Company Earnings UpdateAdidas (DB: ADS) 1Q19 Results: Double-Digit Growth in Asia Pacific and 16% in China Drive Operating Margin Expansion Coresight Research May 7, 2019 Executive Summary Adidas reported 4% currency-neutral 1Q19 revenue growth driven by 5.3% growth in the Adidas brand. As reported, revenues rose 6.1% to €5.88 billion. Asia Pacific sales grew 12% on a currency-neutral basis, driven by the strong 16% pace set in greater China. Emerging markets and Russia/CIS also achieved double-digit currency neutral growth, 10% and 22%, respectively. Despite the expectation of continued supply chain constraints through Q4, management reiterated FY19 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 ReportNew Retail Briefing #9: Taobao Opens Taostyle for Online Clothing Brands; JD.com Seeks Fresh Food Partnerships in Southeast Asia Coresight Research May 7, 2019 Executive Summary“New Retail” is a model for integrating online retail, offline retail and logistics across a single value chain powered by data and technology. In this biweekly series, we cover important developments in New Retail in China and beyond. Here’s what’s happening: Taobao launched a multi-label physical store to bring the independent clothing brands selling on its platform offline. Alibaba’s Freshippo fresh food supermarket closed a store for the first time since its establishment. JD.com bolstered its efforts to source fresh food from Southeast Asian countries. Apple opened an official Weibo account to engage with China’s 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 UpdateDiebold Nixdorf (NYSE: DBD) 1Q19 Results: Misses Consensus, But Profitability Improves Amid Transformation Coresight Research May 7, 2019 Executive Summary Diebold Nixdorf reported 1Q19 revenues of $1.03 billion, down 3.4% as reported up 3.0% in constant currency and below the $1.05 billion consensus estimate. Adjusted EPS was $(0.63), below $(0.13) in the year-ago quarter and below the $(0.35) consensus estimate. Revenue in the company’s Americas banking segment grew 8.7% year over year, driven by a 49.4% increase in product revenue. Revenue from retail products grew 5.1%. The company reiterated its prior 2019 guidance of revenues of $4.4-4.5 billion (down 2-4%) and adjusted EBITDA of $380-420 million (up 15-27%). 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 UpdateBrookfield Property Partners (NASDAQ: BPY) 1Q19 Results: Beats Consensus by a Penny, Completes Share and Unit Repurchases Coresight Research May 7, 2019 Executive Summary Brookfield reported 1Q19 FFO per unit of $0.38, up 25.0% year over year and beating the consensus estimate by a penny. Net income was $0.32 per unit, compared to $0.69 in the year-ago quarter. Core retail exited the quarter at a 95.3% occupancy rate, down 10 bps year over year. NOI-weighted sales per square foot were $765, up 4% year over year and up 3% sequentially. During the quarter, the company completed $490 million of gross asset dispositions, at prices 3.6% higher than their International Financial Reporting Standards (IFRS) value. 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
Question of the WeekWhere Do US Consumers Buy Groceries In-Store? Coresight Research May 6, 2019 QUESTION OF THE WEEK: Where Do US Consumers Buy Groceries In-Store? Walmart is the clear leader among US consumers when it comes to in-store grocery shopping, with around seven in ten shoppers saying that they purchased groceries from a Walmart store in the past 12 months. This document was generated for
Company Earnings UpdateWayfair (NYSE: W) 1Q19 Results: Revenues Beat Consensus Estimates, Losses Deepen Coresight Research May 6, 2019 Executive Summary Wayfair reported 1Q19 adjusted EPS of $(1.62), marginally behind the $(1.61) consensus estimate. Revenues were $1.94 billion, up 39% and marginally ahead of the $1.92 billion consensus estimate. US direct retail accounted for 85% of revenues and grew 38.5%. International direct retail accounted for 15% of revenues and grew 41.7%. Consensus estimates for 2Q19 call for revenue of $2.22 billion (up 16.5%) and EPS of $(1.17). 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 UpdateHanesbrands (NYSE: HBI) 1Q19 Results: Strong Champion Sales Propelled Growth Coresight Research May 5, 2019 Executive Summary Hanesbrands reported robust 1Q19 revenue growth driven by US activewear and Champion subsidiary sales. International segment sales increased 13%. Champion sales increased 75%, excluding the mass channel and on a constant currency basis. Management reiterated guidance for FY19 and issued 2Q19 guidance. 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 Macerich Company (NYSE: MAC) 1Q19 Results: Beats Estimates, Raises/Reaffirms 2019 Guidance Coresight Research May 3, 2019 Executive Summary Macerich reported 1Q19 revenues of $226.5 million, down 4.3% year over year and beating the $220.4 million consensus estimate. FFOPS were $0.81, beating the consensus estimate by a penny. Mall tenant sales per square foot for the 12 months ended March 31 were $746, up 8.7% year over year, and the average rent per square foot was $60.74 as of March 31, up 3.9%. The company reaffirmed its 2019 FFO guidance of $3.65-$3.73 and raised EPS guidance to $0.41-0.49 from $0.33-0.41 previously. 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 CoverageShoptalk 2019 Startup Pitch Recap Coresight Research May 3, 2019 Executive SummaryThe Coresight Research team was in Las Vegas attending and participating in the Shoptalk 2019 conference, March 3–6. In this report, we profile the 15 innovative retail-technology companies that competed in Shoptalk’s Startup Pitch. To kick off this year’s conference, Coresight Research Founder and CEO Deborah Weinswig emceed Shoptalk’s Startup Pitch competition. The competition featured 15 early-stage technology companies, which we classified into four categories: merchandising and marketing solutions; physical retail solutions; fulfillment and post-purchase operations; and, retail e-commerce experiences. There were two winners, one chosen by a panel of judges and the other through audience voting. The judges picked Chatter Research, a company that makes a conversational commerce tool tailored to collect consumer post-purchase feedback. The audience chose smartphone-based self-checkout solution Rapitag. 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: Vancouver Coresight Research May 3, 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 and innovative store formats. Click here to view the full 30 Global Retail Cities series. Vancouver Highlights: Bridal Fashion Week in Canada is a four-day event for wedding vendors from overseas and Canada to showcase designs. Secret Location, a concept store in Vancouver, was selected as one of the Top 10 Concept Stores by Vogue Paris. GOODLAD has everything a man needs under one roof: coffee, clothing and a haircut. 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 3 2019 Coresight Research May 3, 2019 Executive Summary This week, Deborah Weinswig discusses the slowing of growth in two aspects of Amazon’s retail business, and wonders whether that might be the reason the online giant is bringing one-day delivery to the US. Consumer spending in the US picked up in March while inflation eased to a one-year low, reinforcing the Federal Reserve’s patient stance on interest rates. The UK’s competition regulator blocked Sainsbury’s proposed £7.3 billion ($9.4 billion) buyout of Walmart’s Asda, leading the grocery retailers to call off the merger. Alibaba formally launched the three new versions of its smart speaker Tmall Genie: one built into a smart makeup mirror, another with a screen for streaming video aimed at Chinese families, and a third that can pair with a dashboard camera. 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 18: Carter’s Looks to Open Stores Coresight Research May 3, 2019 Executive SummaryCoresight Research tracks store closures, openings and bankruptcies for a select group of retailers 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 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 6,130 store closures and 2,716 store openings. This compares to 5,864 closures and 3,239 openings for the full year 2018. Year to date, UK retailers have announced 321 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 UpdateClorox (NYSE: CLX) 3Q19 Results: Misses Estimates on Sales, Beats on EPS Coresight Research May 3, 2019 Executive Summary Clorox reported net sales of $1.55 billion, up 2.2% year over yearfor the three months ended March 31, 2019. The lifestyle segment was the major revenue driver for the company, growing net sales 22.6% year over year. Net sales from the international segment suffered the most decline of 5.4% year over year. For FY19, the company forecasts net sales growth of 2% to 3%, and diluted EPS of $6.25-6.35, representing growth in the range of 0-1%. 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
Company Earnings UpdateCVS Health (NYSE: CVS) 1Q19 Results: Strong Aetna Performance Boosts Revenues, Prompts Guidance Raise Coresight Research May 3, 2019 Executive Summary CVS Health reported 1Q19 revenues of $61.6 billion, ahead of the consensus estimate and up 34.8% year over year. Adjusted EPS was $1.62, up 9.5% year over year and above the consensus estimate. CVS closed its acquisition of Aetna in Novesmber 2018, so this is the first full quarter of combined operations. For FY19, CVS raised adjusted EPS guidance to $6.75-6.90 from $6.68-6.88. 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 UpdateZalando (XTRA: ZAL) 1Q19 Results: Higher Fulfillment and Administrative Costs Hurt Profits; Guidance Intact Coresight Research May 3, 2019 Executive Summary Zalando reported 1Q19 sales of €1.38 billion, up 15.2% year over year and in line with the consensus estimate recorded by StreetAccount. The company’s adjusted operating income grew 1,500% to €6.4 million, with an operating margin of 0.5%. Zalando maintained its earlier guidance for FY19 and expects GMV growth in the range of 20% to 25% and revenue growth at the low end of the 20% to 25% range. 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
