“We do expect to improve the trajectory of the India business beginning in Q2 through targeted activation, distribution gains and an improving macro backdrop resulting from income tax relief and recently enacted interest rate cuts.”

In context

“ss frequency from lower income households. Given we gained share, our total consumption was pretty much flat. We are continuing to sharpen our offers, such as recently introduced 5 Star, which have shown good momentum along with improving store execution and increased distribution to drive improved results as we move through the year. North America OI decreased by 18% due to lower volume and cocoa inflation from our Canadian chocolate business, but also for the US biscuit. AMEA grew 1.8% for the quarter. China delivered another strong quarter with mid-single-digit volume-led growth driven by focused initiatives around Oreo, Chips Ahoy, and Stride. India declined high-single-digits, lapping a strong prior year as overall consumption was challenged by inflationary pressures and wage growth. We do expect to improve the trajectory of the India business beginning in Q2 through targeted activation, distribution gains and an improving macro backdrop resulting from income tax relief and recently enacted interest rate cuts. Australia, New Zealand, and Japan delivered another strong quarter with mid-single-digit top-line growth due to strong Easter execution and pricing. AMEA OI dollars declined 8.3% due to materially higher cocoa prices that were partially offset by pricing and cost discipline. Latin America grew 3.9% with solid pricing execution and a volume mix decline of 2.5%. Brazil posted mid-single-digit growth with strong chocolate and biscuits. That was partially offset by weaker powder beverage results. Mexico grew low-single-digits with growth in biscuits, chocolate, and gum while candy was down. The Mexican economy is showing signs of slowing, which we are continuing to monitor and factor into our plans. Latin America OI declined 12.4% due largely to increased cocoa inflation. Turning to Page 14 a”