“Look, I think what I would say on company-operated restaurant margins, we've been pretty consistent in -- if you look at the full year 2023, we expect company-operated margin percent both in the U.S. and IOM to be in line roughly with where we landed in quarter 4, 2022.”

In context

“ly going to continue to listen to our customers and make sure we're delivering what they need and what they expect from us. Mike Cieplak: Our next question is from Brian Bittner with Oppenheimer. Brian Bittner: Thanks. Good morning. As it relates to the U.S. company-owned restaurant margins, they expanded this quarter for the first time in two years, albeit modestly, but a good indication of maybe your franchise store level margins as well. What was the biggest driver of this? Was it simply easing food cost inflation against still strong pricing? Or was there anything else to point to? And could this be a potential turning point for restaurant margin stabilization in the U.S. or maybe even perhaps some expansion moving forward? Ian Borden: Good morning Brian, yes, thanks for the question. Look, I think what I would say on company-operated restaurant margins, we've been pretty consistent in -- if you look at the full year 2023, we expect company-operated margin percent both in the U.S. and IOM to be in line roughly with where we landed in quarter 4, 2022. I think that view hasn't changed. Obviously, we've had really strong sales performance this year, which is helping. And I think as you've heard me talk about before, the only way you sustainably work through periods of higher inflation in the business is obviously to continue to grow the top line and deliver strong performance. And that's what we're focused on. And we're obviously very confident as we're able to continue to do that that we're going to be able to kind of see improved restaurant margin from a percentage basis performance. In addition, obviously, to the really strong dollar growth that we're seeing on the back of those strong top line sales. So, I think no change to what we expect for the full year this year. But I think, we feel like we're in a really good position with the”