GS Consumer Thoughts Into Earnings

This report provides GS sector specialist views on crowded consumer stocks ahead of Q2 earnings, alongside updates on Chinese consumption trends and recent retail performance in Europe.

Key Takeaways

• 1.Consumer sector earnings season is approaching, with analysts highlighting specific crowded long and short positions.
• 2.Sainsburys missed retail LFL expectations, while Kering reiterated intentions to return to growth and Adidas faced market pressure despite strong high-frequency signals.
• 3.Consumer demand in China remains challenged in Q2, with soft demand and unfavorable weather impacting specific beer and apparel segments.

Table of Contents

• Thoughts into Earnings – GS Positioning Scores
• Crowded Positioning
• Macro, Strategy & Big Picture Themes
• Luxury, Sporting Goods & Brands
• Retail & Digital
• Staples
• GS Upcoming Events

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