Company Earnings UpdateB&M (LSE: BME) FY19 Results: Surge in Profits, Strong Pace of Store Expansion to Continue Coresight Research May 24, 2019 Executive Summary B&M reported FY19 total sales of £3.49 billion up 15.1% year over year and ahead of the consensus estimate of £3.44 billion recorded by StreetAccount. The company reported diluted EPS of 20.5 pence, up 10.2% year over year, roughly in line with the consensus. For fiscal 2020, B&M has planned to open 50 new B&M banner stores, up from its earlier forecast of 45 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 UpdateBest Buy (NYSE: BBY) 1Q20 Results: Beats Consensus on Comps and EPS, CEO to Change in June, Reiterates 2020 Guidance Coresight Research May 23, 2019 Executive Summary Best Buy reported fiscal 1Q20 Revenues of $9.14 billion, up 0.4% year over year and in line with the consensus estimate. Adjusted EPS was $1.02, up 24.4% year over year and beating the $0.87 consensus estimate. Enterprise comps increased 1.1%, beating the 1.0% consensus estimate. Domestic comps increased 1.3%, while international comps declined 1.2%. The company reiterated FY20 revenue guidance of $42.9-43.9 billion (flat to up 2%) and adjusted EPS of $5.45-5.65 (up 2-6%). 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 UpdateM&S (LSE: MKS) FY19 Results: Changing Faster with Ocado JV and Further Store Closures Coresight Research May 23, 2019 Executive Summary M&S reported FY19 total sales of £10.4 billion, down 3.0% year over year, and roughly in line with the consensus estimate by StreetAccount. The company reported adjusted diluted EPS of 25.4 pence, down 8.6% year over year, beating the consensus estimate of 24.8 pence. For fiscal 2020, the company expects UK food and clothing & home gross margin to change by (25) bps – 25 bps, and expects UK operating costs to decrease about 1%. 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 Report30 Global Retail Cities: Singapore Coresight Research May 23, 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: Singapore is a bustling city-state at the heart of Southeast Asia, a multicultural hub of transport, finance and retail. Singapore’s easy tariff and import regimes have made it a favorite regional shopping destination, as products from around the world are readily available at reasonable prices. Singapore Fashion Week draws local and international talent – both established and up and coming. 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 MAY 24 2019 Coresight Research May 23, 2019 Executive Summary This week’s note “From the Desk of Deborah Weinswig” looks at the changes in luxury as the business seeks to keep up with the fast-shifting consumer landscape. In the US, Walmart announced it will start offering next-day delivery for online orders, reaching 75% of the US by the end of 2019 – nipping at Amazon’s heels, which on April 25 announced plans for one-day delivery for all Amazon Prime members. Britain’s Competition and Markets Authority (CMA) intends to investigate the JD Sports acquisition of smaller rival Footasylum to assess if the deal would significantly reduce competition in the UK market. L’Oréal subsidiary La Roche Posay launched an anti-acne advice app for the China market, working with Alibaba. 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 21: Dressbarn to Close, Adding Almost 700 to US Closures Total Coresight Research May 23, 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. Highlights from this week’s Store Tracker: 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 7,150 store closures and 2,726 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
Insight ReportInsights from China: China’s Economic Growth Slows Coresight Research May 23, 2019 Executive SummaryIn our weekly series Insights from China, we examine issues that affect international brands and retailers in China. We cover areas such as policy, consumer behavior, consumer sentiment, government regulations and the competitive landscape — as they affect business operations and the future outlook. This week, we look at China’s slowing economic growth. 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 ReportApril 2019 US Monthly Retail Traffic and In-Store Metrics Report: Easter Week Boosts Traffic Coresight Research May 23, 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 US Monthly Retail Traffic and In-Store Metrics Report reviews year-over-year changes in selected store-based metrics, including sales, traffic and conversion rates. Highlights from our April Retail Traffic report: US store traffic declined 5.0% year over year in April. The conversion rate advanced 0.1 percentage points, average transaction value (ATV) fell 3.2% and the product return rate was flat year over year. April’s performance varied over the course of the four weeks, with traffic increasing in the second week of the month, with an increase of 3.8%. Traffic declined in week 1 by 4.8%, week 3 by 5.1% and week 4 by 9.4%. The northeast experienced the largest declines in sales and traffic at 3.9% and 7.3%, respectively. The midwest had the smallest declines in sales and traffic at 1.1% and 0.2%, respectively. 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
Flash ReportAscena Retail Group Announces Closure of Dressbarn, Eliminating its Value Fashion Segment Coresight Research May 23, 2019 Executive SummaryOn May 20, 2019, Ascena Retail Group announced the closure of its Dressbarn business. Dressbarn, a value fashion chain, operated 674 stores at the end of 2Q19. Dressbarn stores accounted for 15% of Ascena Retail Group’s total portfolio of 4,486 stores. In May 2019, Ascena Retail Group completed the sale of Maurices, its other value fashion brand, which had 943 stores. The Maurices transaction was valued at $300 million. Coresight Research’s tracks news about store closures, openings and bankruptcies in the US and the UK. Our Weekly Store 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 collection of store trackers. 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 UpdateUrban Outfitters (NYSE: URBN) 1Q19 Results: Revenues Up, Company Launches Nuuly Monthly Subscription Rental Service Coresight Research May 23, 2019 Executive Summary Urban Outfitters reported fiscal 1Q19 revenues of $864.4 million, above the consensus estimate of $854.7 million and up 1.1% year over year. The company reported 1Q19 EPS of $0.31, above the consensus estimate of $0.25 and down 18.4% from the year ago period. Comparable sales increased 1%, compared to the consensus estimate of (1.1)% driven by double-digit growth in digital and partially offset by negative retail store sales growth. The company did not provide a financial outlook. 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 UpdateTarget (NYSE: TGT): 1Q19 Results Beat Consensus Estimates, 4.8% Comps and 42% E-Commerce Growth, Reiterates 2019 Guidance Coresight Research May 23, 2019 Executive Summary Target reported 1Q19 total revenues of $17.63 billion, up 5.0% and beating the $17.46 billion consensus estimate. Adjusted EPS was $1.53, beating consensus by a dime. Comps grew 4.8%, beating consensus of 4.1%. Digital sales growth accelerated to 42%, on top of 28% in the year-ago quarter. Target reiterated its 2019 guidance of a low-to-mid single digit increase in comps, a mid-single-digit increase in operating income and EPS of $5.75-6.05 (up 7-12%). 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: From Immersive Technologies to Robotics Coresight Research May 23, 2019 Executive SummaryThis report is the first in our weekly Supply Chain Briefing series focusing on how technology is transforming the various stages in the retail supply chain, including product design, demand forecasting, manufacturing, logistics, warehousing, last-mile delivery and sales. 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 CoverageICSC RECon 2019: Day 3 Insights Coresight Research May 22, 2019 Executive SummaryThe Coresight Research team is in Las Vegas this week, attending and participating in the International Council of Shopping Centers (ICSC) 2019 RECon event, running May 19-22. We continue to see the gamification of retail, as consumers respond more positively to interactive experiences. We heard a lot more conversation about partnerships – and for the first time we’ve heard landlords and retailers talking about teaming up with competitors. AI is transforming retail in so many areas, from logistics to demand forecasting. You may also be interested in our coverage from Day 1 and Day 2 of the RECon event. 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 UpdatePinduoduo (NASDAQ: PDD) 1Q19 Results: Online Marketing Services Boost Revenues, Operating Margin Impacted by Soaring Costs Coresight Research May 22, 2019 Executive Summary Pinduoduo reported 1Q19 revenues of ¥4.5 billion, up 228% year over year and beating the consensus estimate of ¥4.1 billion. Operating expenses continued rising with operating margin worsening to (46.7)%. There were 443.3 million active buyers on Pinduoduo’s platforms for the 12 months ended March 31, 2019, up 50% year over 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
Market Navigators/Market OutlookSector Overview: Convenience Stores — Technology Adding Greater Convenience Coresight Research May 22, 2019 Executive SummaryEach of our Sector Overview reports provides an essential briefing on a sector or market. This report focuses on the convenience store sector. Convenience stores are adapting to consumers who live in an increasingly digitalized world and who demand high-quality offerings and more convenience. Incumbent retailers are responding by bringing more convenience to stores, including through unstaffed stores, delivery and omnichannel fulfillment, and digitalization. The sector as a whole is seeing modest growth, while top players continue to capture sizable market shares. We expect to see further consolidation through M&A. Globally, there is a great deal of economic and political uncertainty. Trade tensions, Brexit and currency risks will continue to weigh on consumer sentiment and spending. 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
