Let's stick with that. The next test on deck with a video earnings after the closing bell. Jay Goldberg of Seaport Global remained the sole sell on the stock writing.We think in video will meet expectations. It is hard to see them delivering much upside. Jay joins us now for more.Jay, welcome to the show. Still the big bear based on the recommendation. Let's get into it.What's going to camp the upside from here. I think they're limited on capacity. Right.We know that the industry is constrained across semic ...

Live from New Delhi. This is inside with Haslinda Amin, where we will dig into India's fast rising artificial intelligence ambitions and the shockwaves hitting the country's storied I. T.giants. As India hosts one of the world's biggest AI summits. We speak live with Schneider Electric CEO Olivia Bloom, ServiceNow president and CEO Omid Zaveri and Fractal Analytics co-founder and CEO.Trick on the Alarm, uncanny about how this technology is reshaping the world. And we bring you more from our conversations wi ...

American metal mills have incredibly slow lead times and will only sell to a select few customers due to capacity constraints. [music] Meanwhile, mills in Europe, Africa, and Asia are flooding the American metal market with much cheaper products and much faster lead times. In order for America to re-industrialize, we need modern mill capacity on United States [music] soil.For example, if I wanted to get an aluminum plate like this, it may take up to 8 weeks from an American mill. For stainless steel require ...

Financial Data and Key Metrics Changes - The company reported full-year revenue growth of 18% in constant currency, reaching €2.1 billion, exceeding the initial guidance of 15%-17% [6][13] - Gross margin increased by 30 basis points to 59.1%, while adjusted EBITDA margin rose by 100 basis points to 31.8%, meeting the high end of the target range [7][16] - Adjusted net profit for the fourth quarter was €94 million, up 71% year over year, with adjusted EPS of €0.51, a 76% increase from the previous year [16] Business Line Data and Key Metrics Changes - The Americas segment grew by 18% in constant currency, EMEA by 14%, and APAC by 34% in constant currency [13] - B2B channel revenue increased by 21%, while D2C channel revenue grew by 12% in constant currency [14] - The closed-toe share of revenue increased by 500 basis points year over year to 38% [10] Market Data and Key Metrics Changes - The company sold over 38 million pairs in fiscal 2025, a 12% increase, with average selling price (ASP) up by 5% in constant currency [8] - The APAC segment now accounts for 11% of global revenue, with the highest ASP among regions [10] Company Strategy and Development Direction - The company plans to open about 40 new stores in 2026, aiming for a total of 150 stores ahead of schedule [9][23] - The focus remains on maintaining brand scarcity and managing distribution tightly, with full price realization over 90% [9][40] - The company is investing in production capacity and innovation to meet growing demand, particularly in the premium product segment [11][29] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in strong brand demand despite external challenges such as tariffs and currency fluctuations [6][24] - The company anticipates significant headwinds from foreign exchange and tariffs in fiscal 2026, projecting a slower revenue growth rate of 13%-15% [18][20] - Management emphasized that growth is limited by production capacity rather than demand, with plans to increase capacity to meet future needs [45] Other Important Information - The company repurchased shares worth $200 million and reduced net leverage from 3.3 times to 1.5 times [5][17] - Capital expenditures for the year were approximately €85 million, focused on increasing production capacity [17] Q&A Session Summary Question: What is driving the more conservative growth outlook for 2026? - Management noted strong demand globally, particularly in the U.S., but highlighted production capacity as the limiting factor for growth [26][28] Question: Can you elaborate on the margin outlook for 2026? - Management indicated that FX and tariffs would significantly impact margins, with a total drag of about 200 basis points expected [31][33] Question: How do you see channel growth in 2026? - Management expects B2B to continue outpacing D2C growth, driven by strong performance in the youth market and in-person shopping [36][40] Question: What are the expectations for closed-toe shoes in the long term? - Management anticipates continued growth in closed-toe shoes, projecting a share increase beyond 40% as new silhouettes gain popularity [57][58]

With respect to investors have short memories because Matter told us in the prior quarter that capital expenditures would be higher in the next fiscal year. They used a different language this time around, which was notably larger in fiscal 26 and 25. But maybe it's what they didn't say.They didn't tell us what top line or bottom line growth directly from investments looks like. What's your read. Well, actually, for less, the investments look more riskier than they are for Microsoft or Amazon.We do have the ...

Should you continue to lean into this record run in tech. Let's ask Alers's Encore Crawford. Al, it's nice to see you today, Encore.When we're looking at this massive runup, do you feel like there is still some fuel in the tank. >> I do. And in part because if you look at the demand for AI and the token demand and you can track how much intelligence is is being pulled from from AI using these tokens.Um, you know, token growth on a month-over-month basis is up 50%. Google recently talked about how their toke ...