Chris Cocks: No. I mean I think it’s validating that we made the right choice. Two years ago, we outlined what our selection criteria would be basically. Can we generate $50 million in revenue at a 10% OP and can we grow to $100 million or more revenue at a 15% OP on a line. And so basically, we’ve chosen the lines to outsource that we don’t think meet those thresholds. But another company with maybe a different cost structure or a different set of expertise could still make a really nice business even if it was sub-$50 million. So I think we’re basically done without licensing. We certainly will be driving cross-licensing and leveraging our brands for category expansion and new product opportunities like we’re doing with LEGO, like we’re doing with Mattel, like we’re doing with location-based entertainment. But I think Power Rangers is probably — it’s probably the last brand that we will outsource.
Frederick Wightman: Makes sense. Thanks a lot.
Operator: Thank you. Our final question comes from the line of Kylie Cohu with Jefferies. Please proceed with your question.
Kylie Cohu: Hey, good morning. Thank you so much for taking my questions. Just kind of wanted to double click a little bit on the timing aspect. Anything that you can quantify from Easter, how has that affected the quarter, and how are you kind of thinking about how that would affect Q2 as well would be helpful.
Chris Cocks: Yes. Easter gave a modest lift in the quarter, maybe, call it, one or two points based on it being earlier. Funnily though we’re seeing April kind of continue to positive trends even barring kind of like what’s going on with Easter. I think we were up in the last week, our total global POS in the last week of April that we measured, we were up 7% without our divested brands included and up about 4% when you even include those divested brands. So while we think Easter would help in Q1, it wasn’t really a decisive help.
Kylie Cohu: Got it. Great. That color is super helpful. And then I know you mentioned earlier about how most of your major profitability drivers are kind of being near sourced. But can you just remind us what your exposure kind of is to China at this point in time, I know we’ve been getting a lot of inbounds on that?
Chris Cocks: Yes, about 50% or so of our…
Gina Goetter: 40% — when you add in Wizards, we’re about 40%.
Chris Cocks: About 40% of our total volume is built in China today. But only or 5% or 10% of our total profit is sourced out of China.
Kylie Cohu: Got you, great. Well, thank you guys so much. Appreciate the time.
Gina Goetter: Thank you.
Operator: Thank you. Ladies and gentlemen, this concludes our Q&A session. And this concludes our call today. We thank you for your interest and participation. You may now disconnect your lines.
