Insight ReportMichael Kors (KORS) 3Q15 Results: Inflection in Comps Driven by Better Conversion Coresight Research February 2, 2016 Executive Summary Michael Kors’ 3Q15 EPS was $1.59 versus consensus of $1.46. Total revenue in the Americas increased by 0.4%, to $1.06 billion. European revenue grew by 14.3%, to $276.0 million, and revenue in Japan increased by 59.1%, to $25.5 million. Comps were down 0.9% in the period versus guidance that called for a mid-single-digit decline and consensus of (4.4)%. Comp trends improved sequentially. Management provided 4Q15 guidance for EPS of $0.93–$0.97 versus consensus of $1.00. Comps are expected to be flat and total revenues are expected to be $1.13–$1.15 billion versus consensus of $1.16 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
Insight ReportLVMH (ENXTPA: MC) FY2015 Results: Earnings Miss Consensus Even as Revenues Hold Up Coresight Research February 2, 2016 Executive Summary LVMH Moët Hennessy Louis Vuitton reported 16.4% revenue growth for the year through December 2015. Organic revenue growth for the year was 6%. Revenue of €35.7 billion was marginally above the consensus estimate of €35.6 billion. Basic EPS fell by 36.9%, to €7.11, below the consensus estimate of €7.31. The company noted “strong progress” in Europe, the US and Japan; a normalization of demand for its Wines & Spirits segment in China; and a positive impact from exchange rates. 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 ReportOcado (LON: OCDO) FY2015 Results: Improvements to the Top and Bottom Lines Coresight Research February 2, 2016 Executive Summary Online grocery retailer Ocado today reported revenue growth of 16.7%, and its second year of net profit, for the year ending November 2015. Basic EPS rose by 62%, to 2.01p, in line with consensus estimates. Active customer numbers and order volumes grew by double digits, but average order sizes declined slightly in a deflationary market. The company did not meet its goal of signing an agreement to license its technology to an international retailer by year-end, but said that it continues to aim for multiple license agreements over the medium term. 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 UpdateAlphabet (GOOG) 4Q 2015 Results: First-Ever Alphabet Results Blow Past Expectations Coresight Research February 1, 2016 Executive Summary In its first reported quarter following Google’s restructuring into two divisions, Alphabet reported 4Q15 revenues of $21.3 billion, up 18% year over year and far exceeding the consensus estimate of $16.9 billion. Diluted non-GAAP EPS were $8.67, up 28.3% year over year and exceeding the consensus estimate of $8.09. Revenue drivers were mobile search, YouTube and programmatic advertising. Aggregate paid clicks increased by 31% year over year, and paid clicks on Google websites increased by 40% year over year alongside decreases in cost per This document was generated for
Insight ReportCatalyst – A Li & Fung Company Coresight Research February 1, 2016 Executive Summary Catalyst offers a broad product line of RFID systems for inventory management, omni-channel operations, customer experience and loss prevention. The company, a division of Li & Fung, and has more than 60 employees and offices in the UK, the US, China and France. Catalyst provides end-to-end support and in-depth employee training on the use of all its systems. Catalyst has seen early success in testing its smart technology with Lucky Brand Jeans, which plans to start using RFID as a benchmark against manual stock counts. 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 ReportGeneral Growth Properties (GGP) 4Q15 Results: Company Raises Key Coresight Research February 1, 2016 Executive Summary In 4Q15, real estate investment company General Growth Properties reported strong, 14.2% funds from operations (FFO) revenue growth, up from $357 million a year earlier. Diluted FFO EPS increased by 13.8%, to $0.43 from $0.38 in the prior year period, beating the consensus estimate of $0.42. The company had revenue of $644.6 million for the quarter, beating the consensus estimate of $625.8 million. General Growth Properties expects continued growth in 2016 despite challenging macroeconomic conditions. It raised its full-year EPS guidance to $1.52–$1.56, compared with the consensus estimate of $1.54 and prior guidance of $1.51–$1.55. 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 ReportSuitsupply Report Coresight Research February 1, 2016 Executive Summary Founded in 2000, Dutch omni-channel fashion brand Suitsupply aims to persuade men to buy suits online. The company has rapidly expanded internationally. It competes in the midmarket on price, but in the high-end market on quality. 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 ReportSimon Property Group Inc. (SPG) Fourth-Quarter FY2015 Results: Results Meet Expectations, Guidance Lower Than Expected Coresight Research January 29, 2016 Executive Summary Real estate investment company Simon Property Group reported fourth-quarter funds from operations (FFO) of $2.40 per share, in line with the consensus estimate of $2.40, but below the $2.47 per share recorded for the same quarter a year ago. Total revenue rose at a favorable rate of 6.4% year over year, to $1.38 billion, meeting the consensus estimate of $1.38 billion. For the fiscal first quarter of 2016, Simon Property Group forecasts FFO in the range of $10.70 to $10.80, lower than the consensus estimate for earnings of $10.89 per share. Simon Property Group declared a dividend of $1.60 per share, an increase of 14.3% 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
Flash ReportColgate-Palmolive (CL) Fourth-Quarter FY2015 Results: Solid Organic Growth in a Difficult Environment Coresight Research January 29, 2016 Executive Summary Colgate-Palmolive reported solid 5.0% organic fourth-quarter 2015 revenue growth, led by emerging markets, however sales were a shade below the consensus estimate. Adjusted EPS, excluding charges for an accounting change in Venezuela and a restructuring program, were $0.73, beating the consensus estimate by a penny. Sales grew the fastest in Latin America and at Hill’s Pet Nutrition products, and the company gained share in toothpaste and manual toothbrushes in 2015. Colgate-Palmolive expects continued organic growth in 2016 despite challenging macroeconomic conditions, and a low-single-digit decline in EPS, with the midpoint of the adjusted range nine cents below the consensus estimate of $2.94. This document was generated for
Company Earnings UpdateAmazon (AMZN) Fourth-Quarter 2015 Results: Earnings Disappoint as Heavy Spending Continues Coresight Research January 28, 2016 Executive Summary Amazon reported EPS of $1.00 for the fourth quarter of 2015, well below the consensus estimate of $1.55. Higher fulfillment expenses and technology and content expenses weighed on profits. Revenues came in slightly below expectations, at $35.7 billion, an increase of 22% versus the year-ago period, and were led by Amazon Web Services sales, which were up 69%. In 2015, worldwide Prime memberships increased by 51%. They increased by 47% in the US and even faster internationally. For the first quarter of 2016, management expects total sales of $26.5–$29.0 billion, representing growth of 17%–28%, versus consensus of $27.68 billion. Operating income is expected to be between $100 million and $700 million versus consensus of $665.3 million. This document was generated for
Company Earnings UpdateAlibaba (BABA) Third-Quarter FY2016 Results: Beats on EPS and Revenue Thanks to Increase in Users and Surge in Mobile Revenue Coresight Research January 28, 2016 Executive Summary Chinese e-commerce giant Alibaba reported that fiscal-third-quarter net sales were up 32% year over year, to ¥5 billion (US$5.33 billion), beating consensus estimates of ¥33.2 billion (US$5.13 billion). The company reported core EPS (excluding onetime items) of $0.99 for the quarter, up 27% year over year, beating the consensus of $0.89. Gross merchandise volume (GMV) was up 23% year over year, to $149 billion, versus consensus of $155.2 billion. The number of active buyers in the period increased by 22% year over year, to 407 million, versus consensus of 386 million. Mobile monthly active users (MAUs) increased by 48%, to 393 million in December, which accounted for an increase of 192% in the company’s mobile revenue. This document was generated for
Insight ReportH&M (STO: HM-B) Fourth-Quarter FY 2015 Results: Below Expectations Despite Strong Expansion Coresight Research January 28, 2016 Executive Summary H&M reported revenue that was up 19%, to SEK180.9 billion (US$21.7 billion) for fiscal year 2015, and revenue that was up 14%, to SEK48.7 billion (US$5.8 billion) for the fourth quarter, but both periods’ results missed consensus estimates. Profit after tax was also below consensus; it was up 5% for fiscal year 2015, but down 11% for the fourth quarter. The company reported earnings per share of SEK12.63 (US$1.51) for the full year, an increase of 5% versus the prior year, but below the consensus estimate. The strong US dollar affected profitability during the fiscal year by increasing purchasing costs, while unseasonably warm weather in November affected sales in H&M’s core markets. Store and online expansion contributed to sales growth in a number of markets during the fiscal year, and the company plans continued expansion during fiscal year 2016a 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 UpdateUnder Armour (UA) Fourth-Quarter FY 2015 Earnings Review: Premium Footwear Drove Outsized Growth; Continued Opportunity Ahead Coresight Research January 28, 2016 Executive Summary Under Armour reported fourth-quarter EPS of $0.48 versus the consensus estimate of $0.46. Total revenue was up 31% year over year, to $1.17 billion, compared to expectations of $1.12 billion. Excluding currency effects, sales were up 33%. Sales in the footwear category led growth, increasing by 95% due to the success of the Stephen Curry signature basketball line. Apparel sales increased by 22% and accessories sales by 23%. International sales increased by 70% in the period. Full-year guidance calls for total revenue of $4.95 billion versus consensus of $4.91 billion and operating income of $503 million. That represents sales growth of 25% over the prior year and 23% growth in operating income, in line with the company’s financial targets. This document was generated for
Flash ReportCoach (COH) Second-Quarter FY2016 EARNINGS Review: Turnaround Yields Results Coresight Research January 27, 2016 Executive Summary Coach reported fiscal-second-quarter 2016 EPS of $0.68, excluding onetime items, versus the consensus estimate of $0.66. The period represented improvement in the company’s turnaround plan, which it began to implement several years ago. The company’s store channel improved, led by full-price stores, while outlet stores also improved, despite lower tourist traffic and a highly promotional environment. Total sales were up 4%, or up 7% on a constant-currency basis, to $1.27 billion. Coach brand sales declined by 3%, to $1.18 billion, while Stuart Weitzman sales totaled $94 million. Coach maintained its full-year revenue guidance (on a constant-currency basis) and its operating margin guidance, though it is raising its forecast for operating income based on second-quarter results for the Stuart Weitzman business. Total revenue is expected to increase in the low single digits, while operating margins are expected to be in the mid- to high teens. This document was generated for
Insight Report(EBAY) Fourth-Quarter FY2015 Earnings Review: Guidance Disappoints Coresight Research January 27, 2016 Executive Summary eBay reported fourth-quarter 2015 EPS of $0.50, in line with consensus expectations. Gross merchandise volume (GMV) was up 5% year over year, to $21.86 billion versus consensus of $22.02 billion. The number of active users in the period increased by 5%, to 162 million, from 159 million in the year-ago period, and was versus consensus of 160.9 million. The company provided first-quarter 2016 guidance for EPS of $0.43–$0.45 versus consensus of $0.48. Total revenues are expected to be $2.05–$2.10 billion versus consensus of $2.16 billion. Full-year guidance calls for EPS of $1.82–$1.87 versus consensus of $1.98. Total revenue is expected to be $8.5–$8.8 billion, compared to expectations of $8.99 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
