Net Lease Research Report 2016 Q1 | The Boulder GroupThe Boulder Group
The Boulder Group’s Research Department has released a new research report providing comprehensive numbers and analysis of the 1st quarter activity in the National Net Lease Market.
The Boulder Group’s Research Department has released a new research report providing comprehensive numbers and analysis of the activity in the National Net Lease Casual Dining Market.
The Boulder Group’s Research Department has released a new research report providing comprehensive numbers and analysis of the activity in the National Net Lease Big Box Market.
Net Lease Research Report Q4 2015 | The Boulder GroupThe Boulder Group
The Boulder Group’s Research Department has released a new research report providing comprehensive numbers and analysis of the 4th quarter activity in the National Net Lease Market.
Oregon State Economist's presentation to the Oregon Liquor Control Commission on demand for alcohol, employment in the broader industry and Washington's experience post-privatization. Examining trends by age, income, occupation, and city size.
Our Stock Pitch For Mailing Shipping Services PowerPoint Presentation PPT Slide Template is the perfect way to pitch your stock. We have researched thousands of stock pitches and designed the most impactful way to convince your investors to invest in your equity. https://bit.ly/3eZUTut
Net Lease Research Report 2016 Q1 | The Boulder GroupThe Boulder Group
The Boulder Group’s Research Department has released a new research report providing comprehensive numbers and analysis of the 1st quarter activity in the National Net Lease Market.
The Boulder Group’s Research Department has released a new research report providing comprehensive numbers and analysis of the activity in the National Net Lease Casual Dining Market.
The Boulder Group’s Research Department has released a new research report providing comprehensive numbers and analysis of the activity in the National Net Lease Big Box Market.
Net Lease Research Report Q4 2015 | The Boulder GroupThe Boulder Group
The Boulder Group’s Research Department has released a new research report providing comprehensive numbers and analysis of the 4th quarter activity in the National Net Lease Market.
Oregon State Economist's presentation to the Oregon Liquor Control Commission on demand for alcohol, employment in the broader industry and Washington's experience post-privatization. Examining trends by age, income, occupation, and city size.
Our Stock Pitch For Mailing Shipping Services PowerPoint Presentation PPT Slide Template is the perfect way to pitch your stock. We have researched thousands of stock pitches and designed the most impactful way to convince your investors to invest in your equity. https://bit.ly/3eZUTut
Net Lease Market Research Report Published by The Boulder Group The Boulder Group
The Boulder Group’s Research Department has released a new research report providing comprehensive numbers and analysis of the 4th quarter activity in the National Net Lease Market
Last year, we shared insights into the top 20% of wineries who’ve mastered the art of selling wine online. Since then, some newcomers have joined the ranks. We’ll check in with wineries that are winning at DTC by digging into WineDirect/Vin65 proprietary data representing over $1B in wine transactions across 1,200 wineries. And….we’ll expose the secrets of wineries that have made the biggest gains year-over-year.
net lease research report q1 2018 | The Boulder GroupThe Boulder Group
The Boulder Group’s Research Department has released a new research report providing comprehensive numbers and analysis of the 1st quarter activity in the National Net Lease Market.
Cox Automotive Market Overview - February 2018 Philip Nothard
A high-level helicopter view of the current ‘state of the market’ from across the Cox Automotive UK business - identifying industry trends and key messages. To support internal client conversations and engagement, whilst increasing our reputation in the network as a leading insight and thought-leadership company.
A key report by Rob McMillan from SVB about the wine industry where he surveyed 598 wineries from their portfolio.
For more information about the report -
Email: Rob McMillan
Twitter: @svbwine
RMcMillan@svb.com
707-967-1367
If you tweet about this report, please use #SVB
Chris Kneeland - Start Making Impressions Instead of Buying ThemINBOUND
Advertising isn’t dead, but it is woefully overfunded. Businesses are failing faster than ever before, and customer engagement metrics are tanking at alarming rates. Obviously an ad-centric remedy for ailing brands isn’t working. A new prescription is required, and we can look to the most iconic, cult-like brands on the planet to learn six things they're doing better then their mediocre peers.
Cox Automotive Market Overview - March 2018Philip Nothard
A high-level helicopter view of the current ‘state of the market’ from across the Cox Automotive UK business - identifying industry trends and key messages.
Working with a major retailer (Walgreen's) and major manufacturer (Constellation Wines) within the consumer packaged goods industry to develop a complete category management review in a team of three. Utilizing Nielsen Category Management suite of tools including the Nielsen Answers Retail Edition, and space management software to support our review.
Net Lease Market Research Report Published by The Boulder Group The Boulder Group
The Boulder Group’s Research Department has released a new research report providing comprehensive numbers and analysis of the 4th quarter activity in the National Net Lease Market
Last year, we shared insights into the top 20% of wineries who’ve mastered the art of selling wine online. Since then, some newcomers have joined the ranks. We’ll check in with wineries that are winning at DTC by digging into WineDirect/Vin65 proprietary data representing over $1B in wine transactions across 1,200 wineries. And….we’ll expose the secrets of wineries that have made the biggest gains year-over-year.
net lease research report q1 2018 | The Boulder GroupThe Boulder Group
The Boulder Group’s Research Department has released a new research report providing comprehensive numbers and analysis of the 1st quarter activity in the National Net Lease Market.
Cox Automotive Market Overview - February 2018 Philip Nothard
A high-level helicopter view of the current ‘state of the market’ from across the Cox Automotive UK business - identifying industry trends and key messages. To support internal client conversations and engagement, whilst increasing our reputation in the network as a leading insight and thought-leadership company.
A key report by Rob McMillan from SVB about the wine industry where he surveyed 598 wineries from their portfolio.
For more information about the report -
Email: Rob McMillan
Twitter: @svbwine
RMcMillan@svb.com
707-967-1367
If you tweet about this report, please use #SVB
Chris Kneeland - Start Making Impressions Instead of Buying ThemINBOUND
Advertising isn’t dead, but it is woefully overfunded. Businesses are failing faster than ever before, and customer engagement metrics are tanking at alarming rates. Obviously an ad-centric remedy for ailing brands isn’t working. A new prescription is required, and we can look to the most iconic, cult-like brands on the planet to learn six things they're doing better then their mediocre peers.
Cox Automotive Market Overview - March 2018Philip Nothard
A high-level helicopter view of the current ‘state of the market’ from across the Cox Automotive UK business - identifying industry trends and key messages.
Working with a major retailer (Walgreen's) and major manufacturer (Constellation Wines) within the consumer packaged goods industry to develop a complete category management review in a team of three. Utilizing Nielsen Category Management suite of tools including the Nielsen Answers Retail Edition, and space management software to support our review.
Calcbench takes all 3rd Quarter filings and does a year over year comparison of 11 commonly used metrics. Only industrial firms are analyzed (i.e. Financial firms are excluded)
Mercer Capital's Value Focus: Convenience Store Industry | Q1 2016 | Segment:...Mercer Capital
Mercer Capital’s Convenience Store Industry newsletter is a quarterly publication providing perspective on valuation issues pertinent to multi-unit retailing and QSR industries.
Mercer Capital's Value Focus: Convenience Store Industry | Q1 2017 | Segment:...Mercer Capital
Mercer Capital’s Convenience Store Industry newsletter is a quarterly publication providing perspective on valuation issues pertinent to multi-unit retailing and QSR industries.
The Finance Perspective: The Business Model for the Subscription EconomyZuora, Inc.
Learn best practices for subscription financial management, with a focus on the ‘Three Metrics That Matter’, the new income statement for the Subscription Economy and how to apply it to your business. Learn best practices for subscription financial management, with a focus on the ‘Three Metrics That Matter’, the new income statement for the Subscription Economy and how to apply it to your business.
Mercer Capital's Value Focus: Convenience Store Industry | Q4 2015 | Segment:...Mercer Capital
Mercer Capital’s Convenience Store Industry newsletter is a quarterly publication providing perspective on valuation issues pertinent to multi-unit retailing and QSR industries.
#COVID19's #Digitization of the #Economy and How C19 Winners Lap the Period. #eCommerce forecasts for '20 - '23 and how those influence digital advertising growth.
Amzn q2 20 learnings and the outlook for its business, retail, and our economythomas paulson
Attached is my latest on why #AMZN will double again over the next few years and what the #Amazon Q2 results suggest about the #retail industry, the #RetailApocalypse, our #economy, and our society.
Observations from Q1 Retailer Earnings and C19 Durable Changesthomas paulson
We studied the earnings results from the 20 largest US retailers that have reported their Q1'20/C-19 period business results. From this we have distilled out what we believe to be the durable changes in consumer behavior and the retail industry.
1. TJX Marmax ROST BURL KSS
Q2 Sales Ch -32% -40% -33% -39% -23%
Q2 Re-Open Comp -3% -6% -12% -14% -25%
Q3 Sales Comp Consenus -13% -13% -13% -14% -12%
YTD CY2020 EBITDA Est. Ch -13% -14% -8% -24%
YTD Inventory Ch -23% -39% -22% -24%
YTD CFO Ch
1H'19 $899 $1,083 $229 $2,107
1H'20 $176 $172 -$473 $1,657
Delta -$723 -$911 -$702 -$450
YTD Net Debt Ch $554 -$594 $485 -$115
YTD Debt Raised $3,959 $1,849 $1,160 $1,594
Debt Raised / Starting Assets 16% 20% 21% 11%
Off-Price during Q2 1. The table below shows that the off-price retailers experienced similar sales declines. KSS is shown as a
benchmark and it benefited from online sales which is absent from off-price. Marmax had a stronger re-
opening comp due to favorable geographic, income-cohort, and category mix, and likely more leverage
over vendors to get the brands that counted. All lost sales in June / July due to insufficient inventory.
2. Inventory, all companies spoke to having DC labor shortage issues and difficulty in getting orders filed
from the vendors. Moreover, certain hot categories were scare. ROST faltered the worst in this area as
evidenced in their YTD decline and the further evidence is that they burnt deep into pack-away inventory.
3. Cash, KSS did the best in generating cash YTD; whereas, ROST and BURL were less effective. A/P
significantly declined at both, no doubt an effort to incent vendors to deliver the goods.
4. What's the future of retail, click HERE.
All rights reserved, Inflection Capital Management, LLC
2. 25%*** 75%
Retailer** Market Captured Captured
NAICS Retail Sales* - 2019 Off-Price*** Supply Share by by
Code $millions Category Addressible Destruction Disrupted Digital Stores
442 Furniture and home furnishingsstores $117,815 $29,454 15% $4,418 $1,105 $3,314
448 Clothingand clothingaccess.stores $266,903 $106,761 20% $21,352 $5,338 $16,014
4521 Department stores $135,026 $54,010 20% $10,802 $2,701 $8,102
Totals $190,225 $36,572 $9,143 $27,429
ROST (2019) $16,039
Share 8%
Eliminated $36,572
Remainder of SurvingStore Sales $137,614 (Total - ROST - Eliminated)
Share 72%
ROST + Remainder Share 81%
ROST Adj Share (post COVID) 10% (simply 8% / 81%)
Share Post COVID 10%
Addressibly Market (stores) $181,082 ($190,225 - $9,143)
ROST $of Share post-COVID $18,902
Notes:
* Census Bureau MRTSreport
** Based upon our analysis of announced closings and Census data.
*** Questimates
2
ROST: Sales Outlook
All rights reserved, Inflection Capital Management, LLC
We and other investors own ROST because we expect it to survive to the other side of the COVID-valley and
then thrive. Based upon the merits of ROST's offering to the consumer, the durability of its business model,
and the reliability of management's execution, we expect ROST to at least retain is pro-forma market share
from pre-COVID, which we quantify as 8%. Based upon our analysis of the current retail industry, we forecast
that the retailers the NAICS codes 442, 448, & 4521 will loose 15-20% of their share due to store closures and
unsatisfactory customer service. We questimate that: 1) only a portion of these retailers' sales are
addressable by off-price retailers and that 2) of the share loss, remaining traditional retailers capture 75% of
that lost share, while digital retailers (Amazon, Shopify sellers, ThreadUP, Revolve, and other digital natives)
capture 25%.