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    Eric Beder

    Research Analyst at SCC Research

    Eric Beder is the CEO and award-winning consumer equity analyst at Small Cap Consumer Research, specializing in comprehensive company-sponsored equity coverage across the consumer sector, particularly small cap names. He covers a variety of companies including Build-A-Bear Workshop, Lands' End, and A.k.a. Brands, with a performance track record reflecting a 44% success rate on investment calls and an average return of 1.3% per transaction according to TipRanks. With over 20 years of experience, Beder started his career after earning an MBA from UC Berkeley and a BS in economics from the Wharton School, and has extensive media exposure along with prior roles at other research firms before founding Small Cap Consumer Research. His professional credentials include advanced academic degrees and extensive industry expertise, though explicit securities licenses or FINRA registration are not publicly listed.

    Eric Beder's questions to BUILD-A-BEAR WORKSHOP (BBW) leadership

    Eric Beder's questions to BUILD-A-BEAR WORKSHOP (BBW) leadership • Q2 2025

    Question

    Eric Beder of Small Cap Consumer Research, LLC inquired about the consumer's reaction to selective price increases implemented to offset tariff impacts and asked for insights into the maturity curve and future impact of the rapidly expanding partner-operated store base.

    Answer

    President & CEO Sharon Price John explained that price increases are selective and strategic, often done during seasonal resets, while the 'Count Your Candles' program maintains an accessible entry point. CFO & President Voin Todorovic added that positive traffic and transaction growth indicate no negative consumer impact. Regarding partner stores, Chief Operations & Experience Officer J. Christopher Hurt highlighted the significant growth runway, particularly with international shop-in-shop locations, as partners recognize the additive value of the Build-A-Bear experience.

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    Eric Beder's questions to BUILD-A-BEAR WORKSHOP (BBW) leadership • Q1 2025

    Question

    Eric Beder of Small Cap Consumer Research, LLC asked about Build-A-Bear's ability to capitalize on movie-related events, like the recent Stitch film, and how the new inventory management system will enhance its ability to respond to social media trends on platforms like TikTok.

    Answer

    President & CEO Sharon Price John explained that while the company maintains strong relationships with film studios, it no longer relies on movie releases, viewing them as supplementary "gravy." She noted that the new inventory system will provide superior real-time visibility, enabling more fluid inventory movement and greater confidence in stocking up on potential viral products. John also emphasized that Build-A-Bear often creates, rather than just reacts to, TikTok trends.

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    Eric Beder's questions to BUILD-A-BEAR WORKSHOP (BBW) leadership • Q4 2024

    Question

    Eric Beder inquired about the company's ability to continue reducing its dependence on China amid tariff concerns, the potential to offset tariffs with price increases, and the future strategy for the Uber same-day delivery partnership.

    Answer

    CFO Vojin Todorovic explained that the company has been proactively managing tariff risks by accelerating inventory purchases and has significantly diversified its supply chain, with less than 50% of North American inventory expected from China in 2025, down from nearly 100% in 2018. CEO Sharon John added that the company uses a strategic, 'scalpeled' approach to pricing, leveraging collectibles and limited editions to test higher price points. Regarding Uber, she noted it extends shopping windows for key holidays and supports gifting occasions like birthdays and newborn announcements, helping to acquire customers earlier and enhance convenience.

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    Eric Beder's questions to BUILD-A-BEAR WORKSHOP (BBW) leadership • Q3 2024

    Question

    Eric Beder of ROTH MKM inquired about the inventory increase excluding tariff impacts, the company's manufacturing reliance on China, the underlying causes of the online sales weakness, and the strategic potential of the Sanrio store collaboration.

    Answer

    CFO Vojin Todorovic explained that the inventory increase was a strategic pull-forward of core products to mitigate potential tariff impacts. CEO Sharon John added this is a long-standing practice to leverage their strong cash position and evergreen inventory. Regarding online weakness, Sharon John described it as part of a multi-year digital transformation, noting the different customer profiles online (adult collectors) versus in-store (families). She also highlighted the successful Sanrio collaboration as an opportunistic venture that opens doors for future partnerships.

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    Eric Beder's questions to BUILD-A-BEAR WORKSHOP (BBW) leadership • Q2 2024

    Question

    Eric Beder inquired about the new Mini Beans product line, asking if it functions as an add-on or a standalone purchase and its impact on the overall product mix. He also asked about the growth trajectory and potential for the company's international and licensing opportunities.

    Answer

    CEO Sharon John explained that Mini Beans drive both add-on sales from existing customers and new purchases at a lower price point, which also boosts store conversion. She noted the product serves as a strategic proof point for expanding into wholesale channels. CFO Vojin Todorovic and CEO Sharon John addressed international expansion, highlighting the success of the partner-operated model and stating a long-term goal of having as many stores internationally as in the U.S.

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    Eric Beder's questions to A.K.A. BRANDS HOLDING (AKA) leadership

    Eric Beder's questions to A.K.A. BRANDS HOLDING (AKA) leadership • Q2 2025

    Question

    Eric Beder from Small Cap Consumer Research asked about the key learnings from the initial Princess Polly store openings and the company's strategy for its debt, which is due in 2026.

    Answer

    CEO Ciaran Long shared that key learnings include the need for experienced in-store merchandising talent and larger store footprints to accommodate a broader assortment, which improves conversion. CFO Kevin Grant addressed the debt, highlighting the company's cash generation and leverage reduction. He stated that given the company's performance and momentum, management is confident in its ability to refinance the debt.

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    Eric Beder's questions to A.K.A. BRANDS HOLDING (AKA) leadership • Q1 2025

    Question

    Asked about the long-term store count potential for Princess Polly, the effectiveness of stores for customer acquisition, and the growth potential for the new Dillard's partnership and the broader wholesale strategy.

    Answer

    Stores are effectively acquiring new customers (30% are new to brand) and performing well financially. The company plans to maintain its current store opening pace. The new Dillard's partnership is viewed as a significant long-term opportunity that will be scaled deliberately.

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    Eric Beder's questions to A.K.A. BRANDS HOLDING (AKA) leadership • Q4 2024

    Question

    Asked about the performance metrics needed to open a new Culture Kings store in the U.S. and the infrastructure requirements for the Princess Polly store expansion.

    Answer

    The company is already seeing great progress with Culture Kings in the U.S. online and in Las Vegas, and is actively looking for a new store location with the goal of opening one this year. For Princess Polly, the stores are successfully building the brand and creating a halo effect on online sales. They have added talent to manage the rollout and will add modest headcount this year, which is already factored into the guidance, to support the expansion to 13 stores.

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    Eric Beder's questions to A.K.A. BRANDS HOLDING (AKA) leadership • Q3 2024

    Question

    Eric Beder asked about the key learnings from the first Princess Polly store and how they have been applied to new locations. He also inquired about the scope of the test-and-repeat model within the Culture Kings brand and its future opportunity.

    Answer

    Ciaran Long, Interim CEO and CFO, explained that learnings led to newer Princess Polly stores being larger, allowing for a wider product assortment which has been received positively by customers, with new stores performing ahead of plan. For Culture Kings, he stated that roughly 50% of its revenue, from its in-house brands, can be moved to the test-and-repeat model, highlighting the Loiter brand's triple-digit revenue growth as a successful proof point.

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    Eric Beder's questions to BETTERWARE DE MEXICO, S.A.P.I. DE C.V (BWMX) leadership

    Eric Beder's questions to BETTERWARE DE MEXICO, S.A.P.I. DE C.V (BWMX) leadership • Q2 2025

    Question

    Eric Beder of Small Cap Consumer Research, LLC inquired about potential sourcing opportunities in China given global production shifts. He also asked for the outlook on inventory productivity and turns for the rest of 2025 and into 2026, and questioned how the Betterware 30th-anniversary celebration should be viewed as a potential business driver.

    Answer

    President and CEO Andres Campos explained that the company is seeing opportunities for deeper collaboration with Chinese suppliers on design and cost, but not a major structural shift. Corporate CFO Rodrigo Muñoz stated that inventory levels are already declining and will continue to do so as the company focuses on selling existing stock to return to normal levels. Andres Campos added that while the 30th anniversary reinforces sales force trust, the main revenue drivers remain the company's core pricing, product, and incentive strategies.

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    Eric Beder's questions to BETTERWARE DE MEXICO, S.A.P.I. DE C.V (BWMX) leadership • Q2 2025

    Question

    Eric Beder of Small Cap Consumer Research asked about potential opportunities in the Chinese supply market given global production shifts. He also inquired about the progress and future strategy for inventory management and productivity. Finally, he asked how the company's 30th-anniversary celebration for Betterware should be viewed as a potential growth driver.

    Answer

    President and CEO Andres Campos responded that while there isn't a 'cataclysmic change,' BEFRA is finding opportunities to work more deeply with Chinese suppliers to improve product design and costs. CFO Rodrigo Muñoz addressed inventory, confirming it is declining and the strategy is to continue reducing purchases to reach normal levels. Regarding the 30th anniversary, Campos explained that its main benefit is reinforcing trust and confidence with the sales force, which supports the primary growth drivers of pricing, product, and incentive strategies.

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    Eric Beder's questions to BETTERWARE DE MEXICO, S.A.P.I. DE C.V (BWMX) leadership • Q2 2025

    Question

    Eric Beder from Small Cap Consumer Research, LLC asked about sourcing opportunities in the Chinese market given global production shifts, progress on inventory reduction and future productivity goals, and the potential for the Betterware 30th-anniversary celebration to act as a significant revenue driver.

    Answer

    President and CEO Andres Campos explained that while there isn't a 'cataclysmic' shift, the company is finding opportunities to work more deeply with Chinese suppliers to improve product design and costs. On the 30th anniversary, he noted it primarily reinforces trust and confidence in the sales force, supporting the main growth strategies rather than being a direct driver itself. CFO Rodrigo Muñoz addressed inventory, confirming levels were down approximately 200 million pesos from the start of the year and are expected to continue declining through strategic sales and reduced purchasing.

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    Eric Beder's questions to BETTERWARE DE MEXICO, S.A.P.I. DE C.V (BWMX) leadership • Q1 2025

    Question

    Eric Beder inquired about the flow of inventory going forward, potential sourcing advantages from China, and the impact of foreign exchange (FX) rates.

    Answer

    Executive Andres Chevallier explained that the Q1 inventory increase was a one-time event for the Jafra brand and is expected to decrease. Regarding China, he confirmed that falling container prices are an advantage but could not yet confirm better manufacturer pricing. Chevallier also noted that Q1 2025 faced the toughest FX comparison and expects more stability in the coming quarters, as the peso's exchange rate was more comparable in the second half of the prior year.

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    Eric Beder's questions to BETTERWARE DE MEXICO, S.A.P.I. DE C.V (BWMX) leadership • Q4 2024

    Question

    Eric Beder inquired about the year-over-year increase in BeFra's inventory, asking for the rationale behind the buildup and what the company considers a normalized level moving forward.

    Answer

    Andres Chevallier, President and CEO of BeFra Group, clarified that the inventory increase was a deliberate strategy for Betterware Mexico to counteract potential supply chain disruptions and rising freight costs, especially after experiencing shortages earlier in the year. He stated that a normalized inventory level for year-end 2024 would have been approximately MXN 2,000 million, rather than the reported MXN 2,500 million.

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    Eric Beder's questions to BETTERWARE DE MEXICO, S.A.P.I. DE C.V (BWMX) leadership • Q3 2024

    Question

    Eric Beder of B. Riley Securities inquired about the strategy behind increasing catalog SKUs, the significant rise in inventory levels, and the progress of the Betterware brand's expansion into the U.S. and Peru.

    Answer

    Andres Chevallier, an executive at BeFra, explained that the SKU increase aims to expand new categories and introduce lower-priced items to balance volume and price. He clarified that the inventory buildup was a strategic move to prevent stockouts during the crucial Q4 holiday season, following disruptions in Q2. Regarding expansion, Chevallier noted that Betterware U.S. is in a pilot phase with encouraging early results, particularly in the Hispanic market, while the Peru launch is on track for early to mid-2025.

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    Eric Beder's questions to JAKKS PACIFIC (JAKK) leadership

    Eric Beder's questions to JAKKS PACIFIC (JAKK) leadership • Q2 2025

    Question

    Eric Beder of Small Cap Consumer Research, LLC inquired about the FOB business, specifically how quickly it ramped back up after the tariff-related pause and the potential for international FOB growth. He also asked how long it might take for the business to normalize under current tariff levels and whether the company's financial strength is attracting new licensing or acquisition opportunities.

    Answer

    CEO Stephen Berman responded that the company managed the FOB disruption by using bonded warehouses and working closely with factories in China and Vietnam to restart production immediately. He noted that international growth is supported by both FOB and domestic inventory, with higher inventory levels overseas fueling sales to smaller customers. Berman stated that the company is not waiting for normalization but is actively planning for 2026 and 2027 with current tariffs considered the 'new norm'. He confirmed that JAKKS' financial strength is attracting nervous licensors and other opportunities, but the company is being very cautious and selective before taking on new commitments in the current environment.

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    Eric Beder's questions to JAKKS PACIFIC (JAKK) leadership • Q1 2025

    Question

    Eric Beder asked about the potential impact of sustained tariffs on the holiday product mix and how the current environment accelerates JAKKS' international growth strategy and infrastructure readiness.

    Answer

    Stephen Berman (executive) explained that if high tariffs persist, consumers would face higher prices for lower-priced goods. He noted that over 50% of JAKKS' products retail under $29.99, which provides a buffer. To mitigate risks, the company is holding some inventory pending tariff resolution and leveraging manufacturing partners in Vietnam, Cambodia, and Indonesia. Berman confirmed they are aggressively accelerating international expansion, particularly in Latin America and EMEA, to offset potential U.S. slowdowns. He affirmed that the company's international infrastructure is well-established and prepared for this strategic shift.

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    Eric Beder's questions to JAKKS PACIFIC (JAKK) leadership • Q4 2024

    Question

    Eric Beder of ROTH Capital Partners asked about the new dividend's impact on financial flexibility for acquisitions, the typical sales cycle for holiday movie tie-ins, and the potential to increase FOB sales while managing inventory risk amid tariff concerns.

    Answer

    CEO Stephen Berman explained that the company is very comfortable with the new dividend, stating that strong free cash flow provides ample capital for opportunistic IP or company acquisitions. He detailed that holiday movie tie-ins like 'Moana' and 'Sonic' have a long tail of demand, often boosted by subsequent streaming releases. Berman also confirmed that while the company's FOB sales are already high at 75%, they manage inventory methodically, holding strategic evergreen items domestically to mitigate tariff impacts without taking on significant risk.

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    Eric Beder's questions to JAKKS PACIFIC (JAKK) leadership • Q3 2024

    Question

    Eric Beder from B. Riley Securities inquired about the growth potential of the outdoor segment, particularly the new Authentic Brands partnership. He also asked for the outlook on the 2025 movie slate, including "Dog Man," and whether the successful Target private label program could be expanded to other retailers.

    Answer

    Executive Stephen Berman confirmed the Element brand launch with Authentic Brands Group has seen "tremendous" initial sell-through and that the broader seasonal business is seeing better comparisons. Regarding 2025 films, he noted "Dog Man" has strong early indicators but the company remains "cautiously optimistic" and will not build heavy inventory. He also confirmed that the company is launching other private label initiatives with major retailers, to be announced in 2025.

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    Eric Beder's questions to GUESS (GES) leadership

    Eric Beder's questions to GUESS (GES) leadership • Q1 2026

    Question

    Eric Beder from Small Cap Consumer Research, LLC asked for clarification on inventory flow for the remainder of the year given global supply chain issues and requested an update on the Guess? Jeans brand.

    Answer

    CEO & Director Carlos Alberini explained that the 15% inventory increase was a deliberate strategy to mitigate Red Sea supply chain risks, enabling early shipments to wholesale partners. He anticipates inventory levels will normalize in the medium term. Interim CFO Dennis Secor quantified this strategic investment at approximately $50 million, noting it has helped gain market share. Regarding Guess? Jeans, Carlos Alberini reported that the brand is exceeding expectations, particularly in European wholesale, and is being supported by new product development, targeted marketing for a younger demographic, and new store openings in key markets like Los Angeles and Tokyo.

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    Eric Beder's questions to GUESS (GES) leadership • Q4 2025

    Question

    Eric Beder from Small Cap Consumer Research asked about the growth opportunity for the new Guess Jeans brand, particularly in the U.S., and the performance of the former G-III licensed businesses (dresses and outerwear), questioning if other licenses might be brought in-house.

    Answer

    CEO Carlos Alberini expressed high confidence in the Guess Jeans brand, noting its successful launch in European wholesale and plans for a U.S. push with new flagship stores and a strengthened team. He sees it as a potential $100M+ business. Regarding the former G-III licenses, Alberini stated the company is very pleased with the integration, especially the significant outerwear business. He affirmed the strength of Guess's long-standing licensing partnerships, emphasizing trust and collaboration, and stated there are no current plans to bring other major licenses in-house.

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    Eric Beder's questions to GUESS (GES) leadership • Q3 2025

    Question

    Eric Beder of Small Cap Consumer Research asked about the differing results of the 'universal product' strategy between Europe and the U.S., and questioned the company's ability to manage potential future tariffs on goods from China and other regions.

    Answer

    CEO Carlos Alberini responded, acknowledging the global product line has been highly successful in elevating the brand in Europe but faced challenges in the more promotional U.S. market. He outlined strategies to 'reclaim' the U.S. market, including introducing Guess Jeans, re-evaluating pricing, and investing in marketing. Regarding tariffs, Alberini stated that the company has significantly reduced its dependency on China and has sourcing flexibility, expressing confidence in their ability to manage potential tariff impacts without major disruption.

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    Eric Beder's questions to GUESS (GES) leadership • Q2 2025

    Question

    Eric Beder asked for a long-term perspective on the company's potential goals for wholesale, retail, and margins, considering the significant investments being made in the current fiscal year.

    Answer

    CEO Carlos Alberini characterized the current year as one of transformation and investment, highlighting the integration of Rag & Bone, the launch of Guess? Jeans, and increased spending on marketing and talent as foundational for long-term growth. He emphasized that these initiatives will take time to mature. Interim CFO Dennis Secor supported this by noting the company has strengthened its capital structure, including refinancing debt and expanding credit facilities, to ensure it has over $600 million in liquidity to support its long-term vision and seize future opportunities.

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    Eric Beder's questions to LANDS' END (LE) leadership

    Eric Beder's questions to LANDS' END (LE) leadership • Q4 2024

    Question

    Eric Beder sought clarity on the rollout timeline for new licensed products, such as kids' apparel, in the company's catalogs and wholesale channels. He also asked about the strategic evolution of the catalog into a lifestyle-focused marketing tool and the customer response to this change.

    Answer

    CEO Andrew McLean clarified that licensed kids' and shoe products are already available. He detailed that licensed home products will launch on Amazon in the back half of the year, with new categories like intimates, hosiery, and travel accessories also launching then. Regarding the catalog, he explained it has pivoted from a sales channel to a highly personalized marketing tool, with 58 different versions produced annually to target specific customer segments, like long-time buyers versus newer 'evolver' customers.

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    Eric Beder's questions to LANDS' END (LE) leadership • Q4 2024

    Question

    Eric Beder asked for details on the rollout timing for new licensed products in catalogs and wholesale channels, and questioned the strategic evolution of the catalog into a lifestyle-focused marketing tool.

    Answer

    CEO Andrew McLean clarified that licensed kids' and shoe products are already in the market. He detailed that home products will launch on Amazon in the back half of the year, with new categories like men's underwear, intimates, and travel accessories also launching then. Regarding the catalog, he explained it has pivoted from a sales channel to a highly personalized marketing device, with 58 different versions produced annually to target specific customer segments with tailored content.

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    Eric Beder's questions to LANDS' END (LE) leadership • Q4 2024

    Question

    Eric Beder asked for details on the rollout timing for licensed products, specifically kids' apparel and other new categories. He also inquired about the evolution of the catalog into a lifestyle resource and the customer response to this strategic shift.

    Answer

    CEO Andrew McLean clarified that licensed kids' and shoe products are already in the market. He detailed that home products will launch on Amazon in the back half of the year, with swim appearing in Kohl's and Target later in the year. New licenses for men's underwear, women's intimates, socks, and travel accessories will also launch in the back half. Regarding the catalog, he explained it has pivoted from a sales channel to a highly personalized marketing tool, with 58 different versions a year tailored to specific customer segments like traditional buyers versus "evolver" customers.

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    Eric Beder's questions to LANDS' END (LE) leadership • Q2 2025

    Question

    Eric Beder asked about the strategy for digital marketplace expansion following the addition of Nordstrom, the potential for international growth, the interplay between the catalog and licensed product categories like jewelry, and the progress in the Outfitters business.

    Answer

    CEO Andrew McLean explained the marketplace strategy focuses on a 'good, better, best' product architecture, with Nordstrom representing the 'best' tier and international expansion being a key future opportunity. He described the catalog as a tool to build a 'collection business' and drive add-on sales. Regarding Outfitters, McLean stated the business is returning to its B2B core, citing the significant new partnership with Wells Fargo as a sign of progress and future direction.

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    Eric Beder's questions to LANDS' END (LE) leadership • Q1 2025

    Question

    Eric Beder of Small Cap Consumer Research, LLC asked if the licensing business is now entering a phase of adding incremental categories rather than replacing existing ones. He also inquired about the performance of the kids and footwear licenses, the launch cadence for the Delta contract, the expected impact from a competitor exiting the school uniform market, and whether swim performance was affected by weather.

    Answer

    CFO Bernard Mccracken confirmed that newly signed licenses are for 'white space' categories and will be purely incremental. CEO Andrew McLean reported that the kids' license has been strong, while the footwear license is improving with a focus on newness. McCracken clarified the Delta contract will have a normal run rate, not a large initial launch, and noted that the $13 million in new school uniform business will begin to impact results in Q2. McLean acknowledged that a cold, wet start to the season delayed swim sales but credited the improved product collection for its performance once the weather turned.

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    Eric Beder's questions to LANDS' END (LE) leadership • Q1 2025

    Question

    Eric Beder of Small Cap Consumer Research asked if the licensing business is now entering a phase of adding incremental categories rather than replacing existing ones. He also requested an update on the performance of the kids and footwear licenses, the launch cadence for the Delta contract, and the expected timing of benefits from a competitor exiting the school uniform market.

    Answer

    CFO Bernard McCracken confirmed that newly signed licenses are for 'white space' categories and will be purely incremental. CEO Andrew McLean added that the kids license has performed strongly, while the footwear license is gaining traction with new styles. McCracken clarified the Delta contract will be a normal run rate, not a large initial launch. He also stated the $13 million in new school uniform business will begin to positively impact results in Q2.

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    Eric Beder's questions to LANDS' END (LE) leadership • Q1 2025

    Question

    Eric Beder of SCC Research asked if the licensing business is now entering a phase of adding incremental revenue categories rather than just replacing existing ones. He also requested an update on the performance of the kids and footwear licenses, the launch cadence for the Delta contract, the expected impact from a competitor exiting the school uniform market, and whether the swim business was impacted by weather.

    Answer

    CFO Bernard McCracken confirmed that newly signed licenses for travel accessories and intimates are in 'white space' categories and will be purely incremental. CEO Andrew McLean added that the Kids license has performed strongly since the transition, while the Shoes license started slower but is now gaining traction with newness. McCracken clarified the Delta contract will be a normal run rate, not a large initial launch. He also noted the $13 million in new school uniform business will begin to materialize in Q2. McLean attributed the swim category's success to product innovation, despite a cold start to the season.

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    Eric Beder's questions to LANDS' END (LE) leadership • Q1 2025

    Question

    Eric Beder of SCC Research asked if the licensing business is now entering a phase of adding incremental revenue through new categories. He also requested an update on the performance of the kids and footwear licenses. Additionally, he inquired about the B2B business, specifically the launch cadence for the Delta contract, the expected impact from a competitor's exit in the school uniform space, and whether swim performance was affected by weather.

    Answer

    CFO Bernard Mccracken confirmed that newly signed licenses are in 'white space' categories and will be purely incremental. CEO Andrew McLean added that the Kids license has performed strongly, while the Shoes license is gaining traction with a focus on newness. Regarding B2B, McCracken stated the Delta contract will have a normal run rate, not a large initial launch. He also noted the $13 million in new school uniform business will begin to positively impact results in Q2. McLean attributed the strong swim performance to improved product, despite a cold start to the season.

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    Eric Beder's questions to LANDS' END (LE) leadership • Q3 2024

    Question

    Eric Beder asked for details on the company's licensing strategy, including the criteria for selecting new partners, upcoming licenses for 2025, and the long-term target mix between licensed and non-licensed products. He also questioned if there were further opportunities for inventory reduction.

    Answer

    CEO Andrew McLean stated the long-term goal is an 80/20 split between non-licensed and licensed products to maintain brand control. He outlined that ideal partners must be established in their space and align with Lands' End's brand values. Future licensing opportunities include non-core categories like beauty and luggage, with a significant focus on international expansion. CFO Bernard McCracken addressed inventory, stating that current levels are considered normalized, though future efficiencies from nearshoring will continue to be pursued.

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    Eric Beder's questions to Vera Bradley (VRA) leadership

    Eric Beder's questions to Vera Bradley (VRA) leadership • Q3 2025

    Question

    Eric Beder of Small Cap Consumer Research inquired about the strategy for new store openings, the early results of Project Restoration, and the role of collaborations.

    Answer

    CFO Michael Schwindle explained the focus on outlet store expansion within Simon Premium Outlets and a cautious approach to full-price stores. CEO Jacqueline Ardrey added that new operational models are being tested and highlighted Project Restoration's 'green shoots,' such as attracting younger, more affluent customers at lower discounts. She also emphasized that collaborations like 'Wicked' and Disney are key to expanding brand awareness and cultural relevance.

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    Eric Beder's questions to Vera Bradley (VRA) leadership • Q2 2025

    Question

    Asked about the strategy for collaborations in driving new customers, the performance and future plans for the higher-priced leather category, and how the company is addressing feedback from core customers who want more traditional cotton print products.

    Answer

    Executives stated that collaborations are a key part of the strategy in all channels. The higher-priced leather category has performed surprisingly well and will be expanded. They acknowledged customer feedback on product features and the print assortment, and are making adjustments to styles and increasing print options starting with the holiday season to serve both new and core customers.

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    Eric Beder's questions to Vera Bradley (VRA) leadership • Q2 2025

    Question

    Eric Beder asked about the role of collaborations in driving new customers, the performance and future of the higher-priced leather category, and the company's strategy for retaining its core cotton-pattern customer amid product assortment changes.

    Answer

    CEO Jacqueline Ardrey stated that collaborations like Disney are a key part of the go-forward strategy in all channels. She noted that the leather program's success at higher price points was a positive surprise and will be built into future assortments. Ardrey also clarified that the company is not moving away from its core customer and is actively incorporating feedback on style adjustments like strap lengths, pockets, and adding more print options back into the assortment, with changes beginning in the holiday season.

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    Eric Beder's questions to Vera Bradley (VRA) leadership • Q4 2025

    Question

    Eric Beder asked about the impact of 'green shoots' like the Target digital marketplace, the planned flow of brand collaborations for the upcoming year, and the customer response to recent product adjustments like improved straps and zippers.

    Answer

    CEO Jacqueline Ardrey explained that the Target marketplace success is informing a broader indirect strategy and that the customer profile on the platform is similar to their core. She confirmed a more robust pipeline for both intellectual property collections, like the successful 'Wicked' line, and brand partnerships, like the one with Urban Outfitters, to attract new customers. Ardrey also acknowledged a prior 'mistake' in styling, noting that the updated products with customer-requested features are already outselling previous versions, demonstrating the company is listening to feedback.

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    Eric Beder's questions to VINCE HOLDING (VNCE) leadership

    Eric Beder's questions to VINCE HOLDING (VNCE) leadership • Q3 2024

    Question

    Eric Beder of Small Cap Consumer Research, LLC inquired about the customer response to new licensed products, the long-term potential for retail store expansion, and the growth outlook for the men's business, particularly within Nordstrom.

    Answer

    Interim CEO David Stefko clarified that new licensed products like belts and leather goods will launch in spring, with handbags following in fall 2025. He detailed a data-driven U.S. store expansion plan, starting with Nashville and another top market in 2025, alongside a new opportunistic opening in London. Regarding the men's business, Stefko noted positive early results from the Nordstrom expansion and strong performance from the new pants program in Vince's own stores. CFO John Szczepanski added that the direct-to-consumer channel's profitability increased significantly due to a strategic pullback in promotions, which improved margins despite a top-line decline.

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    Eric Beder's questions to VINCE HOLDING (VNCE) leadership • Q4 2024

    Question

    Eric Beder of Small Cap Consumer Research, LLC asked about Vince's strategy for expanding product categories like accessories, the long-term outlook for store count growth, and plans for marketing to core customers who might absorb tariff-related price increases.

    Answer

    CEO Brendan Hoffman responded that he is enthusiastic about category evolution, crediting partner Authentic Brands Group for diversifying the product offering. He mentioned that while store opening plans for Sacramento, Nashville, and London exist, they are being re-evaluated due to tariff uncertainty. Hoffman also confirmed that the recent focus on full-price customers positions the company well to implement strategic price increases while maintaining the brand's value proposition.

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    Eric Beder's questions to urban-gro (UGRO) leadership

    Eric Beder's questions to urban-gro (UGRO) leadership • Q1 2024

    Question

    Eric Beder of SCC Research asked about demand trends in the commercial business, whether clients are awarding larger contracts, and for an update on the European business, particularly following developments in Germany.

    Answer

    CEO Bradley Nattrass reported that commercial demand remains strong, though the time between verbal awards and contract signatures has not improved. He noted the company secured many smaller 'single' projects in Q1 rather than larger contracts. Regarding Europe, Nattrass described demand as weak and stated the business has been right-sized to align with the current opportunity, with no material improvement expected for the remainder of the year despite a small services contract signed in Q2.

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    Eric Beder's questions to urban-gro (UGRO) leadership • Q4 2023

    Question

    The analyst asked about the company's competitive niche and value proposition in the commercial design-build space. He also inquired about the state of the equipment manufacturing market, including pricing power and the number of players, and the potential for future margin recovery in that segment.

    Answer

    The company's niche in the commercial space is providing a single point of responsibility for projects under $50 million, a size often overlooked by larger firms. This integrated approach allows clients to complete facilities faster. In the equipment sector, the market has been tough for manufacturers, leading to some closures and creating opportunities for strong strategic partnerships. Urban-Gro's purchasing volume gives them an advantage. Equipment sold as part of a larger commercial construction project is bundled into the construction revenue, which they expect will help increase construction margins in 2024.

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    Eric Beder's questions to urban-gro (UGRO) leadership • Q3 2023

    Question

    Inquired about the company's competitive advantage in winning non-CEA contracts, the expected revenue mix for Q4, and the outlook for equipment margins upon a CEA market recovery.

    Answer

    They win non-CEA contracts by offering a valuable turnkey solution for mid-sized projects ($10-30M) and delivering strong service, which larger competitors often don't target. The Q4 revenue mix is expected to be ~2/3 non-CEA but could shift toward 50/50 in 2024. For equipment, they focus on a client-centric, cost-plus model rather than maximizing margins and are also expanding equipment sales into non-CEA sectors.

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    Eric Beder's questions to Icon Energy (ICON) leadership

    Eric Beder's questions to Icon Energy (ICON) leadership • Q3 2019

    Question

    Eric Beder of SCC Research inquired about the potential for further SG&A savings, the outlook for replacing major DTRs in the U.S., opportunities for former Sears/Kmart brands, and the company's strategy in China.

    Answer

    President & CEO Bob Galvin confirmed that Iconix continues to assess operations for more cost savings, with the process extending into Q1 2020. He noted that replacing the Massimo DTR has seen less traction in the U.S. but that OP is gaining momentum for 2021. For former Sears brands, Galvin highlighted plans to relaunch Joe Boxer for its 35th anniversary in 2021 and successful new deals for Cannon outside of Sears. He also emphasized China's importance, citing the termination of a poor partnership for Umbro and strong launches for Starter and Lee Cooper.

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    Eric Beder's questions to Icon Energy (ICON) leadership • Q2 2019

    Question

    Eric Beder of SCC Research inquired about the business landscape for dormant brands like OP, international demand for U.S. licenses amid political disruptions, and the financial impact timeline for newly signed deals in 2019 and 2020. He also asked about the payment method for convertible note interest, the potential for further cost-cutting, and the status of the post-bankruptcy Sears agreements, including the potential for expanding those brands to new retailers.

    Answer

    President and CEO Bob Galvin confirmed that international demand remains strong, with positive meetings in Europe and Asia. He noted that while large-scale DTRs for dormant brands haven't been secured, there is interest in specific product categories. Galvin also explained that new deals will have a larger impact in 2020 and that the company's platform is now structured for significant operating leverage. CFO John McClain added that the convertible note interest would be paid in cash and that the company continues to seek cost efficiencies. Regarding Sears, both executives confirmed the new agreements are with the post-bankruptcy entity (TransformCo), are non-exclusive, and that they are already seeing traction for brands like Cannon outside of Sears.

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    Eric Beder's questions to Icon Energy (ICON) leadership • Q1 2019

    Question

    Eric Beder of SCC Research inquired about the remaining potential for expense reductions, the market response to transitioning key DTR brands like Danskin and OP, and the expected timeline for achieving a cleaner, 'apples-to-apples' financial comparison year.

    Answer

    President and CEO Bob Galvin explained that expense rationalization will continue in relation to revenue, with more opportunities for savings. He noted positive momentum for Danskin with new retailers and a footwear license, and strong interest in OP. Galvin clarified that 2019 financials will still contain 'noise' from DTR transitions and the Sears bankruptcy, with 2020 expected to be a clearer comparison year. CFO John McClain reaffirmed the target of $40 million in year-over-year expense savings.

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    Eric Beder's questions to Icon Energy (ICON) leadership • Q4 2018

    Question

    Eric Beder from SCC Research inquired about the revenue outlook for 2019, the impact of new licensing agreements on 2020, the scalability of the company's infrastructure, the future of the Direct-to-Retail (DTR) model, and the potential for brand divestitures.

    Answer

    CEO Bob Galvin stated that 2019 is expected to be a revenue trough, with new licensing deals currently being signed expected to drive growth in 2020 and beyond. He affirmed that the current cost structure is adequate to manage future growth without needing to add expenses, and may even be reduced. Galvin also explained the company is shifting focus from DTRs to wholesale and manufacturing partnerships, and while not actively selling brands, Iconix would be opportunistic regarding any potential divestitures.

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