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).

Equity Bottom-Up

<ul><li>We are reiterating our Buy rating, $3 price target and projections for Vince Holding after visiting stores in Connecticut, Long Island and New Jersey.</li><li>We believe Vince continues to shine with strong offerings, from key event/gala driven looks, cold weather items, further expansion of men's and accessories and a Pre-Spring collection for the vacation and "snowbird" buyer.</li><li>Further, the Black Friday event was a winner, driving traffic and offering compelling savings at 25% off most of the store.</li></ul>

We are reiterating our Buy rating, $3 price target and projections for Vince Holding after visiting stores in Connecticut, Long Island and New Jersey.We believe Vince continues to shine with strong offerings, from key event/gala driven looks, cold weather items, further expansion of men's and accessories and a Pre-Spring collection for the vacation and "snowbird" buyer.Further, the Black Friday event was a winner, driving traffic and offering compelling savings at 25% off most of the store.

Pvh Corp - VNCE: Snapping the Store: Cold Weather Winner: Reiterate Buy, $3 PT

<ul><li>We are reiterating our Buy rating and $3 price target for VNCE and slightly reducing our projections for FY24 and FY25 after Vince reported 3QFY24 results just below expectations, driven by warmer weather, a concerted effort by management to continue to reduce overall discounting, especially in the outlet channel, and lower than expected wholesale reorders as the United States $ strengthened.</li><li>We do not believe any of these items materially impact the momentum and potential for the turn at Vince and, with the company resuming owned store growth both domestically and internationally in FY25, new product categories rolling in and the focus on higher pricing and margins remaining unabated, we believe the potential for upside remains strong.</li><li>As such, we are reiterating our Buy rating and $3 price target for VNCE.</li></ul>

We are reiterating our Buy rating and $3 price target for VNCE and slightly reducing our projections for FY24 and FY25 after Vince reported 3QFY24 results just below expectations, driven by warmer weather, a concerted effort by management to continue to reduce overall discounting, especially in the outlet channel, and lower than expected wholesale reorders as the United States $ strengthened.We do not believe any of these items materially impact the momentum and potential for the turn at Vince and, with the company resuming owned store growth both domestically and internationally in FY25, new product categories rolling in and the focus on higher pricing and margins remaining unabated, we believe the potential for upside remains strong.As such, we are reiterating our Buy rating and $3 price target for VNCE.

Pvh Corp - VNCE: 3Q Review: Turn Remains on Track; Reiterate Buy, $3 PT

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.

<ul><li>Investors reviewing PVH Corp’s recent performance might note several key aspects from the second quarter of 2024.</li><li>On the positive side, PVH has managed to align its revenue with guidance while exceeding profitability and earnings per share expectations.</li><li>A notable achievement was expanding EBIT margins, partly due to improving gross margins by 250 basis points and enhancing inventory productivity, with a 12% year-over-year reduction in inventory.</li></ul>

Investors reviewing PVH Corp’s recent performance might note several key aspects from the second quarter of 2024.On the positive side, PVH has managed to align its revenue with guidance while exceeding profitability and earnings per share expectations.A notable achievement was expanding EBIT margins, partly due to improving gross margins by 250 basis points and enhancing inventory productivity, with a 12% year-over-year reduction in inventory.

PVH Corp: Optimizing Direct-to-Consumer Strategy For A Competitive Edge! - Major Drivers

<ul><li>We are reiterating our Buy rating, $3 price target and projections for Vince Holding with the company reporting 3QFY24 (October) results before the open on Tuesday.</li><li>We believe 3Q was another strong quarter for the company, as Vince focused on winning fashion, expanded the men's offerings and, we believe, gained further traction on the wholesale side.</li><li>Further, with the impact of the ABG Vince transaction (completed in May 2023) now fully incorporated, Vince can begin to demonstrate progress on a true "apples to apples" basis.</li></ul>

We are reiterating our Buy rating, $3 price target and projections for Vince Holding with the company reporting 3QFY24 (October) results before the open on Tuesday.We believe 3Q was another strong quarter for the company, as Vince focused on winning fashion, expanded the men's offerings and, we believe, gained further traction on the wholesale side.Further, with the impact of the ABG Vince transaction (completed in May 2023) now fully incorporated, Vince can begin to demonstrate progress on a true "apples to apples" basis.

Pvh Corp - VNCE: 3Q Preview: Showing Their Style; Reiterate Buy, $3 Price Target

<ul><li>We are reiterating our Buy rating, $3 price target and projections for Vince after visiting stores in Connecticut, New Jersey and New York.</li><li>As the stores enter the heart of Holiday selling, strong fashion items, better in stock levels, expansion into new accessory categories (belting) and a wider selection of key items such as men's bottoms, sweaters, outerwear and dresses, are driving traffic and sales.</li><li>Further, the launch of the Black Friday 25% off the store sale (similar to last year) is poised to once again register strong results.</li></ul>

We are reiterating our Buy rating, $3 price target and projections for Vince after visiting stores in Connecticut, New Jersey and New York.As the stores enter the heart of Holiday selling, strong fashion items, better in stock levels, expansion into new accessory categories (belting) and a wider selection of key items such as men's bottoms, sweaters, outerwear and dresses, are driving traffic and sales.Further, the launch of the Black Friday 25% off the store sale (similar to last year) is poised to once again register strong results.

Pvh Corp - VNCE: Snapping the Store: Luxury Holiday Winner; Reiterate Buy Rating, $3 PT

United States

PVH Corp. designs, sources, manufactures, and markets men's, women's, and children's apparel and footwear.  The Company markets its products at a wholesale level through department store chains and directly to consumers through retail stores. PVH Corp offers attire that includes dress shirts, sportswear, neckwear, and footwear.

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Pvh Corp (PVH US)

Pvh Corp - VNCE: Snapping the Store: Cold Weather Winner: Reiterate Buy, $3 PT

We are reiterating our Buy rating, $3 price target and projections for Vince Holding after visiting stores in Connecticut, Long Island and New...

Small Cap Consumer Research

Pvh Corp - VNCE: 3Q Review: Turn Remains on Track; Reiterate Buy, $3 PT

We are reiterating our Buy rating and $3 price target for VNCE and slightly reducing our projections for FY24 and FY25 after Vince reported 3QFY24...

Small Cap Consumer Research

PVH Corp: Optimizing Direct-to-Consumer Strategy For A Competitive Edge! - Major Drivers

Investors reviewing PVH Corp’s recent performance might note several key aspects from the second quarter of 2024. On the positive side, PVH has...

Baptista Research

Pvh Corp - VNCE: 3Q Preview: Showing Their Style; Reiterate Buy, $3 Price Target

We are reiterating our Buy rating, $3 price target and projections for Vince Holding with the company reporting 3QFY24 (October) results before...

Small Cap Consumer Research

Pvh Corp - VNCE: Snapping the Store: Luxury Holiday Winner; Reiterate Buy Rating, $3 PT

We are reiterating our Buy rating, $3 price target and projections for Vince after visiting stores in Connecticut, New Jersey and New York. As the...

Small Cap Consumer Research

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