Company Earnings UpdateHome Depot (NYSE: HD) 4Q18 Results: Misses on Revenues and Comps, Guides Below Consensus, Housing Starts and Permits Down Coresight Research February 27, 2019 Executive Summary Home Depot reported 4Q18 EPS of $2.09, up 37.2% and beating the $2.16 consensus estimate (excluding a $0.16 charge.) Revenues were $26.49 billion, slightly below consensus. Comps were up 3.2%, missing the 4.5% consensus estimate. US comps were up 3.7%. The company guided for 2019 comp growth of 5.0% and sales growth of 3.3%, in line with consensus, and EPS of $10.03, below the $10.26 consensus estimate. Separately, the Commerce Department announced that December housing starts fell 11.2% year over year on a seasonally adjusted basis. Housing permits increased 0.3% year over year. This document was generated for
Flash ReportMarks & Spencer Confirms Joint Venture with Ocado Coresight Research February 27, 2019 Executive Summary The UK’s Marks & Spencer (M&S) and Ocado Group have announced the creation of a 50/50 joint venture. M&S is acquiring a 50% share of Ocado’s UK retail business, for a total consideration of up to £750 million. A combined M&S-Ocado service offers M&S a way to sell online while circumventing the unfavorable economics of its typically small basket sizes. This document was generated for
Company Earnings UpdateAssociated British Foods (LSE: ABF) 1H19 Update: German Weakness Drags Down Eurozone Growth and Prompts Marketing Investment Coresight Research February 26, 2019 Executive Summary Associated British Foods (ABF) issued a pre-close trading update for 1H19, which ends March 2, 2019. This report focuses on Primark, ABF’s retail division. First-half comparable sales at Primark are expected to be down 2% and total sales are expected to be up 4% both as reported and at constant currency; both figures are broadly in line with consensus. UK comparable sales are expected to be flat year over year. Eurozone comps are expected to be down 3%, with Germany continuing to prove weak. This document was generated for
Insight ReportNew Retail Briefing #4: Suning.com Expands to Department Stores, Alipay Available at Walgreens Coresight Research February 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: Suning.com acquired all 37 department stores of leading Chinese property developer Wanda Group and will convert the stores to smart retail formats. Alibaba’s digital payment solution Alipay can now be used at US pharmacy chain Walgreens stores, making it easier for people visiting from China to shop there. Alibaba acquired an 8% stake in Bilibili, a Chinese online video platform targeting young people. 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 CoverageCountdown to Shoptalk 2019: Startup Pitch Competition Participant Profile, Part 5 — ShoppingGives and Fillogic Coresight Research February 26, 2019 Executive SummaryThe Coresight Research team will attend and participate in Shoptalk 2019 March 3-6 in Las Vegas. The event brings together more than 8,000 attendees and more than 300 speakers to discuss rapid evolution of how consumers discover, shop and buy. On March 3, Coresight Research CEO and Founder Deborah Weinswig will emcee a startup pitch competition featuring 15 early-stage technology companies. Judges will select two winners for a $25,000 prize. Participating startups all have: $3 million or less in funding. Four years or less since founding. Scalable and innovative solutions for physical retail, omnichannel and e-commerce. Business-to-business (B2B) solutions. Below, we look at two of the companies that will compete: ShoppingGives and Fillogic. This document was generated for
Insight Report2019 Tax Tracker #3: Tax Filings Continue to Narrow the Gap with Last Year Coresight Research February 26, 2019 Executive SummaryThe US Internal Revenue Service (IRS) tracks tax return filings on a weekly basis. As of February 15, the IRS had received 39.7 million tax returns, down 4.8% year over year. A total of 23.5 million refunds had been issued as of that date (down 26.5% year over year), totaling $62.0 billion (down 38.8% year over year) and averaging $2,640 (down $529 or 16.7% year over year). The drop is in returns filed is likely due to confusion from tax law changes, combined with reduced availability of IRS agents due to the government shutdown. Given a solid US economy, higher wages and employment rates, total refunds are likely to be higher in 2019, now that the disruption from the government shutdown has been resolved. 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
Question of the WeekWhich US Age Group Is Most Willing to Pay More for Clothing Produced in an Environmentally Friendly Way? Coresight Research February 25, 2019 QUESTION OF THE WEEK: Which US Age Group Is Most Willing to Pay More for Clothing Produced in an Environmentally Friendly Way? A new Coresight Research survey shows US consumers ages 60 and above are the most willing to pay more for environmentally friendly clothing, followed closely by the 18-29 age group. This document was generated for
Company Earnings UpdateWayfair (NYSE: W) 4Q18 Results: Beats Consensus on Revenues and EPS; 1Q19 Guidance in Line Coresight Research February 25, 2019 Executive Summary Wayfair reported 4Q18 adjusted EPS of $(1.12), beating the $(1.28) consensus estimate. Revenues were $2.01 billion, up 40.0% and slightly beating the $1.97 billion consensus. U.S. Direct Retail accounted for 85% of revenues and grew 39.2%. International Direct Retail accounted for 14% of revenues and grew 49.8%. The company guided for 1Q19 revenues of $1.87–1.915 billion, in line with the consensus estimate of $1.89 billion. This document was generated for
Company Earnings UpdateVipshop (NYSE: VIPS) 4Q18 Results: Active Customers Increase Thanks to WeChat Mini Programs, but Revenue Growth Slows Coresight Research February 25, 2019 Executive Summary Vipshop reported 4Q18 revenue of ¥26.1 billion, up 8.1% year over year while full year 2018 revenue was ¥84.5 billion, up 15.9% year over year. 4Q18 revenue missed the consensus estimate of ¥26.7 billion. The number of active customers increased 13% year over year to 32.4 million, partly driven by WeChat mini programs. The company estimated total revenue at ¥19.9–20.9 billion for the first quarter of 2019. This document was generated for
Event CoverageCountdown to Shoptalk 2019: Startup Pitch Competition Participants Profile, Part 4 — VisuWall and RetailDeep Coresight Research February 25, 2019 Executive SummaryThe Coresight Research team will attend and participate in Shoptalk 2019 March 3-6 in Las Vegas, bringing together more than 8,000 attendees and more than 300 speakers to discuss rapid evolution of how consumers discover, shop and buy — from new technologies and business models to the latest trends in consumer behaviors, preferences and expectations. On March 3, Coresight Research CEO and Founder Deborah Weinswig will emcee a startup pitch competition featuring 15 innovative, early-stage technology companies. Judges will select two winners for a $25,000 prize. Participating startups all have: $3 million or less in funding Four years or less since founding Scalable and innovative solutions for physical retail, omnichannel and e-commerce Business-to-business (B2B) solutions Below, we look at VisuWall and Retail Deep. This document was generated for
Event CoverageCountdown to Shoptalk 2019: Startup Pitch Competition Participants Profile, Part 3 — Tangiblee and Rapitag Coresight Research February 22, 2019 Executive SummaryThe Coresight Research team will attend and participate in Shoptalk 2019 March 3-6 in Las Vegas. The event brings together more than 8,000 attendees and more than 300 speakers to discuss the rapid evolution of how consumers discover, shop and buy. On March 3, Coresight Research CEO and Founder Deborah Weinswig will emcee a startup pitch competition featuring 15 early-stage technology companies. Judges will select two winners for a $25,000 prize. Participating startups all have: $3 million or less in funding. Four years or less since founding. Scalable and innovative solutions for physical retail, omnichannel and e-commerce. Business-to-business (B2B) solutions. Below, we look at two of the companies that will compete: Tangiblee and Rapitag. This document was generated for
Event CoverageCountdown to Shoptalk 2019: Startup Pitch Competition Participants Profile, Part 2 — Chatter and Shipsi Coresight Research February 22, 2019 Executive SummaryThe Coresight Research team will attend and participate in Shoptalk 2019 March 3-6 in Las Vegas. The event brings together more than 8,000 attendees and more than 300 speakers to discuss the rapid evolution of how consumers discover, shop and buy. On March 3, Coresight Research CEO and Founder Deborah Weinswig will emcee a startup pitch competition featuring 15 early-stage technology companies. Judges will select two winners for a $25,000 prize. Participating startups all have: $3 million or less in funding. Four years or less since founding. Scalable and innovative solutions for physical retail, omnichannel and e-commerce. Business-to-business (B2B) solutions. Below, we look at two of the companies that will compete: Chatter and Shipsi. This document was generated for
Market Navigators/Market OutlookThe US Adaptive Clothing and Footwear Market Represents a $47.3 Billion Largely Untapped Opportunity Coresight Research February 22, 2019 Executive SummaryAdaptive apparel encompasses clothing and footwear designed to meet the needs of people with disabilities or health conditions. More brands and retailers are launching adaptive collections but the adaptive clothing and footwear market remains underserved. Coresight Research estimates the potential global adaptive apparel market will reach $288.7 billion in 2019 and grow to $349.9 billion in 2023. We estimate that the potential U.S. adaptive apparel market will reach $47.3 billion in 2019 and grow to $54.8 billion by 2023. Chronic disease is the leading cause of death and disability in the U.S., according to the U.S. Centers for Disease Control and Prevention (CDC), and about half of American adults have one or more chronic health conditions. People receiving treatment for diseases such as cancer and diabetes often have specific clothing needs that have not been met in the past. Retailers and brands are emerging to solve specific adaptive clothing needs. Nike, Tommy Hilfiger, Target, and Zappos were early adaptive innovators, creating collections beginning in 2016 and 2017. In 2018, department store retailer Marks & Spencer entered adaptive fashion with an Easy Dressing line for children and Nike has introduced a new self-lacing basketball shoe that users operate through a smart phone. Industry events, such as “Design for Disability Galas,” panel event discussions featuring adaptive design, and educational teaching platforms including Parsons Open Style Lab and Begraniz Couture are helping to build industry awareness around the apparel needs of individuals with disabilities. There is an opportunity for retailers to understand adaptive consumers at a macro level and generational level — how and where these consumers want to shop, the technology that they prefer, what their motivations are, and how they wants to be marketed and advertised to. 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) 4Q18 Results: Revenues Miss Expectations as Food Demand Proves “Moderate” and Pharmacy Sales Remain Soft Coresight Research February 22, 2019 Executive Summary Loblaw reported food retail same-store sales growth of 0.8% in 4Q18, versus 0.9% growth in the prior quarter. It reported drug retail same-store sales growth of 1.9% versus 2.5% growth the prior quarter. Total revenues of C$11.2 billion came in below the consensus estimate of C$11.27 billion recorded by StreetAccount. In FY19, the company expects to report positive same-store sales and a stable gross margin in its retail segment. This document was generated for
Store TrackerWeekly Store Openings and Closures Tracker 2019, Week 8: Payless Files for Bankruptcy, Set to Close 2,100 Stores Coresight Research February 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 in 2019, U.S. retailers have announced 4,287 store closures and 1,586 store openings. Payless has filed for bankruptcy and will close 2,100 stores. Hobby Lobby plans to open 65 stores. Wayfair has opened its first brick-and-mortar store. Year to date in 2019, U.K. retailers have announced 285 store closures and 317 store openings. Morphe will open a flagship store in Liverpool. Claire’s has shut its Exeter store. 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
