Operator: Thank you. And the next question go to Matt Koranda of ROTH MKM. Matt, please go ahead. Your line is open.
Matt Koranda: Hey, guys. Good morning. Just on the Sporting Products segment, any way to quantify or think about the volume price split and the 13% decline within the quarter? I would assume on a blended pricing basis you were up. So does that imply volume down more than the 13%, then how does that feed into sort of the full year outlook that you provided. It looks like maybe a little bit more deterioration in top line in the fourth quarter. But how should we think about volume versus price there?
Gary McArthur: Well, let me have Jason start and then maybe Andy will add a little bit to that.
Jason Vanderbrink: Hey, Matt. Good morning. As far as the question directly, it was mostly volume driven, due to what we had talked about in the opening remarks. And then as far as the guidance that we had given you last quarter, $400 million for the third quarter, $400 million for the fourth quarter, we’re pretty comfortable with that guidance range.
Gary McArthur: Andy, anything you want to add?
Andy Keegan: Yes.
Matt Koranda: Okay.
Andy Keegan: Well, I think, net-net price was actually up for the — there are certain categories that — as we talked about that pricing has been under pressure. But versus last year, net-net, price was actually up. So the decline was volume offset by price going up. Now, there’s mix in there that drive some price, some pressure on that. But, overall, I would say, price is up.
Matt Koranda: Okay, great. And then on the Outdoor Product side, can you just highlight more specifically where you’ve seen strength in the DTC performance? You guys have mentioned that a couple of times both in the prepared remarks and the Q&A. And clarify also, if you’ve seen some positive pockets as well, if you could call out any of those on a year-over-year basis.
Gary McArthur: Yes. I can touch on it. Obviously, we’ve seen a lot of good DTC experience at Simms. We’ve had pockets of great performance in snow as well. Maybe, Andy, you can add some more details, but —
Andy Keegan: Yes. In general, I would say, across the board, the majority of the sites did experience better results. There were ones that are under pressure, but they align somewhat with what we’re seeing in the POS that you’re talking to the hunt/shoot category which is down the most overall. That one did experience continued pressures. But what I think is a highlight is, it’s less than what we’re seeing in our wholesale and the retail channels themselves. So, though it is down, it’s down less, which, for us, gives us indications, as I said earlier, that the demand is there and that we’ll see it come back as we continue to move through some of the pressures we’re seeing in our wholesale channels.
Matt Koranda: Okay. I’ll take the others offline. Thanks, guys.
Operator: Thank you. And our final question today goes you to Ryan Sundby of William Blair. Ryan, please go ahead. Your line is open.
Ryan Sundby: Yes. Hey. Good morning. Thanks for the questions. Gary, Andy, I think, you both mentioned retailer inventories, it’s high in total, but then you’ve had some other categories that are showing stock-outs. Could you give us a rough breakdown of what percentage of the portfolio is over inventory versus correct, versus under, at retail? And then, I think, you mentioned resellers taking in the next couple of quarters to normalize their ordering patterns. Is that across the board, or is that really just for a couple of specific categories?
Gary McArthur: Let me have Andy speak to that.
Andy Keegan: Yeah. Ryan, it’s a great question. I’m glad we can help clarify here. So first thing I would say is, in general, we actually feel our inventories are actually in fairly good shape. There is pockets that are a little bit over inventory, but not on the whole it’s actually fairly good shape. When we say retailer inventory, we’re talking about their total inventory not just our products, but all inventory they’re carrying. And what we see is, and it might be by category that if they’re heavy in all in the category of a total they may not be purchasing anything in that category. And so we’re seeing that happening right now. And so we’re trying to work through that with them. Just as we said, we had stock out in certain areas.
And they’re just saying well others aren’t stocked out. So until we can clear through that that is causing some pressure on us. So our inventories — where we are heavy is some of the areas that we’ve talked about. We look at outdoor cooking has a little bit heavier inventory right now. But on the total, it’s actually in fairly good shape. And we just think that the retailers are going to move through these inventories. And as they get through their fiscal year-end, we’ll start seeing those — them be able to move and reorder at a more consistent basis.
Ryan Sundby: Got it. That’s really helpful. And then, just on the like we are seeking out either more discounts or promotions. Can you talk a little more about, how widespread you’re seeing that? Again, is that across the portfolio? Is it in specific categories? And maybe how does that look for your premium items versus your opening price points?
