Tacala?s same-store sales for the quarter ending March 21, 2023, grew 7.3% year-over-year despite a challenging macroenvironment and 1% lower transaction volume. Total first-quarter revenues grew 10.5% year-over-year as the company continued to pass on most of its higher costs, with new store development contributing $4.8 million of sales. We expect Tacala will benefit from some trade down in value sensitive markets but take fewer price increases that are in the mid-to-high single-digit level versus a 12% increase last year. We forecast Tacala?s top-line to grow in the mid-to-high single-digit area in 2023, mostly due to price. We believe Tacala?s EBITDA margins will expand as key commodity costs decrease and labor shortages ease. The company reported lower labor turnover and
