Tyler Crowe

Over the past couple of days,

Under Armour, On Holdings, and Adidas have recently reported.

And we got some pretty conflicting numbers or conflicting commentary on those numbers, depending on how well a company did.

So before we get into the kind of nitty gritty of everyone else in the industry, the two of you, what were some of the earnings reactions you had or thoughts, conference calls?

What did you see in any of these reports that really stood out to you?

Yeah, I think to your point, too, Adidas was interesting in that way, where you could see they even mentioned it in their earnings statement.

It was like, we did some discounting here, but on our fresh, innovative products, we're actually driving a lot of price.

And they did see margin expansion on the operating side overall because of that pricing effect there versus the discounting they're doing on some of their older stuff.

And to that same point, Deckers, they don't report, I think, until the 21st of May.

But on their previous quarter, they were mentioning the same thing.

strong performance in Hoka with basically we passed as much of the cost we can on the consumer as we could to fight tariff headwinds.

And I can say, buying my trail running shoes from Hoka, I can confirm they have definitely been pushing price versus trying to go down the discount route.

You know, in this vein, like as you are looking at the retail space, Travis, I know this on holdings has been kind of one of your favorites for quite a while now.

Is there anything else in the space that looks intriguing to you?

And then, Matt, you said on holding as well.

Is there anything else in this industry that you're watching, keeping an eye on?

Like how is how is this thing is developing more?

And are there any other interesting stories that people could be watching over the next couple of quarters?

I might go a little off topic here, but based on some anecdotal evidence, I might be waiting for the Alloyoga IPO whenever that comes, because I feel like that might be pretty interesting.

Coming up after the break, we'll dip into the mailbag.