Question-and-Answer Session
Operator
(Operator Instructions) Your first question comes from [Brad Buddington] – Keybanc Capital Markets.
[Brad Buddington] – Keybanc Capital Markets
I just got a question on your guidance, I know you’re not providing same store sales guidance but do you have sort of negative same store sales for the full year baked in to that guidance on revenues?
Jose I. Ortega
The guidance does include negative same store sales for the duration of the year and then that’s offset by increasing sales from the new units coming on.
[Brad Buddington] – Keybanc Capital Markets
And beyond that, just on the other operating expenses, I know you didn’t go in to the line items, one that was significantly off for our model, that we were low on is when you go in to the other operating the other category, is there any color on what drove that one up so much year-over-year?
Jose I. Ortega
There were a number of miscellaneous items that were individually 10 to 20 basis points. There was no significant item that jumped out. Utilities which we didn’t mention before did go up during the quarter and a good portion of that again is related to the decreasing comparable sales in the period and the loss of leveraging on that.
Operator
Your next question comes from Greg Ruedy – Stephens, Inc.
Greg Ruedy – Stephens, Inc.
I guess I’ll take another shot at the same store sales. When I look at 60% to 65% guidance, my math tells me that we’re looking at mid negative to high single digit negative comps. Is that in the ballpark?
Jose I. Ortega
We won’t get in to a specific range. Again, we do have negative comps built in to the model for the balance of the year. It’s not the high single digits Greg, we’re more in the mid.
Greg Ruedy – Stephens, Inc.
Using some back of the envelope math, I have your existing [inaudible] performing at $10 to $15,000 per week higher than the units that are not in the comp base. How much of that is just from opening in markets that have the tough macro versus just opening soft and needing to ramp? And, what kind of ramp are you looking at?
Juan C. Garcia
Greg, as you know, it’s hard to pinpoint. Pembroke Pines opened in a really soft market which is South Florida but in an area where it is very under restaurant. Then you take Plano in Dallas, we’re the first one to open in the center, we’ve ramped up and we’ve been positive every single week since it opened and we’re now very pleased with the results. It’s hard to gage from one to the next depending on where we open and what the status of the center is.
- To read the full transcript on Seeking Alpha, click here »
