Grocery Outlet Holding Corp.

assistance during the conference, please press star zero on your telephone keypad. As a reminder, this conference is being recorded. It is now my pleasure to introduce you to your host, Christine Chen, Director of Investor Relations. Thank you, Christine. You may begin.

Good afternoon and welcome to Grocery Outlet's call to discuss financial results for the fourth quarter and fiscal year ended December 28, 2024. Speaking from management on today's call will be Eric Lindberg, Chairman of the Board of Jason Potter, President and Chief Executive Officer, Chris Miller, Chief Financial Officer, and Doreen Birch, SVP of Strategy and Finance. Following preparative remarks from Eric, Jason, and Chris, we will open the call for questions. Please note that this conference call is being webcast live and the recording will be available via telephone playback on the Investor Relations section of the company's website. Participants on this call may make forward-looking statements within the meaning of the Federal Securities Law. All statements that address future operating financial or business performance or the company's strategies or expectations are forward-looking statements. These forward-looking statements are subject to various risks and uncertainties that could cause actual results to differ materially from these statements. Description of these factors can be found in this afternoon's press release as well as in the company's periodic reports filed with the SEC, all of which may be found on the investor relations section of the company's website or on sec.gov. The company undertakes no obligation to revise or update any forward-looking statements or information. These statements are estimates only and not a guarantee of future performance. During today's call, the company will also reference certain non-GAAP financial information, including adjusted items. Reconciliation of GAAP to non-GAAP measures, as well as the description, limitations, and rationale for using each measure, may be found in the supplemental financial tables included in this afternoon's press release and the company's SEC filing. And now I'd like to hand it over to Eric.

Good afternoon, everyone, and thank you for joining us. We had a solid fourth quarter and are pleased with the progress we're making on our biggest areas of focus. We delivered on key value metrics and were able to generate comps that were above expectations, driven by customer count, demonstrating that our model continues to resonate. As you know, Grocery Outlet is known for delivering unbeatable value, a unique treasure hunt experience, and amazing customer service. On the surface, this is a simple business that performs very well when operations are executed properly. Due primarily to our system's conversion, 2024 was a year in which many critical operational elements were out of sync, which was further exacerbated by trying to do too much too fast. But we're working urgently to get back on track. As interim CEO, my intention was to slow things down, focus on executing the basics really, really well, and to reevaluate some of our strategic initiatives that were impacting our execution. We have made great progress on many fronts, but there's still more work to be done. As we discussed in our last earnings call, my immediate focus was around a few key areas, namely appointing key leaders to take us forward, improving our value proposition, progressing on systems transition work, and reviewing our strategic initiatives and priorities. Let me provide you with a brief update on each one of these. We have put in place a talented and experienced team to drive the mission and vision of the company forward. I'm really excited to welcome Jason Potter as our new CEO. Jason brings over 30 years of experience growing and scaling successful grocery concepts, including franchise-driven models. Spent a lot of time with Jason recently, and his vision, values, and hands-on leadership style align well with our goals and our culture. Since he just started at the beginning of February, he won't have a big role on the call today, but I wanted to take this opportunity to have him introduce himself and say a few words. Jason?