Each of our Sector Overview reports provides an essential briefing on a sector or market. This report focuses on the convenience store sector.
Sainsbury’s (LSE: SBRY) FY19 Results: Improvement in Adjusted Profit Metrics but Comparable Sales Continue to Decline
Sainsbury’s reported FY19 adjusted profits ahead of expectations, but comparable sales continued to slide in the final quarter. Following the company’s abandonment of a merger with rival Asda, management outlined plans to invest in stores and technology.
Casino Group (ENXTPA: CO) 1Q19 Update: Soft France, Strong Latam; Early Progress Toward 2021 Targets
In 1Q19, Casino Group reported flat same-store sales in France, versus expectations of a 0.4% uplift. Casino reported 1Q19 group comparable sales growth of 3.0%, supported by growth in Latin America.
On April 25, 2019, the UK’s Competition and Markets Authority blocked the planned merger of Sainsbury’s and Walmart-owned Asda, which are, respectively, the UK’s second- and third-largest grocery retailers.
Carrefour (ENXTPA: CA) 1Q19 Update: A Stronger-than-Expected Quarter as Performance Improves in France
Carrefour reported 1Q19 group comparable sales of 2.7%, strengthening from 1.9% in the prior quarter and ahead of the consensus estimate of 1.7%. This was supported by a sequential improvement in French comps as the company cut prices.
Younger millennials shop at mass merchandisers, spend on wellness and fitness, and try to buy consciously. Millennials aged 30+ are more likely than their younger peers to look for savings, shop at traditional supermarkets and buy groceries online.
Tesco reported FY19 total sales of £63.9 billion, up 11.0% year over year on a constant-currency basis (increasing 11.2% as reported) and missing the consensus estimate of €64.5 billion recorded by StreetAccount.
Seven & i Holdings (TSE: 3382) FY19 Results: Recovering at Home, Income Grows in Overseas Convenience Stores
Seven & i reported a 14.6% increase in net sales and a 5.1% increase in operating income for FY19. 7-Eleven North America grew net sales by 29.4%, with a 49.3% increase in gasoline sales and a 13.0% increase in merchandise sales.
This report discusses notable US retail bankruptcies in 2017-2018 and examines key factors that led retailers to collapse.
Alimentation Couche-Tard (TSX: ATD.B) Fiscal 3Q19 Results: Revenue Below Consensus, Merchandise and Fuel Drive Growth
Alimentation Couche-Tard reported fiscal 3Q19 revenue of $16.5 billion, slightly below the consensus estimate of $16.8 billion and up 4.6% from 3Q18.
On March 13, 2019, Fung Retailing Group’s convenience-store chain, Circle K, rolled out Hong Kong’s first AI-powered checkout solution using image recognition.
Dufry (SIX: DUFN) FY18 Results: Solid Year Despite Second-Half Headwinds, Company Expects Strengthening of Revenue Growth
Dufry reported 2018 revenues slightly ahead of expectations, with organic growth of 2.7% versus consensus of 2.4%. Gross profit climbed 4.4% resulting in a 40-bps gain in the gross margin.
CASINO (ENXTPA: CO) FY18 Results: Sales In Line with Consensus, Company Aims for Strong Profit Growth
Casino Group reported FY18 net sales of €36.6 billion, up 4.7% year over year at constant currency (down 2.4% year over year as reported), and largely in line with the consensus estimate of €36.69 billion recorded by StreetAccount.
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