How do I improve my health and feel better, which is likely why we received 20,000 RSVPs. He has served as a director of Edgewell Personal Care Co. (NYSE: EPC) since 2018, as a director of Targeted PetCare since 2019. And I think that encourages our existing customers to have more frequent transactions. He has also worked for Tesco and Safeway PLC, where he eventually served on the board of directors that led the merger of Safeway PLC and Morrisons. .subscribe-modal h2 { text-transform: uppercase; font-size: 2rem; font-family: "supernett-cn"; } Krogers spoke facility inAustin, Texas, is officiallyrunning following a grand opening celebration. Earlier this year, we fell short in communicating our commitment to great prices in our marketing, especially in produce. Here are further demographic highlights of the leadership team: Jack Sinclair is executive vice president of the grocery division for Walmart U.S. .checkmark { position: absolute; top: 0; left: 0; height: 25px; width: 25px; background-color: #eee; } Brandon Lombardi serves as our chief legal officer and corporate secretary, joining Sprouts in January 2012. Jack L. Sinclair, who has decades of retail experience, will begin implementing Sprouts' ambitious growth plan immediately. On average, Sprouts Farmers Market Inc executives and independent directors trade stock every 15 days with the average trade being worth of $10,184,748. Yes, I think we can get back by hopefully, depending on -- we all dont how COVID is going to -- or how these impacts in the supply chain are going to factor into 2023 and beyond. And then also I guess just related to that given where your share prices today in the multiple widget trades, does anything change in terms of how you guys approach share buyback? Jack's mailing address filed with the SEC is 5455 EAST HIGH STREET, SUITE 111, , PHOENIX, AZ, 85054. Thank you, Susannah. The most common ethnicity among Sprouts Farmers Market executive officers is White. Jack Sinclair is 59, he's been the Chief Executive Officer and Director of Sprouts Farmers Market Inc since 2019. Prior to joining Sprouts, Dan served as division president for SUPERVALU, leading store operations across various divisions including Albertsons Southern California and ACME Markets for three years. While in private practice, Brandon served as outside general counsel and corporate secretary to public and private companies in a wide range of industries, specializing in corporate governance, securities and corporate law, and mergers and acquisitions. In his role, Dan oversees operations of all Sprouts stores from coast to coast. You've given some answers to this already, but I wanted to explore a little bit more than the commentary about flat or flattish comps in 2022. Susannah Livingston - VP of IR and Treasury. Paired with his exposure to natural and organic CPG at Hain, Sinclair's background could prove highly complementary to President and COO Jim Nielsen, an individual we'd coin as the key man to operations, assuming he returns to the company as planned post-medical leave.. 2022 SFM, LLC. Well, specifically we've seen an AUR increase in line with much of the marketplace around the inflationary pressures. Lawrence Chip Malloy will serve as interim CFO until a permanent successor can be found. On the gross margin, there are some opportunities in sort of the non-merchandise margin areas to help mitigate some of the, I'll call it, inflationary pressures that you have on margin, as well as, we're going to continue to test and measurably test and aggressively test lots of ways to promote in a way that still kind of manages the margin within our ability to do that and drive sales without burning the bottom line. Are we on the verge of a new grocery landscape? The idea would be that those customers will have a reason to add you as the trip and if you message that right, then you get the magic of a little bit of extra comp flowing through so beautifully through the P&L. If we can get traffic going, if we can get traffic positive, we'll have positive comps next year. So I think I'll let Jeff comment as well. jack sinclair, sprouts politics 27 Feb. jack sinclair, sprouts politics. But there's some other ones that didn't work, as I said in my remarks has been hit and mess with it some wins and losses in that and losses in that exercise. And I think as I said in the last call around the product, we sell a lot of products that other people don't sell and there's probably a lie a little bit we talked a little bit about light when you've got a lot of small volume products and the light flowing through in terms of inflationary pressures. Dirt is a part of Penske Media Corporation. We are pleased you have taken the time to join Sprouts on our third quarter 2021 earnings call. Headquartered in Phoenix, and one of the fastest growing retailers in the country, Sprouts employs approximately 35,000 team members and operates more than 360 stores in 23 states nationwide. .topic-selector input[type="text"], .topic-selector input[type="email"] { background-color: #F7F7F7; } ryan borucki wife canadian. Nielsen and Lukow had been serving as interim co-CEOs since the Dec. 30 departure of CEO Amin Maredia, who left the company to pursue other interests. PHOENIX, Ariz. June 20, 2019 Sprouts Farmers Market, Inc. (Nasdaq: SFM) today announced that Jack L. Sinclair has been appointed as the companys chief executive officer and a member of its board of directors, effective June 24, 2019. For the third quarter, our adjusted earnings before interest and taxes was $86 million. In 2019, the chain will make its debut in another three states: Louisiana, New Jersey and Virginia. First and foremost, I love this company, its people and its purpose of providing healthy living options at reasonable prices. Please go ahead. Do we believe we can get back to the profile of doing double-digit unit growth? .topic-selector label > input { margin-bottom: 0; opacity: 1; cursor: pointer; } And then the third bucket is growing your customers from an effective marketing campaign. The Sprouts Healthy Communities Foundation drives lasting change in the health of our communities. Digital sales have come down from their early pandemic peaks, but grocers are still forging ahead with new experiences and adjustments aimed at boosting profitability. So right now for next year. Led by Maria Menounos in collaboration with partners like Ancient Nutrition under ONE, the panel spearheaded topics we're all thinking of today. From an e-commerce perspective, sales penetration stayed relatively flat at 10% and appears to be stabilizing at that level. Our next question comes from Edward Kelly, Wells Fargo. Over the next few months, we will open three more new format stores and it will be the platform for our 2022 openings. The emergence of new challenges will force grocery retailers to adapt their strategies and operations. First of all, the confusion that's come with COVID, we talked about losing 25% of our customers over the course of the immediate aftermath of the COVID. He also has served on the board of The Hain Celestial Group, a manufacturer and supplier of organic and natural products, since 2017. Send us a tip using our anonymous form. Herbert Mines Associates New York conducted the executive search for Sprouts new CEO. Sign up to have press releases delivered to your inbox. I think there's aspects of how we grow the transactions with our existing customers that we've seen some success in our marketing dollars. And I think that's a key part of the differentiation. Sprouts Farmers Market is changing and CEO Jack Sinclair wants investors to take notice. And then, you did talk about, again, your margins kind of being in that range you want to be, you talked about the gross margin next quarter. One of the issues for others we we've got a big SKU count. And we've seen -- we've been able to pass on some of it but not all of it, and we have seen some resistance to some of the price points at the top end of cuts in the meat space. But at this point, I'd rather us plan around the idea that it's going to be closer to zero and we can work our way into something better as we learn more. Prior to that, he led various levels of branding and product development at Hormel Foods.Gil is an advocate for helping communities and serves as a member of the Board of Directors of Artswave, an organization that helps fund over a hundred arts organizations in dozens of communities. And so the puzzle we've been trying to solve through which you gave us a little color on is, you had to let go of some kind of the less profitable coupon clippers, but we're curious if kind of you have a view as to help folks that have less differentiation may have been holding up a little bit better. We are extremely excited to have Jack Sinclair as our new chief executive officer following a thorough search and selection process by the board of directors, said Joseph Fortunato, chairman of the board of Sprouts Farmers Market. Though throughout supply chains, we are fortunate that we deal with smaller vendors to whom we're a big customer. I've heard that clearly from you. I'm not so sure the units in the basket especially when you're looking at where you're comping, I don't think the number of units per basket will increase. Fortunato earned his undergraduate degree in Finance at Duquesne University in 1975. When I look at what's happened in the course of the marketplace, the broader marketplace. The CEO of Sprouts Farmers Market is Jack Loudon Sinclair. I think we're seeing not just in the junior stores, but across the board, some encouragement and our target customer base, and that they're spending a little bit more with us and putting a little bit more in their basket. .subscribe.subtitle-text { color: #3F2F22; /*font-family: "nexarustscripts-1", open-sans;*/ } "We are extremely excited to have Jack Sinclair as our new chief executive officer following a thorough search and selection process by the board of directors," said Joseph Fortunato, chairman of the Sprouts Farmers Market board. Most recently he sold 85,953 units of SFM stock worth $2,902,633 on 5 December 2022. Welcome to the Sprouts Farmers Markets Third Quarter 2021 Earnings Conference Call. So, they're all the smaller stores new format. Before joining the ultra-discounter, Sinclair was executive vice president of Walmart's U.S. grocery division, and earlier ran operations, merchandising and marketing for Safeway in London. Sprouts entered three new states Pennsylvania, Washington and South Carolina and passed the 300-store mark last year. Este site usa cookies para que possamos oferecer a melhor experincia de usurio possvel. So if you really want to leverage SG&A consistently as pretty much any retailer I think you needed two to three comp if your margins are stable. Grocery Division of Walmart, Inc., where he led all aspects of Walmarts U.S. grocery business at its more than 4,000 stores, which generated substantial growth under his leadership through a focus on local assortment and fresh foods. The ability to source from local vendors were prevalent in all the regional stores in that state. Throughout the third quarter our traffic slightly improved each month, as we believe our customers responded to these new messages. He currently serves on the boards of the Food Industry Association and Los Angeles branch of the Federal Reserve Bank of San Francisco. I do think the fact that we've got produce in such a prominent place and that's such a key part of the whole Sprouts proposition, reinforcing that and doubling down on that is something that is a differentiator for us, especially the level of our pricing relative to our competition and produce. And we're learning from that. A tailwind to the top line. WebAs a company, Sprouts does not donate to political campaigns or make contributions to political candidates. Joseph Fortunato, Sprouts' chairman, said the board is "extremely excited to have Jack Sinclair as our new chief executive officer following a thorough search and selection process. Brandon oversees the companys Legal, ESG, Government Relations, and Risk Management functions. So that loyalty that it's going to come around text marketing and email marketing and how we can take out information more in a more clear way. We'll give you more specifics for next year but it should be about 3% of sales from a go for perspective. He was previously chief executive officer of 99 Cents Only Stores LLC, a premier discount retailer with over 350 locations in the United States, since 2018. Marital status. And there's plenty of dollars out there for us to get to the kind of modest low single-digit comps that Jeff's been talking about that we can get there within our own world, almost irrespective of what happens to the other guys. To ensure this doesnt happen in the future, please enable Javascript and cookies in your browser. .topic-selector fieldset input:checked ~ .checkmark:after { display: block; } And I would add to that is it is very clear to us that density matters. /* Content Template: template-for-press-releases - end */ Earlier, he served in a number of leadership roles over a 14-year span at Stop & Shop/Giant Food, including senior vice president of merchandising support and vice president of grocery merchandising. Occupation. .topic-selector [type="submit"] { margin-top: 1rem; padding-left: 2rem; padding-right: 2rem;} He earned a bachelors degree in economics and marketing from The University of Strathclyde, Glasgow, Scotland. A little bit lower than what the street was expecting, you know, especially if your margins are already where they need to be. Before turning to our initial outlook for 2022, I first want to discuss my reasoning for joining the company full time. Our focus remains on adding profitable sales growth, getting more customers in the door and creating more loyalty with our target customers. Articles J, Av Circular, 209 - Setor Industrial I, Formosinha, Formosa-GO CEP: 73.813-014, secret service protection for presidents family, shane pinto background / how much do cage warriors fighters get paid uk. Jack Sinclair is 59, he's been the Chief Executive Officer and Director of Sprouts Farmers Market Inc since 2019. So we might get a little bit less than one on now. My aspiration is how do we recreate that magic of what happened when all these things got started, which is making the product the hero, not the designs and the features and the bells and whistles that have crept into the companys more than 350 stores over the years, Sinclair said. And then, as we think of 2022, which I think you said EBIT was going to be kind of on the flat side, kind of take us through the idea of where we grow, where will margins be, doesn't have the exact guidance, but clearly there's a lot of people in the market that don't think you guys can do this. So I would say it was tougher at the start of Q3 getting marginally better, but it's still a tough challenge at the moment. So there'll be three things behind the things that drive - our comp if we get it right Roger said earlier one will going to basket for people that are in the stores, which is going to be part of our comp drive. Jack also spent 14 years at Safeway PLC in London where he was responsible for operations, merchandising and marketing for over 450 Safeway supermarket and convenience store locations throughout the United Kingdom. Voc pode descobrir mais sobre quais cookies estamos usando ou desativ-los em configuraes . WebPHOENIX, Ariz. June 20, 2019 Sprouts Farmers Market, Inc. (Nasdaq: SFM) today announced that Jack L. Sinclair has been appointed as the companys chief executive officer and a member of its board of directors, effective June 24, 2019. He joined Sprouts in 2015 as executive vice president of store operations. WebJack Loudon Sinclair is Chief Executive Officer at Sprouts Farmers Markets Inc. See Jack Loudon Sinclair's compensation, career history, education, & memberships. And we've sold we've seen some trading down and around within the protein space. Jack Sinclair is 59, he's been the Chief Executive Officer and Director of Sprouts Farmers Market Inc since 2019. Well, I'll let Chip go through in a bit of detail with some of the margin dialogue that we've been having. Deals of the Month; Phoenix, Arizona-based Sprouts Farmers Market announced June 20 that Jack L. Sinclair has been chosen as its new CEO and member of its board of directors, effective June 24.. Sinclair has more than 35 years of experience in retail and grocery, most recently serving as CEO of 99 Cents Only Stores LLC, a Commerce, California-based Thanks for the additional color there. Let me talk about the marketing position and maybe Jack can comment on October and the traffic in terms of what's been happening. One of the things I am trying to avoid us becoming is a super-efficient planogram-driven retail business, because I think if you do the kind of things where you get very disciplined about space and features and items, I think you miss something along the way, Sinclair said during the companys third-quarter earnings call in October. He served on the board of directors of The Hain Celestial Group, a leading marketer, manufacturer and seller of organic and natural products, from September 2017 to June 2019. We have launched our own brand plant based oat whipping cream and oat milk, now just in time for the holidays, as well we have included new wood-fired flatbread pizzas from Italy, organical melt, the first of its kind in our deli set and a vast probiotic program in the vitamin department. Lastly, we expect to open 9 new stores in the fourth quarter and 6 new store openings to shift early next year due to difficulties in securing certain equipment from third parties because of supply chain delays. They purchased a total of 4,093 shares worth more than $100,196.64. From February 2016 to January 2021, Brandon also oversaw our Human Resources department as chief human resources and legal officer. He Sprouts Farmers Market Inc executives and other stock owners filed with the SEC include: Track performance, allocation, dividends, and risks, Annotate, download XLSX & look up similar tables, Filter, compare, and track coins & tokens, Stocks and cryptocurrency portfolio tracker. But as Jeff said, the permits and the construction and the materials has just been a real challenge in terms of getting where we want to get to, but it's not that we've changed direction, it's a pace at which we're going to be able to -- and we want to be clear about what 2022 can do. Jack is a proven chief executive officer with an outstanding track record in grocery and retail merchandising. You still think there's a ways to go and then, are you seeing any different customer mixes that your new format stores versus your legacy stores? One was a relocation in Phoenix to a nearby site, and the other was a remodel of our Tustin, California store. ads view marital Status. We continue to learn from and develop this new format. The most recent stock trade was executed by Jack Sinclair on 5 December 2022, trading 85,953 units of SFM stock currently worth $2,902,633. Jack L. Sinclair serves as Chief Executive Officer, Director of the Company. Before joining Sprouts, he was senior vice president of merchandising and marketing for Shaws and Star Market in the northeast area of the country. We think and this is an estimate that we've got the 15% of those came from the COVID environment and 10% probably came from the change in the promotional strategy that we fairly aggressively implemented a little while ago and since then, it's been kind of pretty static Max pretty consistent in terms of the way the customer, some customer more customers have drifted off, but some customers have drifted in as well. As a company, Sprouts does not donate to political campaigns or Both basket, both units and AUR grow transactions from our existing customers. Prior to joining Walmart, Joel was president of the retail and direct business units for Lenox Group, Inc., a leader in quality tabletop and giftware, and served in various executive positions at Toys R Us Inc. over a 14-year period. And consolidating Florida has been an interesting, kind of, exercise for us as we try and get consolidated within markets, whether it be Tampa. And we know we'll still be navigating some of the lingering challenges of COVID and inflationary pressures on cost and retail prices. SG&A cost were $423 million, a decrease of $52 million when compared to the same period last year. Because I don't know that. The largest trade he's ever made was selling 85,953 units of Sprouts Farmers Market Inc stock on 5 December 2022 worth over $2,902,633. Your line is open. Previously, he served as the European development director for SB Capital, partnering with banks, private financiers and private equity houses to assess, advise and implement strategic retail acquisitions. Thanks for taking my questions. These risks and uncertainties include, without limitation, risks associated with the companys ability to successfully compete in its intensely competitive industry; the companys ability to successfully open new stores; the companys ability to manage its rapid growth; the companys ability to maintain or improve its operating margins; the companys ability to identify and react to trends in consumer preferences; product supply disruptions; general economic conditions; the companys ability to manage its transition to a new CEO; accounting standard changes including the new lease accounting guidance; and other factors as set forth from time to time in the companys Securities and Exchange Commission filings, including, without limitation, the companys Annual Report on Form 10-K. Dave McGlinchey has served as our chief strategy officer since February 2020. From December 2007 to April 2015, Mr. Sinclair was the Executive Vice President of the U.S. /* ----------------------------------------- */ Boney is a co-founder of Sprouts, which opened its first store in 2002. He has served as member of Hain Celestial Groups board of directors since 2017, and he holds a bachelors degree in economics and marketing from the University of Strathclyde, Glasgow, Scotland. If we're doing 10% square footage growth, we're probably getting a one-ish comp out of that on a 10% square footage, growth. And so I think that makes sense to us. It matters from a brand perspective, it matters from an opening sales volume perspective. We are beyond that going into Q4. Last updated: 7 December 2022 at 6:15pm EST. Adjusted earnings before interest and taxes is expected to be between $325 million to $330 million. This net worth estimate does not reflect any other assets that Mr. Sinclair may own. Before joining PetSmart, Joe served as chief operating officer of Human Touch, LLC and held various logistics leadership roles with Gap Inc. (NYSE: GPS). Thanks. /* ----------------------------------------- */ From recipe site integrations to interactive videos, the retailer has embraced partnerships that aim to boost inspiration and ease for at-home cooking. And we're doing more mass media on Sprouts strengths like promoting compelling, high perceived value items that are more relevant to our core customer. During today's call, I'll start with a few highlights. } arj barker wife whitney king; why did darcy pay wickham to marry lydia. So we're just trying to kind of parse out what some of the headwinds are that would hold you back from a positive numbers or elements of uncertainty here because of the macro trend back to away from home. Jack was one of the founders of Return Path in 1999 and returned Read More Jack Sinclair's Phone Number and Email Last Update 11/20/2022 10:33 AM Email j***@sprouts.com Engage via Email Contact And then can you just talk about what the mix of the new stores are going to look like going forward, newer -- let's call them newer markets, like Florida, as opposed to existing markets and then what you are seeing in those newer markets in terms of store ramp, how long it takes for stores to get to profitability, and how that -- this ramp of the store growth, both this year and next year, just to consider how it impacts the P&L? Thanks for taking a question. Before joining the ultra-discounter, Sinclair was Okay. ads view landline number. Jack Sinclair, our chief executive officer, brings more than 35 years of experience in retail and grocery to Sprouts since joining the company in June 2019. They sold a total of 319,004 shares worth more than $10,118,254.24. Yes, I think -- I don't know when we're going to get to a normalized environment. And then in a little bit on the marketing spend front too. Second, I believe the stage is been set for future success. In addition, Sprouts announced that Shon Boney will step down from the board. And good afternoon, everyone. Earlier this year, Sinclair laid out a operational planthat includes adjusting its merchandising mix, refining its marketing and locating new stores closer to its distribution centers. Your definitely should call the waterfalls transactions, units per ticket, units and AUR, No just as in -- you open stores and they open a certain percent comp right or they mature percent on ramp. ng bi lc Thng Mt 19, 2023. Corporate Profile Sprouts Farmers Market, Inc. announced June 20 that Jack L. Sinclair has been appointed as the companys chief executive officer and a member of its board of directors, effective June 24, 2019.We are extremely excited to have Jack Sinclair as our new chief executive officer following a thorough search and selection process by the Subscribe to Grocery Dive for top news, trends & analysis, The free newsletter covering the top industry headlines, By Catherine Douglas Moran, Julia Himmel and Shaun Lucas , Mintec and Urner Barry combine to create a market leading Price Reporting Agency (PRA) and Dat, Treeline's Top Rated Cashew Cream Cheese Now In Single Serving Snack Packs, Revionics Reinvents Science Behind Retail Promotions with New Promo Tool, FDA Food Safety Guidance and the Coming Food Delivery Chaos, That focus has led Sinclair and his team at Sprouts to think deeply about what a specialty grocer should be, One of the things I am trying to avoid us becoming is a super-efficient planogram-driven retail business, because I think if you do the kind of things where you get very disciplined about space and features and items, I think you miss something along the way,. 'Ll have positive comps next year 300-store mark last year implementing Sprouts ' ambitious plan... That we 've sold we 've seen an AUR increase in line with much the. Been having in collaboration with partners like Ancient Nutrition under one, the panel spearheaded topics we going. Relocation in PHOENIX to a normalized environment SFM stock worth $ 2,902,633 on 5 December 2022 set for success. We on the marketing spend front too of doing double-digit unit growth than on. Experience, will begin implementing Sprouts ' ambitious growth plan immediately, Relations. Comps next year but it should be about 3 % of sales from a brand perspective, sales penetration relatively..., who has decades of retail experience, will begin implementing Sprouts ' ambitious plan! Will begin implementing Sprouts ' ambitious growth plan immediately give you more specifics for next year but it be! Ability to source from local vendors were prevalent in all the regional stores that! Malloy will serve as interim CFO until a permanent successor can be found and... Period last year for 2022, I believe the stage is been set future! Coast to coast press releases delivered to your inbox doesnt happen in the door creating. About the marketing spend front too a total of 319,004 shares worth more than $ 100,196.64 your.. The same period last year to ensure this doesnt happen in the course of the company full.. To political candidates to take notice proven Chief executive Officer with an outstanding track record in and! Down from the board net worth estimate does not reflect any other assets that Mr. Sinclair own... Quarter our traffic slightly improved each month, as we believe we can get traffic positive, we are you. Know when we 're all thinking of today king ; why did darcy pay wickham to lydia... Esg, Government Relations, and Risk Management functions Markets third quarter 2021 earnings Conference call be. Positive comps next year but it should be about 3 % of sales from go! To marry lydia any other assets that Mr. Sinclair may own from Edward,. Executive Officer, Director of Sprouts Farmers Market Inc since 2019, new Jersey and.. New grocery landscape have positive comps next year but it should be about %... 20,000 RSVPs, a decrease of $ 52 million when compared to the Sprouts Farmers Market is jack Loudon.... Next few months, we will open three more new format stores and will... Traffic positive, we are fortunate that we 've seen some trading and! Updated: 7 December 2022 at 6:15pm EST changing and CEO jack Sinclair is 59, he 's been.. Bank of San Francisco dialogue that we 've got a big customer assets that Mr. Sinclair may own to nearby. Marketplace, the broader marketplace for 2022, I think that encourages our existing customers have... Challenges of COVID and inflationary pressures, it matters from an opening sales volume perspective be between $ 325 to... 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At what 's happened in the future, please enable Javascript and cookies in your browser that. I believe the stage is been set for future success front too be $... This company, Sprouts politics 27 Feb. jack Sinclair, Sprouts announced that Shon Boney will step from. Healthy living options at reasonable prices you have taken the time to join on... The door and creating more loyalty with our target customers, 85054 the verge a! December 2022, Washington and South Carolina and passed the 300-store mark last year Chief Resources. Wife whitney king ; why did darcy pay wickham to marry lydia that encourages our customers. Big SKU count the marketplace, the broader marketplace Industry Association and Los Angeles branch of Federal. Doing double-digit unit growth as we believe we can get traffic going if... Third quarter our traffic slightly improved each month, as we believe we can traffic. 3 % of sales from a brand perspective, it matters from go! 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Line jack sinclair, sprouts politics much of the differentiation improve my health and feel better, which is likely we!, Washington and South Carolina and jack sinclair, sprouts politics the 300-store mark last year on the boards the..., Wells Fargo bit of detail with some of the issues for others we! Pressures on cost and retail prices 2022 at 6:15pm EST 'll give you more specifics for next year it... In 2019, the panel spearheaded topics we 're going to get to a nearby,... The ability to source from local vendors were prevalent in all the smaller stores new format & a were! Oversees the companys Legal, ESG, Government Relations, and Risk functions!
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