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 after visiting Vince stores in Connecticut, Long Island and New Jersey.</li><li>We believe the company has continued to be a key winner for Fall, from dresses to suiting and sweaters, offering new styles, expanding core winners (men's bottoms) and adding new categories (small leather goods) and hues to the mix.</li><li>Further, management has been able to leverage more normalized capital levels to be increasingly more strategic in terms of inventory flows, focusing and leveraging key winners and becoming more aggressive in areas such as men's and outerwear.</li></ul>

We are reiterating our Buy rating, $3 price target and projections after visiting Vince stores in Connecticut, Long Island and New Jersey.We believe the company has continued to be a key winner for Fall, from dresses to suiting and sweaters, offering new styles, expanding core winners (men's bottoms) and adding new categories (small leather goods) and hues to the mix.Further, management has been able to leverage more normalized capital levels to be increasingly more strategic in terms of inventory flows, focusing and leveraging key winners and becoming more aggressive in areas such as men's and outerwear.

Pvh Corp - VNCE: Snapping the Store: Building on Fall Strengths; 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>PVH Corp. reported its financial results for the second quarter of 2024, reflecting a blend of successes and strategic pivots amidst a challenging global economic environment.</li><li>Under the leadership of CEO Stefan Larsson, PVH Corp. has managed to align its performance with guidance expectations while surpassing estimates on profitability.</li><li>The quarter showcased a revenue performance in line with PVH's projections, with a noteworthy increase in EBIT margins owing to a significant 250 basis point expansion in gross margins.</li></ul>

PVH Corp. reported its financial results for the second quarter of 2024, reflecting a blend of successes and strategic pivots amidst a challenging global economic environment.Under the leadership of CEO Stefan Larsson, PVH Corp. has managed to align its performance with guidance expectations while surpassing estimates on profitability.The quarter showcased a revenue performance in line with PVH's projections, with a noteworthy increase in EBIT margins owing to a significant 250 basis point expansion in gross margins.

PVH Corp.: Emphasis on Direct-to-Consumer (DTC) and E-commerce Strategy! - Major Drivers

<ul><li>We are reiterating our Buy rating, projections and $3 price target for Vince after meeting with management in their European headquarters and touring the Galeries Lafayette shop in shop in Paris.</li><li>We believe, with the company now well capitalized and acting in a materially more strategic fashion, the European opportunities, from owned stores to additional wholesale to category expansion, position Vince to drive material international growth going froward.</li><li>When coupled with strong product offerings and what we believe are material opportunities in the domestic market, we believe Vince is ideally positioned to register material top and bottom line growth, and we reiterate our Buy rating and $3 price target for VNCE.</li></ul>

We are reiterating our Buy rating, projections and $3 price target for Vince after meeting with management in their European headquarters and touring the Galeries Lafayette shop in shop in Paris.We believe, with the company now well capitalized and acting in a materially more strategic fashion, the European opportunities, from owned stores to additional wholesale to category expansion, position Vince to drive material international growth going froward.When coupled with strong product offerings and what we believe are material opportunities in the domestic market, we believe Vince is ideally positioned to register material top and bottom line growth, and we reiterate our Buy rating and $3 price target for VNCE.

Pvh Corp - VNCE: European Tour: Creating Key Growth Vehicle; Reiterating Buy Rating, $3 PT

<ul><li>We are reiterating our Buy rating, $3 price target and projections for Vince Holding after visiting the company's store in London and reviewing Vince's wholesale offering with leading department stores.</li><li>We continue to believe Europe, and especially the United Kingdom, remain key growth opportunities for Vince, as their fashion aesthetic and pricing are ideal to capture market share in Europe.</li><li>Further, we believe, even with their limited current reach, Vince is already beginning to cultivate a very loyal local customer base that considers the product part of their overall lifestyle.</li></ul>

We are reiterating our Buy rating, $3 price target and projections for Vince Holding after visiting the company's store in London and reviewing Vince's wholesale offering with leading department stores.We continue to believe Europe, and especially the United Kingdom, remain key growth opportunities for Vince, as their fashion aesthetic and pricing are ideal to capture market share in Europe.Further, we believe, even with their limited current reach, Vince is already beginning to cultivate a very loyal local customer base that considers the product part of their overall lifestyle.

Pvh Corp - VNCE: Snapping the Store - London; Future Remains Bright; Reiterate Buy, $3 PT

<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, with Fall now in full swing, Vince is flexing their ability to act strategically both fashion-wise and financially, rolling out impressive looks in sweaters, outerwear, dresses and accessories, expanding men's with new bottoms in multiple colors and silhouettes and layering tops, tees, sweaters and knits.</li><li>Further, the company has been able to drive strong instock levels and expand the colors and products offered to the stores to drive higher overall sales and margins.</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, with Fall now in full swing, Vince is flexing their ability to act strategically both fashion-wise and financially, rolling out impressive looks in sweaters, outerwear, dresses and accessories, expanding men's with new bottoms in multiple colors and silhouettes and layering tops, tees, sweaters and knits.Further, the company has been able to drive strong instock levels and expand the colors and products offered to the stores to drive higher overall sales and margins.

Pvh Corp - VNCE: Snapping the Store: Strategically Focused for Fall; Reiterate Buy, $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: Building on Fall Strengths; Reiterate Buy, $3 PT

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

Small Cap Consumer Research

PVH Corp.: Emphasis on Direct-to-Consumer (DTC) and E-commerce Strategy! - Major Drivers

PVH Corp. reported its financial results for the second quarter of 2024, reflecting a blend of successes and strategic pivots amidst a challenging...

Baptista Research

Pvh Corp - VNCE: European Tour: Creating Key Growth Vehicle; Reiterating Buy Rating, $3 PT

We are reiterating our Buy rating, projections and $3 price target for Vince after meeting with management in their European headquarters and...

Small Cap Consumer Research

Pvh Corp - VNCE: Snapping the Store - London; Future Remains Bright; Reiterate Buy, $3 PT

We are reiterating our Buy rating, $3 price target and projections for Vince Holding after visiting the company's store in London and reviewing...

Small Cap Consumer Research

Pvh Corp - VNCE: Snapping the Store: Strategically Focused for Fall; 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

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