Company Earnings UpdateWayfair (NYSE: W) 2Q19 Results: Revenues Beat Consensus Estimates, Losses Continue Coresight Research August 5, 2019 Executive Summary Wayfair reported 2Q19 adjusted EPS of $(1.35), marginally beating the $(1.36) consensus estimate. Revenues were $2.34 billion, up 41.6% and beating the $2.26 billion consensus estimate. US direct retail accounted for 85% of revenues and grew 42.4%. International direct retail accounted for 15% of revenues and grew 40.5%. The company guided for 3Q19 revenues of $2.23–2.28 billion, below the consensus estimate of $2.29 billion. This document was generated for
Company Earnings UpdateClorox (NYSE: CLX) 4Q19 Results: Sales Decline, Pulled Down by the Household Segment Coresight Research August 5, 2019 Executive Summary Clorox reported net sales of $1.6 billion for 4Q19, down 3.8% year over year, missing the consensus estimate of $1.7 billion. Diluted EPS in the quarter increased 13.3% year over year to $1.88 from $1.66, beating the consensus estimate of $1.83. For fiscal year 2019, the company reported sales growth of 1% to $6.2 billion and a 1% increase in diluted EPS to $6.32. This document was generated for
Insight Report30 Global Retail Cities: Toronto Coresight Research August 2, 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 innovative store formats. Click here to view the full 30 Global Retail Cities series. Highlights: Toronto Fashion Week is held every two years and features national and international designers, as well as entertainers and media. Toronto is the most populous city in Canada, with more than 200 ethnicities, over 140 languages spoken and an estimated half of residents born outside Canada. The Leslieville area features a village-like atmosphere and an abundance of antique boutiques, furniture stores, rustic cafes and restaurants. 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 UpdateGildan (NYSE: GIL) 2Q19 Results: Higher Revenue Driven by Activewear, Updates Full Year Guidance Coresight Research August 2, 2019 Executive Summary Adjusted EPS was up 7.7% to $0.56, ahead of the consensus estimates of $0.55. Gross margin was down 50 basis points (bps) to 27.8% due to rising raw materials costs, inflationary pressure on other input costs and unfavorable foreign exchange, partially offset by the positive impact from higher net selling prices and a more favorable product mix. The company reiterated sales guidance of mid-single-digit growth for 2019, and adjusted EPS guidance to $1.95-2.00 from $1.90-2.00. This document was generated for
Company Earnings UpdateThe Macerich Company (NYSE: MAC) 2Q19 Results: Revenue Misses, Revises Guidance Coresight Research August 2, 2019 Executive Summary Macerich reported 2Q19 revenues of $228.0 million, down 2.8% year over year and missing the $229.4 million consensus estimate. Adjusted FFOPS were $0.88, beating the consensus estimate of $0.86. Mall tenant sales per square foot for the 12 months ended June 30 were $776, up 12.1% year over year, and the average rent per square foot was $61.17 as of June 30, up 4.0%. The company lowered its 2019 FFO guidance to $3.50-3.58 from the previous of $3.65-3.73 and raised EPS guidance to $0.42-0.50 from $0.41-0.49 previously. This document was generated for
Company Earnings UpdateUnibail-Rodamco-Westfield (AMS: URW) 1H19 Results: Solid Performance Despite Challenging Retail Environment Coresight Research August 2, 2019 Executive Summary Unibail-Rodamco-Westfield reported 1H19 net rental income (NRI) of €1.25 billion, up 35.9% year over year. Adjusted recurring earnings per stapled share (AREPS) were €6.45, down 1.9%. EPRA net asset value (NAV) per stapled share was €216.10, down 2.6%. Tenant sales in Europe increased 5.3%. Specialty sales productivity per square foot (psf) increased 11.3% in US. Traffic in the UK increased 6.4% in 1H19. For 2019, the company guided for AREPS of €12.10-12.30. This document was generated for
Store TrackerWeekly US and UK Store Openings and Closures Tracker 2019, Week 31: Tractor Supply Company Opens More Stores Coresight Research August 2, 2019 Executive SummaryOur Weekly US and UK Store Openings and Closures Tracker reports on store closures, openings and bankruptcies. 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 3,064 store openings. This compares to 5,864 closures and 3,258 openings for the full year 2018. Year to date, UK retailers have announced 414 store closures and 549 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 UpdateHanesbrands (NYSE: HBI) 2Q19 Results: Champion Drives Double-Digit Activewear Sales Growth Coresight Research August 2, 2019 Executive Summary Hanesbrands reported 2.7% 2Q19 revenue growth, or 5% on a constant-currency basis, driven by US Activewear and Champion sales. Champion sales increased more than 50%, excluding the mass channel and on a constant currency basis Management reiterated guidance for FY19 and issued 3Q19 guidance. This document was generated for
Deep DiveUS Retail Inventory Tracker, 1Q19 Coresight Research August 2, 2019 Executive SummaryIn our quarterly US Retail Inventory Tracker reports, we analyze inventory trends among US retailers the Coresight 100. 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. Specialty retailers such as TJX Companies and Burlington Stores reported increases in inventory year over year due to new store openings. TJX Companies and Dick’s Sporting Goods turned inventory at a slower pace, resulting in higher inventory. Department stores saw inventory decline year over year. However, Macy’s inventory level rose due to slower turnover of its spring products during the quarter. Food and drug retailers and mass merchants grew their inventory levels in line with or above their sales growth. Home and home-improvement retailers saw a significant increase in inventory levels year over year as they stocked up ahead of anticipated seasonal demand. Retailers are also likely carrying higher inventory to offset the tariff impact and support expansion plans. 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
Analyst CornerWEINSWIG’S WEEKLY AUGUST 2 2019 Coresight Research August 2, 2019 Executive Summary This week’s note “From the Desk of Deborah Weinswig” looks at 2019 US back-to-school shopping. Amazon’s ramped-up spending on speedier delivery for Prime customers accelerated second quarter sales – but also crimped profits. Sales soared 20% in the second quarter, but profits came in below expectations. Japanese chat app Line plans to launch an online grocery delivery service in Thailand. Customers use the app to order food and other items to be picked up from sellers and delivered to them. Grant Thornton will step down as Sports Direct auditor after the disclosure of a £605 million ($736 million) tax bill in Belgium that delayed its results announcement. This document was generated for
Insight ReportXcel Brands x Coresight Research Monthly Fashion Trend Report: Top Trends Include Satin Skirts and Utility Dresses Coresight Research August 2, 2019 Executive SummaryThe Xcel Brands x Coresight Research Monthly Fashion Trend Report highlights fashion trends that are just emerging, growing quickly or hitting maturity. The Monthly Fashion Trend Report offers critical insights on evolving trends for designers, planners, retailers, buyers and merchandisers. The trend report is a valuable decision-making tool based on deep quantitative and qualitative analysis using data from Trendalytics. For more data, please see our Monthly Fashion Trend Data Report. Xcel Brands uses quantitative and qualitative data to compile the monthly trend report and create lookbooks which include data from Trendalytics. Satin skirts are a top growing fashion trend, with 41% of satin skirts selling at full price in online marketplaces in June 2019. Satin skirts had the highest rate of online search growth, with an average of 5,914 searches per week, up 124.5% compared to last year, according to Trendalytics data. Utility dresses continue to do well across all price points and continue to attract consumers of all ages, according to social media postings. Utility dresses are showing particular success in the $25-49 price range, with over 31% of retailers pricing tops in this range. 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 UpdateZalando (XTRA: ZAL) 2Q19 Results: EBIT Beat Prompts Narrowing of Guidance Coresight Research August 2, 2019 Executive Summary Zalando grew 2Q19 total sales by one-fifth year over year to €1.6 billion, in line with the consensus estimate. Reversing the prior trend of a rising fulfilment cost ratio, fulfilment costs as a proportion of revenues declined 1 percentage point year over year. Adjusted EBIT of €101.7 million was comfortably ahead of consensus of €97 million. Management narrowed its adjusted EBIT guidance for FY19, to the upper half of the previously indicated €175-225 million range. This document was generated for
Insight ReportFashion Trend Monthly Data Report – July 2019 Coresight Research August 1, 2019 Executive SummaryThe Fashion Trend Monthly Data Report report accompanies the Xcel Brands x Coresight Research Monthly Fashion Trend Report. Together, these reports highlight the fashion trends that are just emerging, growing quickly or hitting maturity. The Monthly Fashion Trend Report offers critical insights on evolving trends for designers, planners, retailers, buyers and merchandisers. The trend report is a valuable decision-making tool based on deep quantitative and qualitative analysis using data from Trendalytics. Xcel Brands uses quantitative and qualitative data to compile the monthly trend report and create lookbooks which include data from Trendalytics. Satin skirts are a top growing fashion trend, with 41% of satin skirts selling at full price in online marketplaces in June 2019. Satin skirts had the highest rate of online search growth, with an average of 5,914 searches per week, up 124.5% compared to last year, according to Trendalytics data. Utility dresses continue to do well across all price points and continue to attract consumers of all ages, according to social media postings. Utility dresses are showing particular success in the $25-49 price range, with over 31% of retailers pricing tops in this range. 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 DiveAI and Price Optimization in Retail Coresight Research August 1, 2019 Executive SummaryPricing has become a key strategic factor in retail, and artificial intelligence (AI) and machine learning are giving retailers new tools to help them more fully and effectively implement price optimization strategies. Here are some of the highlights: Digitalization made price optimization strategies in retail possible, but AI and machine learning are substantially improving the efficacy. Price optimization uses data analytics to formulate desired pricing level and increase the probability of achieving specific objectives, including profit maximization and operational goals. Price optimization can improve retail operations by strengthening inventory management and being able to respond more quickly to market dynamics. For most retailers, the best way to introduce price optimization platforms is through partnerships with third-party data analytics and AI specialists. We expect AI to become more important in price optimization and to be complemented by new technologies that will expand consumer analytics capabilities for retailers. 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 UpdateNext (LSE: NXT) 2Q20 Update: Strong Quarter Prompts Raised Guidance Coresight Research August 1, 2019 Executive Summary Next reported strong 2Q20 full-price product sales growth of 3.7%, compared to 4% growth in the previous quarter and beating the consensus estimate of 0.1% growth recorded by StreetAccount. The retail segment continued to underperform with a 4.2% decline while the online segment posted strong full-price sales growth of 12%. The company lifted FY20 guidance, with retail sales expected to decline 5.1% year over year at mid-point, compared to previous guidance of an 8.5% decline, and online sales to grow 11.8% at mid-point compared to the previous guidance of 11% growth. This document was generated for
