Tuesday, September 17, 2024
500 5th Avenue 20th Floor New York, NY 10110 United States Sector(s): Consumer Cyclical Industry: Apparel Manufacturing Full Time Employees: 599 Key Executives Name Title Pay Exercised Year Born Mr. Jonathan CEO & Director 825.62k N/A 1958 Ms. Marie Fogel Senior VP and Chief Merchandising & Manufacturing Officer 633.19k N/A 1961 Mr. John Chief Financial Officer
Michael Kupinski, Director of Research, Equity Research Analyst, Digital, Media & Technology , Noble Capital Markets, Inc.
Refer to the full report for the price target, fundamental analysis, and rating.
Fiscal Q2 overachieves expectations. Q2 revenues of $74.2 million were much better than our $68.5 million estimate and supported a “beat” in our adj. EBITDA estimate, a positive $2.4 million versus our adj. EBITDA loss estimate of $1.5 million. The largest portion of the variance was due to timing of wholesale order shipments, which pushed into the second quarter. We estimate that those revenues were roughly $5 million.
Profit margins improved, outlook appears favorable. Gross profit margins increased 80 basis points from year earlier levels, as the company shifts away from price promotions and with a focus on tight cost controls. management guided for operating margins to increase 350 to 450 basis points for the full year, bolstered by a shift away from discounting, higher pricing, and lower freight costs.
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