{
  "report_rows": [
    {
      "kpi": "Net sales",
      "prediction": "BEAT",
      "answer": "pred ~$1.03B vs. cons $1.01B",
      "confidence": "MEDIUM"
    },
    {
      "kpi": "HOKA net sales",
      "prediction": "BEAT",
      "answer": "pred ~$716M vs. cons $705M",
      "confidence": "MEDIUM"
    },
    {
      "kpi": "Diluted EPS",
      "prediction": "BEAT",
      "answer": "pred ~$0.89 vs. cons $0.85",
      "confidence": "MEDIUM"
    }
  ],
  "guide_rows": [
    {
      "kpi": "FY2027 net sales",
      "prediction": "LOWER",
      "answer": "guide ~$5.89B vs. cons $5.91B (FY2027)",
      "confidence": "MEDIUM"
    },
    {
      "kpi": "FY2027 diluted EPS",
      "prediction": "LOWER",
      "answer": "guide ~$7.38 vs. cons $7.48 (FY2027)",
      "confidence": "MEDIUM"
    },
    {
      "kpi": "FY2027 HOKA growth",
      "prediction": "UNCHANGED",
      "answer": "guide ~11% vs. cons 11% (FY2027)",
      "confidence": "MEDIUM"
    },
    {
      "kpi": "FY2027 gross margin",
      "prediction": "LOWER",
      "answer": "guide ~56.5% vs. cons 56.6% (FY2027)",
      "confidence": "MEDIUM"
    }
  ],
  "day1_residual_pct": -6,
  "day1_confidence": "MEDIUM",
  "day5_residual_pct": -8,
  "day5_path": "FOLLOW-THROUGH",
  "day5_rationale": "FY2027 EPS guide ~$7.38 vs. consensus $7.48 leaves out-period estimates facing cuts despite a Q1 EPS beat of ~$0.89 vs. $0.85; unchanged HOKA and margin assumptions do not validate the Street\u2019s higher full-year math.",
  "day5_confidence": "MEDIUM"
}