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. 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%. 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. 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. This document was generated for
Company Earnings UpdatePitney Bowes (NYSE: PBI) 1Q19 Results: Mixed Results, Reduces Guidance Due to Ongoing Execution Challenges Coresight Research May 3, 2019 Executive Summary Pitney Bowes reported 1Q19 revenue of $868.4 million, down 3.1% year over year but ahead of the $866.0 million consensus estimate. Adjusted EPS was $0.12, below the consensus estimate of $0.21. The company’s commerce services segment revenue grew 5%, driven by global e-commerce, which grew 8%. Revenues in the SMB solutions and software services segments declined year over year. The company reduced guidance for revenue growth to 1-3% from 1-4% and for adjusted EPS to $0.90-1.05 from $1.05-1.20. This document was generated for
Event PresentationHidden Revenue Leakage: How Retailers Are Losing Market Share While Growing Online Sales (Market Beyond Webinar) Coresight Research May 2, 2019 Executive SummaryThis presentation was given in a webinar held jointly with Market Beyond, which uses advanced machine learning and AI to correcting deficiencies in product assortments, pricing models, website traffic and other conversion factors. The first section discusses the state of the retail industry and e-commerce, and thesecond section discusses revenue leakage and hidden opportunities. Topics include: How 5G wireless cac increase online spending The rise of D2C brands Revenue leakage among major retailers and methods to solve it 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 UpdateUnder Armour (NYSE: UAA) 1Q19 Results: Revenue and EPS Beat Consensus Estimates; Company Updates Outlook for FY19 Coresight Research May 2, 2019 Executive Summary Under Armour reported 1Q19 sales of $1.20 billion, ahead of the consensus estimate of $1.18 billion, and EPS of $0.05, beating the consensus estimate of $0.00. Gross margin expanded to 45.2%, up 100 basis points year over year, ahead of the 45.1% consensus estimate, driven by regional mix, product cost improvements and prior period restructuring charges. For FY19, the company updated its guidance: It maintained revenue growth at 3-4% but raised EPS guidance from $0.31-0.33 to $0.33-0.34. This document was generated for
Insight ReportAlibaba and JD.com Battle it Out for Dominance of China’s Online Luxury Market Coresight Research May 2, 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 UpdateLoblaw (TSX: L) 1Q19 Results: Comp Growth Strengthens in Retail Coresight Research May 2, 2019 Executive Summary In 1Q19, ended March 23, Loblaw reported strengthening in same-store growth in both its food retail and drug retail segments. Operating income and adjusted EBITA were impacted by the IFRS 16 accounting change. Adjusted EBITDA of was up 42%, or C$313 million, and comfortably exceeded expectations Management maintained FY19 guidance for positive same-store sales and a stable gross margin in the retail segment. This document was generated for
Company Earnings UpdateSainsbury’s (LSE: SBRY) FY19 Results: Improvement in Adjusted Profit Metrics but Comparable Sales Continue to Decline Coresight Research May 2, 2019 Executive Summary For FY19, ended March 9, 2019, Sainsbury’s reported adjusted Retail EBIT up 10.7% and adjusted pretax profit up 7.8%; both metrics came in ahead of consensus. Nonadjusted operating profit, pretax profit and net profit were all down significantly. Adjustments included costs related to the failed merger with Asda, the integration of Argos, replatforming Sainsbury’s Bank and restructuring. Management said the company will invest to improve over 400 supermarkets in FY20 and will invest more in technology to offer greater convenience. This document was generated for
Company Earnings UpdateTaubman Centers (NYSE: TCO) 1Q19 Results: Beats Consensus Estimates, Updates 2019 Guidance for The Gardens Mall Acquisition Coresight Research May 2, 2019 Executive Summary Taubman Centers reported 1Q19 revenues of $160.2 million, down 0.8% year over year and beating the $157.3 million consensus estimate. Adjusted FFO was $0.95 per share, down 8.8% and ahead of the $0.90 consensus estimate. Comparable center mall tenant sales per square foot were up 18.6% in the quarter and average rent per square foot in comparable centers increased 1.3% to $56.15. To account for The Gardens Mall acquisition, Taubman reduced 2019 EPS guidance to $0.68-0.92 (from $0.84-1.08 previously) and FFOPS to $3.60-3.72 (from $3.62-3.74 previously). This document was generated for
Company Earnings UpdateSimon Property Group (NYSE: SPG) 1Q19 Results: Beats Consensus on Revenues and FFO, Reiterates 2019 Guidance Coresight Research May 2, 2019 Executive Summary Simon Property Group (Simon) reported revenues of $1.45 billion, up 4.2% year over year and ahead of the $1.44 billion consensus estimate. FFO was $3.04 per share, up 5.4% and beating the consensus estimate of $3.03 per share. Sales per square foot were $660 for the trailing 12 months ended March 31, an increase of 3.1%, and the occupancy rate as of 3/31/19 was 95.1%, up from 94.6% from a year ago. The company reaffirmed its guidance of EPS of $7.30-7.40 (down 6-7%) and FFOPS of $12.30-12.40 (up 1-2%). This document was generated for
Company Earnings UpdateNext (LSE: NXT) 1Q20 Update: Strong First Quarter but Management Cautious on Rest of Year Coresight Research May 2, 2019 Executive Summary Next reported strong 1Q20 full-price product sales growth of 4.0%, with inferred comparable product sales growth of 3.7%. In-store sales growth came in ahead of expectations, with e-commerce growth marginally behind consensus. Management said its 1Q20 overperformance cannot be extrapolated through to the rest of the year, as comparatives will become more demanding in the second quarter. This document was generated for
