morning everyone and thank you for joining us with me on the call today our chairman and chief executive officer Chris Kaczynski, Chief Financial Officer Ian Borden and president of McDonald's USA Joe Earle injure. As a reminder, the forward looking statements in our earnings release and AK filing also applied our comments on the call today. Both of those documents are available on our website, as our reconciliations of any non GAAP financial measures mentioned on today's call, along with their corresponding GAAP measures. Following prepared remarks this morning, we will take your questions, please limit yourself to one question and reenter the queue for any additional questions. Today's conference call is being webcast and is also being recorded for replay via our website. And now I'll turn it over to Chris. Thanks, Mike. And good morning, everyone. Beginning last year, we warned of a more discriminating consumer, particularly among lower income households. And as this year progressed, those pressures have deepened and broadened the QSR sector has meaningfully slowed in the majority of our markets. And industry traffic has declined in major markets like the US, Australia, Canada and Germany, and several markets, we also continue to be negatively impacted by the war in the Middle East. These external pressures certainly weighed on our performance for the quarter, with declines in comparable sales globally and across each of our segments. But there were also factors within our control that contributed to our underperformance, most notably our value execution. For 70 years McDonald's has defined value in our industry, and we are taking meaningful actions across the world to assert our leadership. The hallmark of a great company is its ability to perform in good times and bad and we are resolved to reignite share growth in all our major markets, regardless of the prevailing market conditions. This won't happen overnight, but it will happen. The unique competitive advantages of McDonald's afforded us many levers to pull and we have the financial wherewithal to sustain our investments as needed. One area of strength is our restaurant teams who continue to execute with excellence to serve our customers and local communities. Creating a better customer experience has delivered operational improvements, improved service times, and increased customer satisfaction across most of our major market. And it's this relentless focus on execution that will give customers more reasons to visit our restaurant more frequently. Meaning into the power of our core menu also leads to outstanding execution our kitchens. Our deployment of best burger is a great example of this, now deployed in over 80% of markets. The training and focus on the basics ensures we deliver the gold standard product our customers expect, which is driving elevated tastes and quality perceptions. We remain on track to have best Berger deployed in nearly all markets by the end of 2026. And as we announced late last year, we continue to innovate across our core menu to address unmet customer needs with a more satiating burger that will provide great value for money. This new burger, which we're piloting across three international markets this year, includes two beef patties perfectly layered with melting cheese, crispy toppings, and a tangy McDonald sauce. It's a quintessential McDonald's burger with a twist on our iconic familiar flavors, named the big arch. We plan to test and learn through the end of the year to gather learnings before scaling more broadly internationally. We continue to have a significant opportunity for growth in chicken, a category that's twice the size of beef globally and growing at a faster rate by featuring our beloved icons like McNuggets and MC chicken while driving growth and emerging favorites like crispy and MC spicy. Our chicken sales are now on par with beef sales. The MC crispy chicken sandwich is now offered in more than 55 of our markets around In the globe, and through our plans to further expand our MC crispy equity, we will continue to capture chicken market share. As we continue to build on our $17 billion brands across our core menu, our digital penetration also continues to grow. Loyalty membership has now reached 166 million members pacing ahead of expectations. As we work towards our ambition of 250 million members and identified users now represent 25% of system wide sales. We know that engaged loyalty customers spend more and visit more often. And as a result, we're driving digital market share gains, and continuing to build on our understanding of customer preference, personalization, and behaviors. But as I said in my opening, we recognize that in several large markets, including the US, we have an opportunity to improve our value execution. Consumers still recognize us as the value leader versus our key competitors. But it's clear that our value leadership gap has recently shrunk. We are working to fix that with pace. re the last several years our system has sustained significant.