Insight ReportJCPenny (JCP) 4Q15 Results: Begins to Gain Back Some of Its Lost Market Share Coresight Research February 26, 2016 Executive Summary JCPenney reported 4Q15 adjusted EPS of $0.39 versus the consensus estimate of $0.22. Adjusted EBITDA was $381.0 million versus consensus of $324.3 million. Total revenue was $4.0 billion versus expectations of $3.99 billion. Comps were up 4.1% versus consensus of 3.9%. Home, Sephora, footwear and handbags were the top-performing categories. Full year guidance calls for EPS to be positive versus consensus of $(0.28). Comps are expected to be up 3%–4%. Free cash flow is expected to improve year over 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
Insight ReportLoblaw (TSE: L) 4Q15 Results: Earnings Hit by Write-Downs, Aims for Positive Comps and Stable Margins in 2016 Coresight Research February 26, 2016 Executive Summary Loblaw reported 4Q15 adjusted EPS of C$0.88, an increase of 6.0% and below the consensus estimate of C$0.90. The company reported that 4Q15 revenue increased by 2.3%, to C$10.9 billion, beating the consensus estimate of C$10.8 billion. GAAP net income was down 34.4%, to C$128 million, due to the impact of write-downs and special items. 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 ReportFoot Locker Inc (FL) 4Q15 Results: Strong Sales Benefited from Nike and Under Armour Coresight Research February 26, 2016 Executive Summary Foot Locker reported 4Q15 revenue of $2.0 billion, up 5.0% year over year, in line with the consensus estimate. The company reported adjusted EPS of $1.16 for the quarter, up 16.0% year over year and beating the consensus estimate of $1.12. The upside was driven by sales in the basketball and running footwear segments. Comparable-store sales increased by 7.9%, beating the consensus of 5.9% and in line with guidance for a mid-single-digit increase. For 2016, Foot Locker expects a mid-single-digit comp increase, in line with the consensus estimate of 4.7%. EPS is projected to grow in the double digits versus analysts’ expectations of a 10.8% increase, to $4.75. 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 ReportBaidu (BIDU) 4Q15 Results: Strong Revenue Growth with a Higher Contribution from Mobile Coresight Research February 26, 2016 Executive Summary Baidu’s gross merchandise value totaled ¥7 billion (US$2.3 billion) for 4Q15, an increase of 397% year over year. Total revenues rose by 33.1% year over year. 4Q15 declined 15.7% year over year, excluding an exchange of Qunar shares with Ctrip. The contribution from mobile climbed to 56%. However, margins compressed due to higher transaction services and iQiyi-related costs. 1Q16 total revenues are forecasted to increase by 21.1%–25.5% year over year, to ¥4–¥16.0 billion (US$2.4–US$2.5 billion). This document was generated for
Insight ReportGPA (PCAR4) 4Q15 Results: Grupo Pão de Açúcar’s 4Q Revenues Flattish but with Lower Margins, Price Competition to Continue in 2016 Coresight Research February 26, 2016 Executive Summary Grupo Pão de Açúcar reported flat 4Q15 revenues of BRL$19.7 billion, slightly below the consensus estimate of BRL$19.9 billion. EPS was BRL$0.55, falling far short of the consensus estimate of BRL$0.99. GPA’s consolidated same-store sales declined 2.3% in 4Q15, and 1.2% overall for 2015, due mostly to the decline in sales of durable goods. During 4Q15, GPA opened 25 new stores, 24 of which were food retailers. In 2016, the company intends to continue to focus on price competitiveness during Brazil’s economic slowdown. 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 ReportWoolworths (ASX: WOW) 1H16 Results: Slight EPS Miss, Rebuilding the Business Comes at a Cost Coresight Research February 26, 2016 Executive Summary Woolworths reported 1H16 EPS of A$0.73 before significant items, a decrease of 33.5% and below the consensus estimate of A$0.76. EPS, after significant items, was A$(0.77). The company reported that total 1H16 revenue decreased by 1.4%, to A$32.0 billion, in line with the consensus estimate. Revenue excluding automotive fuel was up 1.2%, to A$29.5 billion. The company reported a net loss of A$972.7 million in 1H16, due to the impact of significant items. The company expects 2H16 to remain challenging, with no significant improvement in comps. 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 Inc. (GPS) 4Q15 Results: Results in Line, but Guidance Light Coresight Research February 26, 2016 Executive Summary Gap reported 4Q15 EPS of $0.57 versus the consensus estimate of $0.56. On February 8, management updated its quarterly earnings guidance to $0.56–$0.57. As reported on February 8, quarterly comps were down 7% and total sales were down 6.8%, to $4.39 billion. By brand, Gap comps were down 3%, Banana Republic comps were down 14% and Old Navy comps were down 8%. FY16 guidance calls for EPS of $2.20–$2.25. 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 ReportKohl’s (KSS) 4Q15 Results: New Stores and Online Demand to Drive Future Growth Coresight Research February 25, 2016 Executive Summary Kohl’s reported 4Q15 revenues of $6.4 billion, up 0.8% from $6.3 billion in the year-ago period and slightly above the consensus estimate. Reported adjusted EPS was $1.58, down 13.8% from $1.83 in 4Q14 but $0.02 above consensus. The company reported quarterly comps of 0.4%, which represented the fifth consecutive quarter of positive comps. However, the comp growth was below management’s expectation. The company guided for adjusted EPS of $4.05–$4.25 and flat–1% comp sales growth 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
Event PresentationRetailment Driven Trends Coresight Research February 25, 2016 Executive Summary Agenda About Fung Business Intelligent Centre(FBIC) Top 16 Global RETAIL Trends for 2016 Stores are the New Engagement/Retailtain-me! 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 ReportChico’s FAS (CHS) 4Q15 RESULTS: COMPS AND REVENUES DOWN; COMPS FLAT TO DOWN AND HIGHER EPS IN 2016 Coresight Research February 25, 2016 Executive Summary Chico’s reported 4Q15 adjusted EPS of $0.05 versus estimated EPS of $0.00. Net revenue for the quarter was $627.4 million, down 4.5% year over year from $657.9 million in 4Q14. The fall in revenue was due to a decline of 3.2% in comparable sales and a decrease in sales of the Boston Proper line. Chico’s guided for fiscal 2016 comps “flat to slightly down,” a flat gross margin, an operating margin approximately 100 basis points higher, and a $0.09 increase in EPS to $0.84. This document was generated for
Insight ReportSoriana (BMV: SORIANAB) 4Q15 Results: Revenues in Line, Consumers Confident as Labor Market Improves and Inflation Stays Low Coresight Research February 25, 2016 Executive Summary Soriana reported 4Q15 revenues of MXN$30.8 billion, in line with the consensus estimate and up 7.3% year over year. Bloomberg calculates EPS of MXN$0.73, flat with the consensus estimate and up just MXN$.01 from last year. Private consumption remained strong in Mexico despite global monetary policies and a strengthened US dollar. Soriana’s comps increased by 6.2% in 4Q15 and by 5.6% in 2015. Soriana acquired 143 stores from Controladora Comercial Mexicana in 4Q15 and opened four new units, for a total of 11 new units in 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 ReportCarter’s (CRI) 4Q15 Results: Beats Forecasts, but Issues Mixed Guidance Coresight Research February 25, 2016 Executive Summary Carter’s reported 4Q15 revenue of $866.5 million, down 0.3% year over year but beating the consensus estimate of $854.4 million. (There was an additional week in 2014, so 4Q15 revenue was up 5.0% on a 13-week aligned basis.) On a constant-currency basis, revenue increased by 1.0% in the quarter. The company reported adjusted EPS of $1.40 for the quarter, up 6.1% year over year and above the consensus estimate of $1.29. The upside was driven by the Carter’s retail and OshKosh retail segments. The company provided diluted EPS guidance for 2016 of $4.98–$5.07, up 8%–10% year over year but short of the $5.12 consensus estimate. Revenue is expected to increase by 6%–7% year over year, to $3.19–$3.22 billion, in line with the consensus estimate of $3.20 billion. This document was generated for
Insight ReportSears Holdings (SHLD) 4Q15 Results: Sales and Margins Hurt by Promotions, Weather; Management Committed to Profitability in 2016 Coresight Research February 25, 2016 Executive Summary Sears reported 4Q15 revenues of $7.3 billion, down 9.8% year over year and beating the consensus estimate by about $50 million. Adjusted EPS, excluding significant items, was $(1.70), ahead of the $(2.62) consensus estimate, compared to $(0.34) a year ago. Comps declined by 7.1%, based on a decline of 7.2% for Kmart and 6.9% for Sears Domestic. Although comps improved in 4Q versus the prior three quarters, the unseasonably warm weather and promotional environment brought higher markdowns and hurt margins. In 2016, management aims to accelerate the company’s transformation and improve gross margin in order to return to profitability and generate positive adjusted EBITDA. 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 UpdateTumi (TUMI) 4Q15 Results: Solid Quarter and Outlook Despite Soft Comps Coresight Research February 25, 2016 Executive Summary Tumi reported 4Q15 revenues of $167.7 million, up 2.3% year over year and slightly above the consensus estimate of $164.1 million. Revenues increased by 4.4% on a constant-currency basis. Adjusted EPS was $0.37, up 5.7% year over year and ahead of the consensus estimate of $0.32. Comps for direct-to-consumer channels decreased by 4.6% and decreased by 3.4% on a constant-currency basis, based on a 5.6% decrease in full-price sales, a 6.0% increase in outlet sales and a 14.8% decrease in e-commerce sales. Direct-to-consumer comps were up 7.0% in euros. 2016 sales are expected to increase by 4%–6% on flat comps, and EPS is expected to be $0.93–$0.97, compared to $0.93 for 2015. This document was generated for
Insight ReportMercadoLibre (MELI) 4Q15 Results: Beats Consensus Estimates, Expands Into Four Additional Latam Countries Coresight Research February 25, 2016 Executive Summary MercadoLibre reported 4Q15 revenues of US$180.7 million, up 12.0% in USD and 69% in local currencies, beating the consensus estimate of US$170.0 million. EPS was US$0.88, up 15.8% and beating the consensus estimate of US$0.67. Total payment volume through MercadoLibre’s online-payment system, MercadoPago, increased by 97.0% in local currencies and 41.7% in USD in 4Q15. In 2015, MercadoLibre’s net revenues grew by 17.1% year over year to US$651.8 million, and the company launched in three new countries in 2015 including Bolivia, Paraguay and Guatemala. 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
