Please note NEW DATE/TIME for our Deep Dive on Department Store Fundamentals and Stocks. Our call will be next Thursday, October 16th at 11:00 am ET. Relevant tickers: JCP, M, KSS, DDS, JWN, SHLD, TGT, WMT, TJX, and GPS.
Key Topics Will Include:
1. What will the Department Store Landscape look like (physically and financially) when we transition into the next economic cycle?
2. Detailed Revenue analysis for all the Department Stores – by category, consumer, and demographic. Who has the most risk/upside based on where we are in the economic cycle?
3. Margin Sustainability: Who has the most defendable margins and levers to pull in the event of a sales downturn?
4. The importance of Financial Engineering to earnings algorithms.
5. Current Business Trends: Results from our detailed 1,000 consumer survey. This is the 4th iteration of the survey that we started back in 3Q of 2013
- Visitation statistics
- Dot.com and Mobile trends
- Buy Online/Pick Up in Store – does anyone really use this? Which retailers have the competitive advantage?
- Detailed category analysis – what retailers are top of mind in each category
- Who wins on price, sales, selection, and quality
6. Real Estate Deep Dive
- What does the competitive matrix look like across the space
- Winners & losers from a demographic and spending vantage point
- Are department stores over or under-indexed to their target customer?
- The JCP and SHLD affect – what do more store closures mean for other names in this space
7. E-commerce – we’ll be releasing a much more in depth look at e-commerce across the retail space in a Black Book due out in the next couple of weeks – but we will preview that work with a focused look on the department store space. Most importantly which retailers have invested the capital needed to drive growth in this channel.
Call details to follow