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Quarterly Financials Review slide image

Quarterly Financials Review

30% 20% 10% COMPANY-OPERATED SHOP MARGIN PROGRESSION Company-operated Shop Gross Profit (%) 18% ―% (10)% (20)% (30)% (30)% (40)% 1st Q 2nd Q 2020 2023 average 26% 23% Quarters after Opening 3rd Q 4th Q 7
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