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, $10 price target and projections for Vera Bradley after visiting stores in Connecticut and Long Island.</li><li>As expected, with the implementation of the "New Day" program to completely shift the chain to management's vision in July nearing, we are already seeing material changes, with an emphasis on reducing categories and clearing in-store goods aggressively to make way for a completely new look in the mainline and outlet stores.</li><li>Further, product newness flows have been materially shifted, with minimal April newness and a material flow of product in both outlets and main line stores set for Mother's Day.</li></ul>

We are reiterating our Buy rating, $10 price target and projections for Vera Bradley after visiting stores in Connecticut and Long Island.As expected, with the implementation of the "New Day" program to completely shift the chain to management's vision in July nearing, we are already seeing material changes, with an emphasis on reducing categories and clearing in-store goods aggressively to make way for a completely new look in the mainline and outlet stores.Further, product newness flows have been materially shifted, with minimal April newness and a material flow of product in both outlets and main line stores set for Mother's Day.

VRA: Snapping the Store: New Day Shift Becoming Apparent; Reiterate Buy, $10 PT