Martin Hoffmann: Yes. Very happy. So as we mentioned, we approached the fourth quarter with a very strong inventory position. We are out of the impacts from last year’s factory closures. So we’ll also be normalized on the use of airfreight. We started the quarter very strongly. We had a good start into the holiday season. We spoke about the success during the Double 11 festival in China with 135% growth. We have a strong order book. We see continued strong demand from our retail partners as well as from our end customers. So we feel that the 41% growth that is implied in our quarter — in our guidance for the fourth quarter confirms that. And we also feel that we go with a similar strong momentum into the next year. We have a strong order book for the first half of the year.
We are currently in the selling season to basically get the orders on book for the second half of the year, which will then also allow us to give a more precise outlook on the full year in the — in our next call.
Jon Komp: That makes sense. And maybe just 1 follow-up on the margin outlook. If I look at the implied fourth quarter adjusted EBITDA margin, it looks near to just slightly below the third quarter. And I want to just clarify maybe what you’re embedding in that outlook given that you should have less freight, and we don’t have complete history to see always the seasonality third quarter to fourth quarter, but just any comments directionally on what you’re embedding in the fourth quarter margin outlook?
Martin Hoffmann: That’s really based on the top line that we see and the investments that we are planning to do and also the cost base that we have built. The FX impact clearly leaves the mark on gross profit, and it shows that we were able to mitigate some of the impacts. We benefit from the price increases that we have done. We benefit from the ability that we have on managing our expenses very carefully, and therefore, I think, it’s a strong message that we confirm the 13.2% EBITDA margin and increase the outlook further. And then, for next year, we see that we are able to drive some of the savings from our reduced airfreight share next year into the bottom line, but that we are also able to reinvest some of those savings into investments in the brand, especially on the marketing side.
Operator: The next question is coming from Michael Binetti from Credit Suisse.
Michael Binetti: Congrats on a nice quarter there with the — despite the disruption in Atlanta. I guess, could you tell us maybe a little bit of a continuation on the last question, besides airfreight, what are the other inputs you have visibility to today, and what guardrails we should think about that may limit upside, you said some reinvestment. What else should we think about as you think how next year you get back on track to your longer-term goals with gross margins in the high-50s, EBITDA margins over 15%? And then I was also wondering, could you speak a little bit more to what you think is needed for the unlock in apparel growth rates to move above footwear given the small base of that business. Every time you guys opened a company-operated store, and now it seems like the test, where you focus on head-to-toe apparel and accessories, seems to shoot up to about 20% of the mix, well above the average for the company.
I’m just wondering, what you think is the unlock you need to make that kind of mix more relevant across the entire company?
