Company Earnings UpdateMichael Kors (KORS) Fiscal 3Q18 Results: Beats on Top and Bottom Lines and Comps; Raises Guidance for Jimmy Choo Acquisition Coresight Research February 9, 2018 Executive Summary Michael Kors reported adjusted fiscal 3Q18 EPS of $1.77, up 7.6% from $1.64 in the year-ago quarter and handily beating the $1.29 consensus estimate. Revenues were $1.44 billion, up 6.5% year over year and ahead of the $1.38 billion consensus estimate. Comps declined by 3.2% and were down 5.2% on a constant-currency basis, beating the consensus estimate of a 5.9% decline and guidance of a high-single-digit decline. The company offered FY18 EPS guidance of $4.00–$4.45 versus previous guidance and consensus of $4.00. Management expects no incremental EPS impact from the Jimmy Choo acquisition. 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 ReportGameStop Names Company Veteran as New CEO Coresight Research February 9, 2018 Executive Summary On February 6, GameStop appointed Michael Mauler as CEO, effective immediately. A16-year veteran of GameStop, Mauler previously served as EVP and President of the company’s international division. Mauler succeeds J. Paul Raines, who resigned from all duties at the company this week in order to focus on his health and family. 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’s Store No 8 Acquires Virtual Reality Startup Spatialand Coresight Research February 8, 2018 Executive Summary Walmart’s technology incubator, Store No 8, has acquired virtual reality (VR) startup Spatialand. The financial terms of the deal were not disclosed. Spatialand, which worked with Store No 8 on a VR project last year, provides a platform and software tools that enterprises can use to create VR content. Walmart aims to develop and explore new products and uses of VR across its websites and stores. 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 ReportMacy’s Launches Modest Fashion Line Verona Collection Coresight Research February 8, 2018 Executive SummaryMacy’s announced the launch of a modest clothing brand called Verona Collection. Verona Collection will be available on Macys.com on February 15 and will feature a selection of ready-to-wear pieces, including dresses, tops, cardigans, pants, and hijabs in a variety of colors and fabrics. The modest collection is a result of The Workshop at Macy’s, the retailer’s minority- and women-owned business development program. The company founded the program in 2011 to further vendor diversity. The release of the collection follows increased interest in modest clothing and modest fashion marketplaces. Major retailers including Nike and American Eagle Outfitters launched hijab designs in 2017. 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 ReportBig Lots Names Stephen M. Haffer as Chief Customer Officer Coresight Research February 8, 2018 Executive Summary On February 5, Big Lots announced the appointment of Stephen M. Haffer as Senior Vice President, Chief Customer Officer. Haffer will be a member of the company’s Executive Leadership team and hold primary responsibility for customer engagement and messaging touchpoints, including marketing, advertising, brand development and e-commerce. Haffer was previously an executive at American Signature, the parent company of Value City Furniture and American Signature Home stores. 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 ReportHudson’s Bay Company Appoints CVS Health Executive Helena Foulkes as CEO Coresight Research February 7, 2018 Executive SummaryHudson’s Bay Company (HBC) announced the appointment of Helena Foulkes as its new CEO, effective February 19. Foulkes will be responsible for the company’s global strategy and operations for all of its banners. She will also serve on HBC’s Board of Directors. Foulkes comes to HBC after 25 years at CVS Health Corporation. Richard Baker has been acting as HBC’s interim CEO since the departure of Jerry Storch last fall, and will continue as Governor and Executive Chairman. 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 ReportLululemon CEO Laurent Potdevin Resigns Coresight Research February 7, 2018 Executive SummaryLululemon, the healthy lifestyle-inspired athletic apparel company announced that Laurent Potdevin has resigned as CEO and as a member of the company’s Board of Directors, effective immediately. According to the company’s press release, Lululemon expects “all employees to exemplify the highest levels of integrity and respect for one another,” and Potdevin“ fell short of these standards of conduct.” Three executives will assume expanded roles and will report to Glenn Murphy, Executive Chairman of the Board. Lululemon reaffirmed its updated guidance from January 8 and affirmed it is on track to achieve its strategic goal of becoming a $4 billion revenue brand by 2020. 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 ReportJD.com Partners with Fung Retailing to Transform Retail through AI Coresight Research February 7, 2018 Executive Summary On February 2, JD.com, China’s leading online retailer, announced a partnership with Fung Retailing, the retail business arm of Hong Kong conglomerate the Fung Group, to transform the retail landscape using artificial intelligence (AI). We view the partnership as part of JD.com’s Boundaryless Retail Strategy, which aims to transform the company’s retail business into an open platform to support other retailers by providing “retail as a service.” The move will be a big boost to Fung Retailing and the Fung Group’s AI initiatives to improve the consumer retail experience as well as improve its operational efficiency. 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 February 2, 2018 Coresight Research February 2, 2018 Executive Summary This week’s note “From the Desk of Deborah Weinswig” discusses developments in the cashless convenience store landscape since Amazon first announced its Amazon Go format in late 2016. Amazon, Berkshire Hathaway and JPMorgan Chase are partnering on ways to address healthcare for their US employees, with the aim of improving employee satisfaction and reducing costs. Spanish fashion chain Zara has opened a digitally focused concept store at London’s Westfield Stratford City mall that offers a selected range of men’s and women’s clothing for online purchase. Staff members equipped with tablets are available to assist shoppers with purchases and customers can choose from a variety of payment methods. Alibaba’s cloud-computing business is set to assist Malaysia’s government with the running of its capital city and potentially other parts of the country in the future through City Brain, an Alibaba Cloud service that uses big data and artificial intelligence. 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 5: Bon-Ton to Close Five More Stores Coresight Research February 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 1,773 and the number of store openings is 1,510. Bon-Ton might close a further two more stores and sell another three. Nine West is reportedly close to finalizing a deal that would include a bankruptcy filing with asset sales. Revlon President and CEO Fabian Garcia is stepping down. Mattress Firm announced that CEO Ken Murphy will step down and Executive Chairman Steve Stagner will take on the additional CEO responsibilities. Year to date in the UK, there have been 76 store closure announcements and 455 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 UpdateH&M (STO: HM-B) FY17 Results: Sales Growth Slows and Margins Erode as Management Admits “Mistakes” Coresight Research February 2, 2018 Executive Summary H&M reported SEK 200,004 million in net sales excluding VAT in the fiscal year ended November 30, 2017, slightly below the consensus of SEK 203,277 and up by 4.0% year over year. Sales including VAT increased by 3% in local currencies. Diluted EPS contracted by 13.1% to SEK 9.78 during the year and was marginally above the consensus estimate of SEK 9.71. In FY17, sales growth was driven purely by store openings, as H&M increased store numbers by 9%. In FY18, the group plans to open around 390 new stores and close 170 stores, resulting in a net addition of 220 stores. H&M announced the launch of Afound, an off-price marketplace for fashion and lifestyle brands from H&M’s stable as well as from external retailers. 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 ReportSuper Bowl Retail Preview: US Shoppers to Spend $15.3 Billion, Second-Highest Amount on Record Coresight Research January 31, 2018 Executive Summary US consumers will spend an estimated $15.3 billion on Super Bowl-related retail purchases ahead of the February 4 event, according to the National Retail Federation (NRF) and Prosper Insights & Analytics. Spending will be driven by younger consumers, who are more likely to participate in Super Bowl-themed activities than older consumers are, and who tend to spend more when they do participate. 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 ReportAmazon, Berkshire Hathaway and JPMorgan Chase Form Employee Healthcare Partnership Coresight Research January 31, 2018 Executive Summary Amazon, Berkshire Hathaway and JPMorgan Chase announced the formation of a partnership designed to address healthcare for the companies’ US employees. The goal is to improve employee satisfaction and reduce costs. The three companies plan to pursue this goal through an independent, non-profit-seeking company. The new company will initially focus on technology solutions designed to provide the three companies’ US employees and their families with simplified, high-quality and transparent healthcare options at a reasonable cost. 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 ReportHow Machine Learning Can Help Identify Adverse Drug Reactions Coresight Research January 30, 2018 Executive SummaryIn this report, we explore how machine learning can help identify the possibility of adverse drug reactions (ADRs). More than half of Americans regularly take prescription drugs—four of them on average—and 75% of Americans take at least one over-the-counter drug regularly. About 53% of Americans who use prescription drugs get them from more than one provider and 35% state that a healthcare provider has never reviewed their medication to see if they could stop taking it. Annually, US hospital emergency rooms see more than1 million people for ADRs. More than a quarter of these patients need to be admitted for further treatment. Machine-learning algorithms, such as the Apriori algorithm, can run through vast, unstructured data sets of medications, conditions, drug effects, patient histories, and other variables, and calculate the probability of an ADR, to a certain degree. 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 JAN 26, 2018 Coresight Research January 26, 2018 Executive Summary This week’s note “From the Desk of Deborah Weinswig” discusses grocery chain Lidl’s changes in store formats and the outlook for grocery discounters in the US market. Walmart is looking to sell part of its operations in Brazil, where it has struggled for a decade, yet missteps by the US retail giant have narrowed the field of potential buyers and could lower the value of any deal. Amazon has opened its checkout-free grocery store to the public in Seattle, Washington. The Seattle store, known as Amazon Go, uses technologies such as computer vision, sensor fusion and deep learning. UK retail sales climbed by a solid 4.4% year over year in December, supported by clothing stores and department stores/mixed-goods retailers, according to the Office for National Statistics. 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
