“we're cautiously optimistic that things can begin to level out towards a more normalized sales environment internationally this year.”

In context

“brand as we stand for something good in all that we do, elevating our teams and communities along the way. We ended the year with solid momentum in the fourth quarter, raising average weekly sales, expanding our margins and investing with discipline on G&A and CapEx. Our performance was led by price and strong in-Shack traffic growth, reaching $76,000 in average weekly sales and 5.1% in same-Shack sales. This momentum has carried into January with total revenue up nearly 35%, including a 17% comp and double-digit traffic growth, as we lapped last year's heavy impact from Omicron. Our licensed business performed well in the fourth quarter despite pressures from COVID-related disruptions in China and other regions, and some of that volatility in our China Shacks has subsided in January and we're cautiously optimistic that things can begin to level out towards a more normalized sales environment internationally this year. Our 18.8% Shack-level operating profit margin in the fourth quarter were supported by our October menu price increase, efficiencies in labor, and positive channel mix as more guests return in-Shack. Rest assured though that our work to build our profitability is far from done. We have a plan in place to continue this improvement in 2023. And given the uncertain economic backdrop, we expect conditions to remain challenging for some time. However, we are confident that we have the right strategic priorities and team in place across the company to navigate these pressures and set us up for solid long-term growth. We've shared a lot of detail around our '23 strategic plan at the ICR Conference in January, presentation and replay of which is available on our IR website. Today I want to recap w”