Operator: Thank you, one moment for our next question. Our next question comes from the line of Jeffrey Bernstein, with Barclays, your line is now open.
Jeffrey Bernstein: Great, thank you very much. Just following up on the Fuzzy’s. I know you mentioned that, I guess it’s already built into guidance. And I think you just mentioned that it’s not material enough. But is there any qualification in terms of sales or EBITDA da or any specifics you can provide? As we try and build out by this as an incremental layer to the 2023 guidance?
John Peyton: In terms of sales, we talked about Fuzzy’s system sales about is roughly 220 plus million dollars in system sales. And then in terms of G&A and EBITDA, for this year, roughly equates to what the company owned restaurant, the 69 restaurants used to contribute to our P&L. So as I said, before, going forward, there’s a lot of growth potential, but for now, sort of roughly equivalent to what the 16 restaurants would do.
Jeffrey Bernstein: Understood. And I think you mentioned from a cost standpoint, obviously, things easing in ’23 versus ’22. I think you said mid-single digit food basket. Should we provide the detail in terms of one what’s contracted for the franchisees and two, how much pricing may be cooperated suggesting or how those pricing conversations have gone with franchisees?
John Peyton: Right now, I think we’re, we’re at sort of 40% to 60% of our fee cost pricing is locked in for the next 12 months. I think this is still we’re still at lower fixed pricing level than we normally would because, the current spot markets are still pretty high and for risk premiums are pretty high. So that’s what we’re seeing And could you remind me your second question again,
Jeffrey Bernstein: Yes, just how that pricing conversation is going with franchisees, whether it’s alright and making their own pricing decisions, but how they’re thinking about that going into ’23, relative to maybe what you’re suggesting or talking about?
John Peyton: Yes, it’s completely up to the franchisees to determine menu pricing, but the conversation we’re having is obviously focusing on the longer term grab market share and focus on traffic that’s what’s going to drive enterprise value for themselves and for us.
Jeffrey Bernstein: Understood. And lastly, just based on the assumption for positive traffic as we move through ’23, just trying to compare what you’re thinking for your brands, and maybe how you think that compares to the relative industry for 2023 on traffic?
John Peyton: We haven’t guided on traffic before. And so, I think that the reason being different industry players have different definitions of traffic. So, but it’s a key focus, as you could imagine, for us and all the campaign’s all the investments our aim to improve our guest experience and drive traffic. But we haven’t guided on that point specifically, before.
Jeffrey Bernstein: Okay, thank you.
Operator: At this time, I would like to turn the conference back over to Dines’s Chief Executive Officer Mr. John Peyton for closing comments.
John Peyton: Thanks very much. We appreciate everybody’s questions this morning. And always appreciate the time you take to talk with us and I know we’ll be speaking with some of you throughout the day, and have a great day and take care.
Operator: This concludes today’s conference call. Thank you for your participation. You may now disconnect everyone have a wonderful day.
