Thomas Robertson: I think to Jason’s point there, we’re seeing our at-once business compared to bookings as a percent of sales over the last quarter and certainly over the last few quarters has been elevated, right? So that just shows you that retailers are buying when they need it versus booking at advance. So that’s probably a little bit of cautiousness in Q4.
Jeff Lick: Great, I’ll let someone else to ask the questions.
Jason Brooks: Thanks, Jeff.
Thomas Robertson: Thanks, Jeff.
Operator: Our next question comes from Jonathan Komp with Baird. Please proceed with your questions.
Jonathan Komp: Yes, hi, thanks. Good afternoon. Maybe just a follow-up there to start, Tom, I know previously, you’re expecting to get back closer to flat year-over-year revenue growth in the fourth quarter. So could you just talk a little bit more about sort of the revised view, what’s shaping that? And how much, if any, sort of third and fourth quarters more onetime in nature to clear goods versus what you see for underlying demand signals?
Thomas Robertson: Yes. Sure, Jon. I think we are — again, to Jason — use Jason’s vocabulary being cautiously optimistic for the fourth quarter and just reiterating overall top-line guidance. Q3 was a little bit better than we anticipated. And there’s probably low single-digits in the $1 million range — low million dollar range of discontinued product that moved down in the third quarter, and we’ll probably continue that into Q4. But I think we’re just going to continue to be cautious here as we work through the rest of the year given everything that’s going on in the macro environment.
Jonathan Komp: Okay. And then if I could just ask maybe a broader question, given some of the commentary you shared around order bookings and some of the product initiatives. When you think out looking forward beyond fourth quarter, how soon do you think you can return to growth overall just based on your planning and what you see in the environment?
Jason Brooks: Yes, it’s a great question. We’ve been really trying to dig into this and understand. I think we are going to take a pretty cautious approach to what that might look like in 2024. We’re coming off one of the — in my opinion, one of the craziest years in 2023, and we’re getting ready to go into a 2024 election year, which is also another challenging component. So I think our plan will be to go into 2024, continue to stay focused on our operations, our internal operational excellence and manage our SG&A and try to continue to find ways to grow the brands where we see the opportunities. Like I said, we’re still excited about Lehigh, and we think that, that might be a different kind of approach next year or different opportunity next year, too. So excited to get the hell out of ’23 and get into ’24 and get back kind of on our regular pattern, Jon of just slow growth, but throwing some money on the bottom line.
Thomas Robertson: I think just to add on to that, Jon. This quarter is a good example of how the operations have kind of been rightsized. And so we’ll be prepared for 2024, right? And Retail will do what Retail is going to do and the economy is going to do, what the economy will do, but we’ll be able to take advantage of it if the sales come.
Jonathan Komp: That makes sense. And just last one for me, Tom, and maybe Jason too. Just have you shared any color on the CFO transition back to you, Tom. And then how long you’ll be willing to take on the role again since you had other responsibilities, just any broader thoughts there? Thanks again.
Thomas Robertson: So I was the CFO Rocky for six years, six and a half years, before we welcome the last CFO. And I think the plan and intention is that we’re going to take our time rehiring. We want to make sure we find the right candidate. We are very fortunate that I’ve done this for so long, and it’s not going to be a big burden on me to continue to do this, while we look for the next CFO. So we look forward to updating you guys on that later.
