Jon Braatz: Okay. Is there a point where in Colombia specifically, if the currency stabilizes, let’s say, around 4,000 or something like that, is there a point where you might begin to increase prices a little bit?
Robert Price: Well, the idea of this business is to keep giving people better value all the time. So the idea of increasing prices isn’t part of our DNA. I think the — what we’re trying to do is to build a long-term business where our members are going to be confident that when they walk in the building, they’re getting the best price we…
Jon Braatz: Okay. In the 10-K, there was a couple of comments about some issues in Guatemala and Panama in terms of road blocks that might some — create some issues to some of your stores in those markets. Can you give us a little update on that situation there? And in fact, did it have much impact on your revenues in October in those markets?
Robert Price: As we understand now, the situation in Guatemala has calmed down. I’m not sure today what’s going on in Panama. It’s had some effect. I don’t think it’s significant in terms of what the overall October numbers will be. I think we probably lost some sales, but you won’t notice it as far as our reporting.
Jon Braatz: Yes. Okay. Okay. And then lastly, you’re increasing membership fees from $35 to $40, about 14%. Any thoughts? And you haven’t increased membership fees for a while. And maybe if you look back and maybe there have been some prior increases, but any thoughts on what impact that might have on the membership roles. Do you see a little bit of — you see somewhat of a decline in memberships because of the higher price increases — higher fee increase?
Robert Price: No, at this point, we haven’t seen any decline. I think the $5 is fairly nominal. I think the issue is — more important is, how the members perceive the value they’re getting for that $5 increase in the overall membership fee. And it’s up to us to continue to improve that value, I think we have the capacity to far outweigh the $5 membership increase with better values to our members. I don’t think the $5 is going to be what makes them decide to be a member or not. I think it’s going to be — are they feeling that by being a member at all, it really is something that bothers them. And we really believe that based on shopping patterns that people appreciate and value that membership. I would just add one thing about — and I should have said it in my opening remarks.
From what I can tell about this business in the region we operate, we are probably — and I would feel very comfortable saying this that we are the most respected and trusted brand of any business operating in this region. And I think that’s not appreciated enough by our investors. Maybe we don’t tell the story very well. But not only are we respected and trusted, but that gives us a foundation to continue to build additional services and opportunities for our members that we think will take advantage of in the future. And the idea of growth, I hear the idea of going into other countries and growing, but you have to have healthy growth. You can’t just have growth because it looks good that you have more clubs, we will have more clubs. But what’s really important is leveraging on what we already have.
And we have almost two million accounts and three million cardholders who represent the very best in terms of member clientele in this region. And I think we have not taken full advantage of what we have.
Operator: There are no further questions at this time. I will now hand the call back to Mr. Michael McCleary for the closing remarks.
Michael McCleary: Okay. Thank you, everybody, and we hope you all have a great day. Take care. Bye-bye.
Operator: Thank you. Ladies and gentlemen, the conference has now ended. Thank you all for joining. You may all disconnect.
