Melinda Whittington: Yes, I won’t speculate into the future. But in general, given where the conversations are, as we said, we’ve got one in the hopper that we expect to close here in the fourth quarter, and that’s a two-store network and that’s the one that’s contracted. So, we’re looking forward to bringing that group into the fold.
Budd Bugatch: I see. And in the quarter that you just closed, you said you bought, I think, five of the six physical locations in terms of those six dealers average, what, I think, $3 million per if I did the math right, how much of that was real estate and how much of it was for operations? How does that value separate?
Bob Lucian: We don’t typically provide the breakdown on that. So, yes, it’s — the real estate is going to be — and generally speaking, the real estate will be worth more than the specific business on a per store basis. But we don’t generally speaking, and we won’t go provide information real estate and the business. And also, this is one of the first ones we’ve done in a while where we purchased the real estate. We don’t go off and ask for that, but sometimes the dealers say that they’re interested in completely exiting the business as opposed to being a landlord for us once they sell is to their business. So, again, these — we don’t go off and actively pursue buying the properties. We’ll take a look at this property and we’ll keep an eye on it. And if there’s opportunities for beneficial sale and leaseback, we’ll clearly think about that as well.
Melinda Whittington: It’s a benefit to be able a strong balance sheet to help those transactions through.
Budd Bugatch: Yes, I understand that because as a former retailer, I know that real estate was typically the retirement idea for the owner when they sold the network or he sold — she sold that network. And last for me is can you maybe give us a feel of where the undelivered backlog with the disruptions in January, how do you look undelivered for both Wholesale and Retail going into the next quarter?
Bob Lucian: We don’t provide that level of detail. The way I’d have you think about that is just look at the range that we provided for Q4 on what we expect to deliver, and that encompasses all of that.
Budd Bugatch: Okay.
Melinda Whittington: In general, we’re back to — we’ve been running mostly — we’re pretty much back to our four to six-week delivery. We had that short-term disruption here fell behind by a week or two, but we feel good about being caught up again.
Budd Bugatch: And well, then last from me then, the quarter was the average ticket up or down for your Retail network, the one you own?
Bob Lucian: As we mentioned in the call, our conversion rates were higher than a year ago, and our average ticket was higher than a year ago.
Melinda Whittington: Yes, that’s why we’re really pleased with the execution, though even though traffic continues to be challenged.
Bob Lucian: Thanks Budd.
Operator: Okay. Thank you very much. I think we have reached the end of our question-and-answer session. So, I’ll now turn it back over to the management for any closing remarks.
Mark Becks: Thanks, Jenny. Melinda, Bob and I will be in our offices today to take any follow-up calls. Have a wonderful day.
Operator: Thank you very much, everyone. This does conclude today’s conference. You may disconnect your phone lines at this time and have a wonderful day. Thank you for your participation.
