Coresight Research helps retail clients accelerate innovation and growth. We focus on disruption at the intersection of retail and technology – and help you understand what it means for your business. Coresight Research has a global presence spanning the US, Europe and Asia, including deep expertise in the China market.
In this report, we review year-to-date announced store closures and openings in the US, by sector.
“New Retail” is a model for integrating online retail, offline retail and logistics across a single value chain powered by data and technology. In this biweekly series, we review the latest trends in New Retail, with a focus on major digital platforms and multichannel retail companies in China.
In the US, year-to-date announced closures have already exceeded the total we recorded for the full year 2018. Coresight Research estimates announced US store closures could reach 12,000 by the end of 2019.
In the US, year-to-date announced closures have already exceeded the total we recorded for the full year 2018. Coresight Research estimates announced US store closures could reach 12,000 by the end of 2019.
Casino Group reported 1H19 net sales of €17.84 billion, up 3.5% year over year at constant currency (up 0.3% year over year as reported) and missing the consensus estimate of €17.93 billion by StreetAccount.
In 1H19, Carrefour reported recurring operating income of €618 million, up 2.7% year over year but below the consensus estimate of €622 million.
Alibaba’s supermarket chain Freshippo’s introduction of Pick’n Go leverages China’s growing away-from-home-breakfast market, expected to be worth ¥840 billion (around $126 billion) by 2021. The new store format is also part of Freshippo’s effort to diversify its revenue streams.
Store closures continued this week, with Charming Charlie announcing it will close all 261 of its stores as its core business is squeezed by increasing competition that is erasing its raison d’etre.
In June, Costco’s same-store sales growth was slightly above the consensus estimate while e-commerce growth slowed from May’s solid 20.7%.
In the US, year-to-date announced closures have already exceeded the total we recorded for the full year 2018. Coresight Research estimates announced US store closures could reach 12,000 by the end of 2019.
Alimentation Couche-Tard reported fiscal 4Q19 revenue of $13.1 billion, down 3.7% year over year and slightly below the consensus estimate of $13.3 billion. The company reported adjusted diluted EPS of $0.52, down 11.9% year over year and below the consensus estimate of $0.55
Coresight Research tracks news about store closures, openings and bankruptcies. Our Weekly US and UK Store Openings and Closures Tracker focuses on department stores and specialty retail stores, including, but not limited to, those selling softlines, hardlines, consumer electronics, groceries and furniture.
In 1Q20, ended May 31, 2019, Seven & i reported a 1.3% year-over-year decline in net sales. However, the company’s EPS increased 21.5% in the first quarter.
Sainsbury’s reported comparable sales ex fuel fell 1.6% year over year in 1Q10, compared to a 0.9% decline in the previous quarter and missing the consensus estimate of a 1.4% decline recorded by StreetAccount.
This report reviews the most recent quarterly earnings for (mostly) US-based companies in the Coresight 100, our focus list of retailers, brand owners and real estate firms.
