Insight ReportNext (LON:NXT) FY16 RESULTS: SALES BEAT CONSENSUS, CAUTIOUS OUTLOOK FOR FY17 Coresight Research March 24, 2016 Executive Summary British fashion retailer Next reported £4,176.9 million in group revenues, in the 53 weeks ending January 30, 2016, beating the consensus estimate of £4,141.6 million and up 4.4% from £3,999.8 million in the 52 weeks to January 24, 2015. Diluted EPS was 443 pence for FY16, up 6.0% from 417.9 pence in FY15 and beating the consensus estimate of 431 pence. In FY17, the company expects total full price sales growth of the Next Brand to be between the range of -1.0% to +4.0%. At the mid-point of 1.5% of the guidance range, Next Brand sales are expected to be £4,092.7 million, lower than the current consensus estimate of £4,297.9 million. 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) 2015 Results: Screwfix Fixed the Results Coresight Research March 23, 2016 Executive Summary Kingfisher reported a 2015 revenue decline of 4.8%, to £10.4 billion, above the consensus estimate of £10.3 billion. Sales were up 3.8% in constant currency and adjusted to exclude B&Q China, to £10.3 billion. Operating profit before exceptional items was up 0.7%, to £692.0 million, beating expectations of £682.8 million. Adjusted diluted EPS was up 3.8%, to £0.22, versus the consensus estimate of £0.21. The performance of Screwfix in the UK and of the operations in Poland strengthened results. The company plans to generate an additional £500 million in sustainable annual profit in the next five years. For 2016, Kingfisher maintains a positive outlook for the UK but remains cautious on France and the wider global economy. 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 (PVH) 4Q15 Results: Solid Quarter Driven by Calvin Klein Business, Results Hurt by Currency Coresight Research March 23, 2016 Executive Summary PVH reported 4Q15 revenues of $2.1 billion, up 2.1% year over year and slightly exceeding the consensus estimate. On a constant currency basis, revenues were up 7%. Adjusted EPS was $1.52, above the consensus estimate of $1.46 but down from EPS of $1.76 in the same period last year. For 2016, the company expects an increase of 2% in net sales on a constant currency basis, or 1% on a GAAP basis, and EPS of $6.30–$6.50. 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 ReportNordstrom (JWN) Names Private Tech-Company CEO Kumar Srinivasan as Chief Technology Officer Coresight Research March 23, 2016 Executive Summary Today, Nordstrom announced that Kumar Srinivasan joined the company as Chief Technology Officer (CTO). Srinivasan will focus on identifying opportunities to reduce complexity while optimizing engineering and software productivity and effectiveness. Srinivasan has more than 18 years of technology and product management experience, as co-founder and CEO of Evocalize, chief product and technology officer for Bazaarvoice, and as vice president, general manager at Amazon, where he led Amazon Payments Merchant Solutions. This document was generated for
Company Earnings UpdateFive Below (FIVE) 4Q15 Results: Continues to Execute on Long-Term Goals Coresight Research March 22, 2016 Executive Summary Five Below reported 4Q EPS of $0.77 versus consensus of $0.76 and guidance of $0.75 to $0.76. Total revenues were $326.4 million, up 23.7%, versus consensus of $323.6 million and guidance of $323 to $326 million. Comps were up 3.6% versus consensus of 3.7% and guidance of 2% to 3%. Management provided 1Q guidance which calls for EPS of $0.09 to $0.10 versus consensus of $0.10. This is based on comps up 4% (versus consensus of 3.7%) and total revenues of $186 to $189 million versus the consensus estimate of $188.6 million. This document was generated for
Insight ReportNike (NKE) 3Q16 Results: Misses on Revenue, Beats on EPS, Orders Up 12% Coresight Research March 22, 2016 Executive Summary NIKE reported fiscal 3Q16 revenues of $8.0 billion, up 7.7% year over year and up 14% on a currency-neutral basis but below the $8.2 billion consensus estimate. EPS was $0.55, beating the consensus estimate by $0.06. Revenues for the NIKE Brand were $7.6 billion, up 9.1% and up 15% on a currency-neutral basis, up in all geographies and key categories. Revenues for Converse were $489 million, down 5% on a currency-neutral basis, owing to a new order system that pulled orders scheduled for 4Q15 back into 3Q15. At the end of the quarter, futures orders for delivery during March–July 2016 were up 12% year over year and 17% higher excluding currency changes. 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 ReportJet.com Update Coresight Research March 22, 2016 Executive Summary In this report, we discuss several significant developments at Jet.com since our last report on July 20, 2015. In October 2015, the company dropped its plans to charge membership fees due to management’s view that its pricing strategy will enable it to remain competitive on pricing while offering attractive profits to investors. Jet.com closed its Series B funding round, increasing its valuation to approximately $1.5 billion. This February, Jet.com acquired home goods e-commerce company Hayneedle, which should add another $350 million in revenues to its $500 million revenue run rate. In addition, we provide an update on Jet.com’s pricing mechanism, its JetAnywhere program, and its Jet Wholesale bulk purchasing plan. 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 PresentationWhat Is Driving Retail in 2016 (US and Europe) Coresight Research March 21, 2016 Executive SummaryAGENDA About Fung Global Retail & Technology Macro Summary: Europe & US Budget & Internet Shopping Drive Retail Growth in Europe & the US US Retail in Focus Top 10 Global Disruptive Retail Technology Trends 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 ReportTiffany & Co. (TIF) 4Q15 Results: Company Provides a Modest Outlook Coresight Research March 18, 2016 Executive Summary Tiffany & Co. reported 4Q15 EPS of $1.46 excluding onetime items versus consensus of $1.40. Total revenue came in at $1.2 billion, in line with expectations. On a geographic basis, worldwide comps were (5)% versus consensus of (4.4)%; Americas comps were (8)%, in line with expectations; Asia-Pacific comps were (8)% versus consensus of (9.0)%: Japan comps were 10% versus consensus of 9.4%; and Europe comps were (3)% versus consensus of (3.4)%. 2016 guidance calls for a mid-single-digit decline in EPS, which is unchanged from prior guidance and versus consensus of $3.86; 2015 EPS was $3.83. 1Q16 EPS is expected to decline by 15%–20% while 2Q16 EPS is expected to decline by 5%–10%. EPS is expected to increase in the second half 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
Analyst CornerWeekly Insights Mar 17, 2016 Coresight Research March 17, 2016 Executive Summary This week, the Fung Global Retail & Technology team attended panel discussions, met leaders from several startups and saw interesting products on display at the Interactive segment of the 2016 South by Southwest (SXSW) festival in Austin, Texas. The festival focuses on the convergence of music, film and emerging technologies. At the Bonobos shop on Fifth Avenue in Manhattan, shoppers can survey racks of clothes, try on shirts and trousers, and then decide which items to purchase. But they cannot actually buy any clothes in the store, as Bonobos outlets have no stock to sell; the idea is to divorce the purchase of a product from its distribution. Canada’s Hudson’s Bay Company announced plans to invest €1 billion in Galeria Kaufhof, which it acquired last year, over the next five to seven years. The company is also reportedly aiming to open 40 new Saks Off 5th outlets in Germany. Cainiao, a three-year-old, Alibaba-backed logistics firm, has confirmed its maiden external funding round from Temasek and other investors. The company claims to have 128 warehouses and 180,000 express delivery stations in China that allow it to offer same-day delivery in seven Chinese cities and next-day delivery in a further 90. This document was generated for
Insight ReportTencent (0700.HK) 4Q15 Results: A Blowout Quarter to Close a Strong Year Coresight Research March 17, 2016 Executive Summary Tencent reported 4Q15 revenues of ¥30.4 billion, up 45.1% year over year and ahead of the consensus estimate of ¥27.8 billion. Non-GAAP EPS was ¥0.95, beating the consensus estimate of ¥0.89. Growth was recorded across the board, driven primarily by the largest segment, Value-Added Services (VAS), with revenue growth of 34.6%. The second-largest segment, Online Advertising, posted 118.2% revenue growth. In 2016, the company plans to invest in its core platforms, new smartphone game genres, expanding its advertising business, growing its digital-content business and in its advertising platform. 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 Mark (SMRT) announces New CEO Coresight Research March 16, 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
Deep DiveRFID: Has Its Time Finally Come for Retail? Coresight Research March 15, 2016 Executive Summary Radio-frequency identification (RFID) is a 70-year-old technology that many retailers previously avoided due to concerns about cost and other factors. The global RFID market—for tags, interrogators, systems, services, networking and software—is estimated to hit approximately $13.9 billion this year and to grow at a 17.0% CAGR through 2018, according to IDTechEx. We think that trends such as accelerated shipping and omni-channel operations are finally encouraging retailers to overcome their concerns about RFID, and we have seen a significant amount of RFID activity in the retail industry over the past five years. RFID can also serve as an enabling technology for the Internet of Things (IoT), which bodes well for the technology, as an estimated 50 billion devices will be connected by 2020. 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 ReportAlimentation Couche-Tard (TSE: ATD.B) 3Q16 Results: Organic Growth Plus Acquisitions, New Stores and Rebranding Coresight Research March 15, 2016 Executive Summary Alimentation Couche-Tard reported fiscal 3Q16 revenues of $9.3 billion, up 2.5% year over year but missing the consensus estimate of $9.9 billion. Comps increased by 0.5% in the US, by 3.4% in Europe and by 0.2% in Canada. Adjusted EPS was $0.53, missing the consensus estimate of $0.59 but representing a 3.9% increase from $0.51 in the year-ago quarter. The company highlighted the ongoing strategic actions it took in the quarter, including the rebranding of certain Circle K stores, a fuel-rebranding project and an acquisition agreement with Imperial Oil. This document was generated for
Event PresentationGolden Seeds Presentation Coresight Research March 14, 2016 Executive SummaryAGENDA ABOUT THE FUNG GROUP ABOUT FUNG GLOBAL RETAIL & TECHNOLOGY MACRO AND RETAIL LANDSCAPE OVERVIEW 24 DISRUPTORS 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
