Insight ReportApril 2018 Monthly Consumer Update: US, UK and China Coresight Research May 30, 2018 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 Consumer Update rounds up key metrics that reflect consumer demand in the US, the UK and China. We focus on direct, leading indicators of the health of the consumer economy: wage growth, price changes and retail sales growth. Highlights from our April Consumer Update: In the US, wage growth and retail sales growth softened slightly, while gas-price inflation strengthened further. In the UK, retail sales growth was weak due to an earlier Easter. Automotive fuel-price inflation accelerated sharply. In China, food-price inflation eased significantly, and retail sales growth returned to around 9% year over 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
Company Earnings UpdateFoot Locker (FL) 1Q18 Results: Beats on EPS, Misses on Comps Coresight Research May 30, 2018 Executive Summary Foot Locker reported 1Q18 adjusted EPS of $1.45, up 6.8% from $1.36 a year ago and beating the $1.25 consensus estimate. Revenues were $2.03 billion, up 1.2% year over year and above the $1.96 billion consensus estimate. Comps declined by 2.8%, beating the consensus estimate of a 3.9% decline. Management did not update guidance, however, it commented that it expects comps to turn positive during the year. 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 UpdateFoot Locker (FL) 1Q18 Results: Beats on EPS, Misses on Comps Coresight Research May 30, 2018 Executive Summary Foot Locker reported 1Q18 adjusted EPS of $1.45, up 6.8% from $1.36 a year ago and beating the $1.25 consensus estimate. Revenues were $2.03 billion, up 1.2% year over year and above the $1.96 billion consensus estimate. Comps declined by 2.8%, beating the consensus estimate of a 3.9% decline. Management did not update guidance, however, it commented that it expects comps to turn positive during the year. 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
Deep DiveArtificial Intelligence in Retail, Part 1: Applications Across Customer-Facing Functions Coresight Research May 29, 2018 Executive SummaryThis report is the first in a short series looking at the application of artificial intelligence (AI) in retail. Here, we explore AI applications across the customer-facing functions of retail. Our proprietary CORE (communication, optimization of pricing, rationalization of inventory and experiential retail) framework demonstrates the applicability of AI in customer-facing functions. The technology can be used for: Communication—online personalization, conversational robots, chatbots and voice shopping. Optimization of pricing—demand forecasting, market and competitor analysis, and promotional strategies. Rationalization of inventory—automated shelf and inventory audits, demand forecasting, automated replenishment, and excess stock reduction. Experiential retail—delivery of new ways to discover, buy and pay. Click here to view more reports on 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
Insight ReportApril 2018 UK Retail Sales: Very Weak Month Due to Earlier Easter Coresight Research May 28, 2018 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 UK Retail Sales Report reviews the latest sector data published by the Office for National Statistics (ONS). Highlights from our April UK Retail Sales Report: April was an exceptionally weak month for year-over-year retail sales growth. Value sales were up just 0.8% year over year and volumes were down 1.2%. An early Easter hit April sales: Easter Sunday fell on April 1 this year versus April 16 last year, and this pulled some Easter-related spending forward into March. The non weighted average of March and April value growth was a more respectable 3.1%. This was comfortably above the rate of shop-price inflation, which stood at 2.0% across March and April. 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 May 25, 2018 Coresight Research May 25, 2018 Executive SummaryMay25, 2018 This week’s note “From the Desk of Deborah Weinswig” discusses recent acquisitions by US retailers in an effort to establish a global presence. Despite rising gas prices, Americans ramped up their spending at the start of spring, signaling that modest wage gains and the recent tax overhaul helped buoy spending. Retail sales rose by a seasonally adjusted 0.3% in April from the prior month. Warehouse club operator BJ’s Wholesale Club has filed for an IPO to list itself on the New York Stock Exchange, marking its bid to become a public company again. House of Fraser may close up to half of its 59 stores in the UK and prompt thousands of job losses if its restructuring plans are approved by its creditors and landlords. 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
Store TrackerWeekly Store Openings and Closures Tracker 2018, Week 21: Sears to Close 40 More Stores Coresight Research May 25, 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 3,992 and the number of store openings is 1,789. Sears has announced it will shutter another 40 Sears and Kmart stores this summer. Toys“R”Us bidder Isaac Larian has withdrawn his offer. Year to date in the UK, there have been 420 store closure announcements and 524 store opening announcements. Marks& Spencer (M&S) announced plans to close a further 14 stores by 2019, or over 100 by 2022. 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 ReportMacy’s Appoints Paula Price as CFO Coresight Research May 25, 2018 Executive Summary On May 23, Macy’s announced the appointment of Paula A. Price as Chief Financial Officer, effective July 9. Price will succeed Karen Hoguet who had previously announced plans to retire at the end of the 2018 fiscal year. Hoguet will remain with Macy’s in an advisory role through February 2, 2019. Price has 30 years of finance experience, mostly from retail and consumer-facing businesses, including as Executive Vice President, CFO of Ahold USA, and Senior VP, Controller and Chief Accounting Officer of CVS Caremark Corporation. She is also a certified public accountant with an MBA from the University of Chicago Booth School of Business. 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 UpdateTarget Corp. (TGT) 1Q18 Results: Misses EPS Guidance, Beats on Comps, Reiterates Guidance Coresight Research May 24, 2018 Executive Summary Target reported 1Q18 adjusted EPS of $1.32, below the consensus estimate of $1.39. Revenues were $16.78 billion, up by 3.4% year over year, and roughly in line with the consensus estimate of $16.58 billion. Comps were up by 3.0%, beating the 2.8% consensus estimate, driven by a 3.7% increase in transactions, offset by a 0.6% decrease in transaction value. Digital sales grew by 28% and contributed 1.1% to comp growth. The company reaffirmed its 2018 guidance for a low single-digit increase in comps and adjusted EPS of $5.15–$5.45, compared to the consensus estimate of $5.28. 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 UpdateMarks & Spencer (LSE: MKS) FY18 Results: Exceptional Costs Hit Profits; Only on “Mile Three or Four of a Marathon” Coresight Research May 24, 2018 Executive Summary Marks & Spencer (M&S) reported a 38% fall in operating profit and a 62% slump in pretax profit in FY18. The declines were largely due to costs related to store closures. Food segment comps were down 0.3% for FY18 and Clothing and Home comps were down 1.9%, with both segments seeing declines deepen in the final quarter. CEO Steve Rowe likened the plan to turn around M&S to a marathon in which the company is currently “only about three or four miles in.” 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 UpdateLOWE’S (LOW) 1Q18 Results: Misses Consensus but Raises Annual Revenue Growth Guidance Coresight Research May 24, 2018 Executive Summary Lowe’s reported 1Q18 adjusted EPS of $1.19, up by 15.5% year over year, but missing the consensus estimate by two cents. Net sales were $17.36 billion, up by 3.0% year over year, but below the $17.46 billion consensus estimate. Comps increased by 0.6%, missing the 3.2% consensus estimate. Lowe’s reaffirmed its EPS guidance of $5.40–$5.50 and its comp guidance of up 3.5% and raised its revenue growth guidance to 5% from 4%. 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
Event CoverageWhat We’re Hearing at ICSC RECon 2018: 10 Takeaways on Retail Real Estate Coresight Research May 23, 2018 Executive SummaryThe Coresight Research team is attending the ICSC RECon convention, which is taking place in Las Vegas May 20–23. Here, we feature some takeaways from our conversations with the retail real estate executives in attendance. Experiential retail and the reinvention of shopping centers are the dominant topics of conversation. Many shopping centers are dedicating more space to food-service offerings, but that share of space has a natural cap. A popular view among attendees is that food service has an upper limit in the high teens in terms of percentage of mall square footage that can be practically devoted to it. The mall experience is not just about food service, though. Malls’ diversification beyond retail involves a mix of leisure and entertainment venues, gaming and virtual-reality concepts, art installations, business services, and other nonretail uses. Some shopping-center landlords we talked to are feeling more positive about store closures. The strongest landlords view closures as an opportunity to rebalance their tenant mix and improve their offerings. 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 UpdateUrban Outfitters (URBN) Fiscal 1Q19 Results: Beats on EPS, Revenue and Comps Coresight Research May 23, 2018 Executive Summary Urban Outfitters reported fiscal 1Q19 EPS of $0.38, up from $0.10 in the year-ago quarter and above the $0.31 consensus estimate. Total revenues were $855.7 million, up 12.4% year over year and above the $838.4 million consensus estimate. Total comps increased by 10% during the quarter, beating the 8.9% consensus estimate. Comps were driven by double-digit growth in online sales and increases in store traffic, average order value and units per transaction. Urban Outfitters did not provide quantitative guidance for FY19.The company plans to open 17 new stores during the fiscal year and anticipates that the digital channel will remain a strong sales growth driver. 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 UpdateTJX (TJX) Fiscal 1Q19 Results: Misses on EPS, but Raises FY19 Guidance Coresight Research May 23, 2018 Executive Summary The TJX Companies reported fiscal 1Q19 adjusted EPS of $0.96, below the consensus estimate of $1.02. Revenues were $8.69 billion, up 11.6% year over year and beating the consensus estimate of $8.47 billion. Comps were up 3.0%, beating the 2.5% consensus estimate. Marmaxx comps of 4.0% beat the 2.3% consensus estimate, while comps for HomeGoods, TJX Canada and the International business were below consensus estimates. The company raised its FY19 revenue guidance to $37.7–$37.9 billion from $37.6–$37.8 billion previously. The company maintained its comp guidance of 1%–2% growth and raised the low end of its EPS guidance range; management now expects full-year EPS of $4.75–$4.83 versus $4.73–$4.83 previously. The consensus EPS estimate is $4.84. 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 UpdateKOHL’S (KSS) 1Q18 Results: Progress in Operations Boosts Earnings and Profitability Coresight Research May 23, 2018 Executive Summary In 1Q18,Kohl’s reported total revenues of $4.21 billion, up 3.5% year over year. Adjusted EPS was $0.64, beating the $0.50 consensus estimate and up from $0.39 in the year-ago quarter. Comp sales were up 3.6% from the year-ago quarter. Reported operating profit of $210.0 million exceeded the consensus estimate of $178.9 million. Margin performance was driven by a clean inventory position, localization of inventory management and speed initiatives that resulted in improved operational agility and a decrease in permanent and promotional markdowns. Management raised its guidance for FY18 and now expects adjusted EPS of $5.05–$5.50, versus $4.95–$5.45 previously. 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
