I think it’s like 600 square feet and it’s almost like a little beach bungalow and it’s just it’s so right for the brand. It looks terrific. And all that. And then what they do is they tend to do these smaller niche year-type locations. And then they really work with what’s there and just sort of make it their own. So the build-out cost actually tends to be a little bit lower than in our other brands. And I’ll let Scott fill in some of the details on the investment level in the payback.
Scott Grassmyer: Yes. Yes. Johnny Was is investing less. So the paybacks are usually less than 2 years on a retail store, some even quicker than that. So they’re very productive. They also you see built in different several kick-out rights and leases. So — but we usually or 10-year leases but several ways to get out if it doesn’t were. or so that we’re going to open, we probably got 6 or 7 signed and we’ve got multiple other ones in various stages of negotiations. Some could open this year, some might be next year. So we’re excited about the growth. We think there’s still a lot of runway for new stores. We’re also opening stores in the other brands may be some stores, Southern Tide will open quite a few stores. We’ll get a couple open and we’ve got 3 Tommy Bahama, Marlin Bars that we’re very excited about.
That pipeline in the Marlin Bars was something that takes a while to get going and we real pipeline in Marlin Bars. So I think we’ll be able to open at least 3 next year and for the next several years. So the brick-and-mortar front, I think we’ve got a lot of exciting growth happening.
Operator: Our last question comes from Noah Zatzkin with KeyBanc.
Noah Zatzkin: First, wondering if you could provide any color on the exit rate leaving 2022? And then relatedly, on top line growth by brand contemplated in the $405 million to $425 million 1Q revenue guidance range. And then second, just on inventory, how are you feeling about the position and overall composition? I think you noted that the increase versus ’19 was driven by $20 million of incremental Johnny Was inventory and I think $25 million of earlier receipts but just if you could help unpack that a bit.
Tom Chubb: Okay. Regarding the exit rate, for the fourth quarter of 2021. I assume you mean the — or excuse me, fourth quarter of 2022, you mean the sales trajectory?
Noah Zatzkin: Yes.
Tom Chubb: Yes. So, if you remember, Noah, back in our December call, we said that November had actually been a little bit softer than the prior year that did not seen them out of back to us because in 2021, people had thought so early. So we weren’t entirely surprised by that. And what we saw was a very normalizing environment in Q4, where November was not as good as November ’21 but much more like what prior Novembers have looked like. And then obviously, as our fourth quarter results reflect the rest of the quarter ended up being strong. And then in February, we also had a good month. I’ve seen a lot of other people in our space talk about February being tough but we actually had quite a good February. We were pretty happy with what we saw in February.
And as we sit here today, March has been slightly choppy but we believe we’ve factored all that into our forecast. And we think that as the weather turns and the Easter and spring breaks approach which are a pretty meaningful catalyst for us on the sales front. And then we get into all the summer holidays, Memorial Day, Mother’s Day and Father’s Day, 4th of July, we couldn’t be more excited about what we’ve got ahead of us.
