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

Small Cap Consumer Research

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, $23 price target and projections for Guess?</li><li>as we look forward to 2025.</li><li>We believe, after their first acquisition, continued European expansion and investor worries over weak domestic performance in 2024, 2025 will a year for the company to begin to leverage their prior investments and shift the investment thesis forward to top line and margin expansion.</li></ul>

We are reiterating our Buy rating, $23 price target and projections for Guess?as we look forward to 2025.We believe, after their first acquisition, continued European expansion and investor worries over weak domestic performance in 2024, 2025 will a year for the company to begin to leverage their prior investments and shift the investment thesis forward to top line and margin expansion.

GES: 2025 Signposts: Proving Nay Sayers Wrong; Reiterate Buy Rating, $23 PT

<ul><li>We are reiterating our Buy rating, $23 price target and projections for Guess?</li><li>after visiting stores in the Metro New York City and Long Island.</li><li>As we near the heart of Holiday party and event season, Guess?</li></ul>

We are reiterating our Buy rating, $23 price target and projections for Guess?after visiting stores in the Metro New York City and Long Island.As we near the heart of Holiday party and event season, Guess?

GES: Snapping the Store: All Dressed Up; Reiterate Buy, $23 PT

Independent research on the U.S. markets, Baptista Research

Baptista Research

Independent research on the U.S. markets

Baptista Research is an independent financial research house focused on the U.S. markets. We provide equity research as well as credit research reports on the top-listed U.S. companies with most of our focus on technology, consumer goods and services, automobiles, industrials, oil and gas, pharma, and healthcare. Our research has served more than 3000 institutional investors including mutual funds, hedge funds, banks, family offices, and various buy-side firms. We operate a research subscription service where institutions, as well as retail investors, can have priority access to all our research. We also have a wide distribution of our research reports across some of the top global financial platforms. Apart from equity research and credit research, we also provide advisory services with respect to mergers & acquisitions (M&A), private equity/ venture capital fundraising, valuation reports, and investment management services for corporates.
Baptista Research is owned and managed by Ishan Majumdar, an ex-Venture Capitalist/ Investment Banker, a Chartered Accountant, and a Masters’ degree holder in Management from HEC Paris. Ishan has nearly a decade of experience in Mergers and Acquisitions, Leveraged Buyouts (LBOs), Venture Capital Investing, Corporate Strategy, and Valuation in front-office roles at the likes of BNP Paribas CIB, Credit Agricole CIB, Groupe Danone, and TIW Private Equity. He has worked on and closed multiple acquisition deals, leveraged buyouts, and start-up investment transactions.

<ul><li>Guess, Inc. reported its third-quarter fiscal 2025 results amidst several positive strides and challenges.</li><li>The company's revenue grew by 13% to $739 million, primarily driven by the acquisition and integration of rag & bone and a modest increase from its core business.</li><li>However, the stronger U.S. dollar affected revenues negatively, alongside weakened performance in some regions.</li></ul>

Guess, Inc. reported its third-quarter fiscal 2025 results amidst several positive strides and challenges.The company's revenue grew by 13% to $739 million, primarily driven by the acquisition and integration of rag & bone and a modest increase from its core business.However, the stronger U.S. dollar affected revenues negatively, alongside weakened performance in some regions.

Guess? Inc.: The Role of Rag & Bone Acquisition & Other Major Drivers

<ul><li>We are reiterating our Buy rating, $20 price target and projections for Lands' End as we review the June catalog.</li><li>Picking up on a theme from last month, the June catalog focus is on the Lands' End "tote girl." The company has continued to leverage the popularity of their totes (the most purchases Lands' End item) and an overall trend towards personalization and embellishment, to capture a younger customer and drive multiple item purchases.</li><li>For June, the focus remains on swimwear (now at 50% off), and great new looks for the Lands'; End summer lifestyle, from a new linen collection, dresses, the emerging swim dress category and fitted tops and cotton sweaters.</li></ul>

We are reiterating our Buy rating, $20 price target and projections for Lands' End as we review the June catalog.Picking up on a theme from last month, the June catalog focus is on the Lands' End "tote girl." The company has continued to leverage the popularity of their totes (the most purchases Lands' End item) and an overall trend towards personalization and embellishment, to capture a younger customer and drive multiple item purchases.For June, the focus remains on swimwear (now at 50% off), and great new looks for the Lands'; End summer lifestyle, from a new linen collection, dresses, the emerging swim dress category and fitted tops and cotton sweaters.

LE: Snapping the Catalog: Tote Girls Rule; Reiterate Buy, $20 PT

<ul><li>We are reducing our price target to $23 (from $29.00) and projections for Guess?</li><li>after the company reported below consensus 3QFY25 results and materially reduced expectations for 4Q, as the domestic retail division continued to struggle, the strengthening US Dollar was a drag and Guess?</li><li>feels the impact of higher freight costs, particularly in Europe.</li></ul>

We are reducing our price target to $23 (from $29.00) and projections for Guess?after the company reported below consensus 3QFY25 results and materially reduced expectations for 4Q, as the domestic retail division continued to struggle, the strengthening US Dollar was a drag and Guess?feels the impact of higher freight costs, particularly in Europe.

GES: 3Q Review: NT Sinks GES Again; Cutting PT to $23 (from $29), Projections

United States

Guess?, Inc. designs, markets, distributes, and licenses a collection of casual apparel, accessories, and related consumer products.  The Company's apparel for men, women, and girls are marketed under branded names.  Guess? provides full collections of denim and cotton clothing and has granted licenses to manufacture complementary products.

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Guess? Inc (GES US)

GES: 2025 Signposts: Proving Nay Sayers Wrong; Reiterate Buy Rating, $23 PT

We are reiterating our Buy rating, $23 price target and projections for Guess? as we look forward to 2025. We believe, after their first...

Small Cap Consumer Research

GES: Snapping the Store: All Dressed Up; Reiterate Buy, $23 PT

We are reiterating our Buy rating, $23 price target and projections for Guess? after visiting stores in the Metro New York City and Long...

Small Cap Consumer Research

Guess? Inc.: The Role of Rag & Bone Acquisition & Other Major Drivers

Guess, Inc. reported its third-quarter fiscal 2025 results amidst several positive strides and challenges. The company's revenue grew by 13% to...

Baptista Research

LE: Snapping the Catalog: Tote Girls Rule; Reiterate Buy, $20 PT

We are reiterating our Buy rating, $20 price target and projections for Lands' End as we review the June catalog. Picking up on a theme from last...

Small Cap Consumer Research

GES: 3Q Review: NT Sinks GES Again; Cutting PT to $23 (from $29), Projections

We are reducing our price target to $23 (from $29.00) and projections for Guess? after the company reported below consensus 3QFY25 results and...

Small Cap Consumer Research

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