Flash ReportCtrip (CTRP) 3Q16 RESULTS: EARNINGS BEAT ON IMPROVED OPERATING EFFICIENCY; ANNOUNCES SKYSCANNER ACQUISITION Coresight Research November 25, 2016 Executive Summary Ctrip, China’s leading online travel agent, reported strong 3Q16 revenues of ¥5.6 billion, up 75.1% year over year. Non-GAAP net profit of ¥0.58 billion beat the consensus estimate of ¥0.34 billion, but was down 77.2% year over year. Management guided for net revenue growth of approximately 70-75% year over year for 4Q16. The company plans to expand further overseas and develop a comprehensive global travel ecosystem to better serve existing and potential customers. 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 DiveThe Silvers Series VI: The Methuselah Complex and an Industry Thriving on the Promise of Longevity Coresight Research November 24, 2016 Executive Summary In this, the sixth in our Silvers Series of reports on consumers aged 65 and older, we look at three sectors that encompass various antiaging and life-extension treatments and therapies. The first is beauty, including antiaging cosmeceuticals. Worldwide, consumers spent $24.3 billion on antiaging facial skincare in 2015, which was equivalent to 29% of total global facial care product sales last year. The nutraceuticals sector includes nutritional supplements and functional foods that promote health, and consumers worldwide spent some $166 billion on these products in 2014. The third sector is regenerative medicine, a branch of medicine dedicated to restoring degenerated cells, tissues and organs. The sector received some $2.5 billion in funding in 2015 in the US alone. Developers of antiaging technologies face a number of significant challenges in terms of regulatory approval, ethical implications, mass-market affordability and efficacy in prolonging healthy life. 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 ReportKingfisher (LSE: KGF) 3Q17 TRADING UPDATE: GROWTH HELD BACK BY FRANCE Coresight Research November 23, 2016 Executive Summary British DIY group Kingfisher reported 3Q17 total sales growth of 1.3% at constant currency, sequentially weaker than the 2.7% figure reported in 1H17. Group comps came in at 1.8% for 3Q17, down from 3.3% in 1H17, impacted by softer growth in the UK and a steeper decline in France. Poland remained a bright spot, with comps up 6.7%. 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: France – Where Click-and-Drive Is King Coresight Research November 23, 2016 Executive Summary France has one of the world’s leading online grocery markets. E-commerce accounted for 5.3% of total sales of fast-moving consumer goods (FMCGs) in France as of June 2016, according to Kantar Worldpanel. In Europe, only the UK had a larger share, at 6.9%, while countries such as the US and Germany lagged France considerably. The early introduction of drive-through collection services underpinned the expansion of online grocery retailing in France. Some French hypermarket retailers introduced these “click-and-drive” services as early as 2004. The model was successful and expanded rapidly. Our research found that, as of July 2016, there were 3,150 drive-through collection points throughout France. Retailers in other countries introduced click-and-drive at a much later stage. Click-and-drive pushed up shopping frequency in France. These services encouraged French consumers who buy groceries online to shop more frequently than consumers in other countries, as French shoppers see click-and-drive as a real alternative to in-store shopping. As a result, France has a larger online grocery retailing market, even though the proportion of consumers buying groceries online in France remains relatively low compared with some other markets. 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 ReportAbercrombie & Fitch’s Rebranding Efforts Fall Coresight Research November 22, 2016 Executive Summary Abercrombie & Fitch revamped its brand to give itself a makeover after years of struggle. In August of 2015, the company hired top designers to turn around the brand’s name. While Abercrombie & Fitch’s efforts to rebrand are apparent, with some new, updated styles and an improved in-store experience, the brand appears to have missed the mark. 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 Oct 21, 2016 Coresight Research November 21, 2016 Executive Summary This week’s note “From the Desk of Deborah Weinswig” focuses on three trends that our global teams—which are currently preparing our holiday 2016 reports—expect to have an impact on US consumers this holiday season. This holiday shopping season is expected to be led by the millennials, who will help drive the highest e-commerce sales revenue yet. A recent study found that more than one-fifth (21%) of millennials started their holiday shopping by November 1 last year and that more than a third (38%) started their shopping before Black Friday. US fragrance and cosmetics group Coty has acquired London-based GHD for US$510 million. GHD, short for Good Hair Day, produces electrical hair appliances. The company generated 2015 revenues of US$219 million and has seen 30% revenue growth during the past three years. ZTO Express, which delivers parcels for Alibaba and JD.com, is planning an IPO in the US later this month that could raise as much as US$1.5 billion. China is the world’s largest express delivery market, with 21 billion parcels delivered in 2015. 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 ReportWeekly Retail Promo Update Nov 20, 2016 Coresight Research November 20, 2016 Executive Summary Bloomingdale’s is offering a similar amount of promotions and sales this week as it did during the same week last year. The retailer offered up to two online-exclusive promotions last year, while it promoted two in-store-exclusive sales this week. This week, it is featuring a new section for discounted items of the week, which was not seen last year. The retailer is using text message marketing this week, which was used during this week last year. JCPenney is promoting slightly more sales this week than it did during the same week last year. The retailer offered up to two online or in-store exclusive promotions, which have not been promoted this week. Instead, JCPenney had a one-day deals promotion, including 70% off select jewelry. This week, the retailer is starting its Black Friday promotions, while it did not last year. Kohl’s is running fewer sales this year than it did during the same week last year. The company is offering shoppers the friends and family promotion, as it did last year. Kohl’s is beginning its Black Friday promotions this week by emphasizing its once-a-year Kohl’s Cash of $15 for every $50 spent. During the same week last year, the company had its first-ever jewelry event that offered an extra 25% off jewelry and watches that were already 25%–60% off. Macy’s is offering a similar amount of promotions this week as it did last year during the same week. In the same week both years, the company had its Super Saturday sale offering discounts on select departments. Macy’s is starting its Black Friday doorbuster promotions by featuring 60% off women’s coats and an extra 25%–50% off clearance designer handbags. 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 DiveMobile Payments In China Coresight Research November 19, 2016 Executive Summary The Chinese mobile payment market has grown rapidly and will reach ¥2 trillion (US$1.83 trillion) in 2016, up from ¥0.2 trillion (US$31.7 million) in 2012, according to iResearch. E-wallets account for a 58% share of the mobile payment market in China—the highest percentage globally—indicating that mobile payments are an integral part of the Chinese shopping experience. In the US, the figure is just 15% and in the UK, it is 23%. Mobile payment systems based on NFC and QR code technologies are most common in China. New regulations and improved security will provide more clarity on the evolving mobile payment industry in China. Retailers in China need to optimize their mobile payment strategies in order to increase sales and customer retention. 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 ReportB&M European Value Retail (LSE: BME) 1H17 RESULTS: IN-LINE AT THE TOP LINE, BUT UK COMPS WEAK Coresight Research November 18, 2016 Executive Summary UK-based mixed-goods discount retailer B&M European Value Retail posted an 18.9% year-over-year increase in revenues in 1H17. Revenues of £1,106 million were in line with the consensus estimate.`fgv The top line was driven by new store openings. UK comparable sales nudged up 0.2%. Diluted EPS of 5.8 pence was slightly ahead of consensus of 5.6 pence. 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 ReportTencent (0700.HK) 3Q16 RESULTS: REVENUE BEATS, WHILE EARNINGS MISS, AS INVESTMENTS IN CONTENT, CLOUD AND PAYMENT SQUEEZE MARGIN Coresight Research November 18, 2016 Executive Summary Tencent reported 3Q 2016 revenues of ¥40.4 billion, up 51.9% year over year. Non-GAAP diluted EPS was ¥1.24, up 40.3% year over year. Value-Added Services (VAS) revenue, which accounted for 69% of total revenue, increased by 36% year over year, mainly driven by player-versus-player and RPG genre smartphone games. Advertising revenues were up 51% year over year and other revenue surged 348% year over year, driven by payment and cloud services. The company plans to launch a new Weixin function called Mini Programs to ramp up investments in cloud and payment services to further improve user experience and user engagement. 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 DiveMillennials and Leisure Coresight Research November 18, 2016 Executive SummaryThis is the third report in our Millennials Series. In this report, we explore how millennials are reshaping the leisure sector. Currently, millennials in the US, the UK and Europe spend less on leisure than older generations do, largely because they have lower incomes. In the US, millennials underspend on travel relative to older age groups; this appears to be related, in part, to their unwillingness to take their full allocation of paid time off. We do not see a similar trend in Europe, where millennials tend to take more trips. Across multiple countries, millennials show a willingness to spend on dining out. In the US, for example, they spend a greater proportion of their total leisure dollars on dining out than other age groups do. Millennials often find the social element of dining important, and they prefer to eat at restaurants offering a wide range of choices and lower price points. Fitness and physical activity are important for this age group, with fitness classes, yoga and Pilates proving popular. Running, however, appears to be going out of fashion among millennials. In the US, millennials are the most stressed-out generation, and meditation is becoming more popular among them. 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 ReportGap (GPS) 3Q16 Results: EPS in Line with Consensus, Merchandise Margins Improve Coresight Research November 18, 2016 Executive Summary Gap reported 3Q16 revenues of $3.80 billion, down 1.5% year over year and slightly below the consensus estimate of $3.86 billion. Reported adjusted EPS was $0.60, in line with the consensus estimate but down 5% from the year-ago period. The overall merchandise margin improved by 220 basis points year over year, driven by Old Navy. The company expects full-year adjusted EPS of $1.87–$1.92, consistent with the prior guidance. The company expects total inventory to be down in the low single digits year over year for 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 ReportA Celebration of 2016 Women Leaders in Retail, Technology and Finance Coresight Research November 18, 2016 Executive Summary RevCascade is partnering with Crate and Barrel to enable the retailer to use drop shipping, a marketplace model that is the future of retail. Zeekit is using augmented reality/virtual reality to enable consumers to virtually try on items from a selection that includes more than 5 million outfits from more than 200 brands. The Story retail concept store features items from more than 200 brands and changes its store theme every four to eight weeks, changing its merchandise to match. 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 UpdateWalmart (WMT) 3Q17 Results: E-Commerce Contribution Increases at Walmart US Coresight Research November 18, 2016 Executive Summary Walmart reported 3Q17 EPS of $0.98 versus the consensus estimate of $0.96. Walmart US comps were up 1.2% versus consensus of 1.4% and guidance of 1.0%–1.5%. Traffic at Walmart US was up 0.7%, while average ticket increased by 0.5%. E-commerce added 50 basis points to comps, which was the channel’s largest contribution to date. The company experienced a favorable back-to-school season to start the quarter, although that strength was offset by unseasonably warm weather that negatively impacted apparel, and cold weather categories in particular. The company’s 4Q17 guidance calls for EPS of $1.18–$1.33, driven by a comp increase of 1.0%–1.5% at both Walmart US and Sam’s Club, versus consensus of 1.5% and 1.0% comp growth, respectively. 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 UpdateAhold Delhaize (AD) 3Q16 RESULTS: CORE SALES UP, BUT EARNINGS MISS ESTIMATES ON US WEAKNESS Coresight Research November 18, 2016 Executive Summary Ahold Delhaize reported 3Q16 pro forma revenues of €14,546 million, up 2.6% from €14,176 million in 3Q15, narrowly beating the consensus estimate of €14,516.98 million. The underlying EBITDA margin grew by 8 basis points and the underlying operating margin increased by 6bps. Underlying EPS fell 3.7% to €0.26, missing the consensus estimate of €0.28. Synergies from the merger between Ahold and Delhaize earlier in 2016, new store openings and investments in price and cost efficiencies drove volume growth across all regions, but was slightly offset by a deflationary environment in the US. Ahold Delhaize expects price pressure from the deflationary environment in the US to continue at its current levels. The company expects the pro forma underlying operating margin to be in line with the current year-to-date level of 3.6%. 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
