Bill Shea: Yes. Inbound freight is down dramatically. And what we’re paying on containers today is significantly below what we were paying a year ago. That hasn’t fully flushed through the P&L, yet we saw — certainly saw some benefit of that in Q2. We’ll see more of that in the second year. And certainly, as we head into fiscal ’24, as we replenish inventory, there will be even — it will be even lower. It just impacts the food side of the business more inbound freight, because on floral, it’s not as impacted as much by inbound freight as the food brands are. Outbound freight affects everybody. It affects the food brands, it affects PersonalizationMall, and it affects the 1-800-Flowers. From a fuel perspective, we’re still paying a higher — fuels off its high, but fuel surcharges in the second quarter were still higher than they were a year ago.
So, again, off their highs of maybe March, April, but certainly still significantly higher than where they were in December of — November and December of a year ago. So that was still a headwind as we went through the second — as we went through the second quarter.
Linda Bolton Weiser: Okay. Thank you. That’s helpful. And then, I’m just curious about, like, some of these competitors that have been out there, and I know they’re all small, but some of these small up and coming, I guess, mostly in the floral side that venture capital-backed type operations, have you seen any of them kind of go away because of the softness in this everyday gifting? Like, what have you seen in that kind of competitive landscape out there?
Chris McCann: Sure, Linda. I think over time — as you’ve seen with us in the floral industry over time, if we go back a number of years, there seems to always be a few new entries that come in and wind up fading away, and we’ve seen that with a couple of businesses. Some of the startups out there now, I don’t know their current status, but any business that’s out there right now that needs to raise cash, I think, is in trouble. And if you’re going to need to raise cash right now, you’re going to pay dearly for it. So, I think that could, I’m not saying we have seen it yet, but that could hamper some of the competition we see on the floral side or on the food side as well, and even in personalization space for that matter, it’s just kind of across category for us.
So, we’re not seeing — as Tom said, Valentine’s Day continues to be a competitive scenario. It’s the same players we’ve seen in the last year. Nobody has come or gone really new in the past year. So, no real change on the competitive landscape. But I question their go-forward viability in this environment.
Linda Bolton Weiser: Okay. Thank you very much. I appreciate it.
Chris McCann: Thank you, Linda.
Operator: And this will conclude our question-and-answer session. I’d like to turn the conference back over to Chris McCann for any closing remarks.
Chris McCann: Cole, thank you, and thank you all for your time and participation this morning. As we stated, we had a very successful holiday season and we’re well positioned — as we’ve been saying, well positioned to a bigger, better, stronger company than we were pre-pandemic, and we’re very bullish on the future outlook of the company. So, I thank you for your time. And again, a reminder, it’s not too early to order your Valentine’s orders, and we all have many Valentine’s in our lives. So, we’re here to help you if you need it. Thank you.
Operator: The conference has now concluded. Thank you for attending today’s presentation. You may now disconnect your lines at this time.
