Insight ReportDixons Carphone (LON: DC) Christmas 2015 Results Coresight Research December 25, 2016 Executive Summary Dixons Carphone reported group comps of 5% for the 10 weeks ending January 9, 2016. The company saw solid underlying growth in its core UK operation as well as in Southern Europe, and more moderate positive growth in the Nordic countries. The company now expects full-year profit before tax to be slightly ahead of consensus, at £440–£450 million (US$663–678 million). Dixons Carphone announced plans to cut store numbers by 134 in the UK and Ireland as it brings its three fascias—Currys, PC World and Carphone Warehouse—into merged 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
Analyst CornerWeekly Insights Dec 23, 2016 Coresight Research December 23, 2016 Executive Summary This week’s note “From the Desk of Deborah Weinswig” discusses how the Brexit vote impacted the UK economy in 2016 and details our expectations for the country’s economy in 2017. Fred’s Pharmacy has signed an agreement with Walgreens Boots Alliance and Rite Aid to purchase 865 stores across the Eastern and Western US, along with assets related to store operations, for a total of $950 million in cash. Total UK retail sales jumped by an exceptional 6.1% year over year in November, the Office for National Statistics reported. The increase was up from an already strong 6.0% jump in October. Internet pure plays, whose sales increased by 28% year over year, boosted the overall figures. As Amazon plans to enter Southeast Asia next year with its launch in Singapore, Lazada, Southeast Asia’s largest e-commerce site, is expanding its delivery network via partners in China and South Korea. Lazada, already present in Indonesia, Malaysia, the Philippines, Singapore, Thailand and Vietnam, has 12 warehouses and 92 distribution centers in the region. 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 ReportMetro Group Demerger: Capital Markets Day 2016 Coresight Research December 20, 2016 Executive Summary Metro Group will demerge into two companies in mid-2017: Metro, a food retailer and wholesaler, and Ceconomy, a consumer electronics retailer that operates mainly under the Media Markt and Saturn banners. Presentations from the wholesale and food retail division emphasized that Metro is predominantly a wholesaler; that Metro Cash & Carry stores are being tailored to different demands; and that its retail stores are being made more inspirational places to shop. Presentations from the electronics division noted Ceconomy’s scale; the dynamism of the European consumer electronics market; how Ceconomy has been transformed in recent years; and opportunities for growth. 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 ReportH&M (STO: HM-B) Monthly Sales Update: Weakening Growth In in November And and The the Full Year Coresight Research December 19, 2016 Executive Summary Total sales for November rose by 9% year over year in local currencies versus 10% in October. In 4Q16, sales grew by 7% in local currencies and 8% in Swedish krona (SEK). In FY16, H&M increased sales by 7% in local currencies and 6% in SEK. 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 CoverageNotes from CVS Health 2016 Annual Analyst Day: Driving More Affordable, Accessible and Effective Care Coresight Research December 19, 2016 Executive Summary CVS Health held its annual analyst day on December 15 in New York City. The main topics of the meeting were the company’s long-term growth drivers and its three main objectives: to make care more affordable, more accessible and more effective. CVS possesses the most extensive suite of industry-leading assets among its competitors. These provide touchpoints across all healthcare stakeholders—including health systems, providers, patients, the senior living segment, employers, government and health plans. CVS believes its pharmacy benefit management (PBM) business continues to be the best-positioned PBM. The business saw another successful selling season and is continually innovating to meet the latest healthcare challenges. The complexity of patients’ needs and of the market requires a broad set of interventions, and CVS’s stakeholders are seeking simplification. CVS’s unique, integrated PBM + Specialty model is best positioned to meet the diverse and complex needs of patients, payers and providers. CVS’s retail pharmacy business can be the best partner for all PBMs and health plans because it can leverage all of the company’s enterprise assets and offer a menu of bundled services that can provide significant value to payers. The front store business can support the pharmacy business and drive margins, particularly in health and beauty categories and in store brands. CVS reaffirmed its long-term financial targets of 10% growth in adjusted EPS and $7–$8 billion in annual cash generation for enhancing shareholder value through dividends, share repurchases and acquisitions. 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 PresentationPrimark Overview Coresight Research December 16, 2016 Executive SummaryThe Primark Product Offer Primark is focused on semi-disposable fashion at ultralow prices. Its product offer spans: Fashion, casual wear, and basics Formalwear (suits, shirts, ties) Shoes Accessories(handbags are prominent) Housewares(soft furnishings & decorative items) Beauty and costume jewellery Luggage 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 Dec 16, 2016 Coresight Research December 16, 2016 Executive Summary This week’s note “From the Desk of Deborah Weinswig” discusses the US arrival of smaller-format grocery stores such as Amazon Go, Walmart Pickup with Fuel and Lidl, as well as their demand drivers and some of the challenges they may face. Nordstrom launched its first chatbot on the Facebook Messenger and Kik messaging services to help holiday shoppers find gift items. The chatbot helps users select gifts by asking them a series of questions about the person they are shopping for. It then chooses gifts from Nordstrom’s online store that match their answers. Amazon.com’s drone delivery program has lifted off—from a rural corner of England. Last week, Amazon made its first customer delivery by drone. The drone carried a package containing popcorn and a Fire TV video-streaming device several miles to a two-story farmhouse near Cambridge in 13 minutes. 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 (TSE:HBC) Releases the Robots Coresight Research December 16, 2016 Executive Summary Hudson’s Bay Company (TSE:HBC) recently announced the deployment of a $60 million Perfect Pick case shuttle system that covers the entire vertical height of the building in which it has been installed. The system has the capacity to hold 1 million units of inventory and to process 4,200 customer orders per hour. The Perfect Pick system uses autonomous carriers that carry items horizontally and vertically along a rack-style structure, bringing goods to an operator. Other vendors’ systems rely on autonomous vehicles that move across the warehouse floor. Market research firm IDC expects spending on robotics and related services to hit about $84 billion this year and to grow at a 17% CAGR during 2015–2019. The firm expects China to drive much of this market growth. The investment by Hudson’s Bay comes four years after Amazon’s $775 million acquisition of Kiva Systems, and it represents a significant validation of the return on investment that a major traditional retailer can see from a robotics system. 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 ReportBoohoo.com (LSE: BOO) Boohoo.com Raises FY17 Revenue Guidance and Acquires PrettyLittleThing Coresight Research December 15, 2016 Executive Summary Boohoo.com announced a trading update and the acquisition of PrettyLittleThing, a smaller, fast-growing, online fashion pure play. Boohoo.com said that trading trends have been strong since it reported 1H17 results on September 27, and it raised its guidance for FY17 revenue growth to 38%–42% from 30%–35%. The company also raised its FY17 EBITDA margin guidance to 11%–12%, up from previous guidance of around 11%. 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 ReportProfiling NearSt, a Search Engine to Find Products Locally Coresight Research December 15, 2016 Executive Summary In this report, the latest in our series of retail-tech company profiles, we look at NearSt, an e-commerce service that enables users to buy from shops locally. We met Nick Brackenbury, founder of NearSt, to talk about how the idea behind his business came about and discuss the opportunities, challenges and the future plans for the company. 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 ReportInditex (BME:ITX) 9M17 Results: Continued Strong Sales Performance Coresight Research December 15, 2016 Executive Summary Inditex reported 9M17 EPS of €0.71, an increase of 9.1% over 9M16 and slightly below the consensus estimate of €0.72. The company reported that revenue (store and online) increased by 11.3%, to €16.4 billion, in line with the consensus estimate. Constant-currency 9M17 sales increased 14.5% year over year and same-store sales remained strong, with positive comps in all geographic regions. EBIT increased by 9.3% to €2.8 billion, in line with the consensus estimate. 9M17 EBIT margin contracted by 30 basis points year over year to 17.2%. Inditex’s results were supported by store and online expansion and very strong comps. Constant-currency store and online sales increased by 16.0% year over year during the period of November 1 to December 12, 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
Insight ReportMetro Group (DB:MEO) FY16 Results: Metro Sales Fall Slightly on Negative Currency and Portfolio Effects Coresight Research December 15, 2016 Executive Summary Metro Group reported net sales of €58.4 billion in FY16, a fall of 1.4% from FY15 and close to the consensus estimate of €58.8 billion. The company attributed the decline to negative currency and portfolio effects. Sales in local currency grew by 0.4% and comps grew by 0.2%. The operating margin grew by 139 basis points to 2.6%. Adjusted EPS was €1.96, up by 2.62% from FY15 and beating the consensus estimate of €1.78. Metro stated that it met its expectations for FY16. It forecasts a slight increase in sales and EBIT before special items in excess of €1,560 million in FY17. 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 DiveOnline Grocery Series: Germany – Playing Catch-Up Coresight Research December 12, 2016 Executive SummaryThis is the fourth in our series of reports analyzing online grocery markets around the world. Germany lags other markets in grocery e-commerce. Online grocery sales in German accounted for only 1.2% of total grocery sales as of June 2016, according to Kantar Worldpanel, much lower than in both France and the UK. The strong presence of discounters, which traditionally do not sell online, the high density of smaller food stores and the reluctance of German shoppers to pay by credit card are the main factors that have slowed down the development of grocery e-commerce in the country. The number of shoppers buying groceries online in Germany has been increasing. According to an IfD Allensbach survey, the number of respondents that claim to have purchased food or beverage online increased by 1.2 million over 2013-15. Amazon is expanding rapidly into grocery e-commerce in Germany. Amazon Pantry was launched at the end of 2015, and many industry observers believe that AmazonFresh may also enter the market soon, although this has yet to be confirmed by the company. Domestic players are responding rapidly to Amazon’s expansion into grocery with their own e-commerce initiatives. All the main domestic brick-and-mortar grocery retailers have started selling online. As a result, the online grocery sector in Germany is expected to grow much faster than that of its more mature neighboring countries in the next few years. 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 ReportWeekly Retail Promo Update Dec 11, 2016 Coresight Research December 11, 2016 Executive Summary Bloomingdale’s is offering fewer promotions and sales this week than it did during the same week last year. The retailer is offering up to one in-store-exclusive promotion this week, versus seven online or in-store-exclusive promotions last year during the same week. In both years, Bloomingdale’s offered mystery discounts of 20%–40% on almost all sale and clearance items, but the promotion was offered only online last year, while this year, it is available online and in-store. The retailer used text message marketing in both years. JCPenney is promoting fewer sales this week than it did during the same week last year. In both years, the retailer had a Green Monday promotion. Last year during the same week, JCPenney ran an online-exclusive shoe sale featuring $26.99 kids’ boots and $49.99 women’s boots as well as a gift card and e-gift card promotion. Kohl’s is running fewer sales this year than it did during the same week last year. In both years, the retailer offered a two-day doorbusters promotion and another two-day promotion along with Kohl’s Cash offers. Last year during the same week, Kohl’s promoted multiple six-hour flash sales throughout the week that featured 20% off sleepwear, activewear, cold-weather gear and sweaters. Macy’s is running fewer promotions this week than it did last year during the same week. The company is focusing on a Green Monday Sale this week by offering 20% or 15% off selected departments, which was also offered last year. The retailer offered a Macy’s Money promotion in both years. Last year during the same week, Macy’s ran a three-day gift sale and a one-day sale featuring 25% off clearance items. 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 ReportRestoration Hardware (RH) 3Q16 Results: EPS Tops Estimate, but Company Lowers FY16 Guidance, Citing Slow Holiday Sales and Business-Model Changes Coresight Research December 9, 2016 Executive Summary Restoration Hardware reported 3Q16 adjusted EPS of $0.20, ahead of the $0.16 consensus estimate but down 69.2% year over year. Revenues rose by 3.1% from the year-ago quarter, to $549.3 million, also beating the consensus estimate, which called for revenues of $527.7 million. Comps, including direct revenues, declined by 6% year over year, compared with a 7% increase in the prior-year period and consensus of (12.8)%. Management attributed the decline to disruption related to the company’s transition from a promotional business model to a membership model, the timing of recognizing membership revenues related to the transition and efforts to reduce inventories. Restoration Hardware lowered its FY16 guidance, citing “consumer softness” related to the US election and a later-than-planned launch of its fall catalog, which has affected sales of its Holiday Collection. The company now expects adjusted EPS of $1.19–$1.29, versus previous guidance of $1.60–$1.80 and the $1.64 consensus estimate. Full-year revenues are now expected to be $2.11–$2.14 billion, which represents growth of 0%–1%, versus previous guidance of 1%–3%. 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
