Paul Lejuez

if you could talk about your HOKA order books. And your visibility for the brand to grow significantly in wholesale?

Is there any way to quantify the order book that you are seeing and or maybe sell throughs at retail that might be an indication of future orders?

I think last quarter, you had some cautionary comments about the U.S. consumer. Just curious about your outlook for the consumer

if you can talk about sell-through by channel, specialty running, sporting goods, athletic specialty, what you saw this quarter

how many stores do you have -- new stores on the HOKA front do you have in the pipeline for '26 and on what base is that

when you do a remodel, how much of that expected comp lift is traffic versus conversion versus ticket?

Can you talk about inventory in units compared to that dollar number that you reported? Also what the plan is for F '26?

Curious what you saw Thanksgiving week and weekend. And then that 85% number I think you're talking in terms of units

Can you talk about the drivers of the higher ticket between AUR and UPT, maybe any more detail you gave about AUR and discretionary versus consumables?

can you maybe talk about what's happening at the $1.50 price point, and to what extent will that be used as part of the go-forward plan to offset some of these tariffs?

I think you already started to take some prices I'm curious if that was driven by the tariffs, that was what was driving that decision?

Curious if you could talk about performance by your different income segments where you're seeing stronger versus weaker results. Also, if there are any callouts regionally.

Can you talk a little bit more about the Our Brands portfolio, the growth you saw in that segment of the business versus the rest of the store and how the gap between the 2 are trending?

I'm just curious if we should read that as you guys being happy with full-price selling in the Rest of World and China

Curious if you could talk a little bit more about the China business, what you saw in e-comm performance versus stores

Can you maybe talk about the gross pressure from the reciprocal tariffs as well as the de minimis on an annualized basis?

You maybe give a little bit more detail about inventory by geography?

can you talk about what you saw in the other regions, including Canada, including China, international

I think you mentioned e-com in the U.S. was still positive. Stores, you said, were lower. Can you talk about that e-com versus store dynamic in your other key regions?

I was just curious on the margin expansion guidance. How much of that is simply regional mix

I am curious what kind of activations you are most excited about for this upcoming year, how that differs by region

Did you say anything about the monthly cadence? Curious if you could share anything on that front. Home versus apparel, and specifically, not just performance, home versus apparel, but AURs

Curious if you could talk a little bit more about your transactions versus ticket, how that changed during the quarter

how are you thinking about traffic versus transactions? And maybe just, again back to the slowdown, is that a transaction or average ticket sort of slowdown

go deeper into state performance or regional performance in 4Q and in which regions or states drove the slowdown

Curious if the recognizable brands and how quick you can fix those issues. And, Adam, any quantification of that shrink benefit?

Can you talk about how digital versus stores would look around that -- relative to that guidance also by category, which will be the leaders, which are likely to be the laggards

Which categories do you expect to be above? Which ones you expect to be below?

I'm curious what your plan in 1Q from a traffic versus ticket perspective?

what is the profile of the new customer at each of the divisions?

SG&A leverage came in a little bit lighter than I think what you guided to despite higher sales. So just curious if you could talk about the flow-through

If it was mix that drove the basket. In terms of higher AUR, higher ticket. Or are you seeing true true price increases

any more detail you could share, higher income, demos versus or lower income maybe just to build on that also, just regional differences

What percent of your product currently is direct-sourced by you? And how might that change, if at all, in response to the current environment

If you can talk about what drove the stronger performance in Canada and international

if you can just talk at a high level, about how you're thinking on margin expansion opportunities or challenges in 2025

I'm curious if you can talk about whether your view of the consumer has changed versus the last time we heard from you

I'm curious if you're already seeing signs of that happening in terms of price competitiveness in the U.S. market

Any early signs based on price increases that you've taken

what finally got you over the hump