“So, we feel really confident about our ability to grow margin percent over the mid- and longer-term as we drive that stronger traffic and volume growth in the business.”

In context

“ously overall wage increases, so you've got that pressure. You've still got commodity pressure even though this year we expect '24 increase in commodities to be in that low single-digit range. We've got some carryover impacts from higher inflation rates in '23 through the first part of the year, and still some increase there. So, you've got cost pressures, more muted sales growth. And then I think for sure, there's a little bit of an impact from I think the affordability positioning. I mean, obviously, that's an investment, a short-term investment that we think is really important to make because obviously, we grow margins and we grow profitability by growing volume and we want to be in a position to be able to do that. And clearly, that $5 meal is doing exactly what we want in that area. So, we feel really confident about our ability to grow margin percent over the mid- and longer-term as we drive that stronger traffic and volume growth in the business. Chris Kempczinski: Maybe I'll just clean up the one other thing that you asked about, Sara, which was around development. And right now, we're seeing good returns on our new units. As we look at the US, we're on pace to hit our development goals in the US. It's certainly something that we pay very close attention to, but right now, from our vantage point, we don't see any impact to our development goals. And as you know, as we've talked about on prior calls, this is something that we spent a fair bit of time looking at it and being pretty detailed in our assessment of the opportunity and we make these decisions over a longer time period. There will be ups and downs with the business, but from our vantage point, the long-term development opportunity that we saw in the US that stays intact.”