Company Earnings UpdateColgate-Palmolive (NYSE: CL) 2Q19 Results: Net Sales and Diluted EPS Decline Coresight Research July 30, 2019 Executive Summary Colgate-Palmolive reported net sales of $3.87 billion, down 0.5% year over year for the three months ended June 30, 2019. Organic sales were up 4.0% year over year. The Africa/Eurasia segment saw strong organic sales growth, increasing 9.5% year over year. However, the Asia Pacific segment underperformed, with a 1.0% decrease in organic sales year over year. The Hill’s Pet Nutrition segment also saw strong organic sales growth, increasing 6.0% year over year. This document was generated for
Event CoverageInsights from Cosmoprof North America 2019 Day 1: “All Beauty Brands will be Clean Beauty Brands in the Future” Coresight Research July 29, 2019 Executive SummaryThe Coresight Research team is in Las Vegas this week attending Cosmoprof North America 2019. Here are a few key insights from day one of the important beauty industry event: Beauty with a conscience is driving innovation across all categories. Vegan beauty is growing, driven by millennials with over 25% of American millennials claim that they are vegan or vegetarian. All brands will be “clean” beauty brands in the future, but the industry still needs major commercial brands in the middle to bridge the gap for consumers. This document was generated for
Deep DiveUS Back to School 2019: Retail Outlook Coresight Research July 29, 2019 Executive SummaryIn our first report in our US Back-to-School series for 2019, we provide an outlook for US retail this back-to-school season. We expect to see 2.0-2.5% year-over-year growth in nonfood retailer sales from July to September (the back-to-school shopping period) this year, a significant slowdown from last year’s 4.4%. Consumers are interested in good deals, making discount stores the second most popular destination for back-to-school shopping, behind department stores. Apparel is the biggest category for back-to-school shoppers, and electronics is the biggest for back-to-college. 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 UpdateIntel (NASDAQ: INTC) 2Q19 Results: Misses on Revenues but Raises Annual Guidance, Plans to Sell 5G Modem Business Coresight Research July 29, 2019 Executive Summary Intel reported 2Q19 revenues of $16.51 billion, down 2.7% year over year and slightly below the consensus estimate. Adjusted EPS was $0.89, up 1.8% and in line with consensus. PC-centric revenue grew 1.3%, more than offset by data-centric revenue, which declined 6.9%. Revenue from Mobileye grew 16.2%. Separately, Intel announced an agreement to sell its 5G smartphone modem business to Apple for $1 billion. Intel raised its 2019 revenue forecast slightly by $500 million to $69.5 billion and guided for Q3 revenues and EPS above consensus estimates. This document was generated for
Company Earnings UpdateKering (ENXTPA: KER) 1H19 Results: Double-Digit Sales and Earnings Gains Driven by Gucci Coresight Research July 29, 2019 Executive Summary Kering reported 1H19 revenues of €7.64 billion, up 18.8% year over year. Gucci reported a 19.8% increase in revenue to €4.62 billion, Saint Laurent reported a 20.4% increase in sales to €973.0 million. Bottega Veneta lagged with a 0.6% revenue decline. Kering will continue to work on its strategy to achieve same-store revenue growth and develop its cross-business growth platforms. This document was generated for
Company Earnings UpdateLVMH (ENXTPA: MC) 1H19 Results: Strong Sales Propelled by Fashion & Leather Goods, and Asia Region Coresight Research July 29, 2019 Executive Summary LVMH reported 15% 1H19 sales growth propelled by its fashion and leather goods business, which grew sales 21%. Asia, which represented 33% of 1H19 sales, expanded 18% over 1H18. EPS rose 8.7% to €6.48 This document was generated for
Flash ReportTencent and the Pokémon Co to Collaborate on New Games Coresight Research July 29, 2019 Executive SummaryTencent and the Pokémon Company announced they will collaborate on new games. The announcement released on Weibo did not specify for which platform the two companies are developing the games; however, Tencent’s platform is the likely one due to its huge presence in mobile and PC games in China. Tencent and Nintendo, which owns a stake in the Pokémon Company, will hold a press event on August 2 in Shanghai at which they are expected to announce the launch of the Nintendo Switch Game System in China. Tencent is a leading mobile game company offering Honour of Kings, Game of Peace (formerly called PUBG Mobile), Crossfire and League of Legends. This document was generated for
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). 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. 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. 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. 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. This document was generated for
