Craig Pommells: No, I’ll just — so of the 130 basis points in Q1, I believe marketing was something like 80 basis points, something like that of the Q1. So I’m not suggesting that we’re going to be investing incrementally more than that. Maybe we do, but it would be modest. So it could be a little bit more than that, it could be a little bit less. But I don’t think our marketing spend will be as a percent of sales at the levels it were — it was at in 2023. It’s going to be higher as a percent of sales, moving into 2024 than it was in 2023.
Todd Brooks: Okay. Perfect. And then it looks like ex the one-time expenditures in the quarter, the G&A came in a little bit more efficiently than I expected. Would you encourage us to budget that type of mid-5s percentage of sales? And then what’s the cadence of the CEO transition cost and the strategic initiative costs, how do those come in over the balance of the year? Thanks.
Craig Pommells: I don’t expect anything dramatic as it relates to G&A. And I probably wouldn’t get into a lot of detail there. In terms of the cadence of the one-time costs, I do expect that there will be more of that expense related to the CEO transition in Q2 because of the accounting for really, Sandy, prior CEO has earned retirement benefits. She officially retired as a CEO early in Q2, and as a result of that, I think that will drive some more expense in Q2. I expect the consultant cost to be fairly flat going forward from Q2 through Q4. We didn’t — we started at midpoint — at about the midpoint in Q1. So would expect Q3 and Q4 to be relatively flat for that line item.
Todd Brooks: Okay, great. Thanks, Craig.
Operator: Our next question comes from Aisling Grueninger with Piper Sandler. Please go ahead.
Aisling Grueninger: Hi, good morning. My question is on Maple Street. On the last earnings call, it was mentioned that Maple Street weekdays were still challenged. We’re just wondering you’ve seen any improvements in that and how you’re thinking about the growth of Maple Street over the course of the year?
Craig Pommells: Hi, Aisling, this is Craig. The Maple Street, interestingly, over the course of the quarter, we have seen really solid traffic improvements at Maple Street. The weekdays do continue to be — do continue to be softer. But instead, we’ve actually doubled down on the weekends. We’ve extended our operating hours on the weekends because the demand is so high, and we’re seeing really good progress there, particularly for weekend lunch. As we think about the long term, we’re really excited about the business. It’s a differentiated business. We like the location strategy. It’s complementary to Cracker Barrel. And at the same time, and we’re continuing to grow it. We were a bit behind it opening this quarter. That was more a function of construction delays than anything else.
And we’re continuing to grow the business at a moderate pace, but we also realize that there is more work to do on the business model, in particular on the weekdays. So we’ve seen some improvement on the weekdays, but we’ve actually seen more improvement over the weekend, so which is a positive, but we still need to do some more on the weekdays.
Aisling Grueninger: That’s great to hear. Thanks, I’ll pass it back.
Operator: This concludes our question-and-answer session. I would like to turn the conference back over to Julie Masino for any closing remarks.
Julie Masino: Thank you all for joining us today. We’re encouraged by our improved traffic trend and our start to Q2. And while we are mindful of the competitive and uncertain environment in which we continue to operate, we are cautiously optimistic that we will sustain this momentum and drive improved performance over the balance of the year. We have a lot of work ahead of us to achieve our objectives, but we have a strong foundation in place, and I’m confident that our talented teams are up for the challenge. Before we sign off, I’d like to wish you all a happy holiday season and express my sincere appreciation to our more than 70,000 employees not only for their hard work over Thanksgiving last week, but for the warm welcome they have extended to me, since joining the Cracker Barrel family and for all they do every day, every shift to delight our guests and to bring this great brand to life. Thank you all and happy holidays.
Operator: The conference has now concluded. Thank you for attending today’s presentation. You may now disconnect.
