Michael Rempell: Yes. And I agree, Jay. And Dan, as far as how it unfolds, I see it getting better throughout the spring season, so. The reason I keep saying ending — our ending inventory is clean is so important is, I think if you’re a retailer and you’re carrying over inventory from this year into next year, you’re going to be carrying that — the higher transportation costs and cotton cost with it as it flows through the P&L. For us, we’ll have very little of that. So, we have some fabric platforms that we’ll work through. But in general, we’re seeing obviously, huge benefit in transportation costs. Nice benefit, as Jay was saying, in product costs. And as the spring season builds, we’re going to start spring season with a markup benefit and as it builds, that markup benefit should grow throughout the season.
Jay Schottenstein: Hey Michael, I just want to add one thing. You talk about cotton. We play by the rules. We’re very careful what cotton we use, we’re very careful where we manufacture our goods. And we expect our competition to follow the same way, too. And I think in fairness to the retailers in America, it should be a level playing field. And I think that certain retailers who are not based there who get advantages of not paying tariffs, shipping their goods in, not being responsible where they’re doing their sourcing and not following by the rules, should be punished for it. And I think it’s wrong, what’s going on. I think the Congress should wake up and make a level playing to offer American companies, period. And I think the U.S. analysts who follow should be writing that it’s not fair for American companies to play by the rules and other companies that come in this country, violate the rules and get away with it.
Jen Foyle: Well, that was well said, Jay. That’s a tough, I have to follow there. Yes. Dana, just let’s start with American Eagle. I do want to be — make sure that I was clear on my prior answer. We have a new launch in the American Eagle brand, specifically in men’s for the spring one delivery. So we’re pretty excited about it. We’ve had early reads on what we’re about to launch, and the early results have been great. And certainly, we’re going to do it with integrity and caution to ensure that we’re not going to overdrive a new business. But we’re pretty excited about what we’re seeing. Regarding denim, look, denim is the heritage of our brand, but so is bottoms. And we’re definitely seeing a shift into new bottom silhouettes, cargo, cords, and some wider silhouettes.
And with what we’ve been up to, as far as rationalizing our denim SKUs, it’s allowing us to be more flexible, and getting into those businesses as we ride out a slightly softer trend that we’re seeing, but we strongly believe in denim, it’s here to stay. As Jay mentioned, we’re an American brand and certainly denim will always be, at the helm of everything we do in American Eagle, and we’re really proud of that category. And we have newness there as well, Dana, that we’re excited about. You’ll see that in early spring. For Aerie, we’re just getting going with OFFLINE. It is, as you know, it’s a fairly new business for us. It’s a couple years old. We’re just — I mean, our legging innovation is like no other and we’re focused on that in offline.
