Company Earnings UpdatePrimark (LSE: ABF) FY16 PRE-CLOSE TRADING STATEMENT: NEGATIVE COMPS AND MARGIN COMPRESSION EXPECTED AT PRIMARK Coresight Research September 13, 2016 Executive Summary Primark’s owner, Associated British Foods (ABF), reported a pre-close trading statement for its FY16 results, the period ending September 17, 2016. Detailed full-year results are expected to be announced on November 8, 2016. Primark revenues are expected to increase 9% year over year at constant currency for FY16 and reported sales are expected to increase 11% year over year. Comparable store sales are expected to decrease by 2% year over year in FY16. Primark’s FY16 operating profit margin is expected to be close to that achieved in 1H16, which was 11.7%, down 90 basis points from 12.6% in FY15. 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 UpdateKroger (KR) 2Q16 RESULTS: MIXED QUARTER, LOWERS GUIDANCE Coresight Research September 12, 2016 Executive Summary Kroger reported fiscal 2Q16 adjusted earnings per share (EPS) of $0.47 versus $0.44 a year ago and beat consensus by two pennies. Revenues were $26.6 billion, up 4% year over year and slightly below the consensus estimate of $26.8 billion. Identical supermarket sales were up 1.7%, however there was deflation in most categories, except in produce and pharmacy. The company lowered FY16 EPS guidance to $2.10–$2.20 from $2.19–$2.28 due to continued deflation. Kroger also reduced guidance for supermarket same-store sales and capital expenditures (capex), however, it kept its long-term EPS growth rate target of 8%–11%. 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 PresentationIsrael Technology Trends of Interest Coresight Research September 11, 2016 Executive SummaryFUNG GLOBAL RETAIL & TECHNOLOGY The knowledge bank for the Fung Group Focuses on emerging retail and technology trends Established in 2014 Based in New York, with research teams in London and Hong Kong 20+ analysts specializing in retail and technology Publishes thematic research and research with a global scope on topics such as omnichannel retail, fashion and retail trends and disruptive technologies 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 Sep 11, 2016 Coresight Research September 11, 2016 Executive Summary Bloomingdale’s is offering a similar number of promotions this week as it did during the same week last year. The retailer is having a seven-day in-store-exclusive sale this week that it did not run last year. In both years, Bloomingdale’s offered customers special savings with certain minimum purchases. JCPenney ran more promotions during this week last year than it is running this year. The retailer offered customers up to two online- or in-store-exclusive promotions last year, but is offering only one online-exclusive sale this week. Kohl’s is also running fewer sales this year than it did last year. This week, the company is offering up to two online-only promotions and no in-store-only sales, while last year it ran one online-exclusive promotion and one in-store-exclusive clearance event. The retailer promoted its Kohl’s Cash and Kohl’s Charge up to three times during this week last year, but is only promoting Kohl’s Cash once this week. This week, Macy’s is running fewer promotional sales than it did last year. The retailer is having a VIP sale this year, which it did not run last year. In both years, Macy’s offered Estée Lauder 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
Event PresentationFashion Immersion Program (PhilaU) Coresight Research September 9, 2016 Executive SummaryIs It Amazon or a Change in Customer Preferences? Accounted for $0.51 of every $1.00 of growth in US e-commerce in 2015 Generated 24% of total retail growth in the United States New Amazon services are changing consumer preferences 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 ReportWalgreens Continues to Believe Rite Aid Acquisition Will Close; Plans to Divest Incremental Stores Coresight Research September 9, 2016 Executive Summary Walgreens expects to divest more than 500, but less than 1,000 stores in order to address antitrust concerns raised in conversations with the Federal Trade Commission (FTC) regarding the Ride Aid acquisition. Walgreens continues to believe the deal will close in the second half of 2016. Conversations with the FTC appear to be ongoing. Management expects the acquisition of Ride Aid will add to company’s adjusted earnings per share in the first full year after the transaction closes. Synergies will be more than $1 billion primarily from operational activities such as procurement and cost savings. 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 9, 2016 Coresight Research September 9, 2016 Executive Summary This week’s note “From the Desk of Deborah Weinswig” discusses the situation of multi-channel retailers on both sides of the Atlantic, along with some possible actions that brick-and-mortar retailers can take in order to compete more effectively with online pure plays. Google is testing a new mobile tool called “Shop the look,” which aims to help shoppers who are not seeking a specific product. The tool lets consumers shop for items featured in images from brands, bloggers, retailers and publishers. Participating retailers pay on a cost-per-click basis and receive Google Shopping analytics. Germany’s Metro Group confirmed that it is proceeding with its plans to split its food and consumer electronics businesses. The separation will take place on September 30, when the wholesale and food business and its related business activities will be spun off to form one entity, and the consumer electronics business and its related activities will form the other entity. Walmart of Mexico and Central America is working to enhance its logistics and the integration of its digital platforms. The company is also working to ramp up its e-commerce offerings following Amazon’s entrance into the Mexican market. 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 ReportDollar Stores and Grocery: New Challenges Coresight Research September 8, 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 ReportHBC (HBC.CN) 2Q16 RESULTS: CHALLENGING ENVIRONMENT WEIGHS ON OUTLOOK Coresight Research September 7, 2016 Executive Summary Hudson’s Bay Company (HBC) reported 2Q16 adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) of C$81million versus consensus of C$50.6 million. Adjusted earnings before interest, taxes, depreciation, amortization and rent costs (EBITDAR) was C$263 million and above expectations of C$256 million. Total revenue was C$3.25 billion versus expectations of C$3.27 billion. The company currently expects sales, adjusted EBITDAR and adjusted EBITDA to trend toward the bottom end of its outlook range. 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 ReportLululemon (LULU) 2Q16 RESULTS: EPS IN-LINE; OUTLOOK UPDATED Coresight Research September 6, 2016 Executive Summary Lululemon reported adjusted 2Q16 EPS of $0.38, in line with the consensus estimate and up 11.8% year over year. Revenues were $514.5 million, up 13.6% year over year and slightly below the consensus estimate of $515.8 million. The company saw strength in tops, particularly its bras and tank tops which grew 13% and 3% respectively year-over-year. For fiscal year 2016, Lululemon expects net revenue to be in the range of $2.325 billion to $2.350 billion based on comparable sales in the mid-single digits, above the consensus estimate, and EPS guidance is $2.11 to $2.19, above the $1.89 consensus estimate. 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 Sep 04, 2016 Coresight Research September 4, 2016 Executive Summary Bloomingdale’s is offering more promotions this week than it did during the same week last year. The retailer had an in-store-exclusive sale this week that it did not run last year. At this time last year, Bloomingdale’s was promoting a free Clinique gift offering for 20 days, but it is not offering it this week. The retailer is using text message marketing this week, but did not use text promotions last year during this week. JCPenney ran more promotions during this week last year than it is running this year. The retailer offered customers up to six online- or in-store-exclusive promotions last year, but is running only two online-exclusive sales this week. In both years, JCPenney promoted Labor Day sales that lasted up to six days. Kohl’sran more promotions during this week last year than it is offering this week. This year, the company lowered the minimum purchase amount required to receive Kohl’s Cash from $50 to $25 and lowered the Kohl’s Cash reward from $10 to $5. Kohl’s is also using text message marketing this week, which it did not use last year. This week, Macy’s is running fewer promotional sales than it did last year. The retailer offered a variety of beauty brands as gifts this week last year, but is only offering Estée Lauder this 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
Company Earnings UpdateFive Below (FIVE) 2Q16 Results: Beats Estimates; Issues Mixed FY16 Guidance ANnd 3Q16 Guidance Below Consensus Coresight Research September 2, 2016 Executive Summary Five Below reported 2Q16 EPS of $0.18, up 38.7% year over year. The result beat the consensus estimate by a penny and was ahead of guidance of $0.16–$0.17. Revenues were $220.1 million, up 20.8% year over year and slightly above the consensus estimate of $219.6 million. Comparable-store sales increased by 3.1%, which was ahead of guidance of “about 3%” but below the consensus estimate of 3.4%. The company raised its full-year revenue guidance, but narrowed its full-year EPS guidance and offered 3Q16 guidance that was below consensus estimates. 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
Analyst CornerWeekly Insights Sep 2, 2016 Coresight Research September 2, 2016 Executive Summary This week’s note “From the Desk of Deborah Weinswig” talks about how the US Labor Day holiday marks the traditional end of summer and, increasingly, the start of the holiday shopping season. Despite being bombarded with branded content through social media and targeted ads, 64% of millennials say they are as brand loyal as their parents, or even more so. According to a recent survey, only 1% of millennials say they are influenced by advertising. Two Dutch companies are developing a new delivery service for online orders. With the service, drones could deliver packages to smart, Internet-connected mailboxes. The service aims to remove the need for a human to place parcels, and deliveries could be scheduled for any time of the day. The Mexican peso is weak versus the US dollar right now, but Mexican nationals are still crossing the border to shop in the growing number of American shopping centers in Texas and Arizona. Mexican residents account for nearly US$4.5 billion in annual retail sales in Texas, particularly in counties along the border. 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
Flash ReportCtrip (CTRP) 2Q16 RESULTS: EARNINGS BEAT DUE TO MARKETING COST SAVINGS AND STRONG CHINESE TRAVEL DEMAND Coresight Research September 2, 2016 Executive Summary Ctrip, China’s leading online travel agent, reported in-line 2Q16 revenues of ¥4.41 billion, up 75% year over year. Non-GAAP net profit of ¥0.06 billion beat the consensus estimate of a loss of ¥0.04 billion, but was down 81% year over year due to the consolidation of Qunar. Management guided for net revenue growth of approximately 70–75% year over year for the third quarter of 2016. Chinese outbound travel to Europe weakened due to the events in Istanbul and Nice, but this was partially offset by strong demand for outbound travel to North America. China’s online travel industry is increasingly concentrated and has been shifting to mobile. More than 70% of Ctrip’s orders are generated from the mobile platform. 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
Flash ReportChico’s FAS (CHS) 2Q16 RESULTS: BETTER THAN EXPECTED, COST CUTS AHEAD Coresight Research September 1, 2016 Executive Summary Chico’s FAS reported 2Q16 adjusted EPS of $0.25 and beat the consensus estimate of $0.22. Revenues decreased 7.3% to $635.7 million from $685.8 million in the second quarter last year, and beat the consensus estimate of $632.4 million. Comparable-store sales decreased by 3.1% versus the consensus of (3.9)%. Guidance for the second half was updated to exclude Boston Proper. The company expects a low-single-digit comparable sales decline for the second half of 2016. The decline in sales will result in a decline in gross margin due to deleveraging of store occupancy costs. 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
