Event CoverageNotes from Target Store Tour and Technology Demos Coresight Research March 9, 2018 Executive SummaryDuring our trip to Minneapolis to attend the 2018 Target Financial Community Meeting this week, the Coresight Research team also took a guided tour of a Target store and viewed a demonstration of technologies that the company is developing. Selected takeaways from the store visit include: Target has refreshed its women’s private-label collection with several new brands (and more are on the way). The company has redesigned its beauty department to make products more appealing and accessible. Target has also redesigned its home section, which now offers an appealing, curated display of products. Target has separated its order pickup and exchange desks to save customers time. Sales associates are now empowered with handheld devices for checkout and placing online orders. The breadth of Target’s electronics section rivals that of many specialty retailers. Target is promoting its new Goodfellow & Co menswear brand. The company has focused on its fresh-food section and has made it more visually appealing. 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) 4Q17 Results: Company Beats Expectations, Issues Solid Outlook Coresight Research March 9, 2018 Executive Summary American Eagle Outfitters reported 4Q17 revenues of $1.23 billion, up 11.8% year over year and beating the $1.21 billion consensus estimate. Adjusted EPS was $0.44, in line with the consensus estimate and up from $0.39 in the year-ago quarter. Comparable sales were up 8.0% year over year, beating the consensus estimate of 7.2%. The company’s EPS guidance for 1Q18 is $0.20–$0.22, versus the $0.19 consensus estimate. The company expects 1Q18 comps to increase by mid-single digits, compared with the consensus estimate of 3.2%. 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
Analyst CornerWeinswig’s Weekly Mar 9, 2018 Coresight Research March 9, 2018 Executive Summary This week’s note “From the Desk of Deborah Weinswig” discusses the recent announcement by Kohl’s that it plans to carve out space from some of its stores to lease to grocery discounter Aldi. The Nordstrom family made an opening offer to take publicly traded Nordstrom private, but it was not enough, according to a committee representing the board. In February, UK total retail sales grew by 1.6%, a rate slightly higher than January’s. Comparable sales grew by 0.6%, in line with the rise in January. China’s biggest overseas-traded technology companies, from search giant Baidu to Sogou, are investigating ways to float shares on Chinese exchanges as Beijing encourages its largest corporations to bring their listings home. 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 10: Foot Locker to Close 110 Stores, Open 40 this Year Coresight Research March 9, 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 2,160 and the number of store openings is 1,588. Foot Locker to close 100 stores and open 40 during 2018. Albertsons Companies appoints Jim Donald as President and COO. VF Corporation names Velia Carboni as its first Chief Digital Officer. Year to date in the UK, there have been 76 store closure announcements and 491 store opening announcements. 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 UpdateTakeaways from the 2018 Target Financial Community Meeting Coresight Research March 8, 2018 Executive SummaryThe Coresight Research team attended the 2018 Target Financial Community Meeting in Minneapolis this week. Selected takeaways from the event follow. Target has embarked on a $7 billion-plus investment program to drive growth. The company ended 2017 on a financial high note. 2017 was about defining the plan; 2018 is about accelerating the plan to become “America’s easiest place to shop.” The company is focused on newness and innovation to improve the digital experience. Target is investing in its team through training, tools, advancement opportunities and pay raises. The company plans to renovate and open more than 1,000 stores by 2020. Target offers a variety of pickup and delivery options, including Grand Junction, Drive Up and Shipt. The company has completely updated its private-label brands in apparel, hinting that there are more to come this year. Target has ambitious plans for 2018, including store remodels, new small-format stores, new brand launches, and improvement of fulfillment and management of team members. The company plans capital expenditures of $3.5 billion in 2018 to drive profitable growth and offer an outstanding return on invested capital. 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 CoverageCountdown to Shoptalk: Startup Pitch Competition Participant Profile—Breinify Coresight Research March 8, 2018 Executive SummaryThe Coresight Research team will be attending and participating in the Shoptalk 2018 conference in Las Vegas March 18–21. Billed as the world’s largest conference devoted to retail and e-commerce innovation, Shoptalk will cover “the 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 18, Coresight Research CEO and Founder Deborah Weinswig will emcee a startup competition between 15 innovative, early-stage companies at Shoptalk. Two winners will be announced, one chosen by a panel of judges and one by audience vote, and each will be awarded $25,000. Each day leading up to Shoptalk, Coresight Research will publish an overview of one of the participating startups’ technology solutions. Breinify is an e-commerce recommendation engine that combines external data sets on factors such as weather, events and holidays with user behavior data to enable brands to offer individualized promotions in real time. The company’s artificial intelligence (AI) engine combines machine learning with time-interval algorithms to predict an individual’s time-sensitive interests and drive spur-of-the-moment purchases. On March 20, Weinswig will participate in “Overview of Retail and Ecommerce Innovation in China,” a session that will cover technology and business model advancements in areas such as checkout, payments, delivery, logistics, the Internet of Things (IoT) and robotics. 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 CoverageCountdown to Shoptalk: Startup Pitch Competition Participant Profile—TokyWoky Coresight Research March 7, 2018 Executive SummaryThe Coresight Research team will be attending and participating in the Shoptalk 2018 conference in Las Vegas March 18–21. Billed as the world’s largest conference devoted to retail and e-commerce innovation, Shoptalk will cover “the 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 18, Coresight Research CEO and Founder Deborah Weinswig will emcee a startup competition between 15 innovative, early-stage companies at Shoptalk. Two winners will be announced, one chosen by a panel of judges and one by audience vote, and each will be awarded $25,000. Each day leading up to Shoptalk, Coresight Research will publish an overview of one of the participating startups’ technology solutions. TokyWoky, one of the pitch competition participants, is a peer-to-peer chat platform that enables members of a website’s community to answer other members’ questions in real time. It is the first e-commerce solution that allows shoppers to advise each other in online shops. On March 20, Weinswig will participate in “Overview of Retail and Ecommerce Innovation in China,” a session that will cover technology and business model advancements in areas such as checkout, payments, delivery, logistics, the Internet of Things (IoT) and robotics. 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 (TGT) 4Q17 Results: Beats on Comps, Guidance Roughly in Line Coresight Research March 7, 2018 Executive Summary Target reported 4Q17 adjusted EPS of $1.37, down 5.5% from the year-ago quarter and in line with both the consensus estimate and guidance of $1.30–$1.40. Revenues were $22.77 billion, up 10% year over year and ahead of the $20.53 billion consensus estimate. Comparable sales were up 3.6%, ahead of the consensus estimate of 3.4%, on a 3.2% increase in traffic. The company guided for FY18 EPS of $5.15–$5.45, the midpoint of which is above the $5.21 consensus estimate. The company expects FY18 comps in the low single digits versus the 1.7% 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 UpdateUrban Outfitters (URBN) Fiscal 4Q18 Results: Company Beats Expectations in Solid Quarter Coresight Research March 7, 2018 Executive Summary Urban Outfitters reported fiscal 4Q18 revenues of $1.09 billion, up 5.7% year over year and beating the $1.08 billion consensus estimate. Adjusted EPS was $0.69, beating the $0.63 consensus estimate and up from $0.57 in the year-ago quarter. Comparable sales were up 4.0% year over year,beating the consensus estimate of 2.9%. The company plans to open 17 new stores in FY19 and anticipates that the digital channel will remain a strong sales growth driver for the company. 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 ReportSt. Patrick’s Day Spending Forecast to Hit a Record $5.9 Billion This Year Coresight Research March 7, 2018 Executive Summary According to the most recent annual survey by the National Retail Federation (NRF) and Prosper Insights & Analytics, more than 149 million Americans plan to celebrate St. Patrick’s Day this year, and to spend a record $5.9 billion on items related to the holiday, up from last year’s total of $5.3 billion. Americans are expected to spend an average of $39.65 on the holiday this year, up from $37.92 last year. The survey found that 50% of respondents plan to purchase holiday-themed food, while 41% plan to purchase beverages, 31% apparel or accessories, 26% decorations and 16% candy. 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 ReportKohl’s and Aldi: A Win-Win for an Overspaced Department Store and a High-Growth Grocery Chain Coresight Research March 6, 2018 Executive Summary Kohl’s will be carving out space from 5–10 of its stores and leasing that space to grocery discounter Aldi. Aldi’s average store is 20,000 gross square feet, equating to 23% of a typical Kohl’s full-range store, which measures 88,000 gross square feet. Kohl’s is uniquely positioned among the top tier of US department store retailers to make this move, as many of its stores are located in the kind of open-air centers in which Aldi prefers to locate its own stores. The Kohl’s initiative follows its recent introduction of Amazon technology departments and Amazon returns services at some of its stores. 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: Startup Pitch Competition Participant Profile—StoreDNA Coresight Research March 6, 2018 Executive SummaryThe Coresight Research team will be attending and participating in the Shoptalk 2018 conference in Las Vegas March 18–21. Billed as the world’s largest conference devoted to retail and e-commerce innovation, Shoptalk will cover “the 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 18, Coresight Research CEO and Founder Deborah Weinswig will emcee a startup competition between 15 innovative, early-stage companies at Shoptalk. Two winners will be announced, one chosen by a panel of judges and one by audience vote, and each will be awarded $25,000. Each day leading up to Shoptalk, Coresight Research will publish an overview of one of the participating startups’ technology solutions. In this report, we profile StoreDNA, which integrates brick-and-mortar store data from various sources—such as the point of sale, staff schedules and video feeds—into its digital dashboard. The software-as-a-service (SaaS) solution then provides retailers with recommendations on optimizing assortment, staff levels and store layout via its proprietary, artificial intelligence (AI)–based algorithm. On March 20, Weinswig will participate in “Overview of Retail and Ecommerce Innovation in China,” a session that will cover technology and business model advancements in areas such as checkout, payments, delivery, logistics, the Internet of Things (IoT) and robotics. 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 CoverageCountdown to Shoptalk: Startup Pitch Competition Participant Profile—Flashfood Coresight Research March 6, 2018 Executive SummaryThe Coresight Research team will be attending and participating in the Shoptalk 2018 conference in Las Vegas March 18–21. Billed as the world’s largest conference devoted to retail and e-commerce innovation, Shoptalk will cover “the 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 18, Coresight Research CEO and Founder Deborah Weinswig will emcee a startup competition between 15 innovative, early-stage companies at Shoptalk. Two winners will be announced, one chosen by a panel of judges and one by audience vote, and each will be awarded $25,000. Each day leading up to Shoptalk, Coresight Research will publish an overview of one of the participating startups’ technology solutions. In this report, we profile Flashfood, an online marketplace where grocery stores and food manufacturer scan resell their surplus food directly to consumers at discounted prices. Consumers pay through the Flashfood app and then pick up their food from dedicated Flashfood refrigerators in stores the same day.The company aims to decrease food waste and cut food costs for consumers while offering new revenue streams for vendors. On March 20, Weinswig will participate in “Overview of Retail and Ecommerce Innovation in China,” a session that will cover technology and business model advancements in areas such as checkout, payments, delivery, logistics, the Internet of Things (IoT) and robotics. 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 2Q18 Results: Mixed Quarter, Guides for EPS Below Expectations Coresight Research March 6, 2018 Executive Summary Ascena Retail Group reported fiscal 2Q18 revenues of $1.72 billion, down 1.7% from the year-ago quarter but beating the $1.65 billion consensus estimate. Adjusted EPS was $(0.12), down from $(0.07) in the year-ago quarter and missing the consensus estimate of $(0.09). Comparable sales were down 2%, versus the consensus estimate of a 2.9% decline. The company offered fiscal 3Q18 adjusted EPS guidance of $(0.12)–$(0.07), compared with the consensus estimate of $0.07. The company expects revenues of $1.48–$1.52 billion, compared with the $1.49 billion consensus estimate, and comparable sales of (3)%–(5)%, compared with the consensus estimate of (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 UpdateNordstrom (JWN) 4Q17 Results: Light Quarter, Company Issues Mixed Guidance Coresight Research March 5, 2018 Executive Summary Nordstrom reported 4Q17 revenues of $4.70 billion, up 9.3% year over year and slightly above the $4.62 billion consensus estimate. Adjusted EPS was $1.20, missing the consensus estimate of $1.24. Comps increased by 2.6%, ahead of the consensus of 1.0%. During FY17, Nordstrom experienced significant growth in its customer base and loyalty program. Customer numbers were up 4%, to 33 million. 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
