Linda Bolton-Weiser: Okay. And then finally, I just had one question about your e-commerce sales. You mentioned that number pretty specifically. I was just curious if all of your pretty much almost all of your e-commerce sales are through like Amazon and other type of retailers like that? Or do you have a certain percentage of your sales that are through your own websites like DTC sales?
Rob Kay: Yes. So the majority of those sales both here and internationally or in Europe are through pure-play e-commerce with Amazon being the big guy in Asia Pacific, Amazon isn’t the major player. So for instance, in China, Tmall which would be our biggest outlet there. But we have been growing and growing profitably our own branded transactional websites continue to grow again this year. And our own websites for the full year, approximately $30 million, a little south of $30 million growth year-over-year versus and that would be the 2022 number.
Linda Bolton-Weiser: Okay. Well thank you very much. I’ll pass it on.
Operator: Our next question comes from the line of Anthony Lebiedzinski with Sidoti & Company. Please proceed with your question.
Anthony Lebiedzinski: Good morning, and thank you for taking the questions. So first, looking at the fourth quarter results, so I just wanted to get a better perspective for demand for your different product categories, kitchenware, tableware, home solutions. Just wondering if demand was consistent or did you see any variations in your demand levels?
Rob Kay: No. And again, the biggest impact on us has been the over-inventory situation at wholesale. And that affects everything. So when there isn’t open to buy or too much at, it depends on channel by channel how it works. They’re not buying anything or cutting back on anything and it’s across the board. It doesn’t have to be that the over inventory on your products. That situation is impacting your products even if it doesn’t you aren’t over in inventory at retail.
Anthony Lebiedzinski: Okay. Got you. Okay. And then just in terms of the commentary about the second quarter. So is that when you expect the point of sales — point-of-sale data to match the shipment data. Is that a fair way?
Rob Kay: Yes, look. I mean we do mention that we are looking positively at 2023, but we do also mention that there’s very poor visibility we also do know we’re very close with our customer base in terms of the inventory situation and what’s at in their DCs or in their club or whatever it’s going to be. So there is the need but we can’t definitively put a date on things at this point.
Anthony Lebiedzinski: Understood. Okay. And then in terms of the European restructuring, can you guys quantify how much you expect in savings from that initiative?
Rob Kay: You’re talking about in Europe?
Anthony Lebiedzinski: Yes, please. Yes.
Larry Winoker: Yes, it’s Larry. Yes, we said it should be about $2.3 million, $400,000 restructuring. Some of these savings will come from attrition and less warehouse labor. So again, a big bang for the buck than we — that’s international, yes.
Rob Kay: And we have executed it completely. So there’s no additional work to be done on the structure.
Anthony Lebiedzinski: Okay. And then so you repurchased about 6.3 million shares of your stock. What is your appetite?
Larry Winoker: Well, just to clarify, we bought back $6.3 million of stock, not 6.3 million shares. I know you got that, but just to clarify.
Rob Kay: We’re currently on hold in that program, we’ll reassess it as the year goes on.
Anthony Lebiedzinski: Okay. Got it. All right, well thank you very much and best of luck.
Rob Kay: Thank you, Anthony.
Operator: There are no further questions in the queue. I’d like to hand the call back to management for closing remarks.
Rob Kay: Okay. Thank you, everyone. We appreciate people’s continued interest and support of Lifetime Brands. We look forward to continued communication and we look forward to people joining us on our first quarter conference call coming up very soon. Thank you. Have a great day.
Operator: Ladies and gentlemen, this does conclude today’s teleconference. Thank you for your participation. You may disconnect your lines at this time, and have a wonderful day.
