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JD.com Q2 EPS beats expectations; Henkel cuts FY'19 outlook

TOP NEWS

* JD.com Inc.'s second-quarter adjusted diluted EPS was 2.30 yuan, versus 33 fen in the year-ago period, surpassing the S&P Global Market Intelligence consensus normalized EPS estimate of 54 fen. Attributable net income jumped 644% year over year to 3.56 billion yuan from 478.1 million yuan as net revenue rose 22.9% to 150.3 billion yuan. The company expects third-quarter revenue to grow between 20% and 24% to 126 billion yuan to 130 billion yuan.

* Shares of Henkel AG & Co. KGaA were down more than 5% on Aug. 13 as the company slashed its full-year outlook over anticipated slowness in industrial demand in the second half and after it reported a year-over-year drop in second-quarter profit. The company now expects mid to high single-digit percentage range drop in adjusted EPS from its previous guidance of mid-single percentage range drop year over year. For the three-month period ended June 30, adjusted EPS fell 9.5% to €1.43 from €1.58 a year ago, missing the S&P Global Market Intelligence consensus normalized EPS estimate of €1.46.

TEXTILES, APPAREL AND LUXURY GOODS

* Nike Inc. launched Nike Adventure Club, a sneaker subscription service that offers more than 100 varieties of Nike and Converse sneakers for children.

* New York-based footwear retailer Steven Madden Ltd. acquired privately held footwear brand Greats Brand LLC for an undisclosed amount.

MULTILINE RETAIL

* Poundland Group Ltd., owned by South Africa's Steinhoff International Holdings NV, is testing selling a range of products priced below £1, Retail Gazette reported, citing a company announcement. The trial reportedly was rolled out across 24 stores in the Midlands, which is an area of central England.

* Magazine Luiza SA's net profit for the second quarter of 2019 came in at 108.5 million Brazilian reais, down 23.9% from 142.6 million reais in the year-ago period, while net revenue climbed 16.6% year over year to 4.31 billion reais from 3.70 billion reais.

* Lifestyle International Holdings Ltd.'s half-year basic EPS jumped 54.4% to 85.6 Hong Kong cents from 55.4 cents in the year-ago period. Attributable profit rose 44.8% year over year to HK$1.29 billion from HK$888.1 million. The company raised its interim dividend 1.7% to HK$30.

E-COMMERCE

* U.S. senators Robert Menendez and Richard Blumenthal wrote a letter to Amazon.com Inc. CEO Jeff Bezos, expressing their concern over the purpose of the "Amazon's Choice" badge and if it misleads customers into buying products of inferior quality. Menendez and Blumenthal asked Amazon to explain how it determines which items get the badge, and they gave the company a Sept. 16 deadline for a response. Amazon did not immediately respond to S&P Global Market Intelligence's request for comment.

* British online mattress retailer Eve Sleep PLC confirmed that it is in "very early-stage discussions" to acquire rival Simba Ltd. The development follows The Sunday Times reporting that senior executives from both companies have held merger discussions, with further talks scheduled this week.

* Amazon is in advanced talks to acquire up to 10% of India's Future Retail Ltd., Bloomberg News reported, citing people familiar with the matter. Sources reportedly said Future is seeking a valuation of about 20 billion Indian rupees from the deal, adding that the sale will most likely be routed through a holding company. Amazon is also looking to acquire up to 26% of Reliance Retail Ltd.

* Amazon's Indian arm launched the Amazon Marketplace Appstore, which helps sellers find business applications and solutions created by Amazon and third-party developers, The Economic Times (India) reported, citing Amazon India's vice president for seller services, Gopal Pillai.

* Cosmetics company Grupo Boticário agreed to acquire e-commerce company Beleza.Com Comércio de Beleza e Serviços SA, or Beleza na Web, in a bid to strengthen its online presence, Reuters reported, citing a company statement. Financial terms of the deal reportedly were not disclosed.

FOOD AND STAPLES RETAILING

* Seven & i Holdings Co. Ltd. reported that Seven-Eleven Japan's total sales declined 1.2% year over year in July as same-store sales fell 3.4%. Average spending per customer rose 2.3% but customer numbers decreased 5.6%.

HYPERMARKETS AND SUPERCENTERS

* Advent International Corp., the new owner of Walmart Inc.-branded supermarkets in Brazil, has decided to drop the U.S. retail giant's brand from the stores and rename them Grupo BIG, Reuters reported, citing a company announcement.

* E-Mart Inc. plans to raise 1 trillion South Korean won by the end of 2019 through the sale of its assets, The Korea Bizwire reported, citing a company statement. The company also will repurchase 100 billion won of its stocks in order to increase shareholder value, the report added.

HOUSEHOLD DURABLES AND SPECIALTY RETAIL

* Ceconomy AG said its third-quarter adjusted EBITDA, excluding Fnac Darty SA, declined year over year to €10 million. Sales inched up 0.2% to about €4.6 billion, driven by the company's value-added tax campaigns in Germany and Italy, as well as the shift of the Easter business to April.

* Card Factory PLC said total sales rose 5.5% in the first half of 2019, with like-for-like sales growth of 1.5% in its card factory business, driven by its Valentine's Day and Mother's Day seasonal ranges. The company launched a net of 26 new stores in the U.K. and is on track to open about 50 locations across the U.K. and Ireland within the year.

HOTELS, RESORTS AND CRUISE LINES

* Carnival Corp. appointed Peter Anderson to the newly created role of chief ethics and compliance officer.

* TUI AG's third-quarter underlying EBITA fell 46% year over year to €100.9 million, mainly due to the €144 million impact of the grounding of its Boeing 737 MAX airplanes, while turnover rose 3.7% to €4.75 billion. The travel company also announced that it will sell its two specialist tour operators, Berge & Meer and Boomerang Reisen, to private equity firm Genui GmbH for about €100 million.

CASINOS AND GAMING

* The Stars Group Inc. cut its adjuted diluted EPS outlook to a range of $1.68 to $1.83 and its revenue guidance to between $2.5 billion and $2.58 billion after reporting second-quarter adjusted diluted EPS that fell 19.4% year over year to 48 cents. The S&P Global Market Intelligence consensus normalized EPS estimate for the period was 47 cents. The company also appointed John Schappert as an independent director, effective Aug. 12.

* Twin River Worldwide Holdings Inc. posted second-quarter adjusted EPS of 51 cents, down 8.9% year over year, as net income declined 15.4% to $17.2 million. Revenue rose 29.2% year over year to $143.2 million, driven by the effects of the company's acquisition of Dover Downs Gaming & Entertainment Inc. in 2018.

INDUSTRY NEWS

* More than 50 major U.K. retailers signed a letter to Chancellor Sajid Javid, pushing for a freeze on the business rates multiplier, the fixing of transitional relief and the introduction of "improvement relief" for rate-payers, according to the British Retail Consortium. "Retail accounts for 5% of the economy yet pays 25% of all business rates — this disparity is damaging our high streets and harming the communities they support," BRC CEO Helen Dickinson said.

* Same-store retail sales in Mexico were up by 1.2% year over year in July, Reuters reported, citing Mexico's Asociacion Nacional De Tiendas De Autoservicio Y Departamentales, or ANTAD.

The day ahead

Early morning futures indicators pointed to a lower opening for the U.S. market.

In Asia, the Hang Seng dropped 2.10% to 25,281.30, while the Nikkei 225 shed 1.11 % to 20,455.44.

In Europe, around midday, the FTSE 100 fell 0.41% to 7,196.72, and the Euronext 100 dropped 0.54% to 1,029.18.

On the macro front

The consumer price index and the Redbook Index for retail sales are due out today.

Click here to read about today's financial markets, setting out the factors driving stocks, bonds and currencies around the world ahead of the New York open.

The Daily Dose is updated as of 8 a.m. ET. Some external links may require a subscription. Links are current as of publication time, and we are not responsible if those links are unavailable later.