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, projections and $4 price target for Vince after visiting stores in Connecticut, Long Island and New Jersey.</li><li>With over 60% of Vince's cost of goods sold represented by China exports, and a material reduction not in play until the Pre-Spring (Winter) 2025 collection, we are in a somewhat in-between period where the company has both pre and post-tariff goods (and potentially some with 100%+ tariffs and the new 30% rate).</li><li>As such, Vince must balance consumer demand for newness and continued fashion excitement with the potential for material price increases or limiting the level of overall offerings until they can diversify the supply chain.</li></ul>

We are reiterating our Buy rating, projections and $4 price target for Vince after visiting stores in Connecticut, Long Island and New Jersey.With over 60% of Vince's cost of goods sold represented by China exports, and a material reduction not in play until the Pre-Spring (Winter) 2025 collection, we are in a somewhat in-between period where the company has both pre and post-tariff goods (and potentially some with 100%+ tariffs and the new 30% rate).As such, Vince must balance consumer demand for newness and continued fashion excitement with the potential for material price increases or limiting the level of overall offerings until they can diversify the supply chain.

VNCE: Snapping the Store: Navigating Tariff Driven Summer Waters; Reiterate Buy, $4 PT

Vince Holding

VNCE: Snapping the Store: Navigating Tariff Driven Summer Waters; Reiterate Buy, $4 PT