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, price target and projections for Lands' End with the company announcing 1QFY25 (April) results before the open on Thursday.</li><li>We believe in the key tenets of the Lands' Ends story, from: 1) lowering discounting (and inventory); 2) shifting the product and customer mix to a younger, more fashion driven buyer who will purchase multi-item offerings; 3) expanding and shifting the product mix with higher-margin licensed categories; 4) continuing to expand the online marketplace offerings; 5) leveraging the company's strong brand and ability to quickly respond to capture more business services contracts and 6) growing the international business via owned and licensed offerings.</li><li>That said, even before tariffs, the optics of 2025, with increased levels of licensed goods, would make this year a period of transition.</li></ul>

We are reiterating our Buy rating, price target and projections for Lands' End with the company announcing 1QFY25 (April) results before the open on Thursday.We believe in the key tenets of the Lands' Ends story, from: 1) lowering discounting (and inventory); 2) shifting the product and customer mix to a younger, more fashion driven buyer who will purchase multi-item offerings; 3) expanding and shifting the product mix with higher-margin licensed categories; 4) continuing to expand the online marketplace offerings; 5) leveraging the company's strong brand and ability to quickly respond to capture more business services contracts and 6) growing the international business via owned and licensed offerings.That said, even before tariffs, the optics of 2025, with increased levels of licensed goods, would make this year a period of transition.

LE: 1Q Preview: Being Creative in Uncertain Times; Reiterate Buy, $20 PT

Lands' End Inc

LE: 1Q Preview: Being Creative in Uncertain Times; Reiterate Buy, $20 PT