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shipments, as we've discussed, we're well ahead of depletions in Q1. As a result, this was certainly a benefit to organic sales in the quarter, but could you quantify for us the EBIT impact of that...
I was hoping for a little bit more color on your marketing and advertising spend in the quarter, which was scaled back a little bit
I was actually hoping for a little bit more color on the divergence in trends between U.S. consumer takeaways and your reported whiskey depletions
I was hoping you could touch on the durability of your new unit growth, I guess, over the long term.
your guidance does still imply a sequential deceleration in EBITDA growth in the second half. So just hoping to hear some of the drivers of that.
Can you just remind us your M&A strategy, where you're at and sort of what the market is like right now?
could you maybe quantify your spend levels this quarter versus the prior quarter and then maybe year-over-year?
love to hear how the quarter came in maybe relative to your internal expectations? And then I guess if it was a little bit stronger, does it suggest maybe some conservatism to your guidance this year?
I guess I'm hoping to hear a little bit more color on your inside sales for the full year of FY '25, which I guess, fell a little short of your lowered full year guidance.
just hoping you could touch on how your business model and value proposition might position you hopefully well in the case of a recessionary environment
Same-store inside sales guidance of 3% to 5% for the year, which you maintained, I guess at the midpoint this does imply a bit of an acceleration
are you seeing any change behavior, consumer behavior, are you seeing any strengthening with the consumer in the context of all of this?
wondering how big of a tailwind you're expecting from the World Cup? And any early sell-in ahead of the events
it does still imply an acceleration of growth on the top-line in the back half, but essentially stable growth on the bottom line
could you touch on sort of your volume growth expectations for the rest of the year in terms of phasing? Should we assume volumes will inflect positively in Q2
They've really been elevated in a lot of the HPC categories, and we're seeing a fair amount of negativity on price mix
your volume growth was quite strong in the quarter, but price/mix was slightly negative. So I guess just could you kind of drill down on what sort of drove that?
Could you give us a sense of maybe how the brand has been performing in the different channels, DTC and then certainly at Sephora
We've seen increased couponing activity across broader HPC and then scanner data is suggesting that sales on promotions have been rising
Could you just maybe touch on the puts and takes, including tariffs on the expected declines on gross margins, especially in Q3?
hoping for a little more color on the differences of growth that you’re seeing in Global Markets group versus the subsidiaries
You maintained your top and bottom line guidance, but you highlighted gross margins will be more pressured
curious if the decision to spend more on A&P this year is because you want to improve your market share in certain categories
guidance assumes a step-up in Q4 at the midpoint
what gives you the confidence in your low single-digit EPS growth expectation this year
You updated the guide to flat spending as a percent of sales for the year versus flat to slightly previously
how should we think about the contribution from price versus volume mix in North America
Organic sales, you know, remain quite pressured, you know, just up promotions behind trash and litter as you, you know, you highlighted. But you know, if I look at it that way, then I see the press...
just hoping for a little bit more color on the puts and takes of that. You highlighted your current expectations are to be at the lower end of the range.
Was there a greater build in certain businesses or segments versus others?
how does the current demand backdrop impact your shipments and then the inventory build out? I guess I'm trying to understand why you're now expecting a greater lift on organic sales from the trans...
could you talk about your sourcing exposure from some of the impacted regions? I guess, which part of your business do you see the most potential impact?
Is it to avoid any potential risk that they can't get the product that they need? Is there some concern on your side just given the transition that you want to ship ahead of consumption
I'd love to hear if you believe you're getting the appropriate lift on your promotional spend, and if not, do you have plans to modify your strategy
how critical it is for organic sales growth acceleration to ultimately drive op margin improvement versus your PRGP savings
you expect growth to be flat in the year
Could you provide just, I guess, a little more color on inventory levels and movements in the quarter?
do you see end market trends improving relative to the second half of this fiscal year? Or is it reasonable to assume similar trends persists
could you give us a sense of maybe where retail inventory levels are currently maybe versus a year ago? And how much further destocking you expect
how should we think about the levers and maybe confidence you have to continue to hit your mid-single-digit long-term growth Algo without another acquisition
do you need end market growth to improve to hit your mid-single to high-single digit EBIT growth guidance?
how should we think about the organic sales growth and margin EPS accretion to your long-term algo?
I'm trying to bridge the gap between your new EPS guidance versus prior. So hoping you could maybe walk through the different puts and takes
I was hoping to get some color on phasing this year. There are several moving parts, including the impact from potential retailer destocking
Your top line growth was good, but your op margins contracted almost 10 points I know, John, you touched on this a bit
I actually just had a quick question on your business in Asia
hoping you could just provide a little bit more color on sort of what drove that upside
how your away from home business trended in the quarter
how are you thinking about potential impacts on consumption from GLP-1 drugs. Have you seen any impact
wondering if you've seen that pick up in Q3 so far? And if so, how much of a benefit do you see in Q3 as a result of this shift
I wanted to drill down a little bit on some of the innovation plans that you have for the year and spending, just given the environment and the macro
I actually had a question on your self-care segment margins, which contracted a lot in Q4 and for the full year
just hoping for a little more color on what's driving the strong demand
Would you consider further pricing actions to offset the cost pressures?
I think they came in better than you expected since I believe you suggested to us last quarter that they would decline sequentially
Question on that just in terms of your supply chain optimization efforts because Hilton, I know you've been working on that
I'd be curious to hear, how much lower were your reported sales during the quarter versus maybe your internal expectations?
Could you give us a little more color on the drivers behind the expansion? I guess I'm curious how much did the price increase on November 1 help
is it fair to assume your aggressive promotional strategy behind Basic, which is weighing on your net price realization
your retail share on the brand did drop below 40% for the first time, I think ever. So how are you thinking about your strategy behind Marlboro
just hoping for a little more color on the operational efficiencies you see, especially as it relates to opportunities
could you touch on what you're seeing and whether I guess you've been happy with the performance and positioning of on!
how are you feeling about your ability to deliver on your long-term EPS growth algo of mid-single digits through FY '28
Could you talk a little bit more about your strategy with the brand and the changes you've made to your promotions on the brand
how concerned you are and are further share gains factored into the low end of your guidance
I'm curious to hear why you're no longer providing this in your metric sheet
you could provide a little more color on the possible options you have for NJOY
your guidance includes the likely potential you're going to have to pull NJOY ACE from the market
you still expect to deliver both organic revenue growth and core operating margin expansion this year for the business
what's continuing to pressure volumes and maybe your strategy to drive better volume growth this year
how you'll ultimately balance growth and profitability for that business
can you give us a sense of how much this is being impacted by your pivot to smaller pack sizes
could you quantify the productivity savings you're hoping to generate this year? And how much above the typical $1 billion run rate it will be
how some of those investments are paying off? And then, if you're making any changes to your strategy, especially given the pressured consumer environment
Your EPS guidance assumes some leverage, but not nearly as much as you've reported in prior years
I have a quick question on Baby Care, which appears to be turning following declines over the past year
could you provide a little more color I guess, on what drove the weakness on volumes
your ranges are quite a bit wider than they've been historically. Now I certainly recognize there's a fair amount
based on your update, it still implies an acceleration in Q4 versus Q3. And then just, you know, thinking about that
curious how much flexibility you have to deliver on your EPS guidance range? And then in the context of that
You did mention you expect performance to improve over the course of the year. So maybe I'd like to better understand what gives you the confidence
Your Q1 results came in better than your expectations. And a key driver of this really was the strength behind IQOS
hoping you could talk a little bit more about the elasticities you're expecting, you know, with volumes I assume being pretty negatively impacted?
Could you maybe frame for us or touch on the key growth drivers that really will allow you to deliver on your top and bottom-line guidance and possibly beat it
Did it actually bring in new consumers to the brand? And if so, I mean, can you give us a sense of what percentage of the free can promo resulted in new consumers to the brand?
The stepped-up investments in The U.S, is this all Zen related or are you also accelerating spend behind IQOS or the full planned, you know, rollout of Illumina?
I also want to understand the drivers behind your full year dollar EPS growth guidance raise despite the lower operating income growth guidance What are the drivers below the line?
How does that change your strategy, you know, as it relates for Zen, as it relates to, you know, your pricing, promotions
should we assume lower end of your full year shipment guidance range is more realistic?
Could you maybe give us some more color on the out-of-stock issues you might still be experiencing in the U.S.?
how should we think about the drivers of continued margin expansion for the remaining of the year?
hoping you could highlight the, you know, some of the key drivers behind this
you continue to target gross margin expansion in combustibles, And then you did say that you expect the gap to grow
Your guiding margins of 37% to 38% for this year, which is a step down from your prior guidance of 39% to 40%
They came in a lot stronger than expected in the quarter despite the volume deleverage
I'd love to hear more color on the beer op margin expansion in the quarter, I guess, as well as key headwinds to margins in the back half
Could you give us some color on what is happening with the rebuild? And what type of growth or upside you might be expecting from this
what are you assuming for the beer category growth or I guess declines over the next few years
while you lowered your full year beer net sales growth guidance, which makes sense, you actually widened the range and there are only 2 months left in the year
curious to hear if the lift from that has met your expectations. And then also, any color on potential shelf space gains
why you believe it's cyclical versus structural?
how are you thinking about pricing for the remainder of the year? Also, what about the promotional environment?
I assume your retained share that you've talked about in the past is now below the 80%. So if you could update us on that
could you give us a little more color on the drivers of EPS growth, such as the cost savings and efficiencies you expect to get this year