Maria Hollandsworth: Yeah. And for us, when we rolled out our menu boards last December, we know that our customers are looking for favorable food and also consistent value. And so we are testing ways to offer more value across our menu to meet this consumer demand. So look more for more information on this in the next quarters as well.
Vince Sengelmann: Awesome. Thank you very much.
Ira Fils: Thanks, Vince.
Maria Hollandsworth: Thank you.
Operator: The next question we have comes from Zach Riddle of William Blair. Please go ahead.
Zach Riddle: Hi, good afternoon. Just a couple of questions for you guys. I guess first off, so just looking at the P&L, the food and packaging costs seems to have come in a little bit higher than we expected in the fourth quarter. Just wondering kind of what drove that? I mean, was it bone-in chicken, boneless chicken, some other ingredients or something like that? Or just kind of what caused that cost to be a bit higher? And then secondarily, I know you just opened or recently opened your second location in Colorado. And I remember last year, the first location was performing really well right out of the gate. So I was wondering if you guys could give us an update on how the Colorado market in general is doing today and maybe how that second restaurant is performing. Thanks.
Ira Fils: Yeah. So the first question, in regards to the commodities, I don’t know if there was any one item that drove that unfavourability. I think we did get a little bit, may be from the Carnitas promo. But we — the basket came in pretty much as we expected for Q4 on that side. From a good news standpoint, I will tell you, yes, we did open our second store in Denver, and we’re very excited how both of them are performing. The first one which opened over a year ago is still performing very well. And the second store is above our expectations as well. So we are very excited about how the two stores in Denver are performing.
Zach Riddle: Great. And I guess, just as a follow-up, how should we think about the cadence and maybe number of LTOs in 2024 versus 2023?
Ira Fils: I think in 2024, the cadence will be similar. We are reducing it from six LTOs to five LTOs this year. So a small change for us just because we’ve seen things, for example, when we’ve seen the positive reception we’ve gotten from items like the Pollo Fit Bowls and the tostadas, the consumers are coming back and they want — we put these on LTO and then when we take them off, they’re like, hey, where are these items that we’ve that we built some frequency on with them. And so that’s why we’ve decided to extend the LTOs a little bit and go from six to five this year.
Zach Riddle: Great, thanks. That does it for me for questions.
Operator: Thank you. Ladies and gentlemen, we have reached the end of today’s question-and-answer session. I would now like to turn the call back over to the management team for closing remarks. Please go ahead.
Maria Hollandsworth: Thanks again, everyone, for your interest in El Pollo Loco, and we look forward to talking to you again next quarter. Have a great evening.
Operator: Thank you. Ladies and gentlemen, that then concludes today’s conference. Thank you for joining us. You may now disconnect your lines.
