February 14, 2019 Insight Report Premium First Round of US Tax Refunds Lower, Likely Due to Tax Changes and Government Shutdown: 2019 Tax Tracker #1The drop in returns filed is likely due to confusion ensuing from tax law changes, combined with reduced availability of IRS agents due to the government shutdown.
February 14, 2019 Market Navigators/Market Outlook Premium Sector Overview: Beauty Brands and Retailers — Global Companies are Innovating with Independent Brands to Expand PortfoliosThe $464 billion global beauty industry is seeing independent brands, diversification of traditional retailers, growth in men and children and new channels such as popups, medical retailers and pharmacies. Consumers are looking for “clean beauty” and dermocosmetics.
February 13, 2019 Insight Report Premium US Store Closures 2019 Outlook: No Light at the End of the TunnelStore closure announcements so far in 2019 are up 23% versus this time last year, with potentially many more on the way due to retail bankruptcies continuing at a rapid pace. The number of filings in the first six weeks of 2019 is already at one-third of last year’s total.
February 13, 2019 Company Earnings Update Register for Free Access Under Armour (NYSE: UAA) 4Q18 Results: Revenue and EPS Beat Consensus Estimates; Company Maintains Outlook for FY19Under Armour reported 4Q18 sales of $1.39 billion, beating the consensus estimate of $1.38 billion; and, $0.09 adjusted EPS, beating the consensus estimate of $0.04.
February 12, 2019 Insight Report Premium January 2019 US Same-Store Sales: Costco Misses Consensus, L Brands Comps DeclineCostco’s January comps misses expectations but e-commerce continues to shine
February 12, 2019 Market Navigators/Market Outlook Premium Sector Overview: Retail REITs — An Industry in FluxFor US retail REITs, occupancy rates are improving, vacancies are decreasing and rent asking rates are increasing, but store traffic and other metrics remain negative. REITs are welcoming non-traditional occupants, particularly food. Just 20% of “A” malls generate 72% of all mall sales in the US.
February 12, 2019 Insight Report Premium New Retail Briefing #3: Walmart China Eyes Retail Innovation; A.S. Watson and Unilever Agree to New Retail PartnershipsWalmart China launched the Omega8 initiative in January 2019 to serve as a proof of concept (POC) platform that lets tech startups test newly designed technology applications in a real retail environment. Walmart reported over 50 startups signed up for the initiative. Walmart will train these companies in a variety of retail operation skills. Walmart said its existing 400 offline stores in China will act as testing grounds for startup technology before rolling out to mass market. This Omega8 initiative shows Walmart’s ambition of leveraging tech startups for its own digital innovation, and understanding of the Chinese market. Ben Hassing, Senior Vice President of Walmart China said, “Walmart has worked with many technology startups not only to propel our business in China, but also to understand the Chinese market and China in greater depth.”
February 11, 2019 Question of the Week Free Report How Many Mobile Phone Subscriptions Are There in China?Question of the Week February 11 2019 – How Many Mobile Phone Subscriptions Are There in China?
February 11, 2019 Insight Report Premium Understanding the Asian Retail Market, Including Eight Insights from China: Deborah Weinswig’s CES 2019 PresentationSummary of the presentation given by Deborah Weinswig, CEO and Founder of Coresight Research, at CES Las Vegas on January 9, 2019, focusing on eight things people can learn from China.
February 11, 2019 Company Earnings Update Register for Free Access L’Oréal (ENXTPA: OR) FY18 Results: Highest Comparable Sales Growth in Over a DecadeL’Oréal reported FY18 EPS of €7.08, up from €6.65 in FY17, but slightly below the €7.11 consensus estimate. Total revenues were €26.9 billion, up 4% year over year and above the €26.8 billion consensus estimate.
February 11, 2019 Company Earnings Update Register for Free Access Coty (NYSE: COTY) Fiscal 2Q19 Results: Revenues Down But Luxury Beauty Up; Beats Analysts’ EstimatesCoty fiscal 2Q19 revenues were $2.51 billion, down 4.8% year over year and beating the consensus estimate of $2.47 billion.
February 8, 2019 Market Navigators/Market Outlook Premium Sector Overview: US Home and Home Improvement Retailers — Mixed Signals in a Time of BountyAnnual growth in national spending on home improvement and repair is expected to decelerate in 2019, due to rising mortgage interest rates and flat home sales activity, according to the Joint Center for Housing Studies of Harvard University. Despite this deceleration, other indicators such as home prices, permit activity, and retail sales of building materials are expected to continue to strengthen and drive continued increases in spending in 2019.
February 8, 2019 Company Earnings Update Register for Free Access Tapestry (NYSE: TPR) 2Q19 Results: Improved Margin Performance at Coach but Revenues Miss ConsensusAt Coach, global comparable store sales rose 1%, led by outperformance in international and e-commerce channels. Business in Greater China accelerated and Coach’s business with the Chinese consumer increased. Comps were positive in Europe and Japan as well, offset by negative comps in North America and Korea. Comps declined 11% at Kate Spade as the business transitions to a new design team. Marketing to support the launch of Nicola Glass’s new collection was moved to the current quarter (3Q19), and the initial read is positive.
February 8, 2019 Company Earnings Update Register for Free Access Skechers (NYSE: SKX) 4Q18 Results: EPS Beats Consensus Estimate but Revenues and Comps MissIn 4Q18, the company grew sales 11.4% to $1.08 billion, missing the $1.1 billion consensus estimate. On a constant-currency basis, the company recorded $1.1 billion in sales, up 13.7% year over year, reflecting a $22.3 million currency adjustment. The company’s international wholesale business grew 18.4%, missing the 20.2% consensus estimate. The global retail business increased 7.5%, lower than the 8.1% consensus estimate, while the domestic wholesale business grew 4.8%, missing the 9.0% consensus estimate.
February 8, 2019 Company Earnings Update Register for Free Access Macerich (NYSE: MAC) 4Q18 Results: Results Meet/Beat Estimates, 2019 FFO Guidance Below ConsensusSame-center net operating income (excluding lease termination revenue) grew 4.2% compared to the year-ago quarter. The Company’s joint venture in One Westside (formerly known as Westside Pavilion) in Los Angeles, entered into a lease with Google for the entirety of its 584,000-square foot office campus. The company’s joint venture in Country Club Plaza in Kansas City entered into a lease with Nordstrom.
