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We are reiterating our Buy rating, $10 price target and projections for Vera Bradley after visiting stores in Connecticut and Long Island. As expected, with the implementation of the "New Day" program to completely shift the chain to management's vision in July nearing, we are already seeing material changes, with an emphasis on reducing categories and clearing in-store goods aggressively to make way for a completely new look in the mainline and outlet stores. Further, product newness flows have
Companies: VRA TPR TPR VRA
Small Cap Consumer Research LLC
We are reiterating our Buy rating, $10 price target and projections for Vera Bradley after visiting stores in Connecticut and Long Island. We believe, as we near the launch of management's full vision for Vera Bradley in July, both the outlets and main line locations increasingly reflect what is being added and what will be discarded in the shift. As such, we are seeing less inventory, especially in the outlet stores, flow in; further, there is an increasing emphasis on core categories, especial
We are reiterating our Buy rating, $10 price target, lowering our FY25 projections and rolling out a return to growth in FY26 after Vera Bradley announced slightly below consensus 4QFY24 results and rolled out initial FY25 guidance which we believe could prove conservative in the second half as the company launches the new Vera Bradley and Pura Vida under operation New Day in mid-July. As such, and with VRA registering cash per share of over $2.50 (with no debt) and tangible book value per share
We are reiterating our Buy rating, $10 price target and projections for Vera Bradley with the company reporting 4QFY24 (January) results before the open next Wednesday. We look to the 4Q call for management to provide even more detail on the material changes to the company, as CEO Jackie Ardrey and her team begin to take full control of the shopping and product experience. We believe Vera Bradley has become increasingly more relevant and appealing to a wider customer base, and the company is pos
We are reiterating our Buy rating, projections and $10 price target for Vera Bradley after visiting stores in Connecticut and Long Island. We believe, post Holidays, Vera Bradley has further strengthened the overall main line store offerings, with new displays, expansion of key product categories and new Beach patterns. At the outlet stores, some of the shifts at the main line stores have already resonated, and we believe more material shifts are under way. We believe management is setting up fo
We are reiterating our Buy rating, $10 price target and projections for Vera Bradley after visiting stores in Long Island and Connecticut. We believe, after a solid Holiday, Vera Bradley management has adopted two tracks: 1) aggressively clearing older goods at both the full price and outlets stores, including material levels of goods from the back room and 2) providing hints of the upcoming beach/Spring collection for February. Further, the Valentine's Day capsule collection looks strong, leath
We are reiterating our Buy rating, $10 price target and projections for Vera Bradley as we look towards 2024. We believe management, under CEO Jacqueline Ardrey (who joined in November 2022), have continued to reshape the Vera Bradley experience, creating a simpler to shop store, easier to understand pricing, a focus on silhouettes (as opposed to fabrics), and have continued to hone the category mix to focus on items where the company can provide material added value. Further, we have seen the r
We are reiterating our Buy rating, projections and $10 price target after visiting Vera Bradley stores in Connecticut and Long Island. We believe the company has continued to evolve Vera Bradley offerings and promotions, driving earlier consumer spending and allowing the company to become increasingly more strategic as the Holiday season rolls ahead. Further, with a compelling series of collaboration driven items, new fabrics (leather) and looks and a materially more returns-driven series of pro
We are reiterating our Buy rating, raising our price target for VRA to $10 (from $9) and slightly lowering our top and bottom line projections for Vera Bradley after the company handily beat Street EPS for 3Q (while revenues were below expectations). Further, implied 4Q guidance was below expectations, as we believe management has remained somewhat conservative as we enter the heart of the Holiday selling season. That said, with inventories materially lower, cash balances (and no debt) continuin
We are reiterating our Buy rating, $9 price target and projections for Vera Bradley with the company reporting 3QFY24 (October) results before the open on Wednesday. We believe management, under CEO Jacqueline Ardrey, has continued to streamline and upgrade the shopping experience at Vera Bradley, allowing for easier purchasing and for consumers to better understand the overall utility and value of the Vera Bradley product, whether it is backpacks (and lunch boxes) for the key back-to-campus sea
Companies: VERA BRADLEY (VRA:NYSE)Vera Bradley, Inc. (VRA:NAS)
We are reiterating our Buy rating, $9 price target and projections for Vera Bradley after touring stores in Connecticut and Long Island. We believe, with a focus on streamlining the shopping experience, continued flows of newness and licensed materials, including the first collection from Pixar (Toy Story), the return of key favorites and a rising de-emphasis on non-core categories and offerings, Vera Bradley has continued to satisfy their core shoppers and is creating the potential to attract a
Research Tree provides access to ongoing research coverage, media content and regulatory news on VERA BRADLEY. We currently have 11 research reports from 1 professional analysts.
Surface Transforms (SCE) has announced the raising of £6.5m new equity and is launching an Open Offer to shareholders. It is raising capacity and quarterly revenue but has needed to address the two sets of production constraints it faced: scrappage and process-line pinch points. Pinch points have been much reduced through capital expenditure and expert maintenance teams. Major capital expenditure is ongoing and unaffected by the fund raise. The scrappage from the fast ramping up of volumes is re
Companies: Surface Transforms PLC
Hardman & Co
FY24 performance reflects decisive action in a challenging market: Gross merchandise value (GMV) of £1,809m is down 13% YOY, driven by lower sales in brands, partly offset by growth in the Debenhams marketplace.
Companies: boohoo group Plc
Zeus Capital
Companies: Frontier Developments Plc
Liberum
The company expects Adjusted EBITDA to be above expectations due to strong game portfolio performance, positive sales mix towards own-IP and effective cost management.
Companies: 88E MTC TIA DEC ULTP
Cavendish
Character Group traded satisfactorily in the first half, even though pressure on consumer expenditure continued to create challenging trading conditions. The Group was able to deliver a robust performance while enjoying a solid balance sheet and strong cash generation. Given the encouraging first half performance and the Group’s continued resilience, the Board expects that adjusted PBT will exceed market expectations. Consequently, we have increased our PBT forecast by 10% and continue to view t
Companies: Character Group plc
Allenby Capital
Companies: Eden Research plc (EDEN:LON)Solid State plc (SOLI:LON)
Companies: CPX PHC PIER
Please find below our weekly update covering themes that we feel that are of interest to investors and participants in the small and mid-cap TMT sector as well as commentary on recent newsflow.
Companies: CPX CNC TRAK CLCO TERN MWE
Surface Transforms has announced a Placing and Subscription seeking £6.5m at 1p, combined with an Open Offer for up to £2m (before expenses). Proceeds will be used for working capital for existing operations and to support the manufacturing scale-up. We introduce summary estimates pending the outcome of the entire fundraising event (including the Open Offer) and the full outturn statement for 2023a due in late May. Our base case assumption is for revenue of £17.5m in 2024e (2023a: £8.3m); this c
SCE has announced its intention to raise £6.5m via an institutional placing, with an open offer pending, to assist the scale-up and to fund near-term working capital requirements. We reduce our forecasts to factor in base case assumptions and greater prudence to expectations. Our FY24E adj pre-tax loss rises by £3.9m to a loss of £6.9m, increasing LPS from -0.6p to -0.9p. The placing should provide sufficient cash runway and some headroom through to EBITDA profitability, anticipated throughout F
Companies: IG Design Group plc
Canaccord Genuity
Sanderson Design Group (SDG) has announced its FY24 full-year results, which are in line with the headline figures from its February trading update. A record year for Licensing and a strong performance in the key North America market helped to offset a challenging consumer environment in other geographies, most notably the UK. While this backdrop is set to persist in FY25E, the group will continue to focus on its strategic growth drivers, notably North America and Licensing, to deliver sharehold
Companies: Sanderson Design Group PLC
Progressive Equity Research
IG Design Group’s trading update for the year ended 31 March 2024 has exceeded market expectations in terms of both profitability and, most significantly, cash generation. The FY24 results confirm the progress the group has made on its strategic journey to simplify the business and improve operational efficiency. Notwithstanding ongoing uncertainty on the economic backdrop and consumer expenditure, the group remains confident of delivering its target of returning to its pre-Covid adjusted operat
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