Store TrackerWeekly Store Openings and Closures Tracker 2018, Week 23: Hudson’s Bay Co. to Close 10 Lord & Taylor Stores Coresight Research June 7, 2018 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 2018, the number of US store closure announcements stands at 4,123 and the number of store openings is 1,884. Shoe Carnival announced it would close up to 25 stores in 2018. Hudson’s Bay Co. plans to close 10 Lord & Taylor stores by the end of 2019. Walmart announced it would divest 80% of its Brazil operations. Year to date in the UK, there have been 850 store closure announcements and 616 store opening announcements. House of Fraser has confirmed plans for a Company Voluntary Arrangement that would see it close 31 of its 59 UK stores by early 2019. 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 ReportJD.com’s 6.18 Shopping Festival: More than Just Discounts Coresight Research June 7, 2018 Executive Summary JD com first launched its annual 6.18 Shopping Festival in 2010. JD.com’s 6.18 event runs for 18 days beginning on June 1 through to June 18, as compared to rival Alibaba’s popular Singles’ Day held on November 11. This year on June 1 in the first hour alone, JD.com recorded ¥500 million ($78 million) in sales, an increase of 130% from last year. Several brands including Xiaomi, Nestlé and L’Oréal saw strong sales on the first day of 6.18, and total sales on June 1were up 80% year over year. This year, as part of its promotions in the lead up to the start of 6.18, JD.com switched the spotlight from discounts alone to showcase advances in its technology prowess. 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 UpdateFive Below (FIVE) 1Q18 Results: Another Strong Quarter, Supported by Store Openings and Solid Comp Growth Coresight Research June 7, 2018 Executive Summary In 1Q18, Five Below reported a 27.2% increase in net sales year over year and a 3.2% increase in comparable sales. The leveraging of operating costs yielded a 93.3% jump in operating profit. Diluted EPS more than doubled year over year, to $0.39, and was comfortably ahead of the consensus estimate of $0.32. The midpoint of management guidance implies FY18 sales growth of 18.2%. Please Login to read the full report. Not a member? To access this content for free, register for a free account. This document was generated for
Company Earnings UpdateHudson’s Bay Company (HBC) 1Q18 Results: Weak Comps Continue, Company Agrees to Sell Gilt and Close 10 Lord & Taylor Stores Coresight Research June 6, 2018 Executive Summary Hudson’s Bay Company (HBC) reported 1Q18 adjusted EPS of C$(1.22), down from C$(1.15) in the year-ago period and below the C$(0.76) consensus estimate. Revenues were C$3.09 billion, up C$30 million, or 1.0%, from the year-ago quarter. Total comps were down 0.7% on a constant-currency basis, driven by a 6.6% decline at HBC Europe, a 3.5% decline at Saks OFF 5TH and a 0.6% decline at DSG (Hudson’s Bay, Lord & Taylor and Home Outfitters). These declines were partially offset by a 6.0% comp increase at Saks Fifth Avenue and a 7.7% increase in HBC’s digital business. The company announced the divestment of online banner Gilt Groupe to Rue La La and said that it plans to close up to 10 Lord & Taylor stores—including the flagship Manhattan location—through 2019. Please Login to read the full report. Not a member? To access this content for free, register for a free account. This document was generated for
Insight ReportUS Father’s Day Spending Forecast to Hit $15.3 Billion, the Second-Highest Total in Survey’s History Coresight Research June 6, 2018 Executive Summary Spending for Father’s Day, which falls on June 17 this year, is expected to reach a near-record high of $15.3 billion in 2018, down slightly from last year’s record total of $15.5 billion, according to an annual spending survey conducted by the National Retail Federation (NRF) and Prosper Insights & Analytics. Americans are expected to spend an average of $133 per person on the holiday this year, down from $135 per person last year. Top purchase categories for Father’s Day this year include “special outing” experiences (such as dinner or concert and sporting event tickets), clothing and gift cards. Department stores and online websites are expected to see the majority of Father’s Day shoppers. Nearly half of smartphone owners will research gift ideas on their device, up from 33% last 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
Insight ReportZalando (XTRA: ZAL) 2018 Capital Markets Day: Doubling Sales—Margins Can Wait Coresight Research June 6, 2018 Executive SummaryCoresight Research attended Zalando’s Capital Markets Day 2018 in Berlin, Germany, on June 5. Our top takeaways from the meeting include: Zalando is “on track” to double its sales from 2017 levels by 2020, according to Co-CEO Rubin Ritter. The investment needed to achieve this growth means that the company is unlikely to report any meaningful expansion in margins in the next few years. A number of speakers noted that short-term margin sacrifices to enable services such as improved delivery can end up boosting customer lifetime value. Zalando continues to aim for broad appeal and plans to offer an “unlimited assortment” by adding beauty products, bringing more brands on board and building out its special-size options. Through innovative services, the company is attempting to drive out friction in payments, delivery and returns. 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 ReportHudson’s Bay Company Announces Closure of Lord & Taylor’s New York Flagship and Sale of Gilt Groupe to Rival Rue La La Coresight Research June 6, 2018 Executive Summary Canadian retail group Hudson’s Bay Company (HBC) announced that it will close up to 10 of its Lord & Taylor US department store locations, including its iconic flagship store on Fifth Avenue in Manhattan. The Lord & Taylor flagship has been open for 104 years and is expected to close by the end of the year. HBC said that its plans to downsize Lord & Taylor’s store network are a first step toward driving increased profitability and that the company is taking advantage of a smaller store footprint to rethink the model and focus on Lord & Taylor’s digital sales. About two years after acquiring the flash-sales website, HBC agreed to sell Gilt Groupe to Rue La La, a leader in the digital private-sale space. Rue La La seeks to create one large flash-sales entity called Rue Gilt Groupe. Financial terms of the deal were not disclosed. The two brands plan to operate independently of each other. Rue La La will continue selling both high- and low-end products, while Gilt will focus more on higher-end products.The combined group is expected to be the fourth-largest player in the flash-sales space, with 20 million members and reach $1 billion in sales, according to Rue La La CEO Mark McWeeny. Please Login to read the full report. Not a member? To access this content for free, register for a free account. This document was generated for
Flash ReportWalmart Launches Jetblack, a Concierge-Style Personal Shopping Service Coresight Research June 5, 2018 Executive Summary Walmart launched a members-only personal shopping service called Jetblack on May 31. The service was incubated under Walmart’s tech incubator Store No. 8. Jetblack is currently limited to members in Manhattan and Brooklyn, and will roll out to other regions soon. Shoppers need an invitation to become members and the service is available for $50 per month. We view the launch of Jetblack as further evidence of Walmart’s ambitions to expand beyond its traditional shopper base. Please Login to read the full report. Not a member? To access this content for free, register for a free account. This document was generated for
Company Earnings UpdateAscena (ASNA) Fiscal 3Q18 Results: Beats Expectations, Provides Mixed Guidance Coresight Research June 5, 2018 Executive Summary Ascena reported fiscal 3Q18 EPS of $(0.08), down from $0.05 a year ago, but beating the consensus estimate by a penny. Adjusted revenues were $1.50 billion, down 4.0% year over year, but above the $1.47 billion consensus estimate. Comps declined 3%, beating the (3.4)% consensus estimate. Comps declined for Premium Fashion, Value Fashion and Plus Fashion, but increased 10% for Kids Fashion. For 4Q18, the company guided for an adjusted EPS range of ($0.05)–$0.05, with a breakeven midpoint below the $0.03 consensus estimate. Revenue guidance of $1.62–$1.66 billion was ahead of the consensus estimate of $1.58 billion. Comp guidance was flat to up 2%. Please Login to read the full report. Not a member? To access this content for free, register for a free account. This document was generated for
Insight ReportAmazon Prime Day 2018 Preview: Echo Devices and Private-Label Products Look Set to Take Center Stage Coresight Research June 4, 2018 Executive SummaryAmazon Prime Day 2018 will start on July 16, 2018. This year, the company has announced a bigger-than-ever promotional event, which will see more deals and more products on offer for a longer period of time. Amazon is planning to make Prime Day 2018 the biggest sales event in its history by offering more deals on more products and new ways to access the promotions. We expect Amazon to focus this year’s promotions on its own devices—in particular its smart assistant Echo product line—and its private labels in categories such as apparel. We estimate that Amazon will generate around $3.4 billion in sales worldwide during this year’s event, compared to an estimated $2.4 billion last year. Coresight has been covering Amazon Prime Day since it was launched in 2015 and additional reports from can be accessed here. 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 Store Openings and Closures Tracker 2018, Week 22: Claire’s to Close 40 More Stores, Sears Announces Further Closures Coresight Research June 1, 2018 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 2018, the number of US store closure announcements stands at 4,095 and the number of store openings is 1,884. Claire’s says it will close an additional 40 stores while in bankruptcy. Five Below announced it will open 125 new stores this year. Sears announced a further 63 closures. Its CEO has reportedly received inquiries about sales of the retailer’s assets. Year to date in the UK, there have been 631 store closure announcements and 616 store opening announcements. Dixon Carphone has announced plans to close 92 stores amid a decline in contract sales. Poundworld plans to close 117 stores by August. B&M plans to open a further 45 new stores during the year. Hema is looking to have 75 locations in the UK. 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 UpdateDollar General (DG) Fiscal 1Q18 Results: Misses on EPS and Comps, Reaffirms FY18 Guidance Coresight Research June 1, 2018 Executive Summary Dollar General reported 1Q18 EPS of $1.36, up from $1.02 in the year-ago period, but below the $1.40 consensus estimate. Revenues were $6.11 billion, up 9.0% year over year and below the $6.18 billion consensus estimate. Comps were up 2.1%, below the consensus estimate of 3.2%. The comp growth was due to an increase in average transaction value, which was partially offset by a decline in customer traffic. Dollar General reaffirmed its FY18 guidance of sales growth of 9%, implying revenues of $25.58 billion, ahead of the $25.47 billion consensus estimate. The company expects full-year comps of around 2.5%, slightly below the consensus estimate of 2.6%, and EPS of $5.95–$6.15, in line with the $6.08 consensus estimate. Please Login to read the full report. Not a member? To access this content for free, register for a free account. This document was generated for
Company Earnings UpdateAmerican Eagle Outfitters (AEO) 1Q18 Results: Beats Estimates, Reports Solid Comps Across Brands and Channels Coresight Research June 1, 2018 Executive Summary American Eagle Outfitters reported 1Q18 revenues of $823 million, up 8.0% year over year and beating the $811 million consensus estimate. Adjusted EPS was $0.23, above the $0.22 consensus estimate and up 43.8% from the year-ago quarter. Comparable sales were up 9.0% year over year. By brand, American Eagle reported 4.0% comps and Aerie reported 38.0% comps. Digital sales grew by 20.0% in the quarter. For 2Q18, the company anticipates a mid-single-digit comp increase and adjusted EPS of $0.27–$0.29, compared with the consensus estimate of $0.25. Please Login to read the full report. Not a member? To access this content for free, register for a free account. This document was generated for
Flash ReportLVMH Continues Digital Push, Invests in Fashion Search Platform Lyst Coresight Research May 31, 2018 Executive Summary LVMH has led an investment in global fashion search platform Lyst. Lyst did not disclose details of the funds raised, but sources claim that it is in the range of £50–£100 million. Lyst intends to use the fresh funds to expand into new regions and launch local language websites. It also aims to invest further in technology and develop its search algorithms. Bernard Arnault, Chairman and CEO of LVMH, had previously invested in Lyst through his family office. Please Login to read the full report. Not a member? To access this content for free, register for a free account. This document was generated for
Company Earnings UpdateMichael Kors (KORS) 4Q18 and FY18 Results: Double-Digit Growth in Revenues and Expense Cuts Yield Recovery in Profits Coresight Research May 31, 2018 Executive Summary In 4Q18, Michael Kors reported a 10.8% jump in revenues, a 14.5% uplift in gross profit and a 6.0% decline in operating expenses. The company beat expectations on both the top and bottom lines, with adjusted diluted EPS of $0.63 versus the consensus estimate of $0.60. However, revenues declined in its core Americas region, due in part to a planned reduction in inventory in the wholesale channel. Please Login to read the full report. Not a member? To access this content for free, register for a free account. This document was generated for
