Friday, September 04, 2026
Michael Kupinski, Director of Research, Equity Research Analyst, Digital, Media & Technology , Noble Capital Markets, Inc.
George Proost, Research Associate, Noble Capital Markets, Inc.
Refer to the full report for the price target, fundamental analysis, and rating.
Q2 Revenue Rebounds. Fiscal second-quarter revenue increased 2.7% to $302.0 million, modestly above our $300.0 million estimate, as U.S. eCommerce revenue increased 9.0% and Outfitters increased 4.4%. Importantly, regular consumer fulfillment has normalized following the Q1 WMS disruption.
Underlying eCommerce Trends Are Encouraging. U.S. eCommerce revenue increased to $182.4 million, well above our $172.3 million estimate, supported in part by shipments carried over from Q1. Given the improved performance, we modestly increased our fiscal 2026 U.S. eCommerce revenue estimate to $842.2 million from $840.4 million.
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