Consumer

Title Date
PM – Raising low-end of F20 EPS guidance ahead of BarCap Conf. driven by stronger Q3 (though notes an inventory timing benefit in Q3 that will reverse in Q4) while duty free recovery & Indonesia min retail price enforcement now seen in Q4 (vs. prev. Q3) & tax rate at low-end of prior range 2020-09-10
ARMK – GS Retail Conf. Comments 2020-09-10
JR's Consumer Daily – 9.10.20 2020-09-10
WMT/TikTok - Update on Sale Process from Bloomberg 2020-09-10
India/AMZN/WMT's Flipkart - AMZN in negotiations w/Reliance Industries M. Ambani to purchase a stake in Reliance Retail Ventures (RR is the largest retail business in India)that could be up to 40% for ~$20B, according to Bloomberg sources 2020-09-10
REAL – Keybanc Conf. Presentation Comments 2020-09-09
BLMN - Jana lowers stake to 5.72M/6.5% (from 7.35M/8.4% on 7/2) via sale of 1.63M shrs over 9/1-9/8 at $15.76-17.12. SEC 2020-09-09
TIF/LVMH - Arnault asked French gov't for help w/pulling out of TIF bid, 1st going to the Finance Ministry which rejected him & then the Foreign Ministry, according to Bloomberg sources familiar w/govt's thinking 2020-09-09
FL - "One of our minority investments, which is measured using the fair value measurement alternative, received add’l funding in Aug. at a higher valuation than our initial investment. This transaction is expected to generate a signif non-cash gain during Q3." 10Q 2020-09-09
ENR - Raising FQ4 Revs guide on strong NA battery & auto care while reit EBITDA/EPS on higher COVID exp 2020-09-09
RH - Q beats on EPS driven by margins & Topline; QTD (Aug/Sept.) Revs accelerate relative to Q2; Revs lagged Demand ~16% in Q2 (vs. 10-12% guide) & expected to lag by 5-10% in Q3 & normalize in Q4; Raising LT OpMargin target (low/mid-20% vs. prev. high-teens/low-20%s) 2020-09-09
NWL - BarCap Conf. Presentation QTD Trends Comments 2020-09-09
WMT – shrs dip off intraday highs after WSJ article says that ByteDance & US gov’t are discussing ways to avoid a sale of TikTok’s US operations (instead potentially just restructuring Ops in a way that safeguards US data from the Chinese gov’t) 2020-09-09
Consumer - Academy Sports + Outdoors (ASO) files for an IPO, ThirdLove update from TheInformation, JCP bankruptcy exit agreement details from WSJ 2020-09-09
GIS – BarCap Conf. Call Comments. Shipments vs. Consumption & Retailer Inventory Levels 2020-09-09
Consumer – Afternoon News Headlines: KSS, Petco, JCP, NYC Restaurants, Stimulus, Tobacco/eCigs 2020-09-09
KMB – BarCap Conf. Presentation Comments 2020-09-09
TIF/LVMH - TIF rallying back on Reuters article citing French gov't sources (which appears in direct conflict w/LVMH CFO's commentary on CC earlier) 2020-09-09
STZ – BarCap Conf. Presentation Comments 2020-09-09
STZ, CRI & LOW - QTD Trends Commentary At BarCap/GS Confs. 2020-09-09

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