Company Earnings UpdateL’Oréal (ENXTPA: OR) 1Q17 Update: Beats Expectations in Another Strong Quarter Coresight Research April 19, 2017 Executive Summary Cosmetics giant L’Oréal saw another robust quarter in 1Q17, reporting comparable sales growth of 4.2%. This was ahead of expectations, but marked a sequential slowing from the prior quarter. Unusually strong demand for luxury products, especially in Asia, underpinned growth. Comps in the Asia-Pacific region accelerated strongly, to 7.1%, while North America comps came in at 3.8%, a weakening from the previous quarter. 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 UpdateGroupe Casino (EPA: CO) 1Q17 Trading Update: Business in LatAm Shines While Weakening in France Coresight Research April 19, 2017 Executive Summary Groupe Casino reported 1Q17 revenues of €9,321 million, up by 11.6% from the previous year and up by 3.1% on an organic basis. Comps grew by 2.5%. Sales in France fell by 1.0% and organic growth was (0.5)%. Comps grew slightly by 0.2%. Sales in Latin America jumped by 30.2%, with 7.7% organic growth, and comps grew by 4.6%. E-commerce sales grew by 1.5% (2.8% organic growth) and comps grew by 4.0%. Management confirmed that it expects group operating profit to grow by 10% at current exchange rates. 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) 1Q17 Update: In-Line Top Line but Meaningful Weakening Across Regions Coresight Research April 18, 2017 Executive Summary Carrefour reported comparable group sales rose 1.4% in 1Q17, marking a significant sequential weakening from 2.9% comparable sales growth in 4Q16. French comps came in at 0.5%, weaker than in the prior quarter, with supermarket and hypermarket formats seeing softer growth. International comps were up 2.1% in 1Q17, with Latin American sales growing at a more modest pace than in the final quarter of 2016. 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 CornerWeekly Insights Apr 14, 2017 Coresight Research April 14, 2017 Executive Summary This week’s note “From the Desk of Deborah Weinswig” discusses the deluge of negative headlines that have been published recently about the US retail sector, despite solid retail sales and consumers’ continued positive sentiment about visiting physical stores. One Wall Street firm estimated that Amazon will account for the majority of US online sales by 2021, helped by the popularity of its Prime membership program and its marketplaces. UK retail sales fell by 1% on a comparable basis in March, according to the British Retail Consortium. Total sales were down 0.2%, their first decline since August last year, impacted by Easter falling in March last year versus April this year. As it works to battle Amazon and Alibaba, Indian ecommerce giant Flipkart confirmed that it has raised $1.4 billion in new funding, at a post-money valuation of $11.6 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
Company Earnings UpdateTESCO (LSE: TSCO) FY17 Results: Exceptional Costs Lead to Net Loss Coresight Research April 13, 2017 Executive Summary Exceptional items led Tesco to report a net loss of £54 million and a loss per share of 0.49 pence in FY17. Exceptional items included a £235 million charge over historical profit misstatements. Revenues of £55.9 billion came in ahead of the consensus estimate. Stripping out exceptional items, operating profit of £1.28 billion exceeded expectations of £1.26 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
Company Earnings UpdatePrada (HK:1913) FY16 Results: Very Tough Year, Although Trends Improved in Second Half Coresight Research April 13, 2017 Executive Summary Prada reported revenue of €3,184 million for FY16, down 10.3% year over year and slightly higher than the consensus estimate of €3,182 million. Reported EPS was €0.11 for the period, down almost 16% and below the consensus estimate of €0.12. The weakness in the top line in FY16 was due to declines across all regions and product categories. The Asia-Pacific region and the leather goods product category suffered the steepest declines. Profitability metrics also fell,and the company’s operating margin contracted by 70basis points year over 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 DiveDeep Dive: Building Customer Engagement Through NFC Technology Coresight Research April 11, 2017 Executive SummaryThere are two ways near field communication (NFC) tags can help retailers gain competitiveness: 1) by building customer engagement throughout the product lifecycle; and 2) by creating a more interactive and personal shopping experience for shoppers visiting the store. Retailers can “think like brands” by including NFC technology in their own products, such as private-label apparel ranges. This would enable them to engage with shoppers post-sale, for example, by sending customers branded content or practical information. NFC tags can also be deployed as in-store technology to enable brick-and-mortar retailers to capitalize on their physical presence by engaging with shoppers visiting the store. Survey data show US consumers tend to prefer NFC tags over competing technologies such as QR codes and Beacons, and appreciate the speed, convenience and control they have when using it. 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 ReportLVMH (ENXTPA: MC) 1Q17 Results: Standout Quarterly Sales Coresight Research April 11, 2017 Executive Summary LVMH Moët Hennessy Louis Vuitton increased its revenues by 15% year over year in 1Q17, to €9,884 million, ahead of the consensus estimate of €9,521 million. Revenues jumped 13% year over year on an organic basis. The Asia, Europe and US markets all achieved positive sales growth in the quarter. The very strong results were driven by standout sales growth across all five business segments. The Fashion & Leather Goods and Wines & Spirits segments saw the strongest organic sales growth, at 15% and 13%, respectively 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 ReportWalgreens Boots Alliance (WBA) FY2Q17 Results: WBA Misses on EPS and Revenues, Though Maintains FY Guidance Coresight Research April 10, 2017 Executive Summary Walgreens Boots Alliance reported FY2Q17 EPS of $1.36 versus expectations of $1.37. Total revenues were $29.45 billion, below consensus of $30.18 billion. In the US, revenues were $21.81 billion, below expectations of $22.00 billion, and comps were up 2.4%, better than consensus of 2.2%. Management reaffirmed its full-year EPS guidance of $4.90–$5.08; consensus is $5.00. As previously disclosed, the company no longer expects any material accretion from Rite Aid in fiscal 2017. 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
Deep DiveDeep Dive: India Rising Part 3— E-Commerce Enablers in India Coresight Research April 7, 2017 Executive SummaryThis is the third report in our India Rising series focusing on the Indian startup ecosystem. In this report, we look at various e-commerce enablers—firms such as logistics providers and software solution providers that provide support functions in the online retail process. Enabling functions take up some 19% of the total revenue of stable-growth Indian e-commerce firms. In 2015, India spent about $302 billion, or 14.4% of its GDP, on logistics and transportation. We estimate that online retailers in India spent some $1.8 billion on technology for running their websites and apps in 2015. The Indian digital payments market was worth some $50 billion in 2016 and is expected to grow tenfold to $500 billion in 2020. We believe that e-commerce enablers have enormous growth potential in the still-young online retail sector in India, as domestic e-tailers are not yet large enough to justify bringing enabling functions completely in-house. 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
Deep DiveDeep Dive: Luxury E-Commerce Evolution Coresight Research April 7, 2017 Executive Summary We are witnessing the proliferation of online multibrand retailers and aspirational fashion platforms. These companies provide global infrastructure and distribution for luxury brands such as Yoox Net-A-Porter, Matchesfashion.com, Farfetch, and Mytheresa.com. The strong growth of online pure-play luxury retailers has demonstrated that shoppers are keen to purchase luxury goods online. The growth in online luxury shopping is poised to continue. For a challenged and sluggish luxury goods sector, e-commerce has emerged as an important growth engine. Multibrand online retailers are taking share from US department stores such as Neiman Marcus, Saks Fifth Avenue, Bloomingdale’s and Nordstrom. The luxury goods sector was slow to expand into e-commerce, but now players are vying for a share of the fast-growing online luxury market. E-commerce is the fastest-growing distribution channel globally for luxury goods. McKinsey & Company forecasts that e-commerce will account for 18% of total luxury sales in 2025, up from 8% in 2016. 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 CornerWeekly Insights Apr 7, 2017 Coresight Research April 7, 2017 Executive Summary This week’s note “From the Desk of Deborah Weinswig” recounts the retail insights shared by Macy’s Executive Chairman Terry Lundgren and Debenhams Chairman Sir Ian Cheshire at the World Retail Congress this week in Dubai. Avery Dennison has announced a global radio frequency identification (RFID) partnership with Target. The agreement is part of Target’s deployment of RFID technology to more than 1,600 stores to help maximize inventory availability and deliver an enhanced guest experience. Coty announced that it has entered into an agreement to acquire the long-term global licensing rights for Burberry’s beauty and fragrances business for $162 million, plus a $63 million payment for inventory. WeChat, China’s most popular social media platform, is planning to expand its e-commerce and payment services for brands in Europe. The company wants to work with European brands to enable them to sell their products through its Chinese online retail platform. 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 ReportBurberry Abandons In-House Strategy and Licenses Beauty Business to Coty Coresight Research April 5, 2017 Executive Summary Burberry announced that it will once again license its makeup and fragrance brands, this time to Coty, following four years of in-house management. The move marks another major strategy reversal for the group. Under the deal, Coty will acquire the beauty business for £180 million and pay ongoing royalty payments. The exclusive licensing agreement will take effect in October 2017. Burberry will still maintain control over consumer-facing aspects such as packaging, marketing, and the creative look and feel of the collections. Analysts view the move favorably, as beauty is a highly competitive category and the Burberry beauty division was underperforming. Furthermore, the strategy falls in line with the company’s ongoing focus on cost cutting and profitability. 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) Fiscal 4Q16 Results: Weak Comps, Merchandising Improvement in Progress Coresight Research April 5, 2017 Executive Summary Hudson’s Bay Company reported fiscal 4Q16 normalized EPS of C$0.01, versus C$0.79 in the prior-year quarter. Revenue was C$4.6 billion, up 2.5% year over year. Comparable store sales declined by 1.2% for the overall company, primarily due to high levels of markdowns. Comps grew by 0.6% at DSG (the Lord & Taylor, Hudson’s Bay and Home Outfitters banners) and by 0.1% at Saks Fifth Avenue. Those increases were offset by declines of 2% at HBC Europe (the Galeria Kaufhof, Galeria Inno and Sportarena banners) and 5.9% at HBC Off Price (the Saks Off 5th and Gilt banners). The company shared its plans to optimize assortments across banners. It expects to combine inventory at Saks Off 5th and Gilt by the end of the year. At Hudson’s Bay bannered department stores and Lord & Taylor stores, the company plans to grow key categories such as active, dress and home. Saks Fifth Avenue stores will introduce buy-online, pick-up-in-store service in the fall. 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 UpdateASOS (AIM: ASC) 1H17 Results: Weak Pound, Strong International Sales Drive Growth; Company Raises FY17 Revenue Forecast Coresight Research April 5, 2017 Executive Summary ASOS reported 1H17 revenue growth of 37.5% to £911.5 million. At constant currency, revenue grew by 31%. Adjusted EPS increased by 43.7% to 26.3 pence. For FY17, ASOS aims to grow sales in the range of 30%–35%, helped by sterling weakness and the resulting foreign-exchange benefits. 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
