Insight ReportPrada (SEHK: 1913) FY16 Results: Asian Markets Hit Profits Hard at Prada Coresight Research April 8, 2016 Executive Summary Prada reported revenue of €3,548 million in the year ending January 31, 2016, down 0.1% from €3,552 million in FY15 and slightly below the consensus estimate of €3,550 million. Reported EPS was €0.129 for FY16, down26.7% from €0.176 in FY15 and below the consensus of €0.14. The company stated that the downturn in the international luxury products market, particularly in Asia, was to blame for the poor performance. 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 ReportFast Retailing (TYO: 9983) 1H16 Results: Company Revises Guidance Downward Due to Weak Performance in Key Regions Coresight Research April 7, 2016 Executive Summary Fast Retailing reported fiscal 1H16 revenues of ¥1,011.6 billion, up 6.5% year over year but missing the consensus estimate of ¥1,042.5 billion. EPS was ¥461.43, down 55.1% from ¥1,027.75 in 1H15. In the fiscal first half, Uniqlo Japan reported declines in both revenue and profit; Uniqlo International reported a rise in revenue and a decrease in profit; and the Global Brands division reported increases in both. For fiscal 2016, the company expects revenues of ¥1,800.0 billion, a 7.0% year-over-year increase. The company also expects EPS of ¥588.55, compared to ¥1,027.75 in fiscal 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
Insight ReportRite Aid (RAD) 4Q15 Results: Double-Digit Revenue Increase Driven by Envision Acquisition Coresight Research April 7, 2016 Executive Summary Rite Aid reported 4Q15 revenues of $8.3 billion, up 20.8% year over year but slightly below the consensus estimate of $8.4 billion. Growth was driven by the acquisition of a pharmacy-benefit manager. Adjusted EPS was $0.07, above the consensus estimate of $0.06 and up 16.6% year over year. However, the company reported its first decline in retail and pharmacy same-store sales in years. Same-store sales were down 0.6% year over year, driven by a 0.8% drop in pharmacy sales and a 0.4% drop in retail sales. Last October, Rite Aid agreed to be acquired by Walgreens Boots Alliance (WBA) in a transaction valued at $17.2 billion. The deal is pending regulatory approval, and the companies expect the transaction to close in the second half of 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
Event Presentation5 Ways Amazon Is Shaking Up Retail Coresight Research April 6, 2016 Executive SummaryOUR EXPERTISE: A UNIQUE COMBINATION OF RETAIL, FASHION AND TECH Fung Global Retail & Technology advises retailers, real estate developers and tech companies on projects situated at the intersection of retail, tech and/or fashion. Our team offers a robust knowledge bank and significant experience in the retail, fashion and tech fields. We are involved in many areas of the business and believe this allows us to offer a unique perspective by focusing on the future and where the sector is heading. 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 ReportH&M (STO: HM-B) 1Q16 RESULTS: STRONG US DOLLAR AND MILD WEATHER HURT PROFITS Coresight Research April 6, 2016 Executive Summary Swedish fast-fashion chain H&M reported revenue of SEK 43,691 million for 1Q16, which ended February 29, 2016. This was up 8.5% year over year and broadly in line with the consensus estimate of SEK 43,702 million. Reported EPS was SEK 1.54 for 1Q16, down 29.4% from SEK 2.18 in the same period in FY15, but beating the consensus estimate of SEK 1.47. H&M’s CEO noted that noted that the unusually warm autumn resulted in much of the winter stock being unsold, and that the strong US dollar adversely affected sales and purchasing costs in the first quarter. He added that the company expects the currency effects to neutralize or have a slightly positive impact through the rest of the 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
Flash ReportWalgreens Boots Alliance (WBA) 2Q16 Results: In-Line Results Driven by Strong Pharmacy Business Coresight Research April 5, 2016 Executive Summary Walgreens Boots Alliance reported fiscal 2Q16 revenues of $30.2 billion, up 13.6% from the year-ago period and slightly below the consensus estimate of $30.7 billion. Adjusted EPS was $1.31, up 10.8% year over year and slightly above the consensus estimate of $1.28. The company reported quarterly US comps of 2.2% versus the consensus of 4.3%. The company raised the lower end of its EPS guidance range for the year by five cents, and is now guiding for EPS of $4.35–$4.55, versus the consensus estimate of $4.48. This document was generated for
Insight ReportHUDSON’S BAY COMPANY (TSE: HBC) 4Q15 Results: Results Driven by the GALERIA Acquisition Coresight Research April 4, 2016 Executive Summary Hudson’s Bay Company reported 4Q15 normalized diluted EPS of C$0.79. EBITDA in the quarter was C$455.0 million versus consensus of C$441.8 million. Total revenues were C$4.5 billion versus consensus of C$4.3 billion. Year over year, revenues increased by 70.4%, driven by the acquisition of GALERIA. On a constant-currency basis, comps were up 1.8%, as previously reported. Sales growth in the department store segment was driven by women’s and home. Categories of strength at Saks Fifth Avenue included menswear and cosmetics, while women’s ready to wear showed weakness. At Saks Off 5th, accessories and footwear drove growth. At HBC Europe, beauty and accessories led sales 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 ReportLululemon “Un-brands” with the New Lululemon Lab in New York City Coresight Research April 3, 2016 Executive Summary Lululemon Athletica opened its second Lululemon Lab in Lower Manhattan, where all the clothes are designed in house in small batches. The company has seen robust growth and reported earnings in March were above consensus estimates. Lululemon’s history has been somewhat unusual, though the company is shedding all negative light for a new and improved image. 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 Apr 03, 2016 Coresight Research April 3, 2016 Executive Summary Easter came a week earlier in 2016, so stores shifted to their spring offerings earlier this year than last year. Department stores are offering deep discounts on clearance items to make way for spring and summer items. Macy’s is promoting it’s “buy online, pick up in store” service, offering an additional 20% off customers’ next store purchase. 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 Apr 1, 2016 Coresight Research April 1, 2016 Executive Summary This week, the Fung Global Retail & Technology team attended the Israel Dealmakers Summit, which was held March 29–30 in Silicon Valley, California. The Summit is the premier Israel-focused business event of the year and showcases a curated gathering of companies, investors, dealmakers and entrepreneurs. At the conference, we also visited the Israel IoT (Internet of Things) delegation. A survey of 500 US consumers, commissioned by Retale and conducted by Survey Sampling International, shows that a significant number of shoppers take advantage of buy-online, pick-up-in-store services. All 500 polled had previously used such a service. UK retailer JD Sports completed its deal to acquire Dutch outdoor and sportswear retailers Perry Sport and Aktiesport from Unlimited Sports Group. The two acquired retailers have 187 stores across the Netherlands. Messaging app Line said it will launch a prepaid card, Line Pay Card, in partnership with credit card company JCB. JCB’s affiliation with American Express means customers will be able to use the card at 20 million merchant locations abroad and 9.6 million locations in Japan. The prepaid card ties into the Line Pay app, which allows consumers to make online and in-store payments via smartphone at select locations. This document was generated for
Market Navigators/Market OutlookOnline Marketplaces for Handcrafted and Vintage Merchandise Coresight Research March 29, 2016 Executive Summary Online craft marketplaces are peer-to-peer platforms that sell handmade or custom-made products, which are usually created by the sellers themselves. The sellers are typically artisans and designers. Etsy is the archetypical online craft marketplace. In 2015, its annual gross merchandise sales grew to $2.39 billion and its number of active sellers reached 1.56 million. Amazon expanded into the handcrafts market when it launched Handmade at Amazon in 2015. Consumers spent $34 billion on general crafts, fine arts, jewelry and bead crafts in the US in 2015; Etsy’s share of this market was only 3.9%. 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 Mar 27, 2016 Coresight Research March 27, 2016 Executive Summary Easter came early in 2016, so stores had Easter promotions this same week last year Department stores are offering deep discounts on clearance items to make way for spring and summer items. Department stores are offering separate online sales that offer increased discounts 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 Mar 25, 2016 Coresight Research March 25, 2016 Executive Summary In this week’s From the Desk, we discuss Weinswig’s Hourglass Model, which illustrates where outperformance and underperformance are to be found in retail. The model is still relevant—not simply because budget retailers have seen sustained growth. At the top end of the hourglass, there is luxury, but that is not the only segment at the upper end of the market. There is another segment of the upper consumer market that continues to outperform: lifestyle brands. Fashion brand Michael Kors announced its foray into the wearable industry at Baselworld 2016. The first item in the new wearable technology accessories line is the Michael Kors Access smartwatch, which starts at $395 and will be available in the fall of 2016. Germany-based ecommerce pureplay Zalando, last week delivered its first parcel from a store, in a move to become the platform that connects its brands and its customers. Through its logistics network, Zalando collected and delivered a purchase from Bodycheck, a lifestyle store in Berlin on March 17. Panasonic has developed a device to monitor signals sent between electronic control units inside a car via an internal communications network based on the widely used Controller Access Network protocol. Unauthorized signals are detected and canceled out. This document was generated for
Insight ReportExpress (EXPR) 1Q16 Results: Express Offers Muted Outlook as Comps Disappoint Coresight Research March 25, 2016 Executive Summary Express reported adjusted 1Q16 EPS of $0.25 versus the consensus estimate of $0.27. Total revenues were $502.9 million versus consensus of $521.5 million. Comps (including e-commerce) declined by 3% versus guidance for a low-single-digit increase. Management provided 2Q16 EPS guidance of $0.15–$0.19, based on a mid-single-digit comp decline, versus consensus of $0.29. FY16 guidance is now for EPS of $1.41–$1.54, down from $1.56–$1.71 previously. That is based on an expected comp decline in the low- to mid-single-digit range and versus previous guidance for a low-single-digit increase in comps. Consensus is for EPS of $1.66. Guidance for both 2Q16 and FY16 reflects the current retail environment. 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 Brands Overview Coresight Research March 24, 2016 Executive SummaryAGENDA US Luxury Market Overview The US Luxury Consumer Contemporary Fashion Trends Brand Analysis 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
