Insight ReportDillard’s (DDS) 4Q16 Results: Solid Inventory Control in Tough Quarter Coresight Research February 22, 2016 Executive Summary Dillard’s reported fiscal 4Q16 net sales of $2.1 billion, down 2.9% from $2.1 billion in the year-ago quarter and slightly below the consensus estimate. EPS was $2.31, below the consensus estimate of $2.48 and down from $3.17 a year ago. Total merchandise sales were $2.1 billion, down 2% year over year, and comps were also down 2%. Stronger sales of home and furniture and ladies’ accessories and lingerie were offset by weaker sales of juniors’ and children’s apparel and shoes. During the fiscal year, the company opened three stores, one each in Utah, Louisiana and Ohio, and closed two stores in addition to announcing one store closure in South Carolina. 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 ReportUS Quarterly Retail E-Commerce Sales: 4Q15 E-COMMERCE SALES GREW BY 11.2% IN 4Q15 Coresight Research February 21, 2016 Executive Summary In the fourth quarter of 2015, US online retail sales (excluding auction sites, event tickets and nonretail travel) made via desktops and mobile devices rose by 11.2% year over year, to $88.1 billion, according to comScore. Total online spending rose by 9.9%, to $127.3 billion. 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 ReportVF Corporation (VFC) 4Q15 Results: Warmer Winter Weighed on Results Coresight Research February 19, 2016 Executive Summary VF Corp. reported adjusted 4Q15 EPS of $0.95 versus the consensus estimate of $1.01. Total revenue was $3.41 billion versus consensus of $3.63 billion. Management noted a softer consumer environment, unseasonably warm weather and a strengthening US dollar as headwinds it faced in the fourth quarter. FY16 guidance calls for implied EPS of roughly $3.23 versus consensus of $3.43. Total revenue is expected to increase by a mid-single-digit rate. Consensus implies a 6% growth rate in sales. This document was generated for
Analyst CornerWeekly Insights Feb 19, 2016 Coresight Research February 19, 2016 Executive Summary This week, the FBIC Global Retail & Technology team attended the MAGIC trade show in Las Vegas. MAGIC initially featured only menswear, but the event’s scope has been expanded to encompass 11 separate categories, including women’s, juniors’ and children’s apparel. Tech companies are still figuring out how to make virtual reality the kind of technology that people cannot live without, and they are turning to science fiction for inspiration. Facebook-owned Oculus distributes a copy of the popular sci-fi novel Ready Player One to new hires, and startup Magic Leap has hired sci-fi and fantasy writers. The British Retail Consortium, the trade association for the UK retail industry, and Springboard, a British retail intelligence firm, announced that average foot traffic across all types of locations in the UK rose by 1.2% year over year in January. The figure was significantly higher than the 2.2% decline seen in December. Experts at the Singapore Centre for 3D Printing at Nanyang Technological University are currently developing plans to build the city’s future public housing by integrating 3D printing technology with a “LEGO-like” strategy for assembly. Neither a printer large enough to build on such a scale nor printable concrete currently exists; both will have to be developed. This document was generated for
Insight ReportWalmart (WMT) 4Q16 Results: Mostly In-Line Quarter, Outlook Hurt by Store Closures, Strong Dollar Coresight Research February 18, 2016 Executive Summary Walmart reported fiscal 4Q16 revenues of $129.7 billion, down 1.4% year over year and slightly below the consensus estimate of $130.5 billion. Revenues increased by 2.2% excluding currency effects. Adjusted EPS was $1.49, beating the consensus estimate by three cents, but coming in below adjusted EPS of $1.53 in the year-ago quarter. US comps increased by 0.6%, while international sales increased by 3.3% excluding currency and comps at Sam’s Club declined by 0.5% excluding fuel. The company reduced its FY17 sales growth guidance to flat from 3%–4% previously, owing to store closures and the strengthening US dollar, and guided for EPS of $4.00–$4.30, in line with the consensus estimate of $4.14. 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 UpdateUnicharm (TYO: 8113) FY15 Results: Performance Weaker than Expected Coresight Research February 18, 2016 Executive Summary Unicharm reported a 10.9% increase in adjusted revenue and a 4.9% increase in adjusted operating income for the 12 months ending December 31, 2015. A deteriorating economic environment in emerging markets, a shift toward online sales in China, and an increase in marketing and business development costs contributed to the weaker-than-expected performance. Operating income in Asia decreased by 17.8% year over year, while operating income in Japan increased by 21.2%. Operating income in the US, Saudi Arabia, Brazil and the Netherlands increased by 43.9%, on an adjusted basis. EPS rose by 24.3% year over year, to ¥67.55, which was lower than ¥73.24 projected at the start of the fiscal year. This document was generated for
Company Earnings UpdateNordstrom (JWN) 4Q15 Results: Soft Outlook Based on Current Sales Trends Coresight Research February 18, 2016 Executive Summary Nordstrom reported 4Q15 EPS of $1.17, excluding items, versus the consensus estimate of $1.22. Total revenues, including credit card revenues, were $4.19 billion versus consensus of $4.22 billion. Comps were up 1.0% versus consensus of 0.6%. Full-line comps were down 3.2%, while Nordstrom.com was up 11%, Nordstrom Rack down 3.0% and Nordstromrack.com/HauteLookup 50%. Full-year 2016 guidance calls for EPS of $3.10–$3.35 versus consensus of $3.54. Net sales are expected to be up 3.5%–5.5% based on comps that are expected to be flat–2%. This document was generated for
Insight ReportExpress Scripts (ESRX) 4Q15 Results: Surprise Sales Dip, Soft Outlook Coresight Research February 17, 2016 Executive Summary Express Scripts reported 4Q15 revenue of $26.2 billion, slightly below the consensus estimate of $26.5 billion and roughly flat compared to the same quarter a year ago. The company reported diluted EPS of $1.56, in line with the consensus estimate of $1.56 and up 12.2% year over year. The company narrowed its EPS guidance for FY16. The company now expects earnings in the range of $6.10–$6.28 versus previous guidance of $6.08–$6.28. The current consensus estimate is for EPS of $6.13. For 1Q16, Express Scripts expects earnings in the range of $1.18–$1.22, below the consensus of $1.28. 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 ReportFossil Group (FOSL) 4Q15 Results: Earnings Exceed Expectations, Driven by New Brands and Investments in Digital Operations Coresight Research February 16, 2016 Executive Summary Fossil Group reported 4Q15 revenue of $992.5 million, which was down 6.8% year over year, but above the consensus estimate of $927.6 million. Excluding currency effects, revenue decreased by 2%. The addition of the Kate Spade New York and Chaps brands, investments in its namesake brand, and double-digit e-commerce growth boosted revenue results. Fossil reported diluted EPS of $1.46, which beat the consensus estimate of $1.31 but was below the $3.00 recorded for the year-ago quarter. Excluding onetime items and currency effects, adjusted EPS was $2.52. The company expects full-year 2016 EPS of $2.80–$3.60, in line with the consensus estimate of $3.12. For the current quarter, the company expects sales to decline by 7%–10%, with EPS of $0.05–$0.20. Consensus estimates call for a 9% decline in sales and EPS of $0.42. 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 ReportBuy Buttons Coresight Research February 16, 2016 Executive Summary Buy buttons enable shoppers to make a purchase from within a social media platform without having to switch apps or websites. Social media giants such as Facebook, Twitter and Pinterest have all tested buy buttons, with varying levels of success. Startups such as Keep and Two Tap are trying to disrupt e-commerce by creating universal shopping carts. Amazon’s patent on “1-Click” purchases is set to expire soon. 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 ReportLands’ End CEO Steps Down Coresight Research February 15, 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
Flash ReportVictoria’s Secret CEO Sharen Jester Turney Abruptly Resigns; L Brands’ Chairman and CEO Les Wexner to Assume Role Coresight Research February 12, 2016 Executive Summary Today, L Brands announced that Victoria’s Secret CEO Sharen Jester Turney has decided to resign. Turney said her departure is based on her decision to prioritize her family and personal life and consider her next professional steps. Leslie (Les) H. Wexner, Founder, Chairman and CEO of L Brands, will assume leadership of Victoria’s Secret. L Brands recently reported record 4Q sales, with revenues and EPS ahead of consensus estimates. This document was generated for
Analyst CornerWeekly Insights Feb 12, 2016 Coresight Research February 12, 2016 Executive Summary It is that time of year again, when love is in the air—and Americans are expected to spend fully $19.7 billion on loved ones this Valentine’s Day. Some 55% of US consumers who responded to a survey said they will mark Valentine’s Day, spending an average of $146.84 on products and services, up 3% from last year. Candy is the top Valentine’s category. Worldwide mobile app store revenue is forecast to reach $101 billion in five years as smartphones become cheaper and data plans more accessible. The number of smartphone and tablet users is expected to more than double by 2020, to 6.2 billion, up from 2.6 billion today, and some of the strongest growth will come from India, Indonesia, China, Mexico, Brazil and Turkey. Amazon Prime is now available to customers in Belgium. The annual membership fee is €49 (US$55), which is lower than the fee in the US and the UK. For customers ages 18 to 24, Amazon is offering Prime membership at a discounted fee of €24 (US$27). The services in Belgium, however, are more limited than those offered in the US and the UK. SK Telecom and Ericsson are building a network to connect handsets to wireless networks and wired infrastructure. “5G will be a hundred times faster than LTE networks, and [the] data transfer rate is projected to be over 20 Gbps,” said SK Telecom. This document was generated for
Insight ReportL’Oréal (EPA: OR) FY15 Results: Revenues Lifted by Currency Effects and Luxury Fragrances Coresight Research February 11, 2016 Executive Summary L’Oréal reported that FY15 revenue increased by 12.1%, to €25.3 billion, beating the consensus estimate. EBIT increased by 12.8%, to €4.4 billion, which was slightly below consensus. EPS increased by 15.7%, to €6.18, in line with the consensus estimate. Revenue was sustained by favorable currency fluctuations and by strong sales in the company’s luxury division. 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 ReportSteve Madden (SHOO) 4Q15 Results: Earnings in-line, but Outlook is Soft Coresight Research February 11, 2016 Executive Summary Steve Madden reported 4Q15 revenue of $344.3, up a modest 0.5% year over year and exceeding the company’s previous guidance of $344.1. The company updated guidance The company reported diluted EPS of $0.43 for the quarter, up 27% year over year and in line with the consensus estimate. The company had guided for a 25% increase. The retail business posted strong performance with a 6.1% comparable store sale gain. Steve Madden expects to earn $1.93–$2.03 a share, short of the $2.10 consensus estimate. This document was generated for
