TRANSCRIPT:
Smartsheet Inc. (SMAR), Q3 2019, Dec. 03, 2018
Call Time:
12/3/2018, 4:30pm
Transcript Analysis Time :
12/3/2018, 7:17pm

Expansion within our base during the quarter included 34 companies increasing their annual recurring revenue by more than $50,000. We now have 360 customers with ARR over $50,000 and 127 with ARR over $100,000. Notable expansions occurred this quarter at customers such as Roche Diagnostics, Fox and Steelcase. Our customers are expanding faster with us at a rate never seen before as the product enhancements we've made over the past year enable Smartsheet to address increasingly high-value workloads throughout our customers' organizations.

For many of our largest and fastest-growing customers, their use of Smartsheet has evolved from being a valuable tool for collaboration and work tracking by individuals and teams to also serving as a mission-critical work execution platform that drives operationally important processes across their business. This evolution coincides with recognition by analysts and the broader market that our category collaborative work management, CWM, is no longer an emerging segment composed of nice-to-have technologies but is essential for the survival and competitiveness of digital businesses. In other words, all businesses.

Success With the Base and Moving Up-Market

Expansion within our base during the quarter included 34 companies increasing their annual recurring revenue by more than $50,000. We now have 360 customers with ARR over $50,000 and 127 with ARR over $100,000. Notable expansions occurred this quarter at customers such as Roche Diagnostics, Fox and Steelcase. Our customers are expanding faster with us at a rate never seen before as the product enhancements we've made over the past year enable Smartsheet to address increasingly high-value workloads throughout our customers' organizations.

For many of our largest and fastest-growing customers, their use of Smartsheet has evolved from being a valuable tool for collaboration and work tracking by individuals and teams to also serving as a mission-critical work execution platform that drives operationally important processes across their business. This evolution coincides with recognition by analysts and the broader market that our category collaborative work management, CWM, is no longer an emerging segment composed of nice-to-have technologies but is essential for the survival and competitiveness of digital businesses. In other words, all businesses.

Smartsheet Inc.
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SMAR
Smartsheet Inc.
Edited Copy
Smartsheet Inc. (SMAR), Q3 2019, Dec. 03, 2018
Smartsheet Inc. (SMAR), Q3 2019, Dec. 03, 2018
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TRANSCRIPT:
Michale Kors Holdings Limited (KORS), Q2 2019, Nov. 07, 2018
Call Time:
11/7/2018, 8:30am
Transcript Analysis Time :
11/11/2018, 1:22pm

Now I would like to provide some regional highlights for the Michael Kors brand during the quarter. In the Americas, revenue increased in the low single digits. Americas retail revenue increased in the low single digits as well. Comparable store sales experienced a modest decline in the quarter. This was primarily driven by low double-digit declines in inventory levels and higher markdowns on certain seasonal fashion products. Our signature logo design sold well and resonated with consumers, but our inventory levels were lower than needed to meet consumer demand. Looking forward, we're working diligently to increase inventory in our logo offerings.

Wholesale revenue in the Americas increased mid-single digits. Footwear sales were particularly strong in the quarter, while accessories and women's ready-to-wear performed better than expected. Fashion active and updated logo details outperformed in all product categories. In Europe, our sales declined double digits for the quarter, in line with our plans to decrease inventory and drive higher full-price sell-through. Europe retail comparable store sales declined in the mid-single digits, which was better than expected. Wholesale revenues in Europe declined double digits in the quarter.

KORS Impacted by Channel Management Issues

Now I would like to provide some regional highlights for the Michael Kors brand during the quarter. In the Americas, revenue increased in the low single digits. Americas retail revenue increased in the low single digits as well. Comparable store sales experienced a modest decline in the quarter. This was primarily driven by low double-digit declines in inventory levels and higher markdowns on certain seasonal fashion products. Our signature logo design sold well and resonated with consumers, but our inventory levels were lower than needed to meet consumer demand. Looking forward, we're working diligently to increase inventory in our logo offerings.

Wholesale revenue in the Americas increased mid-single digits. Footwear sales were particularly strong in the quarter, while accessories and women's ready-to-wear performed better than expected. Fashion active and updated logo details outperformed in all product categories. In Europe, our sales declined double digits for the quarter, in line with our plans to decrease inventory and drive higher full-price sell-through. Europe retail comparable store sales declined in the mid-single digits, which was better than expected. Wholesale revenues in Europe declined double digits in the quarter.

Michael Kors Holdings Limited
Financial
Market Position
Portfolio
KORS
Michael Kors Holdings Limited
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Michale Kors Holdings Limited (KORS), Q2 2019, Nov. 07, 2018
Michale Kors Holdings Limited (KORS), Q2 2019, Nov. 07, 2018
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Chico's FAS, Inc. (CHS), Q3 2019, Nov 28, 2018
Call Time:
11/28/2018, 8:30am
Transcript Analysis Time :
11/28/2018, 11:07am

We had substantially positive merchandise margin, up 130 basis points but ended gross margin down that 80 basis points. Most of that decline is really driven shipping costs and other costs related to the omni-channel programs. So the shipping costs have been significant. And that has been, as we’ve gotten going on the program, we are already in the process of optimizing how we’re doing those shipments so that it -- the impact declines as we go forward, ratably.

The good news for us really is also how we're aligning the buy online, ship from store to make sure we are getting the most in sales out of it. That's been -- one of our key parts of our initiatives this year is how we do drive sales through these omnichannel programs. And without a doubt, we are exceeding what we had planned for this year, so that's a very positive sign for us as we go into next year and know that we have time where we're still going to be wrapping around on that for the first couple quarters.

Supply Chain Pressures Impacted Holiday Sales

We had substantially positive merchandise margin, up 130 basis points but ended gross margin down that 80 basis points. Most of that decline is really driven shipping costs and other costs related to the omni-channel programs. So the shipping costs have been significant. And that has been, as we’ve gotten going on the program, we are already in the process of optimizing how we’re doing those shipments so that it -- the impact declines as we go forward, ratably.

The good news for us really is also how we're aligning the buy online, ship from store to make sure we are getting the most in sales out of it. That's been -- one of our key parts of our initiatives this year is how we do drive sales through these omnichannel programs. And without a doubt, we are exceeding what we had planned for this year, so that's a very positive sign for us as we go into next year and know that we have time where we're still going to be wrapping around on that for the first couple quarters.

Chico's FAS, Inc
Financial
Market Position
Portfolio
CHS
Chico's FAS, Inc
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Chico's FAS, Inc. (CHS), Q3 2019, Nov 28, 2018
Chico's FAS, Inc. (CHS), Q3 2019, Nov 28, 2018
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