Operator: Oh, sorry.
James Quincey: Operator, if you let me just finish the other question.
Operator: Certainly.
James Quincey: I was going to back up. Apologies to everyone for the technical trickiness. I’m just going to back up. And if I’m repeating something I said apologies and if there’s a gap in the logic, apologies again. I think we talked about volume second half similar to first half, whether you’re talking prior year or 2019 pricing three buckets. The big — the bigger piece of the pricing of the three factors, which is the carryover obviously stepping down through the year towards zero by the end of the fourth quarter. The new pricing that’s come in ’23 being very consistent with the kind of our normal level of pricing that we would see. And it’s kind of in place already for the year and that obviously then continues at the same rate through the rest of the second half.
And the third piece, which is about a quarter of what’s happening on PMO at the moment, this bucket of higher inflationary countries. And as I said earlier, there was a little more inflation from those countries in the second quarter than we had previously expected. Obviously that then comes back around in a little more ForEx headwind. We are assuming that some of those inflation rates will moderate in the balance of the year in the second half. And likewise moderate in the ForEx, although it’s very uncertain. So we’ll have to see what happens. But that’s basically the composition of how to think about the effect of our strategy delivering goods, good top line growth in the second half. Next question, operator.
Operator: Our next question comes from Lauren Lieberman from Barclays. Please go ahead. Your line is open.
Lauren Lieberman: Can you hear me okay? Because like my line’s got crackly now. That’s okay.
James Quincey: Yeah, we got you, Lauren.
Lauren Lieberman: Cool. Good morning. Okay. I wanted to ask a little bit actually about Costa and coffee overall in light of the resource allocation model and identification of key profit pools and so on, not mentioned in the prepared remarks, but definitely called out in the press release this morning with particular strength in the UK. So I guess broad question would be how coffee overall is kind of fitting in on this thought process and resource allocation models if they are getting their particular differences by geography because we’ve heard different emphasis on the category by different bottlers. And then specific to the numbers called out in the release and Costa UK, should we think about that as recovery with mobility, COVID or tweaks or adjustments to the strategy you’ve made that are beginning to come through in performance? Thanks.
James Quincey: Yes. Sure, Lauren. Let me do it in reverse order. The Q2, I think, is more recovery than new stages of growth. Having said that, the Express machines have continued to expand numerically in terms of numbers of placements all the way through COVID and including so far this year. So the Express business, the B2B business, the UK is — has been strong, remains strong and still growing, so gaining share. The retail — the store numbers are much more about a recovery kind of completing the play on mobility perhaps and gain share a little bit. And obviously, we’re focused on how to drive growth going forward, and we see plenty of headroom in the UK market. But I would characterize year-to-date more on — more of a biased recovery on stores than new and the bias on Express on new.
