Chipotle dazzles with 66% digital sales growth

• Chipotle (NYSE:CMG) reports comparable sales increased 6.1% in Q4 to sail past the consensus estimate for a 4.5% rise. Digital sales skyrocketed 66% during the quarter and accounted for 12.9% of all sales.
• Restaurant-level operating margin rose 210 bps to 17.0% of sales during the quarter.
• Labor costs fell 40 bps to 27.1% of sales off the extra leverage.
• G&A expenses were up 8.5% of sales vs. 5.2% a year ago.
• Looking ahead at the full year, Chipotle anticipates mid-single digit range comparable restaurant sales growth and 140 to 155 new restaurant openings. An estimated effective full year tax rate between 27.0% and 30.0% is also seen.
• CMG +6.11% AH.
• Previously: Chipotle Mexican Grill beats by $0.32, beats on revenue (Feb. 6)