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, with the company announcing 4QFY24 (January) results on Wednesday before the open.</li><li>We believe, with impressive owned store results during the Holidays and the new third party locations becoming an increasingly higher piece of the overall profitability of the business, Build-A-Berar is poised for strong 4Q results and potential top and bottom line upside.</li><li>Further, with the company enjoying a strong Valentine's Day season and the Spring calendar materially more favorable, we believe management will be positive for FY25.</li></ul>

We are reiterating our Buy rating, $58 price target and projections for Build-A-Bear Workshop, with the company announcing 4QFY24 (January) results on Wednesday before the open.We believe, with impressive owned store results during the Holidays and the new third party locations becoming an increasingly higher piece of the overall profitability of the business, Build-A-Berar is poised for strong 4Q results and potential top and bottom line upside.Further, with the company enjoying a strong Valentine's Day season and the Spring calendar materially more favorable, we believe management will be positive for FY25.

BBW: 4Q Review: Tariffs Slow, But do not Deny, a Compelling Business Model

Build A Bear Workshop

BBW: 4Q Review: Tariffs Slow, But do not Deny, a Compelling Business Model