Call Replay | Restaurants & Consumer Staples Q&A

We explored the following topics:

• Recent trend changes in consumer spending.
• Discuss the pushback and feedback from our recent Black Book calls.
• Discuss the most common and noteworthy inbounds we have received in the past month.
• Revisit changes to our Position Monitors.
• Discuss our takeaways for the Q2 earnings season.
• Provide updates on some of our best ideas.