Matt Koranda: Okay very helpful in detail, guys. So, I’ll jump back in queue. Thank you.
Elias Sabo: Thank you, Matt.
Operator: Your next question comes from the line of Robert Dodd from Raymond James. Robert Dodd, your line is now open.
Robert Dodd: Hi, guys. And some of these questions – what I guess is partially been answered. I think, but on – particularly on BOA as you look into the expectation of a rebound in the second half of the year. When – and you talked about the sell through the end products is there, et cetera? But when would you need to be getting, booking the orders, not necessarily – but when would the firm orders need to be coming in for that to be actually manifesting in terms of the second half inbound? And how much visibility – I mean, you talked about the visibility and the expectation, but when would you know, if I can put different way that it’s actually going to happen?
Pat Maciariello: Yes, the short answer is that our Q1 earnings call will have a pretty good picture on kind of at the beginning of how Q2 is trending. It varies industry-by-industry on sort of who’s taking the orders. But there’s a good, usually four, six, eight weeks, you know, in that sort of lag in that sort of timeframe right? So we’ll have a better picture if what we believe is being confirmed sort of at the end of our Q1. We’ll have a little bit of a picture sort of at our Q1 earnings call. I would say though part of the conference comes from what we’re also hearing from our OEM partners about inventory, if that makes sense and about sell-throughs. And what we’re seeing in terms of model count, right? So there’s, several different factors that play into Elias’ and mine, confidence in that statement.
Elias Sabo: Yes and Robert, we can take – the backlog. We take orders four to six weeks out is when we can take an order in still ship it. So it’s – I would say it’s not a business where you have like a three or four month kind of lead time. It’s a lot shorter than that. It’s a monthly time. So – we won’t be able to tell definitively kind of the back half likely until we’re in June, July and we’re starting to get kind of trends for what the third quarter bookings are going to look like and what we can ship against that. Probably by July, we’ll have a pretty good read on that about the third quarter and that will inform a lot from a trend standpoint where the fourth quarter is. I will tell you that as the first quarter has gone on, bookings have gotten better.
January was incredibly slow. February is not great, but it’s not awful. And so there’s been a general pick up that we’ve seen already starting to happen. And it can like – the depth of kind of the drawdown that we’re seeing in Q1 might actually work to kind of recover, have this business recover more quickly. It could be in Q2. We just aren’t to, at a point where we’re going to see that yet given the short-term nature of how quickly we can fulfill an order.
Robert Dodd: Got it, got it. Thank you. I really appreciate – that the extensive color. The second one and you probably just answered this in the previous answer. Lugano, I mean, in the – it was, I think, the biggest or one of – the biggest contributors to working capital build in 2022. To be clear, I mean, you talked about you’re still investing there. Has been any change or is it the fact that you’re only, probably to schedule to open two stores, salons?
