Unidentified Analyst: This is Ashley on for Brian. I wanted to ask about the recently acquired UK stores. I was wondering if you could expand on your thoughts for your initial plan on these stores. Do they need a lot of TLC to get them to the levels you want internally? And I guess separately, what does the remaining franchisee health look like in the UK?
Rob Lynch: Sure. I mean, when you say TLC, I would say yes from an operating standpoint, but we’re not planning on having to invest a ton of capital. They don’t all need to be remodeled. I mean, we have great. We have a great operating footprint with the stores that we bought. We’ve had to build out a bit of obviously a field operations infrastructure and the support that goes behind that some HR, finance, those types of things. So those are the costs that, we’ve had to put into that investment above and beyond just the purchase of the assets. But the rest of the franchisees, with 118 restaurants, we now own almost a quarter of the UK market and we are leveraging that asset base to make sure that we fully understand how to optimize that model similar to what we’re doing in the U.S. and then scale those optimizations and those improvements across the franchisee base.
And the franchisees that are going to win are the ones that are going to adopt those principles. We’re already partnering with multiple franchisees in that market to do some consolidation. Not on our part, but helping them to consolidate some restaurants with franchisees that we believe will be the best operators moving forward. So yes, there may be some changes that happen over there. But I think that the model that we’re building is going to scale pretty, pretty rapidly and our intention is for those restaurants to become more profitable. And we may choose to operate those for the long-term, we may find franchisee partners who can come in and grow with us and we franchisee some of those assets. We have a lot of optionality over there dependent upon what the right situation is to make sure we we’re setting that system up for long-term success.
Operator: I would now like to turn the conference back to Rob for closing remarks.
Rob Lynch: Thank you. So, I would like to sincerely thank you for your time this morning and your continued support of Papa John’s. And I’d also like to thank our team members and franchisees. As we mentioned, it’s been a challenging 12 months with some of the macro challenges that we’ve all faced, and they’ve shown unbelievable resiliency and agility during these unique times. So, I’m incredibly proud of both our company, employees, and restaurants and our franchisees for how they’ve worked together to persevere through these challenges. And as highlighted on the call today, we have a lot of confidence both in the back half of this year and moving forward. So, thank you very much for your time and all the best.
Operator: This concludes today’s conference call. Thank you for participating. You may now disconnect.
