I think that €“ and as I said, as we’ve moved into the fourth quarter, the outlook that we’ve provided for the year we are seeing that same consumer behavior, less spending on discretionary categories like apparel and much, much, much increased appetite for deep discounts. So, where we are promoting, we are doing it strategically. And that’s when we get competitive and when we see the improved results. So, we are €“ as we move into , as we finish out the fourth quarter of this year certainly, and as we move into 2023, we will continue to be very strategic in our promotions, but in this environment, we’ve learned that we absolutely have to be competitive with what’s happening around us. The customer is choosing, absolutely choosing based on really not just value, which is what had been driving our increases, but on promotion specifically.
So, that’s, sort of the state of the union. As we’ve gone €“ if you look back at the five consecutive quarters where we actually drove growth versus 2019. It was driven actually through significantly higher average unit retails, which was both €“ and that was driven by significantly improved product, mix of our assortment, and less promotion. So, the strategy that had been working for us for so long just truly became in direct conflict with what consumer behavior and consumer sentiment was. So, as I said, we’re making those adjustments. We’re recalibrating our assortments. We’re reintroducing opening price points. We’ll continue to be very strategic in how we promote. And so, expect to see improvement as we move into the first quarter of next year.
Unidentified Analyst: Got it. And maybe one more for me. As far as your customers go, where are you seeing €“ are you seeing different spending patterns between income levels, gender, and different channels? Can you maybe just touch on those dynamics?
Tim Baxter: We’re certainly seeing differences by gender. Our men’s business, as I said, just posted its sixth consecutive quarter of positive comps. So, our men’s business remains very strong. We continue to gain a market share very aggressively in our men’s business. So, we’re certainly seeing a very disparate performance by gender. In terms of price point, we don’t have all that data from the quarter yet. So, I don’t want to share any of that other than to say, it certainly appears as though our lower income consumer is the most challenged. About a third of our consumer base makes over $100,000 a year, two-thirds make less. So, it does €“ it would appear based on everything that’s happening around us that that consumer base is much more significantly challenged.
Unidentified Analyst: Great. I’ll pass it on. Thank you.
Operator: And it appears there are no further questions at this time. Mr. Baxter, I’ll turn the call over to you for any closing remarks.
Tim Baxter: Thank you everyone for joining us this morning as we begin this bold new chapter for our companies.
Operator: Ladies and gentlemen, this concludes today’s conference call. Thank you for participating. You may now disconnect.
