Company Earnings UpdateOllie’s Bargain Outlet (NASDAQ: OLLI) 4Q18 Results: Beats by a Penny but Misses on Revenues and Comps, Light 2019 Guidance Coresight Research March 27, 2019 Executive Summary Ollie’s reported 4Q18 revenues of $393.9 million, up 10.4% but missing the $398.2 million consensus estimate. Adjusted EPS was $0.71, up 40.4% and beating the consensus estimate by a penny. Comps increased 5.4%, up from 4.4% in the year-ago quarter but missing the 6.0% consensus estimate. Ollie’s guided for 2019 revenues of $1.43-1.44 billion, up 16-17% but slightly below the $1.45 billion consensus, comps to increased 1-2%, and adjusted EPS of $2.10-2.15, up 15-18% and below the $2.15 consensus estimate. This document was generated for
Flash ReportBoohoo Group Acquires MissPap Coresight Research March 27, 2019 Executive Summary Boohoo Group has acquired Internet-only women’s fashion brand MissPap. The acquisition adds to Boohoo Group’s collection of banners, which include Nasty Gal and PrettyLittleThing. This document was generated for
Insight ReportNew Retail Briefing #6: Alipay Expands to the UK in Partnership with Barclaycard, Watsons Mobile App Features Virtual Makeup Try-On Coresight Research March 26, 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: Alipay has teamed up with Barclaycard to officially introduce Alipay to the UK. A.S. Watson has launched a new virtual makeup feature on its mobile apps. Alibaba has invested in Chinese courier company STO Express, strengthening its influence in the delivery space. 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 Report2019 Tax Tracker Week 7: Filings Still Down One Month Before Tax Day Coresight Research March 26, 2019 Executive SummaryThe US Internal Revenue Service (IRS) tracks tax return filings on a weekly basis. As of March 15, the IRS had received 75.9 million tax returns, down 2.5% year over year. A total of 59.9 million refunds had been issued as of that date (down 3.0% year over year), totaling $177.2 billion (down 3.1% year over year) and averaging $2,957 (down $3 or 0.1% year over year). The top three expected uses for refunds were savings (50% of respondents expecting refunds said they would save the money), paying down debt (34%) and everyday expenses (22%), according to the recent annual Tax Returns Survey by the National Retail Federation (NRF). 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 UpdateTiffany & Co. (NYSE: TIF) 4Q18 Results: Strong Dollar Hurts Tourist-Driven Holiday Sales Coresight Research March 25, 2019 Executive Summary Tiffany reported adjusted EPS of $1.67 for 4Q18, beating the consensus estimate of $1.60. Total revenue for the quarter declined 1% to $1.32 billion, or up 1% at constant exchange rates, and missing the consensus estimate of $1.33 billion. At constant exchange rates, comps were flat worldwide but increased 3% in Japan and were up 1% in the Americas, partly offsetting flat comps in Asia Pacific ex Japan and Europe. The company expects low-single-digit global sales growth and a low-single-digit comp gain in FY19. EPS is projected to grow at a mid-single-digit percentage rate. This document was generated for
Event CoverageVM Global Leadership Summit: Decoding the Consumer, The New Science of Customer Behavior Coresight Research March 25, 2019 Executive SummaryCoresight Research attended the 13th Annual VM Global Leadership Summit on March 20 in New York City. CEO Deborah Weinswig delivered the keynote address Consumers at the Crossroads of Tech and Retail and moderated a panel discussion titled Tactics and Insights for Decoding Consumer Behavior. Panel participants included David Hoodis, CEO at Mood Media; Nevin Raj, Cofounder and COO at Grata Data; Heike Young, Senior Manager, Strategy & Insights: Retail & Consumer Goods at Salesforce; and, Karl Haller, Partner, Consumer Center of Competency at IBM. Coresight Research’s BEST Framework provides a schema for reshaping retail to make the store experience rich with services and customization that build brands and customer loyalty. Physical retail is far from dead, it’s evolving and service can be a key differentiator that builds customer loyalty: Know its value and how to use it in a different way. Loyalty is a key focus in 2019. Complacency should be your biggest fear – along with not knowing your competitors. This document was generated for
Insight ReportFebruary 2019 UK Retail Sales: Fragmented Sectors Drive Strong Total Growth, But Core Sectors Show Softness Coresight Research March 25, 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 UK Retail Sales Report reviews the latest sector data published by the Office for National Statistics (ONS). Highlights from our February UK Retail Sales Report: The Office for National Statistics (ONS) reported a strengthening of retail growth to 4.0% year over year in February, supported by a 3.5% increase in volumes. However, core sectors such as grocery retailers, department stores/mixed-goods retailers and large clothing retailers each reported soft year-over-year growth of around 1% or less. Total reported growth continued to be underpinned by unusually strong growth in fragmented sectors such as small clothing retailers, health and beauty retailers, and food specialists. 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
Deep DiveStrong Demand for Value, E-Commerce and Sportswear Sustains Pressure on Europe’s Middleground Apparel Retailers Coresight Research March 22, 2019 Executive SummaryWe discuss three growth segments in European apparel, which look set to keep the pressure on legacy midmarket apparel retailers: High-Quality Value Retailers: Primark has raised standards in discount apparel. It appears to have drawn shoppers from midmarket rivals while consolidating the value segment. T.K. Maxx likely had a similar impact. Consolidation means the apparent strength of the discount segment is not a rising tide that lifts all boats. Internet Retailers: Zalando aims to grow gross merchandise volume (GMV) from €6.6 billion in 2018 to €20 billion by 2023/24. But Zalando, like ASOS and Boohoo Group, is facing a challenge as fulfillment cost ratios rise in line with consumer expectations. More positively, marketing costs as a share of revenue are tending to decline across the pure-play space. Major Sportswear Brands: In the UK, Germany and France, sales of sports apparel have grown considerably faster than sales of all apparel. Even as brands focus on direct-to-consumer channels, we see demand for premium-branded sportswear supporting multibrand platforms such as ASOS, Zalando and Amazon. We see a degree of symbiosis in increased demand for major sportswear brands and the growth of online fashion platforms. 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
Store TrackerWeekly US and UK Store Openings and Closures Tracker 2019, Week 12: Shopko to Liquidate; In the UK, Office Outlet Enters Administration Coresight Research March 22, 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 5,399 store closures and 2,396 store openings. This compares to 5,726 closures and 3,243 openings for all of 2018. The Shops & Restaurants at Hudson Yards (in Manhattan) opened March 15 with 720,000 leasable square feet anchored by a three-floor Neiman Marcus. Ikea will open its first US city-center small-format store in Manhattan in April. Shoes of Prey has ceased operations worldwide. Year to date, UK retailers have announced 310 store closures and 327 store openings. Stationery chain Office Outlet is now in administration; its 90 stores will continue to operate. 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 UpdateNike (NYSE: NKE) 3Q19 Results: Digital Growth Powers Forward at a 36% Pace, China Digital Grows Over 60% Coresight Research March 22, 2019 Executive Summary Nike 3Q19 revenues rose 7%, driven by 13% growth for Nike footwear led by Greater China. The operating margin was flat at 13% of sales as gross margin expansion was offset by investment spending in Nike’s transformational initiatives. The outlook for 4Q19 is high-single-digit revenue growth offset by FX, about 75 bps gross-margin expansion and high-single-digit SG&A expense growth. This document was generated for
Company Earnings UpdateNext (LSE: NXT) FY19 Results: Higher SG&A Cost Weighs on Operating Margin; Sees No Impact from Current Brexit Uncertainty Coresight Research March 22, 2019 Executive Summary Next reported FY19 total sales of £4,167.4 million, up 1.9% year over year, and in-line with the consensus estimate recorded by StreetAccount. The company reported diluted EPS of £4.33, up 4.1% year over year, but marginally below the consensus of £4.34 recorded by StreetAccount. For fiscal 2020, the company guided total full price sales to increase 1.7% year over year and expects EPS to grow 3.6% year over year to £4.49. This document was generated for
Analyst CornerWEINSWIG’S WEEKLY MARCH 22, 2019 Coresight Research March 22, 2019 Executive Summary This week’s note “From the Desk of Deborah Weinswig” discusses Amazon’s inroads into the beauty category. Dollar General said it will open 975 new stores in the US this year and remodel 1,000 older stores with new checkout lines to drive last-minute impulse purchases. Sainsbury’s and Asda stated they would reduce prices of everyday items by around 10% should the UK’s Competition and Markets Authority approve their merger. Fung Retailing and JD.com have collaborated to unveil a new AI-powered checkout system in two Circle K stores in Hong Kong. The system is the first of its kind in Hong Kong and is designed to make checkout an easy, hassle-free process. This document was generated for
Company Earnings UpdateAlimentation Couche-Tard (TSX: ATD.B) Fiscal 3Q19 Results: Revenue Below Consensus, Merchandise and Fuel Drive Growth Coresight Research March 21, 2019 Executive Summary Alimentation Couche-Tard reported fiscal 3Q19 revenue of $16.5 billion, slightly below the consensus estimate of $16.8 billion and up 4.6% from 3Q18. Merchandise and Service segment revenue increased 8.8% year over year and Road Transportation Fuel segment revenue increased 3.4% year over year. Revenue for the Other segment, however, decreased 2.3% year over year. Alimentation Couche-Tard will open 42 stores in upcoming quarters. This document was generated for
Company Earnings UpdateWilliams-Sonoma (NYSE: WSM) 4Q18 Results: Beats on Revenues, Comps in Line, Guides for 2019 EPS Above Consensus Coresight Research March 21, 2019 Executive Summary Williams-Sonoma reported 4Q18 revenues of $1.84 billion, up 9.3%. Adjusted EPS was $2.10, up 25.3% and ahead of the $1.96 consensus estimate. Comps increased 2.4%, in line with consensus, driven by West Elm, whose comps increased 11.1%. The company guided for 2019 revenues of $5.67-5.84 billion, a comp increase of 2-5%, and adjusted EPS of $4.50-4.70, above the $4.44 consensus estimate. This document was generated for
Insight ReportInsights from China: Alibaba Invests in STO Express, Accelerating the Logistics Race Coresight Research March 21, 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 look at Alibaba’s recent investments in courier company STO Express and how the logistics race in China has stepped up. 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
