Company Earnings Update | March 14, 2019 Register for Free Access Inditex (BME: ITX) FY18 Results: Revenues Up, Missed Consensus, Integrating Online and Stores GloballyIndustria de Diseño Textil, S.A. (Inditex) reported FY18 revenues of €26.15 billion, lower than the consensus estimate of €26.41 billion and up 3.2% from the year ago period. The company reported net income of €3.44, up 2.1% from the year ago period. Comparable store sales increased 4.0% in FY18, positive across all regions and brands as well as both online and in-store. Management projects comparable sales growth of 4%-6% in FY2019. Read More
Company Earnings Update | March 14, 2019 Register for Free Access Adidas (DB: ADS) 4Q18 Results: Supply Chain Shortages Reduce Near-Term Sales OutlookIn 4Q18, Adidas net sales increased 3.5% to €5.2 billion, or 5% on a currency-neutral basis, driven by double-digit gains in Asia Pacific and Greater China. Read More
Company Earnings Update | March 13, 2019 Register for Free Access Dick’s (NYSE: DKS) 4Q18 Results: Revenues Down, Closing Hunt Category in 125 Stores in 2019Dick’s Sporting Goods 4Q18 revenues were $2.49B, down 6.5% YoY and beating the consensus estimate of $2.48B. The company reported 4Q18 EPS of $1.07, down 3.6% from the year ago period, and above the consensus estimate of $1.06. The company saw consolidated comparable sales growth of (2.2%) for the quarter on a shifted basis compared to (6.5%) from the year ago period, and the consensus estimate of (3.3%). For fiscal year 2019, the company expects EPS to be in the range of $3.15-3.35, compared to the consensus estimate of $3.34. Management projects consolidated same store sales to be flat to 2%, compared to the consensus estimate of 0.5%. The company will close the hunt category in 125 of its stores in 2019. Read More
Insight Report | March 13, 2019 Premium January 2019 US Retail Sales: Retail Rebound, Supported by Strong Sales at Home-Improvement StoresTotal retail sales excluding fuel and automobiles increased 3.7% year over year in January, growing substantially from the revised 0.1% year-over-year decline reported for December. Read More
Company Earnings Update | March 8, 2019 Register for Free Access American Eagle Outfitters (NYSE: AEO) Fiscal 4Q18 Results: Revenues Up, Comps Up 23% at Aerie, Opening 60-70 Aerie Locations in 2019AEO reported fiscal 4Q18 revenues of $1.24B, lower than the consensus estimate of $1.B, and up 1.3% YoY. The company reported 4Q18 EPS of $0.43, higher than the consensus estimate of $0.42 and exceeding the company’s guidance of $0.40-$0.42, but lower than the year ago period. American Eagle’s fourth quarter comp sales rose 3%, marking the seventh consecutive quarter of comp increases. In 1Q19, the company projects EPS of $0.19 to $0.21, lower than the consensus estimate of $0.24. AEO expects comparable sales to be in the positive low single digits. The company expects to open 60-70 stores in 2019. Read More
Company Earnings Update | March 8, 2019 Register for Free Access Burlington Stores (NYSE: BURL) Fiscal 4Q18 Results: Revenues Up, Missed Consensus, Opening 50 Net New Locations in 2019Burlington Stores, Inc. reported fiscal 4Q18 revenues of $1.99B, lower than the consensus estimate of $2.05B, and up 2.8% YoY. The company reported adjusted 4Q18 EPS of $2.83, higher than the consensus estimate of $2.77 and 28.1% higher than the year ago period which excludes the impact of the third week and the revaluation of 2017 deferred tax liabilities. Fourth quarter comparable store sales increased 1.3%, lower than the consensus estimate of 3.2%. 1Q19 earnings per share guidance is $1.21-$1.31, lower than the consensus estimate of $1.36. The company projects total sales to increase 7%-9%, compared to the consensus estimate of 8.9%. The company expects to open 50 net new stores in 2019. Read More
Company Earnings Update | March 7, 2019 Register for Free Access Urban Outfitters (NYSE: URBN) Fiscal 4Q19 Results: Revenues Up, Comps Up, Plans to Open Net 15 New Stores in 2019Urban Outfitters reported fiscal 4Q19 revenues of $1.13B, up 3.7% year over year. The company reported 4Q19 adjusted EPS of $0.83, up 20.3% from the year ago period. Comparable sales were up 3.7% YoY. By brand, comparable retail sales increased by 4% at Free People, 4% at Urban Outfitters, 2% at Anthropologie. For fiscal FY20, the company plans to open 28 new stores and close 13 stores, with a net of 15 new stores across its banners. The company stated that the Urban Outfitters’ brand recorded exceptional growth in China on its Tmall Global platform, and in the summer of 2019, the Urban Outfitters brand will launch on the larger Tmall Classic platform as well. Read More
Company Earnings Update | March 7, 2019 Register for Free Access Ross Stores (NYSE: ROST) Fiscal 4Q18 Results: Beats Estimates, Plans to Open 100 Stores in 2019Ross Stores reported fiscal 4Q18 revenues of $4.1B, up 1% YoY and above the $4.0B consensus estimate. The company’s comparable sales were up 4% in 4Q18 as compared to a 5% increase in 4Q17. For fiscal 1Q19, Ross Stores forecasts comparable sales growth of flat to up 2% and projects EPS to be $1.05–$1.11. The company plans to add 22 new Ross Dress for Less (Ross) and 6 dd’s DISCOUNTS stores in 1Q19. The company plans to open about 100 new stores in 2019, consisting of approximately 75 Ross and 25 dd’s DISCOUNTS locations. Read More
Deep Dive | March 4, 2019 Premium Amazon Apparel: Annual US Survey Reveals Amazon Has Overtaken Walmart as America’s Most-Shopped Retailer for ApparelWe explore how many US consumers are buying apparel on Amazon, which retailers these shoppers have switched their spending from, what brands and categories they are buying on Amazon, and their attitudes toward Amazon Fashion. Read More
Company Earnings Update | March 4, 2019 Register for Free Access Nordstrom (NYSE: JWN) 4Q18 Results: Soft Traffic at Full-Price Stores Penalizes SalesNordstrom net sales declined 4.7% to $4.4 billion, comps declined 1.6% in full-price and rose 4% in off-price. Operating margin was flat at 7.6%. For 2019, the company expects net sales to grow 1-2%, lower than the consensus estimate of 2.8%, and EPS to be $3.65-3.90, in line with consensus of $3.67. Read More
Company Earnings Update | March 4, 2019 Register for Free Access Foot Locker (NYSE: FL) 4Q18 Results: Revenues Up, Comps Up 9.7%, FL Closing 165 Stores in 2019Foot Locker 4Q18 revenues were $2.27 billiob, up 2.8% YoY, above consensus of $2.18 billion. The company reported 4Q18 adjusted EPS of $1.56, beating consensus of $1.40. Comps rose 9.7% for the quarter. Management expects mid-single digit comp gains and a double digit percentage increase in EPS in 2019. The company plans to close 165 stores. Read More
Company Earnings Update | March 4, 2019 Register for Free Access Gap Inc. (NYSE: GPS) Fiscal 4Q19 Results: Gap and Old Navy to Split, 230 Stores to CloseGap reported fiscal 4Q19 revenues of $4.6 billion, down 3% year over year and lower than the $4.7 billion consensus estimate. The company reported 4Q19 EPS of $0.72, up from $0.52 in 4Q18, but below the $0.68 consensus estimate. Read More
Event Coverage | March 1, 2019 Register for Free Access Becoming the “Starting Point for Fashion,” Tripling GMV in Five Years, and Ending One-Size-Fits-All: Three Insights from Zalando’s 2019 Capital Markets DayZalando wants to attract more brands to its Partner Program and to sell fulfillment and marketing services to more of them — creating a stronger multibrand proposition. Read More
Company Earnings Update | March 1, 2019 Register for Free Access L Brands (NYSE: LB) 4Q18 Results: Mixed Results, Victoria’s Secret to Close 53 Stores in 2019L Brands 4Q18 revenues were $4.85B, up 0.6% YoY and lower than the consensus estimate of $4.91B. The company reported 4Q18 adjusted EPS of $2.14, higher than the consensus estimate of $2.08. Read More
Company Earnings Update | March 1, 2019 Register for Free Access Zalando (XTRA: ZAL) 4Q18 and FY18 Results: Final Quarter Bounce Back, But Falling Basket Sizes and Rising Fulfilment Costs Remain ProblematicZalando reported a strong conclusion to the year with revenues up 24.6% year over year in 4Q18. 4Q18 adjusted EBIT came in comfortably ahead of expectations. Read More
