Bret Jordan: Hey, good morning guys.
Michael Broderick: Morning, Bret.
Brian D’Ambrosia: Good morning.
Bret Jordan: Could you give us a little detail on car count, I guess ticket versus traffic in the comp and then I guess Brian, the usual, the monthly comp breakout?
Brian D’Ambrosia: I’ll start with the traffic. Traffic was down mid single digits, and the ticket was up low single digits, but I would say that for a minus two, but a lot of what we looked at was going back to the tire story. So just to be clear on the OPP, this was a tire quarter for sure. We were just down — we mixed up, which we like mixing up to tier one through three. That’s drives profit. And I would say that — because the tire count was down, we actually lost some of the attachment too. So we do look forward to the consumer coming back in the quarter. Generally, we’re waiting on a weather event right now in the month of November to drive the customer coming back, and then we’ll appropriately drive the improved transactions as well as the attachment that goes along with it.
Bret Jordan: Okay.
Brian D’Ambrosia: And then regarding the cadence in the quarter, July was up 0.5, August was down 2.5, September down five. And those trends all really, like Mike said, driven by tire unit declines as the quarter went on and also consistent with the industry data that we mentioned in the prepared remarks that we were comparing ourselves against.
Bret Jordan: Was there much regional dispersion? I guess you guys kind of called out that your primary markets saw a lot of pressure from the consumer. Was the West better?
Michael Broderick: The West was better, but I would say it’s marginally better. But to our prepared remarks, a lot of the pressure was definitely on the East Coast.
Bret Jordan: Okay. And then one final question. I guess, the working capital benefit, when you think about how you’re running with sort of an inventory lighter model, what’s — what do you think is left? Like what’s if — as we look at the balance sheet today and the model, like what more could we extract from the inventory on cash?
Brian D’Ambrosia: Great question. I think if you look at Q1 to Q2, you definitely heard the metrics start to flatten out a little bit. We’re still at about 72 days of cash conversion cycle reduction still around 190, 195 of that inventory to AP ratio or AP to inventory ratio. So I think you’re — it’s definitely showing that we’re in some of the later innings, but there’s still more benefit to come as we get new vendors signed up for extended terms and also continue to drive volume through our existing vendors on the programs. But I think the slowdown in some of the growth in the year-over-year metrics is indicative of kind of later innings.
Bret Jordan: Okay. Great. Thank you.
Michael Broderick: Thank you.
Operator: Our next question today is from the line of Brian Nagel of Oppenheimer. Brian, your line is now open. Please go ahead.
William Dossett: Hey, this is William Dossett on for Brian. Thanks for taking my question.
Michael Broderick: Good morning, William.
William Dossett: So — thank you. So the first question is just about the consumer. What can you do internally to drive comps and gain increased traction if the consumer remains pressured? And with respect to the industry, what pressures need to ease for us to see an improvement in the current trade-down trends and deferral trends that you’re seeing here?
