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, $3 price target and projections for Vince as we look forward to 2H24.</li><li>We believe, as the company finally enters a period of "apples to apples" comparisons, Vince will be able to fully demonstrate the material positives blooming in the business model, from strong fashion looks, lower discounting in the outlet and main line channels, gains from better sourcing and a continued emphasis on cost controls.</li><li>Further, as 2H rolls forward as a positive, we believe the company will be able to, on a much more credible basis, focus investors on the potential material gains from increasing the overall penetration in men's wear, adding more stores to the mix and expanding internationally, all of which should refocus investors on VNCE.</li></ul>

We are reiterating our Buy rating, $3 price target and projections for Vince as we look forward to 2H24.We believe, as the company finally enters a period of "apples to apples" comparisons, Vince will be able to fully demonstrate the material positives blooming in the business model, from strong fashion looks, lower discounting in the outlet and main line channels, gains from better sourcing and a continued emphasis on cost controls.Further, as 2H rolls forward as a positive, we believe the company will be able to, on a much more credible basis, focus investors on the potential material gains from increasing the overall penetration in men's wear, adding more stores to the mix and expanding internationally, all of which should refocus investors on VNCE.

Pvh Corp - VNCE: 2H Signposts: Showing What Vince Can Do; Reiterate Buy, $3 PT