Matthew J. Reintjes: I would just add one thing, Megan, there’s nothing about those packs structurally that’s fundamentally different than YETI packs and I think as we evolve and grow and fit to channels to market. Those are all part of our thesis on the opportunity that we see.
Operator: The next question comes from Brian McNamara with Canaccord Genuity. Please go ahead.
Brian McNamara: Good morning guys. Thanks for taking our questions. I just have one. I was hoping you could comment on what you’re seeing in terms of competitive dynamics in drinkware, given the competitor’s recent emergence. In your view is that competitor good for the category, is it appeals to perhaps a different demographic or do you expect competitive pressures to increase from here? Thank you.
Matthew J. Reintjes: Thanks, Brian. I would say YETI has dealt with competitors coming into our broadly defined space since our very beginning. And everything going back in history from private labels, knockoff, me-too’s, brands entering. I think that the recent activity in drinkware really fits in with the macro theme that we’re seeing, which is an awareness around health and wellness hydration. So I think that sometimes competition brings awareness to a category and creates market opportunity. Obviously, we announced today that we have a $1 billion drinkware business that had strong growth in the fourth quarter. And I think we not only appeal to a broad and diverse and growing broad and diverse audience. But we also have a diverse assortment and we’re covering a wide range within drinkware and these expansion areas underneath the drinkware that we’re getting into.
So I think I wouldn’t say singular competition is bad. I think attention to the category is good and I think our approach to it is long term and sustainable. And I think the YETI brand and the way we’ve built it has given us permission to touch a lot of different aspects and broader aspects within that category.
Brian McNamara: Great, thank you.
Operator: The next question comes from Zach Riddle with William Blair. Please go ahead.
Zach Riddle: Hi, so just two quick questions here, Mike. Could you give us an update on the Tractor Supply rollout as far as maybe how many stores or kind of the breadth of product that’s available within the stores? And then secondarily, on the wholesale front with the acquisition of Mystery Ranch and Butter Pat, could you just give us your thoughts on maybe the need for new wholesale door growth as you pursue bags and cookware growth a little bit more aggressively? Thanks.
Michael J. McMullen: Hey Zach, and thanks for the question. So it’s what I’d say about Tractor Supply; first, we’re — we started it in the second half of 2023. Really pleased and excited about the opportunity. We’ve been saying since the beginning that this will be a gradual rollout. It’s going to be phased both in terms of the number of doors as well as the assortment per door. And so we don’t give specific dollars for individual customers. But what I’d say is as we go out in 2024, any sell-in that we have is going to be backed up by sell-through. So we’ll have a — we’ll feel really comfortable as we go through the year in terms of — this is us capturing consumer demand. And as we’ve talked about many times, we want to make sure that we’re expanding the opportunities to reach new customers and new places with new products. And this is just really just part of that overall strategy.
Matthew J. Reintjes: Yeah Zach, and I would add on the — as our portfolio continues to evolve and even our existing portfolio today, it creates opportunities for additional wholesale partners domestically and globally. Our approach to wholesale expansion has always been really thoughtful and first and foremost focused on driving the productivity of our existing partners, supporting our existing partners. We used to use the phrase of consolidate around strength because we thought that was a great way to support that important part of our omni-channel. I think as the portfolio grows, I think there will be opportunity, probably less need than opportunity to go out and do that. And we’ve had a lot of success in the past working with our existing partners on expanding their assortment into categories that maybe they weren’t naturally or historically in, which is a great win and something that we would primarily focus on as we look at additional opportunities.
Operator: This concludes our question-and-answer session. I would like to turn the conference back over to Matt Reintjes for any closing remarks.
Matthew J. Reintjes: Thank you, everyone for joining today. We look forward to updating on our Q1 upcoming call, and have a wonderful rest of the week and weekend.
Operator: The conference has now concluded. Thank you for attending today’s presentation. You may now disconnect.
