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, projections and $10 price target after visiting Vera Bradley stores in Connecticut and Long Island.</li><li>We believe the company has continued to evolve Vera Bradley offerings and promotions, driving earlier consumer spending and allowing the company to become increasingly more strategic as the Holiday season rolls ahead.</li><li>As such, we remain impressed with the changes in the Vera Bradley business model under CEO Jacqueline Ardrey and her team and reiterate our Buy rating and $10 price target.</li></ul>

We are reiterating our Buy rating, projections and $10 price target after visiting Vera Bradley stores in Connecticut and Long Island.We believe the company has continued to evolve Vera Bradley offerings and promotions, driving earlier consumer spending and allowing the company to become increasingly more strategic as the Holiday season rolls ahead.As such, we remain impressed with the changes in the Vera Bradley business model under CEO Jacqueline Ardrey and her team and reiterate our Buy rating and $10 price target.

VRA: Snapping the Store: Making Xmas Bright; Reiterate Buy, $10 PT

<ul><li>We are reiterating our Buy rating, $9 price target and projections for Vera Bradley with the company reporting 3QFY24 (October) results before the open on Wednesday.</li><li>Further, we believe key collaborations (Disney, Pixar, Peanuts, Winnie the Pooh) have continued to drive full price selling.</li><li>As such, we reiterate our Buy rating and $9 price target for VR.</li></ul>

We are reiterating our Buy rating, $9 price target and projections for Vera Bradley with the company reporting 3QFY24 (October) results before the open on Wednesday.Further, we believe key collaborations (Disney, Pixar, Peanuts, Winnie the Pooh) have continued to drive full price selling.As such, we reiterate our Buy rating and $9 price target for VR.

VRA: 3Q Preview: Showing How to Manage in Tight Times; Reiterate Buy, $9 PT

<ul><li>We are reiterating our Buy rating, $9 price target and projections for Vera Bradley after touring stores in Connecticut and Long Island.</li><li>We believe, with a focus on streamlining the shopping experience, continued flows of newness and licensed materials, including the first collection from Pixar (Toy Story), the return of key favorites and a rising de-emphasis on non-core categories and offerings, Vera Bradley has continued to satisfy their core shoppers and is creating the potential to attract and deepen their relationship with new customers that are not just looking for the newest patterns, but for compelling accessories offering high utility levels and impressive overall looks.</li><li>We believe the company is materially better positioned for the Holidays than last year in terms of inventory flows and product offerings, and we reiterate our Buy rating and $9 price target for VRA.</li></ul>

We are reiterating our Buy rating, $9 price target and projections for Vera Bradley after touring stores in Connecticut and Long Island.We believe, with a focus on streamlining the shopping experience, continued flows of newness and licensed materials, including the first collection from Pixar (Toy Story), the return of key favorites and a rising de-emphasis on non-core categories and offerings, Vera Bradley has continued to satisfy their core shoppers and is creating the potential to attract and deepen their relationship with new customers that are not just looking for the newest patterns, but for compelling accessories offering high utility levels and impressive overall looks.We believe the company is materially better positioned for the Holidays than last year in terms of inventory flows and product offerings, and we reiterate our Buy rating and $9 price target for VRA.

VRA: Snapping the Store: An Impressive Holiday Experience; Reiterate Buy, $9 PT

Research from Water Tower Research, Water Tower Research

Water Tower Research

Research from Water Tower Research

Water Tower Research is a leading equity research firm that provides research on micro, small and mid cap companies.

Water Tower Research was founded by Wall Street veterans after witnessing a fundamental shift in the investment research industry with the result being a declining knowledge base among investors, a lack of awareness and a shrinking pool of fundamental research being conducted on companies across the small-cap and micro-cap spectrum. The same issues are now increasingly occurring in the mid-cap space. This sea change within the investment community is impacting not only the companies themselves but also current shareholders and potential investors. With significantly less active sell-side sponsorship by Wall Street, a substantial information gap has developed between companies and various constituents in the financial community. The net result is fewer channels for insight and information to flow between companies and investors.

Equity Research Firm

Thematic (Sector/Industry)

<ul><li>Many of the companies that participated in our recent Consumer Products Virtual Investor Conference have been working hard in righting the ship following the post- pandemic hangover that a lot of consumer names have suffered through.</li><li>There were several new management teams with new strategies, and a lot of talk about inflection points.</li><li>Vera Bradley’s CEO, CFO, and CMO have each been there for less than two years, and the company is about to roll out its Project Restoration strategic initiatives next month, which management believes will take the company into the third <span style="font-size: var(--content-font-size);">major stage of its lifecycle.</span></li></ul>

Many of the companies that participated in our recent Consumer Products Virtual Investor Conference have been working hard in righting the ship following the post- pandemic hangover that a lot of consumer names have suffered through.There were several new management teams with new strategies, and a lot of talk about inflection points.Vera Bradley’s CEO, CFO, and CMO have each been there for less than two years, and the company is about to roll out its Project Restoration strategic initiatives next month, which management believes will take the company into the third major stage of its lifecycle.

Consumer Products Conference Recap - June 20, 2024

United States

Vera Bradley, Inc. designs, produces and retails fashion accessories for women. The Company markets handbags, accessories and travel and leisure items through its chain of retail stores and independent retailers.

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Vera Bradley (VRA US)

VRA: Snapping the Store: Making Xmas Bright; Reiterate Buy, $10 PT

We are reiterating our Buy rating, projections and $10 price target after visiting Vera Bradley stores in Connecticut and Long Island. We believe...

Small Cap Consumer Research

VRA: 3Q Preview: Showing How to Manage in Tight Times; Reiterate Buy, $9 PT

We are reiterating our Buy rating, $9 price target and projections for Vera Bradley with the company reporting 3QFY24 (October) results before the...

Small Cap Consumer Research

VRA: Snapping the Store: An Impressive Holiday Experience; Reiterate Buy, $9 PT

We are reiterating our Buy rating, $9 price target and projections for Vera Bradley after touring stores in Connecticut and Long Island. We...

Small Cap Consumer Research

Consumer Products Conference Recap - June 20, 2024

Many of the companies that participated in our recent Consumer Products Virtual Investor Conference have been working hard in righting the ship...

Water Tower Research

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