Independent research on the U.S. markets, Baptista Research

Baptista Research

Independent research on the U.S. markets

Baptista Research is an independent financial research house focused on the U.S. markets. We provide equity research as well as credit research reports on the top-listed U.S. companies with most of our focus on technology, consumer goods and services, automobiles, industrials, oil and gas, pharma, and healthcare. Our research has served more than 3000 institutional investors including mutual funds, hedge funds, banks, family offices, and various buy-side firms. We operate a research subscription service where institutions, as well as retail investors, can have priority access to all our research. We also have a wide distribution of our research reports across some of the top global financial platforms. Apart from equity research and credit research, we also provide advisory services with respect to mergers & acquisitions (M&A), private equity/ venture capital fundraising, valuation reports, and investment management services for corporates.
Baptista Research is owned and managed by Ishan Majumdar, an ex-Venture Capitalist/ Investment Banker, a Chartered Accountant, and a Masters’ degree holder in Management from HEC Paris. Ishan has nearly a decade of experience in Mergers and Acquisitions, Leveraged Buyouts (LBOs), Venture Capital Investing, Corporate Strategy, and Valuation in front-office roles at the likes of BNP Paribas CIB, Credit Agricole CIB, Groupe Danone, and TIW Private Equity. He has worked on and closed multiple acquisition deals, leveraged buyouts, and start-up investment transactions.

Equity Bottom-Up

Abercrombie & Fitch Co Cl A / Equity Bottom-Up

<ul><li>Abercrombie & Fitch reported its twelfth consecutive quarter of growth, achieving record net sales of $1.3 billion, an increase of 7% from the previous year.</li><li>This growth showcased a balanced performance across regions, with notable success in the Americas and EMEA, despite challenges in the APAC region where sales declined 6%.</li><li>The company also managed to increase its gross margin to 62.5% amidst a 210 basis point adverse impact due to tariffs.</li></ul>

Abercrombie & Fitch reported its twelfth consecutive quarter of growth, achieving record net sales of $1.3 billion, an increase of 7% from the previous year.This growth showcased a balanced performance across regions, with notable success in the Americas and EMEA, despite challenges in the APAC region where sales declined 6%.The company also managed to increase its gross margin to 62.5% amidst a 210 basis point adverse impact due to tariffs.

Abercrombie & Fitch Co.’s Global Push—Can EMEA & APAC Become the Next Growth Engines?

Equity Research Focusing on the Consumer Sector, Small Cap Consumer Research

Small Cap Consumer Research

Equity Research Focusing on the Consumer Sector

Small Cap Consumer Research, LLC is a leading company-sponsored equity research provider focusing on the consumer sector (apparel, brand licensing and specialty retailing segments).

<ul><li>We are reiterating our Buy rating, $30 price target and projections for A.K.A. Brands after meeting with management in their San Francisco headquarters.</li><li>We believe the company has continued to make material progress on multiple fronts, from adding new Princess Polly stores (and upgrading the current fleet), increasing the wholesale presence for both Petal & Pup and Princess Polly, leveraging the "test and repeat" model to return Culture Kings to higher margins and top line growth, and shifting the Australian market to top line expansion.</li><li>When combined with the potential for debt refinancing and continued strong online results (helped by new store expansion), we believe there remains top and bottom line upside, and we are reiterating our Buy rating and $30 price target for AKA.</li></ul>

We are reiterating our Buy rating, $30 price target and projections for A.K.A. Brands after meeting with management in their San Francisco headquarters.We believe the company has continued to make material progress on multiple fronts, from adding new Princess Polly stores (and upgrading the current fleet), increasing the wholesale presence for both Petal & Pup and Princess Polly, leveraging the "test and repeat" model to return Culture Kings to higher margins and top line growth, and shifting the Australian market to top line expansion.When combined with the potential for debt refinancing and continued strong online results (helped by new store expansion), we believe there remains top and bottom line upside, and we are reiterating our Buy rating and $30 price target for AKA.

Abercrombie & Fitch Co Cl A - AKA: Remain Bullish After Management Meetings; Reiterate Buy, $30 PT

<ul><li>Abercrombie & Fitch has reported its first-quarter results for fiscal year 2025, delivering performance that exceeded initial projections in terms of both revenue and earnings.</li><li>The company's net sales reached a record $1.1 billion, marking an 8% increase compared to the previous year, exceeding the anticipated range of 4% to 6%.</li><li>The operating margin achieved was 9.3%, and earnings per share came in at $1.59, both surpassing initial guidance.</li></ul>

Abercrombie & Fitch has reported its first-quarter results for fiscal year 2025, delivering performance that exceeded initial projections in terms of both revenue and earnings.The company's net sales reached a record $1.1 billion, marking an 8% increase compared to the previous year, exceeding the anticipated range of 4% to 6%.The operating margin achieved was 9.3%, and earnings per share came in at $1.59, both surpassing initial guidance.

Abercrombie & Fitch Co.: An Insight into its Marketing & Digital Technology Investments & Other Major Drivers

<ul><li>Abercrombie & Fitch Company delivered strong financial performance in the fourth quarter of fiscal year 2024, marking a successful turnaround and growth trajectory driven by robust sales, improved operating efficiencies, and strategic investments.</li><li>The period ended with notable financial achievements including a 9% increase in net sales year-over-year, translating to $1.58 billion.</li><li>Excluding the impact of the 53rd week in 2023, the net sales growth was an even more impressive 14%.</li></ul>

Abercrombie & Fitch Company delivered strong financial performance in the fourth quarter of fiscal year 2024, marking a successful turnaround and growth trajectory driven by robust sales, improved operating efficiencies, and strategic investments.The period ended with notable financial achievements including a 9% increase in net sales year-over-year, translating to $1.58 billion.Excluding the impact of the 53rd week in 2023, the net sales growth was an even more impressive 14%.

Abercrombie & Fitch Quietly Built A Retail Empire — And Just Fired Its Biggest Growth Cannon Yet!

<ul><li>We are reiterating our Buy rating and $30 price target for a.k.a. Brands after the company registered slight upside to their already raised 4Q guidance and rolled out initial 2025 guidance which was above consensus on the top line and bracketed EBITDA projections.</li><li>Management also announced they would more than double the Princess Polly domestic store base in 2025 and  Princess Polly and Petal & Pup will be wholesaled in all Nordstrom doors this month.</li><li>With Culture Kings also on the upswing and the Australia/New Zealand market nearing a return to growth, we believe a.k.a. Brands is becoming an even more compelling multi-year omnichannel growth story, and we reiterate our Buy rating and $30 price target.</li></ul>

We are reiterating our Buy rating and $30 price target for a.k.a. Brands after the company registered slight upside to their already raised 4Q guidance and rolled out initial 2025 guidance which was above consensus on the top line and bracketed EBITDA projections.Management also announced they would more than double the Princess Polly domestic store base in 2025 and  Princess Polly and Petal & Pup will be wholesaled in all Nordstrom doors this month.With Culture Kings also on the upswing and the Australia/New Zealand market nearing a return to growth, we believe a.k.a. Brands is becoming an even more compelling multi-year omnichannel growth story, and we reiterate our Buy rating and $30 price target.

AKA: 4Q Review: Continuing to Win in Multiple Channels; Reiterate Buy, $30 PT

United States

Abercrombie & Fitch Co.  a specialty retailer that operates stores and direct-to-consumer operations. Through these channels, the Company sells: casual sportswear apparel, including knit and woven shirts, graphic t-shirts, fleece, jeans and woven pants, shorts, sweaters, and outerwear; personal care products; and accessories for men, women and kids.

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Abercrombie & Fitch Co Cl A (ANF US)

Abercrombie & Fitch Co.’s Global Push—Can EMEA & APAC Become the Next Growth Engines?

Abercrombie & Fitch reported its twelfth consecutive quarter of growth, achieving record net sales of $1.3 billion, an increase of 7% from the...

Baptista Research

Abercrombie & Fitch Co Cl A - AKA: Remain Bullish After Management Meetings; Reiterate Buy, $30 PT

We are reiterating our Buy rating, $30 price target and projections for A.K.A. Brands after meeting with management in their San Francisco...

Small Cap Consumer Research

Abercrombie & Fitch Co.: An Insight into its Marketing & Digital Technology Investments & Other Major Drivers

Abercrombie & Fitch has reported its first-quarter results for fiscal year 2025, delivering performance that exceeded initial projections in...

Baptista Research

Abercrombie & Fitch Quietly Built A Retail Empire — And Just Fired Its Biggest Growth Cannon Yet!

Abercrombie & Fitch Company delivered strong financial performance in the fourth quarter of fiscal year 2024, marking a successful turnaround...

Baptista Research

AKA: 4Q Review: Continuing to Win in Multiple Channels; Reiterate Buy, $30 PT

We are reiterating our Buy rating and $30 price target for a.k.a. Brands after the company registered slight upside to their already raised 4Q...

Small Cap Consumer Research

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