Stephen Berman: I’ll talk for Jack and I’ll talk just kind of overall consumer. Where I think we’re parlaying a little bit different of an approach to our larger competitors of we’re, call it, — leave some bounds of really on the ground enhancement of distribution and margin criteria. We’ve seen our enhancement of our gross margins, and we’re up 600 basis points think for the quarter. That’s something that we are leading to insure for next year. We do see our level of inventory currently on hand. We’ve been managing it down as you’ve seen in our financials for the first nine months. And we’ll expect to even end the year lower than what we were in previous years. That’s from us managing the retail inventory levels to ensure that they have just-in-time inventory from our FOB basis to our domestic basis.
We are seeing customers coming in — we are seeing sell-through strong, and we can only speak for ourselves that we think we’ll have a very nice strong clean year for everyone else, we’re not looking for being able to have something that’s a home runner grant, something we had again last year within Conto [ph] and something may occur with WISH authentic brands or Nintendo streaming. We don’t bake those into our numbers, but they may happen. We run a very conservative brick-by-brick philosophy of business with ongoing excitement. And I think you could hear in my voice, I’m extremely excited for the things that we are working on. And our business just with our general methodology is strong, and we believe we’ll grow next year, growing profitability and grow — in revenue.
That we said, we don’t know where that will take it. But the consumer for us level of business is strong overall, the consumers at the medium to low income basis, you’re seeing some weakness in there, purchasing just general at retail. When you speak to the retailers that have groceries, that’s their catalyst of getting the consumer in from that point, the spontaneous purchases or ancillary purchases are becoming less and less. But a lot of our business, I think it’s over 70% is under $40 at retail and a good portion of it is under $20. So we’re in the right category of business, and we’re right for the holidays. We have some high-end products. So overall, the mix of what we have is across array of different – I call it, income stream. So we’re really happy with how Halloween turned out for us and how retail is turning out for us.
Andrew Uerkwitz: Got it. That’s super helpful. Thank you, Stephen and a very solid quarter appreciate it.
Stephen Berman: Thank you.
John Kimble: Thanks, Andrew.
Operator: Thank you. I would now like to hand the call back over to Stephen Berman for closing remarks.
Stephen Berman: Everybody, thank you very much for attending the call today. Again, we are excited for this year, finishing up, and we’re extremely excited for 2024 and beyond with the new Simpsons lines with our ABG line, with the WISH going into streaming in spring and Nintendo. There’s a lot of things that Jakks that we’re excited on, and we look forward to having our call on fourth quarter and year-end next year. All the best.
Operator: This concludes today’s conference call. Thank you for participating. You may now disconnect.
