Insight ReportINDITEX (BME: ITX) 1H17 RESULTS: IMPRESSIVE COMPARABLE SALES AND EPS IN LINE Coresight Research September 22, 2016 Executive Summary Inditex reported 1H17 normalized earnings per share (EPS) of €0.40, an increase of 7.7% over 1H16 and in line with the consensus estimate of €0.40. The company reported revenue increased by 11.1% to €10.47 billion, above the consensus estimate of €10.43 billion. Comparable-store sales in 1H17 increased an impressive 11% year over year, at constant currency. Earnings before interest and tax (EBIT) increased 7.9% to €1.6 billion, slightly above the consensus estimate of €1.59 billion. The company’s 1H17 EBIT margin contracted by 50 basis points year over year to 15.3%. Inditex’s results were supported by store and online expansion and strong comps. In FY17, the company plans to expand its store network and e-commerce operations in order to continue increasing revenue and profitability. 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 ReportESPRIT (330 HK) FY16 RESULTS: TURNAROUND HELPED BY COST REDUCTIONS Coresight Research September 21, 2016 Executive Summary Esprit announced a net profit of HK$21 million for FY16, a turnaround from the net loss of HK$3.7 billion reported in FY15, due to productivity gains in its retail operations and cost reductions. Improved profitability in FY16 indicated that execution of the group’s strategic plan to develop vertical and omni-channel models is on track. By region, Germany registered positive growth in retail sales, while Asia Pacific remained challenging. 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 ReportSears Holdings To Close 64 Kmart Stores Coresight Research September 21, 2016 Executive Summary Sears Holding will close 64 Kmart stores across 28 states by mid-December 2016. Since January 2016, Sears announced it would close 14% of Kmart stores. Over the past three years, Sears Holdings closed 24% of its Sears Holdings and Kmart stores, combined. 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) THE UK AND POLAND UNDERPIN STRONG TOP-LINE GROWTH Coresight Research September 21, 2016 Executive Summary British do-it-yourself (DIY) giant Kingfisher posted 1H17 revenues of £5,749 million, up 6.8% as reported, or 2.7% at constant currency. Comparable sales growth at constant currency was 3.3%. The top line beat consensus of £5,707 million. Gross margin was dented by the growth of Screwfix and markdowns in the UK, but was recouped by gains in Poland and France. Net profit crept up 0.9% and diluted earnings per share (EPS) climbed 3.7% and beat the consensus. 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 ReportConsortium Finalizes the Acquisition of Aéropostale Coresight Research September 20, 2016 Executive Summary A consortium, which includes Authentic Brands Group (ABG,) General Growth Properties (GGP) and Simon Property Group (SPG,) announced it has finalized the acquisition of Aéropostale. The consortium won the bankruptcy auction for the retailer with a $243.3 million bid earlier this month, after Aéropostale had filed for voluntary bankruptcy protection on May 4, 2016. Following the acquisition, Aéropostale will still be sold in more than 700 retail locations worldwide. It generates more than $1 billion in global retail sales, including more than $800 million from the US. 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 ReportJD Worldwide Luncheon Coresight Research September 20, 2016 Executive Summary Rising disposable income and growing awareness of international brands have caused Chinese shoppers to seek imported goods. Cross border e-commerce platforms are the most efficient means for international retailers to access the China market. JD Worldwide is the cross-border service of JD.com and operates both a third-party market place and self-operating models. JD is deftly positioned to capitalize on this opportunity given its understanding of evolving Chinese customer preferences and the regulatory landscape. They are committed to providing authentic products and have extensive logistics capabilities. 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 ReportUnder Armour Announced Senior Management Changes in North America Coresight Research September 20, 2016 Executive Summary Under Armour has announced Jason LaRose will assume the position of Company President for North America. He will succeed Matthew Mirchin. Mirchin will stay with the company and serve as Strategic Advisor, Global Revenue. LaRose joined Under Armour in 2013 to lead the company’s global e-commerce business. 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 ReportCHICO’S FAS ANALYST EVENT TAKEAWAYS Coresight Research September 19, 2016 Executive Summary Retail is changing rapidly and Chico’s FAS is working to adapt to address the needs of the evolving consumer. The new consumer has gotten used to a culture of immediate access to information, the ability to shop from anywhere, instant gratification and spending on experiences. The company has one of the most loyal customer bases, with more than 90% of its revenues generated from members of its loyalty program. Its net promoter scores (which measure a consumer’s willingness to recommend a brand) are in the mid-to-high 70s versus the industry average of 51. The company’s unique focus on customer service could be a driver of this outperformance. That level of loyalty has allowed Chico’s FAS to gather significant data, which it is now using to maximize its profitability. Specifically, the data informs how the company goes to market, stocks it product and interacts with its customers, as well as how customers interact with the company. The company continues to develop algorithms and models to drive and enable real-time decision making. The integration of the company’s digital and physical retail environments will result in 175 store closures through 2017 as Chico’s FAS works to respond to customer needs more quickly as their digital habits continually evolve. International expansion was identified as an area for potential growth, given the company’s minimal exposure outside the US. 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 Sep 18, 2016 Coresight Research September 18, 2016 Executive Summary Bloomingdale’s is offering more promotions this year than it did during the same week last year. The retailer is running online- and in-store-exclusive promotions this week that it did not offer last year. Bloomingdale’s is also using text message marketing this week, which it did not use last year. JCPenney is offering fewer promotions this year versus this week last year. The retailer offered customers up to three online- or in-store-exclusive promotions last year, but is offering only one online-exclusive sale this year. Kohl’s is running fewer sales this year than it did last year. The company extended the number of Kohl’s Charge promotion days from seven last year to 10 this year. Macy’s is running a similar amount of promotional sales as it did during this week last year. The company is having a four-month Macy’s Star Rewards promotion this year that it did not offer last year. In both years, Macy’s offered Estée Lauder promotions and a VIP sale. 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 Sep 16, 2016 Coresight Research September 16, 2016 Executive Summary This week’s note “From the Desk of Deborah Weinswig” discusses the history and economic impact of New York Fashion Week, as well as highlighting some things that are different at the event this time around. The market for luxury plus-size fashion is growing, and is estimated to be worth $20.4 billion this year, up from $17.4 billion in 2013. Although few luxury designers are devoted to making plus-size fashion, partnerships and social media seem to key for luxury designers looking to launch plus-size lines. E-commerce giant Amazon has launched its restaurant delivery service in selected areas of London as part of its Prime Now offering. This pits it against delivery firms such as Deliveroo and UberEATS. Amazon promises to deliver within an hour, but the free service is available only for Amazon Prime Now subscribers. L Brands has opened a 10,760-square-foot Victoria’s Secret store in partnership with Mexican retail franchiser Grupo Axo. This is the first full-assortment store in Mexico City, and it sells all of the Victoria’s Secret lines, including Body by Victoria, Very Sexy, Dream Angels, Bombshell and Victoria Sport. 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 ReportNext (LSE:NXT) 1H17 RESULTS: SLIGHT SALES BEAT BUT BOTTOM LINE MISS Coresight Research September 16, 2016 Executive Summary British fashion retailer Next reported £1,957.1 million in group revenues in the 26 weeks ending July 30, 2016, and beat the consensus estimate of £1,924.9 million, up 2.6% from £1,907.4 million in the 26 weeks that ended July 25, 2015. 1H17 diluted earnings per share (EPS) was 187.1 pence for 1H17, up 1.9% from 183.7 pence in 1H16 and missed the consensus estimate of 188 pence. In FY17, the company expects total full-price sales growth of the Next Brand to be between the range of (2.5)% to +2.5%. The company expects FY17 profit before tax (PBT) in the range of €775 million and €845 million, to fall in the range of (5.6)% and +2.9% year-over-year growth in profit before tax (PBT). FY17 EPS-growth is expected to fall between (2.5)% and +6.3%. 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
Insight ReportMorrisons (LSE: MRW) 1H17 RESULTS: BETTER COMPS, IMPROVED OPERATING MARGINS Coresight Research September 16, 2016 Executive Summary The UK’s fourth-largest grocery retailer, Morrisons, reported 1H17 revenues down 0.4% but comps up 1.4%. Comps saw a sequential improvement and rose 2% in 2Q. This was the third consecutive quarter of positive underlying growth. Operating profit climbed 30%, helped by the progress of its plan to save £1 billion in costs over three years. This led to operating margins of 2.8%, up from 2.1% in the year-ago period. Profit before tax (PBT) rose 13.5%, and these gains trickled down to create a 2.4% increase in diluted earnings per share (EPS), taking it to 4.68 pence. 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
Market Navigators/Market OutlookBusiness Wearables: A High Growth Segment in a Fast-Expanding Market Coresight Research September 15, 2016 Executive Summary The business wearables segment will grow even faster than the already-high-growth wearables market in the coming years, according to market-measurement firm Gartner. The total number of wearables shipped worldwide is forecast to grow by a compound annual growth rate (CAGR) of 17.9% between 2015 and 2017, according to Gartner. But the number of business-use wearables shipped is forecast to grow by a CAGR of 75.1% between 2015 and 2021, based on our analysis of Tractica data. The global enterprise wearables market value is expected to grow from $198.5 million in 2015 to $12.7 billion in 2021, and the number of units shipped will climb from 2.3 million to 66.4 million, according to market-intelligence firm Tractica. The use of smart glasses in work environments is expected to grow faster than any other category in the coming years. Underpinning this will be Google’s planned relaunch of its Google Glass product with a focus on business use. Consumers are more willing to adopt wearable technology if an institution pays for the device, noted professional services company PwC. But, multiple surveys find consumers have concerns over privacy if their employers start deploying wearable technology. 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 ReportOcado (LSE: OCDO) 3Q16 SALES: STRONG TOP LINE BUT COMPETITION PRESSURES MARGINS Coresight Research September 14, 2016 Executive Summary UK grocery pure play Ocado Group posted 3Q16 group sales up 15.4%. Its own retail sales were up 13.6%. The company noted the competitive UK grocery market maintains margin Analysts expect Ocado to post revenue growth of 15.2% for the full year that ends in November. 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 ReportVera Bradley Rebrands with a New York City Location Coresight Research September 13, 2016 Executive Summary Vera Bradley opens its first full-line store in Manhattan’s SoHo in New York City. The store represents all of the company’s rebranding efforts. It features new lines that include the company’s classic colorful designs along with new sleek leather bags and accessories. Vera Bradley’s rebranding will likely prove successful, according to analysts. The company is expected to show a positive turnaround from previous years with revenue growth for 2016 estimated at 1.1%. 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