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

<ul><li>Urban Outfitters, Inc. had an exceptional first quarter for fiscal 2025, performing better than expected with four out of five brands posting record revenues leading to an overall revenue of $1.2 billion.</li><li>Anthropologie, Free People, FP Movement, and Nuuly all experienced double-digit growth, with record operating incomes reported for 3 of their brands.</li><li>These strong results, however, were somewhat tempered by continuous weak performance at the Urban Outfitters brand.</li></ul>

Urban Outfitters, Inc. had an exceptional first quarter for fiscal 2025, performing better than expected with four out of five brands posting record revenues leading to an overall revenue of $1.2 billion.Anthropologie, Free People, FP Movement, and Nuuly all experienced double-digit growth, with record operating incomes reported for 3 of their brands.These strong results, however, were somewhat tempered by continuous weak performance at the Urban Outfitters brand.

Urban Outfitters: Impact Of New Facility On Their Logistics & Profitability & Other Major Drivers

<ul><li>Urban Outfitters, Inc.'s Q4 results reported during their latest earnings reveal a period of growth.</li><li>Retail segment sales grew by 8% to a fourth-quarter record of $1.5 billion, driven by an increase in total retail segment comp (comparable sales) of 5% and a 69% rise in Nuuly segment revenue.</li><li>Strong marketing and improved customer acquisition practices also contributed to the increased performance, with Anthropologie, Free People and FP Movement contributing double-digit retail segment comp sales in the same quarter.</li></ul>

Urban Outfitters, Inc.'s Q4 results reported during their latest earnings reveal a period of growth.Retail segment sales grew by 8% to a fourth-quarter record of $1.5 billion, driven by an increase in total retail segment comp (comparable sales) of 5% and a 69% rise in Nuuly segment revenue.Strong marketing and improved customer acquisition practices also contributed to the increased performance, with Anthropologie, Free People and FP Movement contributing double-digit retail segment comp sales in the same quarter.

Urban Outfitters: Will Its Store Network Expansion Result In Profitable Growth? - Major Drivers

<ul><li>This is our first report on consumer products player, Urban Outfitters, Inc.</li><li>The company's Q3 2024 earnings call demonstrated signs of consistent growth and profitability across most of its brands, although improvements are still needed for the flagship Urban Outfitters brand.</li><li>In this report, we have carried out a fundamental analysis of the historical financial statements of the company.</li></ul>

This is our first report on consumer products player, Urban Outfitters, Inc.The company's Q3 2024 earnings call demonstrated signs of consistent growth and profitability across most of its brands, although improvements are still needed for the flagship Urban Outfitters brand.In this report, we have carried out a fundamental analysis of the historical financial statements of the company.

Urban Outfitters Inc: Initiation of Coverage - What Is Their Core Business Strategy? - Major Drivers

Pan-Asia Catalysts/Events, Quiddity Advisors

Travis Lundy

Pan-Asia Catalysts/Events

Quiddity Advisors

Event-Driven

<ul>
<li>On 3 June 2022, the S&amp;P DJI Global Index team announced changes to the S&amp;P500, S&amp;P Midcap 400, and S&amp;P SmallCap 600 indices (and a number of other smaller indices).</li>
<li>
<a href="https://www.smartkarma.com/entities/vici-properties-inc" target="_blank" data-smartkarma-citation="entities:28786:1" rel="noopener"></a>VICI Properties (VICI) will replace Cerner (CERN) in S&amp;P500 at close of 7 June. Keurig DrPepper and ON Semiconductor will replace UnderArmour and IPG Photonics at close 17 June.</li>
<li>This set of rebalances is particularly interesting in terms of non-offsetting flows, unlike many rebals which are just a game of musical shares between the three top indices.</li>
</ul>


On 3 June 2022, the S&amp;P DJI Global Index team announced changes to the S&amp;P500, S&amp;P Midcap 400, and S&amp;P SmallCap 600 indices (and a number of other smaller indices).

VICI Properties (VICI) will replace Cerner (CERN) in S&amp;P500 at close of 7 June. Keurig DrPepper and ON Semiconductor will replace UnderArmour and IPG Photonics at close 17 June.
This set of rebalances is particularly interesting in terms of non-offsetting flows, unlike many rebals which are just a game of musical shares between the three top indices.


S&P500, S&PMid400, and S&PSmall600 Index Changes for June 2022 - More Interesting Than Usual

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 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

United States

Urban Outfitters, Inc. operates retail stores and direct response, including a catalog and Web sites.  The Company's Urban Outfitters and Anthropologie retail concepts sell fashion apparel, accessories, and household and gift merchandise. Urban also designs and markets young women's casual wear which it provides to the Company's retail operations and sells to retailers worldwide.

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Urban Outfitters (URBN US)

Urban Outfitters: Impact Of New Facility On Their Logistics & Profitability & Other Major Drivers

Urban Outfitters, Inc. had an exceptional first quarter for fiscal 2025, performing better than expected with four out of five brands posting...

Baptista Research

Urban Outfitters: Will Its Store Network Expansion Result In Profitable Growth? - Major Drivers

Urban Outfitters, Inc.'s Q4 results reported during their latest earnings reveal a period of growth. Retail segment sales grew by 8% to a...

Baptista Research

Urban Outfitters Inc: Initiation of Coverage - What Is Their Core Business Strategy? - Major Drivers

This is our first report on consumer products player, Urban Outfitters, Inc. The company's Q3 2024 earnings call demonstrated signs of consistent...

Baptista Research

S&P500, S&PMid400, and S&PSmall600 Index Changes for June 2022 - More Interesting Than Usual

The June 2022 S&P500, S&P Midcap 400 and S&P SmallCap 600 Rebalance was announced on 3 June 2022. VICI will replace CERN at the close of 7 June,...

Travis Lundy

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

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