Jacqueline Ardrey: Thank you.
Operator: Thank you. And our next question comes from Joe Gomes from Noble Capital.
Joe Gomes: Good morning, and thanks for taking the questions.
Jacqueline Ardrey: Good morning.
John Enwright: Thank you, Joe.
Joe Gomes: I wanted to kind of follow along here on the question about Vera Bradley and the store opening/closing. You guys have said in the past that the full line stores are the ones that attract the higher household income customers as opposed to the factory stores. But if you cut 10, that’s 20%, this year alone on the full line stores. I mean, are you seeing those customer — higher household income customers go to the Factory stores? Or how are you attract into the Factory stores? What are you doing not to lose that higher household income customer?
Jacqueline Ardrey: Yes, I think that’s a great question. And I think the short answer to that is that we’re really relying on e-commerce to help fill that gap and to identify the customers that we want at the demographic that’s appealing for our brand and, again, that’s how we’ll be able to more effectively target those customers.
Joe Gomes: Okay. Pardon me. So you talked about the focus on core categories. One of the things that you had introduced the end — towards the end of last year was your footwear line, wondering: one, is that something you would look at as a — look as a core category and; two, how is the footwear line been doing in the — how did it do in the fourth quarter?
Jacqueline Ardrey: So footwear was a product expansion that we were very excited about and continue to be excited about. Our spring footwear has started off very strong. So again, we’re going to look at all of these programs and in relationship not only to sales, but to really identifying in a targeted way, what is happening with the customer and how it’s driving her value over time. So those are — that’s analysis that’s happening right now.
Joe Gomes: Okay. And maybe switch over to Pura Vida for a second. You mentioned there one of the challenges in the quarter was your wholesale account. Maybe you could just give us a little more color detail of what is happening on the wholesale side over Pura Vida and what we’re looking to do to see that line, that segment turn back up for Pura Vida as opposed to going down.
Jacqueline Ardrey: Sure. I think in q4, we definitely saw some hesitancy in our retail partners just due to the macroeconomic environment and people just holding their open to buy dollars tightly. And that definitely had an impact on Pura Vida, much more than it did on Vera Bradley. But we did see early in the quarter that that was the case at Vera Bradley as well. What we’ve seen since then, is a little more positivity from our retail partners. So we’ve definitely seen that that pipeline increase since the beginning of the year.
Joe Gomes: That’s good news. And one last one, for me. Great job on the inventory levels. Seeing what the projections are for fiscal ’24, John, are you looking for additional leverage there on the inventory being able to reduce that even more from where you are? Do you think that where we are today is year-end is a good level?
John Enwright: No, I think we’re going to continue to look for opportunities to reduce debt level to improve our turn. So as we built out the cash flow associated, the free cash flow associated with next year’s guidance, we expect inventory levels to drop from where it is today.
