Good morning or afternoon, everyone, and welcome to PriceSmart, Inc.'s earnings release conference call for the Q4 of fiscal year 2022, which ended on August 31, 2022. After remarks from our company's representatives, Sherry Bahrambeygui, Chief Executive Officer, and Michael McCleary, Chief Financial Officer, you will be given an opportunity to ask questions as time permits. As a reminder, this conference call is limited to one hour and is being recorded today, Tuesday, November 1, 2022. A digital replay will be available following the conclusion of today's conference call through November 8, 2022 by dialing 1-877-344-7529 for domestic callers or 1-412-317-0088 for international callers, and by entering the replay access code 1071897. For opening remarks, I would like to turn the conference call over to PriceSmart's Chief Financial Officer, Michael McCleary. Please go ahead. Thank you, operator, and welcome to the PriceSmart earnings call for the Q4 of fiscal year 2022 that ended on August 31, 2022. We will be discussing the information that we provided in our earnings press release and our 10-K, which were both released yesterday afternoon, October 31, 2022. You can find these documents on our investor relations website at investors.pricesmart.com, where you can also sign up for email alerts. As a reminder, all statements made on this conference call, other than statements of historical fact, are forward-looking statements concerning the company's anticipated plans, revenues, and related matters. Forward-looking statements include, but are not limited to, statements containing the words expect, believe, plan, will, may, should, estimate, and similar expressions. All forward-looking statements are based on current expectations and assumptions as of today, November 1, 2022. These statements are subject to risks and uncertainties that could cause actual results to differ materially, including the risks detailed in the company's most recent annual report on Form 10-K and other filings with the SEC, which are accessible on the SEC's website at www.sec.gov. These risks may be updated from time to time. The company undertakes no obligation to update forward-looking statements made during this call. Now I will turn the call over to Sherry Bahrambeygui, PriceSmart's Chief Executive Officer. Thank you, Michael. Good day, everyone, and welcome to our Q4 fiscal 2022 earnings call. We had another milestone quarter in Q4. Total revenues exceeded $1 billion for the quarter, and for fiscal year 2022, we exceeded $4 billion in total revenue. Net merchandise sales came in at $990 million, just shy of a billion, which represents year-over-year growth of 13.6% after a negative 2.9% currency impact. Profitable net merchandise sales increased by 9.2%, and that's after taking into account a negative 2.7% FX impact. Operating income increased 20% over the same quarter last year. Membership accounts grew to an all-time high of 1.76 million, and our renewal rates were 88.9%, holding strong. If you recall from our last earnings call, like many other retailers, we were in the thick of dealing with the fallout from the global supply chain disruption. Our team has done a great job of being proactive and executing on the plan to mitigate the impact. We addressed the situation head-on, and we selectively adjusted prices in areas where we were having an overstock issue so that we could promptly sell through the overstock categories and swiftly begin to rebalance our inventory mix and begin restoring our intended margins. Referring back to the Q3, we experienced a decrease in our total gross margin as a percentage of net merchandise sales due to higher than normal markdowns in several of our non-food categories, including furniture and seasonal items. During our last earnings call, we told you that our intention was to take decisive action to swiftly sell through and hopefully be well-positioned for the holiday season by the end of Q4. We gave you our expectation about the magnitude of the impact on our margin for Q3, for Q4, and that it would be about 25-50 basis points. Now, with the Q4 in our rearview mirror, we can see that our plan worked well. Total gross margin for the Q4 of fiscal year 2022 as a percentage of net merchandise sales was 15.5% or 40 basis points decrease from the Q4 for fiscal year 2021. However, in terms of total dollars, the gross margin, total gross margin increased by $15.3 million or approximately 11% versus the same quarter of the prior fiscal year. Now, although we've got the, this situation hopefully behind us for the most part, we do expect our inventory levels to continue to run a bit higher than historical levels in the short term because we still are facing long transit times on some of the transoceanic, merchandise. However, we are striving to reduce our days on hand of inventory over the next several quarters. Although Q4 was below the margin rate levels we've seen in recent years, we do expect to return to our intended margin rates in fiscal 2023. With that said, we're excited about several merchandise programs we've been running for the holidays, as the actions we've taken have allowed us to get our seasonal programs back onto a more normal schedule in this Q1 of fiscal 2023. The Christmas tree program has landed in the clubs, and we believe that early sales are indicative of how excited the members are to find these new seasonal items. Also, the toys planned for the season have mostly landed on time, and early sales figures are looking good. Lastly, we have two promotional periods in Q1 of fiscal year 2023, so we're looking forward to those results. Fortunately, supply chain disruptions were relatively tempered during the quarter, with our overall supply chain logistics network remaining relatively stable. The flow of merchandise was quite reliable in terms of replenishing our clubs, and this is good considering the fact that shutdowns continued in Shanghai, China, but only had a nominal impact on our sourcing from the region. Also, on a positive note, we're seeing relief on shipping costs. The reduction in shipments due to factory closures, combined with slowing demand from U.S. importers, is favorably impacting freight rates, reducing Trans-Pacific spot rates to approximately $15,000 per container. We're seeing a significant decrease in ocean freight costs. The latest spot rates for October, the rates were as low as $6,000 per container. However, on the other hand, transit days for inbound containers loaded with our merchandise from Asia were 61 days on average for the Q4, versus 39 days in the Q4 of last year. We're also up about a week versus Q3 2022. As I mentioned before, transit times, especially for merchandise coming from Asia, is impacting our days on hand of inventory. Despite this increase in transit times, the team has planned for these delays, and we've maintained very good in-stock levels during the quarter. Inflation is an important macroeconomic factor that continues to have a significant impact on the cost of our merchandise. Although we do our best to mitigate cost increases as best we can, inflation has resulted in increases in our merchandise selling prices. For the Q4 of fiscal 2022, the average sales price per item has increased by approximately 9% compared to the same period of the prior year. For the same comparative period, we've seen the items per basket also decrease. However, transactions on a comp basis have grown by 3.6% this quarter versus a year ago. While on the topic of inflation and macroeconomic circumstances, I'd like to take a moment to talk about Colombia. Over the past year, Colombia has experienced inflation of about. Let me clarify. Over the past fiscal year, Colombia has experienced inflation of approximately 11%. The Colombian peso in fiscal year 2022 devalued against the U.S. dollar by 16%. And just since August 31 of 2021, the peso has devalued an additional 12%. We've discussed the pressures we face in Colombia over several prior earnings calls, and these challenges still exist. While there are numerous macroeconomic factors at play, at PriceSmart, we're doing what we can that is within our control. These pressures, of course, impact both revenue and margins. We have been, and will continue to take targeted measures to mitigate the FX impact and to maintain the right value equation for our members, which in certain limited cases may mean holding the line on pricing while aggressively managing and improving efficiencies. Let me give you just some examples of levers that we have. This is not an exhaustive list, but just an example of the types of strategies and business practices that we take into consideration when addressing the FX situation in Colombia. There's a concerted effort to increase local sourcing. That also has the dual benefit of oftentimes providing a secondary source that helps mitigate against supply chain disruptions. We carefully evaluate and adjust appropriately our mix between local and imported products. Another lever is shifting more overhead expense into the Colombian market. As we grow, making a concerted effort to incur expenses in local currency and in positions that could help support not just Colombia, but other markets as well. We can also take a SKU by SKU approach to our pricing by doing a thorough pricing analysis to strategically adjust pricing on certain items so that we can protect our members' loyalty and shopping patterns. In Colombia, the overall margin percentage may be impacted depending on our approach, but the strategy and goal would be to protect and build margin dollars overall. Separate from margin, we believe that this will translate into attraction of new members and member retention, protecting membership income. In essence, we wanna have PriceSmart be a comparatively safe haven for the members' needs during a challenging and difficult environment for us and the members. We learned something important through our experience with the COVID pandemic, the value of member loyalty. We can't underestimate that. We believe that the measures we took to protect members is part of what has yielded us a significant increase in sales, membership growth, and renewal rates. We believe this, in addition to the other levers I mentioned, is the best way to navigate through the current currency and economic environment in Colombia. We are strong believers in Colombia, and we think it's a company rich with talent and member profiles that are exactly in line with our value proposition. The reality is that we have to navigate through this, and we're going to be very targeted and very specific about what we do to make sure that we protect our business and we continue to grow there. Speaking of membership, our total membership base grew to a new record of 1.76 million accounts, representing growth of 5.5% versus last year. Our twelve-month membership renewal rate was 88.9%, and our membership income was a record $15.6 million, an increase of 6.7% over the same period last year. This is very encouraging to see during a time that everyone is looking for ways to save. We believe we have an important role to play and an opportunity to further reinforce and validate and prove our value of our club concept to the members during times of economic pressure. As we look to the future, our company remains focused on our three major drivers of growth, expanding our real estate footprint and new clubs and new distribution facilities, increasing membership value, and driving incremental sales via pricesmart.com and enhanced online digital analytics and technological capabilities. To give you a quick update, starting with real estate, as we previously discussed, we currently have two warehouse clubs under construction. One will be a smaller but very efficient format warehouse club that we plan to open in the spring of 2023 in the city of San Miguel, approximately 100 miles east of the capital city San Salvador in El Salvador. This will be our third club in El Salvador. In addition, construction is proceeding on a smaller format warehouse club in the affluent El Poblado area of Medellín, Colombia, which is expected to open in the summer of 2023. It will be our second club in Medellín and the company's tenth warehouse club in Colombia. Once these two new clubs are open, we'll be operating 52 warehouse clubs. In addition, we continue to maintain a good number of potential clubs at various stages in our pipeline. We also believe there are opportunities to expand the capacity of our existing clubs through various strategies. As we fine-tune these smaller club formats, we're finding operating efficiencies that we believe will allow us to increase our square footage productivity. Another part of our real estate strategy focuses on the important role of our distribution facilities to optimize efficiencies and reduce risk. We currently operate nine distribution centers in seven of our 13 markets. We continue to explore ways to utilize our distribution centers more effectively, such as by changing the frequency and flow of merchandise to maximize selling space in our clubs. We also believe that in the future, we'll be able to use these distribution centers to fulfill some of our online orders, so they will not need to be sourced out of our clubs. We continue to analyze new locations for and modify use of local distribution centers in several areas that serve our Central American, Caribbean, and Colombian markets. We're also reviewing a potential site or potential sites in the Northern Triangle countries for a regional distribution center. In addition to more efficiently servicing clubs in this region, this would give us near-term options to create alternative routes for imports from Asia, in addition to job creation in these important markets. Now I'd like to turn to enhancing membership value. The momentum is really building with our private label. To remind you, that's our Member's Selection program where we put under our own brand quality merchandise that is as good or better than the leading brand name and for a better value, better price. During fiscal year 2022, our private label sales represented 24.7% of our total merchandise sales. That's up 260 basis points from 22.1% in fiscal year 2021. We closed out the Q4 of fiscal year 2022 with growth of 27.7% compared to the prior year. For the trailing twelve months ended October 16, 2022, we surpassed $1 billion in annual private label sales. This was a goal and a challenge that had been given to our private label team and the buying team, and they really delivered. Additionally, we continue to see growth in our fresh assortments. For example, our U.S. fresh category for fiscal year 2022 saw private label sales grow 30% versus the comparable prior year period. We intend to further extend the private label category for fiscal year 2023 to include items such as butter, milk, chicken bites and fresh and frozen pasta. As we expand our private label offerings, we see several benefits and elements that are really beneficial to the climate that we're in. One is obviously the better value to the member. Another is we have some control over where we want to source the product from or develop it or even manufacture it, which can be helpful in circumstances like Colombia, which I referenced earlier. Our private label provides a unique offering that's only available at PriceSmart, so it does add to protecting the brand and as well as the value of the membership. In terms of enhancing member benefits, obviously the focus is on doing everything we can to maintain compelling prices and avoid any kind of costly supply chain disruption impact. We have also made a concerted effort to dual source very key items, and that helps us reduce risk. Dual sourcing in meat and seafood have contributed to strong growth. We have identified secondary sources for 27 of the top 30 U.S. fresh items, and we continue to focus on dual sourcing for key high volume programs. Dual sourcing remains an ongoing initiative to maintain in-stock levels as we seek to minimize challenges in freight delays and cost increases. In addition to our dual sourcing efforts, we are actively seeking and making progress with nearshoring items such as fish, frozen fruits and vegetables from within Latin America to service the region, which we are expecting to phase in during fiscal year 2023. Again, with our membership benefits, we offer wellness programs, which includes optical, audiology and pharmacy. Optical, we currently have 47 locations and intend to have 49 by the end of the calendar year. That's the program where there's 4 free eye exams with every membership. This also relates to social responsibility in our ESG. We performed over 127,000 eye exams. In this program, we performed 127,000 eye exams so far, and it's been a tremendously successful program. With regard to ESG, we are also doing some free exams for school children, and we're finding that it's an important social contributor to our local communities. In partnership with Price Philanthropies' Everyday Christmas Bears program, we provided approximately 8,000 screenings, 2,000 exams with 1,800 eyeglasses to local school children during the fiscal year, and we're very excited about having this service available to support our local communities. We currently have pharmacy centers in all eight of our warehouse clubs in Costa Rica. We expect to have pharmacy centers in all seven of our Panamanian clubs by the end of the fiscal year, and we continue to analyze the opportunity for additional countries. Audiology centers, at the end of fiscal 2022, we operated five, and we expect to open an additional 28 in fiscal year 2023. Now, our third driver of growth, driving incremental sales using pricesmart.com and enhancing efficiencies and opportunities for sales using digital capabilities and data analytics. For the Q4, total e-com sales represented 3.7% of total merchandise sales. Now mind you, we just started our e-com in fiscal year 2020 during the pandemic. Total online sales for fiscal year 2022 grew over the prior year by 24.2%. When we compare to the comparable prior year period, online sessions increased 5.4% with an average online order value increase of 12.5%, which led to an increase of online orders of 6.8%. We're seeing some really encouraging signs with regard to how our members react to their online experience with us and pricesmart.com in general. In addition, we continue to evolve our e-commerce experience and have seen a solid return on modest content enrichment investments. For example, our pilot test of 30 Member's Selection items, we saw a 38.8% dollar increase in sales and 42% unit increase for the month of September 2022 on these items sold online within one month of launching the enhanced content on our site. This just goes to show the impact of enhancing the information and engaging with our members in a more convenient way. These sales may occur online, they may occur in club, but the presence online is definitely helping in terms of engaging our members and appears to be generating increases in sales. Lastly, in late August, we increased pickup slots during key demand times in our Jamaica club by 6.3%, or 436 slots. This contributed to the highest online single month of sales ever in September for Jamaica, with orders increasing by 19.6% for the same period. Now, as of August 31, 2022, approximately 51.4% of our members have created an online program with pricesmart.com. That's more than half of our base, and that's up from zero two years ago. We believe that there are significant growth opportunities in our digital channels. 13% of our total membership base have made a purchase on pricesmart.com. The average online purchase, and I think this is important to see, the average online purchase on pricesmart.com in Q4 was 37.7% higher than the average ticket for in-club purchases, and it grew 12.5% versus Q4 last year. We'll continue to invest in this part of the business in an effort to provide an enhanced, e-tail experience to our members. At least the early indications are that members are accepting this type of service and shopping experience. Another of our online areas of focus is membership sign-ups and renewals. 8.5% of new memberships were purchased online during the last quarter, and online renewals represented 4.3% of our total renewals. It's also encouraging that 8.3% of our total membership base, at 1.76 million membership accounts, is enrolled in our auto-renewal option. This increase in online auto renewals effectively allows for a component of our income to become more reliable and more predictable, which is obviously something that is a great benefit in this climate. Our omni-channel members, those who shop both online and in club, had approximately three more transactions than in club-only members during the Q4 and orders for this category of member grew 90.2%, with the average spend for this group growing 17% compared to the prior year's fiscal Q4. These omni-channel members represented approximately 5% of total members making a purchase during the quarter. From that, we can see that there's a significant opportunity for this penetration to increase over time. If the behavior is anything like what we're seeing, it shows a good opportunity for growth in sales. Now turning to ESG. We recently issued our first environmental and social responsibility report in both English and Spanish, and I encourage you to read it. It's available on our investor relations website under the ESG section. I've already shared with you some examples of philanthropic and social responsibility efforts, and our ESG team is doing an amazing job of identifying really compatible beneficiaries and getting our company more engaged with philanthropy and social responsibility. It's been very exciting. The company's actions and practices also aim to responsibly use natural resources and focus on environmental impact in addition to social wellbeing. On the last call, we told you we opened a recycling center in our Tegucigalpa club in Honduras, and in October, we opened two additional collection centers. These are centers where members of the community can bring their own recycling and actually they get paid for the material. We are planning to open 30 more recycling collection centers in fiscal year 2023. In a prior call, I already covered with you our packaging plant in Trinidad, where we are manufacturing our own packaging and labeling materials that are more environmentally friendly. Our commitment to sustainability remains strong, and we're committed to fostering a safe and healthy environment for our employees, members, vendors, communities, and the world around us that we consider to be part of PriceSmart's family. As I conclude my prepared remarks, I just wanted to give you some insights into Q1 of fiscal 2023 based on months ended on September 30, 2022. While there's much uncertainty ahead due to the current economic climate, we're off to a strong start. Total net merchandise sales were $334.1 million, an increase of 12.1% over the same period in the prior year. Comparable merchandise sales for the fourth period ended October 2, 2022 increased 7.8% compared to the comparable period last year. However, once again, currency fluctuations continued to negatively impact our merchandise sales and comparable net merchandise sales by 2.0% and 2.1% respectively in the first month of the fiscal quarter. Before I turn the call over to Michael, I just wanna acknowledge our team. I especially wanna call out buying, operations, and finance, who have really done a fantastic job of correcting course to getting us back on track in terms of our merchandise inventory levels in this, while we continue with our plans for growth. Over the past few years, our team has been tested over and over by unprecedented circumstances. Each time, our team delivered and got even better. In just the last 2 fiscal years, we've grown total revenues for the club business by approximately $773 million under very challenging circumstances. I wanna acknowledge our approximately 10,000 employees across 13 markets who are the backbone of this business and deliver over and over again. They enhance the quality of life for our members and the markets that we operate in, no matter what the challenge. I wanna thank you. All right, I will turn the call over to Michael. Thank you, Sherry. Good morning or afternoon to everyone, and thanks for joining us today to talk about our Q4 results. Total revenues and net merchandise sales came in at $1.02 billion and $990 million for the quarter respectively, increases of 12.3% and 13.6% respectively over the comparable prior year period. We ended this quarter with 50 warehouse clubs compared to 47 warehouse clubs at the end of the Q4 of fiscal 2021. Our comparable net merchandise sales growth for our fiscal Q4 was 9.3% for the 14 weeks ended September 4, 2022. Foreign currency fluctuations had a negative impact on net merchandise sales and comparable net merchandise sales growth of 2.9% and 2.7%, or approximately $24.8 million and $24.9 million respectively. By segment in Central America, where we had 27 clubs at quarter end, net merchandise sales increased 11% with a 7.7% increase in comparable net merchandise sales. Foreign currency fluctuations had a negative impact on net merchandise and comparable net merchandise sales growth in Central America of approximately 3.4% and 3.2% respectively during the quarter. All of our markets in Central America had positive comparable net merchandise sales growth, except for Guatemala, which is experiencing sales transfers from other warehouse clubs to our new Arboleda club. In the Caribbean region, where we had 14 clubs at quarter end, total net merchandise sales increased 22.1% and comparable net merchandise sales increased 15.7%. Trinidad & Tobago net merchandise sales increased 26.5% for the quarter and contributed 2.1% of our total net merchandise sales growth of 13.6%. The significant improvement in Trinidad versus the prior period was largely due to COVID-19 closures and restrictions last year, combined with our decisions to increase imported inventory levels in the current period to meet current demand, which has helped to increase sales as our ability to source additional U.S. dollars has improved. In Colombia, where we had nine clubs open at quarter end, net merchandise sales increased 7.6%, primarily due to opening a new club in Q1 2022, and we had comparable net merchandise sales increase by 2%. Foreign currency fluctuations had a negative impact on net merchandise and comparable net merchandise sales growth in Colombia of approximately 11.3% and 10.7% respectively during the quarter. In terms of merchandise, we saw our foods category grow approximately 9% compared to the same quarter in the prior year. Our beverages, snacks and cookies, and oils and condiments category led the way with 22%, 17%, and 15% growth respectively. Our fresh category grew 11% compared to the same quarter in the prior year, led by our gourmet foods, poultry, and seafood departments with 21%, 15%, and 11% growth respectively. Our non-food categories grew 9% compared to the same quarter in the prior year. Obviously, we experienced some margin compression on those sales for the categories of excess inventory we had at the end of the Q3. In addition, improved conditions in Trinidad & Tobago boosted sales growth for our non-food categories, as these categories have generally performed quite well in this market. Finally, our other business category rebounded with 11% growth, primarily from our food service, bakery, and optical departments. Turning to margins, total gross margins on net merchandise sales were in line with expectations at 15.5% for the quarter, versus 15.9% for the same period last year. As Sherry described, we spent the quarter working through the overstock positions in some of our non-food categories as we focused on getting back to our core business and a more standard inventory balance and customary margin structures. We still have some excess inventory in some of our apparel categories, but we expect to be able to work through this inventory while generally returning to our pre-Q3 overall margin rates. Total revenue margins decreased 80 basis points to 16.9% of total revenues as compared to the same period last year. This revenue margin decrease is primarily attributable to the 40 basis point decline in merchandise gross margins and a decrease of 30 basis points due to the sale of Aeropost during the Q1. excuse me. SG&A expenses decreased during the quarter by 100 basis points as a percentage of total revenue, primarily due to the sale of Aeropost, which lowered warehouse club and other operating expenses by 60 basis points and general and administrative expenses by 40 basis points for a total of 100 basis points of impact on SG&A expenses. Operating income for the quarter increased 20% from the same period last year to $39 million. Other expenses of $1.4 million was primarily driven by $1.6 million in transaction costs associated with converting Trinidad dollars into tradable currencies. Our effective tax rate for the Q4 of fiscal 2022 came in lower than last year at 34.2% versus 35.5% a year ago, with our full fiscal year 2022 rate coming in at 33.2%. The decrease in effective tax rate is primarily related to the favorable impact from changes in income tax liabilities from uncertain tax positions. On a go-forward basis, we estimate an annualized effective tax rate of 32%-33%. Net income for the Q4 of fiscal 2022 was $23.3 million or $0.75 per diluted share, compared to $19.5 million or $0.63 per diluted share in the comparable prior year period. Moving on to the strength of our balance sheet, we ended the quarter with cash equivalents and restricted cash totaling $251.4 million. From a cash flow perspective, for the 12 months ended August 31, 2022, cash provided by operating activities decreased $5.3 million compared to the prior year, which was primarily a result of net changes in operating assets and liabilities. Specifically, changes in various components of working capital and non-current assets resulted in a $13.8 million dollar use of cash for fiscal 2022 compared to providing $13.1 million dollars of cash in fiscal 2021. Another contributor to the change in cash flow from operations was our inventory position heading into the peak holiday season, which increased to $464.4 million as of August 31, 2022, versus $389.7 million as of August 31, 2021. This was due to a combination of factors including purchasing patterns, inflation, pending pockets of excess inventory and the addition of three new clubs. Our goal is to decrease our inventory days on hand as we continue to right-size our inventory balance. Net cash used in investing activities decreased by $42 million for the twelve months ended August 31, 2022 compared to the prior year, primarily due to the decrease in the current period of purchases of certificates of deposit due to improved availability of U.S. dollars in Trinidad. With respect to Trinidad, our balance of Trinidad dollar-denominated cash equivalents, and short- and long-term investments measured in U.S. dollars further improved this year, decreasing $27.9 million from our fiscal 2021 ending balance to approximately $25 million. Net cash used in financing activities decreased by $82.9 million, primarily due to lower net repayments of short-term debt compared to the same 12-month period a year ago when we were repaying short-term facilities accessed at the early stages of the COVID-19 pandemic and obtaining additional financing. In closing, although our results for the quarter were impacted by some continued margin compression, we believe that the fundamentals of our business remain strong as evidenced by our strong sales growth and solid membership sign-ups and renewal rates. We are proud of the entire PriceSmart team for working through the recent merchandise challenges and positioning us for a strong 2023. We are excited about the upcoming holiday season, and we believe our value proposition, the investments we are making in our team and technology and how we conduct our business resonates with our members and within our communities. Before I turn the call over to the operator, I want to remind everyone as we look forward to our fiscal 2023 Q1 results, that when comparing these results to the prior year, in the Q1 of fiscal 2022, we recorded a non-recurring gain from our disposal of Aeropost, which positively impacted earnings by $0.05 a share. With that, I will turn the call over to the operator to take your questions. We will now begin the question and answer session. To ask a question, you may press star then one on your touchtone phone. If you are using a speakerphone, please pick up your handset before pressing the key. If at any time your question has been addressed and you would like to withdraw your question, please press star then two. At this time, we will pause momentarily to assemble our roster. The first question today comes from Jonathan Braatz with Kansas City Capital Associates. Please go ahead. Morning, Sherry. Mike. Good morning. Sherry, I appreciate the color on Colombia and the levers you can pull and so on. You know, the currency is depreciated quite a bit. Generally speaking, in broad terms, what are you seeing from the consumer and consumer behavior in Colombia as a result of the weakness in the Colombian peso? How is that affecting the consumer in Colombia? Well, just like you would expect, there is a bit more conservatism. Their shopping patterns are tilting more toward the essentials and basic goods. We're seeing fewer items in the basket, and people are being much more measured. I mean, we've given you the results of our overall performance there. I do believe there's an opportunity for us, and we've seen it in certain circumstances in the past, where when people become more disciplined about their spending, we play an even more important role because we're known in our communities to not gouge, not play high, low games. If we make a mistake, we make it in favor of the member. We work extremely hard to get the best value we can to our members. There's conservatism. Absolutely. We're seeing it. We're seeing it in other markets as well. We're also seeing that we're very well received. I mean, if you look back, our membership base has grown there. We went through a period a couple years ago where there's some retracting. Now, you know, we've been building again for FY 2022, but 2023 may be challenging. It may be challenging. I mean, it's just the reality. It's our job to do everything we can. There are opportunities. It's amazing. There are opportunities where, like, looking at our categories and our SKUs one by one, something that I don't think we've done in the past, go to that level. We can be very strategic about our pricing structure on items and continue to earn the faith and the trust of the members so they continue to not only shop with us, but rely on us and perhaps even win more business from us. Okay. Sherry, you mentioned you talked about your September sales, and there's a little bit of relative softness in the comps versus what we saw in the Q4. Is that more broad-based or is that something more isolated to the, you know, the issues that we're seeing in Colombia? Well, Colombia had a significant part of that. I think Michael just shared with you in Central America. We've had pretty strong positive comps in all markets except for Guatemala. Okay. Let me move. Okay. Yeah. Michael, can you- Yeah, go ahead. Please, Michael McCleary. Yeah. We did disclose in the 10-K a little bit of flavor about kind of recent results in Colombia. Oh, okay. Okay. There's a little bit of extra flavor for Q4 and September. Okay. I must have missed that one. You know, speaking of the 10-K, Mike, there's a little sentence in there that says about your export sales, how you might be exploring opportunities in other markets beyond the Philippines. I don't know if you've mentioned that before. I don't recall, but is there a new opportunity there you're working on? We are, John. We have a pretty seasoned executive who is looking for opportunities for us to be able to sell through either a licensee or sell in other markets. It's not material yet in terms of these new opportunities, so I'd prefer to wait and report on it when we've got some good results to share with you. There's some progress that's being made on two fronts, and one is a very new idea. That will allow us to have some additional income in the U.S. when we generate sales and profits through the export sales. Okay. All right. Thank you very much. All right. Thank you. This concludes our question and answer session. I would like to turn the conference back over to Sherry Bahrambeygui for any closing remarks. I wanna thank all of you and our employees and our investors for being part of our endeavor here to continue to bring good value to the members and do good things in our markets, especially during challenging times. We're very proud of our results, and we're committed to doing the very best we can as we go into 2023. Hope you all have a good day. The conference has now concluded. Thank you for attending today's presentation. You may now disconnect.