Good morning, everyone. We shall start our video conference for Lojas Renner S.A. together with me, our CEO, Fabio Faccio, and our CFO, Daniel dos Santos. Before I give them the floor, I'd like to inform that this video conference is being recorded and translated simultaneously into English. The presentation will be projected in Portuguese, and for those who follow us in English, the presentation will be made available here on our chat and on our Investor Relations website. Questions from journalists should be directed to our press office at 1131 55 95 86, and before proceeding, I would like to clarify that forward-looking statements related to the company's business prospects, operating and financial projections, and goals are mere forecasts and assumptions based on the current scenario. It does not guarantee future performance, as it depends on circumstances that may or not take place. For the Q&A, we can have them in audio or text, and I hand the floor over to Fabio. Good morning, Carla. Good morning, everyone. Renner delivers another robust and solid transformation of our model. We are at this strong positioning, as we can see with many indicators: 13% increase of nearly double of the market, also margin growth, which we also have operational leverage with the participation of the expenses with 2% improvement of financial cycle in 10 days and 13% improvement of inventory. We reached BRL 255 million in income and also of high free cash flow. We are satisfied to have chosen a path that leverages our potential. We have gone through the highest, most important investment cycle in our history that allowed us to improve in our model, and this brings us another level of competitiveness. We have positioned ourselves for profitability and consistent cash growth. This quarter has proven that we're ready in this journey. The results of this quarter show a new reality that for us is the starting point to a sequential growth cycle. Our investment cycle on infrastructure is over, allowing us to have this new cycle to further on, and we have a model that is based on having us as a benchmark on apparel, on omnichannel, and enhancement in terms of customer journey in a responsible way. The pillars were used based on the following leverages: improvement of productivity of the stores, better penetration in the digital organic expansion, and also strengthening of the brands and lifestyles of Renner stores, and we have worked these challenges in the following way. Currently, our operation is 100% with SKUs that allow us to have a store-to-store, item-to-item, and allows us to have a balance of the inventory. This increases the square meter sale and gross margin. Camicado also is working on Omni, and the transition of the e-commerce of Renner will be completed by 2025. Our lead time of fulfillment of store has reached high record levels. This is the fourth consequential one with the growth of sales leveraged by transactions and by PA, and the company now is able to create and produce at greater speed, tuning up quickly to supply to the demand in a responsive way to customers' wish. The adjustments that we've had reinforced our brand positioning and contributed to the customer journey as a whole. We are enchanting our customer in a more attracting value chain in an Omni experience that is online and offline. And this is reflected by the NPS increase in all our business units. And also, we had a quarter of expansion of the active base of our system, reaching 19.3 million. This growth also took place in all our retail views. The sales of Camicado increased 12% in the quarter and 18% by square meter. Gain of gross margin of 11.2% in a high record turnover of inventory. Good performance of increase also of 22.7% and 1.7% increase in gross margin. Realize shows a positive performance as well, and we also see the importance of Realize, not only in the performance of the sales, but also in terms of a loyalty tool for customers. This has been the best results of Realize in the last quarters. There also was an increase in the share of our cards of 1.4%. That is, in the approval and reactivation of customers. We had a drop of 32% in net losses. This shows the quality of our credit portfolio that has sequentially improved with an improvement of the NPS formation. A big strategy just goes further if we have a strong culture with an engaged team. The engagement of our team is essential to our capacity of enchanting our customers, generating results, and making our company be one of a kind in the market. We're very happy to say that we have reached our historical record of engagement. I should also thank our team at this point for their contribution in our journey. Our model is working, is building into momentum. We're ready at a new cycle of the company, and we keep directing our efforts to opportunities and growth leverages, focusing on a continuous value generation. Our intense strategic adjustments and investments in the last few years are allowing Renner stores to become more and more competitive and ready for the new cycle of growth and profitability. Our constant focus is on the improvement of ROIC and also of generation of free cash flow. We are also ready for important events of sales for the end of the year: Black Friday, Christmas, and high summer sales. Now I pass the floor to Daniel, who will introduce our results. Thank you. As Fabio well mentioned, the result for this year shows the strength of our business model in terms of growth and profitability that we reached. The execution of sales that is more agile and precise. We're able to have us reach high goals. It brought us acceptance to another quarter of increase of transactions and pieces. Again, this shows our agility and precision of the fashion execution model and to capture this in terms of the preference of our customers, so the omnichannel with SKU has brought this agility, so we have a record number while we have now greater availability and also a good assortment of products that's more appealing to our customers, improving that to our stores and to our digital channels, and also we have increased the number of stores by automated checkouts, maximizing the opportunity of sales and improved efficiency at our stores. The value proposition that is increasingly attractive, aligned to a more and more fluid operation, shows in the result of NPS and also our active customer base. The improvement in the customer journey can also be seen by the square meter sales, which is 11.6% for the quarter, and our digital GMV that has grown 24% in the quarter. Finally, we should highlight that we had a robust growth in all our business units: Youcom 24.7% and Camicado 12.5%. We have increased twice as the double of the market, which shows clearly that our brand positioning and our competitive edge is still gaining traction. Our gross margin, we can also see an acceleration for the quarter with 1.1% compared to the third quarter in 2023 for all the businesses. The management of inventory and the cycle of products has improved because of our execution model that is agile and flexible. The agility, with also the model that is in collection that is produced, was able to reduce in 13 days the inventory. That way, we were able to improve inventory turnover, and we have a 2% increase on inventory compared to the third quarter of 2023. It's important to say that our fulfillment model is still gaining traction. You'll see the benefits in the next quarters to come, bringing to greater precision, agility for execution, optimization of assortment, and operational efficiency in our operations. In terms of operating expenses aligned with our objectives, the goal we had, another goal that the increase of revenues is higher than that of expenses. As we can see right there in the diagram, we have an increase where we have a 2% improvement in terms of cost compared to the net revenue. So we see the efficiency and how the structure is able to bring us leverage of the revenue without a need for extra expense increase. So when we talk about the top line for improvement of our operating management, it was able to bring us an improvement in the free cash generation. Realize still carries on with the positive results. This is the fourth consecutive quarter of positive results, reaching 58 million BRL, with 10.1% of the total of our EBITDA, with a 24 million BRL improvement. So we see that this performance was brought with any non-current item. There was no sales of portfolio in this quarter. So 30.5% of the sales of the company were through Realize, an increase of 1.14%. We should say that the cardholder spent four times more and twice the frequency because of exclusive benefits as cashback that bring loyalty and lifetime value. When it comes to the portfolio indicators, we see them healthy and positive. The credit value and the most sophisticated intelligence that we had in the end of the year shows origination. We have a benefit of the risk profile of the portfolio. For the quarter, delinquency was reduced, where we had with the over-90-day reduction of 5.5% compared to the previous year and 1.2% sequentially compared to the second quarter. We also have 4.4% of the portfolio. The best rates of the last two years for both indicators. The short-term of 60 days also has reduced, and they are stable compared to the second quarter and record when compared to the last three years. A clear indication of the quality of what we have and gives us the confidence to carry on with our credit concession. We closed the quarter with robust financial figures. We have 59% here of the adjusted EBITDA. We have a net income of BRL 255 million, 47.6% increase so our increase in terms of profitability is because of our business models increase, the execution of the fashion omni fulfillment, and an enchanted journey for our customers. We carry on in generating value, bringing profitability, efficiency in generating capital, and in this quarter, we increase in terms of our ROI in the last 12 months, 12.7%. So we have precise, integrated, agile, and flexible operation that is important attributes, and at the same time, it allows us to have more opportunities of growth from the market in the short term as well as in the long run. With that, I conclude my comments, and I pass the floor back to Fabio. Thank you, Daniel. We're very satisfied to deliver another quarter of advance as we were able to increase the potential of the company, and our business model will allow us to leverage and broaden even more the competitive advantages of the Renner stores in an environment of constant uncertainties of volatility. A precise, agile, flexible model is essential to the sustainable growth of the company. We will carry on growing gradually for the next quarters and all the opportunities brought by the strategic projects that we have already implemented. So we meet our commitment to grow in terms of profitability and to also be a benchmark in fashion, lifestyle, and to be able to deliver an enchanted journey in a profitable manner. So this shows not only a growth of sales, but the solid and quality growth is what shows to be the most important. A growth that comes from an increment of gross margin with significant dilution of expenses, with an increase of inventory turnover, reduction of the financial cycle, and of delinquency. Our expectation is very positive because of the major investments that we have already carried out and shall bring us not only a good level of growth for sales, but mainly in terms of profitability with high free cash flow and also a return on the invested capital without need of greater investment on infrastructure. So I conclude then, and I pass the floor back to Carla for our Q&A. So let's start our Q&A session. If you want questions, please press the button on Zoom. We ask to optimize our time and to give the opportunity to have more people asking us questions that we can have one question per analyst and that the additional questions should be brought once you go back to the waiting line. The first question comes from Ruben Couto from Santander. How are you doing, Ruben? Hello, how are you doing? Thank you for your time. And quickly here for the gross margin. Finally, we go to the 2019 level, which is very positive. Thinking also of going forward, I want to understand how you're thinking now in terms of the fourth quarter, but also for 2025 in this whole setup and gross margin, using a bit of the advances that has been shown and that you can keep the company competitive and also at higher levels. How are you thinking about that when we think about gross margin and growth for the fourth quarter and also for 2025? That would be good to learn from you. Thank you for the question, Ruben. Well, I believe we have a positive expectation of gross margin of a gradual growth. When we planned the evolution of our model, the expectation was to be able to get close to the historical record we had in the past. And today, I can say that from the evolution that we've seen, we have an expectation to be able to tie or be superior from the best levels that we've had before. So I can say that in the midterm, we have an expectation of a gross margin that is slightly of growth, a gradual growth. We're very competitive as we are when it comes to the price positioning. It's very competitive. There's a good balance there, but it's a dynamic play. You can have a short-term response in terms of the dollar fluctuation. So there might be also a pressure, but we want to see a continuous growth of gross margin to go above even the best levels we had in the past. Thank you, Fabio. The next question comes from Joseph Giordano from JP Morgan. Hi, Joe. Good morning, Carla, Fabio, Daniel. Thank you for accepting my question. I want to explore about the expenses. I see that it has been very tight and much lower from what we have with the revenue. I want to know if there's any gain there as we're talking about the distribution and improvement when it comes to the operational management and also in terms of the recovery of square meter that it's a model that shows strength. What would you say? The second part of the question there, Joey, and then Daniel can answer the other part. I believe that's true. We do have potential. We have been saying that in 33% of the cities where we're at with the Renner brand, we see that the potential of accelerating the expansion. I believe we have 440 cities where we can be at with new stores and also some others in other cities. This is just for Renner. There are the other brands as well. The potential of expansion is important. We have had good performance with the new stores, and this shows that, yes, at some point, we can start to speed up our expansion, but it's still too early to say that as we're going through the whole budgeting process for the next year. We're discussing some points, and most likely we will have some acceleration and perhaps through the year we'll accelerate. More of our time because we prefer to be calm, to be very fast. We want to have the best point, to have the best projects going forward. So even if it takes a bit more of our time, as it was the case recently, we prefer that than accelerating anyway. But the potential is there and definitely, as we do every year for the next call, we want to have a scenario of the number of stores for the 2025. But yes, there is potential of expansion. To answer your question, Daniel, you can talk about now the expenses. Thank you, Joey. In terms of the expenses, what do we see? First, we are very diligent in terms of the expenses. And as we've said in our presentation, we believe that we have a margin of expense that allows us to have a growth that will have a pace that will be stronger than that of expense bringing us leverage. When we go into the project level, specific levels for improvement of expense, there are still those expenses that we have had, and throughout the 2025, we will be eliminating them. So we will follow not only for 2025, but also this is the rationale for 26, 27, having a growth of revenue that will be higher than that of expense so that we can keep having leverage gains operating-wise for the next few years. Now, next question. Please, let's make sure we have one question at a time. The next question comes from Luiz Guanais from BTG. Hello, Guanais. Hi, Carla, Fabio, Daniel. Good morning. A question here about the strategy of pricing. We have seen, Fabio, in the last few months, a gap of price of Renner when compared to some competitors, especially the cross-border ones where there is a reduction, so I want to understand what we can expect in terms of the evolution of pricing looking forward. I know that part of this gap has much to do with the cross-border tax, but I want to know from Renner, how do you see the pricing looking forward? Thank you, Guanais. Thank you for your question. You're right. Our prices in September last year, September 2023, became more competitive, but still with an improvement in gross margin, with efficiency gain, a better management of inventory, tighter inventory. We're able to have a better formula to supply that to our consumers and that way have a gain in our supply chain as well. And on the other hand, as we became more competitive, some competitors became more expensive because they're paying the tax, not all of them, but part of it. So this became much more appealing, our value equation, and we shall continue that way. What we've been doing is that we're at a good point of competitiveness where we have a healthy positioning today, as I consider that if we think about the apparel, the value proposition to our customers and the gradual margin gain. It's a dynamic living equation with variables that come in as now with a dollar going up. That That doesn't impact now, but it depends on all the other variations how we're going to have that with also freight costs. We have competitors that might reduce. It is a living organism. The current one that we have from balancing the price positioning and margin, we are very happy as we are. It varies in terms of cost and also from the positioning of other competitors. But I believe there is no abrupt shift in the market of having margin reduction to have greater sales or to increase greatly the margin. We are balancing for the gain to our suppliers, our customers, and our company. We have been able to balance that in terms of efficiency when there's pressure so we can have a better equation to all three stakeholders. Thank you, Fabio. Thank you. The next question from Vinícius Strano from UBS. Hi, Carla. Hi, Daniel. Hi, Fabio. Thank you for getting my question. I want to explore about what are your thoughts on expansion and penetration on cards from now on. Realize, as we see, has a better result, has been showing that for some time now. That gives you more confidence to actually accelerate credit concession. Well, thank you, Vinícius. I believe that when we look internally, it allows us to think about it. If we were to think just about the internal side of it, we can really broaden much. Our internal numbers are very healthy. Our homework, our model makes us feel more confident. So definitely, we can think about a greater credit expansion. However, we must remember that we are within a larger context and that we still see a scenario in the market that is a bit more of a concern when we see high debt levels and delinquency is still high, although it dropped, and interest rates are slightly increased. It's not as we had before where the credit volume was very broad available and there was a ramp-up of interest rates that was very accelerated from 2 to 14. So we see this gradual, but it is a situation that we prefer to be a bit more conservative. Yes, there is room for expansion, but we have been doing this in a way that is gradual, observing the market scenario we're in. Thank you. Thank you, Vinícius. The next question comes from Rodrigo Gastim from Itaú BBA. Hello, Gastim. Hello, everyone. This is Vinicius. Anyway, I want to understand, Fabio, in your opinion, what are the main operational gains, leverages that you're able already to capture at the end? Thank you. Thank you, Vinicius. Yes, it was. So we have 100% by SKU. So we're working 100% item by item and going through our distribution center and the leverages we've seen and also what we talked about in the last quarter. We reached a stable level. That means because we have the same level of lead time of service, 100% with SKU as when we worked with package. So now the leverage is higher. We have a level of service and lead time that is better than we had never had that before. Our track record of service level and lead time still working with 100% of SKU. That's a leverage on itself. The other one is very clear because one thing is the growth of sales online, which we see it's visible, but the growth of sales with less growth of inventory and with growth of margin, this is the leverage of the model where we're able to work with tighter inventory. It's not only the distribution center, but it's a whole process from end to end where we have the capture of trends through artificial intelligence that is faster, more assertive, a design for product development that is faster, production time is faster, integration with our chain of supply, and also a time of distribution that's faster and all having it in a granular space. All this together allows us to have a tighter inventory to increase sales with efficiency gain, less turnover of inventory with less expense growth. So this is a leverage of the model as a whole. What we see, we've been reducing expenses, but Daniel has always reinforcing this. Please, Daniel, you can add to that, but we still have a roadmap of continuous reduction of expenses as well as continuous gain of efficiency in terms of lead time, of service, and assertiveness of distribution. We're just at the start. There are gains. That's a leverage on its own, but the whole process, the whole system starts to evolve that will be incremental. We are at the starting point of the full potential of both expense and improvement of operations and service and capturing the whole potential we have. We will see by the end of 2025, not just at the end, but we have already been seeing, but gradually by the end of 2025, we'll see more and more improvement. And also, we should remember that for the next year, we're talking about having the main digital for our Cabreúva center where we see benefits of agility for the digital and integration also with transportation. This is a journey, as Fabio said, and we'll gradually see gains of efficiency and both when it comes to availability of the product with greater precision and agility at the stores and also when it comes to cost to have it all operational, the whole supply chain. It's an important step, said Daniel, in terms of the conversion to online, a better use of inventory, and also to have another phase of reduction of expenses. That's right. Next question from Danni Eiger from XP. Hi, Danni Hi everyone. Good morning. Thank you for accepting my question. My question in terms of working capital, although there was a cash increase, when we look at last year, it reduced because the increase of working capital when we talked about suppliers. I just want to understand. I know that this is most likely because you need to support sales with that. I do want to understand the drivers and how we can look forward. Thank you. Thank you, Danny. Well, when we see the lead time for suppliers, we don't have any worsening. What we see compared to last year, although there is a slight drop of cash generation compared to last year, it's still a very robust cash generation, and part of this difference is more related to the Realize portfolio. Last year, we had much from the late portfolios when we went through rounds of negotiation for the collection of part of the portfolio that was delinquent, and this was able to increase cash, but when we look at the generation of cash in retail this year, it is more than what we have last year. That's why we talk about the gain in the financial cycle. When we look specifically to retail 10 days, where 13 days is of inventory days. Very clear. Thank you. The next question comes from Felipe Reboredo from Citi. Hello, Felipe. Hi, Carla. Hi, Fabio, Daniel. [Foreign language] the whole team said, we want to understand a bit more how you see the optimal capital structure. Does it make sense to leverage a bit more because of the credit scenario and that the structure investment has already been done in the last few years? Thank you. Well, Felipe, I will allow Daniel to answer more of that. But I would say that in a scenario that is more unstable with high interest and the retail sector is well pressured, for when we look at the other players here, we rather with a moment like this to work in a scenario that we have a bit more cash and that has been positive for us. But I believe Daniel can explain more. There are opportunities, definitely. Well, first of all, it's interesting to take this opportunity to talk about what are priorities of cash allocation because it relates to what you said about capital structure. First of all, our priority is to invest on expansion and refurbishing of stores and in a selective way, our digital platform. We know that digital platforms are always evolving. You will always need to have some investment to keep evolving in what we call the journey of the customer in the digital. And right after that, we have the investment, for instance, in our brand new app where we have a growth of 27% for the quarter. It's growing 20% year to year. And we have a strong expansion of stores with Youcom, which is a priority. So we also carry on observing and seeing brands in the market where we see that there can be opportunities to bring new brands that can have adherence with our strategy of lifestyle and fashion and then can be an accelerator of our growth. And as Fabio well mentioned, we believe that nowadays we can have a level of cash and leverage less than what we had before. And we believe this is healthy and suitable to the moment we're in. It's something that we are always discussing internally, even with our board. And we will see the right moment when it makes sense to operate differently. Thank you. Thank you, Felipe. Our next question is from Irma Sgarz from Goldman Sachs. Hi, Irma. Good morning. Thank you for the opportunity. I want to know a bit more about the Realize operation and how you think about the trajectory for next year. I know you explained well from the risk standpoint and the moment of consumers, but I would like to explore a bit more the revenue of services if it grew well. If you could explore a bit more about that, if you see space to grow there when it comes to interest and also the increase of the portfolio, maybe it won't be very accelerated at first. And the other question is about the line of operating expenses in Realize. I understand also that there is an aspect related to payroll compensation that was provisioned for the third quarter due to better results. But other than that, within what you can say about processes and automation and making this operation even tighter, I want to understand if there's room to reduce more these expenses or is it a matter of growing the expenses less than growing the revenues. Thank you, Irma, for the question. In terms of Realize, the expectations we have. Well, we are fully confident that Realize is very important for our retail growth. Realize has been consolidated more and more as a financial agent and has as a goal to be able to reach and increase its customer base, but aligned with the concept of adding value to the operation. How can we bring differentiation so that we can align the growth of the base with the growth of retail? That is one of the goals at Realize for the next year. Obviously, we need to see how the variables of credit will work, but we believe that our model of credit today, advanced and has evolved, will allow us to carry on with the growth of origination and the rescue of those customers that were lost in the past to help the growth of retail. When it comes to expenses, one of the points that we've been saying is the change of the processing where we will have already this change next year, so when we talk about the processor, we will change the offer of the service. It will also allow us to be more efficient. So as Renner, which we believe the growth of revenue will be over expenses, we have the same belief for Realize. And the growth of the Renner card is still the driving force for the expansion of Realize. Thank you. Next question comes from Ruben Couto from Santander. Go ahead, Ruben. Thank you for the follow-up. Just to take this time here, could you talk about how was the sales evolution over the quarter? How was September? How has October been? I know it's a picky question, but I just want to understand the full dynamics if you could share, please. Okay, Ruben, thank you for the question. We don't disclose our sales per month. We talk about the year that we believe it will be quite normal, where we had an imbalance in the second quarter for external reasons, the climate changes with the flood, but we believe there will be a normalization for the year. And that's what we've been seeing, where the sales for the third quarter were slightly over our expectation. And the expectation for the fourth quarter as well, that will carry on within our expectation, maybe slightly over, but it's too early to affirm anything for the end of the year, as we must recall that most of the quarter is highly concentrated at the end of November all the way to the end of December. That's clear. As we explained, we are very well prepared for the events of the end of the year. What about the e-commerce that in this quarter had a highlight of increase? Do you believe there will keep being a growth there within the sales? Our expectation is that the customer will, I mean, they always choose where they want to buy, but we increasingly more have an integrated operation. It's one of the only ones in the market that has not only in the front office, but in the back office as well, where we have the inventory fully integrated of Camicado, Youcom, Renner. By the beginning of the year, we'll have that. And this makes us increasingly more being prepared for a customer to choose if they'll buy on, off, or a mix of both. If it's Omni, it doesn't matter. We have a flexible model now that if we grow one channel more than the other, it's fine for us both, bring growth and profitability to the model of our system. So yes, I believe there's an expectation. If we were to separate that the brick and mortar has a big growth potential, but the digital can have even more. It has been showing that, but it'll depend how customers choose. We need to be ready to be there for the customers as they choose and to have return on capital both in an integrated manner. And also to add to that, it's important when we see that although there was a strong growth in the digital with gross margin and leverage, they were still strongly present. And much of what we said that today our digital model has already an operation cost similar to that of the brick and mortar store. So the digital is one that brings an impact to the profitability in the period. Yes, thank you. Thank you. The next question comes from Andrew Ruben from Morgan Stanley. Hi, Andrew. Thanks very much for the question. I was hoping to understand even a bit more about the street versus mall store, how you saw the performance in terms of sales and margin for street versus mall. And as we think ahead to 2025, any color on the opening plans and again with your view of dividing between the two sets. Thank you again. A question of Andrew is to know the difference between the performance of street stores and mall stores and how we see the expansion going forward considering the two formats. Well, Andrew, thank you very much for the question. I would say that the profile, as we've been saying, of the street stores and mall stores are different in terms of the time of execution for the plan of each, the CapEx per square meter, and the cost of the street stores much less in general. We shall remember that in streets, when we talk about street stores, they are in small cities. We don't have street stores in main cities. There are smaller cities when sometimes they don't have a main mall, so for us, the street stores and mall stores, we're talking about small cities and bigger cities, and we have had great performance in both for the smaller cities and larger cities, but if we were to talk about a difference in growth, it's more about the profile of the target, so one that is not very relevant to us, which is a purchasing power that is lower, you end up having a performance that is a bit less, but that's not the type of information we can disclose. But I can tell you we are having a quite similar performance in both markets, and we're very happy with the expansion plan that we've been carrying out. And as I mentioned before, we're still in the process of budgeting for 2025. So most likely for the next call, we can give you an idea of the number of stores to open in new cities and existing ones. But at this point, we can, as we are now at the discussion level, if I were to give you any information now, it would be subject to variation. I believe there will be a slight growth of stores to be open and also a reduction of those that close. We made many adjustments in the last few years. So we believe in retail, you'll have one or another closing, but the number of stores closing the last two years was over what we had before because we did not close on the previous ones, so we adjusted accordingly, specifically for Camicado, and from now on, from 2025 on, it would be a more insignificant number, so less stores, and on its own, already brings us a net expansion that increases, but we also expect to have a bit more opening stores, and also, Andrew, when we talk about our expansion plan, those components that we always have here that we like to talk about, for instance, a gross margin of these stores that we open in cities where there's just one Renner store, the cost of operation by square meter is lower. The ramp-up of stores when it comes to speed of reaching a higher revenue, we see that the model is aligned with the expectation that we have. So we are happy with what we see. And as Fabio mentioned, our goal is to speed up the growth. We will complete our budgeting for the number of stores that we will be committed to opening, but definitely, it is a priority to us. That's very clear. Thank you both. That was our last question. With that, I close our Q&A, and I pass the floor back to Fabio for his closing remarks. Thank you, Carla. Thank you, everyone. I'd like to thank our team for their engagement. Thank our partners for the results. And this is because of our greater purpose of enchantment and honor, and I'm very proud to lead and take part in this team. And I should also take this time to thank you all, and especially the trust of our shareholders and the collaborations and the provocations of our board. So we are confident in our strategy, not only for the next quarter and year, but for a long cycle of consistent growth. Thank you very much, everyone. Thank you. Thank you.