UPON FURTHER REVIEW
The considered view, once the noise settles.
Every company under dedicated coverage gets an Upon Further Review report each quarter, typically within 3–5 business days of its earnings call. It goes well beyond the sell-side’s earnings recaps: what actually changed, what it means, and an updated financial model. Included in both paid plans.
DEEP DIVES
Original research you won’t find anywhere else.
At least twice a year for every company under dedicated coverage, a Deep Dive goes well beyond the earnings calls, with store visits, channel checks and primary research that most of the sell-side no longer has time to do. Included in the $500 plan.
Why the sell-side rarely does this: read Confessions of a Sell-Side Analyst →
Upon Further Review: Floor & Decor (11/6/26)
How far Floor & Decor's mix has shifted to tile and wood, tile share gains in a shrinking US market, and whether acoustic panels can keep wood growing.
Upon Further Review: Adidas (11/5/26)
How much apparel is inside Adidas' 19% running growth, and markdown checks on adidas.com, nike.com and run specialty showing what US growth costs.
Upon Further Review: VF Corp (11/3/26)
Bracken Darrell's record of optimism at Logitech and VF, plus fresh Vans channel checks comparing markdowns on vans.com with wholesale.
Upon Further Review: Deckers (10/31/26)
HOKA's new $115 Fly Pace shoe and what going below $120 means, with a price comparison of the cheapest running shoe at every major brand.
Upon Further Review: Tractor Supply (10/29/26)
Ahead of Tractor Supply's long-term reset: the 9% margin floor, real estate gains inside EBIT, slower store growth, and El Niño risk to 4Q.
A Tale Of Two Cities
Deep Dive on RH comparing its new London gallery with RH Atlanta, the first of its Next Generation Galleries.
Is ASICS “Running” Out Of Time?
Deep Dive on ASICS ahead of its new three-year plan, with a focus on North America and US run specialty.
This Goose Lays Eggs That Just Aren’t Golden
Canada Goose's year-round story leans on its own stores, Asia is the only region working, and a mild winter is the bigger risk.
Upon Further Review: Nike (10/12/26)
Sizing Nike's Pace restructuring against 2009 and 2023, what Nike's sheer size means for growth, and a look at regional inventory and the dividend.
Upon Further Review: JD Sports (10/5/26)
Why Nike's European inventory sets JD's timeline, and why womenswear is harder for JD in the US than the UK, using our store density work.
Upon Further Review – Post 2Q26 Thoughts
Tracking RH's international margin drag through every shareholder letter, why EBITDA guidance understates occupancy, and what European D&A means for 2027.
Grading On A “Maturity” Curve
Academy's new-store comp boost can't offset negative comps, and its other growth drivers look thin.
Sell More Shirts And Shoes. That’s It.
Under Armour has cut costs for years without margin gains; its hits, like Bouncy Tee, aren't reaching enough scale.
Porcelain – This “Isn’t” Goodbye
After laminate and vinyl turned commoditized, is porcelain tile next? What that means for Floor & Decor's business model.
The “Gold” Standard
VF Corp comes down to trusting management; results are improving, but Vans remains the pain point.
Arc’teryx: If The Shoe Doesn’t Fit…
Heavy discounting of Arc'teryx footwear at retailers like REI is the first real warning sign; the rest of Amer looks healthy.
Lululemon Can Make A “Heidi” Look Good
A state-of-the-union on Lululemon: discounting, merchandising, IT and Asia store checks, and why a return to health is underway.
The Tractor Broke Down: Reduced Speed Ahead
Tractor Supply dropped the long-term targets we long called unrealistic; what the withdrawal means for the stock.
Sandbagging Is One Thing, Avoidance Another
Wolverine raised Saucony's outlook but not Merrell's, implying a sharp slowdown as outdoor footwear competition heats up.
Asian Expansion Like A “Pro”
Store visits in Hong Kong and Japan support Deckers' call for faster international growth in the second half for HOKA and UGG.