David Marberger

“Let me try to give you a little bit of color here. So as we talked about for Q1, we did have some favorability in proteins relative to our planning. So we were a bit favorable, which drove some of the favorability we saw in Q1.”

“So for our fiscal 27, our material spend coverage is generally consistent with the prior years at this point. So we're roughly 60% covered, and this is total materials, 60% covered for Q1 and roughly 40% covered for the full fiscal year.”

“Yeah, I mean, Andrew, I think you hit it with the shift in kind of the trade inventory from Q2 to Q3, wrapping the supply constraints from the prior year, and then wrapping the unfavorable Q3 trade adjustment a year ago.”

“So taking the last part first, it was about 50 basis points of benefit in Q1, the trade timing, and then that will flip to Q2.”

“So if you look at our total cost of goods sold, so when we quote inflation of 4% core, that's on our total cost of goods sold. Roughly 60% of our total cost of goods sold are material costs.”