“On the cost saving side, we are very confident in our previous statements that we will return to pre-COVID levels across cost of goods, media savings, and general productivity on the overhead side, and I think you saw that play out in quarter four.”

In context

“Olivia Tong: Great, thank you very much. Two questions, first on cost savings. That obviously improved materially as the year progressed, so do you feel like this is a sustainable improvement from here, or to what extent does this perhaps reflect an elevated level after last year’s was a little bit depressed? My second question is just realizing [indiscernible] strong innovation and that’s led to a greater consumer willingness to stay with your premium brands. You alluded--you just talked about Dawn, for example, and that’s obviously driven your ability to grow the category even when consumer are trading down to private label in certain instances, so perhaps you can talk about your innovation plans for fiscal ’24, how they compare to years past. Thank you. Andre Schulten: Morning Olivia. On the cost saving side, we are very confident in our previous statements that we will return to pre-COVID levels across cost of goods, media savings, and general productivity on the overhead side, and I think you saw that play out in quarter four. As line time becomes available, as we have more time with our suppliers, for example, as we start to implement supply chain 3.0, we’re very confident in our ability to create up to $1.5 billion of net savings within the supply chain. We continue to generate significant amount of savings via our media programs, and every business is looking at productivity opportunities to balance labor and wage cost inflation within the overhead structure, so I think quarter four is a good indication that we are able to do just that - get back to pre-COVID levels of productivity within those buckets that I described. In terms of innovation, what I’d tell you is, number one, we never stopped innovation, so we prioritized strong innovation throughout COVID and supply chain struggles because we knew that was”