Company Earnings UpdateUnder Armour (UA) 3Q16 Results: EPS Beats Expectations; Slower Apparel Growth Ahead Coresight Research October 26, 2016 Executive Summary Under Armour reported adjusted 3Q16 EPS of $0.29, ahead of the $0.25 consensus estimate and up 26.1% year over year. Revenues were $1.42 billion, up 21.4% year over year and slightly above the consensus estimate. Footwear was the strongest product category in the quarter in terms of year-over-year growth; category revenues were up 42.1% year over year. Apparel and accessories sales grew by 18.0% and 17.6%, respectively. For fiscal year 2016, Under Armour reiterated its revenue outlook of approximately $4.9 billion, representing 24% growth over the previous 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
Insight ReportKering (ENXTPA: KER) 3Q16 Trading Results: Very Strong Sales Recovery Coresight Research October 26, 2016 Executive Summary French luxury group Kering reported 3Q16 revenue of €3.2 billion, up 10% from €2.9 billion in 3Q15 and above the consensus estimate of €3.1 billion. In constant currency, revenue increased by 10.5%. The Luxury Activities segment’s revenue increased by 12% year over year and by 11.3% in constant currency, to €2.1 billion. The Sports and Lifestyle Activities segment’s revenue increased by 6.5% year over year and by 9.3% in constant currency, to €1.1 billion. The strong 3Q16 revenue results marked a clearly improving trend from 1H16 results. The impressive sales recovery was driven by double-digit revenue growth across all geographic regions except Japan. Both the Luxury and Sports and Lifestyle divisions showed strong sales momentum that was propelled by remarkable revenue gains at Gucci, Yves Saint Laurent and Puma. 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 ReportAlibaba Kicks Off Singles’ Day Global Shopping Festival Coresight Research October 25, 2016 Executive Summary Alibaba kicked off its 11.11 Global Shopping Festival, which is now the biggest shopping day globally, and released details surrounding its marketing strategy. In our view, entertainment and interactive engagement (which includes VR and an AR Pokémon-Go-style game) are the most anticipated areas and will likely move the needle for this year’s sales growth. We remain positive that Alibaba’s 2016 Singles’ Day sales will achieve new records, and reiterate our forecast for year-over-year sales growth of 40%. Click here to read more Coresight coverage of Singles Day over the last 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 ReportLuxottica (LUX) 3Q16 Trading Update: Sales in Line, FY16 Guidance Confirmed Coresight Research October 25, 2016 Executive Summary Luxottica reported that 3Q16 adjusted revenue increased by 1.2% (1.4% in constant currency), to €2.2 billion, in line with the consensus estimate. Sales growth was driven by solid performance in Europe and some emerging markets, as well as by acceleration in the retail segment. Luxottica e-commerce sales increased by 18% year over year at constant exchange rates. The company confirmed its FY16 guidance outlook. It expects to generate 2%–3% revenue growth at constant exchange rates and to grow FY16 operating and net income in line with sales. 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: Global Footwear E-Commerce: Growing By Leaps And Bounds Coresight Research October 25, 2016 Executive Summary Footwear e-commerce is making strides. According to Euromonitor International, global online footwear and apparel sales increased by 22% in 2015, and e-commerce accounted for 12% of total global footwear sales. By comparison, the total footwear market grew by 6% last year. There are several factors driving the robust e-commerce growth in footwear, including customization, personalization and millennials’ preference for online shopping. The athleisure and healthy lifestyle trends are bolstering underlying demand for footwear. In the last few years, numerous innovative pure-play online footwear and apparel retailers have entered the market. Fitting issues and the consequent costs of customer returns are the Achilles’ heel of footwear e-commerce, but new technologies are helping shoppers find their perfect fit online and, so, helping retailers save money. 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 Oct 23, 2016 Coresight Research October 23, 2016 Executive Summary Bloomingdale’s is running more sales this week than it did during the same week last year. The retailer is offering shoppers up to two in-store-exclusive promotions and one online-exclusive promotion this week; last year this week, it offered no in-store-exclusive promotions and four online-exclusive ones. Bloomingdale’s extended its Buy More, Save More promotion one day longer for online shoppers this year. The retailer is using text message marketing this week, which it did not use during this week last year. JCPenney is promoting more sales this week than it did during this week last year. The retailer is offering up to one in-store-exclusive sale and one online-only sale this week, while it offered a single online-only promotion last year. JCPenney is running a Power Penney Days Sale this week that it did not offer during the same week last year. Kohl’s is running fewer sales this year than it did during the same week last year. The company is offering up to three online-exclusive sales this week, while it did not offer any online-exclusive sales last year. Kohl’s is promoting a Yes2You Rewards Members promotion for six days this week that it did not offer during this week last year. Macy’s is offering many fewer promotions this week than it did last year during the same week. The company is only promoting its one-day Super Sunday Sale this week. During the same week last year, Macy’s offered several promotions, including a designer pop-up sale, a web busters sale and deals of the day. 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 UpdateWalgreens (WBA) 4Q16 Results: EPS Beats Consensus, Rite Aid Merger Extended Coresight Research October 21, 2016 Executive Summary Walgreens reported fiscal 4Q16 adjusted EPS of $1.07, ahead of the $0.99 consensus estimate. Reported revenues were $28.64 billion, up 0.4% year over year and below the consensus estimate of $29.11 billion. Management now expects Walgreens’ pending acquisition of Rite Aid to close in early 2017, versus the previously stated end of 2016, and it continues to expect that the Federal Trade Commission will require the parties to divest 500–1,000 stores. For fiscal year 2017, the company expects adjusted EPS of $4.85–$5.20, in line with the consensus estimate of $5.03. This guidance assumes accretion of $0.05–$0.12 from Rite Aid, based on the expected store divestitures and timing of the closing. 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 ReportEconomic Analysis: CONSUMER SPENDING TEPID; HIGHER GAS PRICES TO CURTAIL OTHER SPENDING Coresight Research October 21, 2016 Executive Summary The US unemployment rate was unchanged in August, versus an expected drop of 10 basis points. Total nonfarm payroll employment increased by 151,000. Real personal consumer expenditures (PCE) dropped by 0.1% month over month in August, while real disposable income rose by 0.1% month over month. The core PCE deflator, which excludes food and energy prices, increased by 1.7% year over year for the month; the rate was slightly below the Federal Reserve’s target of 2%. The gas price rose moderately from August, reaching US$2.241 per gallon on October 16, 2016. The production cut by the Organization of the Petroleum Exporting Countries (OPEC) and crude oil hovering above US$50 a barrel tend to drive gas prices higher, which reduces consumption spending in other categories. Real PCE dropped by 0.1% month over month in August, while real disposable personal income ticked up by 0.1%. 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 ReporteBay (EBAY) 3Q16 Results: Solid Quarter, Transformation Continues Coresight Research October 21, 2016 Executive Summary eBay reported 3Q16 adjusted EPS of $0.45, beating the consensus estimate by a penny and up 3.3% year over year. Revenues were $2.2 billion, slightly above the consensus estimate and up 5.6% year over year. StubHub was the company’s top-performing segment, with 32% revenue growth, followed by Classifieds (up 11% as reported) and Marketplace (up 2% as reported). The company’s full-year revenue guidance range was at or above consensus estimates, and non-GAAP EPS guidance of $1.85–$1.90 was unchanged. 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 ReportWalmart to Fast Track China Expansion with JD Ahead of Singles’ Day Coresight Research October 21, 2016 Executive Summary Walmart and JD.com announced a series of joint initiatives to expand their offering for Chinese online shoppers ahead of Singles Day 2016. This builds upon an existing strategic alliance the two companies had formed in June 2016. A Sam’s Club Flagship Store and a Walmart Global store will be opened on JD.com, enhancing the product offering for Chinese customers. Two-hour deliveries will be offered from more than 20 Walmart stores. We are positive on the debut of Walmart Global and Sam’s Club on JD.com ahead of Singles Day 2016. In our view, this strategic partnership is constructive to Walmart’s strategy to expand its online presence in China. 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 PresentationAR VR – At an Inflection Point (RetailLoco) Coresight Research October 20, 2016 Executive SummaryAGENDA About Fung Global Retail & Technology AR/VR Technology AR/VR—At an Inflection Point AR/VR—An $80 Billion Market AR Applications VR Hardware VR Applications 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 ReportCarrefour (ENXTPA: CA) 3Q16 Results: Sales Lifted by Strong Performance in Latin America Coresight Research October 20, 2016 Executive Summary Carrefour reported net sales of €21.8 billion in 3Q16, up 3.6% from 3Q15, at constant currency excluding fuel, and beating the consensus estimate of €21.5 billion. France sales fell by 0.1% year over year, while international sales grew by 6.5%, excluding fuel, at constant currency. Excluding fuel and calendar effects, group comps grew by 3.2%, while organic growth was 3.1% 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 ReportZalando (XTRA:ZAL) 3Q16 Trading Update: Strong Continued Revenue Growth and Raised FY16 EBIT Margin Guidance Coresight Research October 20, 2016 Executive Summary Zalando expects to report 3Q16 revenue growth in the range of 16-18% year over year to €827-841 million, according to preliminary figures. The company expects to achieve 3Q16 adjusted EBIT of €8-25 million, corresponding to an adjusted EBIT margin of 1.0-3.0%. This marks a clear year-over-year improvement, as Zalando reported an adjusted EBIT decline of €24 million and EBIT margin of (3.3)% in 3Q15. Management reiterated that the company expects to deliver FY16 revenue growth at the upper end of its forecast 20.0-25.0% revenue growth range. Following clear profitability improvements, Zalando raised its adjusted FY16 EBIT margin guidance to 5.0-6.0% from the previous range of 4.0-5.5%. The company will report full and detailed 3Q16 results on November 10, 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 Trading Statement: Metro Reports Slight FY16 Sales Growth and Confirms EBIT Guidance Coresight Research October 20, 2016 Executive Summary Metro Group reported net sales of €58.4 billion inFY16, down 1.4% from FY15, and slightly below the consensus estimate of €58.8 billion. In local currency terms, sales grew by 0.4% and comps grew by 0.2%. In 4Q16, net sales declined by 0.5% to €14.2 billion. Sales grew by 0.2% year over year in local currency and comps grew by 0.1%. Metro stated that the company achieved its internal sales forecast for FY16. 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 ReportSupervalu (SVU) 2Q17 Results: Mixed Quarter, Company Transformation Continues Coresight Research October 20, 2016 Executive Summary Supervalu reported fiscal 2Q17 adjusted EPS of $0.13, ahead of the $0.10 consensus estimate and up 12.4% year over year. Revenues were $3.9 billion, down 4.8% year over year and slightly below the consensus estimate. Same-store sales were negative for the Wholesale segment, the Retail segment, at Save-A-Lot and for corporate stores within the Save-A-Lot network. On October 17, Supervalu announced the signing of an agreement to sell Save-A-Lot for $1.365 billion in cash. The sale is expected to close by January 31, 2017. On September 8, the company reduced its full-year outlook for adjusted EBITDA to 5.0% below the $771 million figure reported last year. 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
