Operator: And our next question coming from the line of Matthew Boss with JPMorgan.
MatthewBoss: And congrats on another nice quarter. So Fran, at the Abercrombie brand, if we take a step back, could you speak to product versus pricing? Meaning, how have you repositioned the assortment and maintain competitive pricing? And then what elements of this turnaround are you applying the Hollister brand today? And then, Scott, with inventories down 20% exiting the quarter, could you just speak to the ability to chase into continued demand momentum in holiday?
Fran Horowitz : So a, it’s really exciting. So as you watch the evolution with us of the brand, we’ve gone really from a jeans and t-shirt brand to a lifestyle brand. And that has afforded us the opportunity to expand both our age demographic as well as the categories that we are offering. Now the journey reaching our 11th consecutive quarter of growth is probably less based on reduced promotions for A&F because we’ve made a lot of progress over the years, and there’s a lot of mix happening. And the consumer is responding to categories like outerwear and dresses. And we’re seeing her respond based on obviously value and the fashion that we put out there for the price point. So as I’d like to say, products voice experience actually equals AUR and what the consumer is willing to play and pay for their goods.
How do we apply that to Hollister? We work on playbooks here. So we had a playbook for A&F. We started with women’s. We then went to men’s, same thing in Hollister. We’re seeing nice progress in girls. Now we’re working on the guy’s business. And we’ll continue to roll that playbook out now geographically, right? We’re rolling into international and seeing success across all of our regions as well.
Scott Lipesky: On the inventory side, our ability to chase, we’ve been doing it all year. When we started the year with a sales outlook kind of low single digits, 1% to 3%, and now we’re talking about 12% to 14% for the year, and we’ve been able to chase into that inventory as we’ve come throughout the year. Huge thanks to our teams, planning merchandising sourcing. It’s hard to run the business this way and we put up a lot of process, and it takes a lot of hard work. But the teams have just chased into millions and millions of units this year. And so if there’s upside to be had here in Q4, we’ll go get it. We’ll turn our inventory faster. We’ll bring in the next and so I’m confident in that ability.
Operator: Our next question coming from the line of Marni Shapiro with The Retail Tracker.
Marni Shapiro : And if I forget, best of luck this holiday weekend. Can you talk a little bit just about 2 quick things. How are you thinking about store growth for next year with the success of these smaller neighborhood stores for Abercrombie? And then could you also just talk a little bit about dipping back into Hollister, really great improvement in the assortment there. I guess, what are the thoughts on the guide side? Has it not been as strong? Or is it just a harder customer to sell to because they’re so picky and difficult and so trying to figure out what they want?
Fran Horowitz : Let’s start with the first question on store growth. So we, as you know, have been on a journey with our stores for many years. Now it’s exciting that we’ve actually been able to open up these neighborhood stores. That is probably not something we could have done years ago, but where the plan is today. We’re seeing nice growth [indiscernible] I was just actually in New York last week, walking our SoHo and our Flatiron store, and it’s so exciting to see this local customer coming in. We’re selling — are coming in. They’re continuing to come in. We have an opportunity, as I mentioned in on several of these patients throughout the U.S. and possibly internationally as time goes on. We haven’t declared total stores for 24, but what I can tell you is that we’ve been a net store opener for the last couple of years with the expectation that, that will continue to desell.
Now for Hollister, to be more open and excited about testing and trying new things. So she did turn first for us for Hollister just like she did in A&F — We are seeing nice improvement, though, in Hollister guys. I mean the non-tenant bottoms have been very strong. Our fleet business, our butters business. So we’re seeing category improvements, and our expectation is to continue to push out it and continue to see that expect continue to see that growth.
Marni Shapiro : Great. And would you consider like your personal best store or side-by-side? Or is Gilly Hicks really the vehicle, which you would grow that part of the business?
Fran Horowitz : Yes. So IPB, your personal faster active line for Abercrombie, we’re seeing really nice growth, and we have opened up some, I guess I would call them expanded — For example, like in our Fifth Avenue store, we just opened one up down in Aventura again, you know us, Marni, we are a test and learn culture. We’re going to understand what the appetite is for this product, and we’re going to continue to push on it.
