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, $5.50 price target and projections for Vera Bradley after visiting stores in Connecticut and Long Island.</li><li>For the main line stores, Spring has seen material positive shifts, from a collection of Heritage driven items, subtle shifts in straps, zippers and pockets (which  we believe have made a highly material difference) and the return of winning fashion trends such as beading; we believe the response from consumers has been a positive.</li><li>For the outlets, management is testing different strategies from new pricing to lower inventories to revive growth; the launch of a outlet only Snoopy collection should be a plus.</li></ul>

We are reiterating our Buy rating, $5.50 price target and projections for Vera Bradley after visiting stores in Connecticut and Long Island.For the main line stores, Spring has seen material positive shifts, from a collection of Heritage driven items, subtle shifts in straps, zippers and pockets (which  we believe have made a highly material difference) and the return of winning fashion trends such as beading; we believe the response from consumers has been a positive.For the outlets, management is testing different strategies from new pricing to lower inventories to revive growth; the launch of a outlet only Snoopy collection should be a plus.

VRA: Snapping the Store: Spring a Step Forward; Reiterate Buy, $5.50 PT