Company Earnings UpdateCostco Wholesale (NASDAQ: COST) Fiscal 2Q19 Results: Solid Quarter with Slightly Light Revenues and Blowout EPS Coresight Research March 12, 2019 Executive Summary Costco reported fiscal 2Q19 revenues of $35.40 billion, up 7.3% year over year and slightly below the $35.65 billion consensus estimate. EPS was $2.01, up 26.6% year over year and handily beating the $1.69 consensus estimate. Comps (excluding gasoline and other items) increased 6.7%, and e-commerce comps increased 25.5%. February comps increased 4.6% (ex items), and e-commerce comps grew 21.6% (ex items). This document was generated for
Company Earnings UpdateBig Lots (NASDAQ: BIG) 4Q18 Results: Revenues in Line, Big Beat on EPS, Guides for Lower EPS Coresight Research March 11, 2019 Executive Summary Big Lots reported 4Q18 revenues of $1.60 billion, down 2.6% year over year and in line with the consensus estimate. Adjusted EPS was $2.68, up 4.2% and handily beating the $2.30 consensus estimate. Comps increased 3.1%, compared with a decrease of 0.1% in the year-ago quarter. The company guided for a low single digit increase in comps in 2019 and adjusted EPS of $3.55-3.75 (down 7-12%), in line with the $3.64 consensus estimate. This document was generated for
Deep DiveAmazon Beauty: Who Is Selling What? An Exclusive Analysis of Over 200,000 Beauty and Personal Care Listings on Amazon.com Coresight Research March 11, 2019 Executive SummaryWe analyze Amazon’s beauty and personal care offering, based on aggregated data on over 200,000 products listed on Amazon.com’s US beauty website, collated with competitive intelligence provider DataWeave. We also include summary data from our recent survey of US beauty and personal care shoppers. Our research identified 212,818 beauty and personal care products across 2,499 brands spanning eight major beauty categories on Amazon.com. Makeup is the largest category, accounting for 33% of beauty products, followed by skincare at 26%, haircare at 14%, personal care at 13%, fragrance at 9% and oral care at 2%. Men’s grooming and luxury beauty each account for 1% of listings. Maybelline New York is the most-listed brand on Amazon.com with 4,370 product listings. While Amazon offers a large selection in beauty, 4% of beauty brands (103) account for fully 52.1% of all beauty product listings. Some 12.6% of Amazon beauty brands (316) list only one product each. This suggests that there are opportunities for some beauty brands to scale up. Our consumer survey found Amazon is America’s second-most-shopped retailer for beauty, grooming, and personal care products, behind Walmart: Some 42.5% of shoppers said they bought on Amazon in the past 12 months. 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 OutlookSector Overview: Consolidation, Collaboration and Innovation Coming to US Drugstores Coresight Research March 8, 2019 Executive SummaryEach of our Sector Overview reports provides an essential briefing on a sector or market. In US drugstore retailing: Collaborations and alliances formed last year will manifest synergies in the form of innovation in offerings. The US drugstore retail market was worth $233 billion in 2017 and is expected to grow at a CAGR of 4.1% to $280 billion in 2023. The US drugstore sector has heavily consolidated in recent years, with Walgreens, CVS and Rite Aid owning 77% of the market. 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 DiveBlockchain in Retail: Decentralizing the Digitalization of Retail Operations Coresight Research March 8, 2019 Executive SummaryBlockchain technology has the potential to disrupt retail as it can decentralize processes through which retailers interact with partners, industry players and consumers, making operations more efficient and secure. We looked into the implications for this technology and these are the key takeaways: The decentralized and secure nature of the blockchain has the potential to disrupt operations in retail, including supply chain and logistics, customer data management, loyalty programs, payments and marketplaces. Blockchain in the supply chain enhances traceability, helping businesses minimize the impact of problems such as food safety issues and fight counterfeits. The blockchain can decentralize Internet of Things (IoT) architectures, making them more secure and scalable. The blockchain can create decentralized, trusted and secured systems to handle customer data, enabling consumers to retain more control of how their data is used by companies. Blockchain-enabled joint loyalty programs could give more reward options to shoppers and more consumer data to collaborating companies. Cryptocurrency payments could be embedded into checkout-less platforms in brick-and-mortar stores. Shoppers could walk out of a store while smart contracts automatically execute payments for the items bought. The key strength blockchain offers is encouraging collaboration among companies in retail operations. 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 UpdateAmerican Eagle Outfitters (NYSE: AEO) Fiscal 4Q18 Results: Revenues Up, Comps Up 23% at Aerie, Opening 60-70 Aerie Locations in 2019 Coresight Research March 8, 2019 Executive Summary American Eagle Outfitters reported fiscal 4Q18 revenues of $1.24 billion, lower than the consensus estimate of $1.26 billion, and up 1.3% year over year. The company reported 4Q18 EPS of $0.43, higher than the consensus estimate of $0.42 and exceeding the company’s guidance of $0.40-0.42, but lower than the year ago period. American Eagle’s fourth quarter comp sales rose 3%, marking the seventh consecutive quarter of comp increases. For the 2018 fiscal year, comparable sales grew 8%. In 1Q19, the company projects earnings per share of $0.19 to $0.21, lower than the consensus estimate of $0.24. AEO expects comparable sales to be in the positive low single digits. This document was generated for
Flash ReportAmazon Plans to Drop its Pop-Up Stores Coresight Research March 8, 2019 Executive Summary Amazon plans to close 87 of its pop-up stores by the end of April, a company spokesperson confirmed to the Wall Street Journal. The pop-ups sell other brands of Amazon consumer electronics products, and their existence underscores Amazon’s willingness to experiment with various retail formats and make changes based on data collected. At the same time, the company is expanding its bookstores and four-star stores, as well as its fleet of unstaffed Amazon Go stores. Amazon is also reportedly planning to open non-Whole Foods Market branded traditional grocery stores and considering purchasing several regional grocery chains, also according to the Journal. This document was generated for
Company Earnings UpdateBurlington Stores (NYSE: BURL) Fiscal 4Q18 Results: Revenues Up, Missed Consensus, Opening 50 Net New Locations in 2019 Coresight Research March 8, 2019 Executive Summary Burlington Stores, Inc. reported fiscal 4Q18 revenues of $1.99 billion, lower than the consensus estimate of $2.05 billion, and up 2.8% year over year. The company reported adjusted 4Q18 EPS of $2.83, higher than the consensus estimate of $2.77 and 28.1% higher than the year ago period, which excludes the impact of the third week and the revaluation of 2017 deferred tax liabilities. Fourth quarter comparable store sales increased 1.3%, lower than the consensus estimate of 3.2%. 1Q19 earnings per share guidance is $1.21-1.31, lower than the consensus estimate of $1.36. The company projects total sales to increase 7-9%, compared to the consensus estimate of 8.9%, and comps are expected to be 0-2% compared to the consensus estimate of 2.6%. For FY19, the company projects earnings per share of $6.93-7.06, compared to the consensus estimate of $7.06. This document was generated for
Company Earnings UpdateKroger (NYSE: KR) Fiscal 4Q18 Results: Comp Growth Strengthens, as Management Points to the Fruits of Its “Restock Kroger” Program Coresight Research March 8, 2019 Executive Summary Kroger reported a 1.9% increase in same-store sales in 4Q18, up from 1.6% in the prior quarter and in line with consensus. Total reported sales declined due to the divestiture of its convenience store business. 4Q18 adjusted EPS of $0.48 came in shy of the $0.52 consensus. Management guided for FY19 same-store sales growth of 2.0-2.5%. This document was generated for
Store TrackerWeekly Store Openings and Closures Tracker 2019, Week 10: Dollar Tree Plans 550 New Stores; Foot Locker Closing 165 Stores; Peloton to Open 100 Stores Coresight Research March 8, 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 4,810 store closures and 2,264 store openings. Dollar Tree Inc. plans to open a total of 550 stores: 350 under the Dollar Tree banner and 200 under the Family Dollar banner. Victoria’s Secret will close 50 US stores. Foot Locker will close 165 stores and open 80 new stores globally. Peloton will open 100 new stores. JCPenney plans to shutter 27 stores. Gap will shut 230 stores globally over a two-year period. Year to date, UK retailers have announced 305 store closures and 327 store openings. Paperchase will shutter at least five stores. Debenhams reaffirms plans to close 50 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 8, 2019 Coresight Research March 8, 2019 Executive Summary This week’s note “From the Desk of Deborah Weinswig” discusses our recently published second annual survey of Amazon apparel shoppers. Amazon is reportedly planning to open dozens of grocery stores in several major US cities. The stores will be distinct from the company’s Whole Foods chain and the first is to open in Los Angeles as early as the end of this year. Berlin-based e-commerce retailer Zalando is expanding cosmetics delivery to five new markets: Belgium, France, Italy, Denmark and Sweden. The company previously offered cosmetics only in Germany, Poland and Austria. JD.com has expanded its partnership with UK-based online luxury fashion retailer Farfetch and agreed to merge its Toplife luxury shopping platform into Farfetch China. This document was generated for
Company Earnings UpdateKohl’s (NYSE: KSS) Fiscal 4Q18 Results: Revenues Down, Comps Up, Positively Impacted by Competitor Store Closures Coresight Research March 7, 2019 Executive Summary Kohl’s reported fiscal 4Q18 revenues of $6.82 billion, beating the consensus estimate of $6.58 billion, and down 3.3% year over year. The company reported 4Q18 EPS of $2.24, higher than the consensus estimate of $2.18, and up 19.8% from the year ago period. Comparable sales on a shifted basis increased 1% for the quarter and increased by 1.7% for the year. For fiscal FY19, the company expects earnings per diluted share of $5.80-6.15, higher than the consensus estimate of $5.75. Management projects comparable sales of 0% to 2.0%, compared to the consensus estimate of 0.9%. This document was generated for
Company Earnings UpdateUrban Outfitters (NYSE: URBN) Fiscal 4Q19 Results: Revenues Up, Comps Up, Plans to Open Net 15 New Stores in 2019 Coresight Research March 7, 2019 Executive Summary Urban Outfitters reported fiscal 4Q19 revenues of $1.13 billion, up 3.7% year over year. The company reported 4Q19 adjusted EPS of $0.83, up 20.3% from the year ago period. Comparable sales were up 3.7% year over year. By brand, comparable retail sales increased 4% at Free People, 4% at Urban Outfitters and 2% at Anthropologie. Wholesale comparable sales increased by 3%. For fiscal FY20, the company plans to open 28 new stores and close 13 stores, with a net of 15 new stores across its banners. This document was generated for
Company Earnings UpdateRoss Stores (NYSE: ROST) Fiscal 4Q18 Results: Beats Estimates, Plans to Open 100 Stores in 2019 Coresight Research March 7, 2019 Executive Summary Ross Stores reported fiscal 4Q18 revenues of $4.1 billion, up 1% year over year and above the $4.0 billion consensus estimate. The company reported 4Q18 EPS of $1.20, up from $1.19 in 4Q18, beating the $1.12 consensus estimate. The company’s comparable sales, which excludes the impact of acquisitions and sales and are expressed at constant exchange rates, were up 4% in 4Q18 compared to a 5% increase in 4Q17. For fiscal 1Q19, Ross Stores forecasts comparable sales growth of flat to up 2% and projects EPS to be $1.05–1.11. The company expects revenue growth of 3–6% year over year in 1Q19. The company plans to add 22 new Ross Dress for Less (Ross) and 6 dd’s Discounts stores in 1Q19. This document was generated for
Company Earnings UpdateDollar Tree (NASDAQ: DLTR) 4Q18 Results: Beats on Comps and EPS, Announces 2019 Store Optimization Plan of Renovations and Closures Coresight Research March 7, 2019 Executive Summary Dollar Tree reported 4Q18 revenues of $6.21 billion, down 2.4% year over year and in line with the consensus estimate. Adjusted EPS was $1.93, up 2.5% and beating consensus by a penny. Enterprise comps increased 2.4%, beating the 1.4% consensus; Dollar Tree comps grew 3.2%, beating the 2.9% consensus; and, Family Dollar comps increased 1.4%, beating the consensus estimate of flat growth. The company announced a plan for improving results at Family Dollar, planning to renovate 1,000 stores, including potentially closing 390 and rebranding 200 others under the Dollar Tree banner in 2019. For 2019, the company expects revenues of $23.45-23.87 billion (up 3.0-4.6%), below consensus, and EPS of $4.85-5.25 (down 4-11%), also below consensus. This document was generated for
