Company Earnings UpdatePrada (SEHK: 1913) 2018 Results: Positive Sales Trends Across All Regions and Categories Coresight Research March 18, 2019 Executive Summary In 2018, Prada net revenues rose 2.8% in 2018, to €3.14 billion with currency penalizing growth by 300 basis points (bps). Net retail sales rose 7% on a constant-currency basis to €2.53 billion and sales at the Prada brand rose 3.9% to €2.56 billion. The operating margin declined 150 bps to 10.3% in tandem with a 150-bps gross-margin contraction, to 72.0%. EPS of €0.080 declined 17.5% and missed the €0.11 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
Flash ReportFung Retailing Group’s Circle K Showcases First AI Checkout Experience in Hong Kong Coresight Research March 18, 2019 Executive Summary On March 13, 2019, Fung Retailing Group’s convenience-store chain, Circle K, rolled out Hong Kong’s first AI-powered checkout solution using image recognition. The checkout counter can recognize products without a barcode, RFID or packaging. This pilot project represents a first step for Fung Retailing Group and JD.com to create smarter and more convenient retail. 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 DiveArtificial Intelligence in Retail, Part 3: What Startups Are Doing with AI Coresight Research March 15, 2019 Executive SummaryThis is the third report in a short series looking at the application of artificial intelligence (AI) in retail. In this report, we explore what startups are doing with AI in the context of our proprietary CORE framework, which stands for Communication, Optimization of pricing, Rationalization of inventory and Experiential retail: Capillary Technologies uses AI and machine learning to help brands gain a better understanding of consumer demands and provide a more personalized shopping experience Eversight’s Pricing Suite uses AI-driven data to predict consumer behavior and help retailers with pricing and promotions. Radius8 helps retailers merchandise products by collecting data in and around store locations, such as inventory, weather, events, shoppers’ online browsing behavior and online sales trends. AI-driven analytics startup Near has developed Allspark, a software-as-a-service offering, which helps retailers use their own data to identify brand affinity by audience, where they live, work and shop. Click here to view more reports on AI in retail. 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 ReportFebruary 2019 US Same-Store Sales: Costco Comps Decelerate, Buckle and Cato Comparable Sales Fall Coresight Research March 15, 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 Same-Store Sales Report reviews comparable sales metrics reported by Costco, Buckle and Cato. Highlights from our February US Same-Store Sales report: In February, Costco’s same-store sales growth showed a sequential slowdown. The company posted accelerated growth in e-commerce comparable sales. Adverse weather conditions, holiday shift and forex currency fluctuations negatively impacted Costco’s performance. Buckle saw a poor performance in both Men’s and Women’s segment that dragged down the comps. Cato posted a decline in comps, below the company’s own expectations. 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 UpdateDollar General (NYSE: DG) 4Q18 Results: Beats on Comps, Light 2019 Earnings Guidance, Expects to Open 975 Stores in 2019 Coresight Research March 15, 2019 Executive Summary Dollar General reported 4Q18 revenues of $6.65 billion, up 8.5% year over year and in line with the consensus estimate. EPS was $1.83, down 29.9% year over year and missing the $1.89 consensus estimate, even adding back a $0.04 charge. Comps increased 4.0%, beating the 2.6% consensus estimate. The company guided for 2019 revenue growth of 7%, 2.5% comps an EPS of $6.30-6.50 (up 5-9%), below the $6.64 consensus estimate. Dollar General plans to open 975 new stores, remodel 1,000 mature stores, and relocate 100 stores in 2019. 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 UpdateDufry (SIX: DUFN) FY18 Results: Solid Year Despite Second-Half Headwinds, Company Expects Strengthening of Revenue Growth Coresight Research March 15, 2019 Executive Summary Dufry reported FY18 revenues slightly ahead of expectations, with organic growth of 2.7% versus consensus of 2.4%. Organic revenue growth was solid in North America, at 6.8%. Organic growth was 15.1% in the Eastern Europe, Middle East, Asia and Australia region: Management pointed to “solid performance” in Cambodia, Macau, Korea and Indonesia. Management expects a gradual improvement in organic growth over FY19: In the first two months of 2019, organic growth was above 3%. 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 UpdateUlta Beauty (NASDAQ: ULTA) 4Q18 Results: 14.4% Active Member Growth During FY18 Drives 9.4% Comp Growth Coresight Research March 15, 2019 Executive Summary Ulta Beauty reported adjusted EPS of $3.61 for 4Q18, excluding the benefit from tax reform related items in fiscal 2017, beating the consensus estimate of $3.50-3.55, and revenue of $2.12 billion, beating the consensus estimate of $2.11 billion. Gross margin improved 90 basis points (bps) to 34.9% year over year, with 60 bps driven by new revenue recognition accounting and 30 bps attributed to merchandise margin improvement. The company’s fiscal 2019 outlook calls for revenue growth in the low-double-digit percentage range, 6-7% comp growth, 20-30% e-commerce growth and adjusted EPS in the range of $12.65-12.85. 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 UpdatePinduoduo (NASDAQ: PDD) 4Q18 Results: Strong Revenue Growth Thanks to Boost in Active Buyers and Average Annual Spending Coresight Research March 15, 2019 Executive Summary Pinduoduo recorded 4Q18 revenue of ¥5.7 billion, up 379.4% year over year while FY18 revenue was ¥13.1 billion, up 652% year over year. Operating expenses continued rising with operating margin worsening to a negative 46.7%. Active buyers on Pinduoduo’s platforms for full year 2018 were 418.5 million, increasing 71% year over year. 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 UpdateCASINO (ENXTPA: CO) FY18 Results: Sales In Line with Consensus, Company Aims for Strong Profit Growth Coresight Research March 15, 2019 Executive Summary Casino Group reported FY18 net sales of €6 billion, up 4.7% year over year at constant currency (down 2.4% year over year as reported), and largely in line with the consensus estimate of €36.69 billion recorded by StreetAccount. The company reported adjusted diluted EPS of €2.49, up 0.2% year over year at constant currency (down 8.5% year over year as reported), and slightly missing the consensus estimate of €53 recorded by StreetAccount. Casino Group set a target for the next three years of expanding its EBITDA and trading margins for the retail business by 0.2 percentage points per year, and also hopes to grow trading profit for the retail business 10% per year. 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 Store Openings and Closures Tracker 2019, Week 11: Charlotte Russe Closing 500 Stores; Burlington Plans 50 New Stores; AEO to Open 60-75 Stores Coresight Research March 15, 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: Year to date, US retailers have announced 5,279 store closures and 2,395 store openings. This compares to 5,726 closures and 3,243 openings for the full year 2018. Charlotte Russe will shut its entire store network of at least 500 stores. American Eagle Outfitters will open 60-75 Aerie stores. Stage Stores will shutter 40-60 Stores and convert 70-80 Stores to the Gordmans banner. Burlington will open 50 stores. Z Gallerie has filed for bankruptcy and will shut 17 stores. Tesla reverses its decision to shut all its stores. Year to date, UK retailers have announced 310 store closures and 327 store openings. LK Bennett has entered administration and has closed five stores. 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 MARCH 15, 2019 Coresight Research March 15, 2019 Executive Summary This week’s note “From the Desk of Deborah Weinswig” discusses how blockchain technology could democratize operations and promote cooperation in retail. US retail sales unexpectedly rose in January, increasing 0.2% month over month, lifted by an increase in purchases of building materials and discretionary spending. British online grocery retailer Ocado has begun testing its new one-hour delivery service, Ocado Zoom, in West London. The service is powered by the Stuart same-day delivery platform. Alibaba Group is acquiring a 14% stake in one of China’s leading express carriers, STO Express, in a deal worth $693 million. This is the e-commerce giant’s fourth major investment in a China-based courier company. 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 UpdateCasey’s General Stores (NASDAQ: CASY) 3Q19 Results: Revenue Below Consensus, Prepared Food and Grocery Fuel Growth Coresight Research March 14, 2019 Executive Summary Casey’s General Stores reported 3Q19 revenue of $2.0 billion, slightly below the consensus estimate of $2.2 billion and down 0.3% from 3Q18. Fuel segment revenue fell 4.9% year over year, while revenue in grocery and prepared food increased by 8.2% and 6.5%, respectively. Casey’s General Stores will build 55-60 new stores and acquire at least 20 stores by the end of 2019. 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 UpdateMorrisons (LSE: MRW) FY19 Results: Solid Profit Growth Prompts Optimistic Outlook Coresight Research March 14, 2019 Executive Summary Morrisons reported FY19 revenues of £7 billion, up 2.7% year over year, and slightly missing the consensus estimate of €17.8 billion recorded by StreetAccount. The company reported adjusted diluted EPS of 12.88 pence, up 7.9% year over year, but missed the consensus of 13.1 pence. Morrisons expects £12 million incremental profit from wholesale, services, interest and online, taking the cumulative total to £54 million. The company believes it is on track for its £75-125 million target. 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 UpdateInditex (BME: ITX) FY18 Results: Revenues Up, Missed Consensus, Integrating Online and Stores Globally Coresight Research March 14, 2019 Executive Summary Inditex reported FY18 revenues of €15 billion, lower than the consensus estimate of €26.41 billion and up 3.2% from the year-ago period. The company reported net income of €3.44, up 2.1% from the year ago period. Comparable store sales increased 4.0% in FY18, positive across all regions and brands as well as online and in-store. Management projects comparable sales growth of 4-6% in FY2019. 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: Slowing Growth, Further Opening of China’s Economy, and Demands to Accelerate the Digital Transformation — Key Points from China’s “Two Sessions” Coresight Research March 14, 2019 Executive SummaryIn our weekly series Insights from China, we curate ongoing developments to distill what international brands and retailers need to know about China to succeed in the country. We cover areas such as policy, consumer behavior, consumer sentiment, government regulations and the competitive landscape – as they affect international companies selling to Chinese consumers or looking to enter the market. This week, we look at key insights from the recent “Two Sessions” in China, and implications these developments have for foreign businesses 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
