Operator: Thank you. Ladies and gentlemen, our final question comes from the line of Anthony Vendetti with Maxim Group. Please proceed with your question.
Anthony Vendetti: Thank you. So just on the comment about being cash flow positive in the second half of 2023. Wendy, if have decided how much capital will be allocated to the marketing effort? I know you said you’d probably pick up towards the back end of 2023 and then obviously into 2024. But has there been a dollar amount that you’ve determined? Or how do you look at that balance?
Wendy Davidson: That’s something that we’re still really assessing both what we need, but also how we fill that into the overall shape. So I mean I think the way Chris has expressed it is right, which is a ramp up, and you’ll see it as a ramp up. But what that is in terms of dollars, we’re not final on that yet.
Anthony Vendetti: And then just lastly as a follow-up. So I believe North American sales were up 3%. Net sales, up 3% this quarter, in the fiscal second quarter 2023 and they were up 9% in the fiscal first quarter 2023. Is there €“ what do you think the reason is for the €“ to slow down even though it’s still up.
Chris Bellairs: So we talked on our last call about some of the things that were going to be a little bit of a headwind in Q2. We had the hair care program last year that was shipped in both Q2 and Q3 last year. So we’ll see that again as negative overlap that we’ve got to replace in Q3 this year. But that was a piece of the headwind in Q2 that led to modestly lower growth sequentially. There was also a ParmCrisps program, a club store program that wasn’t repeated that led to a little bit of a headwind in Q2. So I think we accounted for most of the things in our guidance on the last call that led to lower growth €“ expected lower growth in Q2 for North America than what we saw in Q1. The one thing that we didn’t see and we didn’t see coming, and we didn’t include in our guidance, it was the reason why we were a little shy of guidance on North American net sales in the quarter was what we were just talking about with Andy, the tea destocking that took place sort of a one-time event that reduced tea sales in the quarter.
And again, we don’t see that continuing on into the back half.
Anthony Vendetti: Okay. Great. Thanks so much. I appreciate it.
Operator: Thank you. Ladies and gentlemen, that concludes our question-and-answer session. I’ll turn the floor back to Ms. Davidson for any final comments.
Wendy Davidson: I want to thank everybody again for joining us today to review our second quarter performance and updated fiscal year outlook. I’d like to close by reiterating how excited I am to be at Hain and about the long-term prospects of our brands and our business. And I want to thank our Hain team for their warm welcome and their action orientation in these first few weeks. I look forward to sharing more with you all on our strategic outlook and initiatives in the months ahead. Take care.
Operator: Thank you. This concludes today’s conference. You may disconnect your lines at this time. Thank you for your participation.
