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, raising our price target to $17 (from $14) and raising our FY24 and FY25 EPS projections to $0.29 (from $0.18) and $0.56 (from $0.39), respectively, as Lands' End registered an impressive 1QFY24 (April), beating the Street and their own guidance, on multiple levels, raising the lower end of revenue and raising overall EBITDA and EPS guidance for FY24.</li><li>Further, initial 2QFY24 guidance conservatively bracketed Street expectations.</li><li>Management's focus to raise overall returns by injecting further innovation and newness, reducing inventories, shifting secondary categories to licensed product, driving international growth and expanding the B2B channel, have all continued to gain momentum, and we believe the company is nearing a shift to revenue growth, which would further focus investor attention.</li></ul>

We are reiterating our Buy rating, raising our price target to $17 (from $14) and raising our FY24 and FY25 EPS projections to $0.29 (from $0.18) and $0.56 (from $0.39), respectively, as Lands' End registered an impressive 1QFY24 (April), beating the Street and their own guidance, on multiple levels, raising the lower end of revenue and raising overall EBITDA and EPS guidance for FY24.Further, initial 2QFY24 guidance conservatively bracketed Street expectations.Management's focus to raise overall returns by injecting further innovation and newness, reducing inventories, shifting secondary categories to licensed product, driving international growth and expanding the B2B channel, have all continued to gain momentum, and we believe the company is nearing a shift to revenue growth, which would further focus investor attention.

LE: 1Q Review: Turn Fully on Track; Raising Estimates, PT to $17; Reiterate Buy

Lands' End Inc

LE: 1Q Review: Turn Fully on Track; Raising Estimates, PT to $17; Reiterate Buy