Jonathan Sinclair: So we’ve opened — as you’ve heard, Katie, we’ve opened four stores so far this year and we are delighted with the performance that we’re seeing to date. We’ve seen consumers react really well, we’ve seen good traffic flows in those stores. We’ve picked them very, very carefully to make sure that we’ve got the right environment, the right adjacencies. And so we’re getting what we expected at this point and we’re very pleased with it.
Carrie Baker: I can just add too. The thing that also encourages us, as we talked a lot, you’ve heard my famous line of Quest West. But when you look at the stores we’re opening, talking about Vegas, we’re talking about Seattle, LA, these are non-winter, warmer climates and the response has been equally strong. And so again, that just gives us more confidence that our strategy is working, consumers are responding and we have a lot of opportunity, particularly when you look at the US, we’re so early in our journey that we have many more stores to open and expect them to perform as we’ve seen so far.
Operator: And our next question comes from the line of Jay Sole from UBS.
Jay Sole: Jonathan, if you could talk about the DTC growth, growth you’re expecting this year. Can you give us an idea of how much that growth you expect to come from the new stores versus how much you expect to come from e-commerce versus how much would come from stores that maybe were closed last year that are up this year versus how much of like-for-like growth you expect this year from your stores that were open last year that are also going to be open again this year?
Jonathan Sinclair: So to try and give you some flavor of that, obviously, you’ve got our core guidance assumption in terms of the overall DTC comp growth. So that’s an important element in its own right. And that excludes sales being made this year and days when the stores were closed last year, so that’s additional. And obviously, there’s a significant proportion of that growth and you see some of that contained in the gap between the DTC comp growth and the aggregate growth of DTC. The other piece obviously is new stores, we’ve got 16 new stores coming online. You could assume that they’ve the half the year and you know our sales density and therefore can make, I think, a good stab at that as a result. I think we’ve got a good crop of stores coming online this year, they’re going to be around for most of the — they’re most of the productive period of the year, the second half.
And therefore, you can assume that there’s a healthy contribution from those stores. Online, we’ve been doing a lot of work, as you’ve heard from Dani’s prepared remarks around where we’re heading. We’re very optimistic about what that can bring. We see it as complimentary. We’re looking forward to our first peak season with omni-channel in the UK, which we haven’t done before, as well as continuing to refine it in other markets. Our Chief Digital Officer’s been doing a ton of work around this. We can see a lot of opportunity and we think there’s a real upside there. Hope that gives you a good flavor for this.
Jay Sole: It does. And if I can just follow-up with one more. Can you talk about what you’re seeing from tourist traffic trends especially in different geographies like Europe for example or even in North America?
Jonathan Sinclair: I mean, we are seeing some tourism return. It’s interesting, because it’s very different by region. I called out in my own remarks what we’re seeing in Southeast Asia in the outperformance of the non-Mainland China’s and Southeast Asia markets where we are definitely seeing a return. As you look beyond that, it’s much more gentle, I think partly because we saw some early recovery last year. And frankly travel from Asia to the rest of the world is a little bit more muted, some of that’s flights, slots, some of it’s about people getting back into it. It will just take a little time and that’s what we’ve said and that’s why we’ve not included that upside in our guidance assumptions at this point. Now if it happens, great and that’s got the potential to be an upside.
Operator: And our next question comes from the line of Jonathan Komp from Baird.
