Operator: The next question comes from Ike Boruchow with Wells Fargo. Please go ahead.
Ike Boruchow: Hey. Just two clarification questions for me. Just on the quarter-to-date North America acceleration, is that total revenue, comp or both? And then on China, 60% growth was great. Just kind of curious in terms of the revenue guidance for the remainder of the year, what kind of growth are you guys baking in for China for the back half? Thanks.
Meghan Frank: Thanks, Ike. So in terms of the acceleration in North America specifically, it would be total and comp. In terms of China, we haven’t broken out the second half of the year by region. But we are coming off a very strong performance, 61% growth in Q1 — sorry, Q2 in Greater China. And feeling well positioned as we move into the second half of the year, as I mentioned, 107 stores in China today, 35 stores international, and the majority of those being China openings. And I would say we’re pleased with our performance in China as we move.
Operator: The next question comes from Brooke Roach with Goldman Sachs. Please go ahead.
Brooke Roach: Calvin, I was hoping you could elaborate on the composition of North America growth between new and existing customers. How are those customer cohorts performing as they enter the brand? And are you seeing any difference in customer behavior by age or income demographic?
Calvin McDonald: Thanks, Brooke. In terms of the overall composition, I’ll speak directly to sort of how we view the cohorts. And I think I’ve mentioned before, that the new guest cohorts are performing and behaving very similar to how that cohort has behaved in past quarters, past years. That’s very encouraging for us because we did see through the success last year of the Everywhere Belt Bag that it did pull in a younger guest to see them in the cohort in that cohort behaving similar nature of how they engage, the frequency of engagement and the migration of their spend is encouraging. And we still see our business driven by new guests coming in as well as our team’s ability to retain existing guests and increase share of wallet and spend with them.
So nothing that would signal they’re behaving differently and very healthy and contributing factor to the overall business, both with new existing very low retained, very high guest loyalty, longevity and engagement in the brand and responding to the newness and the innovation continues to sort of be that guest formula.
Howard Tubin: Operator, we’ll take one more question.
Operator: The next question comes from Alex Straton with Morgan Stanley. Please go ahead.
Alex Straton: Congrats on another good quarter. One for me. Just on the stores, it looks like they could be at over $6 million of pop in revenue or so on average this year. It’s definitely a high number per box. So, I’m just wondering, maybe Meghan, how do you think about the trajectory from here? What drives that number higher? And on a related note, how do you think about the store growth opportunity from here in North America specifically? Thanks a lot.
Meghan Frank: Thanks, Alex. So in terms of sales per store and sales per square foot, it’s definitely a key part of our strategy to expand our box size in locations where we have high sales per square foot, high traffic to capitalize on that traffic. So, we are opening approximately 25 what we call colocated stores, which are really expansion. It allows us to have a more holistic assortment across men’s, women’s, accessories, footwear and as I mentioned, capitalize on that traffic trend. So it’s a key strategy for us and one that we monitor closely. We’re definitely further along in that strategy in North America than we are in our international markets, we’re still very early days on that. But still runway, I would say, across both our North America and international region in terms of store expansion and a very measured and deliberate strategy. And then, I would say — sorry, can you remind the second half of your question?
