Company Earnings UpdateMacy’s (NYSE: M) 2Q19 Results: Revenues Down, Lowers EPS Guidance, Launches Pilot with ThredUp Coresight Research August 15, 2019 Executive Summary Macy’s fiscal 2Q19 revenues were $5.55 billion, down 0.5% year over year and even with the consensus estimate. The company reported 2Q19 adjusted EPS of $0.28, down 47.2% from the year-ago period and lower than the consensus estimate of $0.46. The company saw comparable sales growth of 0.2% on an owned basis compared to the consensus estimate of 0.4%, and 0.3% on an owned plus licensed basis, even with the consensus estimate. For FY19, management lowered EPS guidance to $2.85-3.05 from $3.05-3.25 and compared to the consensus estimate of $3.05. The company reaffirmed flat net sales growth guidance and said it anticipates comparable sales growth of flat to 1% for owned stores and owned and licensed stores. Please Login to read the full report. Not a member? To access this content for free, register for a free account. This document was generated for
Company Earnings UpdateTencent (HKEX: 0700) 2Q19 Results: Mixed Results, Growth in FinTech and Business Services in Challenging Ad Environment Coresight Research August 15, 2019 Executive Summary Tencent reported 2Q19 revenues of ¥88.82 billion (US$12.9 billion), up 20.6% year over year and below the ¥92.93 billion consensus estimate. Adjusted EPS was ¥2.46 (US$0.35), up 19.1% year over year and beating the ¥2.23 consensus estimate. Combined Weixin and WeChat monthly average users (MAU) were 1.1 billion, up 7.1% year over year and fee-based registered value-added service (VAS) subscriptions were 168.9 million, up 9.7% year over year. The new FinTech and Business services segment reported revenues of ¥22.9 billion (US$3.3 billion), up 37.3% year over year, driven by commercial payments and the cloud business. Please Login to read the full report. Not a member? To access this content for free, register for a free account. This document was generated for
Company Earnings UpdateCanada Goose (NYSE: GOOS) 1Q20 Results: Revenue and EPS Beat Estimates, Reiterates Guidance for FY2020 Coresight Research August 15, 2019 Executive Summary Canada Goose reported adjusted EPS of C$(0.21) for 1Q20, beating the consensus estimate of C$(0.24), and revenue of C$71.1 million, beating the consensus estimate of C$55.1 million. The gross margin was 57.5%, down 650 basis points year over year, reflecting a greater proportion of wholesale revenue. The company reiterated its fiscal 2020 outlook: at least 20% revenue growth and 25% adjusted EPS growth from this year’s C$830.5 million and C$1.36, respectively. Please Login to read the full report. Not a member? To access this content for free, register for a free account. This document was generated for
Company Earnings UpdateCisco (NASDAQ: CSCO) 4Q19 Results: Beats/In Line with Consensus, Security Driving Growth Coresight Research August 15, 2019 Executive Summary Cisco reported fiscal 4Q19 revenues of $13.43 billion, up 4.5% and in line with the consensus estimate. Adjusted EPS was $0.83, beating the consensus estimate by two cents. Security was the fastest-growing segment, growing 14% in the quarter, and Cisco is investing in and extending its subscription-based security innovations across all networking domains, including expanding its family of cloud-security solutions to help secure identity, endpoints and the network. For the fiscal first quarter, Cisco guided for revenue growth of 0-2% and adjusted EPS of $0.80-0.82, below the $0.83 consensus estimate. Please Login to read the full report. Not a member? To access this content for free, register for a free account. This document was generated for
Deep DiveUS Back-to-School 2019: Fashion Trends and Apparel Spending Coresight Research August 14, 2019 Executive SummaryThis is the third report in our US Back-to-School series for 2019. Here, we review fashion trends and apparel spending intentions that will shape demand for clothing and footwear this back-to-school season. Fashion trends this season include patchwork denim, graphic stripes, monochromatic and mixed florals. Activewear and sneakers are popular categories. Some 34% of back-to-school shoppers’ budget is expected to be spent on apparel, for an estimated $261 average per shopper, an increase of 4% year over year. More and more schools are requiring students to wear uniforms, with 26.7% of US parents saying their children will wear uniforms this year. Already a subscriber? Log in You are currently viewing a preview of this report. Please select an access option to view the full report. Hide Options - Show Options + Get unlimited access to all our research with one of our subscription plans. View Subscription Plans or Contact us to purchase this report. Contact us ✕ This document was generated for
Insight ReportNew Retail Briefing: JD.com Prompts Social Gifting on WeChat; Suning Acquires Convenience Stores from Fung Group Coresight Research August 13, 2019 Executive Summary“New Retail” is a model for integrating online retail, offline retail and logistics across a single value chain powered by data and technology. In this biweekly series, we cover important developments in New Retail in China and beyond. Here’s what’s happening: JD.com launched a gifting mini program JD Gift on WeChat to boost social e-commerce. JD.com opened its first services center for luxury goods in Beijing to scale up its servicing capability in the field of high-end products. Suning acquired the Circle K convenience store business in Guangzhou from Hong Kong-listed Fung Group. Already a subscriber? Log in You are currently viewing a preview of this report. Please select an access option to view the full report. Hide Options - Show Options + Get unlimited access to all our research with one of our subscription plans. View Subscription Plans or Contact us to purchase this report. Contact us ✕ This document was generated for
Deep DiveWho Is Winning in US Grocery: Discount Stores or Warehouse Clubs? Coresight Research August 13, 2019 Executive SummaryIn this report, we review how discount formats and warehouse clubs are competing in the US grocery market. Warehouse clubs currently have a lead over discount stores in the online grocery market with a substantial investment in e-commerce and omnichannel capabilities. Discount stores are growing store numbers aggressively. Dollar General focuses on rural areas while both Dollar Tree and Family Dollar, with a combined strength of more than 30,000 stores, focus on urban and suburban areas targeting millennials. International hard discounters such as Aldi are investing to grow, too: Aldi plans to invest $5.3 billion to become the third largest grocer in the US by store count by 2022. Based on our research, discount stores currently have an edge over warehouse clubs in the areas of store openings, reach, operating and gross margin and overall impact on the sector. Already a subscriber? Log in You are currently viewing a preview of this report. Please select an access option to view the full report. Hide Options - Show Options + Get unlimited access to all our research with one of our subscription plans. View Subscription Plans or Contact us to purchase this report. Contact us ✕ This document was generated for
Question of the WeekWhich Are the Most Shopped Discount Apparel Retailers in Germany? Coresight Research August 12, 2019 QUESTION OF THE WEEK: Which Are the Most Shopped Discount Apparel Retailers in Germany? KiK, Takko, Primark and NKD are the most popular discount apparel retailers in Germany, by number of shoppers. Off-pricer T.K. Maxx (known as T.J. Maxx in the US) is the 18th-most-shopped apparel retailer. This document was generated for
Deep DiveRetailTech: In-Store Technology Coresight Research August 12, 2019 Executive SummaryRetail stores are bursting with technology: on the store floor, on the walls and shelves and ceilings, in sales associates’ hands and in the back room. This report outlines several technologies retailers use to communicate with consumers, offering a quicker, smoother, more pleasant and entertaining shopping experience. In 2019, US retailers should spend about $100 billion on capital improvements (stores and equipment), we estimate from US Census Bureau data. Some of the most powerful in-store technology is brought in by consumers — their smartphones — which they use to research products, visualize themselves trying on apparel and even checkout and pay themselves. There is a great deal of interactive technology in stores, such as product displays and magic mirrors, which collect information such as customer movements or emotions, which can then be used to offer personalized experiences and use augmented reality technology to show how a garment looks when tried on. Sensors and cameras inside the store can gather a great deal of data about the shoppers: how many enter the store, the areas they visit, which products they pick up, if they carry them into the fitting room. Facial recognition technology can identify them, though this raises privacy concerns. An army of robots has invaded stores, now greeting, guiding and fetching for customers, as well as taking inventory, mopping the floors, helping on the loading dock and in the warehouse. Already a subscriber? Log in You are currently viewing a preview of this report. Please select an access option to view the full report. Hide Options - Show Options + Get unlimited access to all our research with one of our subscription plans. View Subscription Plans or Contact us to purchase this report. Contact us ✕ This document was generated for
Insight ReportJuly 2019 US Same-Store Sales: Costco Reports Comps Below Consensus Coresight Research August 12, 2019 Executive SummaryCoresight Research’s monthly reports keep you up to date on US and UK retail sales, US retail traffic and in-store metrics, selected US retailers’ same-store sales and key global consumer indicators. Click here to view our full collection of Monthly Reports. Our monthly US Same-Store Sales Report reviews comparable sales metrics reported by Costco, Buckle and Cato. Highlights from our July US Same-Store Sales report: Costco’s global same-store sales growth marginally improved from June, but missed the consensus estimate. Its e-commerce growth accelerated to 21.3% in July, from June’s 15.7%. Buckle posted a decline in same-store sales. Sales declined in both the men’s and women’s segments. Cato’s same-store sales growth rate decelerated from 8% in June to 4% in July. The company stated that July total sales exceeded the company’s expectations but it foresees challenges for the second half of the year. Already a subscriber? Log in You are currently viewing a preview of this report. Please select an access option to view the full report. Hide Options - Show Options + Get unlimited access to all our research with one of our subscription plans. View Subscription Plans or Contact us to purchase this report. Contact us ✕ This document was generated for
Insight ReportThree Months to Singles’ Day: Strategies to Drive Traffic for 11.11 Coresight Research August 12, 2019 Executive SummarySingles’ Day, held annually on November 11, began as a festival of young Chinese people celebrating their pride in being single. Alibaba started promoting the day as a shopping day (now officially called the 11.11 Global Shopping Festival) back in 2009. Only 27 brands participated then, generating total gross merchandise volume (GMV) of $7.8 million. Last year, total GMV on Alibaba’s various platforms hit $30.8 billion, up 27% from the prior year and a huge 252% CAGR over the past nine years. Click here to read more Coresight coverage of Singles Day for the upcoming 2019 shopping event and prior years. In our monthly reports counting down to Singles’ Day, we help retailers prepare for the event. With three months to go, we discuss traffic-driving strategies on Taobao and Tmall. Already a subscriber? Log in You are currently viewing a preview of this report. Please select an access option to view the full report. Hide Options - Show Options + Get unlimited access to all our research with one of our subscription plans. View Subscription Plans or Contact us to purchase this report. Contact us ✕ This document was generated for
Insight ReportAmazon India Engages Consumers with Gamification Coresight Research August 9, 2019 Executive SummaryAmazon is finding new ways to promote its mobile shopping app and drive mobile traffic in India. In this report, we look into the app-only quiz campaigns Amazon runs regularly for its consumers in India. App-only quiz campaigns are part of Amazon’s marketing campaign to promote its mobile app, increase subscribers and drive mobile traffic. With 483 million Internet users in India, about 36% of the population, there is room for growth in mobile app users. Amazon is trying to leverage this opportunity. App-only quiz campaigns can help increase repeat purchases and cross-selling. Already a subscriber? Log in You are currently viewing a preview of this report. Please select an access option to view the full report. Hide Options - Show Options + Get unlimited access to all our research with one of our subscription plans. View Subscription Plans or Contact us to purchase this report. Contact us ✕ This document was generated for
Insight Report30 Global Retail Cities: Geneva Coresight Research August 9, 2019 Executive SummaryWith this series, 30 Global Retail Cities, we profile the world’s major shopping cities – from fashion capitals such as Milan to shopping hubs such as Honolulu and Bermuda. We curated the top retail stores in each city, along with must-see shopping districts, major retail events and innovative store formats. Click here to view the full 30 Global Retail Cities series. These are our highlights from Geneva: Geneva hosts the annual International Exhibition of Inventions, which showcases over a thousand innovations from around the world; companies looking to acquire new technology and investors come to see what the future may look like. Geneva offers high-end shops selling luxury goods, alongside many mainstream retailers offering products at all price points. Geneva also features many innovative retail stores that have handcrafted products such as clothing, accessories and homewares. Already a subscriber? Log in You are currently viewing a preview of this report. Please select an access option to view the full report. Hide Options - Show Options + Get unlimited access to all our research with one of our subscription plans. View Subscription Plans or Contact us to purchase this report. Contact us ✕ This document was generated for
Company Earnings UpdateFarfetch (NYSE: FTCH) 2Q19 Results: Strong Growth Driven by Platform GMV Coresight Research August 9, 2019 Executive Summary Farfetch 2Q19 revenues grew 42.7% to $209.3 million, beating the $199.7 million consensus estimate, as platform GMV expanded 44.3% to $488.5 million. Active users increased 55.7% to 1.8 million. The company reported an adjusted loss of $(0.15) per share, in line with the consensus estimate and versus a $(0.05) per share loss in the year ago quarter. The outlook for 2019 GMV was increased to reflect the New Guards acquisition as well as the prevailing heightened promotional environment for luxury. GMV is projected at $2.1 billion, up about 50%; platform GMV is estimated at $1.91-1.95 billion, a 37-40% gain, and an adjusted EBITDA loss of $(135) to $(145) million for an adjusted EBITDA margin of (15)% to (17)%. Please Login to read the full report. Not a member? To access this content for free, register for a free account. This document was generated for
Deep DiveE-Commerce Opportunities in Southeast Asia: Market Entry 101 Coresight Research August 9, 2019 Executive SummaryIn this report, we outline the scale and potential of retail and e-commerce in Southeast Asia. We discuss the opportunities in e-commerce platforms that brands can leverage, and the strategies brands can adopt to enter the e-commerce market in Southeast Asia. Southeast Asia’s retail sales are forecast to almost double to $1.38 trillion in 2025 from $720 billion in 2018, according to a study by Google and Temasek. E-commerce sales are expected to virtually quadruple to $100 billion by 2025 from $23 billion in 2018, according to Google and Temasek. Southeast Asia’s e-commerce potential lies in many factors that are unique to the region, which include: a GDP growth rate of 5.3% over the next 10 years, a growing middle class, a young population and a high rate of Internet and mobile penetration. Brands can leverage existing e-commerce platforms to break into this market, using strategies such as launching hero products and joining shopping festivals. Already a subscriber? Log in You are currently viewing a preview of this report. Please select an access option to view the full report. Hide Options - Show Options + Get unlimited access to all our research with one of our subscription plans. View Subscription Plans or Contact us to purchase this report. Contact us ✕ This document was generated for
