Peter Grom: That’s super helpful. And then, Chris, I just had a question on visibility. Kind of the second straight quarter here where things are moving a bit lower, particularly around the core sales outlook and you’ve historically been very pruning. So I guess I just — has visibility improved to the point where you feel like you can kind of get back to that conservatism, if you will, in the outlook so that we don’t really see another call down or does it still remain a bit murky?
Chris Peterson: Yes. What I would say on visibility is it is a challenging visibility period, primarily because we’re dealing with the normalization from a once in a lifetime pandemic of COVID, we’re dealing with this massive inflation that’s starting to come down and the impact that that’s having on consumer purchases, we’re dealing with retailer patterns on inventory that are unusual in nature as a result. The visibility is getting better. I will say that we were encouraged that we came in right in the middle of our top line guidance range for Q2 on core sales growth. So we hit the mark on the Q2 guidance. Obviously, the further out you go, the more challenging it is to provide top line guidance. The thing that we’re focused on is what’s in our control?
And we are moving at pace on the capability investments. We have brought in new talent, a President of Brand Management and Innovation, a new Head of Consumer Insights. We’ve changed our leadership in the outdoor and recreation segment. And we have chartered projects specifically to go after improvement in the areas we talked about, consumer and customer understanding, innovation, brand building, brand communication and retail execution. And we are driving a pace on that. And we believe that those things will play out over the next 12 to 18 months. They’re not going to happen immediately, because these things take some amount of time. But when we — the thing that we’re excited about is as we begin to make those improvements, when you couple that with a very high performing supply chain and back office organization that’s delivering record cost takeout levels, we’re very optimistic about where we can take this business over the next couple of years.
Peter Grom: Thanks so much. I’ll pass it on.
Operator: Thank you. And our next question coming from the line of Lauren Lieberman with Barclays, your line is open.
Lauren Lieberman: Great, thanks. Good morning. I know it might seem crazy to want to look way further out at this point. But I guess I was just curious, you guys have talked about evergreen 50 basis points on average margin expansion. But what about the conversation kind of longer term P&L benchmarking, because I understand unequivocally the opportunity that could be ahead in terms of positive operating leverage with all the structural costs takeout that you’re doing, getting to a more stable and stronger and predictable top line. But I’m just kind of not sure how to think about the reinvestment and capabilities as well. And so even like if I look at just playing with my numbers right now, if I look at general expense, like should I be thinking about ’24 as kind of reaching a benchmark level of proper investment in the business.
And that you’re making that step change this year or I guess over a four quarter period probably, or does that keep building? So just anything you can offer on maybe longer term benchmarking on structure of the P&L would be helpful if you’re willing to go there. Thanks.
