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).

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<ul><li>We are reiterating our Buy rating, $20 price target and projections for Lands' End after reviewing the October catalog.</li><li>We believe, with the onset of the crucial outerwear period, Lands' End is well-prepared to highlight their increased focused on technology, new products and exciting fashion-driven items to increase the customer base, and register lower discounting levels and even higher overall returns.</li><li>Further, we believe management has become increasingly nimble in flowing more wear now items and capturing further share of wallet.</li></ul>

We are reiterating our Buy rating, $20 price target and projections for Lands' End after reviewing the October catalog.We believe, with the onset of the crucial outerwear period, Lands' End is well-prepared to highlight their increased focused on technology, new products and exciting fashion-driven items to increase the customer base, and register lower discounting levels and even higher overall returns.Further, we believe management has become increasingly nimble in flowing more wear now items and capturing further share of wallet.

LE: Snapping the Catalog; Busting Out for Fall; Reiterate Buy, $20 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>Levi Strauss & Company recently conducted their third quarter fiscal 2024 earnings call, unveiling results that presented a mixed picture with both strengths and areas for improvement.</li><li>During the quarter, the company saw a net revenue increase of 2% in constant currency and 3% when adjusting for the exit from the Denizen business.</li><li>This growth was primarily driven by a 5% increase in the Levi's brand globally, marking its best quarterly growth in two years.</li></ul>

Levi Strauss & Company recently conducted their third quarter fiscal 2024 earnings call, unveiling results that presented a mixed picture with both strengths and areas for improvement.During the quarter, the company saw a net revenue increase of 2% in constant currency and 3% when adjusting for the exit from the Denizen business.This growth was primarily driven by a 5% increase in the Levi's brand globally, marking its best quarterly growth in two years.

Levi Strauss & Co.: Expansion of Direct-to-Consumer (DTC) & Digital Initiatives & Other Major Drivers

<ul><li>We are reiterating our Buy rating, projections and $20 price target for Lands' End after visiting the company's European headquarters in Oakham, United Kingdom and meeting with management.</li><li>We believe, with operations overwhelmingly focused on the United Kingdom and German consumer, there remains multiple growth opportunities, from new categories, expansion into Europe-only looks, lower discounting and continuing to upgrade the customer mix to more lifestyle and features, rather than pricing, driven.</li><li>Further, with Europe taking the lead in terms of quicker buys and reacting/setting fashion trends, they will increasingly have a roll in setting the product pace for the United States operations.</li></ul>

We are reiterating our Buy rating, projections and $20 price target for Lands' End after visiting the company's European headquarters in Oakham, United Kingdom and meeting with management.We believe, with operations overwhelmingly focused on the United Kingdom and German consumer, there remains multiple growth opportunities, from new categories, expansion into Europe-only looks, lower discounting and continuing to upgrade the customer mix to more lifestyle and features, rather than pricing, driven.Further, with Europe taking the lead in terms of quicker buys and reacting/setting fashion trends, they will increasingly have a roll in setting the product pace for the United States operations.

LE: European Tour: Creating a New Vision; Reiterate Buy, $20 PT

<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

<ul><li>We are reiterating our Buy rating, $20 price target and projections with Lands' End announcing 2QFY24 (July) results before the open on Thursday.</li><li>We believe Lands' End management, under CEO Andrew McLean has continued to refocus the company on driving higher returns via lower discounting, fashion and product newness and innovation, reduced overall inventories and licensing non-core categories and relationships.</li><li>When combined with an increased emphasis on core winning categories such as swimwear and women's bottoms in 2Q and shifting to outerwear in 2H, we believe Lands' End is well positioned to drive near and longer term upside, and register returns we believe investors will find compelling.</li></ul>

We are reiterating our Buy rating, $20 price target and projections with Lands' End announcing 2QFY24 (July) results before the open on Thursday.We believe Lands' End management, under CEO Andrew McLean has continued to refocus the company on driving higher returns via lower discounting, fashion and product newness and innovation, reduced overall inventories and licensing non-core categories and relationships.When combined with an increased emphasis on core winning categories such as swimwear and women's bottoms in 2Q and shifting to outerwear in 2H, we believe Lands' End is well positioned to drive near and longer term upside, and register returns we believe investors will find compelling.

LE: 2Q Preview; Momentum Continues to Build; Reiterate Buy, $20 PT

United States

Levi Strauss & Co. manufactures and distributes apparels. The Company offers jeans, casual pants, tops, jackets, shirts, and other related products. Levi Strauss serves customers worldwide.

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Levi Strauss & Co (LEVI US)

LE: Snapping the Catalog; Busting Out for Fall; Reiterate Buy, $20 PT

We are reiterating our Buy rating, $20 price target and projections for Lands' End after reviewing the October catalog. We believe, with the onset...

Small Cap Consumer Research

Levi Strauss & Co.: Expansion of Direct-to-Consumer (DTC) & Digital Initiatives & Other Major Drivers

Levi Strauss & Company recently conducted their third quarter fiscal 2024 earnings call, unveiling results that presented a mixed picture with...

Baptista Research

LE: European Tour: Creating a New Vision; Reiterate Buy, $20 PT

We are reiterating our Buy rating, projections and $20 price target for Lands' End after visiting the company's European headquarters in Oakham,...

Small Cap Consumer Research

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

We are reiterating our Buy rating and $20 price target for Lands' End and raising our FY24 and FY25 projections after the company registered...

Small Cap Consumer Research

LE: 2Q Preview; Momentum Continues to Build; Reiterate Buy, $20 PT

We are reiterating our Buy rating, $20 price target and projections with Lands' End announcing 2QFY24 (July) results before the open on...

Small Cap Consumer Research

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