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 →
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.
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.
This Deck Is Stacked In Investors Favor
Every bear worry from last year proved wrong, yet Deckers stock hasn't moved despite about 20% higher earnings.
Western Investors Rarely Dig Into Asia…
Store checks at athletic retailers in Hong Kong and Japan: HOKA, On and Arc'teryx look strong while Nike is heavily discounted in Japan.
Dick’s Media Network: Pump Up The Volume
Dick's Media Network is starting to lift gross margin for the first time, which could push margins past their usual ceiling.
Row, Row, Row Your Co…Life Is But A Dream
Williams-Sonoma's multi-brand model covers more of the home furnishings market than any peer, a rare competitive advantage.
Some Moats Don’t Work For Everything
Why laminate and vinyl flooring have become too commoditized for Floor & Decor's model, and why top investors left.
Nike Must Protect This House!
Nike's soft World Cup push in soccer risks handing US ground to Adidas just as the tournament comes to America.
We Have Sense Tec Isn’t There Yet In Apparel
Why On needs its own stores to succeed in apparel, since wholesale rarely explains innovative clothing to shoppers.
CUE The Cyclical Nature Of This Company
Parallels to Tractor Supply's 2016-17 sell-off, as its 'needs-based' categories look more discretionary than claimed.