TRANSCRIPT:
Merck & Co. Inc. (MRK), Q3 2018, Oct. 25, 2018
Call Time:
10/25/2018, 8:00am
Transcript Analysis Time :
11/11/2018, 1:00pm

But as it relates to being more specific and putting numbers around that and time periods at this time, we don't know that that's the right thing for us to do. We will continue to give guidance in the way that we normally do it on an annual basis. But I don't really think it makes sense for us today as we're seeing this business grow and expand for us to try to say a specific number in terms of what the margin expansion will be.

What i can tell you is that we will continue to work very hard to drive that margin expansion at the same time, making the right kinds of investments that we need to make to drive our growth over the next few years.

So on business development. Let me start by saying we're pleased with the way in which our business is growing now, particularly in the Oncology field. But that doesn't make us comfortable. At the end of the day, we know that we have to continue to build our portfolio and build on our pipeline.

Evasive Commentary Puts Margin in Doubt

But as it relates to being more specific and putting numbers around that and time periods at this time, we don't know that that's the right thing for us to do. We will continue to give guidance in the way that we normally do it on an annual basis. But I don't really think it makes sense for us today as we're seeing this business grow and expand for us to try to say a specific number in terms of what the margin expansion will be.

What i can tell you is that we will continue to work very hard to drive that margin expansion at the same time, making the right kinds of investments that we need to make to drive our growth over the next few years.

So on business development. Let me start by saying we're pleased with the way in which our business is growing now, particularly in the Oncology field. But that doesn't make us comfortable. At the end of the day, we know that we have to continue to build our portfolio and build on our pipeline.

Merck & Co. Inc.
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MRK
Merck & Co. Inc.
Edited Copy
Merck & Co. Inc. (MRK), Q3 2018, Oct. 25, 2018
Merck & Co. Inc. (MRK), Q3 2018, Oct. 25, 2018
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TRANSCRIPT:
FedEx Corporation (FDX), Q2 2019, Dec. 18, 2018
Call Time:
12/18/2018, 5:30pm
Transcript Analysis Time :
12/19/2018, 1:13am

My comments are focused on FedEx Express today, where trends worsened in the second quarter, primarily due to international revenue challenges, driven, of course, by international economic weakness. While international revenue was still growing, it is not going at the rate we expected because of the overall global economic uncertainty that Raj just mentioned. Some of the largest economies in Europe are experiencing weakness.

That is impacting our international business. Germany, for example, saw their GDP contract quarter-over-quarter in the third calendar quarter. Italy remains a drag on overall Eurozone growth. The unrest in France, and I was there two weeks ago, continues to escalate and spread with yellow vest protest now inspiring similar actions in Belgium, The Netherlands, Germany, and of course, throughout all of France. Also, the uncertainty of the United Kingdom with their Brexit Issue.

China and Europe shoulder the blame.

My comments are focused on FedEx Express today, where trends worsened in the second quarter, primarily due to international revenue challenges, driven, of course, by international economic weakness. While international revenue was still growing, it is not going at the rate we expected because of the overall global economic uncertainty that Raj just mentioned. Some of the largest economies in Europe are experiencing weakness.

That is impacting our international business. Germany, for example, saw their GDP contract quarter-over-quarter in the third calendar quarter. Italy remains a drag on overall Eurozone growth. The unrest in France, and I was there two weeks ago, continues to escalate and spread with yellow vest protest now inspiring similar actions in Belgium, The Netherlands, Germany, and of course, throughout all of France. Also, the uncertainty of the United Kingdom with their Brexit Issue.

FedEx Corporation
Financial
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FedEx Corporation
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FedEx Corporation (FDX), Q2 2019, Dec. 18, 2018
FedEx Corporation (FDX), Q2 2019, Dec. 18, 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
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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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