Fast retail is Coresight Research’s term for a new approach to retail featuring shorter leases, more shared spaces and more short-term stores. In this report, we profile the prevailing major fast retail formats in the US, ranging from pop-ups to marketplaces.
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.
Brookfield Property Partners (NASDAQ: BPY) 1Q19 Results: Beats Consensus by a Penny, Completes Share and Unit Repurchases
Brookfield Property Partners reported FFO (funds form operations) that beat consensus estimates by a penny. During the quarter, the company completed one announced plus one another share and unit repurchase.
Macerich reported 1Q19 results that beat consensus revenue and FFO estimates and raised/reaffirmed its 2019 EPS and FFO guidance.
Taubman Centers (NYSE: TCO) 1Q19 Results: Beats Consensus Estimates, Updates 2019 Guidance for The Gardens Mall Acquisition
Taubman Centers beat consensus estimates on the top and bottom lines and updated 2019 guidance to reflect The Gardens Mall acquisition.
Simon Property Group (NYSE: SPG) 1Q19 Results: Beats Consensus on Revenues and FFO, Reiterates 2019 Guidance
Simon Property Group’s 1Q19 results beat consensus estimates and the company reiterated its 2019 earnings guidance.
Unibail-Rodamco-Westfield (AMS: URW) 1Q19 Update: Revenue and Traffic Increases in European Shopping Centers
URW reported a 70.2% year over year revenue increase, driven by the acquisition of Westfield Corporation, in addition to higher traffic in Europe.
This report discusses notable US retail bankruptcies in 2017-2018 and examines key factors that led retailers to collapse.
January 2019 US Monthly Retail Traffic and In-Store Metrics Report: Post-Holiday Fatigue and Inclement Weather Drive Underwhelming January Traffic
All regions posted sales and traffic declines in January compared to the same period last year. The Midwest registered the largest year-over-year decline in traffic of all regions at 17.5%, owing to severe weather conditions. With warmer and wetter conditions, the South experienced the lowest decline, at 5.8%. The Midwest also recorded the largest year-over-year in-store sales decline among all regions, down 16.8%, whereas the West, which enjoyed warmer and drier conditions, reported the smallest decline, down 1.4%.
December 2018 US Retail Sales: Year-Over-Year Growth Slows to Just 1.0% as Most Sectors Experience a Sluggish December
Our measure of core retail sales is non-seasonally-adjusted sales excluding gasoline and automobiles. This metric increased by just 1.0% year over year in December, slowing dramatically from the growth in preceding months, including a 5.2% uplift in November. This resulted in total holiday-period sales coming in at $693 billion, up by just 2.9% year over year.
Taubman Centers (NYSE: TCO) 4Q18 Results: Beats Consensus Estimates, Lowers 2019 Guidance, Announces Sale of Half its Stake in Asia Malls
Taubman Centers revenues down 2.7%, net operating revenue down 2.6%, EPS slides 84.9%. Company to sell 50% of its interests in three Asia shopping centers for $480 million.
For US retail REITs, occupancy rates are improving, vacancies are decreasing and rent asking rates are increasing, but store traffic and other metrics remain negative. REITs are welcoming non-traditional occupants, particularly food. Just 20% of “A” malls generate 72% of all mall sales in the US.
Get ready for better stores and better retailing. We expect 2019 to be a year of reinvention — and not just for the retail sector as a whole, but for physical stores in particular. As we outline over the following pages, we anticipate that the year will be marked by spectacular retail, fast retail and smart retail.
As US retailers report comparable sales for the 2018 holiday season, we’re seeing a mixed bag of results. Some retailers such as Costco and Boot Barn did well, reporting strong comparable sales growth and beating consensus estimates. Retailers such as Target, Barnes & Noble and Buckle showed sequential comparable sales growth improvement, but not as strong. Comparable sales at Macy’s and L Brands weakened sequentially.
Simon Property Group is a self-administered and self-managed real estate investment trust (REIT) that owns, develops and manages premier shopping, dining, entertainment and mixed-use destinations, primarily Simon malls, Premium Outlets, and The Mills. Its US properties alone total 182.3 million square feet of gross leasable area (GLA). As of December 31, 2017, approximately 6.5% of Simon’s consolidated long- lived assets and 2.6% of its consolidated total revenues were generated from assets located outside the United States.