Disney reported stronger domestic park results for the December quarter, despite Universal also reporting stronger results in Orlando. Attendance for Disney increased +1%, along with growth in average admission price, per-cap spending, and hotel occupancy, led by Orlando and despite a material decline in international visitation to Disney World and Disneyland. Given the large size of Disney World and Universal Orlando, that both simultaneously grew rate and attendance demonstrates that the new Epic Universe park grew the overall Orlando market.

Download deck

Comcast’s Q4 results showed strong gains at its domestic parks. Advan estimates that Orlando was up at the legacy parks and that the new Epic Universe was up QoQ in attendance (despite what is a slower season period). Universal’s Halloween event was particularly successful, both CA and FL. The success at Universal was not a detriment to Disney’s attendance and Advan estimates that Disney’s attendance also strengthened from Q3’s pace.

Apple won the Holiday in consumer electronics due to compelling new products (largely the iPhone) and a highly competitive US wireless industry. The industry’s strong offers on handsets to subscribers (subsidies), is putting more money into Apple’s coffer. Given the high spend on Apple’s products this holiday season and the vast number of retail brands that sell the iPhone, that crowded out consumer spending in consumer electronics and at Best Buy.

Sherwin reported softer volume results in a lower-volume period, reflecting still soft end-markets. However, the quarter ended and Q1 has started at a faster pace. Sherwin’s 2026 is “softer for longer” and a continued tepid new and existing housing market. Consequently, like in Q4, Sherwin is planning for market share gains to drive top-line growth. Sherwin-Williams produced a +2.7% sales increase for its Paint Stores Group (PSG) business segment which was softer than Q3 (+5.

Starbucks reported much improved comp-growth for its Dec. quarter, including in the US. The improvement stems from the turnaround initiatives devised by CEO Brian Niccol (now five quarters in the role.) Advan data closely matches management’s proof points on the turnaround. The introduced annual guidance indicates that management expects the momentum to build. Niccol’s plan is working, including the reinvestment in store standards, service levels, and brand. Better profit levels are to come in the 2H.

Chili’s comped- the comp and sales are now 62% higher than four years ago. Current QTD comp traffic is running above guidance (per Advan). Chili’s continues to win the “moment of truth” in where consumers choose to dine due to its brand standing for greater value (bang-for-your-buck); Chili’s intends to reinforce that perception and will underprice inflation and competitors in 2026; most will be forced to raise menu prices to offset beef cost inflation.

Download deck

Thomas Paulson, Head of Market Insights at Advan Research, presented this deck at BattleFin Miami 2026, highlighting how foot traffic data can unlock insights across healthcare, industrials, materials, and B2B markets. Download deck

At this week’s ICR conference, most presenting retailers announced that they had an on-plan, or better, holiday season. The message from restaurant companies was more nuanced, full-service better (in-line with our preview), limited service, still facing headwinds, which are likely to last for the 1H, excluding the $90bn estimated (per Morgan Stanley) increase in consumption from consumer-facing tax cuts (OBBBA). Yes, lots of talk of AI. It won’t be 2026.