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$EL 4Q15 Q&A: Wissink from Piper Jaffray asked about the guidance. Tracy said, growth levers that we have in FY16 are much like they were in FY15. We saw tremendous strength in makeup category. Certainly over next three years, we expect one-third split between margin expansion & gross profit marginl; & two-third is coming from expense leverage.
No better outlook on $MSFT. Even if the results beat a bit, the stock may move 4 to 6% higher, but won't go above $60.