Consumer EngagementDirect-to-consumer traffic has continued to decelerate significantly, showing a notable slowdown beyond prior expectations.
Financial PerformanceThe company has cut its FY25/26 EPS estimates due to lowered sales expectations and FX headwinds, particularly in North America.
Inventory ManagementDunk and AF1 are still in the thick of clearance, with a third wave of markdowns picking up into the holidays as inventory remains stubbornly high.