Rob DeMartini: I haven’t translated that all the way through. And just to remind you, the remaining customers that are shipping this quarter don’t have slot expansion. So, we are sitting right at about five slots per door. That’s not going to change in the near-term. I really am focused on slot productivity more than slot count, but we know already that somewhere either in probably early Q1, you could see us go quickly add maybe 10% more doors. We are going to try to be very selective about it to make sure they are productive.
Bobby Griffin: Okay. That’s helpful. I appreciate it. That was it for my questions. Best luck here in the fourth quarter with the remainder of the launch.
Rob DeMartini: Alright. Thank you, Bobby.
Operator: Your next question comes from the line of Atul Maheswari from UBS. Your line is open.
Atul Maheswari: Good evening. Thanks a lot for taking my question. Rob, first, a quick one on the implied fourth quarter guidance. Could you provide some color on where are you tracking quarter-to-date just so that we can get a sense of what’s implied for the rest of the quarter?
Rob DeMartini: I mean so far, this is really about Q3, but we are confident in those numbers that we have given you, I guess I would say it that way. We have obviously seen one of the three months. So, we do feel like we are up and we continue to be up over a year ago, and that’s an encouraging sight.
Atul Maheswari: That’s helpful. And then as my follow-up for Rob, one of your competitors recently reported said that the consumer is increasingly getting more value conscious and that they need to adjust their messaging to cater to that customer. In the case of Purple, you are clearly trying to go in the other direction, focusing more on the premium side. So, the question is, how quickly can you pivot should you see more value-seeking behavior from consumers next year either due to the macro or whatever?
Rob DeMartini: I don’t think we need to pivot it too high. I understand the question. I mean we have products that range from $1,000 to $7,500. So, we break them into those three groups Essentials, Restore, and Rejuvenate. But we definitely see more price pressure in our e-com business and significantly less in our showroom business, and then wholesale falls somewhere in between, one, they draw broader consumers. And two, it kind of depends on where they sit in the market. But I don’t think we need to pivot. We can shift investment and focus up and down the line. But I am encouraged by the fact that we are taking share in a down market with premium products. And I do think long-term, that’s the vision for this brand. I think this is a category where if you are not trading up, you better be the low-cost provider, and we are not going to be there with grade as an ingredient.
We got the best product in the market. We have got something that’s differentiated and visible, and we are going to stick to the strategy. Now, we do have to be nimble and watch, but we haven’t seen it as much as I have heard others talk about it.
Atul Maheswari: Got it. That’s super helpful and good luck with the rest of the year. Thank you.
Rob DeMartini: Thank you, Atul.
Operator: [Operator Instructions] Your next question comes from the line of Keith Hughes from Truist Securities. Your line is open.
Keith Hughes: Thank you. You had a press release talking about the new launch of Mattress Firm. I guess the question is on Mattress Firm. Can you talk about the nature of the contract with them. There has been some noise and some other calls of some of their suppliers getting longer terms from them with a potential combination with Tempur Sealy, just whatever kind of detail you want to provide and the relationship would be helpful.
Rob DeMartini: Keith, I know that competitors talked about – Scott’s talked about that. We are managing our business with a good customer. We are in the middle of the launch. We are focused completely on that and not as focused about the events that are anywhere from six months to a year from now. So, I know the questions that are out there. And we will have a point of view at this point. We have been very focused on the upward – was going to use the word pressure, but the upward momentum at Mattress Firm. We presented at SleepCon for the first time in this brand’s history, one of only three brands that were on the stage, and we left very encouraged about our potential with that customer in the future.
