Raj Vennam: Yeah, Brian. It’s really labor. I expect the hourly wage inflation to be in that call it mid-single digits. And then their salary to be also closer to that. And some of that is a function of how we choose to pay our people. We are — our merit increases have been above the industry and we think that’s prudent. We want to continue to do that. And that’s the type of investment we make to help us sustain the types of performance that we’ve been able to deliver. You look at a 400 basis point, 500 basis point gap to the industry that doesn’t happen, magically. They are lot of things that go into that. And we are very thoughtful about how we make those decisions.
Brian Bittner: Thanks, Raj.
Operator: Thank you. Our next questions come from the line of David Palmer with Evercore. Please proceed with your questions.
David Palmer: Thanks. I wanted to ask you about your assumptions on same-store sales through the year. And in particular, if you have any thoughts about — often a concern about multi-year trend slowing over this next fiscal year and how you’re thinking about that potential in your guidance.
Raj Vennam: Yeah. The way we’re thinking about — in terms of how we build the plan is that we expect retentions levels to be fairly similar to moderate a little bit relative to pre-COVID from where we were this fiscal year. So not a significant drop-off, but a little bit. But then, I think from a same-restaurant sales perspective, it’s going to be driven by the pricing differences. The fact that we’re going to start off with the higher price and then the price moderates down to — the rate of pricing goes down to 2% by — closer to 2% by Q4. That will have an impact on same-restaurant sales. As we think about guest counts, as I mentioned, the retention, we expect it to be fairly consistent quarter-to-quarter relative to last year.
David Palmer: And with regard to advertising, what sort of assumptions are embedded into your earnings guidance for advertising spend?
Raj Vennam: We basically are assuming somewhere in that 10 basis points to 20 basis points more than what we spent last year in total marketing. So that’s kind of not that different from what we did in fiscal ’23.
David Palmer: Got it. Thank you.
Operator: Thank you. Our next questions come from the line of Andrew Charles with TD Cowen. Please proceed with your questions.
Andrew Charles: Great. Thank you. Given the slow macro forecast for 2024, I’m curious how that impacts your thinking around Never Ending Pasta at Olive Garden. The one value oriented promotion that fits your provincial framework. I guess the question is, are you open to changing the timing of promotion or perhaps in running it at two different times during the year to keep pace in the potentially slowing macro backdrop?
Rick Cardenas: Hey, Andrew. For competitive reasons, we’re definitely not going to talk about plan details. We do believe the Never Ending Pasta Bowl is a really strong promotion for us, especially with the changes we made last year. And so we’ll look at any PB and if there’s things that we can do with it. But definitely not going to talk about if we’re going to do it twice.
Andrew Charles: Okay. And then, Raj, please help us what’s embedded within 2024 guidance for G&A?
