Company Earnings UpdateJCPenney (JCP) 4Q17 Results: Mixed Quarter, Company Guides in Line with Consensus Coresight Research March 5, 2018 Executive Summary JCPenney reported 4Q17 revenues of $4.03 billion, up 1.8% year over year but below the $4.05 billion consensus estimate. Adjusted EPS was $0.57, beating the $0.47 consensus estimate and down from $0.64 in the year-ago quarter. Comparable sales were up 2.6%, slightly below the consensus estimate of 2.7%. Comparable sales for the full year were up 0.1%. The company expects FY18 same-store sales growth of 0.0%–2.0%, compared with the consensus estimate of 0.7%. The company expects adjusted EPS of $05–$0.25, compared with the consensus estimate of $0.20. 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) 4Q17 Results: Misses on Comps, Guides for Flat–Low-Single-Digit Comps in 2018 Coresight Research March 5, 2018 Executive Summary Foot Locker reported 4Q17 adjusted EPS of $1.26, below the $1.37 year-ago figure and above the $1.25 consensus estimate. Revenues were $2.21 billion, up 4.6% year over year and slightly below the $2.22 billion consensus estimate. Comps declined by 3.7%, missing the consensus estimate of a2.4% decline. The company guided for flat–low-single-digit comp growth in FY18, versus the consensus estimate of 1.0%. The company expects its gross margin to recover from the 2017 level and for SG&A to rise by one percentage point. 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—Glass-Media Coresight Research March 5, 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. Glass-Media, one of the pitch competition participants, provides a digital marketing solution for brick-and-mortar retailers and brands. By using the company’s display technology and cloud-enabled software and analytics platform, retailers can align their offline and online marketing campaigns, improve content relevance and engage with consumers in a more experiential way while capturing key performance indicators such as customer engagement data. 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
Insight ReportCountdown to Shoptalk: Startup Pitch Competition Participant Profile—StoreDNA Coresight Research March 5, 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. 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 CoverageTop Takeaways from the TrendSeeder Innovation Series: New Retail Formats Panel Coresight Research March 2, 2018 Executive SummaryThis week, the Coresight Research team attended a TrendSeeder Innovation Series panel called“New Retail Formats, ”which was co-hosted by 24 Seven, TrendSeeder and Davis & Gilbert in New York City. TrendSeeder CEO Avani Patel moderated the panel discussion among industry experts that covered themes such as retail technology, showrooming and improving the customer experience. Here, we share our top takeaways from the event. Retail’s biggest competitor is the consumer’s couch because consumers can sit on the couch and order whatever they want. To address this, mall operator Westfield is working on technology that simulates the “Amazon Now” experience and enables retailers to track inventory in real time and offer nearly immediate delivery. Best-in-class retail is about providing consumers with one-on-one personal experiences,which may start with education, style suggestions or help with fitting. Products, services and experiences are blending into one retail category. The retail opportunity today lies in taking an initial consumer need and providing something more. 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—PopCom Coresight Research March 2, 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. PopCom, one of the pitch competition participants, provides a software and hardware solution for kiosks and vending machines to help retailers understand the data behind purchases, which can then be used to improve and automate the self-service customer experience. 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 UpdateLowe’s (LOW) 4Q17 Results: Misses and Guides Below Consensus on EPS Coresight Research March 2, 2018 Executive Summary Lowe’s reported 4Q17 adjusted EPS of $0.74, below the $0.86 year-ago figure and missing the $0.87 consensus estimate. Net sales were $15.49 billion, down 1.8% year over year but above the $15.35 billion consensus estimate. Comps increased by 4.1%, ahead of the 3.1% consensus estimate. The company guided for FY18 revenues to increase by 4%, slightly above the consensus estimate, and for EPS of $5.40–$5.50, below the $5.87 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 UpdateKOHL’S (KSS) 4Q17 Results: Beats on EPS and Revenue, Guides Up for FY18 Coresight Research March 2, 2018 Executive Summary Kohl’s reported 4Q17 revenues of $6.78 billion, up 9.2% year over year and above the $6.74 billion consensus estimate. Adjusted EPS was $1.99, beating the $1.77 consensus estimate and up from $1.44 in the year-ago quarter. Comp sales were up 6.3% from the year-ago quarter, below the 6.5% consensus estimate and compared with the prior-year quarter’s 2.2% decline. Comps were driven by a 6.9% increase from the combined November and December holiday period. Kohl’s expects FY18 adjusted EPS of $95–$5.45, versus the consensus estimate of $4.72. The company projects revenue growth of (1)%–1%, implying revenues of $18.90–$19.29 billion, compared with the consensus of $19.07 billion, or 0.1% growth. 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 UpdateZalando (XTRA: ZAL) FY17 Results: Price Pressures and Higher Fulfillment Costs Weigh on Margins Coresight Research March 2, 2018 Executive Summary In FY17, Zalando grew revenues by 23.4%, toward the upper end of the guided range. It grew gross merchandise volumes (GMV) by 26.5%. Price competition in some European markets, coupled with higher fulfillment costs, depressed margins. Net profit fell by 15.7% versus analyst estimates of a 2% increase. 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 CoverageTakeaways from Fashion Group International’s “The Making of a Beauty Entrepreneur” Panel Coresight Research March 2, 2018 Executive SummaryThis week, the Coresight Research team attended Fashion Group International’s “The Making of a Beauty Entrepreneur” panel in New York City. The event was sponsored by Cosmoprof North America and featured a panel of four beauty industry leaders who spoke candidly about their personal and professional entrepreneurial journeys. Here, we share our takeaways from the event. The right time to launch a brand is when the entrepreneur has a story, passion, and an opportunity. Timing is a personal choice and there will never be a perfect time to launch, so the panelists advise that entrepreneurs organize, prepare and plan, but also operate with agility. Product transparency is not a choice for beauty brands today—consumers now demand it. Brands should distribute through a variety of channels, but all decisions should be driven by a focused and strategic mind-set. 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 March 2, 2018 Coresight Research March 2, 2018 Executive Summary This week’s note “From the Desk of Deborah Weinswig” discusses where we currently stand on the artificial intelligence adoption curve. Investments in grocery-anchored shopping centers in the US in 2017 climbed 5.3% from 2016, making the sector one of the only retail sectors to see deal growth in a year of low transaction volume. British conglomerate Associated British Foods (ABF) reported a preclose trading update for the 24 weeks ended March 3, 2018. ABF said that it expects Primark’s sales to have risen by 7% at constant currency and by 9% as reported during the first half, driven by increased selling space. Rumors that Alibaba was planning to acquire Ele.me, one of the major online food delivery platforms in China, have been confirmed by an insider close to the deal. The current valuation of the platform is about $9.5 billion. 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 9: Charlotte Olympia Files for Bankruptcy, Closing All Stores Coresight Research March 2, 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 2,050 and the number of store openings is 1,548. CharlotteOlympia filed for bankruptcy, shuttering its four retail stores in the US. Best Buy closes all of its 250 small-format mobile-phone stores in the US as part of a strategy of continuous optimization. Vitamin Shoppe plans to close approximately 10 stores and open two stores. 99 Cents Only names Jack Sinclair as its new CEO. Nordstrom reportedly nears go-private offer by the Nordstrom family. 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 UpdateTJX Companies (TJX) Fiscal 4Q18 Results: Comps Beat Estimate, Company Guides Up for FY19 Coresight Research March 1, 2018 Executive Summary TJX Companies reported fiscal 4Q18 revenues of $10.96 billion, up 15.8% year over year and above the $10.76 billion consensus estimate. Adjusted EPS was $1.19, below the $1.27 consensus estimate and up from $1.03 in the year-ago quarter. Comp sales were up 4% from the year-ago quarter versus guidance of 1%–2% and the 2.1% consensus estimate. The company expects FY19 adjusted EPS of $73–$4.83, versus the consensus estimate of $4.67. For 1Q19, the company expects adjusted EPS of $0.85–$0.87, compared with the $0.97 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 UpdateCarrefour (ENXTPA: CA) FY17 Results: Profits Fall amid Tough Conditions and €1 Billion Charge Coresight Research March 1, 2018 Executive Summary Carrefour announced a 14.7% fall in recurring operating income in FY17, yielding a decline in operating margin from 3.1% in FY16 to 2.5% in FY17. The company noted price pressures, higher costs and higher depreciation charges as pressuring its operating margin. Adjusted net income was down 25% year over year and well below expectations. Net income was hit by €1 billion in charges relating to goodwill in Italy and the DIA store network in France. 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 ReportAmazon Offers 5% Back for Amazon Prime Rewards Visa Card Users at Whole Foods Coresight Research February 28, 2018 Executive Summary On February 20, Amazon and Whole Foods Market announced that Amazon Prime Rewards Visa cardmembers would earn 5% back on Whole Foods Market purchases. These rewards supplement the regular rewards offered, which include 5% back on all Amazon.com purchases; 2% back at restaurants, gas stations and drugstores; and 1% back on all other purchases. Amazon Rewards Visa cardmembers who are not Prime members will earn 3% back on Whole Foods purchases when using their card, in addition to 3% back on all Amazon.com purchases; 2% back at restaurants, gas stations and drugstores; and 1% back on all other purchases. The new offer represents yet another benefit to encourage consumers to become Prime members and also serves as an effective cross-marketing tool between Amazon and Whole Foods. 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
