Jeff Van Sinderen: Okay, helpful. And then just one more quick one to squeeze in. Just any update on the search for a new — I think you’re looking for a new CMO?
Edmond Thomas: It is actively in process. So a lot of good candidates.
Operator: Our next question will come from Matt Koranda with ROTH MKM.
Matthew Koranda: Some of mine have been asked already, but just — the comp guide for the quarter for Q1, it sounds like you expect things to maybe improve into March and April. So maybe just — is that easier comparisons that you have that you’re lapping? Are you assuming some recapture of demand, sort of post the bad weather we’ve had here in California? Just curious if you could give us some of the assumptions there.
Michael Henry: Sure, Matt, this is Mike. Yes, our compares get meaningfully easier from here forward. So we noted in our prepared remarks that we were going up against a positive 15.4% comp from February. And then as you go into March week 1, last year, we were down 3%, then down 8%. Then down 27%, 24%, 38% to finish March with a minus 23%. And then April was a minus 16% with just very consistent negative double digits all month long. And then that really carries all the way through the year. So negative double-digit comps every month for the rest of the year. We do think that the weather out here in the West had a pretty negative impact on us, on top of going up against our last month of double-digit comps from last year. California, both Southern and Northern, are our 2 weakest areas of performance so far, and they had the largest drop off of performance from where they were in Q4.
As Ed mentioned, all areas are negative. But in the fourth quarter, Southern California, in particular, was our strongest performing market. It is now our weakest. So there’s been a really big swing there of 14 comp points to the negative. Somewhat similar in Northern California, it was our second or third best performing area in Q4. It is now our second worst, and it has dropped by 7.5 comp points so far from the Q4 run rate to now. So seeing that dynamic and understanding just the craziness of the weather we’ve had out here for the past several weeks, we do believe at this time as we start to go up against those weaker comparisons and hopefully get some more normalized spring-ish type of weather, that we’ll see the business turn. It hasn’t happened in stores yet.
We have seen some movement in e-com, I would tell you. E-com has had a few positive days here and there, not consistently. But it is in the negative single digits as opposed to stores are still at minus 20 at this point. So it’s another thing, like we’re starting to see signs of life on the e-com side of the business, it just hasn’t carried over to stores yet. So that’s how we’re thinking about things as we sit here right now.
Matthew Koranda: Okay. Very helpful color. And then just on inventory, I mean, you guys obviously very clean on a square footage basis. But I think, Ed, you mentioned something in the Q&A here about feeling a little bit better about newness and maybe you didn’t feel as good about it in the fourth quarter. But just — anywhere you feel like you need more on inventory to kind of serve the needs of your consumer? And then just inventory trends, maybe for Mike, just at the — how we should expect that to trend through the year? Is it pretty normal seasonally this year, a return to normal, I guess, and that we should expect a little bit of inventory build in the first quarter? Any trends you can mention throughout the year in terms of expectations would be helpful.
