Vance Chang: John, I don’t — Jake I don’t have it handy either, but I can add a little color to the value question and that is we did see guests trade down into the lower tiers of our value menu or two for 25 value menu as well as trading into it. So there was a little bit of a check management with respect to that. But we can follow up with you directly to get to the exact percentage.
Jake Bartlett: I appreciate it. I appreciate it.
John Peyton: Jake, this would have it from our finance team is helping out 13%
Jake Bartlett: 13%, so went down a bunch.
John Peyton: Yes.
Jake Bartlett: Okay. Thanks. And then the other question was on CapEx, and I just want to make sure I understand your guidance versus kind of what’s reported on the cash flow statement. I think it’s $32 million year-to-date from what’s reported for CapEx and then the guidance 33% to 38%. So just want to make sure that those are the same measures. So I wouldn’t imagine we’d go down so much in the fourth quarter. So just to clarify there. And then what you expect really kind of big picture for CapEx moving into 2024, whether you think it should be coming down as some of these tech investments are left or just some big picture directional commentary for 2024 and CapEx?
Vance Chang: Sure. Hey, Jake, this is Vance again. So for CapEx, we are — we’re pretty much close to most of the initiatives that we’ve been working on. Now the CapEx spend year-to-date and our guidance for this year, just as a reminder, it’s does not reflect about $10 million of TI reimbursement that we’ve received here today. So comparatively speaking, versus last year, it’s already down meaningfully, and then we do expect going forward, the CapEx level will be more in line with historical levels unless we have great return projects and as our business and the restaurant sector evolve over time. But overall, we — we’re at the till end of our CapEx initiatives.
Operator: Thank you. One moment for our next question. Our final question comes from Andrew Wolf with CL King. Please proceed.
Andrew Wolf : Hi. Thanks. My question is on — if I heard it right, I think one of you all talking about Applebee’s, mentioned that volumes were flat despite the comps coming in down. So I think that speaks to the level of discounting that, obviously, people who came for the all-you-can-eat promotions enjoyed. And my question is, as you look at the supply chain, given the vendors, whether it’s ridge [ph] or whatever is being promoted, their volumes going up. Logistics are getting cheaper on a case basis because of the volume and such. Is this discount something that the vendors participate in, so that your franchisees to some extent, aren’t kind of absorbing most of that discounting. Is that one way that the scale of the company is able to kind of — in an efficient manner for the franchisees, bump up the promotionality.
John Peyton: I will confess, but I don’t know the answer to that question, Vance, to you.
Vance Chang: Yes. The way we plan the promotions, Andrew, is — because John talked about this earlier, we planned the year ahead, and we have some visibility in terms of commodity expectations. So we do — that is part of the decision in terms of what campaigns were running. So if we know pork pricing is favorable, we tend to being heavier with that — with those promotions. So it’s not that we are asking specifically for the vendor to participate, but we factor in the expected inflation into the campaign decisions.
Andrew Wolf : Okay. So there’s a planning calendar. All right. Thanks. Okay. Great. Is it always a year? Or can you, on an ad hoc basis change these kind of large-scale promotional type of promotions.
Vance Chang: We can definitely do it on an ad hoc basis. And it depends on the situation. John talked about this earlier. We can — we play offense [ph] we can be reactive if we need to. And I can’t think of any recent examples that we’ve done that because things have been sort of going on as we expected. So we haven’t had to pull any last minute type of things that were on plan. But we have the capability to do so.
Andrew Wolf : Thank you. That’s it for me.
Operator: Thank you. I would now like to turn the conference back to John Peyton, Dine Brands CEO, for closing remarks.
John Peyton: Thanks, Kathy. I appreciate your facilitation today. Thanks, everybody, for your questions. I’ll come back and run a second time for some questions. We’re pleased with the quarter, in particular, if you want to just highlight that average weekly sales for both brands has been in excess of 2019 all year for both brands, and we think we’re seeing the results of the resilience of our brands, their relevance and our efforts around technology and menu and marketing innovation as well as our focus on store level execution. So thanks, everybody, for the questions. And we will see you again in the next quarter. Take care.
Operator: This concludes today’s conference call. Thank you for participating, and you may now disconnect.
