Daily Brief Consumer: Tata Motors Ltd, Etsy Inc, Golden Eagle Retail, Comcast Corp Class A, Keurig Dr Pepper Inc, Domino’s Pizza, Unilever PLC, OPAP SA, Skechers Usa Inc Cl A, Thai Foods Group Public Company Limited and more

Lucror Analytics’ ESG Scores are based on a 3-tiered scale and are adjusted for Controversies (if applicable).
We view Tata Motors’ ESG as “Adequate”, with “Adequate” Governance and Social pillars, while its Environmental pillar is “Strong”. Controversies are “Immaterial” and Disclosure is “Strong”.

• Etsy reported another strong performance and kickstarted the year with an all-around beat.
• With a roughly 11% increase in revenue to $641 million, the company’s adjusted EBITDA margin was once again very high at 26.6%.
• Etsy also witnessed strong trends in apparel, particularly in personalized and pop culture-related tops, tees, hoodies, sweatshirts, bags, purses, and gift goods.

Lucror Analytics Weekly Wraps provide an overview of all Morning Views comments and reports published by our analyst team in the past week, and also showcase a list of the most-read reports.

In this Insight:

1. Lenovo
2. Vedanta Resources
3. China Jinmao Holdings
4. Lifestyle International Holdings
5. Geely Auto

and more…

• Comcast Corporation started off with 2023 on a mixed note.
• While its revenues and earnings were above Wall Street expectations, the total company revenue of $29.7 billion fell 4%.
• We give Comcast Corporation a ‘Hold’ rating with a revised target price.

• The last quarter proved to be a successful one for Keurig Dr Pepper.
• Their U.S. refreshment beverages segment performed exceptionally well, with share gains in multiple categories and significant market share growth for brands like Dr.
• Pepper.

• Domino’s Pizza had a mixed quarter.
• The company’s revenues were below Wall Street expectations but its operating income margin increased by 100 basis points year-over-year resulting in an earnings beat.
• In the first quarter, Domino’s international company opened 143 new stores while closing 37 others, totaling 106 net new stores.

• Unilever made a good start to the year and delivered double-digit underlying sales growth that was above Wall Street expectations.
• The underlying sales growth was 10.5% in the quarter.
• Unilever made good progress in executing its strategic priorities, beginning with innovation and brands.

OPAP’s Q123 results demonstrated continued strong growth in revenue, helped by improvements to both the retail and online product offering, and profits, with the support of a more favourable macroeconomic background as inflation has declined. The ongoing rejuvenation of the gaming offer is leading to growing player engagement and frequency of use. Management’s unchanged guidance for FY23 looks well-supported. The valuation and dividend yield (9.1%) look attractive relative to the peers.

• Skechers delivered a good financial performance for the quarter, outperforming Wall Street expectations in terms of both its top and bottom lines.
• Additionally, Skechers made great strides in controlling its inventory levels, which fell 17% from the previous quarter.
• Furthermore, the company introduced its Skechers Plus loyalty program in Canada, the UK, Germany, and Spain during the first quarter.