Operator: And our next question comes from the line of Lorraine Hutchinson with Bank of America. Please proceed with your question.
Lorraine Hutchinson: Your sales guidance continues to include pressure from increased points of distribution for Prestige. Can you talk about what you’re seeing in the fleet when one of these new stores open and how meaningful it is?
Dave Kimbell: Yes. We’re certainly watching, monitoring, tracking all competitive activity across the landscape. And as I’ve said before, our focus continues to really be on offense for us to really leverage what we do best, the unique differentiated model we have. Nobody does what Ulta Beauty does. So our competitive strategy is is to lead and to drive our business forward. Having said that, we are watching, there are changes. When stores, competitive stores open, depending on the circumstances of the situation, we can see a relatively minor impact. Typically, over time, our business sustains and recovers any short-term impact. So we’re confident. And again, our focus is on delivering what our experience is. What we found over time is doing that allows us to continue to find growth and deliver an experience that our guest continues to want to find at Ulta Beauty.
Operator: And our next question comes from the line of Ashley Helgans with Jefferies. Please proceed with your question.
Ashley Helgans: Congrats on the quarter. So we just wanted to ask about the promotional landscape that you’ve seen heading into holiday. And if you feel discounting at other retailers has been as heavy as initially expected.
Dave Kimbell: Yes. I guess, we’d say for holiday, a little early to know exactly. I mean, we’re right in the middle of the battle here, I guess, with our biggest, biggest weeks of the holiday period still ahead of us. And we know we’ve been — I think we shared this at our last call and really any time we’re talking about holiday. Holiday is a more promotional period. The November, December period is different than the other 10 months of the year because the gifting aspects, the idea that we’re not just competing with beauty. We’re competing with other gift categories across retail. The landscape, it’s hard for us to judge midstream exactly. What we’ve been delivering is an aggressive promotional, but not wildly different than what we’ve done in the past.
So we’ve seen consistency there. So far, we’re really encouraged by what we’re seeing, feeling like Ulta Beauty is well positioned and competing effectively, but we’re also monitoring, tracking and ensuring that we close out this next, I guess, 24, 25 days with excellence as we complete the holiday, and that’s our focus going forward.
Operator: Our next question comes from the line of Mike Baker with D.A. Davidson. Please proceed with your question.
Mike Baker: I just wanted to ask a little bit about cadence, the month throughout the third quarter. And then November, you said it slowed. I guess, I’m just wondering, within your 6% to 8% guidance for the fourth quarter, we know the comparisons get easier in December relative to November. Is that contemplated within the guidance? Or maybe another way to ask it is, is November slow? Did it slow below 6% to 8% and you need to pick up to get there? Or is it within that range?
Dave Kimbell: Well, what I will say is first on the third quarter, we saw a strong growth throughout the quarter, although October was modestly — decelerated modestly, but still double-digit growth in each period of the quarter. As is suggested in our 6% to 8% guidance for the fourth quarter, we’re anticipating deceleration from what we saw in the third quarter and really throughout the year. And we’ve been kind of anticipating this all year as we — our comps are strong. And again, we’re in a different type of period in holiday. We’re not going to get into specific week-by-week replay yet. We’ll, as I said, we’re right in the middle of it. We’ve got big weeks ahead of us. We’ll obviously share — when we share our fourth quarter results, all the details.
But what I will say is, again, reflected in the six to eight is an anticipated healthy growth, but not to the level of what we saw in the third quarter, and we’re encouraged by what we’re seeing so far in the holiday period, knowing that there’s a lot of ground still to cover as we complete holiday. And January is a big important period for us as well. So still a lot ahead of us, but encouraged by what we’re seeing so far.
Operator: And our next question comes from the line of Adrienne Yih with Barclays. Please proceed with your question.
