“We expect International to accelerate its growth over the next 2 quarters to achieve 450 to 500 net new coffeehouses in fiscal 2026, of which China still comprises close to half.”

In context

“h of our realized savings across the P&L are being offset by our strategic investments in our Back to Starbucks plan. We continue to expect our consolidated G&A dollars to run below fiscal 2023 levels even after incorporating greater performance-based compensation related to better-than-expected financials. Putting this all together, we are raising our EPS guidance at both ends of the range to between $2.25 and $2.45. China's transition to a JV structure is now expected to be relatively EPS-neutral this fiscal year. While global macro factors can introduce variability in our results, our guidance reflects our current view and confidence in the underlying business. Finally, from a unit count perspective, we still expect to add approximately 600 to 650 net new coffeehouses this fiscal year. We expect International to accelerate its growth over the next 2 quarters to achieve 450 to 500 net new coffeehouses in fiscal 2026, of which China still comprises close to half. We also continue to assume 150 to 175 net new U.S. company-operated coffeehouses this year, and we will continue to assess our existing portfolio as we rebuild our development pipeline. In conclusion, our results this quarter deepen our conviction in the long-term trajectory of our business and our Back to Starbucks plan. Our improving execution, brand relevance and customer experience reflect who we are and the progress we're making. This is Starbucks. Our work isn't done, and we remain clear eyed about our path forward to deliver a stronger future. And with that, we are now ready to take your questions. Thank you. Operator? Operator: [Operator Instructions] Your first question comes from Brian Harbour with Morgan Stanley. Brian Harbour: Yes. I'm curious if you could talk about sort of t”