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

Small Cap Consumer Research

Equity research on small cap consumer names.

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

aka Brands Holding Corp / Equity Bottom-Up

<ul><li>We are reiterating our Buy rating, $30 price target and projections for a.k.a. Brands as we look at key trends for 2HFY25 and beyond.</li><li>We believe, perhaps due to tariff worries or limited trading volume or unfamiliarity with the company's brands, investors are missing what is emerging as one of the few organic (and, in our view, compelling) growth stories in specialty apparel retailing.</li><li>a.k.a. Brands management has, via the launch of Princess Polly retail locations, material wholesale expansion for both the Petal & Pup and Princess Polly brands, a renaissance at Culture Kings with an emphasis on the "test and repeat" model and a return to economic growth in the material Australian market, positioned a.k.a. Brands for material top line growth (and upside) and the potential to capture material operating leverage; we view these catalysts as significant multi-year drivers.</li></ul>

We are reiterating our Buy rating, $30 price target and projections for a.k.a. Brands as we look at key trends for 2HFY25 and beyond.We believe, perhaps due to tariff worries or limited trading volume or unfamiliarity with the company's brands, investors are missing what is emerging as one of the few organic (and, in our view, compelling) growth stories in specialty apparel retailing.a.k.a. Brands management has, via the launch of Princess Polly retail locations, material wholesale expansion for both the Petal & Pup and Princess Polly brands, a renaissance at Culture Kings with an emphasis on the "test and repeat" model and a return to economic growth in the material Australian market, positioned a.k.a. Brands for material top line growth (and upside) and the potential to capture material operating leverage; we view these catalysts as significant multi-year drivers.

AKA: 2H Signposts: The Ignored Growth Story; Reiterate Buy Rating and $30 PT