To understand the drop in profitability, we will break down the business into two buckets:

I. Revenue Drivers

• Changes in same-store sales vs. store count
• Changes in pricing, customer volume, or product mix
• Regional differences in performance

II. Cost Drivers

• Breakdown of fixed vs. variable costs
• COGS fluctuations: ingredient pricing, waste, vendor issues
• Labor, rent, and operating expenses
• Impact of expansion (e.g., inefficiencies from new stores)

This structure helps isolate the root cause by examining both income and expense levers.