Contributor since: 2009
We just added Chipotle to our coverage universe:
Expect 60+ new restaurants & double-digit comps in Q4, 160+ openings in FY 2012 which should juice top-line growth.
However, restaurant-level operating margins have contracted 100 bps through first nine months of the year on the back of higher food costs (+230 bps).
Walmart breaks down as follows:
U.S. - $418/sq ft, -2.1% YoY
International - $407/sq ft, +3.9% YoY
Unfortunately, Walmart ceased reporting monthly sales back in 2009. Just 5 years ago, there were over 70 firms reporting and 10 years ago more than 100 retailers released monthly performance data.
Armando & Dagny - I agree with both of your comments - total sales are still well below peak levels from 2007, and this group just represents a small sample of the overall retail environment. However, it is another data point which shows improvement from the very depressed spending levels from a year ago.
Roughly 80% of Costco's sales come from the U.S., and a large part of the +25% international figure came from foreign currency translation - same-store sales were +10% excluding f/x. It's not perfect, but it's one useful indicator among many...