Rodney McMullen: Thanks, Michael. If you look at overall, they say in economics, all short statements are wrong. And you have CPGs that are all over the board in terms of their approach. Some CPGs are very willing to give up tonnage. And if they are, Our Brands will stay — will be there for a customer to give them incredible value. And what we find is when a customer tries Our Brands, our repeat rate is incredibly high because of the quality and the value for the money. If you look in the quarter, in terms of funding, it was really done by CPGs and us. And as I mentioned earlier, CPGs were more aggressive in funding some of the promotions in the third quarter than the second quarter, and would expect that to continue. We are seeing more CPGs worrying about their tonnage growth, and I think that’s part of what’s driving that willingness, too. So, I appreciate the question, and thanks, Michael.
Operator: Thank you. Our last question goes to Kelly Bania of BMO. Kelly, please go ahead. Your line is open.
Kelly Bania: Good morning, Rodney and Gary. Thanks for taking our questions.
Rodney McMullen: Good morning.
Kelly Bania: I wanted to go back to the comment about building a more diverse ecosystem and talk a little bit more about alternative profit growth. I think there was a comment that, that is still growing double digits, which I think would mean around $150 million to $200 million in incremental year-over-year profit. But maybe just wanted to give you the opportunity to comment on that if that’s the right ballpark. And how many more years can this business continue to grow at double-digit rate into the coming years?
Rodney McMullen: Yeah. I don’t know that Gary and I will want to give the specifics for ’24 on the alt profit since we’re still going through the process. But we would expect alt profit to be a meaningful contributor of growth next year. And that’s really driven by two things. One is our continued growth in our digital business, which is supporting our media business growth. And we think we’re just getting started on that. If you look in the media world, your competitors are Google and Amazon and Meta and Walmart, and then a lot of other players. And one of the things that we think transparency is so important in being able to give people good data is we think that is incredibly helpful relative to the Googles and Metas and others.
So, we see a long-term opportunity to continue to grow the business there. And the specifics, I don’t know that we want to get there either. And if you look at some of the other alternative profit businesses, some of those, we have wide variance of performance within the company. So, part of that growth is just driven by taking best-in-class within our own company and growing that as well. So, Kelly, I appreciate the question. And thanks, everyone, for all the questions. And as always, I’d like to take a few moments to share some comments with our associates listening in. To start, I’d like to say a huge thank you for all the hard work that you’ve done to make the holidays be so memorable for our customers and what you will do for the — following the rest of the holiday season to make it equally as memorable for customers.
As you know, food plays an important part in any celebration, and it provides an opportunity for people to connect and people that we love, especially with them and sharing special moments. If you had a chance to see our holiday film, you saw that idea come to life. And if you haven’t seen our holiday film, you can go to YouTube to look at the full film. And it really does recognize that food connects us all. And whether that’s honoring family traditions or creating new family ones, I’ve just been so inspired to see how our associates and our customers on sharing their videos and the unique ways they celebrate the holidays. As I said before, thank you for everything you do to create special memories for our customers every single day. And thank you, everyone, for joining us.
We wish everyone a happy holiday season, Merry Christmas and Happy New Year.
