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 Hold rating and projections for Guess?</li><li>after visiting stores in the Metropolitan New York City and Long Island regions.</li><li>Guess?</li></ul>

We are reiterating our Hold rating and projections for Guess?after visiting stores in the Metropolitan New York City and Long Island regions.Guess?

GES: Snapping the Store: Building Up For Fall; Reiterate Hold

<ul><li>We are reiterating our Hold rating and projections for Guess?</li><li>after visiting stores in the Metropolitan New York City and New Jersey areas.</li><li>As we have seen throughout 2025, Guess?</li></ul>

We are reiterating our Hold rating and projections for Guess?after visiting stores in the Metropolitan New York City and New Jersey areas.As we have seen throughout 2025, Guess?

GES: Snapping the Store: Taking the Transition Slow; Reiterate Hold Rating

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>Lululemon Athletica Inc. reported its second-quarter fiscal 2025 results, highlighting both triumphs and challenges faced amidst a dynamic retail environment.</li><li>The period saw Lululemon exceed earnings per share (EPS) projections; however, it fell short on revenue guidance, resulting in a downward revision of full-year revenue and earnings expectations.</li><li>The company's resilience in international markets, driven particularly by robust growth in China, was notable, yet the U.S. segment underperformed amid a challenging premium athletic wear market landscape.</li></ul>

Lululemon Athletica Inc. reported its second-quarter fiscal 2025 results, highlighting both triumphs and challenges faced amidst a dynamic retail environment.The period saw Lululemon exceed earnings per share (EPS) projections; however, it fell short on revenue guidance, resulting in a downward revision of full-year revenue and earnings expectations.The company's resilience in international markets, driven particularly by robust growth in China, was notable, yet the U.S. segment underperformed amid a challenging premium athletic wear market landscape.

Lululemon Athletica: Strengthening Supply Chain Agility to Sustain Market Competitiveness & Growth!

<ul><li>We are lowering our rating to Hold (from Buy), suspending our price target and tweaking our FY26 and FY27 projections higher after Guess?</li><li>provided further evidence why management and Authentic Brands want to take the company private in their 2QFY26 (July) results.</li><li>2Q registered top line growth of 6%, handily beating the Street and management guidance, as Europe has remained a key winner (+11% same store sales) and domestic retail provided further evidence, while slow, the turn is coming, with domestic comps of -5% the best in six quarters.</li></ul>

We are lowering our rating to Hold (from Buy), suspending our price target and tweaking our FY26 and FY27 projections higher after Guess?provided further evidence why management and Authentic Brands want to take the company private in their 2QFY26 (July) results.2Q registered top line growth of 6%, handily beating the Street and management guidance, as Europe has remained a key winner (+11% same store sales) and domestic retail provided further evidence, while slow, the turn is coming, with domestic comps of -5% the best in six quarters.

GES: 2Q Review: Showing Why Mgmt. Buying Company; Moving to Hold (from Buy)

<ul><li>We are reiterating our projections and Buy rating and lowering our price target on GES to $16.75 (from $23.00) after the company announced an agreement with Authentic Brands, Maurice and Paul Marciano and Guess?</li><li>Chief Executive Officer Carlos Alberini to acquire Guess?</li><li>for $16.75 per GES share, a valuation for the company of $1.4 billion.</li></ul>

We are reiterating our projections and Buy rating and lowering our price target on GES to $16.75 (from $23.00) after the company announced an agreement with Authentic Brands, Maurice and Paul Marciano and Guess?Chief Executive Officer Carlos Alberini to acquire Guess?for $16.75 per GES share, a valuation for the company of $1.4 billion.

GES: To Be Acquired by Authentic, Marciano Family and CEO for $16.75/GES Share

United States

lululemon athletica Inc. designs and retails athletic clothing.  The Company produces fitness pants, shorts, tops and jackets for yoga, dance, running, and general fitness. lululemon serves customers throughout the world.

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Lululemon Athletica (LULU US)

GES: Snapping the Store: Building Up For Fall; Reiterate Hold

We are reiterating our Hold rating and projections for Guess? after visiting stores in the Metropolitan New York City and Long Island...

Small Cap Consumer Research

GES: Snapping the Store: Taking the Transition Slow; Reiterate Hold Rating

We are reiterating our Hold rating and projections for Guess? after visiting stores in the Metropolitan New York City and New Jersey areas. As we...

Small Cap Consumer Research

Lululemon Athletica: Strengthening Supply Chain Agility to Sustain Market Competitiveness & Growth!

Lululemon Athletica Inc. reported its second-quarter fiscal 2025 results, highlighting both triumphs and challenges faced amidst a dynamic retail...

Baptista Research

GES: 2Q Review: Showing Why Mgmt. Buying Company; Moving to Hold (from Buy)

We are lowering our rating to Hold (from Buy), suspending our price target and tweaking our FY26 and FY27 projections higher after Guess? provided...

Small Cap Consumer Research

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GES: Snapping the Store: Building Up For Fall; Reiterate Hold

We are reiterating our Hold rating and projections for Guess? after visiting stores in the Metropolitan New York City and Long Island...

Small Cap Consumer Research

GES: Snapping the Store: Taking the Transition Slow; Reiterate Hold Rating

We are reiterating our Hold rating and projections for Guess? after visiting stores in the Metropolitan New York City and New Jersey areas. As we...

Small Cap Consumer Research

Lululemon Athletica: Strengthening Supply Chain Agility to Sustain Market Competitiveness & Growth!

Lululemon Athletica Inc. reported its second-quarter fiscal 2025 results, highlighting both triumphs and challenges faced amidst a dynamic retail...

Baptista Research

GES: 2Q Review: Showing Why Mgmt. Buying Company; Moving to Hold (from Buy)

We are lowering our rating to Hold (from Buy), suspending our price target and tweaking our FY26 and FY27 projections higher after Guess? provided...

Small Cap Consumer Research

GES: To Be Acquired by Authentic, Marciano Family and CEO for $16.75/GES Share

We are reiterating our projections and Buy rating and lowering our price target on GES to $16.75 (from $23.00) after the company announced an...

Small Cap Consumer Research