And we talk a lot about the number one indicator for our brand strength is around word-of-mouth. So, we feel very good on that. And even with the guidance that Keith shared, we will still be gaining significant share. The second, we’re very clear around our touchpoint openings for this year. The performance is continuing as we see our new showrooms outperforming on their performance. And I think Keith talked a bit about some of the economic benefits that we’re getting as we manage our fleet and occupancy charges. And then, I think the third one is we’ve always planned very conservatively. And I think we’ve gone through two years of very tough double-digit declines. And this team consistently, every time, outperforms. And the one thing I’m very proud, even as we talked about some of the weakness in February, this team pivots fast, we test, we move, we adjust, and everything that Keith has laid out in the forecast will continue.
So, I think there’s a lot that we feel very good about for this year and beyond. And everything in terms of the financial performance continues to show that for us.
Shawn Nelson: Yeah. And I’ll just tag on. This is Shawn. Maria, appreciate the question. The aspect to Lovesac that is probably overlooked particularly at tough times like this for the category is that for the last decade, we’ve invested very fastidiously and intensely in building our brand. And what I’m speaking to is, there is obviously a lot of competition, particularly in the digital landscape for couches, modular couches, et cetera, because of the fervor we’ve created and obviously the growth that we’ve garnered in this realm. The big difference between Lovesac and all of those competitors in that realm, as well as some of the competitors in the traditional realm, most of the competitors, and this is based on our own internal brand strength studies, is the strength of this brand, and that’s taken a decade to build.
And it’s not just a digital marketing engine that’s kicking butt and making hay when the sun is shining, but a real effort to — through the activations, through the events, through obviously relentless traditional advertising, TV advertising combined with digital, et cetera, that’s really built a lot of awareness for our brand, a lot of acceptance, a lot of love, and a lot of demand. And so, Lovesac is a highly sought-after product. We’ll continue to launch more products underneath this brand flag, and we expect them to perform well just as we continue to perform well versus the category. And so that brand strength really carries us through a time like this versus many others who are really focused on just converting through digital means or relying on foot traffic in showrooms, et cetera, in stores, et cetera.
Lovesac is a real outlier in this way and I don’t think it’s fully appreciated or valued, and that’s okay. We’re focused on — it’s taken this long to build the brand to this point. It will take another decade to take it where we want to take it. And that’s our point of view at management. And in the meantime, we’ll continue to shuck and jive and do all the things necessary to perform against the category, gain market share and emerge with some really exciting new products on the horizon in the nearer and medium term, even if this category will rebound.
Maria Ripps: That’s very helpful. Thank you. And then, secondly, can you maybe give us a little bit more color on your trade-in and resale initiative? What are some of sort of logistic investments that are needed to enable this initiative? And will you be sort of just connecting, buying and selling consumers? Or will you be taking ownership of this inventory?
Mary Fox: Yeah. Great. Thank you, Maria. This is an initiative we’re very passionate about because I think as we talk about the infinity flywheel, we’ve been very active around the left side, around driving amazing brand awareness, touchpoints that [indiscernible] with an incredible Designed for Life platform and an amazing product, that are for life, and the ability to be able to establish the services that we’ve touched on is so important. So, the work that we started last year around circular operations was just starting to build the foundations for the ability to do trade-in and resale. And I touched a little bit on just the fact that we’re even just in this foundational build, launching an internal test for our own team members around open-box item sales and just building the technology to be able to do that.
And we have an external partner that is also helping us with that, also working in terms of just the overall S&OP processes that have to happen. All of that is baked in in terms of those investments into our business for this year. And then later in the year, we’ll come back and share with you the progress that we’re making for the sale and trade-in. And so, yes, as we build that loop out, there will be a dip of inventory, and we will be then managing that through. We see a very high demand for our product on the secondary market today. So, it is happening today. So, the ability for us to have an amazing brand experience and really do something that no one else can do. Because other brands, it’s much harder for them to do resell and trade-in.
It’s super expensive logistically and very complicated and hard to keep the product intact. So, as we talk about innovations to come and then the ability for our customers that bought a product 10 years ago, they’re able to trade-in covers, get new covers and be able to build up their lifetime value, we are very excited about this ability. So, we look forward to sharing more news for you, and the progress of this obviously very critical initiative.
Maria Ripps: Got it. Thank you very much for the color.
Operator: Thank you. Our next question comes from the line of Matt Koranda with ROTH MKM. Please proceed with your question.
