“I think we're in a near-term pressure point here where so many of our ingredients are up, and we expect them to continue to be up for this year.”

In context

“he year versus the first half of the year and potentially even growing year-over-year? Thanks Randy Garutti: Yes. Thank you. Look, there's a few things at play there. We've given clear guidance for 2Q, which has shows what we expect to be increased margins. There's a wide range there, because there's a lot happening. We're not going to comment on the back half other than to say, I think there's a lot of uncertainty. And look, we are all living every day in a continued inflated environment that continues to surprise us and everyone else in every company you see. That happens across our cost of goods Katie and the team have given more detail than ever, and I'll let Katie talk about that a little bit. So look, we expect we're going to continue to be a company who can generate strong margins. I think we're in a near-term pressure point here where so many of our ingredients are up, and we expect them to continue to be up for this year. So, we don't know exactly where the beef market is going to go, where our key inputs are going to go. We've given the best guidance we possibly can on that, and we'll see outgo. But we're encouraged by how the first quarter went and our expectations for where the second quarter we hope will go if we see a continued urban and recovery trends that we've been experiencing. Katie Fogertey: Yes. I don't have a lot more to add on that, and thank you very much, and thanks to the team also who helps us together this great report here. But I would point you to Page 12. It sounds like you've already kind of taken a look there, but we give a great dive on our basic composition as well as our outlook for 2Q and then the rest of the year. And as Randy hit on, this is our best look at this point in tim”