...Hi, my name is Kimberly Greenberger, and I'm the branded apparel and footwear and softlines analyst here at Morgan Stanley. Thank you so much for joining us today. We're so pleased to host Skechers at our inaugural global sporting goods event as we view the business as one of the most attractive players in the global sportswear and footwear ecosystem. In fact, we upgraded the stock to overweight earlier this year and our thesis is predicated on Skechers' attractive category exposure, diversified portfolio and value positioning. We also appreciate the business's improved profit flow-through and clarity on its expenses, 2 items that we'll get into more during the session today. So let's start with who Skechers is? Skechers is an $8 billion market cap branded footwear company with over 4,000 stores worldwide across 170 countries. Skechers product offering spans over 3,000 styles and 30-plus brands serving all genders, ages and categories. It ranks as the #1 brand for walk, work, casual and...
