Mark Altschwager: That’s great. And thank you for the color there. Maybe just to follow up, I mean, the message on SG&A this year has really been about cost savings and efficiencies. What does marketing look like at Old Navy? Is that up year over year? And what do you think — how do you think about the right time line to really lean into marketing, at the Old Navy brand, given the momentum that you are seeing?
Richard Dickson: Thanks for the question. We don’t share the specifics of our brand marketing investments. What I would tell you however is we do a lot of marketing that could be more effective. And part of our operating and financial discipline applies to our marketing and media effectiveness. And you will be seeing a lot more, if you will, creative, consistent, bold narrative breakthrough marketing, that will drive conversion and compelling customer reactions in our omnichannel presentation, but it doesn’t necessarily mean that we are going to be spending more. It’s about being more effective with what we spend. Over the years, I’d argue that our marketing execution has been very, very tactical. And in some cases, on some brands, we’ve lost relevance and a narrative edge.
But when you look at our company history, we have legendary marketing. And I am very confident that we will again, it is a critical part of our reinvigoration work. And you will continue to see more effective brand presentations and communications throughout the quarters to come.
Operator: Our last question will come from the line of Alex Straton with Morgan Stanley. Please go ahead.
Alex Straton: Perfect. Thanks for taking the question, and congrats on a nice quarter. I wanted to ask a couple of follow-ups. One just on the Old Navy. I don’t think that you called out men’s as a point of strength. So I am just wondering what’s going on there, and what would you attribute it to? And then second, maybe Richard for you, you’ve been speaking about this importance of having trend right product and assortments really across the banners. Can you just speak to, like, what type of tactics or strategies you use to implement that across the organization? Thanks a lot.
Richard Dickson: So, first off, thanks for the callout on men’s. In fact, men’s had a weaker first half, and we’ve been seeing the trend actually improved in the third quarter and I think it will continue to find some strength in the back half here. When you look at, what we talk about in terms of trend right products, I think that we’ve done a good job and arguably a very good job with providing what we call the needs. And in that case, it’s providing great basics. And what we have to do a better job of is creating the wants. And that’s where sort of the interest comes as a fashion brand, complementing our assortments with interesting, various different ways that we could leverage trend. Currently, we see trends like cozy, the sweater category working.
And so, how we really prominently merchandise that in storytelling that brings, that to the highlight of a consumer experience becomes an important part of the trend presentation. The color red is trending currently, and we’re starting to react and respond in real time to make sure that we edit our assortment, both presentation wise and merchandising, to feature where we do have the color red. We’re seeing occasion work, fabrications, shine, sequin, velvet, and satin. So, you’re going to start to see reacting and responding in real time to what we see happening in the marketplace. And that may be in the kind of here and now as reaction and responsiveness. But as we look to the future, being more pronounced, driving more design and insight into our product narratives and thought process upfront is going to be part of where we head and reinvigoration for our brands.
And in this business, absolutely, product is hero, and we’re spending a lot of time ensuring that we have exceptional product with exceptional value and exceptional quality. We’ve got work to do, but I’m encouraged by early stage development.
Operator: Thank you. We’ve reached the end of the question-and-answer session. That does conclude our conference call. You may now disconnect.
