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 and $20 price target for Lands' End and raising our FY24 and FY25 projections after the company registered another strong upside quarter in 2Q FY24 (July) and provided further compelling evidence the focus on innovation and newness to drive higher overall top and bottom line returns is fully on track and setting up for strong near and longer term upside.</li><li>We believe there remain multiple key catalysts at Lands' End, from: 1) shifts in customer base to a younger, more fashion driven buyer; 2) European top line and margin expansion 3) new online marketplaces, with Nordstrom just coming online; 4) material expansion of the licensing effort, with a new domestic license for wholesale apparel, outerwear and swimwear; and 5) market share gains in the B2B business.</li><li>When combined with a disciplined management team focused on efficiencies and operations, we view the best as still ahead for LE and reiterate our Buy rating and $20 price target.</li></ul>

We are reiterating our Buy rating and $20 price target for Lands' End and raising our FY24 and FY25 projections after the company registered another strong upside quarter in 2Q FY24 (July) and provided further compelling evidence the focus on innovation and newness to drive higher overall top and bottom line returns is fully on track and setting up for strong near and longer term upside.We believe there remain multiple key catalysts at Lands' End, from: 1) shifts in customer base to a younger, more fashion driven buyer; 2) European top line and margin expansion 3) new online marketplaces, with Nordstrom just coming online; 4) material expansion of the licensing effort, with a new domestic license for wholesale apparel, outerwear and swimwear; and 5) market share gains in the B2B business.When combined with a disciplined management team focused on efficiencies and operations, we view the best as still ahead for LE and reiterate our Buy rating and $20 price target.

LE: 2Q Review: Upside Now...and Set Up for Later; Reiterate Buy, $20 PT

Lands' End Inc

LE: 2Q Review: Upside Now...and Set Up for Later; Reiterate Buy, $20 PT