Daniel Schleiniger: Okay. Let’s stick with you, Mariano, and this is Felipe’s last multipart question. “Could you please explore a bit more the SLAD EBITDA margin drop due to higher other operating expenses and higher G&A? What are the main drivers of higher expenses? And should we expect continuous deterioration of expenses in SLAD?”
Mariano Tannenbaum: Yes. Well, first, don’t take SLAD’s Q3 as a trend. And also keep in mind that in SLAD at the restaurant level, which includes food and paper, payroll, other operating expenses and royalties, we are seeing an expansion in margins of 120 basis points during the quarter. In terms of G&A and other operating income, there are several positives and negatives that applied during the quarter that should not be taken as a trend going forward. I think that answers the question for EBITDA.
Daniel Schleiniger: Great. Thanks, Mariano. Next, Laura Hirata from Santander. “Good morning, everyone. Congratulations for these results. Regarding same-store sales growth, could you please share with us how much the digital sales have contributed for this strong increase in this quarter? And what can we expect of digital sales as a percentage of total sales going forward?” And so over to you, Luis.
Luis Raganato: All right, thank you, Laura, for the question. Digital sales this last quarter were up 47% and reached more than $731 million, that this is a new quarterly record. This digital sales accounted for 50% of our system-wide sales, and we have an opportunity to equalize, I would say, the performance in many markets because we have big variations when we compare market to market. So there, we have an opportunity. Our top in not only digital sales, but in identified sales is Brazil. The digital sales for the country accounts for 60% and identified sales for 25%. So, what we can see — what you can see in the near future is that we’re going to keep on investing on developing this tool, this channel because for us, it’s going to be really, really important in the future.
Daniel Schleiniger: Great. Thanks. Earlier, I mentioned that Ulises Argote from JPMorgan had a couple of questions. We answered one already. The other one, where he says, “Team, congrats on the strong results. You mentioned higher ROI on new restaurants. Can you comment on return metrics and sales list for the stores you’re remodeling?” And I’ll give that one to you, Marcelo.
Marcelo Rabach: Yeah. Thanks, Ulises, for the question. [Technical Difficulty] that we are experiencing in those restaurants that are modernized and converted into the EOTF platform, typically is in the high single digits when compared to the [Technical Difficulty], that brings a pretty solid, pretty healthy return on that investment. And that’s why we are experiencing the kind of comparable sales growth well above inflation, well above the rest of the market, our peers in markets where we are deploying EOTF, which is almost in every single market of the company. And that’s why in markets where we started with the process later, for example, in the North part of Mexico, where we only have 20% of the restaurants converted to EOTF, that’s one of the growth drivers, which are for the long term that I mentioned at the beginning. So, we will continue to see this kind of positive impact in our comparable sales coming from all the investments we are making in the EOTF format.
Daniel Schleiniger: Great. Thanks, Marcelo. We actually have a follow-up question from Julia Rizzo of Morgan Stanley. I think maybe just didn’t hear the numbers. “So, sorry, a follow-up here. Sales in year one is how much of a mature store?” And I believe Marcelo said in the 75% to 80% range for year one. So that just so everybody has that number as well. And it looks like we actually don’t have any additional questions. So, we’ve reached the end of the Q&A session for today’s call. Thanks again, everyone, for your interest in Arcos Dorados and for joining today’s webcast. Look forward to speaking with you again in the middle of March on our fourth quarter call. Until then, have a great day, stay safe and happy Thanksgiving to those who celebrate.
