Company Earnings UpdateAmerican Eagle Outfitters (AEO) 3Q16 Results: Holiday Sales Encouraging Thus Far Coresight Research December 1, 2016 Executive Summary American Eagle Outfitters reported 3Q16 EPS of $0.41, in line with the consensus estimate. Total revenues were $940.6 million versus expectations of $939.6 million. Comps were up 2%, but came in below expectations of 2.9%. AE brand comps were up 0.4%, while Aerie comps were up 21%, marking the sixth consecutive quarter in which Aerie posted comps above 20%. The company noted strength in the digital channels in the period. Management provided 4Q16 EPS guidance of $0.37–$0.39 versus consensus of $0.46. Comps are expected to be flat to up by low single digits versus consensus of 3.8%. Management noted that it is taking a cautious view because the retail climate, particularly in malls, is tough, and the pace of traffic choppy. This document was generated for
Insight ReportPROFILING INDUO, OFFERING WATER-REPELLENT COTTON Coresight Research December 1, 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 ReportSavvy Travelers—A Nifty Solution for Traveling Light Coresight Research December 1, 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 ReportGuess (GES) 3Q17 Results: EPS Misses Consensus; US Performance Hampers Results Coresight Research December 1, 2016 Executive Summary Guess reported 3Q17 EPS of $0.11, below the $0.14 consensus estimate and down 27% year over year. The figure was at the low end of management’s previous guidance. The North America retail segment reported $215.9 million in revenue, missing consensus of $219.0 million. The North America wholesale division reported revenue of $44.8 million, beating the consensus estimate. Reported comps for the region were down 4.9% versus consensus expectations of a 3.3% decline. For 4Q17, the company expects adjusted EPS of $0.42–$0.52 and a 3.5%–7.5% increase in net 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
Insight ReportPVH Corp (PVH) 3Q16 Results: Beats on EPS; Updates FY16 Outlook Coresight Research December 1, 2016 Executive Summary PVH Corp. reported 3Q16 adjusted EPS of $2.60, ahead of the $2.35–$2.40 consensus estimate but down 2.3% year over year. Revenues were $2.24 billion, up 3.7% year over year and in line with the consensus estimate. Calvin Klein was the strongest-performing brand in the quarter, with revenues up 9% year over year, or 10% in constant currency. Europe and China were the regions with the strongest sales. The company updated its FY16 guidance, and now expects EPS of $6.51–$6.56 compared with $6.89 in the prior year. Previous guidance called for EPS of $7.50–$7.60. 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 DiveThe UK Apparel Handbook – 2017 Outlook Coresight Research November 30, 2016 Executive Summary Fashion retailers have struggled with weak sales in the UK market in the last few months, and 2016 is shaping up to be the toughest year for UK apparel sales since 2009. We believe that the softness in the UK apparel market will continue in 2017, although growth next year will be against undemanding comparatives. The depreciation of the pound will increase sourcing costs in apparel. However, the UK market faces exceptionally strong competition, arising in large part from growth in capacity, and this will keep a lid on price increases. 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 PresentationBreakfast with the Disruptors – Supply Chain Startup Pitches Coresight Research November 29, 2016 Executive SummaryBlack Friday Recap: Strong BF Weekend Bodes Well for Holiday Black Friday Positive for Holiday. Online Sales Post Record High. Mobile Sales At An All-time High. In-store Traffic Declined. Average Spend Declined Due to Heavier Promotions. 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 ReportHouse of Fraser CEO Resigns Coresight Research November 29, 2016 Executive Summary Nigel Oddy is reported to have resigned as CEO of UK department-store chain House of Fraser. Oddy’s resignation is the latest in a series of management departures at House of Fraser since the chain was acquired by Sanpower in 2014. Supply Chain Director, Ray Kavanagh, is set to leave, according to media reports. 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 Nov 27, 2016 Coresight Research November 27, 2016 Executive Summary Bloomingdale’s is offering a similar number of promotions and sales this week as it did during the same week last year. In both years, the retailer promoted Cyber Sunday and Monday sales by offering a 25% discount on a large selection of regular- and sale-priced items. Last year, Bloomingdale’s offered a bMoney promotion during this week that it is not offering this year. The retailer is using text message marketing this week, which it also used during this week last year. JCPenney is promoting slightly fewer sales this week than it did during the same week last year. The retailer is focusing on its Cyber Monday sales this week, while it featured multiple different promotions this week last year, including a Friends and Family Sale and a Red Zone Clearance promotion. In both years, JCPenney offered 25% off Nike apparel and shoes and 33% off purchases over $100 on Cyber Monday. Kohl’s is running a similar number of sales this year as it did during the same week last year. Similar to JCPenney, the company is focusing on Cyber Monday/Week sales the entire week this year. In its Cyber Week sales in both years, Kohl’s offered one-day, online-exclusive, $10-off promotions for different categories of products, including $10 off home purchases over $50. The retailer also promoted Fitbit devices in both years. Macy’s is also offering a similar number of promotions this week as it did last year during the same week. In both years, the company ran a Cyber Monday sale. The retailer featured a 25% off Nike promotion during Cyber Monday this week, while it offered the same promotion as part of its Friends and Family Sale last year during the same week. 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 Nov 26, 2016 Coresight Research November 26, 2016 Executive Summary This week’s note “From the Desk of Deborah Weinswig” provides some background on the upcoming Thanksgiving holiday and discusses the gifts that consumers are likely to purchase this holiday season. Consumers are planning to spend an average of $400 each during the five days between Thanksgiving and Cyber Monday. Half of that money (51%) will be spent online. Among the consumers surveyed, 87% who plan to shop at some point will do so online. Last year, consumers made nearly half of their online holiday purchases by Cyber Monday. Market-research company GfK has declared Zara the online fashion leader in Spain. In second and third positions are ASOS and Zalando. Zara also has the best conversion rate (12%) in the Spanish online fashion sector, followed by ASOS at 9% and Zalando at only 3%. Many retailers are going south of the border and opening stores in Mexico. Apple, Victoria’s Secret, Williams-Sonoma, Gap, Forever 21 and Amazon have all expanded in Mexico in the past year. Walmart Mexico is outperforming its US parent. Real estate developers have forecast that by 2025 there will be 200 new malls in Mexico, along with a boom in ecommerce. This document was generated for
Flash ReportVipshop (VIPS) 3Q16 RESULTS: TOP-LINE GROWTH IN LINE, WHILE EARNINGS MISS ON NEW INVESTMENTS Coresight Research November 25, 2016 Executive Summary Vipshop, the Chinese online discount retailer for branded products, reported 3Q revenue of ¥0 billion (US$1.8 billion), up 38.4% year over year. Non-GAAP diluted earnings per ADS were ¥1.00 for the quarter, up 31.6% year over year. Total active customers increased 43% to reach 20.8 million, and total orders increased 34% year over year to 60.1 million, increasing at a lower rate than revenue. Vipshop guided for 4Q net revenue of ¥0-18.5 billion, representing growth of approximately 30-33%, year over year. This document was generated for
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. 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
