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 and $30 price target for a.k.a. Brands Holding and tweaking our 3Q25 projections after meeting with management in their San Francisco headquarters.</li><li>While virtually all of our apparel players have been impacted by tariffs, we believe a.k.a., due to the need for continual flows of new products to drive momentum (and full price sales), has been somewhat more impacted than most.</li><li>Further, as the company has reworked their supply chain "on the fly," there were natural teething pains which we believe have impacted 3Q25.</li></ul>

We are reiterating our Buy rating and $30 price target for a.k.a. Brands Holding and tweaking our 3Q25 projections after meeting with management in their San Francisco headquarters.While virtually all of our apparel players have been impacted by tariffs, we believe a.k.a., due to the need for continual flows of new products to drive momentum (and full price sales), has been somewhat more impacted than most.Further, as the company has reworked their supply chain "on the fly," there were natural teething pains which we believe have impacted 3Q25.

AKA: Mgmt. Meetings: Tariff Frustration Real; Reiterate Buy, $30 PT