But at the same time, there are a couple other internal things that are shifting and one of those things as what Sharon just talked about the Birthday Bear and it’s like our number one acquisition program. And as we are getting the new guests into the program, that the transaction value of those particular guests when they come in and interact first time with the brand it’s slower than our average transaction and that has been the increasing component of our business. So that’s also impacting our overall decline in dollar per transaction. But we are still pleased that we continue to drive traffic that people are coming to our stores and that they are spending their money and their discretionary income in our locations. And so we will continue to work on areas to create excellent experiences for them and continue to drive our top line growth.
Michael Baker: Thank you. I appreciate the color.
Operator: Thank you. Our next question comes from the line of Greg Gibas with Northland Securities. Please proceed with your question.
Greg Gibas: Hey, good morning. Thanks for taking the questions. Curious how owned store comp sales performed if you back out that extra week in Q4?
Voin Todorovic: Well, clearly what we said in Q4, we had $149 million in total revenue. That was 3.9% growth year-over-year. The impact of the 53rd week was about $7 million. So our sales were down overall. We also said that our web demand was down about 8.8%. So even though we were overall down, the impact – even though we don’t talk about the same-store sales, but the retail sales, is smaller impact than what was on the web demand.
Sharon Price John: And just for clarity, when you say owned stores, you are talking about our corporately managed stores. All of that data is based on our corporately managed stores. We’re not including partner-operated or franchise stores in that particular data.
Greg Gibas: Okay, perfect. Thanks for clarifying.
Sharon Price John: Yes.
Greg Gibas: And curious if we kind of ex-out either the additional 50 stores at least, curious what your kind of implied comp store sales growth is in the 2024 outlook?
Voin Todorovic: So we are expecting to grow, as I mentioned in the remarks, if we adjust for one extra week, we expect to grow in mid single digit range year-over-year. A lot of that growth is going to be coming from these additional net 50 new locations. Again, that may be back half weighted as we continue to add stores and our partners open them. So that’s portion of that growth. In addition to that, we expect our e-com business to recover with the digital transformation that’s in place, as well as we would expect improvement in our base business as well.
Greg Gibas: Okay, fair enough. And really nice to see the anticipation of an acceleration in new store sales from, I think, it was 37 in 2023 going to at least 50 as expected. And I know you previously – just kind of a follow-up, but you previously said you are not really specifically breaking down, but it would be curious if you could talk about maybe the rough mix on, I guess first, corporate versus partner-operated and franchise. Maybe like the rough breakdown, is it like fifty-fifty and then also international versus domestic? Given your commentary on a lot of opportunity internationally, just curious what maybe rough breakdown would be international versus domestic for those new stores?
Voin Todorovic: That’s what we have shared, that we expect majority of these locations to be partner-operated of the opening. So that’s going to be definitely more than 50%, like we are not providing the specific color on some of those. Again, some of this also depends on the timing and flexibility and openings, again, as we are opening these locations, some of this is outside of our direct control and there are supply chain challenges and impacts, but we feel good about the overall number that we are guiding and how that’s going to open and where it’s going to open. It’s still in works. From the partner-operated perspective, a big portion of that we would expect to be in international markets, as we continue to expand in those.
So again, just because of all those reasons that I highlighted a second ago, I don’t want to break some of those numbers in more detail, but we also expect our international franchise business to have some opportunities, and we are planning to expand internationally. So it’s, again, beginning of the journey in some of those markets now that we are behind COVID and we are opening, as we mentioned, we have first two stores in continental Europe in many years. So, we are excited about that. And they are going to continue to open throughout the year, and we will be providing more context as we have more information to share.
Greg Gibas: Okay, great. I guess appreciate that.
Sharon Price John: The one thing that I would add to that is clearly that 50 stores for us it’s a pretty long pipeline, and we’re planning years out beyond that as well, without providing any specific detail on that. But as one was saying, particularly in partner-operated and even in corporately managed, these are leases that we’re working with, with other partners. It’s not a unilateral decision on which store or what kind of format it is. And even in some partner locations, sometimes we end up running a corporately operated store. So that’s why we’re being not as crystal as we probably could be. It’s because sometimes it’s down to the last portion of the negotiation on what form the store, actually, takes. And yes, and Voin mentioned we just opened in Rome, but you might recall on the last earnings release we discussed the excitement and the positive reaction in the Italian market when we opened in Milan.
So that opened just yesterday, but we’re quite hopeful we’ll see the same sort of impact.
Greg Gibas: Great. That’s helpful. Thank you.
Operator: Thank you. Our next question comes from the line of Steve Silver with Argus Research. Please proceed with your question.
