Good morning, everyone. Thank you for your presence during the fourth quarter 2025 earnings call for 2025. I have Salazar, our CFO, and Toya, our IR director, excuse me. I'll show you the main highlights for the year, strategic initiatives, and then Salazar will talk about the financial performance, and then we will open up for Q&A. Let's move on to the highlights of 2025. The fourth quarter ends the year with relevant changes. We have determined new strategic planning that internally we nicknamed Destrave, which is unlocking, to unlock a new growth cycle through many initiatives that strengthened our operation. I'll go into further details in the other slides. Through the Destrave project, we've achieved results that make us feel confident in 2025, and we ended with net income BRL 7.7 million, growth of 8.2% year-over-year. Mainly in the second quarter that really reflects the project, we grew 10.7% year-over-year. Even in an intense scenario of investment, we maintain net income at stable levels, ending the year at BRL 427 million and supported leverage at a controlled level of 0.96x. It was the highlight of the year, showing the growth. Net revenues grew 11% and digital or 13%, 11% stores, 20% in digital. We see the double-digit growth in both channels of Centauro as of the third quarter because of Destrave. Annual gross margin, which was record, 50.3% for our highlight Centauro. In Fisia, we had growth in all channels, especially wholesale, which is a main priority for the year. The channel grew 23% in the quarter and 25% in the second half. Stores grew 7.3% and digital 3%. One of the priorities of the year is the expansion and modernization of the chain, which also had important aspects. In Centauro, we had four new stores and concluded nine refit projects during the year. I'll talk more about that later. In Fisia, we've inaugurated three new stores in the NDIS stores, full price, one NVS, and expanded two other NVSs. Okay, let's talk about the strategic initiatives at Centauro. About Centauro, the focus was to target our energies and improve operating model, especially in brick-and-mortar stores and improving our assortment. In the Destrave project, we started a new strategic cycle with relevant investments in the operation. We reinforced the sales team by adding 900 employees in the stores, in addition to increasing their agenda of training and qualification. Relevant changes to assortment. With new commercial management focusing on priority categories, we counted on relevant advances in the assortment available in brick and mortar and digital, in addition to more discipline and curatorship of distributing per category. As a result, we decreased 5 percentage points in inventory of past collections, ending the year with only 7.8% share. The effect of these investments as of the second quarter reflected on the results. We achieved net revenues of BRL 4.1 billion, a 13% growth year-over-year. Same-store sales for the year was 13.8%, an advance in sales in all of the priority categories. In addition, the main seasonal events in the fourth quarter were very consistent with the evolution of the operation. We grew 22% in Christmas, and Black Friday in the digital channel, we had a 14% growth. Last, as I had mentioned before, 2025 represented a significant evolution in the agenda of expansion and modernization of the stores. Reinforced the engineering team, so we can expedite the rhythm of stores during the year and the upcoming years. In fourth quarter, we opened two new stores, four in the year and concluded nine refit projects. I'll talk more about the refits. The refit projects in the traditional stores that we started last year are already bringing on exciting results. The nine stores that underwent the refits presented a 12.9 percentage point growth over the other stores in the same area. Still short term, but we're very excited about the results. In 2026, Centauro will continue with an even more intense agenda of refits and specifically concentrating that during the period before the World Cup. Now let's talk about the Fisia strategies. At Fisia, we had three strategic priorities: recovering growth in wholesale, increasing the presence of Nike in Brazilian soccer, and evolving the running strategy. In wholesale, we consistently recovered the growth of revenue, especially after the second half. The channel grew 28% first quarter and 23% fourth quarter. That's a result of an improvement in service, and as a result, in the fourth quarter, we launched the Nike.net portal for our channel customers. We inaugurated a new showroom in the neighborhood of Pinheiros in the same Fisia office and increased the number of events with our customers, during which we present our collections. Now about strategic priorities of Fisia in soccer. We renewed our partnership with the Corinthians club for another 10 years and made two new sponsorships official with Atlético Mineiro and Vasco da Gama. The uniforms have been widely accepted with a highlight to Vasco showing a greater volume of sales in soccer launch in the past Fisia years. Still, in this quarter, we started the launch cycle for the World Cup, a casual jersey for a Brazilian team goalie. In running, we're focusing on the road running strategy with the franchises Pegasus, Structure, and Vomero. Highlight to Vomero Premium that sold over 1,200 pairs since they started. In addition, Nike also announced that they will be the master sponsor for SP City Marathon as of 2026. This race that has. There's over 26,000 runners in the city of São Paulo. It will celebrate its 10th year and will be called Nike SP City Marathon. Two more highlights now. In logistics, we achieved the certification of Authorized Economic Operator. That's something that shows that we are reliable and secure. This means we will be able to clear customs while still at sea on the ship and employ capital. We've implemented ICMS tax incentives in the stores and wholesale, and that's very important to mitigate the FX impact. Now over to Salazar. He will go into the financial details. Good morning, everyone. Thank you, Gustavo. Now I will talk about the main financial indicators. We are very satisfied with the company's results for the year. As Gustavo mentioned, based on operations and also the financial aspects, we believe we are very well-positioned to sustain 2026, which will be a very important year for the company. Here I will repeat what Gustavo already mentioned. It was an exceptional year for Centauro in terms of unlocking our growth, which is our objective. We had a growth in the fourth quarter of 15.8%, same-store sales of 15.7%, increase in revenues per square meter of 12.2%, a growth in the average ticket of 27.6%. We also had quality in services provided, which was increased an NPS of 92. That means it's 6.1% higher in stores year-over-year. The Christmas campaign was very strong with a growth of 22%, and all of that in the stores. In digital, we already see a good recovery in terms of growth. We had great performance in digital, 18.7% growth. Some of the significant highlights are 31% in running shoes. We also had growth during Black Friday year-over-year, which was 14%, always trying to have strong financial discipline without putting too much pressure on the margin through discounts. Those points are very significant. Therefore, based on the point of view of unlocking Centauro's growth, in addition to maintaining margins at very satisfactory levels, I do believe we've achieved very good results. Moving on to Fisia. As Gustavo mentioned before, growth in wholesale. I believe that was one of our objectives, and it is very important. We were able to achieve the 23% growth in 4Q25. We did many things to improve our relationship with partners. We also implemented a tax incentive that was full in the fourth quarter. In digital, we had great growth, 12.6% revenue in 1P. That goes to show that after softer growth resulting from the price recovery and reduction of discounts that we had in 2024, I would say that 2025 brings us to a new level in sales in digital. As from that point, we are going back to normal growth. Highlight in NVS as well, we were able to improve the assortment in the stores, and we had good performance. On celebratory dates during the end of last year, growth of 9.5%. In NDIS, we believe that it is a very positive avenue for growth for the company. We've expanded three stores. We had an evolution of average ticket of 14.3%. Obviously, we did sell more, 31.7%, and that consolidates the perspective of opening stores in that type of model. We believe it's a winning model. Whenever we have a good point of sale, we should open a store because the result of this type of store model is very good, and there is very low penetration in that. In Fisia, we had an FX impact in the fourth quarter. We already expected that. In the gross margin level was pretty much offset by the tax incentive. It wasn't fully offset, but partially. Anyways, we do believe that this is just a circumstance. It was the fourth quarter, a higher FX rate, and we also had a mix, wholesale growing, and we had a little bit of pressure in FX. Or sorry, in the margin because of the mix. Since wholesale grew a little more, we had that impact. We started to adopt the complete tax incentive. We finalized the project in the second and third quarter of 2025. In the fourth quarter, all the tax incentives of the company were fully operational. That was also a very important factor, so that during the year, we will be able to mitigate the effects of the FX rate on Fisia. Here we can see the company's growth overall. We had 11.8% growth in the fourth quarter. We can see that the margin during the year was pressured, especially by the FX rate at Fisia. Part of that pressure was offset by the tax incentives directly on gross margin and the other part offset in net income, given a lower effective rate. The tax incentive is not taxed. We were able to navigate successfully in 2025 with a very huge challenge in the FX rate being offset by the tax incentive and by implementing the process. Based on operations in terms of implementation, it's very complicated. I believe that in addition to unlocking Centauro's growth, we were able to offset the FX effects in the year. Also we were able to prepare Fisia for a year that we may have a favorable FX rate as of the second half next year. We were able to navigate that temporary aspect in 2025 and with tax initiatives that were very successful. In expenses, you can see very strong control of the company's operational expenses, especially in corporate, what we call business support. Obviously, the other side of the Centauro growth is mainly connected to the initiatives that were already mentioned by Gustavo in the increase of personnel in store. We also have a growth of variable compensation as we have better sales results for the salespeople. As the number of salespeople grew in stores. We have a challenge in the distribution center because with more robust growth, we had to add more people there as well. We also have people that we hired for the new Centauro and Fisia stores. We also have an increase in royalties given the preparation for the orders that will be received connected to the World Cup. We're already getting these orders. In practice, that means a different seasonality as 2026 is a different year because of the World Cup. To have good growth in two-digit growth in both business units, we also grew the marketing and performance expenses. It's a great commitment with a guarantee of expenses that are under control. On the next slide, we can see EBITDA in the fourth quarter. That's mainly impacted by the FX rate. Robust growth impacted by a lower margin given the FX impact. We recover a part of that through net income with a lower rate of tax. Another objective in 2025 was to maintain in a faster growth environment with higher working capital given the World Cup and the preparation for the World Cup and given higher indebtedness. We had a strong objective in our heads of maintaining net income of 2024, which was a year with a more under control working capital lower and lower debt. Even during a moment of expansion, to get ready and growing the inventory, and to get ready for the World Cup, and given the growth that we saw in 2025, we were able to maintain net income stable, so to speak, a small growth of 2.4% in 2025 year-over-year. On the next slide, as I mentioned before, the financial cycle grew or got worse in 13 days, mainly because of the inventory that increased 18 days. There are two things that are happening at the company that we can see. It's growth. The company has been growing double digits the whole year, so we have to increase inventory to face that growth. We're getting ready to receive products for the World Cup. Balls, soccer balls, and other products related to the World Cup that's still part of the fourth quarter. That was part of the plan that we had forecast. It's the main variation that we have in working capital, and according to business as usual. On the next slide, we have cash generation, the evolution of net debt. We have BRL 387 million. Part of the EBITDA was consumed given the investment in working capital, and then we had higher investment of approximately BRL 400 million. We used those funds, investing them in the stores, especially in IT. We have a higher financial debt, so that requires the payment of interest. We paid dividends in June, if I'm not mistaken, approximately BRL 123 million, and we also had a share buyback program. As a result, the FCO being used to cover our investment, and we grew the debt to pay the financial obligations. Even so, we maintained healthy leverage and lower than what we deem is the maximum possible. We have a level of indebtedness of 0.96 EBITDA, which we believe is very good, especially during this phase of investments that we're going through right now. I think that's what I had to say. Let me see if I had anything else. Over to Gustavo so we can conclude and then move on to the Q&A session. Thank you, Salazar. We believe that we're ending 2025 with the objectives achieved, and the Destrave objectives are showing in effect. We believe that we're starting 2026 on a good note and very ready to capture the opportunities for a year that has such a relevant sports calendar. We'll move forward in 2026 with an agenda of structuring projects, including the implementation of some secondary distribution centers to improve distribution and allocation of products. Once again, we're going into a second year of a new strategic growth cycle, even more confident in our capability of executing. Now let's begin our Q&A session. We will now begin the Q&A session. To ask a question, please click on Raise Hand. If your question is answered, you can leave the queue by clicking on Lower Hand. Our first question is from Mr. Rodrigo Gastim from Itaú BBA. You may ask your question. Good morning. Good morning, everyone. Vicky, Gustavo, and Salazar. Two questions on my side. The first one about the Centauro top line dynamic. That's what stood out to me the most in this quarter. I'd like to understand what's behind that comfort in revenue evolution. Understand a little more how you measure and capture the investments that you had in employees, which reflected in better productivity in the stores. If in the beginning of the year you already have a perception of maintaining the rhythm, that's something structural in capturing the Centauro revenues increase. That's the first one. About gross margin and Fisia, as you mentioned, Salazar, there was a scenario effect there, especially in 2025 from the FX rate. So how do you see the dynamic of gross margin for Fisia across 2026? What do you believe in terms of behavior as you're also capturing the tailwind of lower taxes across 2026 or a rate that's lower? Sorry. Gastim, thank you for your question. I'll answer the first part about our confidence that we're structurally capturing the growth of same-store sales in Centauro, and then I'll hand over to Salazar. He'll talk about gross margin and the FX rate. Moving forward, we're very confident about our capability in delivering Centauro growth. All the strategic initiatives that we used across 2025 had a very positive effect. The first action was to strengthen the sales team. We created dedicated frameworks for the priority categories. We brought in a director for footwear, a director for soccer, a director for apparel, and director for complementary categories. What we observed during the year was the growth in all categories. Footwear, yes, it definitely drove growth across, I would say, almost the entire year. In soccer, we saw growth as of the third quarter. Complementary categories at the end of the year grew as well, increased their growth, and apparel has been growing for a while now. Without a doubt, that is very likely the result of a very in-depth and detailed analysis of the products that we should allocate in all the different stores. Another important factor for this growth was the addition of 800-some new athletes. Part of them were salespeople. There's a part of a store that's assisted sales in footwear, and there's the self-service. We highly trust that the salespeople that we brought into the operation were very important for growth, the expedited growth of footwear. A very important metric that we look at is average sales per salesperson. We've observed that metric during the year, and we saw that that remained stable. It's very clear that in previous years, we didn't have the ability to service all our customers. Especially in the smaller stores with less salespeople, we saw even higher growth than the other stores that in a way were prioritized stores. We saw an expressive increase in the NPS, which is also a direct result of having more athletes in stores assisting our journeys in their purchase experience. Lastly, the other strategic initiative, which is very important for us to unlock growth, especially in the older Centauro stores, is the refit project. We have nine refits last year, even though we still have a very short period of analysis. We're very excited with these results. The stores grew almost 13 percentage points more than the other stores in the region. Well, we continue to be very excited. We started to capture these results as of the third quarter. With the maturity of the new athletes that joined the stores, we have a very intense agenda for training, not only for the salespeople, that would be more technical to sell our high technology products, and training in terms of process for the self-service people. The team is increasingly more mature. We do believe that there's still an upside to capture there in operations in the store. The commercial team that's stronger is seeing their purchases come into the store. Last year, they were complements of what they had already done, better allocation of products, and now we have the new ones. We'll have more refits this year, especially before the World Cup, to ensure that that can be paid off during the year. We do hope that the refitted stores will have same-store sales as good as the ones that we've seen in such a short period of time. That's the idea. We're very confident that the growth will be sustained. Now over to Salazar to talk about the second part of your question. Hi, Gastim. How are you doing? For Fisia, in our mindset, we see the margin improving as of the second quarter, because then we will have the World Cup effect. We will be selling the Brazilian team jersey. That's the one that usually has a great margin. As of the third and fourth quarter, we will see the opposite of what we saw in 2025, which was more favorable FX rate to buy products. We will have an impact that should be very positive. All things going well to Fisia's margin. That's the calendar that we expect for 2026. Did we answer all your questions? Thank you. Excellent. Salazar and Gustavo, thank you very much for your answers. Next question is from Gustavo Senday from Bradesco BBI. Go ahead. Good morning, everyone. Thank you for taking my questions. I also have two questions. First of all is about the Fisia growth for 2026. Could you give us the details in the growth per channel and DTC? We see same store a little bit under the full potential of the brand. So I'd like to know what type of adjustments have to be made. I know you have to balance out the channels better. Wholesale may have impacted brick-and-mortar stores, but what can you do to prepare the stores for the World Cup? Do you need to make any adjustments? That's the first question. Second question is SG&A. You went into the details in the release about the company's investments, OpEx, Centauro headcount, and understand the investment rate OpEx moving forward. If we should expect that 2026 could be diluting those investments, what's structural and what's more circumstantial in terms of investments that were made across 2025? Thank you. Thank you, Gustavo, for your question. I'll talk about strategy, and then I'll hand over to Salazar, so he can talk about SG&A. To the first part of your question was the growth in Fisia with the different channels. Well, I would say, first of all, that the fourth quarter was very exciting. We saw wholesale maintain the consistency in growth, and we are very confident. Well, let me take a step back first. First of all channels will benefit from the World Cup and the sponsorship of the two new soccer clubs. All channels will benefit from strengthening the running and soccer categories. There are some idiosyncrasies per channel. In terms of store, not only the NVS, but also NDIS, we will see a more well-planned assortment in the stores. We saw leftover inventory for the past years, and that affected the accuracy of allocating the products in NVS. For now, products that go into NVS are much better planned. We have a portfolio from leftovers from the industry. NVS will perform well. Last year, we strengthened the store teams, and we changed commissioning to ensure that personnel were better compensated so we can attract better salespeople to service our consumers better. We're very comfortable with the growth perspective. Finally, in digital, we'll also benefit from a portfolio improvement. We'll see that there's a more effective aspect in customer lifetime value. You'll see that in the past 20 years is much higher than the other customers. Even in the context of the fans for Vasco and Atlético, we've had a constant improvement in the technology platform. In general, we're very optimistic of the individual performance of each one of the channels. Let me hand over to Salazar now. Hi, Gustavo. I believe the answer is, first of all, obviously, for 2026, we have an annualization of the additional store expenses that we invested in in 2025. The investments, the increase of these 900 extra people in stores started as of April, May 2025. The first quarter of last year, we still hadn't made those investments. I believe that that's a point that will take place in 2026. You'll have the full- year of those expenses, the full- year of growth, and also the full- year of the expenses. Our expectation is that we will use part of the increase in gross margin that we'll have next year and invest some of that in the business. Gustavo mentioned in the beginning the investments in logistics, distribution centers, so when you do that, you create some small distribution centers, service centers. You have people to operate the distribution centers, so obviously we would imagine that across time we'll have a better assortment in sales, we'll have lower rupture in stores that will obviously pay off those costs. In most part, what we have for the year is also higher investment in marketing because of the World Cup. That's normal. Have better results because of the World Cup, but those better results, that does improve the general results and bottom line for the company. We will invest more in marketing because we have to tell the World Cup story, the story of the Brazilian team, and for their jersey. In general, I would say that those are the three main points that we can see now in the short term. We see an analysis of investments in stores, marketing growing because of the World Cup. It's positive, but there's investment in marketing. Part of the gross margin expansion in logistics. I believe those are the main points for 2026. Not sure if we answered your question. Excellent. Thank you. Next question is from Eric Huang from Santander. Go ahead. Good morning, everyone. Thank you for taking our questions. We have two on our side. One of them is a follow-up to Gastim's first question. So maybe quantify out of the three main points that you brought, Gustavo, how much of that helped in same stores? Maybe the fourth quarter where you have a full effect, so we can think about how they can work tomorrow, maybe the different steps in the initiatives. And second, you have optimized your customs clearance with Fisia, so I'd like to know how many days now you used to have for customs clearance and mainland, and now that it's gonna be done on the ship, would that be a gain for your working capital and inventory? Thank you. Well, thank you for your question, Eric. First, about the results of the Destrave initiative, and if we can individually quantify how much each one of them contributed towards growth in the third and fourth quarter. The second one is the impact of the new certification that we have and inventory days. With the first one, it's very hard to individually quantify that because the initiatives complement each other, and one impacts the other. What we can say, footwear grew the most, not only in the quality of the purchase in the way that we distributed footwear to all the stores, but also by the addition of salespeople. That's positive. You can open up the assortment to stores that were serviced by few salespeople and then older inventory that you didn't have sufficient sales force to generate inventory. Now we can feel more secure in opening up more assortment for different stores because you will have a well-trained sales force that could increase sales because of the higher inventory. In 2024, we found that growth was highly dependent on the growth that we observed in the high-power stores. I think we grew 7.4% in 2024, but you can see that distribution of growth was not that big because we had a long tail stores that didn't have the same growth of the others. In 2025, that's what we wanted. It's what we imagined. We believe that we could unlock the growth in the low-power stores. The fact that we did give them more assortment and people, those stores did have significant growth. Footwear is a very relevant category, so when the category grows, we can see that the average ticket grows a lot. You can see that ROIC of each one of this additional sales personnel is very positive. We do believe that there's still some fine-tuning to be done. To size the number of salespeople per store in a more accurate manner, of course. I believe that we can still capture some opportunities this year through the purchases done through the new sales personnel in stores and unlocking the stores that will go through the refits. We've been seeing that it's incremental growth that's very significant. We still have 100 stores to refit. We want to expedite that this year and next year, so showing that there's an impact still. Quantifying that individually is very hard. If not impossible, but when they're combined, they give us long-term sustainable growth. The second part is about the new certification, the AEO. Salazar. I'll hand over to you. We have a range of possibilities in this case. We believe that in worst case scenario, we would have an improvement to our inventory days of approximately three days, and best scenario, we would have an improvement of approximately eight inventory days. That still is highly dependent on operations. We can learn how to do that better. We haven't done, and to accept that. I'm not going to give you an exact number. It depends on some aspirational aspects because we're starting that now. Three to eight days, I do believe is potential days that we can consider and estimate. Okay, great. Thank you for your answers. Our next question is from Dani Eiger from XP. Go ahead. Good morning, Salazar and Gustavo. Thank you for taking my questions. I have two. First of all, about the competitive environment, you mentioned that there was an increase in promotional intensity, and another player was talking about that. I'd like to understand how you've seen that in the beginning of the year. What are your expectations across the year, your own initiatives, especially related to Fisia, the World Cup, so on and so forth. Whatever you can share with us in terms of promotional environment. My next question is about similar to the margin dynamic, so the effect of the stores that are closed for refitting, right? You were mentioning focusing more on that in the beginning of the year. I'd like to know how many would be fully or partially closed in the beginning of the year, and if that would be a challenge to grow in the beginning. I imagine that you would offset that based on what Gustavo mentioned, and that's on the release about the 13 percentage points of a better performance during intense seasonality, which would be the third quarter with the World Cup. I'd like to hear of that, please. Thank you. Hi, Dani. Thank you for your question. The first part is about the competitive scenario and how we see the beginning of the year, if there are more or less markdowns. The second one is about the impact of the closing and opening of the older stores in the beginning of the year. I'll answer the first part, Salazar can answer the second one, and then I can add to that if you wish. Dani, we did see a more competitive scenario, especially during last year's Black Friday. We saw new players being aggressive and with the discounts, especially during Christmas. To be very honest, I don't really see a structural difference compared to 2024. It's a very similar dynamic that we've been seeing, not only in 2024, but 2025. Now in 2026, I don't see a reason for any structural changes. Quite on the contrary, I see the launch of a World Cup collection, not just by Nike, but all the other brands that somehow support the competition in sales that are full margin, healthy sales. I can't really imagine any deep changes in the competitive scenario in 2026. Salazar, second part. You're mute. Sorry. Well, I'll start answering, and if you wish, Gustavo, you can step in. Danny, we have 50 refits for this year. We want to start 25 by the end of March. That means that by the end of March, we will be starting 25 and finishing all of them in the second quarter. After that, in smaller power stores, so to speak, for the World Cup, we should have 15 more refits during the second quarter. That would be 25, 15, meaning 40, and then the rest for after the World Cup. The refit dynamic is. This is on average, okay? It's important to mention because some shopping malls want something specific, so we can't do exactly as we planned. On average, what we've been doing is closing the store partially during the refit period. The refit lasts approximately two months. We close 50% of the store in the first month and 50% in the second month. We have a drop in 50% revenue on average. If the results that we've seen in the first refits that we had, what we will most likely see is a recovery as soon as they open. The stores will be ready and relevant. The stores that are relevant for the World Cup will be ready, and with that dynamic, closing 50% of the store during that period and then recovering that with extra sales given the refit that was done in the store. That's the idea. Did I forget and leave anything out, Gustavo? No, that's perfect, Salazar. Did we answer your question? Yes, you did. Thank you. Next question is from Isabella Lamas from UBS. Go ahead. Good morning, Gustavo. Good morning, Salazar and the IR team. Thank you for taking my question. Just one thing on our side about Fisia. We'd like to explore some of the data in Fisia, especially the NDIS stores. The average ticket growth was almost 15%. Growth of items sold was close to 32%. First about the ticket, is it a result of mix? Is there a price adjustment as well? And in volume, what are the highlights? You mentioned soccer categories and running doing well in NDIS, but there are other subcategories and specific products that you could talk about which contributed towards that performance. Thank you, Isabella, for your question. I'm going to repeat your question, add if I forget anything. The question is about the details in growth that we found in NDIS. Average ticket grew 15%, and I'll try to explore why there is or about the growth and the volume, the 32% in items sold. Details about categories and products. Thank you. Composition of average ticket, average price per coupon, and there's a very relevant impact when we analyze the value per se. We've been doing many initiatives, as we did with Centauro, to increase the number of items per coupon. Our athletes should follow the entire purchase journey and try to maximize in a very friendly manner. We've also seen growth in the running category in performance system. Road running is a high price. I think it's everything, average price, items per coupon, and mix in categories. I think that's it. We're making the model more mature. We started off with a few stores. Now we're opening more stores, and we're making the model more mature. As that becomes more mature, it becomes operationally better. That's the only thing I'd like to add. Okay, thank you. Perfect. Thank you. Good morning to all of you. Next question is from Felipe Resch from Goldman Sachs. Go ahead, Felipe. Good morning, everyone. Thank you for taking my question. I'd like to go into details. I know there are reforms and modernization that you had, but I'd like to see the opportunities that you have to expedite the expansion progress such as in Centauro and Fisia. Are there any specific regions that there's more space to grow? How do you see those opportunities in the medium term? Maybe it's not to be expedited now, but that would be very interesting. Well, thank you for your question. This is about our perspective to open new stores. You said that well. Focus is on refits. We're talking about refitting 50 stores. That said, we're always talking to entrepreneurs, and if there's an opportunity for Centauro, we will definitely open stores. We see more opportunities to open NDIS. That's the full-price Nike store. We currently have 12 stores. We see very powerful shopping malls with brands that have the same Nike profile and could definitely carry an NDIS. We believe that it's still under-penetrated. We need to have 800-1,000 meters in space, and in the high-power of shopping malls, that type of opportunity doesn't appear every day. The positive side is that Nike has a huge appeal for all shopping mall entrepreneurs, so the conversation is constantly happening. In summary, we're focusing on refitting the stores. For new points, we are prioritizing NDIS. It's not an expedited agenda in the short term, but it's a conversation that takes place every day. We're fully capable of opening, especially NDIS. Salazar, would you like to add to that? No, that's it. Perfect. Thank you. Very clear. Thank you. Other questions received by the Q&A icon will be answered by the IR team. The Q&A session is now over. I'd like to hand over to Gustavo de Lima Furtado for his final remarks. Thank you very much for your participation in our conference calls, your interest in the company, our shareholders, and especially our team of athletes that have been delivering great results in the past quarters. Thank you once again. See you next time. The Grupo SBF conference call is now over. Thank you for your participation, and have a great day.