Weinswigs Weekly March 16 2018 - fungglobalretailtech.com · presence through Alibaba-run e-commerce site Tmall.com. 4)In 2017 ... , Kenneth Cole, Levi’s, M&S and Timberland. The

1 DeborahWeinswig,CEOandFounder,[email protected]:917.655.6790HK:852.6119.1779CN:86.186.1420.3016Copyright©2018CoresightResearch.Allrightsreserved.

March 16, 2018

ChartoftheWeek StatoftheWeek

March16,2018

1) Thisweek’snote“FromtheDeskofDeborahWeinswig”discusseseffortsbytheapparelindustrytorecyclejeans,footwearandotheritems.

2) Krogerannouncedit’sexpandingatie-upwithInstacartinabidtohelpthetwocompaniessolvethesameproblem:Amazon.com.

3) GermandiscountretailerAldiislookingtoestablishaphysicalstorenetworkinChina,nearlyayearaftersettingupanonlinepresencethroughAlibaba-rune-commercesiteTmall.com.

4) In2017,AmazonBrazilstartedallowingthird-partysellerstolisttheiritemsonthewebsite.AccordingtoReuters,thecompanyheldameetingwithmanufacturersinBrazillastweektodiscussitsplanstostockandsellgoodsitselfinthecountry.

• USnonfarmpayrollsrosebyaseasonallyadjusted313,000inFebruary,representingthelargestgainsinceJuly2016.

• TheUSunemploymentrateinFebruaryremainedat4.1%,itslowestlevelsinceDecember2000.Meanwhile,averagehourlyearningsforprivatesectorworkersroseby2.6%yearoveryear.

Source:TheWallStreetJournal

313,000

Source:FanPageList.com/Facebook

Deborah Weinswig CEO and Founder

Coresight Research [email protected]

US: 917.655.6790 HK: 852.6119.1779

CN: 86.186.1420.3016

ProductBrandswiththeMostFacebookFansasofDec2017(Mil.)

204.8949.7048.8347.4545.0843.8543.0038.4737.4337.2232.1131.5030.6628.8428.49

0 50 100 150 200 250

FacebookforEveryPhoneInstagramRedBull

MicrosocWindowsNikeFootball

ConverseAllStarOreo

PlayStadonPepsi

StarbucksCoffeeNutella

AdidasOriginalsiTunes

Skype/WindowsLiveMessengerAdidasSoccer


March 16, 2018

FromtheDeskofDeborahWeinswig

TiredofYourOldJeans?Recycle’Em!

USretailerTargetjustannouncedthatforatwo-weekperiod(March11–24),customersinthePacificNorthwestcandropoffanykindofdenimjeansatitsstoresandreceiveacoupongoodfor20%offanewpairofjeansin-storeoratTarget.com.Theretailerisonlyacceptingfull-lengthjeansaspartoftherecyclinginitiative—noshorts,jacketsorvests—andtheymustbeleftatthedrop-offboxesinthestores.Targetranasimilartypeoftrade-inprogramin2017,butforusedcarseats.Thecompanysaidthatitrecycled2.5millionpoundsofcarseatsthroughtheeffort.

Targetisrunningthetrade-inprograminpartnershipwithaGermancompanycalledI:CO(shortfor“I:Collect”),whichbillsitselfasa“globalsolutionsproviderandinnovatorforcollection,reuseandrecyclingofusedclothingandshoes.”I:COoperatesaunique,worldwidetake-backsystemandlogisticsnetworkthatcollectsclothingandshoesinmorethan60countries.Itofferscollection,sorting,preparationandopen-orclosed-looprecyclingthatreturnsmaterialstothetextileindustryandotherindustries.Itsortsdonateddenimintotwopiles:onetobesoldsecondhandandonetoberecycled.Metalbuttonsandotherdecorationsarerecycledasmetal,anddustcreatedduringrecyclingispressedintobriquettesformakingcardboard.Textilesthathavenootheruseareusedasfuelforenergyproduction.

I:CO’slistofpartnersincludesglobalbrandssuchasAdidas,C&A,Forever21,KennethCole,Levi’s,M&SandTimberland.ThecompanyisalsoworkingwithMadewell,whichmakesadonationtoHabitatforHumanityforreturnedjeans,andwithTheNorthFace,whichofferscouponsinexchangeforreturnedclothingandfootwear.I:COworkswithinternationalresearchinstitutesandrecyclingcompaniesandisadivisionofGermany’sSOEX,whichisengagedinthecollection,processing,recyclingandtradingofrecyclablesinGermany,theUKandtheMiddleEast.SOEXalsooperatesPicknWeightKilostores,whichsellusedclothingbythekilograminfourGermancities.

Target’ssustainabilityeffortsextendwellbeyondthedenimtrade-inprogram.Oneofitsrecentlylaunchedprivate-labelbrands—UniversalThread—hasbeendesignedforfitandsustainability.Somestylesaremadefromrecycledcottonandjeggingsarefinishedwithanaturalsubstancethathelpsreducetheamountofwater,chemicalsandenergyusedduringproduction.Someofthelabel’sjeansevenhavepocketsmadewithpolyestermadefromrecycledplasticbottles.

Otherbrandshaveinstitutedongoingrecyclingprograms.Patagoniaacceptsallitsgarmentsforrecyclingandpledgesthatitsreturnedclothingwillnotendupinalandfillorincinerator.Thecompanyalsosellsusedclothingobtainedthroughitstrade-inprogramatitsPortland,Oregon,retailstore.Since2005,thecompanyhasrecycledmorethan95tonsofclothing.Patagoniabeganmakingrecycledpolyesterfromplasticsodabottlesin1993,becomingthefirstoutdoorclothingmanufacturertotransformtrashintofleece.Today,itrecyclessodabottles,manufacturingwasteandworn-outgarmentsintopolyesterfiberstoproducebaselayers,shelljackets,boardshortsandfleece.Inaddition,PatagonialaunchedTinShedVentures,aninvestmentfundthatsupportsenvironmentallyandsociallyresponsiblestartups.

H&M’srecyclingeffortistitled,simply,“RecycleYourClothes.”ThecompanypartnerswithI:COtorecycleclothingthatcustomersdropoffinstores.ThesurplusisdonatedtotheH&MFoundation,whichsplitsitamongsocialprojectsandrecyclingprojects.Inaddition,localcharityorganizationsreceive0.02eurosforeachkilogramoftextilesH&Mcollects.H&Msaysithascollectedatotalof55,000metrictonsofgarmentssincelaunchingitsrecyclinginitiativein2013.

Thisyear,Targetexpectstopreventmorethan50,000poundsofdenimfromendingupinlandfills.Thisfigureisadropinthebucketintermsofclothingwaste,astheUSgenerates25billionpoundsoftextilewasteperyear,or82poundsperresident,accordingtotheCouncilforTextileRecycling.Onlyabout15%ofthatamountisdonatedorrecycled;theremaining85%,or21billionpounds,isburiedinlandfills.Thatmeansthatdiscardedapparelmakesupmorethan5%ofallmunicipalsolidwastegeneratedintheUS.

Target’slatesttrade-inprogramisanotherindicationthatrecyclingisverymuchinfashion.The“everythingoldisnewagain”concepthasevenextendedtotherunway:atthisyear’sLondonFashionWeek,twodesignerspresentedclothesmadefromplasticbottlesandsustainablewoolaspartoftheircollections.


March 16, 2018

USRETAILEARNINGS

Company

Revenues(USDMil.)YoY%Change GrossMargin(%)

Change(bps)

NetIncome(USDMil.)

YoY%Change StoreFleetEOP

Period TY LY

TY LY

TY LY

TY LY

Abercrombie&Fitch 4Q17 1,193 1,036 15.1 58.4 59.3 (90) 97 51 90.2 868 898

AmericanEagleOutfitters 4Q18 1,229 1,097 12.0 34.6 35.4 (80) 79 72 10.5 1,261 1,226

BigLots 4Q17 1,642 1,579 4.0 41.5 41.4 20 109 102 7.1 1,416 1,432

BurlingtonStores 4Q17 1,944 1,692 14.9 42.2 42.0 25 150 122 22.3 629 592

CostcoWholesale 2Q18 32,995 29,766 10.8 12.9 12.9 2 701 515 36.1 749 727

DollarTree 4Q17 6,361 5,635 12.9 33.0 32.1 100 456 329 38.8 14,835 14,334

Kroger 4Q17 31,031 27,611 12.4 21.9 22.2 (30) 418 513 (18.5) 2,800 3,899

RossStores 4Q17 4,068 3,510 15.9 28.2 27.7 50 367 301 22.0 1,622 1,533

UrbanOutfitters 4Q18 1,089 1,030 5.7 31.3 33.0 (175) 75 68 10.8 613 606

Source:Companyreports/CoresightResearch

USRETAIL&TECHHEADLINES

InstacartExpandsKrogerPartnershipamidAmazonSqueeze(March12)Bloomberg.com• Krogerannouncedit’sexpandingatie-upwithInstacartinabidtohelpthetwocompanies

solvethesameproblem:Amazon.com.• InstacartlandedWholeFoodsMarketasitsfirstnationalpartnerin2014,bringingdelivery

servicetothegrocerychain’scustomers.ThenAmazonboughtWholeFoods,andinduecourse,announcedfreetwo-hourdeliveryfromsomestoresinTexas,VirginiaandOhio.ThenSanFrancisco,thenAtlanta….Ontheotherend,Amazon’spushintogroceryisleavingbrick-and-mortarsupermarketchainslikeKrogerscramblingtocompete.

Claire’sAccessoriesonBrinkofBankruptcyasDebtPilesUp(March12)RetailGazette.co.uk• US-basedaccessoriesretailerClaire’sisreportedlyonthevergeofcollapseasitpreparesto

fileforbankruptcy.AccordingtoBloomberg,theretailerissittingonaround$2billionworthofdebt,morethan10timesakeymeasureofitsannualearnings.

• Themovetofileforbankruptcycameaheadofa$60millioninterestpaymentdueonMarch13.Afurther$1.4billionofitsdebtissettomaturenextyear.Intheproposeddeal,controlofthecompanywouldbepassedfromApolloGlobalManagementtolenders.

BankruptBon-TonStoresRacestoFindLife-SavingDeal(March12)Reuters.com• BankruptregionaldepartmentstorechainBon-TonStores,underpressurefromagroupof

hedgefundstoliquidate,beganaraceonMondaytofindabuyertokeepopensomeofitsstores.USBankruptcyJudgeMaryWalrathapprovedsaleproceduresonMondayandanApril2deadlinetoacceptbidsforthechain.

• Bon-Tonhasnotyetreceivedanyinitialbids,alsocalledstalkinghorsebids,whichhelpstokeinterestandattractpotentialbuyerstoanauctionitintendstoholdonApril9.ThecompanyfacesapossibleliquidationjustasToys“R”Us,thelargestUStoyretailer,ispreparingtogooutofbusiness.

AlibabaFoundersInvest$20MillioninUSRetailer(March9)ChainStoreAge.com• BluePoolCapital,afinancialfirmthatprincipallyinveststhewealthofAlibabafoundersJack

MaandJoeTsai,hasinvested$20millioninwomen’sfashionrentalbusinessRenttheRunway,Recodereported.Thecompanywasfoundedin2009asanonlinesitewherewomencouldrentdesignerdressesforspecialoccasions.

• Ithassinceexpandeditsmerchandiseassortmenttoincludemorecasualandworkwearofferingsandhasalsoaddedbrick-and-mortarlocations.Withthenewfunds,RenttheRunwayisvaluedatalittlelessthan$800million,thereportsaid.


March 16, 2018

Toys“R”UsandWhytheRetailDownturnIsAllAboutDebt(March9)Marketplace.org• Toys“R”Uswasfoundedin1948inWashington,DC,asababyfurniturebusiness.Bythemid-

80s,itwasapubliccompanywithhundredsoftoystoresaroundtheworldandmorethanabilliondollarsinsales.Butsoon,thecompanystartedlosinggroundtodiscountchains.

• In2004,afteryearsofflatsalesandfallingprofits,theToys“R”Usboardofdirectorsputthecompanyupforsale.Thebuyerswereagroupofprivateequityfirms,investmentfirmsthatbundletogethermoneyfrominvestorstobuycompanies,fixthemupbycuttingcostsandincreasingsales,andthensellthemortakethempublictocashout.

EUROPERETAILEARNINGS

Company

Revenues(USDMil.)

ChangeinUSD(%)

ChangeinReportingCurrency

(%) GrossMargin(%)Change(bps)

NetIncome(USDMil.)

YoY%Change StoreFleetEOY

Period TY LY

TY LY

TY LY

TY LY

Adidas FYEDec31 23,977 20,453 17.2 14.8 50.4 49.2 120 1,243.1 1,128.7 10.1 2,588 2,811

Inditex FYEJan31 28,967 26,652 8.7 8.7 56.3 57.0 (70) 3,855.3 3,614.1 6.7 7,475 7,292

Morrisons FYEFeb4 22,488 21,805 3.1 5.8 3.7* 3.7* 0 405.2 407.6 (0.6) 491 491

*Morrisonsallocatessomeoperatingcosts,suchasstoredepreciation,storeoverheadcostsandstore-basedemployeecosts,tocostofsales,sotheseexpensesimpactgrossmargin.Source:Companyreports/CoresightResearch

EUROPERETAIL&TECHHEADLINESFrenchConnectionPostsRevenueGrowth,NarrowsLosses(March13)Companypressrelease• BritishretailerFrenchConnectionpostedgrouprevenuegrowthof0.5%,to£154.0million

($214.0million),inthefiscalyearendedJanuary31,2018.Inthepreviousyear,thegroup’srevenuesfellby6.7%.Retailcomparablesalesedgedup0.8%,whileunderlyingoperatinglossnarrowedto£0.6million($0.8million),animprovementof£3.1million($4.3million)overthepreviousyear.

• Thoughitisstillearlyintheyear,ChairmanandCEOStephenMarksbelievesthatthegroupis“inaverystrongpositiontomakesignificantprogressagain.”

PradaReportsDropin2017Revenues,ForecastsReturntoGrowthin2018(March9)Companypressrelease• LuxuryfashiongroupPradaposted2017netrevenuesof€3.1billion($3.8billion),adecline

of3.6%asreportedandof2%atconstantcurrency.Amonggeographies,Japan,theMiddleEastandtheUSrecordedsignificantdeclinesinsales.Ready-to-wearandleathergoodsperformedpositively,whilefootwearcontracted.

• CEOPatrizioBertellisaidthatthegrouphas“seenapromisingstartto2018”andthatmanagementis“expectingareturntogrowthin2018.”

AldiLookingtoEstablishPhysicalStoreNetworkinChina(March10)ESMMagazine.com• GermandiscountretailerAldiislookingtoestablishaphysicalstorenetworkinChina,nearly

ayearaftersettingupanonlinepresencethroughAlibaba-rune-commercesiteTmall.com.Throughthewebsite,AldicurrentlysellsarangeofGermanproducts,includingwine,snacksandbreakfastitems,sourcedfromAustralia.

• AldiisreportedlybuildingateamofmanagerswithEuropeanretailexperienceandhasplanstoopensome50storesinChinaoverthecomingfewyears.


March 16, 2018

HarveyNicholsCollaborateswithFarfetchinOnlinePush(March11)WWD.com• BritishdepartmentstoreHarveyNicholsande-commerceplatformFarfetchhavejoined

forcestoconsolidatetheirpresenceintheluxuryretailmarket.ThepartnershipwillhelpthedepartmentstorereachawidermarketandallowFarfetchtoincludetherenownedHarveyNicholsbrandinitsoffering.

• Thee-commercepartnershipspansseveralyearsandHarveyNicholswilllaunchonFarfetchduringthesecondhalfofthisyear.

• L’OréalUnveilsTechtoPersonalizeFoundationsandSerums(March12)Adweek.com• AtlifestylefestivalSXSW,L’Oréalunveiledtechnologythatpersonalizesfoundationsand

serumsforaperson’sskincolorandtexture.Thefoundationismadebydeterminingacustomer’sskincolorusingaspectrometer.Thereadingisenteredintoatabletthatinstructsamachinetocombineingredientsanddispensethepersonalizedfoundationintoabottle.

• Fortheserum,acustomerfirstconsultswithaprofessional.Datacollectedduringtheconsultationisenteredintoatabletconnectedtoa3Dprinter-likemachine,whichuses2,000algorithmstoanalyzethedata,mixingredientsintherightproportionsanddispensetheserumintoabottle.

ASIARETAIL&TECHHEADLINESSingapore’sGoldenGateRaising$100MillionVCFund(March11)Bloomberg.com

• Singapore’sGoldenGateVenturesisraisinga$100millionthirdfundtocontinueinvestinginSoutheastAsia’sburgeoningmarketfore-commerce,paymentsandmobileapps.Thenewfundisexpectedtohaveafirstclosebeforetheendofthismonthanditsfinalclosebytheendof2018.

• GoldenGateVentureswasoneoftheearliestventurecapitalfirmstotargetSoutheastAsia’snascenttechnologysector.Ithaslaunchedtwofundsandinvestedinmorethan30companiesacrosstheregion.TheyincludeonlineclassifiedappCarousell,Jakarta-basedhealthcareplatformAlodokterandAppota,aVietnamesemobileplatformwithmorethan30millionusers.

India’sOlaTakesItsUberRivalrytoAustraliawithLaunchinSydney(March13)TechCrunch.com

• Ola,Uber’skeyrivalinIndia,hastakenitsfirststepoverseasviaafulllaunchinSydney,Australia.ThecompanyannounceditsplanstoenterAustraliaattheendofJanuaryandsaidithassignedupmorethan7,000registereddriversinSydney.Initially,passengerswillbeabletoenjoyfreeridesforalimitedtime.Thecompanyplanstointroduceotherpromotionsinabidtokeepitsservicecompetitiveonceitbeginscharging.

• “WeareexcitedtoofficiallystartoperatingontheEastCoastwiththelaunchinSydney.We’vebeenverypleasedwithhowtheservicehasbeenreceivedbycustomers,driverpartnersandthecommunityinPerth,andcan’twaittocontinuebuildingontheseexperiencesandlearningsforoursecondcitylaunch,”saidChandraNath,HeadofInternationalforOla.

GrabLaunchesaBike-SharingServiceinSoutheastAsia(March9)TechCrunch.com

• SoutheastAsianUberrivalGrabhasjumpedintothebike-sharingspacebylaunchingaserviceinSingapore.GrabCycleBetawillofferservicesfromarangeofbusinesses,includingbike-sharingservicesoBike(inwhichGrabisaninvestor),GBikesandAnywheel,pluselectricscooterrentalservicePopScoot.

• TheprojectisthefirsttolaunchunderGrabVentures,Grab’snewinnovationarm,whichisfocusedonprojectsinverticalssuchaspaymentsandtransportation.TheprojecttiesintoGrab’spaymenteffortsbecauseGrabPayCredits,itsvirtualcurrency,areusedtopayforcyclerental.


March 16, 2018

India’sPrimeVenturePartnersClosesNew$60MillionFundforSeedInvestments(March8)TechCrunch.com

• India’sPrimeVenturePartnershasrefueleditstanksformoreangelinvestingafterannouncinganewfundofaround$60million.Thefirmwasstartedbythreemanagingpartners—serialentrepreneursSanjaySwamy,ShripatiAcharyaandAmitSomani—in2011.Thisfundrepresentsthethird(andlargest)investmentvehicleforthefirm.Itspreviousfund,of$46million,closedin2015,andthefirmhasmade19investmentstodate.

• ThefirmhasbackedEzetap,HackerEarthandZipDial(whichsoldtoTwitter)anditfocusesonjustfourtofivedealsperyear,accordingtoSomani.Withthisnewfund,PrimeVenturePartnersistargetingaround15dealswithatotalinvestmentsizeaveragingabout$4.5millionpercompany.

LATAMRETAIL&TECHHEADLINESIndraLaunchesDigitalTransformationUnitinBrazil(March12)ZDNet.com

• SpanishIToutsourcerIndrahaslauncheditsdigitaltransformationbusinessunit,Minsait,inBrazil.ThedivisionwillsupportBrazilianclientsinprojectsrelatedtotheInternetofThings,mobiletechnologies,bigdataandanalytics.

• Minsaitwaslaunchedin2016andalreadyoperatesinMexico,ItalyandSpain.AccordingtoIndra,thecompanywasalreadysupportinglocalclientsintheirinnovationinitiatives,butwantedtobesureofthebusinessgenerationcapacityofthemarketbeforelaunchingthedigitaltransformationunitinBrazil.

SãoPauloMayorSeeksBackingtoBuildLocal“SiliconValley”(March9)ZDNet.com

• SãoPauloMayorJoãoDoriaislookingforsupportfromtechnologygiantsforhisprojecttobuildalocalversionofSiliconValley.ProvisionallynamedInternationalCenterofTechnologyandInnovation(Citi),theinnovationcenterwouldincludeincubators,researchcentersanduniversitiesaswellasresidentialareasforentrepreneurs.

• Citiwouldbecreatedonthefringesofthesprawlingmetropolis,onasitewhereSãoPaulo’smainproducewholesalemarketiscurrentlylocated.AccordingtotheMayor’sOffice,companiesincludingGoogle,Facebook,Microsoft,IBMandCiscohavebeenapproachedtoprovidesupportfortheproject,intendedtobethelargesttechnologyinnovationclusterinLatinAmerica.

CarrefourBrasilPlanstoExpand;ConsidersPurchasesandPartnerships(March13)Reuters.com

• CarrefourBrasilplanstoaggressivelyexpanditsstorenetwork,andwillconsideracquisitionsandpartnershipsaspartofthatdrive.Thecompanyplanstoopen20wholesalestoresin2018,10CarrefourMarketstores,and20CarrefourExpressconveniencestores.Italsoplanstoconvertfivetosevenhypermarketsintowholesalestoresthisyearandhasthepotentialtoopenatotalof120–140newstoresby2022.

• Theexpansionplans,particularlyinthewholesaleAtacadãoformat,reflectthecompany’sambitionstogainandconsolidatemarketshareasBrazil’sfoodretailmarketturnsacornerafterayears-longrecessioninthecountry.

AmazonMayFinallyBringItsFullRetailBusinesstoBrazil(March8)Engadget.com

• In2017,AmazonBrazilstartedallowingthird-partysellerstolisttheiritemsonthewebsite,butthatcouldhavebeenjustthebeginningofthee-commercetitan’sexpansioninthebiggestretailmarketinLatinAmerica.AccordingtoReuters,thecompanyheldameetingwithmanufacturersinBrazillastweektodiscussitsplanstostockandsellgoodsitselfinthecountry.


March 16, 2018

• IthasalsobeenreportedthatAmazonwilluseitsowntransportationandcallcentersinBrazilforcustomerserviceandthatitwillstoreitsgoodsinitsownfacilitiesinGreaterSãoPaulo.AmazontoldReutersthatithasbeenholding“hundredsofmeetingswithpotentialvendorsandsuppliersaboutitsbusinessinBrazilandpossiblefutureplans”overthepastfiveyears.

MACROUPDATEKeypointsfromglobalmacroindicatorsreleasedMarch7–14,2018:1) US:Nonfarmpayrollsincreasedby313,000inFebruary,abiggainoverJanuary’sfigureandsignalinga

healthylabormarket.Averagehourlyearningsincreasedby2.6%yearoveryear,downfrom2.8%inthepreviousperiod,indicatinganeasingofinflationarypressure.

2) Europe:IntheUK,housepricesincreasedby0.4%monthovermonthinFebruary,inlinewiththeconsensusestimate.UKindustrialproductioninJanuaryincreasedbylessthananalystshadexpected,growingby1.6%yearoveryear.

3) Asia-Pacific:InSingapore,retailsalesdroppedby8.4%yearoveryearinJanuary,missingtheconsensusestimateofa2.2%increase.ForeignreservesinSingaporeedgedupto$282.8billioninFebruary.InChina,foreignreservesdecreasedto$3,134.5billioninFebruary.

4) LatinAmerica:InBrazil,inflationedgeddownto2.8%yearoveryearinFebruary,inlinewiththemarket’sexpectation.InMexico,theConsumerPriceIndex(CPI)increasedby5.3%yearoveryearinFebruary,slightlybelowtheincreaseseeninJanuary.

*CoresightResearch’sevaluationoftheactualfigure’simpactontheeconomyrelativetohistoricalbenchmarksandthecurrentmacroeconomicenvironment:+indicatesapositivesignalforthecountry’seconomy,–indicatesanegativesignaland=indicatesanegligibleormixedimpact.Source:USBureauofLaborStatistics/Markit/Halifax/UKOfficeforNationalStatistics/SingaporeDepartmentofStatistics/MonetaryAuthorityofSingapore/ThePeople’sBankofChina/InstitutoBrasileirodeGeografiaeEstatística/InstitutoNacionaldeEstadísticayGeografía/CoresightResearch

Country/Region Indicator Period Actual Survey Prior

ImpactonEconomy*

US ChangeinNonfarmPayrolls(Thous.) Feb 313 205 239 +

US ChangeinPrivatePayrolls(Thous.) Feb 287 205 238 +

US AverageHourlyEarnings(MoM) Feb 0.1% 0.2% 0.3% +

US AverageHourlyEarnings(YoY) Feb 2.6% 2.8% 2.8% +

US LaborForceParticipationRate Feb 63.0% 62.7% 62.7% +

UK HalifaxHousePriceIndex(MoM) Feb 0.4% 0.4% (0.5)% +

UK HalifaxHousePriceIndex(3Mos./Year) Feb 1.8% 1.6% 2.2% +

UK IndustrialProduction(MoM) Jan 1.3% 1.5% (1.3)% =

UK IndustrialProduction(YoY) Jan 1.6% 1.9% 0.0% =

SG RetailSales(SA,MoM) Jan (5.4)% (0.9)% 0.6% –

SG RetailSales(YoY) Jan (8.4)% 2.2% 6.3% –

SG RetailSalesexAutos(YoY) Jan (8.1)% 2.0% 2.6% –

SG ForeignReserves(USDBil.) Feb 282.8 – 282.4 =

CN ForeignReserves(USDBil.) Feb 3,134.5 3,160.0 3,161.5 =

BZ IBGEInflationIPCA(MoM) Feb 0.3% 0.3% 0.3% +

BZ IBGEInflationIPCA(YoY) Feb 2.8% 2.8% 2.9% +

MX CPI(YoY) Feb 5.3% 5.4% 5.6% =


March 16, 2018

EARNINGSCALENDAR

Sales(Mil.) EPS

Company

EarningsReleasePeriod Date

ConsensusTY LYActual

ConsensusTY LYActual Currency

Tiffany&Co.(TIF) 4Q17 Mar16 1,312 1,230 1.63 1.45 USD

Tencent(700.HK) FY17 Mar21 238,901 151,938 6.90 4.08 CNY

Guess(GES) 4Q18 Mar21 756 679 0.54 0.41 USD

FiveBelow(FIVE) 4Q17 Mar21 502 388 1.17 0.90 USD

Kingfisher(KGF.L) FY17 Mar21 11,656 11,225 0.23 0.26 GBP

PVHCorp.(PVH) 4Q17 Mar21(E) 2,347 2,108 1.46 1.06 USD

Nike(NKE) 3Q18 Mar22 8,843 8,432 0.53 0.68 USD

Sears(SHLD) 4Q17 Mar22(E) 3,784 6,052 (1.07) (1.31) USD

Next(NXT.L) FY17 Mar23 4,117 4,097 4.11 4.37 GBP

FinishLine(FINL) 4Q18 Mar23(E) 577 558 0.57 0.50 USD

G-IIIApparelGroup(GIII) 4Q18 Mar26(E) 708 603 0.17 (0.13) USD

H&M(HM-B.ST) 1Q18 Mar27 46,946 46,985 0.82 1.48 SEK

RestorationHardware(RH) 4Q17 Mar27(E) 673 587 1.56 0.59 USD

Hudson’sBayCompany(HBC.TO) 4Q17 Mar28 4,592 4,600 0.40 (0.07) CAD

WalgreensBootsAlliance(WBA) 2Q18 Mar28 32,193 29,446 1.54 1.23 USD

LululemonAthletica(LULU) 4Q17 Mar28(E) 908 790 1.27 1.00 USD

ASOS(ASC.L) 1H18 Apr11 1,164 912 0.41 0.26 GBP

Tesco(TSCO.L) FY18 Apr11 57,373 55,917 0.11 0.04 GBP

AssociatedBritishFoods(ABF.L) 1H18 Apr17 7,570 7,296 0.63 0.55 GBP


March 16, 2018

EVENTCALENDAR

Event Location Date(s)

CoresightResearch

Presenting/Attending

SPECSShow2018:TheForefrontofPhysicalRetail Dallas,TX Mar18–20

Shoptalk2018 LasVegas,NV Mar18–21 √

DigitalFashion&LuxuryMasterclass London,UK Mar20

IsraelDealmakersSummit2018 RedwoodCity,CA Mar20–21

WWDMen’sWearSummit NewYork,NY Mar27

RISE LosAngeles,CA Apr6–7

PIApparel HongKong Apr10–11

WorldRetailCongress Madrid,Spain Apr17–19 √

GlobalRetailingConference Tucson,AZ Apr19–20

FEI Boston,MA Apr23–26

WWDRetail20/20Forum London,UK Apr24

RetailRobotics&AIConference SanFrancisco,CA Apr26 √

Collision NewOrleans,LA Apr30–May3

RetailDesignExpo London,UK May2–3

RetailBusinessTechnologyExpo London,UK May2–3

Planalytics2018Q1ReviewwithCoresightResearch Webinar May3 √

VRLA2018 LosAngeles,CA May4–5

InnovationEnterpriseChiefStrategyOfficerSummit SanFrancisco,CA May7–8

BrandInnovatorsFutureofConsumerExperience&Retail Dallas,TX May10

D3RetailSupplyChainSummit NewYork,NY May10–11

DigiMarConEast2018 NewYork,NY May10–11

2018WWDBeautyCEOSummit PalmBeach,FL May14–16

EventforIn-StoreExperienceInnovators London,UK May16–17

ICSCRECon:TheGlobalRetailRealEstateConvention LasVegas,NV May20–23 √

3rdAnnualVRWorld London,UK May22–23

RetailCouncilofCanada:Store2018 Toronto,ON,Canada May29–30

PIApparel NewYork,NY Jun22–23

CosmoprofNorthAmerica LasVegas,NV Jul29–31 √

Mercedes-BenzFashionWeek NewYork,NY Sep6–12

BigDataInnovationSummit Boston,MA Sep11–12

Inforum Washington,DC Sep24–27


March 16, 2018

DeborahWeinswig,CPACEOandFounderCoresightResearchNewYork:917.655.6790HongKong:852.6119.1779China:[email protected]

JohnMercerSeniorAnalyst

JohnHarmon,CFASeniorAnalyst

StevenWinnickResearchAssociate

CharliePoonResearchAssociate

HongKong:2ndFloor,HongKongSpinnersIndustrialBuildingPhase1&2800CheungShaWanRoad,KowloonHongKongLondon:242-246MaryleboneRoadLondon,NW16JQUnitedKingdomNewYork:1359Broadway,18thFloorNewYork,NY10018

Coresight.com

Documents

Weinswigs Weekly March 16 2018 - fungglobalretailtech.com · presence through Alibaba-run e-commerce site Tmall.com. 4)In 2017 ... , Kenneth Cole, Levi’s, M&S and Timberland. The