Joshua Kobza: Yes. Thanks, Greg. I appreciate the question. And I think my perspective on this. I think at the end of the day, development always comes back to ROI. We need to have a good — a really strong set of unit economics across our concepts, and that’s what will cause franchisees to want to invest. So that’s what we’re really focused on. And I think our — some of the discussion of franchisee profitability today really highlights how much of that’s going to be a focus for us. Of course, kind of through the cycle, you’re going to see movements in interest rates and that will impact the cost of financing that people need to pay back. So that’s certainly an influence in some of our discussions. But I would say, overall, we feel pretty good about where we’re going.
We’ve got a lot of amazing partners around the world, and we have very strong unit economics in a lot of those markets. And that’s why I mentioned a little bit earlier in my prepared remarks that we’re excited about the year ahead and feel like we’re on a good path to try and improve the pace of growth around the world.
Operator: Our next question comes from Mark Petrie from CICB.
Mark Petrie: So I just wanted to follow up actually on — specifically on the Tim’s supply chain operations. And are there any other pieces of noise that you will be cycling through with regards to sort of higher-priced commodities in the upcoming quarters? And then my question on pricing was already asked, but perhaps when you look back on 2022, anything you can provide with regards to how you might have compared to the industry or to CPI?
Matthew Dunnigan: Yes. Thanks, Mark, for the question. I’ll jump in on the first part there related to supply chain. Yes, look, I think as we talked about, there’s — given all the volatility and elevated commodity prices, that has created — certainly created volatility in our quarterly results in terms of the percentage margin, and we’ve talked about that a bit over the past few quarters. And also, as I mentioned, we did see a continued elevated commodity costs continue into this year. And we have, as we mentioned, higher cost inventory that we were working through in the fourth quarter and a bit into this year. So there is a bit of noise there. But overall, we think the most fundamental kind of goal for us is to continue to drive the strong and healthy sales growth across the Tim’s Canada system.
And as we do that over time, I think our business will be healthier, both on the franchising side and the supply chain side. And yes, so I think that’s what we’re focused on. And if we’re thinking about volatility, again, I think it’s helpful to look at the margin on a full year basis to sort of normalize for some of that quarter-to-quarter volatility that we called out.
Joshua Kobza: Yes. And Mark, I’ll take the one on pricing. As I said, like a couple of questions ago, we certainly keep an eye on both of those things. We do look at competitive pricing and we’re keeping on CPI. And for 2022, we were in that ballpark, maybe not exactly on each one of those, but we weren’t super far off, we were kind of in the same range as those 2 metrics.
Operator: Our final question today comes from Lauren Silberman from Crédit Suisse.
Lauren Silberman: I wanted to just follow up on the accelerating growth. As we frame the priorities, is the near-term focus more about accelerating comps and franchisee profitability and then that will ultimately unlock accelerated growth over the medium to long term? Or can this be done in tandem? So you have franchisee profitability more in the home market and also accelerating international unit growth in tandem?
