Insight ReportAbercrombie and Fitch’s (ANF) COO Jonathan Ramsden Steps Down Coresight Research May 5, 2016 Executive Summary On May 5, Abercrombie and Fitch’s current COO and former CFO, Jonathan Ramsden, announced his resignation, effective June 15. Ramsden’s responsibilities will be assumed by other members of the management team. The company has experienced a number of management changes recently. 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 UpdateAbercrombie & Fitch (ANF) 1Q16 Results: Abercrombie Experiences Traffic Challenges that Are Not Expected to Improve in 2Q Coresight Research May 5, 2016 Executive Summary Abercrombie & Fitch reported adjusted 1Q16 EPS of $(0.53) versus the consensus estimate of $(0.51). Total revenues were $685.5 million versus consensus of $709.5 million. Comps declined by 4% versus expectations of 1.5% increase. By brand, comps at Abercrombie were down 8% versus consensus of a 0.7% decline and comps at Hollister were flat versus consensus of 3%. By region, US comps were down 2% and international comps were down 7%. Management expects 2Q16 to remain challenging overall and specifically in terms of comp results. For FY16, the company expects to see comps improve in the second half. Gross margins are expected to increase slightly over last year and operating expenses are expected to be flat year over year on a US-dollar basis. This document was generated for
Insight ReportSainsbury’s (LON: SBRY) FY16 RESULTS: MISSES EXPECTATIONS AS GROCERY PRICE WAR HITS PROFITS Coresight Research May 4, 2016 Executive Summary The UK’s second-biggest grocery retailer, J Sainsbury, reported that revenues were down by 1.1% and that comps were down by 0.9% for the year ended March 2016. FY16 revenues came in at £23.51 billion versus the consensus estimate of £23.54 billion. Stripping out the impact of write-downs in FY15, underlying basic EPS fell by 8.3%. On a reported basis, diluted EPS climbed from (8.7) pence in FY15 to 22.5 pence in FY16, missing the consensus of 24.6 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
Insight ReportKate Spade (KATE) 1Q16 Results: US Comps Show Biggest Gain in over a Year Coresight Research May 4, 2016 Executive Summary Kate Spade reported 1Q16 adjusted EPS of $0.05, in line with the consensus estimate. Total revenues were $274.4 million versus consensus of $268.2 million. North American sales were $218.7 million versus consensus of $214.6 million, while international sales were $48.9 million versus consensus of $49.0 million. Full-year guidance calls for EPS of $0.70–$0.80, consistent with prior guidance and compared to consensus of $0.77. Revenue guidance was reaffirmed at $1.385–$1.410 billion compared to consensus of $1.40 billion. Adjusted EBITDA is expected to be $257–$282 million versus consensus of $263.5 million. Comp growth in the direct-to-consumer business is expected to be up in the low-to-mid teens. 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 (UA) Announces the Departure of Two Key Executives Coresight Research May 4, 2016 Executive Summary Henry Stafford, Chief Merchandising Officer at Under Armour, will leave the company in July. Kip Fulks, Chief Marketing Officer, will assume the Chief Merchandising Officer responsibility on an interim basis. Robin Thurston, Chief Digital Officer, will also leave the company in July. Michael Lee, Senior Vice President of North America Digital, will take on Thurston’s responsibilities. Thurston is a co-founder of MapMyFitness and Lee is a co-founder of MyFitnessPal. Under Armour acquired the former in December 2013 and the latter in March 2015. 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 ReportDelhaize (DEG) FY15 Results: Profitability Improves Ahead of Merger with Ahold Coresight Research May 3, 2016 Executive Summary Delhaize reported FY15 EPS of €3.54, an increase of 306.8% from FY14 but below consensus of €4.37. The company reported that revenue increased by 14.2%, to €24.4 billion, just below the consensus estimate. Underlying EBIT increased by 14.4%, to €872.0 million, above the consensus estimate of €854.0 million, while net income increased by 312.5%, to €366.0 million, below consensus of €432.6 million. Delhaize’s revenue in FY15 was lifted by positive comps in all geographies in which the company operates and by store network expansion. For FY16, the company’s top priority is to complete its merger with Ahold. This document was generated for
Flash ReportBurlington (BURL) 4Q15 Results: Revenues in Line, Beats on EPS, Outlook in Line Coresight Research May 3, 2016 Executive Summary Burlington reported 4Q15 revenues of $1.5 billion, up 3.5% and in line with the consensus estimate. Comparable store sales increased by 0.1%, which was above the flat consensus expectation and above guidance. The company reported adjusted EPS of $1.49 for the quarter, up 4.3% from a year ago and beating both consensus of $1.46 and guidance of $1.44–$1.46. The upside was driven by strong performance in the home, beauty (which includes bath, cosmetics and fragrances), youth and missy sportswear categories. For 2016, the company expects comps in the low single digits and adjusted EPS of $2.62–$2.72, versus consensus of $2.72. Burlington expects revenue to increase by 6.5%–7.5%, implying sales of $5.43–$5.48 billion, versus the consensus of $5.43 billion. This document was generated for
Flash ReportAeropostale to File for Bankruptcy in the Coming Days Coresight Research May 3, 2016 Executive Summary Aéropostale is preparing to file for Chapter 11 bankruptcy protection within the next few days. Aéropostale has generated losses in each of its last three fiscal years This document was generated for
Insight ReportProfiling Scoop Retail: The In-Store Digital Platform Coresight Research May 3, 2016 Executive Summary Scoop Retail was founded in London in 2015 to help retailers provide customers with an e-commerce-like in-store experience and to better equip store associates to serve customers. The company’s founders wanted to create a frictionless experience for customers who use a retailer’s digital technology in-store. Mobile point-of-sale options, queue-management systems and ordering kiosks are the three technologies consumers think are most important while shopping. In-store tech has a number of tailwinds behind it: millennial consumers are often looking for convenient, information-rich and tech-enabled shopping experiences; brick-and-mortar retailers continue to look for ways to integrate their online and in-store experiences; and Internet retailers are increasingly opening physical 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
Flash ReportCoty (COTY) 3Q16 Results: Color Cosmetics Gains Offset Declines in Fragrance Coresight Research May 3, 2016 Executive Summary Coty reported 3Q16 adjusted EPS of $0.09 versus the consensus estimate of $0.12. Total revenues were up 2% year over year, to $950.7 million, versus expectations of $970.7 million. The Europe, Middle East and Africa (EMEA) region and the color cosmetics category led sales growth: each posted a sales increase of 11% on a reported basis. Full-year guidance calls for like-for-like revenue performance to remain consistent with year-to-date trends. Adjusted operating income is expected to be in line with the prior year due to the impact of foreign exchange; high-single-digit growth is expected on a constant-currency basis. This document was generated for
Insight ReportGap (GPS) 1Q16 Results: Gap Outlines Changes for the Long Term Coresight Research May 3, 2016 Executive Summary Gap Inc. reported 1Q EPS of $0.32, in line with consensus and the updated guidance provided on May 9th. Currency fluctuation negatively impacted EPS by $0.02. As previously reported, total revenues were $3.44 billion. Comps were down 5%. Management is not reaffirming its full-year EPS guidance. The company noted that the current consensus of $1.92 “falls within a reasonable range of potential outcomes.” The company also noted that trends in the apparel retail environment would need to improve from 1Q for EPS to get to $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 ReportEstée Lauder (EL) 3Q16 Results: EMEA Region Leads Performance in the Quarter Coresight Research May 3, 2016 Executive Summary Estée Lauder reported 3Q16 adjusted EPS of $0.73, excluding onetime items and including a $0.03 negative impact related to foreign exchange, versus the consensus estimate of $0.61. Total revenues were $2.66 billion, in line with expectations. Total sales increased by 6% on a constant-currency basis versus consensus of 7.1%; on a reported basis, sales increased by 3%. Full-year guidance calls for EPS of $3.09–$3.14, which is above prior guidance of $3.07–$3.12. Guidance for sales growth of 7%–8% on a constant-currency basis is consistent with prior guidance. 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 ReportAbercrombie & Fitch (ANF) 4Q15 Results: Mixed Quarter as Same-Store Sales Turn Positive Coresight Research May 2, 2016 Executive Summary Abercrombie & Fitch reported 4Q15 revenues of $1.1 billion, down 0.6% but slightly above the consensus estimate. On a constant-currency basis, revenues increased by 2.0%. Comparable sales increased by 1% on a constant-currency basis, the first increase in more than three years, beating the consensus estimate of flat sales. The company reported adjusted EPS of $1.08 for the quarter, down 6.3% from the year-ago quarter but above the consensus estimate of $0.99. The upside was driven by strong holiday online sales, demand for the Hollister brand and the company’s shift to softer styles from logo-splashed apparel. For 2016, the company expects flat to slightly positive comp sales, compared with the consensus estimate of a 0.8% increase. 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 May 01, 2016 Coresight Research May 1, 2016 Executive Summary Mother’s Day is a big event for retailers, and stores are promoting gifts for moms of all types, offering discounts on women’s clothing, handbags and jewelry. Home goods and kitchen appliances are also heavily featured in Mother’s Day sales 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
Insight ReportLululemon (LULU) 4Q15 Results: Solid Results, Ambitious E-commerce Goals Coresight Research April 30, 2016 Executive Summary Lululemon reported fiscal 4Q2015 revenue of $704.3 million, up 16.9% year over year from $602.5 million, higher than the consensus estimate of $693.8 million. EPS was $0.85, beating the consensus estimate by $0.05. Total comparable sales, including comparable-store sales and direct to consumer, were up 11% on a constant currency basis. Management guided for net revenue of about $2.3 billion and EPS of $2.05 to $2.15 in 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
