Store TrackerWeekly Store Openings and Closures Tracker 2019, Week 3: Gymboree to Close 800 Stores, Chico’s Set to Close 250 Stores Over Three Years Coresight Research January 18, 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 1,725 store closures and 1,379 store openings. Children’s apparel retailer Gymboree filed for Chapter 11 protection, plans to close 800 stores. Chico’s will close 250 stores over a three-year period. Shopko has filed for bankruptcy and will close 38 additional stores. Indochino plans to open 20 stores in North America. Macy’s will shutter eight stores. J. Crew will shut at least five stores. Kohl’s will close four stores and open four small format stores. Year to date in 2019, U.K. retailers have announced 220 store closures and 253 store openings. Marks & Spencer has given details on its next round of store closures. Debenhams may close 40 additional stores, on top of the 50 potential closures announced in October. 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
Flash ReportWalgreens Boots Alliance and Microsoft Forge Partnership to Explore Digital Health Opportunities Coresight Research January 18, 2019 Executive SummaryOn January 15, Walgreens Boots Alliance (WBA) and Microsoft announced a seven-year strategic partnership to explore opportunities in digital health. Four key aspects of the partnership are: WBA and Microsoft will work on developing a connected, consumer-centric healthcare delivery and management platform to improve access to healthcare. The companies will also focus on providing more personalized healthcare services, leveraging Microsoft’s cloud and artificial intelligence (AI) technology platform Azure. The companies will establish a single platform to better connect consumers, providers, pharmaceutical manufacturers and payors. WBA will migrate the majority of its IT infrastructure to Microsoft Azure as Microsoft becomes WBA’s strategic cloud provider. This document was generated for
Company Earnings UpdatePrimark (LSE: ABF) 1Q19 Trading Update: Store Expansion Lifts Sales Coresight Research January 18, 2019 Executive Summary Primark grew revenues 4% year over year, at both constant currency and actual exchange rates in the 16 weeks ended January 5. The company missed the consensus estimate recorded by StreetAccount. Primark saw a “modest decline” in comparable sales. The company plans to open 900,000 square foot of retail space in fiscal 2019. This document was generated for
Company Earnings UpdateCasino Group (ENXTPA: CO) 4Q18 Update: French Protests Drag on Sales Growth Coresight Research January 18, 2019 Executive Summary Casino Group reported a weak 4Q18 in its core French market, with French comparable sales excluding Cdiscount up 0.5%, versus 1.9% in 3Q18 and below the consensus estimate of 1.1%. The weakness in France was evident across formats except the discounter Leader Price, which turned in consensus-beating comparable sales growth of 2.1%. Management noted that Monoprix’s e-commerce sales grew double-digits, supported by sales via Amazon Prime Now and a “sharp acceleration” in Monoprix’s online fashion business. This document was generated for
Analyst CornerWeinswig’s Weekly January 18, 2019 Coresight Research January 17, 2019 Executive Summary This week’s note “From the Desk of Deborah Weinswig” sums up the discussion of the future of physical stores that we heard at NRF 2019: Retail’s Big Show this week. Bellwether chains Macy’s Inc., Kohl’s Corp. and Target Corp. all tumbled in premarket trading on Jan. 10 after Macy’s cut its annual earnings forecast and Kohl’s reported disappointing seasonal sales growth. Retail sales growth in the U.K. was flat year over year in December, while comparable sales declined 0.7 percent, despite retailers slashing prices. Retail traffic declined 2.6 percent during the month. Amazon’s expansion in India into areas such as payments, food retail, content, digital voice assistance and customer support has resulted in nearly 1,300 job listings in the country, the highest number of Amazon openings in the Asia-Pacific region. This document was generated for
Deep Dive10 Tech Startup Trends Reshaping Retail in 2019: Get Ready for Digital Disruption Coresight Research January 17, 2019 Executive SummaryRetail has undergone a significant transformation over the past decade, and continues to evolve quickly. At the heart of the transformation are new digital trends that are driving fast-changing consumer preferences – and putting amazing new tools into retailers’ hands. In 2019, the industry will be shaped by emerging technologies that change the way consumers interact with brands, while retailers will collaborate more than ever with tech startups to future-proof their businesses. We’ve identified the top 10 tech trends for 2019 that we believe will drive and enable retail to become stronger and better equipped to serve evolving consumer demand, to understand consumer behavior and create increasingly customized offerings. Tech, brands and retailers will work together to automate apparel manufacturing We’ll see an increase in blockchain in supply chain, e-commerce and CRM Last-mile delivery will proliferate as consumer expectations rise Reality technology will become more commonplace — and a disruptor Computer vision will be used more to improve e-commerce Retailers will use more data-driven models to increase personalization Voice search will become more commonplace Companies will adopt more IoT technology to gather better in-store data E-sport startups will get more funding Healthtech will transform the consumer landscape 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 CoverageNRF 2019 Day 3: Hearing About Mission-Driven Brands, China’s Digital Leadership and How Inclusion Can Fuel Growth Coresight Research January 16, 2019 Executive SummaryThe Coresight Research team was on hand for the third and final day of the National Retail Federation’s (NRF) Big Show in New York City as 39,000 attendees wrapped up three days at one of the retail industry’s most important events. These are some of the things we found most interesting on day 3: Brands must stand for something to remain relevant. The Chinese consumer is leading the way in digital. And the Chinese consumer wants luxury. Cannabis and gender fluid brands are reaching new consumers. Inclusion fuels growth. Merging physical interactions with digital engagement creates frictionless retail. This document was generated for
Company Earnings UpdateBoohoo (LON: BOO) 3Q19 Trading Update: Sales Surge Prompts Raise in Full-Year Revenue Guidance Coresight Research January 16, 2019 Executive Summary British online fashion retailer Boohoo Group reported a 43% year-over-year increase in revenues on a constant-currency basis, for the four months ended December 31, ahead of consensus expectations. Robust sales were driven by growth across all geographic regions, with particularly strong momentum in the U.S. Group gross margin expanded 170 basis points year over year to 54.2%. Boohoo raised its revenue guidance and now expects FY19 revenue growth of 43%–45%, versus 38%–43% previously. This document was generated for
Insight ReportUS Holiday Comparable Sales Growth Results: A Mixed Picture So Far Coresight Research January 15, 2019 Executive Summary Those US retailers that have reported holiday 2018 sales so far have posted mixed comparable sales growth. Big-box retailers, Costco and Target, posted strong top-line numbers: Costco reported total same-store sales growth of 6.1% for December, ahead of the consensus estimate of 4.8%, while Target posted 5.7% same-store sales growth. Department-store retailers showed mixed performance with Kohl’s posting solid holiday comps while JCPenney reported further negative same-store sales growth. Macy’s underwhelmed and lowered its full-year guidance. Specialty retailers such as Boot Barn and Urban Outfitters performed well, posting strong same-store growth, helped by robust online sales. Click here to read Coresight’s coverage on US holiday retail and gain key retail insights for 2019 and prior years. 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 CoverageNRF 2019 Day 2: Challenging Old Paradigms Coresight Research January 15, 2019 Executive SummaryThe Coresight Research team was on hand for the second day of the National Retail Federation’s (NRF) Big Show in New York City. These are some of the things we found most interesting on day 2: Artificial intelligence (AI) is helping retailers across the entire supply chain. Bricks and mortar still matter, even in the digital age. Retail talent is critical. Target CEO Brian Cornell noted four keys to success in retail. AI can be used to insert virtual products in media, in a personalized way. This document was generated for
Insight ReportNew Retail Briefing #1: JD.com and Alibaba Restructure Coresight Research January 15, 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 new fortnightly series, we will cover important developments in New Retail in China. JD.com will restructure its operations with JD Mall, the company’s main revenue-generating unit. Alibaba already restructured its cloud and Tmall business to form the New Retail Technology business unit. Alibaba opened its first physical store in Malaysia, working with a local private company Lumahgo and local lifestyle furniture retailer Lorenzo. Tmall Luxury Pavilion added a new maison-style store format on its redesigned app, which lets brands customize digital editorial content and storefronts all in the Tmall app. Alibaba’s logistics arm Cainiao signed a memorandum of understanding with Russian air-freight carrier Volga-Dnepr to strengthen its cross-border delivery services. 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 Big Is the Global Legal Cannabis Market? Coresight Research January 14, 2019 QUESTION OF THE WEEK: How Big Is the Global Legal Cannabis Market? Answer: The market is expected to reach $24.4 billion in 2019 and $63.5 billion by 2024, a compound annual growth rate of 21%, according to Ameri Research. This document was generated for
Event PresentationThe AI Revolution is Here – Presentation at NRF 2019 Coresight Research January 14, 2019 Executive SummaryArtificial Intelligence (AI) is akin to giving the computer a human-like brain and AI-powered devices can learn, make decisions and solve problems. AI underlies all aspects of the Retail Ecosystem. Click here to view our reports on AI in retail. This presentation was delivered at NRF 2019 and includes: Definitions and applications of AI AI across geographies and sectors The CORE Framework for AI in Retail The future of AI in retail 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 CoverageNRF 2019 Day 1: The Big Apple’s Big Show Does Not Disappoint Coresight Research January 14, 2019 Executive SummaryThe National Retail Federation’s (NRF) Big Show kicked off in New York City on Sunday, Jan. 13. The Coresight Research team was on hand to keep up with the latest retailing trends. First, this was one of the busiest opening days we’ve seen in years: Many breakout sessions were fully booked! These are some of the other things we found most interesting on day 1: Trust and authenticity are the new currency for retail. Sustainability continues to gain traction. Retailers are reimagining stores. Digital-first brands are looking to create more physical experiences. Learnings from going from digital to brick and mortar. This document was generated for
Flash ReportAlibaba Strengthens Its Presence in Digitalization Consulting with A100 Partnership Program Coresight Research January 14, 2019 Executive SummaryAlibaba has grown from simple online marketplace to a digital commerce powerhouse, with operations in sales, marketing, product delivery, supply chain, logistics and data analytics — pretty much the whole nine yards. At an event in Hangzhou, the company announced the launch of a new collaborative program called A100. Companies that participate in the program will get a one-stop shopping experience for a wide range of e-commerce solutions, basically tapping into the entire Alibaba ecosystem. This includes digital entertainment services and local services, sales, logistics, supply chain optimization, payments, marketing and a wide range of supporting services all powered by cloud-based technologies. Another advantage for A100 participants is being able to leverage the vast pool of data Alibaba has collected over the years. This document was generated for
