Company Earnings UpdateMarks & Spencer (LSE: MKS) 3Q17 Update: Improved Sales Beat Expectations Coresight Research January 13, 2017 Executive Summary UK clothing-and-food retailer Marks & Spencer (M&S) reported that 3Q17 sales were up 5.9% as reported and up 4.3% on a constant currency basis. The closely watched UK Clothing and Home segment posted impressive comparable sales growth of 2.3%, beating analysts’ expectations of 0.2% growth. The Food segment reported comps of 0.6%, beating expectations of a slight decline. In 3Q17, the company’s total UK sales increased by 4.5% year over year and by 1.3% on a comparable basis. International sales increased by 18.9% year over year and by 2.9% on a constant currency basis. This document was generated for
Company Earnings UpdateDebenhams (LSE:DEB) Christmas Trading: Nonclothing Categories Drive Impressive Performance Coresight Research January 13, 2017 Executive Summary UK department store retailer Debenhams reported group comps of +0.5% at constant currency, surpassing the consensus estimate of (0.9)%, in the 18 weeks ended January 7, 2017. UK comps grew by 1.0% and online sales jumped by 13.9%—an acceleration from last year’s +12.1%. Gross margin guidance for FY17 remains in the range of 25bps to (25)bps, as previously announced by Debenhams. This document was generated for
Company Earnings UpdateTesco (LSE: TSCO) 3Q17 and Christmas Update: Solid End to the Year Coresight Research January 13, 2017 Executive Summary The UK’s largest retailer, Tesco, reported 3Q17 group comps of 1.5%, slightly ahead of the consensus estimate of 1.3%. In the UK, 3Q17 comps came in at a robust 1.8%. In the subsequent six-week Christmas trading period ended January 7, UK comps came in at 0.7% against more demanding comparatives. The company’s 3Q17 performance marked its eighth consecutive quarter of positive comparable volume growth in the UK. This document was generated for
Company Earnings UpdateSainsbury (LSE: SBRY) 3Q17 Update: Modest Growth Beats Expectations Coresight Research January 12, 2017 Executive Summary Sainsbury’s, the UK’s second-largest grocery retailer, posted comps of 0.1% for 3Q17, marginally ahead of expectations of (0.8)%. Total sales were up 0.8%, excluding fuel and the impact of pharmacy disposals. Argos, which Sainsbury’s acquired in 2016, saw comps of 4.0% and total sales growth of 4.1%. This document was generated for
Company Earnings UpdateBoohoo Group (LSE: BOO) 3Q17 Results: Boohoo.com Raises Sales Guidance for Fifth Time Coresight Research January 11, 2017 Executive Summary British online fashion retailer Boohoo.com reported a 52% year-over-year increase in revenues on a constant currency basis. This was ahead of consensus expectations. Strong sales were driven by a broader product range offering, growth across all geographic regions and particularly robust momentum in the US. The 3Q17 retail gross margin declined by 260 basis points year over year, to 54.4%, due to planned investment in price and promotions. Boohoo.com raised its revenue guidance for the fifth time this year. The company now expects FY17 revenue growth of 43%–45% versus 38%–42% previously. This document was generated for
Company Earnings UpdateMetro Group (DB: MEO)1Q17 Trading Update: Weak Grocery Segment Weighs on Top Line Coresight Research January 11, 2017 Executive Summary Metro Group reported net sales of €17.0 billion in 1Q17, down 0.6% from the same period last year, and almost in line with consensus estimates. Comps edged up by 0.1% year over year. Metro Cash and Carry posted sales of €8.0 billion, down 0.3% year over year, which the company attributed to sales of its operations in Vietnam and negative foreign-currency effects. Sales at Media-Saturn were flat at €6.9 billion, and sales at Real declined by 4.0% to €2.1 billion. This document was generated for
Company Earnings UpdateMorrisons (LON: MRW) Christmas Trading: Comfortably Beats Expectations Coresight Research January 11, 2017 Executive Summary The UK’s fourth-largest grocery retailer, Morrisons, reported comps of 2.9% for the nine weeks ended January 1 to comfortably beat 4Q17 consensus of 1.1%. This marked an acceleration from comps of 1.6% in the prior quarter. Total sales were up 2% excluding fuel. The company attributed the solid performance to an improved offer, more competitive pricing and serving customers better. This document was generated for
Analyst CornerWeekly Insights Jan 6, 2017 Coresight Research January 6, 2017 Executive Summary At the start of every new year, millions of consumers resolve to join a gym and get healthy. This week’s note “From the Desk of Deborah Weinswig” discusses the US healthy-living industry and the scale of consumer spending on various categories within the sector. Amazon said it shipped 50% more items for third-party vendors this holiday season than it did last holiday season and that it doubled the number of items shipped in 2016 overall. The company’s statement offers new data points for investors who are hoping Amazon will post a profit for the fourth quarter when it announces results in coming weeks. The UK’s fourth-biggest grocer, Morrisons, has slashed the prices of about 800 items in its latest move to compete more aggressively on price. To help customers calculate the cost of items in their basket easily, Morrisons has also simplified the prices of more than 5,000 items so that they are in “round pounds.” China’s third-biggest search engine, Sogou, expects to hold a US IPO to sell about 10% of its shares at a valuation of around $5 billion. The move represents a challenge to Chinese search leader Baidu in the mobile market. This document was generated for
Event Presentation2016 Holiday Recap (Planalytics) Coresight Research January 5, 2017 Executive SummaryAGENDA Holiday Wrap-Up: Season Was a Success, Driven by a Last-Minute Surge of Shoppers Consumers Were Willing to Wait for the Best Deals, Which Resulted in a LastMinute Rush in Sales Favorable Holiday Calendar; Day Before Christmas Was a Saturday Cold Weather Caused an Uptick in Outerwear Sales Holiday Online Sales Growth Outpaced In-Store Sales Growth Retailers Managed Online/Offline Balance Better than in Years Past Amazon Won with Its “Best Ever” Holiday Season Click here to read Coresight’s coverage on US holiday retail and gain key retail insights for 2019 and prior 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
Company Earnings UpdateB&M European Value Retail (LSE: BME) 3Q17 Update: Very Strong Christmas Sales Performance Coresight Research January 5, 2017 Executive Summary UK-based discount retailer B&M European Value Retail reported a very strong Christmas trading period, with 3Q17 revenues up 21.8% as reported and up 20.5% at constant currency. UK revenues, which make up the bulk of group revenues, were up 20.7% in 3Q17, with UK comps up by an impressive 7.2%. Year-to-date group revenues are up 20%. This document was generated for
Analyst CornerWeekly Insights Dec 30, 2016 Coresight Research December 30, 2016 Executive Summary This week’s note “From the Desk of Deborah Weinswig” discusses US economic and consumer trends in 2016 and provides an outlook for consumer spending in 2017 and beyond. A jump in consumer spending in the final stretch of December significantly offset a slow start to the US holiday shopping season, and is likely to help many retailers beat sales forecasts, according to industry research groups. The National Retail Federation said more people shopped online throughout Black Friday weekend than shopped in physical stores. However, some stores, such as T.J.Maxx and Marshalls, are bucking the trend: these stores do not care about online sales because their businesses are based on the real-life retail experience. UK department-store chain House of Fraser recently opened its long-anticipated first Chinese store, in Nanjing. House of Fraser was acquired by China’s Sanpower Group in 2014 and the first Chinese opening had originally been planned for 2015. The company is expected to carve space for House of Fraser stores in its existing shopping centers, rather than buying or renting new sites. This document was generated for
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. 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
