Analyst CornerWEINSWIG’S WEEKLY MAY 31 2019 Coresight Research May 31, 2019 Executive Summary This week’s note “From the Desk of Deborah Weinswig” looks at Lidl’s plans to expand in the US grocery market – breaking from traditional big to small-format stores. US retail sales unexpectedly fell in April as households cut back on purchases of motor vehicles and a range of other goods, pointing to a slowdown in economic growth after a temporary boost in the first quarter. In the UK, Walgreens Boots Alliance (WBA) is reportedly mulling closing over 200 stores in the next two years – which would equal a little under 10% of the group’s UK health and beauty stores. Chinese toy retailer Kidsland has opened US toy retailer FAO Schwarz’s first Asian store in Beijing. FAO Schwarz plans to open one large and several medium-sized stores in China in the next two years. 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
Event CoverageWorld Retail Congress 2019 Wrap-Up Coresight Research May 31, 2019 Executive SummaryThe Coresight Research team attended and participated in the 2019 World Retail Congress in Amsterdam, May 14-16. These are some of our highlights from the event: On the final day, Nike was named Retailer of the Year, a summation of what it takes to be a retailer today: spectacular retail and brand execution at every consumer touchpoint, clear brand positioning and strong consumer relationships. Purpose is emerging as retail’s North Star: Consumers embrace brands with purpose. Luxury in 2019 is capturing young consumers with beauty, wellness and exclusivity in the form of “drops,” creating a sense of exclusivity while remaining inclusive. New Retail was invented in China but is coming to the West in what we call the “Alibabafication” of retail. Click here to view highlights from Day 1 and Day 2. 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 UpdateCapri Holdings (NYSE: CPRI) 4Q19 Results: Strong Revenue Growth Driven by Versace and Jimmy Choo Coresight Research May 31, 2019 Executive Summary Capri Holdings reported 4Q19 adjusted EPS of $0.63, slightly above the $0.61 consensus estimate. 4Q revenues increased 13.6% to $1.34 billion on a reported basis, driven by strong sales in Versace (acquired on December 31, 2018) and Jimmy Choo, and exceeding the $1.33 billion estimate. By brand, Michael Kors revenues declined 0.4% to $1.07 billion; Jimmy Choo revenues rose 28.7% to $139 million; and, Versace revenues were $137 million. For FY20, the company expects net revenues to reach $6.0 billion with an operating margin of around 15.5%. The company forecasts 1Q20 revenues of around $1.36 billion. 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
Store TrackerWeekly US and UK Store Openings and Closures Tracker 2019, Week 22: Cato Announces Closures Coresight Research May 31, 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 7,215 store closures and 2,784 store openings. This compares to 5,864 closures and 3,239 openings for the full year 2018. Year to date, UK retailers have announced 325 store closures and 368 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 UpdatePVH (NYSE: PVH) 1Q19 Results: Revenue Misses, US Comps Decline as Tariffs and International Tourism Impact Demand Coresight Research May 31, 2019 Executive Summary PVH 1Q19 revenues grew 2.2% to $2.36 billion, missing the consensus estimate of $2.37 billion. Adjusted 1Q19 EPS rose 4.2% to $2.46 versus $2.36 in the same period last year and the $2.45 consensus estimate. Comps in North America declined 4% for Tommy Hilfiger, Calvin Klein fell 5% and Heritage Brands slid 6%. The company adjusted its outlook for 2019, lowering revenue growth from 4% to 3% and non-GAAP EPS to the range of $10.20-10.30 from previous $10.30-10.40 on expected currency volatility. 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 UpdateUlta (NASDAQ: ULTA) 1Q19 Results: Mixed Results, Plans to Open 80 New Stores This Year Coresight Research May 31, 2019 Executive Summary Ulta reported fiscal 1Q19 revenues of $1.74 billion, up 12.9% year over year and below the consensus estimate of $1.75 billion. The company’s earnings per share (EPS) was $3.26, up 7% from the year-ago period. The company’s EPS included a $0.18 benefit due to income tax accounting for share-based compensation. The company saw comparable store sales growth of 7.0%, roughly in line with the consensus estimate of 7.1% but lower than the increase of 8.1% in same period last year. For the full fiscal year, Ulta plans to open approximately 80 new stores, remodel or relocate 20, and complete approximately 270 store refreshes. The company expects to deliver diluted earnings per share in the range of $12.83 to $13.03 compared to the $12.90 consensus. To view more research related to Ulta Beauty, click here. 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 UpdateBurlington Stores (NYSE: BURL) 1Q19 Results: Mixed Results, Lowers Guidance, Home and Beauty Categories Present the Largest Growth Opportunities Coresight Research May 31, 2019 Executive Summary Burlington Stores reported fiscal 1Q19 revenues of $1.63 billion, up 7.3% year over year and beating the consensus estimate of $1.62 billion. The company’s earnings per share (EPS) were $1.26, even with the year ago period and above the consensus estimate of $1.25. The company saw comparable store sales growth of 0.1%, lower than the consensus estimate of 0.6%, and just within the company’s guidance of flat to 2.0%. For 2Q19, Burlington Stores expects to report EPS of$1.11-1.15, in line with the consensus estimate of $1.13. The company expects revenue growth of 8-9% which is in line with the consensus estimate of 8.8% growth. For the fiscal year 2020, Burlington Stores lowered its EPS guidance to $6.93-7.01 versus prior EPS guidance of $6.93-7.06 and compared to the consensus estimate of $6.97. To view more research related to Burlington Stores, click here. 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 ReportUS-China Trade Issues: A Timeline Coresight Research May 31, 2019 Executive SummaryThe trade dispute between the US and China has been going on for over a year. In this report, we summarize the timeline of how it progressed and its recent escalation. In 2018, the trade dispute fluctuated: in May, it showed a hint of truce but then worsened in June with the US announcing new tariffs on 818 categories of goods from China, and China responding with tariffs on 545 categories of US imports. In late 2018, there was a 90-day truce, but that fell apart and in early 2019 unsuccessful negotiations triggered an escalation. In May 2019, the US increased tariffs on $200 billion worth of Chinese goods from 10% to 25% and China responded by increasing tariffs on $60 billion worth of US goods effective June 1. Now, more than 2,000 items have been affected by China’s tariffs, including beef, lamb, pork, vegetables, seasoning, juice, cooking oil, tea, coffee, refrigerators, textiles, furniture and technology. 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
Event CoverageCoresight Research Teams Up with Goodwill for Event to Raise Funds, Awareness of New Retail Concept Coresight Research May 31, 2019 Executive SummaryCoresight Research CEO and Founder Deborah Weinswig was one of three guests honored to be invited to a fund-raising event in New York City hosted by Goodwill Industries of Greater New York and Northern New Jersey (Goodwill NYNJ). These are some highlights: Consumers have said they want brands and retailers to have purpose: Goodwill is a purpose with a retail operation to support it. Goodwill NYNJ is tapping into the growing trend for thrifting by innovating its retail experience and leveraging the growing desire for brands with purpose. Goodwill NYNJ has launched pop-ups featuring curated collections and partnered with shopping app Price to link to items in its shops. 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 ReportIsrael Retail-Tech Innovator Landscape Coresight Research May 31, 2019 Executive SummaryIsrael’s retail-tech sector is growing and quickly becoming one of the hottest and most innovative ecosystems for retail technologies, with startups offering solutions from supply chain logistics to the in-store experience. Coresight Research and the Retail Innovation Club have partnered to create the Israel Retail-Tech Innovator Landscape, featuring 120 of the most forward-looking, promising Israeli retail technology companies. The companies we’ve captured here focus on retail solutions at every step of the retail value chain. To view more of our Innovator Landscapes spotlighting innovative retail-tech start-ups that are disrupting the retail industry, click here. We curated select companies that are already established and generating revenue, many of which have raised over $25 million in funding. The landscape is broken down into four segments and 27 categories: Logistics: Supply Chain, Cross Border Shipping, Delivery Platforms, Warehousing and Fulfillment, and Drone Delivery. In-Store Technology: Mixed Reality, Digital Signage, Inventory and Stock Management, Shelf Monitoring, Engagement and Loyalty Solutions, Operations Management, Indoor Navigation, Self-Checkout, and Smart Tags and Sensors. Online Shopping: Voice Search and Virtual Assistants, Visual Search, AR Tools: 2D and 3D Imagining, Payments, Marketing Platforms, Cyber Security and Fraud Prevention, Recommendation, and Content Marketing and Creation. BI – Analytics: Location Data, Visitor Monitoring and Facial Recognition, Pricing, Product and Market Analytics, and Consumer Research. Please feel free to Contact Us! About: Coresight Research is a research and advisory firm specializing in disruptive technologies reshaping today’s retail landscape. Coresight Research has a global presence spanning the US, Europe and Asia, including deep expertise in the fast-changing China market. Our core offerings are subscription memberships, innovator intelligence, strategic advisory, data dashboards and events. The Retail Innovation Club was founded as a nonprofit organization by Israel’s leading retail and shopping centers groups, with a mission to connect Israel’s retail tech ecosystem to the global markets and bridge the technological gap that exists between the retail industry and the retail tech startups. This document was generated for
Flash ReportByteDance Reportedly Developing Its Own Smartphones Coresight Research May 30, 2019 Executive Summary Beijing-based ByteDance is breaking into the smartphone market, according to the Financial Times. ByteDance is the parent company of popular video app TikTok. This move represents a bold move for ByteDance as the company will be entering a crowded space with established players – and one unrelated to its core social network app 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
Insight ReportSupply Chain Series: Reality Technology Streamlines Product Design and Improves Servicing Coresight Research May 30, 2019 Executive SummaryThis report discusses reality technology, also defined as immersive technology, an emerging technology used in supply chains across a variety of industries. These are some key facts around this emerging technology: 23% of companies said they plan to invest in augmented reality (AR) and virtual reality (VR) in 2018, compared with just 8% in 2017, according to Kenko. Brands from different industries use reality technology to speed product development and minimize errors during production. Examples of reality technology include Ford’s use of AR technology and General Electric and Walmart’s use of VR programs. To view more research related to supply chain, click here. 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 UpdateRoss Stores (NasdaqGS: ROST) 1Q19 Results: Beats Consensus, Men’s Category Performs Well While Ladies Apparel Underperforms Coresight Research May 30, 2019 Executive Summary Ross Stores 1Q19 revenues were $3.79 billion, even with the consensus estimate and up 5.8% year over year. The company reported 1Q19 adjusted EPS of $1.15, higher than the consensus estimate of $1.12 and up from the year ago period. Comparable sales were up 2%, at the high end of company guidance of flat to 2%. The company raised its 2019 full year EPS guidance to $4.38-4.52, up from and compared to the consensus estimate of $4.52. The company expects its second quarter EPS to be $1.06-1.11, up from $1.04 in the prior year and compared to the consensus estimate of $1.14. To view more research related to Ross Stores, click here. 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 UpdateThe TJX Companies (NYSE: TJX) 1Q20 Results: Company Beats Expectations and Raises Full-Year Guidance Coresight Research May 30, 2019 Executive Summary TJX Cos. reported fiscal 1Q20 revenues of $9.28 billion, up 6.8% year over year and beating the consensus estimate of $9.22 billion. The company’s earnings per share (EPS) grew 1.8% year over year to $0.57, exceeding the high end of its guidance range of $0.53-0.54 and ahead of the consensus estimate of $0.55. The company saw comparable store sales growth of 5.0%, versus a 3.0% increase in the same period last year and beating the consensus estimate of a 3.6% increase. For 2Q20, TJX Cos. forecasts EPS of $0.61-0.62, an increase of 5-7% and in line with the consensus estimate of $0.62. For the fiscal year 2020, TJX Cos. raised its guidance and now expects EPS of $2.56-2.61 versus prior guidance of $2.55-2.60 and compared with the consensus estimate of $2.61. To view more research related to The TJX Companies, click here. 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 UpdateDick’s (NYSE: DKS): 1Q19 Results: Revenues Up, Beats Consensus, Replacing Hunt Category in 125 Stores Coresight Research May 30, 2019 Executive Summary Dick’s reported fiscal 1Q19 revenues of $1.92 billion, beating the consensus estimate of $1.90 billion, and up 0.6% year over year. The company reported 1Q19 earnings per share of $0.62, higher than the consensus estimate of $0.58 and higher than the year-ago period. Consolidated same-store sales were flat for the quarter compared to the consensus estimate of (1.3%). The company raised its fiscal year 2019 EPS guidance to $3.20-3.40 compared to prior guidance of $3.15-3.35 and the consensus estimate of $3.27. The company projects consolidated comps to be slightly positive to up 2%, the in line with prior guidance of flat to up 2% and the consensus estimate of 0.7%. Dicks expects to deliver positive same-store sales beginning in 2Q19. To view more research related to Dick’s Sporting Goods, click here. 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
