What changed in this filing

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Item 4. Controls and Procedures

2025-01-29 compared with 2024-10-30 · 14 added, 10 removed, 40 unchanged (38% of the section changed)

3 unchanged sentences

INTERNAL CONTROL OVER FINANCIAL REPORTING

There were no changes in our internal control over financial reporting during the thirteen week period ended September 25, 2024 that have materially affected, or are reasonably likely to materially affect, our internal control over financial reporting.

During the thirteen week period ended December 25, 2024, we implemented a new ERP system, which replaced a legacy system where a significant portion of our transactions were originated, processed and, or recorded.

We updated our internal control over financial reporting, as necessary, to accommodate related changes in our financial management processes.

While we believe that this new system will enhance our internal control over financial reporting, there are inherent risks in implementing a new ERP system.

Accordingly, we will continue to evaluate the design and operating effectiveness of these controls.

Except for this system implementation, there have been no other changes in our internal control over financial reporting (as defined in Rule 13a-15(f) of the Exchange Act) that occurred during the thirteen week period ended December 25, 2024, that have materially affected, or are reasonably likely to materially affect, our internal control over financial reporting.

FORWARD-LOOKING STATEMENTS

7 unchanged sentences

Such risks and uncertainties include, among other things, the impact of general economic conditions, including inflation, on economic activity and on our operations;

disruptions on our business including consumer demand, costs, product mix, our strategic initiatives, our partners’ supply chains, operations, technology and assets, and our financial performance;

the impact of competition;

changes in consumer preferences;

disruptions on our business including consumer demand, costs, product mix, our strategic initiatives, operations, technology and assets, and our financial performance;

the impact of competition, including competitors employing our same strategies or discounting their offerings;

changes in consumer preferences, including shifts in their brand preferences;

consumer perception of food safety;

reduced consumer discretionary spending;

unfavorable publicity;

governmental regulations;

the Company's ability to meet its business strategy plan;

the effectiveness of the Company's business strategy plan;

loss of key management personnel;

1 unchanged sentence

increasing regulation surrounding wage inflation and competitive labor markets;

the impact of social media or other unfavorable publicity;

the impact of social media, including the potential governmental ban of platforms used by the Company in its marketing initiatives;

reputational damage or unfavorable publicity for our brands, which may result from actions of franchisees not within our control;

reliance on technology and third party delivery providers;

5 unchanged sentences

technology failures;

failure to protect our

intellectual property;

failure to protect our intellectual property;

impairment of goodwill or assets;

9 unchanged sentences

health epidemics or pandemics;

inadequate insurance coverage and limitations imposed by our credit agreements.

inadequate insurance coverage;

and limitations imposed by our credit agreements.

OTHER INFORMATION

2 unchanged sentences

Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.

What changed 10-Q

Item 4. Controls and Procedures