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. 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%). 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. 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. 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
Company Earnings UpdateKohl’s (NYSE: KSS) 1Q19 Results: Revenues and Comps Down, Expands Amazon Partnership Nationwide and Launches Plus-Size Private Label Coresight Research May 22, 2019 Executive Summary Kohl’s reported fiscal 1Q19 revenues of $4.09 billion, beating the consensus estimate of $3.95 billion, and down 2.9% year over year. The company reported 1Q19 EPS of $0.61, lower than the consensus estimate of $0.68, and down 4.7% from the year ago period. Comparable sales decreased 3.4% for the quarter compared to the consensus estimate of (0.1)%. For fiscal FY19, the company lowered its earnings per diluted share from $5.80-6.15 to $5.15-5.45, compared to the consensus estimate of $6.03. This document was generated for
Insight ReportLuckin Coffee Leverages Pick-Up Store Format and Delivery Services, IPO Set to Fund Further Expansion Coresight Research May 22, 2019 Executive SummaryLuckin Coffee, China’s answer to Starbucks, raised some $571.2 million through an initial public offering (IPO) of American Depository Receipts for 33 million of its shares on the Nasdaq, pricing its shares at the top end of the pre-listing debut range of $17. The amount raised could hit $650.8 million if the underwriters exercise their option to purchase additional shares. Luckin Coffee provides fast delivery services to attract customers looking for convenience. The company uses a pick-up store format (that also offers delivery) that typically has low rent and fit-out costs to allow the company to expand rapidly at lower cost. Luckin Coffee will use the funds raised through the IPO to open more stores and fund promotions for the coming three to five years. 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 UpdateJCPenney (NYSE: JCP) 1Q19 Results: Revenues Down, Missing Consensus, Management Reducing and Enhancing Inventory Position Coresight Research May 22, 2019 Executive Summary JCPenney reported fiscal 1Q19 revenues of $2.44 billion, lower than the consensus estimate of $2.48 billion, and down 5.6% year over year. The company reported 1Q19 EPS of $(0.46), lower than the consensus estimate of $(0.39). Comparable sales decreased 5.5% for the quarter compared to the consensus estimate of (4.2)%. The company expects to be cash flow positive for fiscal year 2019. This document was generated for
Event CoverageICSC RECon 2019: Day 2 Insights Coresight Research May 21, 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. These are some of the highlights from day 2: Retail investment in artificial intelligence (AI) is now greater than that of the banking sector. AI will become retailers’ go-to technology to strip friction from brick-and-mortar retail. Western retailers will increasingly adopt China’s “New Retail” as consumers further opt for digital, and especially mobile, shopping. You may also be interested in our coverage from Day 1 and Day 3 of the RECon event. This document was generated for
Deep DiveUnderstanding Fresh Food E-Commerce in China Coresight Research May 21, 2019 Executive SummaryChinese consumers are buying more and more online, and fresh food has become a new category they increasingly look for. The gross merchandise volume (GMV) of China’s fresh food e-commerce market is expected to increase 160% to ¥162.0 billion in 2019 from ¥62.2 billion in 2016, according to iiMedia. Most fresh food e-commerce shoppers are millennials—those born in the 1980s and 1990s. Convenience and time-saving are key factors driving consumers to buy fresh food online. There are three primary types of fresh food e-commerce operations in China: vertical fresh food e-commerce specialists, comprehensive e-commerce platforms and online-to-offline (O2O). Due to the perishable nature of fresh food, the category requires hefty investments to build the cold chain logistics needed to complete last-mile delivery. Consumers’ expectation of fast delivery and the heavy investment required are key challenges for fresh food e-commerce operators. 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 ReportNew Retail Briefing #10: Alibaba Accelerates its Global Expansion, Intersport Teams Up with Suning Coresight Research May 21, 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: Alibaba is accelerating its global expansion by allowing merchants in selected countries to sell on AliExpress and launching the “The New Chinese Goods Project.” Meituan closed five Ella fresh food supermarkets. Intersport is partnering with Suning to enhance its presence in China. 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 PresentationHow Retailers Are Using AI to Win (ICSC RECon) Coresight Research May 20, 2019 Executive SummaryThis presentation was given at ICSC (International Council of Shopping Centers) RECon which featured a duscission of AI in retail and a panel discussion including executives from Guess, Taperstry and Trax. The AI introduction docused on its application in retail and data-driven retail. Topics include: The endless reach of AI applications The use of AI to drive Spectacular Retail and great logistics Western retailers will adopt “New Retail“ and “Boundaryless Retail” from the East 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 1 Insights Coresight Research May 20, 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. These are some of the highlights from day 1: The mall is not dead, just being reincarnated as landlords look for creative ways to reinvent the mall experience to draw in customers – and beat back the trend of rising store closures. Digital natives are getting physical as they see the value in a brick-and-mortar presence. Luxury is investing in physical formats to support the differentiation of their brands. Young Chinese travelers are changing the face of Chinese outbound tourism, presenting opportunities for US luxury retailers. You may also be interested in our coverage from Day 2 and Day 3 of the RECon event. This document was generated for
Deep DiveThe $13 Billion US Women’s Underwear Industry: Disruption Creates Opportunity Coresight Research May 20, 2019 Executive SummaryIn this report, we analyze the US women’s underwear market. The $13.1 billion US women’s underwear market is in a state of change. Over the past five years, the top five US women’s brands have lost market share, falling from a combined total of 51.6% in 2013 to 41.2% in 2018. Victoria’s Secret, the top women’s intimates’ retailer in the US, has lost market share since 2013, when it held 31.7% of the market; in 2018, its share of the market was down to 24.0%. Market forces are reshaping the US intimates’ industry landscape, with an increasing number of entrants to the category over the past 10 years. Emphasis on body positivity and inclusivity are spurring change, particularly in the evolving definition of sexy. Styles are changing to focus on fit and comfort with the help of artificial intelligence (AI) and other technology. In terms of market share, digitally native brands are the most significant challengers to traditional US women’s underwear brands. The category that includes these and other small brands grew from 28.1% of the market in 2013 to 36.2% of the market in 2018, according to Euromonitor International. Athletic retailers including Nike, Under Armour, Adidas, Lululemon, and Champion have increased market share in the women’s underwear market from 2013 to 2018. According to NPD, one-third of the “bra dollars” spent by millennials in 2018 were for sports bras. 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
