Unidentified Analyst: Yes. That’s helpful. Thanks. And then I also just wanted to ask about the share repo. You guys have been able to purchase quite a lot of stock over the last couple years and you’re still sitting on quite a bit of cash, but you’re also accelerating unit growth. Can you just talk about how you’re thinking about the prospect of additional repo this year?
Chip Molloy: Yes. Well, we’re always going to invest cash in the business first. As we start to get closer and closer to that 10% unit growth a year, I suspect that we’ll be around 3.5% of sales or CapEx, which still gives us a lot of cash. And we’re a share repurchase friendly company. Our goal is to try and see if we can reduce our share count anywhere from 4% to 6% a year.
Unidentified Analyst: Got it. Thank you.
Operator: Thank you. Our next question comes from Krisztina Katai with Deutsche Bank. You may proceed.
Krisztina Katai: Hi, good morning, team. Congratulations on the nice results. Wanted to go
Jack Sinclair: Thank you.
Krisztina Katai: Just wanted to go back to the fourth quarter complements and which was really nice to see that step up especially coming in better than even what your guidance called for. So how much of the improvement do you think is related to Sprouts specific actions that you are doing on merchandising and differentiation? And just overall marketing versus the overall macro with just a little bit less commodity pressure on the consumer really outside of food inflation?
Jack Sinclair: Well, I think we always talk about what we can control and what we are doing within it. And we saw a strong end to the quarter, which we were encouraged by. We think firstly, we were much better in stock in the holidays done when usually are partly because of the focus of the team on some of the implementation of some of the systems that we’ve been talking about. So certain categories, we saw a really strong end to the quarter, I think because of the PICEO investment. So you saw our grocery business strong, our dairy business strong, one or two of the key seasonal businesses were strong. And we think we could €“ next year there’s a platform to do even better seasonally as we chase the volume in that space. So first of all, I think in stock was better and we’re getting better at managing that both at the store level and the distribution with our distribution partners.
So we think we probably take, I would say that as much as anything else could. The other piece, I think we made some nice experiments in our marketing space. We did stimulate some business going into the holidays. Some specific activity that I think helped us a little bit in the fourth quarter going into the holidays or company against more traditional grocery businesses we don’t have those huge peaks for Thanksgiving and the holidays that other companies have and I’ve always seen that as an opportunity for us. And I think we saw the first kind of up the first parts of that coming alive in Q4 or as we work through that. Some of the category work I think has been pretty exciting. We’ve seen some pretty strong, our meat business is come a little bit better than maybe we expected to initially.
So probably some good category work, some good in stock work and a little bit of marketing. We think we did a little better at the end of Q4 than maybe we had indicated in our discussions previously.
