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, $10 price target and projections for Vera Bradley after the company completed their New Day relaunch with changes to the outlet store channel yesterday.</li><li>With outlet locations representing approximately 65% of the company's stores, the channel is a crucial piece of the company's business model.</li><li>Unlike the complete makeover experienced by the company's main line stores, we view the shifts at the Vera Bradley outlets, which include new signage, launch of faux leather lines, a collection of Disney offerings specifically made for the outlet channel and lesser dependence on apparel, as more evolutionary and, frankly, able to drive stronger results for the outlet channel almost immediately.</li></ul>

We are reiterating our Buy rating, $10 price target and projections for Vera Bradley after the company completed their New Day relaunch with changes to the outlet store channel yesterday.With outlet locations representing approximately 65% of the company's stores, the channel is a crucial piece of the company's business model.Unlike the complete makeover experienced by the company's main line stores, we view the shifts at the Vera Bradley outlets, which include new signage, launch of faux leather lines, a collection of Disney offerings specifically made for the outlet channel and lesser dependence on apparel, as more evolutionary and, frankly, able to drive stronger results for the outlet channel almost immediately.

VRA: Snapping the Store: New Day for the Outlets, Reiterate Buy, $10 PT

<ul><li>We are reiterating our Buy rating, $10 price target and projections for Vera Bradley after visiting Long Island and Connecticut Vera Bradley locations.</li><li>With the launch of the New Day on July 11th, Vera Bradley entered a new era for their main line stores, with new fabrics, new looks, lighter and brighter fixtures, a new logo and a new spokesperson (Zooey Deschanel).</li><li>When the shock of the new has passed, the look and offerings are impressive and, we believe, when fully launched, will satisfy both the traditional Vera Bradley shopper looking for exciting patterns and features and drive new, younger customers that will be attracted to the compelling fashion, combinations, colors and versatility of the offerings.</li></ul>

We are reiterating our Buy rating, $10 price target and projections for Vera Bradley after visiting Long Island and Connecticut Vera Bradley locations.With the launch of the New Day on July 11th, Vera Bradley entered a new era for their main line stores, with new fabrics, new looks, lighter and brighter fixtures, a new logo and a new spokesperson (Zooey Deschanel).When the shock of the new has passed, the look and offerings are impressive and, we believe, when fully launched, will satisfy both the traditional Vera Bradley shopper looking for exciting patterns and features and drive new, younger customers that will be attracted to the compelling fashion, combinations, colors and versatility of the offerings.

VRA: Snapping the Store: New Day Arrives; Reiterate Buy Rating, $10 PT

<ul><li>We are reiterating our Buy rating, $25 price target and projections for Vera Bradley as we look forward to 2H24.</li><li>Not surprisingly, our focus is on the start of the New Day, which is the relaunch of the company's main line stores to reflect management's vision, scheduled for July 11th, and the associated shifts for the company's outlet locations in August.</li><li>We believe this shift, which will impact all pieces of the store (and online) shopping experience, represents a bold move by management to fundamentally change the Vera Bradley shopping experience, making it more relevant to a wider range of consumers, easier to shop and offering both the pattern driven and feature driven shoppers compelling choices.</li></ul>

We are reiterating our Buy rating, $25 price target and projections for Vera Bradley as we look forward to 2H24.Not surprisingly, our focus is on the start of the New Day, which is the relaunch of the company's main line stores to reflect management's vision, scheduled for July 11th, and the associated shifts for the company's outlet locations in August.We believe this shift, which will impact all pieces of the store (and online) shopping experience, represents a bold move by management to fundamentally change the Vera Bradley shopping experience, making it more relevant to a wider range of consumers, easier to shop and offering both the pattern driven and feature driven shoppers compelling choices.

VRA; 2H Signposts; All About the "New Day;" Reiterate Buy Rating, $10 PT

Research from Water Tower Research, Water Tower Research

Water Tower Research

Research from Water Tower Research

Water Tower Research is a leading equity research firm that provides research on micro, small and mid cap companies.

Water Tower Research was founded by Wall Street veterans after witnessing a fundamental shift in the investment research industry with the result being a declining knowledge base among investors, a lack of awareness and a shrinking pool of fundamental research being conducted on companies across the small-cap and micro-cap spectrum. The same issues are now increasingly occurring in the mid-cap space. This sea change within the investment community is impacting not only the companies themselves but also current shareholders and potential investors. With significantly less active sell-side sponsorship by Wall Street, a substantial information gap has developed between companies and various constituents in the financial community. The net result is fewer channels for insight and information to flow between companies and investors.

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<ul><li>Many of the companies that participated in our recent Consumer Products Virtual Investor Conference have been working hard in righting the ship following the post- pandemic hangover that a lot of consumer names have suffered through.</li><li>There were several new management teams with new strategies, and a lot of talk about inflection points.</li><li>Vera Bradley’s CEO, CFO, and CMO have each been there for less than two years, and the company is about to roll out its Project Restoration strategic initiatives next month, which management believes will take the company into the third <span style="font-size: var(--content-font-size);">major stage of its lifecycle.</span></li></ul>

Many of the companies that participated in our recent Consumer Products Virtual Investor Conference have been working hard in righting the ship following the post- pandemic hangover that a lot of consumer names have suffered through.There were several new management teams with new strategies, and a lot of talk about inflection points.Vera Bradley’s CEO, CFO, and CMO have each been there for less than two years, and the company is about to roll out its Project Restoration strategic initiatives next month, which management believes will take the company into the third major stage of its lifecycle.

Consumer Products Conference Recap - June 20, 2024

<ul><li>We are reiterating our Buy rating.</li><li>$10 price target and projections for Vera Bradley after visiting stores in Long Island and Connecticut.</li><li>With the soft launch of "New Day" set for July 11th (and formal premier on July 15th, June is, with one major exception, a month for the stores to clear goods and prepare for the new offerings; replenishment has been placed on hold and the end-of-season sales have been moved up to drive lower inventories and reduce the stresses from rolling out new looks at the main line stores and shifting older goods to the outlets.</li></ul>

We are reiterating our Buy rating.$10 price target and projections for Vera Bradley after visiting stores in Long Island and Connecticut.With the soft launch of "New Day" set for July 11th (and formal premier on July 15th, June is, with one major exception, a month for the stores to clear goods and prepare for the new offerings; replenishment has been placed on hold and the end-of-season sales have been moved up to drive lower inventories and reduce the stresses from rolling out new looks at the main line stores and shifting older goods to the outlets.

VRA: Snapping the Store: The Calm before the "New Day;" Reiterate Buy, $10 PT

United States

Vera Bradley, Inc. designs, produces and retails fashion accessories for women. The Company markets handbags, accessories and travel and leisure items through its chain of retail stores and independent retailers.

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Vera Bradley (VRA US)

VRA: Snapping the Store: New Day for the Outlets, Reiterate Buy, $10 PT

We are reiterating our Buy rating, $10 price target and projections for Vera Bradley after the company completed their New Day relaunch with...

Small Cap Consumer Research

VRA: Snapping the Store: New Day Arrives; Reiterate Buy Rating, $10 PT

We are reiterating our Buy rating, $10 price target and projections for Vera Bradley after visiting Long Island and Connecticut Vera Bradley...

Small Cap Consumer Research

VRA; 2H Signposts; All About the "New Day;" Reiterate Buy Rating, $10 PT

We are reiterating our Buy rating, $25 price target and projections for Vera Bradley as we look forward to 2H24. Not surprisingly, our focus is on...

Small Cap Consumer Research

Consumer Products Conference Recap - June 20, 2024

Many of the companies that participated in our recent Consumer Products Virtual Investor Conference have been working hard in righting the ship...

Water Tower Research

VRA: Snapping the Store: The Calm before the "New Day;" Reiterate Buy, $10 PT

We are reiterating our Buy rating. $10 price target and projections for Vera Bradley after visiting stores in Long Island and Connecticut. With...

Small Cap Consumer Research

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