Company Earnings UpdateTaubman Centers (NYSE: TCO) 2Q19 Results: FFO Misses Consensus, Lowers Guidance Coresight Research July 29, 2019 Executive Summary Taubman Centers reported 2Q19 revenues of $161.6 million, up 5.8% year over year and beating the $159.7 million consensus estimate. FFO was $0.78 per share, missing the $0.83 consensus estimate. Comparable center mall tenant sales per square foot in US were up 8.8% in the quarter and average rent per square foot in comparable centers increased 2.1% to $56.79. To account for The Gardens Mall acquisition, Taubman reduced 2019 EPS guidance to $0.60-0.80 (from $0.68-0.92 previously) and FFOPS to $3.47-3.57 (from $3.60-3.72 previously). 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 UpdateTractor Supply Company (NASDAQ: TSCO) 2Q19 Results: Comps Beat Consensus Estimates, Revenues in Line; Guidance Raised Coresight Research July 29, 2019 Executive Summary Tractor Supply reported 2Q19 EPS of $1.80, up 6.5% but marginally missing the $1.81 consensus estimate recorded by StreetAccount. Revenues were $2.35 billion, up 6.3% and in line with the consensus estimate. Comps were 3.2%, marginally beating the 3.1% consensus estimate, comprising a 2.2% increase in average ticket and a 1.0% increase in transaction count. The company raised its guidance for 2019 revenues of $8.40-8.46 billion, in line with the $8.45 billion consensus estimate, for comps of 3-4% and EPS of $4.65-4.75, in line with the consensus estimate of $4.75. 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 UpdateAmazon.com (NASDQ: AMZN) 2Q19 Results: 20% Increase in Sales Driven by AWS Growth Coresight Research July 29, 2019 Executive Summary Amazon.com reported 2Q19 revenues of $63.4 billion, up 19.8% year over year and in line with the consensus estimate of $59.5 billion to $63.5 billion. EPS was $5.22, up 3.0% year over year and below the $5.56 consensus estimate. Amazon Web Services (AWS) was the fastest-growing segment by far, growing 37.3% to $8.4 billion. Amazon net sales in the North America segment increased 20.2% to $38.7 billion, and the international segment increased 20.0% to $16.4 billion. The company guided for 3Q19 revenues of $66.0-70.0 billion (up 17-24% year over year), in line with the consensus estimate, and operating income of $2.1-3.1 billion, below the $3.7 billion 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
Insight ReportJune 2019 Monthly Consumer Update: US, UK and China Coresight Research July 26, 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. Each month, we analyze key metrics that reflect consumer demand in the US, the UK and China. In these updates, we focus on direct, leading indicators of the health of the consumer economy: wage growth, price changes and retail sales growth. In June: US inflation softened a little, while wage growth remained unchanged. Retail sales growth weakened. UK retail sales growth strengthened, following an acceleration in wage growth. China retail sales growth spiked to 9.8%, but inflation was high in food. 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: Stockholm Coresight Research July 26, 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 have 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. Highlights from Stockholm: As the cultural, media, political and economic center of Sweden featuring many heritage sites, Stockholm was named the European Capital of Culture in 1998. Drottninggatan is the longest shopping street in Sweden. The street is home to many gift shops, restaurants and cafés, and hosts one of the most popular department stores in Stockholm, Ahlens City. Located in an old paint factory, Fragfabriken is an innovative exhibition space that serves as a platform for contemporary cultural expressions with an emphasis on art, architecture and urban development. 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
Store TrackerWeekly US and UK Store Openings and Closures Tracker 2019, Week 30: GNC Set to Close More Stores Coresight Research July 26, 2019 Executive SummaryCoresight Research tracks news about store closures, openings and bankruptcies. Our Weekly US and UK Store Openings and Closures Tracker focuses on department stores and specialty retail stores, including, but not limited to, those selling softlines, hardlines, consumer electronics, groceries and furniture. Click here to view our full collection of Weekly US and UK Store Trackers. 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. So far this year, US retailers have announced 7,567 store closures and 3,055 store openings. This compares to 5,864 closures and 3,258 openings for the full year 2018. Year to date, UK retailers have announced 408 store closures and 480 store openings. 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 UpdateCasino Group (ENXTPA: CO) 1H19 Results: Losses Deepen Due to Seasonality of Tax Credits and Higher Operating Expenses Coresight Research July 26, 2019 Executive Summary Casino Group reported 1H19 net sales of €17.84 billion, up 3.5% year over year at constant currency (up 0.3% year over year as reported) and missing the consensus estimate of €17.93 billion by StreetAccount. The company reported a net loss from continuing operations attributable to the company’s shareholders of €226 million compared to a net loss of €68 million in the same period last year, and missing the consensus net profit estimate of $26 million. Casino Group hopes to grow trading profit by 10% for the current fiscal year and raised its cost savings target to €130 million in France for the current fiscal year from its earlier target of €100 million. 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 UpdateCarrefour (ENXTPA: CA) 1H19 Results: Adjusted Operating Income Nudges Up; Second-Quarter Comp Sales Beat Expectations Coresight Research July 26, 2019 Executive Summary Adjusted for €593 million of exceptional costs, Carrefour reported a 2.7% increase in operating income in 1H19. Carrefour reported consensus-beating comparable sales growth in 2Q19. Growth in most regions improved sequentially, though 2Q19 comp growth slowed a little in its core French market. The company launched several price campaigns and extended its e-commerce capabilities in 1H19. It also agreed to sell 80% of Carrefour China to Suning.com. 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 UpdateUnilever (LSE: ULVR) 1H19 Results: Beauty and Personal Care, Home Care Segment Shine; Food and Refreshment Sales Decline; FY19 Sales Guidance Unchanged Coresight Research July 26, 2019 Executive Summary Unilever reported revenue of €26.13 billion, slightly above the consensus of €26.06 billion and down 0.9% year over year. The beauty and personal care and home care segments showed positive growth, while food and refreshment sales declined. The company expects FY19 organic sales to be in the lower end of the 3-5% growth range. 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 UpdateDiebold Nixdorf (NYSE: DBD) 2Q19 Results: Surprise Adjusted Profit, Raises Revenue Guidance Based on Solid Transformation Progress Coresight Research July 26, 2019 Executive Summary Diebold Nixdorf reported 2Q19 revenues of $1.15 billion, up 4.0% as reported, up 8.0% in constant currency and beating the $1.07 billion consensus estimate. Adjusted EPS was $0.06, above $(0.22) in the year-ago quarter and beating the $(0.15) consensus estimate. Revenue in the company’s Americas banking segment grew 13.3% year over year, driven by a 55.1% increase in product revenue. Revenue from retail products grew 5.3%. The company raised 2019 revenue guidance to $4.5 billion (down 2% over the same period last year) from $4.4-4.5 billion and reiterated adjusted EBITDA guidance of $380-420 million (up 15-27% over the same period last year). 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
Flash ReportSalesforce to Partner with Alibaba to Offer Its CRM Platform in China Coresight Research July 26, 2019 Executive SummaryOn July 24, 2019, Salesforce announced a strategic partnership with Alibaba. Alibaba will become the exclusive provider of Salesforce to customers in Mainland China, Hong Kong, Macau and Taiwan. Salesforce will also become the exclusive enterprise CRM product suite sold by Alibaba. The agreement encompasses Salesforce’s CRM platform, including Sales Cloud, Service Cloud, Commerce Cloud, and Salesforce Platform for customers in mainland China, Hong Kong, Macau and Taiwan. The agreement notably does not cover Salesforce’s Marketing Cloud. Salesforce’s offerings will run on the Alibaba Cloud service platform. Salesforce commented that Alibaba’s advanced, secure infrastructure and knowledge of these markets will empower its global customers with a solution that meets local business needs. China tech giants Baidu and Tencent offer their own CRM platforms. 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 UpdateAlphabet (NASDAQ: GOOGL) 2Q19 Results: Beats Consensus Estimates as Growth Accelerates Coresight Research July 26, 2019 Executive Summary Alphabet (the parent company of Google) reported 2Q19 revenues of $38.94 billion, up 19.3% year over year and above the $38.15 billion consensus estimate. Adjusted EPS was $14.21, up 20.9% year over year and beating the $11.10 consensus estimate. Mobile search, YouTube and Cloud were the key growth drivers in the quarter. Google did not offer guidance but mentioned currency headwinds, ongoing strength from applying machine learnings on its sites, strength in cloud and a positive reception for its Pixel 3a smartphone. 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
Analyst CornerWEINSWIG’S WEEKLY JULY 26 2019 Coresight Research July 26, 2019 Executive Summary This week’s note “From the Desk of Deborah Weinswig” looks at Alibaba’s move into the US B2B market. GNC announced it will close 700-900 stores, mostly in malls, where around 28% of its stores are located. The supplements retailer reported US and Canada second quarter revenues fell 8% as same-store sales slid 4.6%. German fashion retailer Gerry Weber will close all its UK stores by the end of October. The announcement comes as part of its parent company’s restructuring plan initiated in January. Ikea plans to start selling in Mumbai, its second location in India in less than a year. Ikea will first offer online sales in Mumbai and later open small stores, pick up centers and customer service centers across the city, to be followed by increased online offerings. 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 DiveCasualization Drives Growth in the US Menswear Market Coresight Research July 25, 2019 Executive SummaryIn this report, we analyze the US men’s clothing market. Growth in the $88.8 billion US menswear market is being driven by demand for more casual apparel items. Reflecting this, suits are expected to be the slowest-growing of all menswear categories over the five years from 2018. Athletic menswear brands are taking market share from traditional menswear brands. The top three athletic brands, Nike, Adidas and Under Armour, gained a combined 2.0% market share over five years while traditional retailers Ralph Lauren and Levi’s lost a combined 1.7%. Demand for denim is growing and the category is expected to grow to $9.0 billion by 2023, to the benefit of both new and traditional players. Levi’s is overwhelmingly the top menswear denim brand, holding around one-quarter of the market in 2018. Premium activewear brands are trying to move into the “white space” in a menswear market that remains underserved for high-quality performance brands focused on functionality, materials, quality and connecting with consumers. Younger streetwear enthusiasts spend five times more per month for streetwear over non-streetwear. Consumers value exclusivity, community and status. 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 UpdateVF Corp (NYSE: VFC) 1Q20 Results: Revenue and EPS Growth Boosts Guidance for FY20 Coresight Research July 25, 2019 Executive Summary Total revenues were $2.27 billion, up 6% year over year (9% at constant currency), ahead of the consensus estimate. Adjusted EPS increased 61% to $0.30, beating the $0.29 consensus estimate. Adjusted gross margin expanded 120 bps to 54.4%. The company adjusted its outlook for 2020 to revenue growth of 6% to $11.8 billion and adjusted EPS growth of 15-17% to $3.32-3.37. 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
