Insight ReportFoot Locker (FL) 2Q16 RESULTS: TOPS EXPECTATIONS DRIVEN BY SAME-STORE SALES Coresight Research August 22, 2016 Executive Summary Foot Locker reported 2Q16 revenues of $1.78 billion, up 5% from the year-ago quarter and above the consensus estimate of $1.76 billion. Reported EPS were $0.94, up 11.9% year over year and exceeded expectations of $0.90. Comps were up 4.7%, driven by gains across basketball, running, classic footwear and apparel. Foot Locker Canada led all banners, with comps up in the low double-digits range on top of double-digit comp gains last year. The company maintained fiscal 2016 guidance of EPS up double-digits, in line with the consensus EPS of +10% or $4.72. Comps are expected to be up mid-single-digits versus the consensus of +4%. For 3Q16, management expects comps up mid-single digits compared to the consensus of +4.7%. EPS is projected to increase “close to” double-digits versus the consensus of +12% or $1.12. 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 DiveGlobal Furniture and Homewares E-Commerce Coresight Research August 22, 2016 Executive SummaryGlobal online furniture and homewares revenues are projected to increase by a five-year compound annual growth rate (CAGR) of 15% to US$220 billion in 2020, according to Statista. The US and the UK are expected to see 7.6% and 13.7% CAGRs in online furniture and homewares sales, respectively, for the same time period. The UK had the highest percentage of furniture and homewares purchases made online in Europe at approximately 12.1% in 2015, even higher than the 8.6% in the US. The online channel is very suitable for researching hundreds of varying designs and products, without the need to visit an endless round of stores. More customization options are available online and allow for a level of differentiation not available in-store. In the last few years, numerous innovative pure-play furniture and home furnishings retailers have been established across the world, including Made.com and Loaf.com in the UK market. 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 ReportNetEase (NTES.US) 2Q16 RESULTS: REVENUE AND EARNINGS BEAT; VR/AR DEVELOPMENT TO PROPEL FUTURE GROWTH Coresight Research August 22, 2016 Executive Summary NetEase, a leading online game service provider in China, reported second-quarter revenues of ¥8.95 billion, up 96% year over year and 6% ahead of the consensus estimate. Non-GAAP earnings per American Depository Share (ADS) was ¥24.41, up 103% year over year and beat the consensus estimate of ¥18.43. Online game service revenue increased 76% year over year to ¥6.44 billion and accounted for 72% of total revenues. Email, e-commerce and other services posted a revenue growth of 311%. During the earnings call, management guided the company will leverage on virtual reality (VR) and augmented reality (AR), invest in its core gaming platforms, and expand its advertising business and e-commerce platform to drive future 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 ReportTidal Labs: Data-Driven Consumer-to-Consumer Marketing Coresight Research August 22, 2016 Executive Summary Tidal Labs gives companies access to influencers on a mass scale and helps media outlets manage the content that influencers create for them. The company’s data-driven platform, ContentMetric, matches multiple influencers with brands and solves the problem of scale in influencer marketing. The trend of higher portions of marketing budgets being directed towards influencers across many industries presents an opportunity for companies like Tidal Labs. Influencer marketing currently accounts for 2–10% of total marketing budgets. 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 ReportEstée Lauder (EL) 4Q16 RESULTS: EPS BEATS CONSENSUS, SOLID BUT MIXED GUIDANCE Coresight Research August 22, 2016 Executive Summary Estée Lauder reported adjusted 4Q16 EPS of $0.43, ahead of the $0.40 consensus estimate and up 8.3% year over year. Revenues were $2.65 billion, up 4.8% year over year and slightly below the consensus estimate. Makeup was the strongest product category in the quarter; revenues were up 12% year over year, and skincare sales grew just 3%, both in constant currency. Europe, the Middle East and Africa were the strongest geographic regions, with sales up 12%, Asia Pacific was up 6% and the Americas were up 4%, also in constant currency. For fiscal year 2017, guidance is for sales up 6%–7% in constant currency, slightly above the consensus estimate, and EPS guidance is $3.38–$3.44, below the $3.52 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
Deep DiveIntroduction to Deep Learning and Neural Networks Coresight Research August 22, 2016 Executive Summary Deep learning and neural networks are techniques used in computer science to analyze data. They are especially useful in pattern and image recognition. Neural networks use software to mimic the function of the many neurons in the human brain. These functions can be tuned over time; this means man-made neural networks can learn. Deep learning refers to the use of multiple layers of neural networks. Consumers benefit from these technologies every day when they read curated news headlines, research renting a room online or converse with a chatbot. Although the emerging artificial intelligence (AI) market is estimated at just $400 million this year, it can potentially enhance tens of billions of adjacent markets such as, medicine, consumer electronics, robotics, and most importantly, autonomous cars. Many global industrial and technology companies are pursuing autonomous cars. Venture capitalists and technology companies are aggressively investing in and acquiring AI startups. 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 ReportStein Mart (SMRT) 2Q16 Results: Misses on EPS, Lowers SG&A Guidance, New Initiatives for 3Q16 Coresight Research August 22, 2016 Executive Summary Stein Mart reported 2Q16 EPS earnings of $0.06, and missed the consensus estimate of $0.07 by $0.01. Total revenues were $319.8 million compared to $311.6 million last year, which is a 2.6% increase. The company missed the revenue consensus estimate of $326.1 million by 2.0%. Comparable store sales decreased by 1.4%, but new-store sales and a controlled markdown strategy contributed to the sales growth. Management maintained its revenue and gross profit guidance and decreased its SG&A guidance to $360 million, compared to $370 million previously. 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 Aug 21, 2016 Coresight Research August 21, 2016 Executive Summary Bloomingdale’s is promoting more items this week than it did during the same week last year. Last year, the retailer focused on online-exclusive sales, offering customers up to three online-only promotions. This year, Bloomingdale’s is having a five-day, in-store-only sale, which it did not run last year. JCPenney is running fewer promotions than it did during this week last year. The retailer is promoting its JCPenney credit card by offering customers additional discounts of up to 25% when they use it to make a purchase, just as it did during this week last year. Kohl’sran more promotions during this week last year than it is offering this week. This year, the company is offering additional discounts of up to 30% when customers use Kohl’s Cash, whereas last year, it offered an additional 15% off. This week last year, Kohl’s featured longer-running sales, with some sales lasting up to 13 days. This week, Macy’s is running fewer promotional sales than it did last year. The retailer offered more one-day-only sales last year than it is offering this 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
Analyst CornerWeekly Insights Aug 19, 2016 Coresight Research August 19, 2016 Executive Summary This week’s note “From the Desk of Deborah Weinswig” highlights the US Fung Global Retail & Technology team’s participation in the MAGIC trade show in Las Vegas this week, as well as our key takeaways from the event. For a limited time, McDonald’s will be giving away fitness trackers with Happy Meals, replacing the plastic figurine or toy that is typically included. The fitness trackers will come in six colors and will count steps and blink according to how quickly the wearer is moving. In pursuit of a more modern and flexible business intelligence system, German discount chain Lidl is currently spending millions on new IT systems that reportedly can optimize its product range, pricing, consumer communication and discounts. Many Thai firms are investing heavily in healthcare for the aging population, as Thailand will see those over 60 account for more than 15% of its total population by the end of 2016. CT Asia Robotics offers an elderly care robot, Dinsow, that can keep track of elderly consumers’ medication, video-phone their relatives, exercise together with them and even entertain them with karaoke skills. 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 ReportFoot Locker (FL) 1Q16 Results: In-Line Quarter, Marking 25th Consecutive Quarter of Revenue and Profit Growth Coresight Research August 19, 2016 Executive Summary Foot Locker reported 2Q16 revenues of $1.78 billion, up 5.0% from the year-ago quarter and above the consensus estimate of $1.76 billion. Reported EPS were $0.94, up 11.9% year over year and exceeded expectations of $0.94. Both sales and earnings results were better than expected. Comps were up 4.7% with sales driven by positive comparable sales across basketball, running, and classic footwear, as well as apparel. The company maintained fiscal 2016 guidance of comps up mid-single digits and EPS up double digits in line with the consensus of +10.0% or $4.72. For 3Q16, management expects EPS to increase “close to” double digits versus the consensus of +12.0% or $1.12. 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 ReportThe Fung Global Retail & Technology team attended JCPenney’s analyst meeting today in Plano, TX. Coresight Research August 19, 2016 Executive Summary CEO Marvin Ellison characterized the company as having turned the corner, and as now targeting growth and profitability. The company aims to return to profitability this year and to generate EPS of $1.40–$1.55 in 2019. Management has simplified and clarified the company’s strategy and made an effort to get to know its emerging customer profile and give her what she wants and needs. Focus areas include providing her with value (in terms of utility and ease of shopping), offering a beauty solution, becoming a destination for special (i.e., plus) sizes, and enabling her to refresh her home. At the same time, JCPenney is working to improve its supply chain, technology, and omni-channel and in-store entertainment offerings. 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 ReportRoss Stores (ROST) 2Q16 RESULTS: ABOVE EXPECTED PERFORMANCE; WOMEN’S BUSINESS CHALLENGING Coresight Research August 19, 2016 Executive Summary Ross Stores reported 2Q16 EPS of $0.71 and beat the consensus estimate of $0.67, and was up 13% from last year. The Midwest was one of the strongest performing regions, and the company plans further expansion there. Weakness in the ladies’ apparel business and rising labor costs are two headwinds for Ross Stores. The company slightly lowered its guidance for the fiscal year and guided for EPS of $2.69–$2.75 versus the prior guidance of $2.63–$2.72. 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 ReportGap (GPS) 2Q16 Results: Turnaround Continues Coresight Research August 19, 2016 Executive Summary Gap reported 2Q16 adjusted diluted EPS of $0.60, beating the consensus estimate by a penny and versus guidance of $0.58–$0.59. The figure excluded a $0.29 impact associated with the company’s restructuring plans. Total revenues were $3.85 billion, down 1.2% from $3.90 billion in the year-ago quarter. By brand, Gap comps were down 3%, Banana Republic comps were down 9% and Old Navy comps were flat. Management updated its full-year diluted EPS guidance to $1.37–$1.47. Excluding the negative impact of restructuring costs, which is expected to be $0.45–$0.50, the company expects its adjusted diluted EPS to be $1.87–$1.92. 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 ReportLowe’s (LOW) 2Q 2016 RESULTS: EARNINGS MISS, FULL YEAR GUIDANCE CUT Coresight Research August 18, 2016 Executive Summary Lowe’s reported EPS was $1.31 for 2Q 2016, up 9.2% but below the consensus of $1.42. Revenues were $18.3 billion, up 5.3% year over year and below the consensus. The foreign currency hedge in advance of the RONA acquisition decreased pre-tax earnings by $84 million and EPS by $0.06. Overall comps were +2.0% and +1.9% for US stores, down from a 7.3% increase in 1Q 2016 and missed the consensus of 4.2%. Comps were aided by an increased demand for seasonal items and strength in indoor project demand. The company maintained comps +4.0% for 2016 and lowered its EPS guidance from $4.11 to $4.06 to reflect its acquisition of Canadian retail company, Rona, which was completed in May. The consensus calls for EPS of $4.06 for 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 ReportKingfisher (LSE: KGF): Strong Top-Line Performance in 2Q17 Coresight Research August 18, 2016 Executive Summary UK-based home-improvement retailer, Kingfisher, reported total sales increased by 3.2% at constant currency in 2Q17, with group comps up 3.0% at constant currency. Solid growth was driven by strong performances in the UK and Poland. The company grew comparable sales by 7.2% in the UK and Ireland, but French comps fell 3.2% at constant currency. Kingfisher will report full 1H17 results on September 20. 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
