thinking about the impact on margins?

I assume there wasn't any pull forward from Q3 to Q4 or any other change in timing that helped contribute to the top line upside this quarter?

What's your view on some of the other underperformers, particularly in personal care

to what extent does trade down a factor for you both in terms of the negative of trade down from black to orange in Litter versus factors that are a tailwind

can you talk about the drivers for the 85 basis point change in the gross margin guide to down 60. How much of that is deleverage

given the macros in declining categories, how do you layer in price? And what's your view on the promotional environment going forward?

You flagged that even with the cost inflation headwinds, your plan to stay disciplined on brand spend

can you remind us what happened to pricing promo in the past in emerging markets, whether price push back

what's going to drive that acceleration? Is it more of a view of a slight rebound in the category growth or more of your initiatives

if you could provide a bit more granularity in terms of where you are seeing more of the pressure

I wanted to ask about a comment that you made in your prepared remarks on Glad and saying that you're prepared to adjust your plans as needed to balance growth and profitability.

as more sales go to club and e comm and larger packs sizes, can you talk about what initiatives you have or are putting in place sort of longer term to help offset

Do you expect any disruption to extend beyond Q2 other than obviously, the comp issues in Q4

perhaps how much of an impact is the product lineup needs some improvement. Your channel and category exposure

can you talk about your level of confidence here on potentially driving continued expansion and just the key drivers there?

just why you think the destocking was more substantial in Household and Cleaning? And does it make you more or less concerned that there's some picking and choosing by the retailers

whether you could talk about the level of promotion you have embedded into the second-half outlook versus what you did in first half, similarly on advertising?

Could you talk about your inventory positions at this point, whether at retail or if you have a view on consumer pantries

Can you elaborate on your discussions with them? And then also the game plan to capture more of the consumer in Asia

what's embedded from a deleveraging aspect versus maintaining investment versus perhaps more difficulty in achieving savings as part of the PRGP

the 100 basis points of reinvestment in gross margin, was it fairly similar by division?

what's your read on the staying power of the volume lift it has had and could have going forward?

what limitations there could be over the balance of the year on the price and productivity lever levers

what about rest of world, just thinking through dynamics with respect to demand, how the consumer is doing

are you surprised that consumers are still mixing up and willing to accept price despite their current challenged state

My question is also around the pre-tax tariff impact, so the $1 billion to $1.5 billion. And if you could just compare

how much of this is category growth versus your market-share improvements as you cycle less demanding comps

can you talk about the level of investment spend for 2026, the initiatives that you have planned this year versus last year, where that leverage is coming from?

wondering if you could unpack the expectations for deceleration to 2.5% to three point comp? Was there any impact from the government shutdown?

could you kind of break it down a little bit in terms of the outperformance in mass versus prestige.