DTC direct-to-consumer “+” or “up” increased “##M” in millions of U.S. dollars DTC.com DTC e-commerce “-” or “down” decreased “##B” in billions of U.S. dollars DTC B&M DTC brick & mortar LSD% low-single-digit percent c.c. constant-currency y/y year-over-year MSD% mid-single-digit percent M&A mergers & acquisitions U.S. United States HSD% high-single-digit percent FX foreign exchange LAAP Latin America and Asia Pacific LDD% low-double-digit percent ~ approximately EMEA Europe, Middle East and Africa low-20 ...