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>after visiting stores in the Long Island and Metropolitan New York City regions.</li><li>As we have seen with Spring, Guess?</li></ul>

We are reiterating our Buy rating, $23 price target and projections for Guess?after visiting stores in the Long Island and Metropolitan New York City regions.As we have seen with Spring, Guess?

GES: Snapping the Store: Easing Into Fall; Reiterate Buy, $23.00 PT

<ul><li>We are reiterating our Buy rating, $23 price target and projections for Guess?</li><li>after visiting stores in the Metropolitan New York City region and Long Island.</li><li>With hotter temperatures incoming, Guess?</li></ul>

We are reiterating our Buy rating, $23 price target and projections for Guess?after visiting stores in the Metropolitan New York City region and Long Island.With hotter temperatures incoming, Guess?

GES: Snapping the Store: Hot Summer Trends at Guess?; Reiterate Buy, $23 PT

<ul><li>We are reiterating our Buy rating, $23 price target, and projections for Guess?</li><li>as we look at key trends for 2HFY26 and beyond.</li><li>GES, trading at 7.2X our FY26 EPS, has remained fully in "show me" mode with investors since the rag and bone acquisition (April 2024) and weakness in Guess?</li></ul>

We are reiterating our Buy rating, $23 price target, and projections for Guess?as we look at key trends for 2HFY26 and beyond.GES, trading at 7.2X our FY26 EPS, has remained fully in "show me" mode with investors since the rag and bone acquisition (April 2024) and weakness in Guess?

GES: 2H Signposts: Reproving the Model; Reiterate Buy, $23 PT

<ul><li>We are reiterating our Buy rating, $23 price target and projections for Guess?</li><li>after visiting stores in Long Island and the Metropolitan New York City area.</li><li>We believe Guess?</li></ul>

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

GES: Snapping the Store; Leveraging Summer Events, Denim; Reiterate Buy, $23 PT

Mostly Borrowed Ideas Deep Dives, MBI Deep Dives

MBI Deep Dives

Mostly Borrowed Ideas Deep Dives

MBI is the abbreviation for “Mostly Borrowed Ideas”. Why “Mostly Borrowed Ideas?” As a generalist, I do not have a background in any particular sector. I enjoy navigating across industries, businesses, and countries to learn, understand, and connect the dots. In any case, most ideas and innovations are incremental in nature. Very few of us are smart enough to come up with truly original or groundbreaking ideas. I am Abdullah Al-Rezwan. I was born and brought up in Bangladesh. I went to University of Dhaka for my undergrad and majored in Finance. After working three and half years in Equity Research (Sell-side) covering Financial Sector in Bangladesh, I left Bangladesh to pursue my MBA in the US. I graduated within top 10% of the class from Cornell University's two-year MBA program and worked on the buy-side following my graduation. During my time at Cornell, I won two stock pitch competitions and also became finalists in four other competitions. I thoroughly enjoyed my stint as a generalist in the US large cap team at Madison Investments and covered a wide range of companies from UnitedHealth to Amazon and Boeing before US immigration reality paused my career in investment management. As my work authorization expired, I moved to Canada in January, 2021. Then in early 2022, I was able to return to the US.

<ul><li>Lulu is again back to LSD growth in the US; what makes it more disappointing is they actually had a somewhat easier comparison since 1Q’24 growth was just 2%.</li><li>Canada, despite a low double digit growth in 1Q’24, again had higher growth than the US this quarter.</li><li>China and Rest of the World (RoW) maintained healthy growth rates but growth has materially decelerated. </li></ul>

Lulu is again back to LSD growth in the US; what makes it more disappointing is they actually had a somewhat easier comparison since 1Q’24 growth was just 2%.Canada, despite a low double digit growth in 1Q’24, again had higher growth than the US this quarter.China and Rest of the World (RoW) maintained healthy growth rates but growth has materially decelerated. 

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: Easing Into Fall; Reiterate Buy, $23.00 PT

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

Small Cap Consumer Research

GES: Snapping the Store: Hot Summer Trends at Guess?; Reiterate Buy, $23 PT

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

Small Cap Consumer Research

GES: 2H Signposts: Reproving the Model; Reiterate Buy, $23 PT

We are reiterating our Buy rating, $23 price target, and projections for Guess? as we look at key trends for 2HFY26 and beyond. GES, trading at...

Small Cap Consumer Research

GES: Snapping the Store; Leveraging Summer Events, Denim; Reiterate Buy, $23 PT

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

Small Cap Consumer Research

Lululemon 1Q'25 Update

Lulu is again back to LSD growth in the US; what makes it more disappointing is they actually had a somewhat easier comparison since 1Q’24 growth...

MBI Deep Dives

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