Consolidated net sales increased 1.9% to $2.90 billion in fiscal 2025 (53 weeks) from $2.84 billion in fiscal 2024 (52 weeks), with the 53rd week contributing approximately $37 million. U.S. Retail sales increased 3.5% to $1.47 billion, with comparable net sales up 1.4% for the year, reflecting three consecutive quarters of positive growth. U.S. Wholesale sales decreased 2.0% to $1.00 billion, primarily due to decreased sales of the Simple Joys brand and lower demand from department stores. International sales increased 6.3% to $431.0 million, driven by growth in Canada and Mexico. Consolidated gross profit decreased 3.7% to $1.31 billion, and gross margin decreased 260 basis points to 45.4%, mainly due to higher average unit cost (AUC) from incremental tariffs (approximately $60 million impact) and product make investments. Consolidated operating income decreased 43.5% to $143.9 million, with operating margin down 400 basis points to 5.0%. Consolidated net income decreased 50.5% to $91.8 million, resulting in diluted net income per common share decreasing 50.6% to $2.53. Inventories increased 8.4% to $544.6 million, driven by approximately $50 million of incremental tariff-related costs capitalized within inventory balances. An organizational restructuring initiated in Q3 fiscal 2025 is expected to reduce offices-based roles by approximately 15% and generate $35 million in annual savings starting fiscal 2026, with $9.8 million in charges recorded in fiscal 2025. The quarterly cash dividend per common share was reduced by 69% to $0.25 in Q2-Q4 fiscal 2025, from $0.80 in Q1 fiscal 2025, to realign with current profitability and higher product costs from tariffs. The company refinanced its debt, issuing $575.0 million in 7.375% Senior Notes due 2031, redeeming $500.0 million in 5.625% Senior Notes due 2027, and replacing its secured cash-flow-based revolving credit facility with a new $750.0 million ABL facility.