iShares Globl Consumer Discretionary

Following the strong results in fiscal 2Q17, TJX Companies raised its earnings outlook for fiscal 2017. TJX expects its fiscal 2017 EPS to be in the $3.39–$3.43 range.

The Nike+ Training Club clocked ~17 million downloads by 1Q15. The app is now available in 18 languages, creating the framework for a global community.

As of August 15, Kohl’s was trading at a 12-month forward PE (price-to-earnings) ratio of 11.7x.

Macy’s (M) is gearing up for further international expansion with its plan to open its first Bloomingdale’s store in Kuwait.

Overall same-store sales growth for Dunkin’ Donuts has been declining. The company had negative same-store sales growth in 2008 and 2009.

A strategic focus and balanced strategy for restaurant include a present in grocery chains to help diversify risks associated with a bad economic cycle.

The company grew its revenues at a compound annual growth rate of more than 35% over the past five years to come in at $1.6 billion in fiscal 2014.

On January 4, Macy’s disclosed 68 store closures—three stores closed in mid-2016, 63 stores slated to close in early spring 2017, and two in mid-2017.

Nordstrom’s off-price Rack business continued to display strength in fiscal 2Q16 ended July 30, 2016.

Macy’s (M) gross margin remained flat in fiscal 2Q16 ended July 30, 2016. However, the company’s operating margin declined on a year-over-year basis.

TJX Companies’ (TJX) gross margin in fiscal 1Q17 rose by 50 basis points on a year-over-year basis to 28.8%.

Macy’s adjusted EPS (earnings per share) fell by 28.6% on a year-over-year basis in 1Q16. Analysts expect Macy’s earnings to fall in 2Q16 also.

Aside from operating full-line upscale stores, Nordstrom also conducts off-price business through its Nordstrom Rack stores and off-price digital channels.

Despite lower sales, Best Buy’s gross margin improved from 23.7% in fiscal 1Q16 to 25.4% in fiscal 1Q17.

Starbucks has about 5,239 restaurants in the CAP segment. It’s growing units at an average of 18.4% compared to the rest of the regions.

Same-store sales growth is one of the key revenue drivers for a restaurant company like Starbucks (SBUX), McDonald’s (MCD), and Darden Restaurants (DRI).

Starbucks (SBUX) operates restaurants in 65 countries around the world. However, 83% of its revenue comes from the Americas and the CAP segments.

While the absolute minimum wage has increased, when adjusted for inflation in 2015, its purchasing power has declined.

Dunkin’ Brands is now expanding into the afternoon daypart in order to win customers in a different daypart and improve sales leverage.

Benefits to a franchise model include low need for capital, more focus on brand in marketing and menus, and a potential to penetrate faster into the market.

As of 2014, there were about 2,500 Baskin-Robbins locations in the United States and about 5,000 locations in the international market.

Dunkin’ Donuts’ combined revenue from national as well as international units was $569 million in 2014. Of that, $548 million came from the US market alone.

Disposable income increased by 40 basis points month-over-month in January. On a YoY (year-over-year) basis, disposable income increased 9.5%.