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North America operating margin expansion, another strong year and now at 30% margins for the first time in this operating unit
I wanted to ask you guys a little bit about local competition in various markets
I was struck by the use of the phrase word pivot
I want to talk a little bit more perhaps about the actions you're taking in the U.S. you called out, consumer softness
perspective about the consumer environment globally, particularly in developed markets where U.S. sentiment has been so mixed
advertising was down like it was double digits, like $500 million in 2025
talk a little bit about margin structure or how to think about the cost implications of taking the portfolio and your big core brands
I'm curious on what kind of uptake you're seeing on that front
how the business can deal with some of the new legislation around, ingredients and colors
volumes decelerated sequentially. So, just curious if you can talk a little bit more about spending and reinvestment in the fourth quarter
what gives you confidence in the near-term acceleration that you mentioned a couple of times
I'm asking for you to walk through the 26 that are troubled. Maybe just where might you call out
what do you think maybe needs to change, and maybe we can focus just on North America, to widen that gap back out
would love to get your latest readout since your behavior in these regions and, you know, kind of what are you planning
I was hoping you could also comment on what you're seeing in terms of consumer behavior and dynamics