Company Earnings Update | February 11, 2019 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. Read More
Company Earnings Update | February 11, 2019 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. Read More
Company Earnings Update | February 8, 2019 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. Read More
Company Earnings Update | February 8, 2019 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. Read More
Company Earnings Update | February 8, 2019 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. Read More
Company Earnings Update | February 8, 2019 Register for Free Access Hanesbrands (NYSE: HBI) 4Q18 Results: Champion and International Segment Driving ResultsHanesbrands expects sales of $6.885-6.985 billion driven by a 6% increase in international sales. Growth drivers are Champion in Asia and Europe and increased innerwear sales in Asia, Australia and the Americas. U.S. innerwear sales are expected to decrease about 2% in 2019, down 4% in 1Q with an improving trend throughout the year. Adjusted operating profit of $955-985 million. Adjusted EPS of $1.72-1.80. Net cash from operations of $700-800 million. For 1Q19, guidance is sales of $1.52-1.55 billion, adjusted operating profit of $135-145 million and adjusted EPS of $0.24-0.26. Read More
Company Earnings Update | February 8, 2019 Register for Free Access Brookfield (NASDAQ: BPY) 4Q18 Results: Beats Consensus, Announces a $500 Million Repurchase ProgramBrookfield reported net income of $858 million ($0.51 per unit) versus $958 million ($0.17 per unit) in the year-ago quarter. FFO was $416 million ($0.43 per unit), compared with $286 million ($0.41 per unit) in the year-ago quarter. The increases in FFO in the quarter and year were due to the following factors: Higher investment in core retail and seasonally strong performance in the quarter, along with same-property income growth in the core office business. This strong operating performance more than offset the impact of a higher interest rate environment and negative currency effects. Read More
Company Earnings Update | February 7, 2019 Register for Free Access Capri Holdings (NYSE: CPRI) 3Q19 Results: EPS Beat Consensus Despite Revenue ShortfallCapri Holdings beat consensus adjusted EPS in 3Q19, reporting $1.76 versus $1.58. Revenues of $1.44 billion were flat year over year and estimate of $1.46 billion. Read More
Company Earnings Update | February 6, 2019 Register for Free Access Clorox (NYSE: CLX) 2Q19 Results: Aggressive Pricing and Cost-Saving Strategies Begin to Pay OffClorox posted revenue growth of 4%, largely in line with market expectations, while its adjusted EPS of $1.40 beat consensus estimates of $1.30 by 8% in 2Q19, ended December 31, 2018. The company adopted a new pricing strategy for several offerings, including its home care and laundry businesses as part of its 2020 growth strategy. This helped the company manage foreign currency and cost pressures. Read More
Company Earnings Update | February 6, 2019 Register for Free Access Estée Lauder (NYSE: EL) 2Q19 Results: Sales Reach $4 Billion; Company Raises Sales and EPS Guidance for Full YearSkincare, the company’s largest category comprising 43% of its sales, rose 16% on a reported basis (as opposed to constant currency basis) to $1.73 billion from $1.49 billion in the same quarter last year. The company credited the gains in skincare mainly to its Estée Lauder, La Mer, Clinique and Origins brands. Specifically, its Estée Lauder brand launched new product innovations in its Advanced Night Repair Eye Supercharged Complex, driving higher sales, and La Mer also launched new products including The Treatment Lotion Hydrating Mask and The Luminous Lifting Cushion Foundation. Read More
Company Earnings Update | February 6, 2019 Register for Free Access Ralph Lauren (NYSE: RL) 3Q19 Results: Brand Evolution at Ralph Lauren Gaining TractionRalph Lauren reported fiscal 3Q19 adjusted EPS of $2.32, up from adjusted EPS of $2.03 in the year-ago quarter and above the $2.15 consensus estimate. Total revenues were $1.73 billion, up 5.1% year over year (or 6% in constant currency) and above the $1.66 billion consensus estimate. Same-store sales were up 4% during the quarter. By region, in North America digital sales rose 21%, comps were flat for a combined 4% comp; in Europe, digital was up 13% and the instore comp was 3% for a total European comp of 4%; and, Asia experienced a 62% lift in digital commerce and a 4% instore comp for a combined 4% comp. A 9% increase in AUR benefitted sales growth. Read More
Company Earnings Update | February 6, 2019 Register for Free Access Ocado Group (LSE: OCDO) FY18 Results: EBITDA Slides Due to Technology Investments and New Distribution Center OpeningThe company said in 2018 it signed international partnerships with Sobeys, ICA and Kroger to develop the Ocado Smart Platform in Canada, Sweden and the U.S. respectively. Management said that its partnerships are making “good progress.” Bon Preu launched its online offer in Catalonia in November; Groupe Casino continues building its first CFC in the south of Paris; Sobeys has also started building its first CFC site in the greater Toronto area; and Kroger has planned its first three CFCs out of a total of 20 CFCs within three years. In the U.K., Ocado has started to fulfill customer orders for Morrisons from its new facility at Erith. Read More
Company Earnings Update | February 4, 2019 Register for Free Access Simon Property Group (NYSE: SPG) 4Q18 Results: In-Line Quarter, Softer 2019 Due to Department Store ClosuresIn 2018, the company opened two new shopping destinations, completed five significant property transformations and started construction on several redevelopments of former department store spaces. During 2018, the company closed on 22 mortgage loans totaling approximately $3.2 billion, , of which Simon’s share is approximately $1.3 billion. These loans carry a weighted average interest rate and weighted average term of 3.69% and 8.1 years, respectively. Read More
Company Earnings Update | February 4, 2019 Register for Free Access Unilever (LSE: ULVR) FY18 Results: Accelerating Growth to be Priority, Followed by AgilityUnilever reported revenue of €50.98 billion, slightly behind consensus of €51.06 billion and down 5.1% from FY17 due to adverse currency impacts. Organic sales were up 2.9% year over year, driven by strong growth in Asia/AMET (Africa, Middle East, Turkey)/RUB (Russia, Ukraine and Belarus) region, yet slightly below consensus of 3.0%. Unilever noted that gross margin improved 50 bps to 43.6%, but did not disclose gross profit numbers. Operating margin rose to 24.6%, 810 bps above previous year. Unilever grew its underlying operating margin from 17.5% in FY17 to 18.4% in FY18. Diluted EPS increased 61.9% to €3.48. Read More
Company Earnings Update | February 4, 2019 Register for Free Access Amazon (NASDAQ: AMZN) 4Q18 Results: Beats Consensus Estimates, Guidance Below ConsensusNorth America revenues were $44.1 billion, up 18.3% year over year, posting operating income of $1.7 billion, compared to a profit of $1.7 billion in the year-ago quarter. International revenues were $20.8 billion, up 15.5% year over year, posting an operating loss of $0.6 billion, compared to a loss of $0.9 billion in the year-ago quarter. AWS revenues were $7.4 billion, up 45.3% year over year, posting an operating profit of $2.2 billion, compared to $1.4 billion in the year-ago quarter. Read More
