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

Small Cap Consumer Research

Equity research on small cap consumer names.

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 price target for Lands' End with the company announcing 1QFY24 (April) results before the open on Wednesday.</li><li>We believe 1Q was another key step forward in terms of driving newness, reducing discounting and shifting the model to a focus on higher overall returns, with key categories (footwear) beginning to shift to the licensed model and international continuing to slowly turn.</li><li>That said, with 1Q anniversarying the closing of the Delta contract, comparisons will be skewed.</li></ul>

We are reiterating our Buy rating, projections and price target for Lands' End with the company announcing 1QFY24 (April) results before the open on Wednesday.We believe 1Q was another key step forward in terms of driving newness, reducing discounting and shifting the model to a focus on higher overall returns, with key categories (footwear) beginning to shift to the licensed model and international continuing to slowly turn.That said, with 1Q anniversarying the closing of the Delta contract, comparisons will be skewed.

LE: 1Q Preview; Margin Driven Model Upside On Track; Reiterate Buy, $14 PT

Lands' End Inc

LE: 1Q Preview; Margin Driven Model Upside On Track; Reiterate Buy, $14 PT