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.
Nordstrom reported 2Q19 revenues of $3.87 billion, down 5.1% year over year and below the consensus estimate of $3.92 billion. The company’s earnings per share (EPS) declined 5.3% year over year.
Kohl’s reported 2Q19 revenues of $4.43B, beating consensus of $4.31B, and down 3.1% YoY. The company reported adjusted 2Q19 EPS of $1.55, higher than consensus of $1.53.
From loyalty programs to experiential concepts, we assess how US department stores are transforming themselves to stay relevant.
JCPenney reported fiscal 2Q19 net sales of $2.51B, lower than the consensus estimate of $2.64B, and down 9.2% YoY. Comparable sales decreased 9.0% compared to the consensus estimate of down 5.1%.
July was a solid month for UK retail overall, according to the ONS: Sales grew 3.7% versus 4.0% in June and slightly below the 4.1% average for the prior 12 months.
In this report, we review year-to-date announced store closures and openings in the US, by sector.
Macy’s fiscal 2Q19 revenues were $5.55B, down 0.5% YoY, even with the consensus estimate. The company reported 2Q19 adjusted EPS of $0.28, down 47.2% from a year ago. Macy’s lowered EPS guidance.
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.
Most Coresight 100 retailers witnessed a decline in consumer spending, which translated into poor sales and inventory buildup in comparison to the same quarter last year. Tariffs and strategic investments also drove inventory accumulation.
US inflation softened a little, while wage growth remained unchanged. Retail sales growth weakened.
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.
Growth in the $89B US menswear market is driven by demand for more casual apparel. Athletic menswear brands, Nike, Adidas, and Under Armour, are taking market share from traditional brands.
Known for its night markets and cultural products, Bangkok’s retail scene also boasts many innovative brands and retailers testing new concepts – and making space for local design talent.
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.
New Retail is blurring the online and offline commerce in China. We review recent developments in New Retail in eight retail and consumer sectors: e-commerce; consumer electronics; fashion; fast-moving consumer goods and supermarkets; cosmetics and beauty; furniture and home improvement; department stores; and, local services.
