June 21, 2017 Insight Report Premium Amazon Ramps Up Its Effort in ApparelAmazon announced on June 20 that it is launching a new service called Prime Wardrobe, which lets customers try on clothes before they buy them and return them for free if they decide they do not want them.
June 21, 2017 Event Coverage Register for Free Access Alibaba Gateway ’17 Day 1 TakeawaysThe Fung Global Retail & Technology team is at the Alibaba Gateway ’17 event in Detroit, Michigan. This inaugural conference, which attracted over 3,000 attendees, is the largest event Alibaba has hosted outside of China. Alibaba Gateway aims to help small- to medium-sized businesses in the US to better understand the China opportunity and enable them to sell into China via Alibaba’s various platforms.
June 20, 2017 Event Presentation Premium Global Retail Revolution Brings Threats as well as OpportunitiesM&A chatter: • Nordstrom announced it is exploring a “going private” transaction (June 8, company press release) • American Eagle Outfitters is reported to be bidding for Abercrombie & Fitch with private equity firm Cerberus Capital Management (May 25, Reuters.com) • Deckers Brands announced that it is reviewing strategic alternatives (April 25, company press release) • The parent company of Jimmy Choo announced that it is reviewing strategic alternatives for the shoe brand (April 25, Bloomberg.com) • BJ’s Wholesale Club put itself up for sale in April (April 14, New York Post)
June 20, 2017 Event Coverage Register for Free Access Takeaways from Lululemon Athletica’s Presentation at the 2017 William Blair & Company Growth Stock ConferenceAt the 2017 William Blair & Company Growth Stock Conference in Chicago, Stuart Haselden, COO and CFO of Lululemon Athletica, outlined the company’s plan to reach revenues of $4 billion by 2020, doubling both revenues and earnings. The key growth drivers for reaching this goal include:
June 20, 2017 Flash Report Register for Free Access Amazon to Acquire Whole Foods Market for $13.7 Billion in CashAmazon announced the signing of a definitive agreement to acquire Whole Foods Market, including the company’s net debt, for $13.7 billion in cash. The transaction is expected to close in the second half of 2017.
June 19, 2017 Company Earnings Update Register for Free Access TESCO (LSE: TSCO) 1Q18 Update: Sixth Consecutive Quarter of UK Comp GrowthTesco reported total group sales (ex fuel) of 3.6% in 1Q18, or 0.8% at constant exchange rates.
June 19, 2017 Flash Report Register for Free Access Walmart to Acquire Bonobos for $310 Million in CashWalmart announced the signing of an agreement to acquire Bonobos, Inc., a leading apparel brand built on the Internet, for $310 million in cash.
June 16, 2017 Company Earnings Update Register for Free Access H&M (STO: HM-B) Monthly Sales Update: Weak Sales in MayH&M reported total sales rose by 4% year over year in local currencies in May 2017. This compares to year-over-year sales growth of 7% in April.
June 16, 2017 Company Earnings Update Register for Free Access Kroger (KR) 1Q17 Results: In-Line EPS; Company Lowers Guidance Due to Higher Inflation ExpectationsKroger reported 1Q17 adjusted EPS of $0.58, in line with the consensus estimate. Revenues were $36.3 billion, up 4.9% year over year and slightly above the $35.6 billion consensus estimate.
June 15, 2017 Company Earnings Update Register for Free Access Inditex (BME: ITX) 1Q17 Results: Continued Sales and Margin StrengthInditex reported 1Q17 revenues of €5.6 billion, an increase of 14.1% year over year and above analyst estimates. Constant currency sales increased 12.5% year over year in 1Q17, which ended April 30.
June 9, 2017 Company Earnings Update Register for Free Access Takeaways from Walmart’s 47th Annual Shareholders’ MeetingThe Fung Global Retail & Technology team attended Walmart’s 47th Annual Shareholders’ Meeting, held in Fayetteville, Arkansas. Below are takeaways from the meeting:
June 9, 2017 Company Earnings Update Register for Free Access Hudson’s Bay Company (HBC) 1Q17 Results: Misses Guidance, Implementing Transformation PlanHudson’s Bay reported fiscal 1Q17 EPS of C$(1.21), down from C$(0.58) in the year-ago quarter and below the C$(0.75) consensus estimate. Revenues were C$3.20 billion, down 3.0% year over year and slightly below the C$3.26 billion consensus estimate.
June 9, 2017 Insight Report Premium Walmart Taps Store Employees to Test Last-Mile Delivery InitiativeWalmart’s latest initiative in its ongoing competition with Amazon is to test a new delivery program that sends store employees to deliver online orders to customers’ homes at the end of their shifts.
June 9, 2017 Flash Report Register for Free Access Nordstrom Announces Exploration of “Going Private” TransactionNordstrom announced today that members of the Nordstrom family and Anne Gittinger have formed a group to explore the possibility of pursuing a “going private” transaction that would acquire 100% of the outstanding shares of the company.
June 8, 2017 Company Earnings Update Register for Free Access Boohoo Group (LSE: BOO) 1Q18 Update: Revenues Double, Comps Up 78%, Top-Line Guidance RaisedBoohoo.com grew 1Q18 revenues by 106%, or 98% at constant exchange rates, helped by the acquisition of PrettyLittleThing and the Nasty Gal brand.
