Company Earnings UpdateJD.com (NASDAQ: JD) 1Q19 Results: Revenue Beats Estimates, Strong 2Q19 Guidance Coresight Research May 14, 2019 Executive Summary JD.com reported 1Q19 revenue of ¥121.1 billion ($18.0 billion), up 21% year over year and beating the StreetAccount estimate of ¥120.2 billion. Operating income in 1Q19 increased to ¥1.2 billion ($200 million) from ¥4.4 million in 1Q18. The company’s revenue guidance for 2Q19 was ¥145–150 billion, equivalent to 19-23% year-over-year growth, ahead of the consensus estimate. This document was generated for
Question of the WeekWhich Company Filed the Most Wearable Technology Patent Applications in the US Last Year? Coresight Research May 13, 2019 QUESTION OF THE WEEK: Which Company Filed the Most Wearable Technology Patent Applications in the US Last Year? Apple filed applications for 275 wearable technology patents in the US in 2018, comfortably surpassing Walmart, which filed for 91 patents, and Amazon, which filed for 19 patents. This document was generated for
Insight ReportSix Months to Singles’ Day: Is 11.11 on Your Calendar? Coresight Research May 13, 2019 Executive SummarySingles’ Day, which began as a festival of young Chinese people celebrating their pride in being single, has become the world’s largest 24-hour online shopping event in terms of gross merchandise volume (GMV). Alibaba’s platforms and JD.com are the two major players. With six months to go until Singles’ Day 2019, brands and retailers looking to participate in the event should start to plan now to ensure products, logistics, warehouse space and marketing efforts are ready. Singles’ Day 2018 generated $30.8 billion in total GMV on Alibaba’s online platforms, while JD.com reported US$23 billion in GMV. Singles’ Day, or 11.11 as the festival is also known, has grown to be so huge it can serve as a strategic entry point to the China market. To succeed on Singles’ Day, brands and retailers must leverage social media to boost consumer awareness – and incorporate Chinese cultural elements into offerings. Click here to read more Coresight coverage of Singles’ Day over the last few 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 UpdateTapestry (NYSE: TPR) 3Q19 Results: Revenue Misses Expectations, Opening Stores in China Coresight Research May 13, 2019 Executive Summary Tapestry reported adjusted 3Q19 EPS of $0.42, down 22.2% from the prior year period and beating the $0.41 consensus estimate. Total revenues grew 0.8% (2% currency neutral) to $1.33 billion, missing the $1.34 billion consensus estimate. Adjusted gross margin expanded 30 bps to 69.2%, driven by Kate Spade. The company continues to expect a low-to-mid-single-digit revenue growth and EPS of $2.55-2.60 for fiscal 2019. This document was generated for
Event CoverageNotes from the 2019 Intel Investor Meeting: Dramatically Growing the Addressable Market by Pursuing Data-Centric Opportunities Coresight Research May 13, 2019 Executive SummaryIntel held its annual investor meeting at its Santa Clara, California headquarters on May 8, 2019. Key points from the meeting include: Expanding the total addressable market (TAM): Intel plans to expand its total addressable market to $288 billion in 2023 from $52 billion in 2018, by expanding its focus on data-centric technologies. Extending product leadership: The company aims to redefine “Intel Inside” as a platform inside all kinds of devices in computing centers, PCs, energy, manufacturing, homes and vehicles. Improving execution, innovation and culture: Intel pledges to meet customer demand, recoup process leadership and deliver on schedule with predictability while operating as “one Intel,” remaining customer obsessed and practicing inclusion. Disciplined investment, profitable growth: The company plans to make organic investments in research and development and capital investments for growth, make strategic investments, and return capital to shareholders while maintaining a strong credit rating and financial flexibility. Financial targets for the next three years include low-single-digit revenue growth, 32% operating margins and EPS growth in line with revenue but free cash flow growing faster than earnings. Intel discussed technologies such as the Internet of Things (IoT), aggregation of computing power at the edge of the network, video inference and high-performance computing as drivers for targeted areas such as retail and manufacturing. This document was generated for
Company Earnings UpdateCoty (NYSE: COTY) 3Q19 Results: Revenues Miss Consensus Estimate, Supply Chain Issues Seemingly Resolved Coresight Research May 13, 2019 Executive Summary Coty fiscal 3Q19 revenues were $1.99 billion, down 10.4% year over year and lower than the consensus estimate of $2.06 billion. Coty reported 3Q19 adjusted EPS of $0.13, even with the year ago period and beating the consensus estimate of $0.12. By division, sales in the luxury division (the company’s largest division) slipped 3.1% year over year on a reported basis, consumer beauty sales slid 17.8% year over year, and professional beauty revenues declined 6.1% year over year. The company did not provide quantitative EPS and revenue guidance for FY19. However, management said the company expects FY19 constant-currency adjusted operating income will be moderately below FY18, implying a solid profit performance in 4Q19 despite expected continued weakness in the top line. This document was generated for
Insight ReportDigital Disrupts Consumer Packaged Goods Coresight Research May 13, 2019 Executive SummaryAdvances in digital technology have changed how the consumer packaged goods (CPG) industry operates. Digital technology has driven changes in production processes, distribution channels and inventory management: E-commerce has served as a growth impetus for CPG, enabling a more direct connection between brands and customers and giving brand owners greater control over the supply chain. The subscription model blends well with fast-moving consumables. Collecting data as consumers review and shop products online has allowed CPG companies to tailor marketing campaigns to drive conversion. Machine learning can optimize demand forecasting and enable better inventory management. 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 CoverageInsights from JD.com Logistics Tour: Three Cool Things You Need to Know About JD Logistics Coresight Research May 13, 2019 Executive SummaryThe Coresight Research team joined JD.com on a tour to show off the company’s logistics prowess. In this report, we discuss a few of the things we found most intriguing. JD.com has: Developed and deployed robots to support last-mile delivery. Tested drone delivery to bring e-commerce to remote areas. Launched “white glove” service to offer a high-end delivery experience. This document was generated for
Insight Report30 Global Retail Cities: Shanghai Coresight Research May 10, 2019 Executive SummaryIn 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 have 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. These are our highlights from Shanghai: Every year, the city holds Shanghai Fashion Week, as well as Shanghai Black Fashion Week – the first and only fashion event in China aimed at discovering diverse and emerging fashion designers. Unstaffed stores are becoming more common in Shanghai, with stores such as Moby Mart and Suning Biu. The K11 shopping mall is considered a “museum retail concept,” integrating art into the six-floor mall. 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 10 2019 Coresight Research May 10, 2019 Executive Summary This week’s note “From the Desk of Deborah Weinswig” looks at the nascent but fast-growing use of wearable technology in retail. In the US, Seattle-based Flexe raised $43 million to expand its capabilities. The company operates like Airbnb but for warehouse space, matching empty space to retail clients needing it. Sephora will launch its first outlet in Korea in October, in the capital city’s upscale Gangnam district. Sephora plans to launch five more physical stores and an online store in Korea by next year. Walmart Chile announced the company plans to invest $260 million to build more than 20 new stores. The company will also invest $36 million to remodel existing stores. This document was generated for
Company Earnings UpdateMorrisons (LSE: MRW) 1Q20 Trading Update: Group Comps Below Expectations, Access to Ocado Erith Fulfilment Center Suspended Coresight Research May 10, 2019 Executive Summary Morrisons reported group same-store sales growth of 2.3% excluding fuel, below the consensus estimate of 2.5% recorded by StreetAccount. The company agreed with its online grocery service provider Ocado that Morrisons’ access to the new Erith customer fulfilment centre (CFC) will be suspended until January 2021. Ocado will no longer be Morrisons’ exclusive digital partner. This document was generated for
Store TrackerWeekly US and UK Store Openings and Closures Tracker 2019, Week 19: CVS Shuts Underperforming Stores Coresight Research May 10, 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 6,196 store closures and 2,724 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
Market Navigators/Market OutlookUS Furniture Market 2019 Coresight Research May 9, 2019 Executive SummaryWe review the recent development of, and outlook for, the $114 billion US furniture retail market. The US furniture industry has been on a steady growth curve driven by a strong economy, with consumer spending on furniture reaching $114.2 billion in 2018, up 6.7%, according to the US Bureau of Economic Analysis (BEA). Uncertainty in the housing sector as housing permits and starts decline represent headwinds. Millennials, the largest consumer group in the US, have become a key target market for furniture retailers, and retailers are shifting offerings to more effectively reach this group. E-commerce as a channel for furniture shopping is becoming increasingly popular, especially among millennials, and companies such as Amazon and Wayfair have capitalized on this trend to become formidable players in the sector. Brick-and-mortar stores remain the format of choice for the majority of US consumers, but establishing a strong omni-channel presence has become imperative in a sector in which research online, purchase offline is commonplace. 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: The Second Belt and Road Forum Coresight Research May 9, 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 review the second Belt and Road Forum held in Beijing from April 25-27, 2019. 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 UpdateAhold Delhaize (ENXTAM: AD) 1Q19 Results: EPS in Line with Consensus, Lowers FY19 EPS Guidance Coresight Research May 9, 2019 Executive Summary Ahold Delhaize reported 1Q19 net sales of €15.88 billion, up 1.5% year over year at constant exchange rates (up 6.3% as reported), and slightly below the consensus estimate of €15.96 billion recorded by StreetAccount. The company reported diluted EPS from continuing operations of €0.38, up 15.2% year over year and in line with the consensus estimate. Ahold Delhaize lowered its guidance on EPS and now expects underlying earnings per share from continuing operations to grow by a low-single-digit percentage compared to earlier guidance of high single digits. This document was generated for
