Seth Basham: That’s helpful. And how are you considering the loyalty programs going forward? Any changes to Vital Care or the other loyalty programs, as you think about being able to attract all types of pet parents?
Brian LaRose: No fundamental changes, Seth. I would tell you, we always continue to look at our loyalty programs. We had a good quarter in Vital Care. We didn’t talk about it in the script, but we’re up over 720,000 Vital Care Premier members, those continue to be very good customers for us that sit in the top decile of customer share of wallet. We always look at those loyalty programs, and we’ve talked in the past about that program continuing to evolve. So we still have the one offering, but I would expect it to evolve and not change fundamentally.
Operator: The next question comes from Kaumil Gajrawala with Jefferies. Please go ahead.
Kaumil Gajrawala: Hi, guys. Good morning. I guess there’s a few things you’re doing at the same time, improving share and bringing down costs. When you think about competition and how they’re behaving, those that are gaining share, are they just sort of naturally gaining share because of maybe channel mix or assortment? Or is there something execution related that you’re also trying to address? And if that’s the case, how do you balance bringing down your costs while addressing some execution issues?
Brian LaRose: Yes. I would say I don’t think at the holistic level the competitive environment has changed materially. I’ll echo back some of Mike’s comments. This is a super attractive market has been for 30-plus years and will be in the future that happens to be very fragmented. So our job is to make sure that we stabilize our own business, improve market share and do so profitably. So we are fundamentally focused on those things: market share, profit and cash.
Kaumil Gajrawala: Got it. Thank you.
Operator: The next question comes from Simeon Gutman with Morgan Stanley. Please go ahead.
Unidentified Analyst: This is Lauren on for Simeon Gutman. My first question is on pet food inflation. Is there anything you can share on that? We’ve heard a lot of big players in retail, talk about modest inflation for ’24 in food. Can you talk about how you’re viewing this for the category? Thanks.
Brian LaRose: Yes. On a forward-looking basis, I’m not going to comment on inflation. I will tell you that certainly, what we saw in the – if you normalize the consumables growth rate in the quarter, it would have been a deceleration and a big driver of that was lapping the inflationary impacts of last year. So that would be similar to what you’ve heard from others.
Unidentified Analyst: Got it. And my follow-up is just on traffic and ticket. I guess, like relative to the 2019 baseline, can you talk about traffic and ticket trends in the business and also if they got better or worse in Q4? And also any expectations embedded in guidance for Q1. Thank you.
Brian LaRose: Well, I’m not going to get into that level of detail. I will tell you, and specifically, I’m not going to break traffic and ticket it down back into 2019. I will tell you that basket remains strong for us. I think the team has done an exceptional job. We’re very, very good Petco partners inside of our pet care centers, and they are exceptional at as customers get through the door making sure that they walk out with the largest basket that we can. Our job is to make sure that we better support them in that endeavor. We give them the right products to sell to customers. We give them the right marketing support to get those products socialized with customers and we give them the tools to actually do it. They’re exceptional when they can do it. So basket has been a big driver for us.
Operator: This concludes our question-and-answer session. I would like to turn the conference back over to Cathy Yao for any closing remarks.
Cathy Yao: This concludes today’s earnings call. Thank you for joining.
Operator: The conference has now concluded. Thank you for attending today’s presentation. You may now disconnect.
