Insight ReportApril 2019 US Retail Sales: Growth Decelerates in Most Sectors with Major Slowdown in Home Improvement and Clothing Stores Coresight Research May 17, 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 monthly US Retail Sales Report reviews the latest sector data published by the US Census Bureau. Highlights from our April US Retail Sales Report: Total US retail sales excluding gasoline and automobiles increased 5.1% year over year in April, strengthening from the revised 0.9% year-over-year rise in March. A late Easter pulled some spending from March into April. Seasonally adjusted, furniture stores sales declined 3.1% year over in April, compared to a 0.4% decrease in March. The home-improvement and clothing sectors saw sales grew 1.2% and 0.2% in April, respectively, slower than 3.4% and 2.4% growth reported in March. In April, nonstore retailers saw sales rise 9.0% year over year, versus 11.3% in March. 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 20: Party City Shuts Stores Coresight Research May 17, 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 6,378 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
Company Earnings UpdateNVIDIA (NASDAQ: NVDA) 1Q20 Results: Beats Consensus Estimates, Revenues Down Year Over Year but Up Sequentially Coresight Research May 17, 2019 Executive Summary NVIDIA reported fiscal 1Q20 revenues of $2.22 billion, down 30.8% year over year and slightly ahead of the $2.20 billion consensus estimate. Adjusted EPS was $0.88, down 57.0% year over year and beating the $0.57 consensus estimate. Revenues in the company’s core GPU and gaming segments declined year over year but grew sequentially. For fiscal 2Q20, the company guided for revenues of $2.5-2.6 billion, down 17-20% year over year, plus adjusted EPS of $1.07-1.20, above the $0.90 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
Company Earnings UpdateWalmart (NYSE: WMT) 1Q20 Results: Mixed Results, Year on Track Despite Tough Comparison and Currency Headwinds in Q2 Coresight Research May 17, 2019 Executive Summary Walmart reported fiscal 1Q20 revenues of $123.93 billion, up 1.0% year over year and below the $125.28 billion consensus estimate. Adjusted EPS was $1.13, down 0.9% year over year and beating the $1.02 consensus estimate. US comps increased 3.4%, in line with consensus, and US e-commerce sales grew 37%, driven by strength in online grocery, and the home and fashion categories. Management believes the company is well positioned to achieve its full-year goals (adjusted EPS of $4.75–$4.85), though it expects headwinds from weather and currency in Q2. 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 UpdateAlibaba (NYSE: BABA) 4Q19 Results: Strong Revenue Growth Driven by China Retail Marketplaces Coresight Research May 17, 2019 Executive Summary Alibaba reported 4Q19 revenues of ¥93.5 billion ($13.9 billion), up 51% year over year and beating the consensus estimate of ¥91.7 billion ($13.3 billion). Fiscal 2019 revenues were ¥376.8 billion ($56.2 billion), up 51% year over year. The company expects revenue to reach over ¥500 billion for the fiscal year 2020. 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 CoverageFive Insights from Kingfisher’s Innovation Day 2019 Coresight Research May 16, 2019 Executive SummaryThe Coresight Research team attended Kingfisher’s Innovation Day 2019. Here are five insights: A future Kingfisher CEO will have “freedom to maneuver,” but the key will remain to use Kingfisher’s scale to best effect, according to Chairman Andy Cosslett. The future of retail will be polarized between marketplaces and design-led retailers; Kingfisher will be in the latter camp, said CEO Véronique Laury. Under the proposition and product banner GoodHome, Kingfisher will “solve the nightmare” of DIY for consumers. Kingfisher will focus on three store formats, on top of digital channels: Convenience, a new format termed “The Place,” and Screwfix. Kingfisher expects to overhaul large stores to switch the focus from products to projects. On May 15, 2019, European DIY giant Kingfisher hosted an Innovation Day for analysts. The Coresight Research team was in attendance and in this report, we feature five highlights from the 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 UpdateTencent (HKEX: 0700) 1Q19 Results: Beats Consensus on EPS, Announces New Fintech and Business Services Segment Coresight Research May 16, 2019 Executive Summary Tencent reported 1Q19 revenues of ¥85.47 billion (USD 12.4 billion), up 16.2% year over year and below the ¥88.41 billion consensus estimate. Adjusted EPS was ¥2.19 (USD $0.32), up 14.2% year over year and beating the ¥1.99 consensus estimate. Combined Weixin and WeChat monthly average users (MAU) were 1.1 billion, up 6.9% year over year and fee-based registered value-added service (VAS) subscriptions were 165.5 million, up 12.5% year over year. Tencent started disclosing results for a new FinTech and Business services segment, which recorded ¥21.8 billion (USD $3.2 billion), whose revenues grew 44% year over year, driven by commercial payments, other services such as microloan products and the cloud 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
Deep DiveLuxury Differentiation via (Social) Values, Sustainability and Limited-Run Collaborations Coresight Research May 16, 2019 Executive SummaryLuxury brands are employing social values, sustainability and limited-run collaborations to enhance their brand positioning and attract new luxury consumers. These three strategic focuses could provide cultural relevancy for today’s luxury shoppers: Inclusivity, diversity and transparency have emerged as social values that matter to today’s luxury shoppers, especially the younger generation who will become the luxury shoppers of tomorrow. Sustainability in production, design and product life cycle is more than a marketing tactic. New business models, such as resale, recycling and subscriptions for luxury products, are capturing the interest of millennials. In the US, second-hand luxury e-commerce has grown quickly in recent years. Limited runs and collaborations provide traditional luxury brands access to new consumer segments as they unite seemingly disparate brands. Louis Vuitton and Hermès are among the brands using limited runs to raise awareness among new luxury customers. 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 UpdateCisco (NASDAQ: CSCO) 3Q19 Results: Beats Consensus Estimates, Building a New Architecture for Future Technologies Coresight Research May 16, 2019 Executive Summary Cisco reported fiscal 3Q19 revenues of $12.96 billion, up 4.0% and above the $12.89 billion consensus estimate. Adjusted EPS was $0.78, beating the consensus estimate by a penny. Cisco claims to be building the only integrated, secure architecture that can handle the cloud, AI, the Internet of thigs, 5G wireless and Wi-Fi 6,m which will revolutionize how businesses operate and deliver experiences For the fourth quarter, Cisco guided for revenue growth of 4.5%-6.5% and adjusted EPS of $0.80-$0.82, in line with the $0.81 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
Company Earnings UpdateFarfetch (NYSE: FTCH) 1Q19 Results: Strong Growth Driven by Platform GMV Coresight Research May 16, 2019 Executive Summary Farfetch 1Q19 revenues grew 38.6% to $174.1 million, beating the $171.1 million consensus estimate, primarily driven by 43.2% growth in platform services revenue to $141.8 million. GMV rose 43.2% to $419.3 million, driven mainly by an increase of 64.3% in active consumers to 1.7 million. The company reported adjusted EPS of $(0.22), missing the $(0.15) consensus estimate but improving from $(0.18) in the year-ago quarter. Guidance for 2019 includes 41% growth in GMV and an adjusted EBITDA margin of (16-17)%, slightly higher than the 4Q18’s outlook of 40% growth in GMV and an adjusted EBITDA margin of (18-19)%. 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 UpdateMacy’s (NYSE: M) 1Q19 Results: Revenues Down, Comp Sales Up, Beats EPS Estimates, Expanding Backstage to 50 Stores Coresight Research May 16, 2019 Executive Summary Macy’s fiscal 1Q19 revenues were $5.50 billion, down 0.7% year over year and just below the consensus estimate of $5.53 billion. The company reported 1Q19 adjusted EPS of $0.44, down 8.3% from the year-ago period but beating the consensus estimate of $0.33. The company saw comparable sales growth of 0.6% on an owned basis, and 0.7% on an owned plus licensed basis. For FY19, management affirmed its guidance for comparable sales growth of flat to 1% for owned stores and owned and licensed stores. The company expects net sales to be approximately flat, and diluted earnings per share to be $3.05-3.25 compared to consensus of $3.10. 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 ReportInsights from China: China’s Nasdaq-Style Tech Board and Its Implications for Businesses Coresight Research May 16, 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 the business operations and future outlook. This week, we look at China’s new Nasdaq-style tech board on the Shanghai Stock Exchange and the implications for businesses. 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 CoverageWorld Retail Congress 2019: Day 2 Insights Coresight Research May 16, 2019 Executive SummaryThe Coresight Research team is in Amsterdam this week, attending and participating in the 2019 World Retail Congress, running May 14-16. These are some of the highlights from day 2: Coresight Research CEO and Founder Deborah Weinswig moderated a panel discussion on tech with humanity, looking at how retailers can approach the cutting edge of technology to ensures it is customer centric and above all useful. Technology is driving faster, more sustainable supply chains. China’s booming consumer market presents a huge opportunity for retailers, but breaking into the domestic market can be challenging. Localization, key opinion leaders and digitalization are the keys to success. Click here to view highlights from Day 1 and the 3-day recap. 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 ReportKroger and Lindsay Goldberg Announce the Formation of PearlRock Partners Coresight Research May 16, 2019 Executive SummaryOn May 14, 2019, Kroger and Lindsay Goldberg, a private investment firm, announced a collaboration to form an investment vehicle named PearlRock Partners. PearlRock Partners has been created to identify attractive consumer product brands, invest in them and foster their growth. PearlRock Partners’ main focus is to look for emerging consumer brands with strong growth potential. Small and extra-small consumer brands are growing sales at a much faster rate than bigger players. 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: Day 1 Insights Coresight Research May 15, 2019 Executive SummaryThe Coresight Research team is in Amsterdam this week, attending and participating in the 2019 World Retail Congress, May 14-16. These are some of the highlights from day 1: Coresight Research CEO and Founder Deborah Weinswig moderated a lunch session looking into best practices for cross-border retailing – especially in China’s booming domestic market. Purpose is emerging as retail’s North Star: Consumers embrace brands with purpose, but what does it mean? Coresight Research Managing Director of Luxury and Fashion Marie Driscoll hosted a panel on high-end velocity, looking at the shape of new luxury and what luxury brands need to do to keep ahead of changing consumer perceptions. Click here to view highlights from Day 2 and the 3-day recap. 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
