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.
Total US retail sales excluding gasoline and automobiles increased 4.7% year over year in August, versus the5.6% year-over-year rise in July.
HBC reported 2Q19 revenues of C$1.85 billion, down 0.5% year over year and below consensus. The company reported adjusted 2Q19 EBITDA of C$52 million, down 50.9% from the year-ago period.
Apparel rental upstart Le Tote to acquire century-old Lord + Taylor in what could be a growing trend of online disruptors moving into more traditional spaces.
Driven by advancements in digital channels, digitally native retailers are adapting to consumer preferences - but are also opening brick-and-mortar stores.
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.
