Charles Grom: Okay, thanks very much. And you just touched on this a little bit in the last question, but a lot of the conversation recently with you guys has been on the build-out of the systems, right. So the buyers and merchants can be more efficient and use the tools to make real-time decisions. I’m just — can you just maybe go a little bit of a layer deeper on steps on that journey, you talked about a lot of that happening in 2023, but I’m just curious, is there any a little bit deeper explanation on that front?
Michael O’Sullivan: Yes, sure. Actually, I guess I would take a step back and I would say, we — as I’ve already described, we’ve grown our merchant team by almost 50% since 2019. I think we can get better value — more value and more effectiveness out of that team as we add improved processes, tools, reports, etcetera. I would say historically — but when I arrived in 2019, don’t get me wrong, Burlington was an off-price retailer. But many of the processes that we had, many of the tools and reports that we had, they looked a lot like the processes, tools and reports that you might find at a department store rather than an off-price retailer. So that’s what I meant by our Merchandising 2.0 project. It’s really to take all those tools, processes, etcetera, and really sort of reconfigure them through an off-price lens.
And as I say, I feel like a lot of that work will be delivered in 2023. There’s another piece to this, though, which actually has less to do with tools and processes. It’s more about, I guess, what I would call in any organization, I would say that there’s an experience though, I think. Again, when I arrived in 2019, there’s no question, Burlington was an off-price retailer. But over the last three years, we’ve been attempting to become more off-price, and I think we need to get further down the experience. We need to manage ourselves down the experience curve to make sure that as we do that, we’re as effective as possible and we get value out of the investments that we’ve made in people and systems and reports, etcetera.
Charles Grom: Good, thank you Michael.
Michael O’Sullivan: Thanks.
Operator: Our next question comes from Mark Altschwager from Baird. Please go ahead. Your line is open.
Mark Altschwager: Good morning, thanks for taking my question. Michael, you mentioned a higher mix of branded merchandise. What is the mix of the key brands now versus pre-COVID, wondering if there’s a way to contextualize that? And what’s giving you the confidence of the favorable buying environment including the favorable in-season buying environment will continue into next year?
Michael O’Sullivan: Sure. So Mark, on the first question, the — actually, I think the best way to look at our mix now versus pre-COVID is actually sort of our mix of off-price, what I’ll call off-price buys through off-price buys versus what many retailers would call an upfront buy, something that you buy before the season and you’re negotiating with the vendor for. Our mix of true sort of off-price buys is much higher now than it was in 2019 or historically. That obviously that’s a key part of that strategy. Now because our mix of off-price buys is higher, we were able to go after more and more interesting brands because we’re buying them opportunistically. So if I look at 2022 versus 2019, we’ve moved the needle fairly significantly in terms of the mix of our business, and I would call it true off price.
