Michael Montani: Hey, thanks for taking the question. Just wanted to ask on marketing spend. If you could give some additional color, where you see that coming in for the full year in terms of bps of headwind? And then also, incentive comp. Where was that in CY 2022? So, we know kind of what you have to cycle. And then lastly, if you could share any ocean freight bps of tailwind based on current spot.
Kenneth Bull: Gotcha. So, Michael, on the marketing, on a full year basis, we’re probably up — you’re talking, 10, 15 basis points here on an overall basis. Some shifts there in some of the quarters, but that’s on an overall basis. And then from an incentive comp perspective, we mentioned that as we kind of move through some of these quarters and the way we book incentive comp, and keeping in mind that last year being 2022 was a obviously a lower amount of incentive comp, this year’s more normalized. That’s probably about tens of basis points in SG&A of deleverage that we’re up against on a full year basis.
Joel Anderson: All right. Thank you.
Operator: The next question is from Krisztina Katai with Deutsche Bank. Please go ahead.
Krisztina Katai: Hi, good afternoon. Thanks for taking the question and my congratulations as well to you, Ken. So, you talked about increased focus on data and analytics, and you are ramping back up marketing again. So, can you just talk about leveraging the data to even adjust your marketing tactically if you have to? And just overall, how are you measuring the effectiveness, whether it is bringing you a new consumer or driving greater transactions with existing consumers?
Joel Anderson: Yeah. Hey, great question. And Krisztina, recall for everybody, last year was the first year we put tokenization in, so it’s the first time we’ve actually been able to track at the customer level. And so, now with this year, we’ll start to — year-over-year statistics on it. And as far as the marketing goes, we’re actually looking at both, can we bring in new customers and can we get existing customers to not lapse or to purchase more frequently. And I think it depends whether we’re talking about a new store or we’re talking about an existing store, or we’re talking about a converted store in terms of which tactic we’re more after. But we now have the data and this will be the first year. We’ll have year-over-year data on it. And so, we’ll only get smarter as we get through this year and then into the following year. Hopefully that gives you some insight. Thanks Krisztina.
Operator: This concludes our question-and-answer session. I would like to turn the conference back over to Joel Anderson for closing remarks.
Joel Anderson: Thank you, operator. And thank you everybody for joining us this afternoon. Like I said at the beginning, we are really pleased with our results and are excited to get back to growing and get back to being a high growth retailer, playing offense like we always do, being nimble to trends and what’s changing. And what, we’ll stay focused on value and I look forward to seeing you all and speaking again after Memorial Day on our Q1 call. Thank you and have a great day.
Operator: The conference is now concluded. Thank you for attending today’s presentation. You may now disconnect.
