Jim Watkins: The only thing I was going to add, Sam, to try to help you, if you look back historically, the inventory at the end of Q3 is depleted a little bit, just coming out of holiday, we typically have a build into the end of the year of inventory. And so I would think of it as more of the build coming out of holiday is going to be less than what we had originally expected and less than what we’ve seen historically, particularly last year where we had a very sizable build as we’re chasing inventory to have enough for the sales.
Sam Poser: Okay. And then I just missed this. Can you just — I know the West was the weakest, but can you just give me that North, South, East, West, how the sales performed in the quarter?
Jim Watkins: The West was down mid-single digits. The South was slightly negative and the East and the North were positive.
JimConroy: And of course, Jim is quoting same-store sales. One of the things that we are trying to continue to focus investors on is if we were to quote those numbers in total sales, you might get a slightly different answer. And investors should be virtually indifferent between sales growth from new stores and sales growth from comp stores. I often joke that, we’re going to threaten to stop reporting comps. I’m only kidding. We won’t do that. No one has spiked my cappuccino. But I do think we want people to be really focused on new store sales and total sales growth going forward because they’re almost as accretive as same-store sales growth to earnings.
Sam Poser: In all due respect, you’re opening a new store that’s opening — I mean I think you originally — I think you said at ICR, you’re planning to open new stores you’re originally planning to open at 1.7, they’re opening much higher than that. Now they’re leveling off at 4.2 versus a much lower number. Well, the same-store sales tell us if you’re actually getting to that 4.2. The new stores are accretive. They’re opening better than they were, but unfortunately, Wall Street standards go up as your standards go up.
JimConroy: Sam, I’m not sure, with all due respect, I even understood your question.
Sam Poser: Your stores are averaging — your stores are topping off around 4.2 on average, which is way above where you originally thought they would be. And you mentioned at ICR that you opened — you had four stores in Phoenix that you went to eight and all the business went up. Your stores in Delaware and probably in Connecticut are opening well above their pro forma. But I mean when you start talking about that, everybody’s expectations go up and then you sort of need the comp to make sure that those stores that opened two years ago are getting to that same place. I mean do we all want to know that? That’s why I mean it’s…
JimConroy: But total sales growth is what’s going to drive earnings. And also it’s part of why our inventory continues to grow, right? We’re continually asked about our inventory levels. And yes, I can tell you, and this might disappoint you, Sam, but I’m not sure our goal is to massively ratchet down our inventory. It seems that running with the inventory levels that we’ve had over the past few years have enabled us to grow our business to the extent that we’ve been able to grow our business. And in each of the last five years, we’ve had margin accretion. So that’s also something — just to set your expectation, something we’re really setting out to achieve is to spin our inventory much faster than we presently are.
Sam Poser: Well, I was asking more about the sales and the same-store sales. I wish you all the best and continued success. Thank you.
Operator: Our next question comes from the line of Jeremy Hamblin with Craig-Hallum. Please proceed with your question.
