Event CoverageFoot Locker Investor Day 2019: Investing in Youth Culture Through Physical and Digital Experiences; 200 Power Stores by 2023 Coresight Research April 1, 2019 Executive SummaryOn March 28, 2019, Foot Locker hosted its investor day. The company focused on its customer-connected strategic framework, strategic initiatives, international expansion plan, Power Store portfolio optimization and five-year financial outlook. During the event, Foot Locker: Updated its purpose — “to inspire and empower youth culture.” Outlined its customer-connected strategic framework spanning collections, content, community, connectivity and convenience. Said it is investing in physical and digital experiences with the goal of elevating the customer experience. Outlined plans to continue to expand into Asia. Provided its five-year outlook — it aims to grow sales at a compound annual growth rate in the mid-single digits, and it is targeting sales per gross square foot of $525-575. This document was generated for
Company Earnings UpdateH&M (STO: HM-B) 1Q19 Results: Profits Slide but Beat Consensus, Positive Signs on Full-Price Sales Coresight Research April 1, 2019 Executive Summary H&M reported 1Q19 profit after tax of SEK 803 million, down 41.5% year over year, and EPS of SEK 0.49, down 41.0% year over year but ahead of the SEK 0.31 consensus recorded by StreetAccount. The year-over-year changes in both metrics were impacted by a boost from the US Tax Cuts and Jobs Act in the year-ago quarter. The company’s gross margin expanded by 10 basis points to 50%, beating the consensus estimate of 49.1% recorded by StreetAccount. In 2019, H&M plans a net addition of 175 stores with most of these stores set to open in growth markets, while it plans to reduce H&M stores in Europe by 50. This document was generated for
Insight ReportFebruary 2019 Monthly Consumer Update: US, UK and China Coresight Research March 29, 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 Consumer Update rounds up key metrics that reflect consumer demand in the US, the UK and China. We focus on direct, leading indicators of the health of the consumer economy: wage growth, price changes and retail sales growth. Highlights from our February Consumer Update: US wage rises continued to comfortably outpace inflation. UK retail sales growth strengthened, following an acceleration in wage growth. Chinese consumers enjoyed an easing of inflation to 1.5%, helped by slowing inflation in food prices. 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 OutlookThe Opportunity in Women’s Plus-Size Apparel in China: A Potential $10 Billion Market Coresight Research March 29, 2019 Executive SummaryWhile the US plus-size apparel market has been studied extensively, China’s plus-size apparel market is less explored. A growing plus-size population will make China’s plus-size market promising. Despite a low obesity rate, the scale of China’s population means plus-size apparel represents a substantial market with significant potential for brands and retailers. Our calculations estimate the women’s plus-size market in China will be worth around $4.8 billion in 2019 — but would be worth over $10 billion if the plus-size segment achieved a share of China’s women’s apparel market equal to the obesity rate among the female population. Plus-size brands and retailers are providing attentive customer service, employing plus-size models and investing in social media to attract 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
Event CoverageDeborah Weinswig’s Shoptalk 2019 Presentation: Nine Things We Can Learn from China and India Coresight Research March 29, 2019 Executive SummaryThe Coresight Research team was in Las Vegas attending and participating in the Shoptalk 2019 conference, March 3-6. At Shoptalk, Deborah Weinswig, CEO and Founder of Coresight Research, delivered a presentation on the topic of “Nine Things We Can Learn from China and India.” These are some of the highlights: China leads globally in mobile payments with WeChat Pay and Alipay leading the way. India is also witnessing growing acceptance for digital payments with Paytm and PhonePe leading the charge. Companies in China are seeking to tap the significant opportunities that exist in non-tier 1 cities. Both markets are seeing a strong thrust by retailers to enhance the customer experience by improving delivery efficiency. Word-of-mouth shopping culture in China is a key driver, and influencer marketing is gaining in prominence in India. This document was generated for
Store TrackerWeekly US and UK Store Openings and Closures Tracker 2019, Week 13: Tommy Hilfiger Shuts Fifth Avenue Flagship Store; In the UK, Flannels to Open 60 stores by 2021 Coresight Research March 29, 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 5,480 store closures and 2,458 store openings. This compares to 5,727 closures and 3,239 openings for the full year 2018. Hibbett Sports has announced plans to close 95 stores and open 10-15 Hibbett and City Gear stores in its fiscal 2020. Tommy Hilfiger has shut its global flagship store at 681 Fifth Avenue in New York City. General retailer Ollie’s Bargain Outlet has announced plans to open 42-44 stores in the US in 2019. The retailer has opened 9 stores thus far in 2019. Year to date, UK retailers have announced 310 store closures and 347 store openings. Luxury fashion chain Flannels will open 60 new stores in the next three years in the UK. 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 UpdatePVH (NYSE: PVH) 4Q18 Results: Tommy Hilfiger Exits 2018 With a 16% International Comp Rise and a Solid 2019 Order Book Coresight Research March 29, 2019 Executive Summary PVH 4Q18 revenues declined 1% to $2.48 billion, as an extra week in the year-ago period and a calendar shift reduced revenues approximately $125 million. Adjusted 4Q18 EPS rose 16.5% to $1.84 versus $1.58 in the same period last year and the $1.76 consensus estimate. Tommy Hilfiger is the stallion in PVH’s brand portfolio, achieving 5% revenue growth (constant currency), 16% comps internationally and 5% comps in North America (NA). The outlook for 2019 includes adjusted EPS of $10.30-10.40 versus $9.60 in the same period last year and includes $0.22 in negative currency impact. This document was generated for
Company Earnings UpdateRH (NYSE: RH) 4Q18 Results: Beats on Comps and EPS but Misses on Revenues; Reduces 2019 Guidance to Below Consensus Estimates Coresight Research March 29, 2019 Executive Summary RH reported 4Q18 revenues of $670.89 million, flat year over year and missing the $686.4 million consensus estimate due to sales weakness in December which persisted through the remainder of Q4. Adjusted EPS was $3.00, beating the $2.86 consensus estimate. Comparable-brand revenue growth was 5%, beating the 4.8% estimate and the 2% reported in the year-ago quarter. The company reduced 2019 guidance due to weakness in its core business as well as in high-end housing, guiding for 2019 adjusted net revenues of $2.58-2.63 billion, an increase of 3-5%, and adjusted EPS of $8.41-9.08, an increase of 11-19%. This document was generated for
Analyst CornerWEINSWIG’S WEEKLY MARCH 29, 2019 Coresight Research March 29, 2019 Executive Summary This week’s note “From the Desk of Deborah Weinswig” discusses how strong demand for value fashion, e-commerce pure plays and sportswear brands is pressuring Europe’s middleground apparel retailers. Following a stronger-than-expected IPO, Levi Strauss CEO Chip Bergh said on Mar. 21 that Levi’s has a “clear runway for growth” as it looks to boost women’s jeans sales. British supermarket Ocado signed an exclusive services agreement with Australian supermarket Coles to develop Coles’ online grocery business using the Ocado Smart Platform. Chinese technology giant Tencent plans to enter the lucrative mobile payments market in India by introducing WeChat Pay in the country, pitching it against Google Pay and Paytm. This document was generated for
Insight Report30 Global Retail Cities: New York — Retail is a Platform for Storytelling and Immersive Experiences in America’s Shopping Capital Coresight Research March 28, 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 innovative store formats. Click here to view the full 30 Global Retail Cities series. New York Highlights: Hudson Yards opened on March 15 with more than 100 retail brands and a “Floor of Discovery.” Showfields aims to be “The Most Interesting Store in The World” with its combination of art gallery, a café and digitally native brands. Dover Street Market, is retail on Rei Kawakubo’s terms with seasonal resetting of the entire retail space and a mix of street and luxury. 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 UpdateLululemon (NASDAQ: LULU) 4Q18 Results: Revenues up 26%, Opening 40-50 Stores in 2019 – Half in International Markets Coresight Research March 28, 2019 Executive Summary Lululemon 4Q18 revenues were $1.17 billion, up 26% year over year and beating the consensus estimate of $1.15 billion. The company reported 4Q18 EPS of $1.65, up 87.5% from the year-ago period. For the fourth quarter, the company saw consolidated comparable sales growth of 17% on a constant-dollar basis, compared to the consensus estimate of 16.9%, and beating the company’s guidance of mid to high teens. For the year, the company’s comparable store sales increased 8% on a constant-dollar basis. For the full year 2019, management expects revenue to be in the range of $3.70-3.74 billion, and for FY19 diluted earnings per share to be in the range of $4.48-4.55, above the consensus estimate of $4.41. This document was generated for
Company Earnings UpdateFive Below (NASDAQ: FIVE) 4Q18 Results: Beats Consensus Estimates but Light 2019 Guidance Coresight Research March 28, 2019 Executive Summary Five Below reported 4Q18 revenues of $602.7 million, up 19.4% year over year and beating the $601.4 million consensus estimate. EPS was $1.59, beating the consensus estimate by two cents. Comps increased 4.4%, beating the 4.2% consensus but down from 6.5% in the year-ago quarter. The company guided for 2019 revenues of $1.86-1.88 billion, up 20-21% but below the $1.90 billion consensus and for EPS of $3.00-3.07, up 13-15% and below the $3.13 consensus. New lease accounting is expected to hurt 2019 EPS by $0.10. This document was generated for
Insight ReportInsights from China: Alipay and WeChat Pay Go International Coresight Research March 28, 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 business operations and future outlook. This week, we look at how China’s leading mobile payment providers Alipay and WeChat Pay are expanding internationally. 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 CoverageShoptalk 2019 Startup Pitch Competition Recap: 15 Retail Technology Disruptors Coresight Research March 27, 2019 Executive SummaryThe Coresight Research was in Las Vegas attending and participating in the Shoptalk 2019 conference, March 3-6. 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. This document was generated for
Flash ReportOcado Inks Another International Deal, Signing Up Australia’s Coles Group to the Ocado Smart Platform Coresight Research March 27, 2019 Executive Summary Ocado Group has signed Australian grocery retailer Coles to its Ocado Smart Platform (OSP). The companies will construct two robotic fulfillment centers in Australia, and Coles will deploy Ocado’s store-picking technology. Coles already generates more than A$1 billion in online sales on an annualized basis, a large share of 2018’s A$3.5 billion in total Internet sales of food and drink in Australia. Ocado’s deal with Coles follows similar agreements with retailers such as Kroger in the US, Sobeys in Canada and Groupe Casino in France. This document was generated for
