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

<ul><li>We are reiterating our Buy rating, $58 price target and projections for Build-A-Bear Workshop as we look ahead to 2025.</li><li>After a series of records in 2024, driven by continued product innovation, third party/international franchisee store expansion, subtle shifts in the owned store base and further operating improvements, we believe Build-A-Bear is poised to drive even higher overall returns (already among the best in specialty retailing) and remain among the key leaders in experiential retailing; even after reaching all-time highs in 2024, we believe BBW, trading at 11.2 our FY25 EPS, remains undervalued, and we reiterate our Buy rating and $58 price target.</li></ul>

We are reiterating our Buy rating, $58 price target and projections for Build-A-Bear Workshop as we look ahead to 2025.After a series of records in 2024, driven by continued product innovation, third party/international franchisee store expansion, subtle shifts in the owned store base and further operating improvements, we believe Build-A-Bear is poised to drive even higher overall returns (already among the best in specialty retailing) and remain among the key leaders in experiential retailing; even after reaching all-time highs in 2024, we believe BBW, trading at 11.2 our FY25 EPS, remains undervalued, and we reiterate our Buy rating and $58 price target.

BBW: 2025 Signposts: Drivers Apparent; Reiterate Buy Rating, $58 Price Target

Build A Bear Workshop

BBW: 2025 Signposts: Drivers Apparent; Reiterate Buy Rating, $58 Price Target