Company Earnings UpdateUnder Armour (NYSE: UAA) 4Q18 Results: Revenue and EPS Beat Consensus Estimates; Company Maintains Outlook for FY19 Coresight Research February 13, 2019 Executive Summary Under Armour reported 4Q18 sales of $1.39 billion, beating the consensus estimate of $1.38 billion; and, $0.09 adjusted EPS, beating the consensus estimate of $0.04. Sales from apparel and footwear missed the consensus estimates. But accessories, licensing and connected fitness revenues beat the consensus estimates. For FY19, the company expects revenue growth to be 3-4%, reflecting an anticipated low-double-digit percentage increase in its international business, offset by relatively flat results for North America. The company expects to report EPS of $0.31-0.33 in FY19. This document was generated for
Insight ReportJanuary 2019 US Same-Store Sales: Costco Misses Consensus, L Brands Comps Decline Coresight Research February 12, 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 January US Same-Store Sales report: Costco’s same-store sales growth in January slowed from December 2018 and was lower than consensus. Costco’s international business looked strong, led by growth in Spain, Taiwan and Korea. Among specialty retailers, comparable sales at Buckle and L Brands fell further in January, 2.2% and 1.0% respectively, following declines in December 2018. Cato posted healthy comp growth as it benefitted from favorable weather this year. 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: Retail REITs — An Industry in Flux Coresight Research February 12, 2019 Executive SummaryEach of our Sector Overview reports provides an essential briefing on a sector or market. Themes in U.S. retail REITs include: Vacancy rates are declining and rent asking rates are increasing. All malls are not created equal — just 20% of U.S. “A” malls generate 72% of all mall sales. Changes in U.S. store traffic and other metrics remain negative. Store openings and closures are affecting the retail mix. Retail REITs are welcoming more non-traditional occupants, particularly food. 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 ReportNew Retail Briefing #3: Walmart China Eyes Retail Innovation; A.S. Watson and Unilever Agree to New Retail Partnerships Coresight Research February 12, 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 on New Retail in China. Walmart China launched “Omega8,” an initiative to help tech startups test technology projects. Beauty and health retailer A.S. Watson and Netease’s Yanxuan opened a lifestyle store in Guangzhou. Unilever signed a cooperation agreement with JD Supermarket to develop its New Retail capabilities, including developing new products based on consumer behavior data. 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 WeekHow Many Mobile Phone Subscriptions Are There in China? Coresight Research February 11, 2019 QUESTION OF THE WEEK: How Many Mobile Phone Subscriptions Are There in China? 1.57 billion — more than one subscription for every man, woman and child. This document was generated for
Insight ReportUnderstanding the Asian Retail Market, Including Eight Insights from China: Deborah Weinswig’s CES 2019 Presentation Coresight Research February 11, 2019 Executive SummaryOn January 9, 2019, Deborah Weinswig, CEO and Founder of Coresight Research, presented on the subject of “Understanding the Asian Retail Market,” focusing on eight things people can learn from China. These are some of the highlights: Coresight Research’s proprietary CORE framework for AI in retail can help retailers understand where this technology can be deployed in their businesses. The framework consists of: Communication, Optimization of pricing, Rationalization of inventory and Experiential retail. Chinese companies have invested significantly in last-mile delivery systems. Key opinion leaders, video consumption and a word-of-mouth shopping culture are important to the Chinese shopping journey. 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 UpdateL’Oréal (ENXTPA: OR) FY18 Results: Highest Comparable Sales Growth in Over a Decade Coresight Research February 11, 2019 Executive Summary L’Oréal reported FY18 revenues of €26.93 billion, up 4% year over year and beating the €26.8 billion consensus estimate. L’Oréal reported FY18 EPS of €7.08, up from €6.65 in FY17, but slightly below the €7.11 consensus estimate. L’Oréal’s comparable sales, which excludes the impact of acquisitions and sales and are expressed at constant exchange rates, grew remarkably by 7.1% in FY18, marking its best year of growth since 2007, following a strong 4Q18 increase of 7.7%. For FY19, consensus calls for revenue and adjusted EPS growth of 6% and 9%, year over year, respectively. This document was generated for
Company Earnings UpdateCoty (NYSE: COTY) Fiscal 2Q19 Results: Revenues Down But Luxury Beauty Up; Beats Analysts’ Estimates Coresight Research February 11, 2019 Executive Summary Coty fiscal 2Q19 revenues were $2.51 billion, down 4.8% year over year and beating the consensus estimate of $2.47 billion. Coty reported 2Q19 adjusted EPS of $0.24, up 60% from the year ago period and beating the consensus estimate of $0.22. Sales in the luxury division, the company’s largest division, increased 7.0% year over year, consumer beauty sales decreased 15% year over year, and professional beauty revenues decreased 4% year over year. The company did not provide quantitative EPS and revenue guidance for FY19. However, management said the company anticipates a profit trend recovery in the second half of FY19 and expects FY19 constant currency adjusted operating income will be moderately below FY18 and cash flow positive for FY19. This document was generated for
Market Navigators/Market OutlookSector Overview: US Home and Home Improvement Retailers — Mixed Signals in a Time of Bounty Coresight Research February 8, 2019 Executive SummaryEach of our Sector Overview reports provides an essential briefing on a sector or market. Themes in U.S. home and home improvement include: Interest rates remain on the rise. U.S. consumer confidence appears to have peaked. Consumer spending preferences are still directed at home improvement. Data on housing permits, starts and completions are mixed but remain high. U.S. existing home sales growth is slowing at a faster pace. U.S. home prices are up 5% year to date through November 2018, based on the S&P/Case-Shiller index. Lowe’s senior management changes and reboot promise operational improvements and modernization at the company. RH is positioning itself as much more than just a hardware store; calling its stores “galleries” and seeing itself building a luxury platform and brand with a “discerning level of taste.” 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 ReportAmazon Outpaces the UK and German E-Commerce Markets in 2018 Coresight Research February 8, 2019 Executive SummaryOn February 1, 2019, Amazon posted its 10-K full-year financial report, giving us a yearly look at its revenues by region. We review Amazon’s growth in the U.K. and Germany in 2018. We estimate that Amazon grew U.K. revenues 23.3% in 2018, just below 2017’s growth of 24.9% and faster than total U.K. Internet retail sales growth of 14.5% in 2018. In Germany, Amazon revenues climbed 12.1% in 2018, according to our calculations. This compared to an estimated 9.4% increase in total Internet retail sales and Amazon Germany’s 17.5% growth in 2017. In 2018, Amazon captured a 31% share of U.K. Internet retail sales and a 47% share of German Internet retail sales, according to Euromonitor International estimates. 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 FEBRUARY 8, 2019 Coresight Research February 8, 2019 Executive Summary This week’s note “From the Desk of Deborah Weinswig” discusses what Amazon’s 10-K form, filed last week, reveals about its international progress, non-e-commerce growth and third-party sales. Simon Property Group, the largest mall owner in the U.S., has been grappling with how to deal with an onslaught of store closures and CEO David Simon said in a call with analysts that the company was “concerned about a few” retail bankruptcies that may occur in the first quarter. U.K. total retail sales grew 2.2% year over year in January, the strongest growth since June, according to the British Retail Consortium (BRC)-KPMG Retail Sales Monitor. Comparable sales increased by 1.8% year over year, driven by strong food sales and price inflation. Alibaba-owned e-commerce company Lazada announced that it will integrate RedMart, a Singapore-based e-grocer, into its platform on Mar. 15. The move is part of Lazada’s efforts to grow its supermarket business in Southeast Asia. This document was generated for
Company Earnings UpdateTapestry (NYSE: TPR) 2Q19 Results: Improved Margin Performance at Coach but Revenues Miss Consensus Coresight Research February 8, 2019 Executive Summary Tapestry reported flat 2Q19 EPS on a modest 0.9% sales increase. The Coach brand proved nicely profitable with a 30.3% adjusted operating margin while Kate Spade and Stuart Weitzman were in transition with early indications of traction. Revenue and EPS guidance modestly reduced reflecting 2Q19 results and the unstable global environment. This document was generated for
Company Earnings UpdateSkechers (NYSE: SKX) 4Q18 Results: EPS Beats Consensus Estimate but Revenues and Comps Miss Coresight Research February 8, 2019 Executive Summary For 4Q18, Skechers reported $1.08 billion in sales, missing the $1.1 billion consensus estimate, and $0.31 EPS, beating the $0.23 consensus estimate. Mainly driven by international stores, comparable same-store sales were up 1.1% in company-owned retail stores during the quarter. The company estimated sales will be $1.275 billion to $1.3 billion and EPS will range from $0.70 to $0.75 in 1Q19. This document was generated for
Company Earnings UpdateMacerich (NYSE: MAC) 4Q18 Results: Results Meet/Beat Estimates, 2019 FFO Guidance Below Consensus Coresight Research February 8, 2019 Executive Summary Macerich reported adjusted 4Q18 FFOPS of $1.09, in line with the consensus estimate. Revenues were $246.9 million, beating the $244.1 million consensus estimate but down 3.8% year over year. Mall tenant sales per square foot increased 10% to $726 in the year, and same-center operating income grew 4.2% in Q4. The company guided for 2019 adjusted FFO of $3.65-3.73, below the $3.77 consensus estimate. This document was generated for
Company Earnings UpdateHanesbrands (NYSE: HBI) 4Q18 Results: Champion and International Segment Driving Results Coresight Research February 8, 2019 Executive Summary Hanesbrands reported solid 4Q18 sales growth driven by International and Champion. Champion achieved 50%+ sales growth during 4Q excluding the mass channel. Management provided initial guidance for FY19 of 1%-3% sales growth and adjusted EPS of $1.72-$1.80 versus $1.71 adjusted FY18 EPS. This document was generated for
