Category: Retail and Consumer

Xcel Brands (XELB) – A Promising 2026 Emerges

Posted on by slightbourne@noblecapitalmarkets.com


Monday, November 24, 2025

Michael Kupinski, Director of Research, Equity Research Analyst, Digital, Media & Technology , Noble Capital Markets, Inc.

Jacob Mutchler, Research Associate, Noble Capital Markets, Inc.

Refer to the full report for the price target, fundamental analysis, and rating.

Loss narrows from year earlier. The company reported Q3 revenue of $1.1 million and an adj. EBITDA loss of $0.7 million. The adj. EBITDA loss was lower than the $1.0 million loss a year earlier reflecting the company’s structural cost reductions. The revenue and adj. EBITDA were modestly lower than our estimates of $1.6 million and a loss of $0.2 million, respectively. Notably, sales for C. Wonder and Christie Brinkley’s TWRHLL were disrupted by tariff-related vendor issues and HSN’s studio transition during Q3, which have since been resolved.

Q4 largely on track. In spite of the HSN disruptions, we believe that Q4 revenue appears on target with expectations, although we are tweaking up expenses slightly to compensate for the prospect of some added transition costs. As such, we are tweaking our adj. EBITDA loss estimate modestly from $100,000 to $450,000.  


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*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary. Proper due diligence is required before making any investment decision. 

Xcel Brands (XELB) – Positioned For Growth In 2026

Posted on by slightbourne@noblecapitalmarkets.com


Thursday, November 20, 2025

Michael Kupinski, Director of Research, Equity Research Analyst, Digital, Media & Technology , Noble Capital Markets, Inc.

Jacob Mutchler, Research Associate, Noble Capital Markets, Inc.

Refer to the full report for the price target, fundamental analysis, and rating.

Q3 Results. The company reported Q3 revenue of $1.1 million and an adj. EBITDA loss of $0.7 million, both of which were modestly lower than our estimates of $1.6 million and a loss of $0.2 million, respectively, as illustrated in Figure #1 Q3 Results. Notably, sales for C. Wonder and Christie Brinkley’s TWRHLL were disrupted by tariff-related vendor issues and HSN’s studio transition during Q3, which have since been resolved.

Strategic partnerships. The company’s new influencer brands, with Jenny Martinez, Gemma Stafford, Cesar Millan, and Coco Rocha, are expected to launch in Q1 2026. Notably, these celebrity partnerships drove the increase in the company’s social media following from 5 million at the start of the year to its current following of 46 million. In our view, the company is well positioned to reach its goal of 100 million social media followers in 2026.


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Equity Research is available at no cost to Registered users of Channelchek. Not a Member? Click ‘Join’ to join the Channelchek Community. There is no cost to register, and we never collect credit card information.

This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).

*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary. Proper due diligence is required before making any investment decision. 

Release – Codere Online Appoints Marcus Arildsson as Chief Financial Officer

Posted on by slightbourne@noblecapitalmarkets.com

11/17/2025

    Luxembourg, Grand Duchy of Luxembourg, November 17, 2025 – (GLOBE NEWSWIRE) Codere Online (Nasdaq: CDRO / CDROW, the “Company”), a leading online gaming operator in Spain and Latin America, today announced that Marcus Arildsson has been appointed Chief Financial Officer, effective today. Mr. Arildsson will succeed Oscar Iglesias, who, as part of the previously announced transition, will assist with an orderly handover and is expected to join the Company’s Board of Directors, subject to the approval of shareholders at an Extraordinary General Meeting scheduled for December 1st.

    Mr. Arildsson is a senior finance executive with over 25 years of international experience across investment banking, equity markets and corporate finance.

    He began his career at Lehman Brothers and Merrill Lynch in London, executing over €9 billion in cross-border M&A, IPO, and equity-linked transactions. He later spent 12 years at Arcano Partners in Madrid, advising corporates and financial sponsors on more than €5 billion in M&A, debt and equity transactions.

    He has since held CFO and executive committee roles at Millenium Hospitality Real Estate, a listed REIT with a €700 million portfolio, Sonae Sierra and Ladorian, a retail media technology company.

    Mr. Arildsson holds an MBA from Northwestern University’s Kellogg School of Management and a BBA from James Madison University. He is fluent in English, Spanish and Swedish.

    “I’m thrilled to join Codere Online, a company that has demonstrated outstanding execution and discipline since becoming public. Its success reflects a strong team and clear vision and I look forward to contributing to the next chapter of that journey” said Mr. Arildsson.

    “Marcus is a seasoned financial executive whose leadership and experience will be invaluable as we continue executing our plan” said Aviv Sher, Chief Executive Officer. “We also thank Oscar for his many contributions and for ensuring a seamless transition; we look forward to his continued involvement at the Board level.”

    “On behalf of the Board, I am pleased to welcome Marcus to Codere Online,” said Gonzaga Higuero, Chairman of the Board. “His extensive experience in corporate finance and investment banking, combined with his international background, make him an exceptional addition to our leadership team.”

    About Codere Online
    Codere Online refers, collectively, to Codere Online Luxembourg, S.A. and its subsidiaries. Codere Online launched in 2014 as part of the renowned casino operator Codere Group. Codere Online offers online sports betting and online casino through its state-of-the art website and mobile applications. Codere currently operates in its core markets of Spain, Mexico, Colombia, Panama and Argentina. Codere Online’s online business is complemented by Codere Group’s physical presence in Spain and throughout Latin America, forming the foundation of the leading omnichannel gaming and casino presence.

    About Codere Group
    Codere Group is a multinational group devoted to entertainment and leisure. It is a leading player in the private gaming industry, with four decades of experience and with presence in seven countries in Europe (Spain and Italy) and Latin America (Argentina, Colombia, Mexico, Panama, and Uruguay).

    Contacts:

    Investors and Media
    Guillermo Lancha
    Director, Investor Relations and Communications
    Guillermo.Lancha@codere.com
    (+34) 628 928 152

    Forward-Looking Statements

    Certain statements in this document may constitute “forward-looking statements” within the meaning of the “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements include, but are not limited to, statements regarding Codere Online Luxembourg, S.A. and its subsidiaries (collectively, “Codere Online”) or Codere Online’s or its management team’s expectations, hopes, beliefs, intentions or strategies regarding the future. In addition, any statements that refer to projections, forecasts or other characterizations of future events or circumstances, including any underlying assumptions, are forward-looking statements. The words “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “intends,” “may,” “might,” “plan,” “possible,” “potential,” “predict,” “project,” “should,” “would” and similar expressions may identify forward-looking statements, but the absence of these words does not mean that a statement is not forward-looking. Forward-looking statements in this document may include, for example, statements about Codere Online’s financial performance and, in particular, the potential evolution and distribution of its net gaming revenue; any prospective and illustrative financial information; and changes in Codere Online’s strategy, future operations and target addressable market, financial position, estimated revenues and losses, projected costs, prospects and plans.

    These forward-looking statements are based on information available as of the date of this document and current expectations, forecasts and assumptions, and involve a number of judgments, risks and uncertainties. Accordingly, forward-looking statements should not be relied upon as representing Codere Online’s or its management team’s views as of any subsequent date, and Codere Online does not undertake any obligation to update forward-looking statements to reflect events or circumstances after the date they were made, whether as a result of new information, future events or otherwise, except as may be required under applicable securities laws.

    As a result of a number of known and unknown risks and uncertainties, Codere Online’s actual results or performance may be materially different from those expressed or implied by these forward-looking statements. There may be additional risks that Codere Online does not presently know or that Codere Online currently believes are immaterial that could also cause actual results to differ from those contained in the forward-looking statements. Some factors that could cause actual results to differ include (i) changes in applicable laws or regulations, including online gaming, privacy, data use and data protection rules and regulations as well as consumers’ heightened expectations regarding proper safeguarding of their personal information, (ii) the impacts and ongoing uncertainties created by regulatory restrictions, changes in perceptions of the gaming industry, changes in policies and increased competition, and geopolitical events such as war, (iii) the ability to implement business plans, forecasts, and other expectations and identify and realize additional opportunities, (iv) the risk of downturns and the possibility of rapid change in the highly competitive industry in which Codere Online operates, (v) the risk that Codere Online and its current and future collaborators are unable to successfully develop and commercialize Codere Online’s services, or experience significant delays in doing so, (vi) the risk that Codere Online may never achieve or sustain profitability, (vii) the risk that Codere Online will need to raise additional capital to execute its business plan, which may not be available on acceptable terms or at all, (viii) the risk that Codere Online experiences difficulties in managing its growth and expanding operations, (ix) the risk that third-party providers, including the Codere Group, are not able to fully and timely meet their obligations, (x) the risk that the online gaming operations will not provide the expected benefits due to, among other things, the inability to obtain or maintain online gaming licenses in the anticipated time frame or at all, (xi) the risk that Codere Online is unable to secure or protect its intellectual property, and (xii) the possibility that Codere Online may be adversely affected by other political, economic, business, and/or competitive factors. Additional information concerning certain of these and other risk factors is contained in Codere Online’s filings with the U.S. Securities and Exchange Commission (the “SEC”). All subsequent written and oral forward-looking statements concerning Codere Online or other matters and attributable to Codere Online or any person acting on their behalf are expressly qualified in their entirety by the cautionary statements above.

    Source: Codere Online Luxembourg, S.A.

    The Beachbody Company (BODI) – Turnaround Ahead of Schedule

    Posted on by slightbourne@noblecapitalmarkets.com


    Tuesday, November 11, 2025

    Michael Kupinski, Director of Research, Equity Research Analyst, Digital, Media & Technology , Noble Capital Markets, Inc.

    Jacob Mutchler, Research Associate, Noble Capital Markets, Inc.

    Refer to the full report for the price target, fundamental analysis, and rating.

    Solid Q3 Results. The company reported Q3 revenue of $59.9 million and adj. EBITDA of $9.5 million, both of which surpassed our estimates of $54.0 million and $2.6 million, respectively, as illustrated in Figure #1 Q3 Results. Additionally, the strong results surpassed the high end of company issued guidance, of $51.0 million to $58.0 million in revenue and $2.0 million to $6.0 million in adj. EBITDA. Furthermore, the company hit an important milestone, recording net income for the first time since going public.

    Improved operating structure. Over the past several years, the company has significantly lowered its break-even point from $900 million in 2022 to $180 million in 2025, largely through SG&A optimization and the elimination of Multi Layer sales costs. The new model offers enhanced operating leverage, enabling profitability at lower revenue levels and providing a favorable outlook ahead of several new product releases.


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    *Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary. Proper due diligence is required before making any investment decision. 

    TreeHouse Foods to Be Acquired by Investindustrial in $2.9 Billion Deal

    Posted on by slightbourne@noblecapitalmarkets.com

    TreeHouse Foods, a leading U.S. private-label snacking and beverage manufacturer, has entered into a definitive agreement to be acquired by Investindustrial, a European investment group, in a transaction valued at $2.9 billion. The all-cash deal marks a significant milestone for TreeHouse Foods as it transitions from a publicly traded company on the New York Stock Exchange to a privately held entity under Investindustrial’s ownership.

    Under the terms of the agreement announced November 10, 2025, TreeHouse shareholders will receive $22.50 per share in cash and one non-transferable Contingent Value Right (CVR) per share. The CVR provides shareholders the opportunity to receive a portion of any net proceeds from ongoing litigation related to TreeHouse’s former coffee business. The cash portion values TreeHouse’s equity at approximately $1.2 billion, representing a 38 percent premium over the company’s closing price on September 26, 2025, and a 29 percent premium over its 30-day volume-weighted average.

    The acquisition underscores TreeHouse’s strategic evolution over the past several years toward becoming a focused snacking and beverage private brand leader. The company has streamlined its portfolio to concentrate on high-growth, high-margin categories such as nuts, cookies, pretzels, and beverages. The sale to Investindustrial is expected to provide immediate value to shareholders while positioning the company for continued growth under private ownership.

    Investindustrial, known for its strong track record in food and beverage investments, views TreeHouse as an important addition to its expanding North American portfolio. Following the transaction, Investindustrial portfolio companies will collectively operate more than 85 manufacturing plants and employ over 16,000 people across the region. The firm has emphasized that TreeHouse Foods will continue to operate independently, retaining its leadership team and brand identity.

    The deal has been unanimously approved by the TreeHouse Foods Board of Directors and is expected to close in the first quarter of 2026, pending shareholder and regulatory approval. Notably, activist investor JANA Partners LLC, which holds a 10 percent stake in TreeHouse, has already agreed to vote in favor of the acquisition. The transaction is not contingent on financing, signaling strong confidence from both parties in the deal’s completion.

    As part of the agreement, TreeHouse shareholders will also receive a Contingent Value Right tied to the company’s ongoing lawsuit against Keurig Green Mountain, a subsidiary of Keurig Dr Pepper. The case, filed in 2014, alleges antitrust and unfair competition practices related to single-serve coffee pods and brewers. Depending on the court’s decision, potential damages could range from hundreds of millions to over a billion dollars, with CVR holders entitled to 85 percent of any recovered proceeds.

    Following the completion of the acquisition, TreeHouse Foods will delist from the NYSE and become a privately held company. The move is expected to give management greater flexibility to pursue long-term strategies without the pressures of quarterly reporting.

    With Investindustrial’s backing and industry expertise, TreeHouse Foods is poised to strengthen its position in the competitive private-label market, expand its manufacturing footprint, and capitalize on the growing demand for affordable, high-quality snack and beverage products.

    FAT Brands (FAT) – Third Quarter Results

    Posted on by slightbourne@noblecapitalmarkets.com


    Monday, November 10, 2025

    FAT Brands (NASDAQ: FAT) is a leading global franchising company that strategically acquires, markets, and develops fast casual, quick-service, casual dining, and polished casual dining concepts around the world. The Company currently owns 17 restaurant brands: Round Table Pizza, Fatburger, Marble Slab Creamery, Johnny Rockets, Fazoli’s, Twin Peaks, Great American Cookies, Hot Dog on a Stick, Buffalo’s Cafe & Express, Hurricane Grill & Wings, Pretzelmaker, Elevation Burger, Native Grill & Wings, Yalla Mediterranean and Ponderosa and Bonanza Steakhouses, and franchises and owns over 2,300 units worldwide. For more information on FAT Brands, please visit www.fatbrands.com.

    Joe Gomes, CFA, Managing Director, Equity Research Analyst, Generalist , Noble Capital Markets, Inc.

    Refer to the full report for the price target, fundamental analysis, and rating.

    Overview. While the restaurant industry continues to face headwinds, FAT Brands did see some positives from the operating side. Most encouraging is the momentum in same-store sales performance. The Company narrowed the SSS decline to just 3.5%, down from 4.2% in the second quarter, representing the strongest quarterly performance so far this year.

    3Q25 Financials. Quarterly revenue totaled $140 million, a 2.3% decrease from $143.4 million in last year’s quarter. The decline was driven primarily by the closure of 11 underperforming Smokey Bones locations as planned. Adjusted EBITDA was $13.1 million, compared to $14.1 million a year ago. The Company reported a GAAP net loss of $58.2 million versus a net loss of $44.8 million a year ago. Adjusted net loss was $45.4 million, or $2.67/sh, compared to adjusted net loss of $38.0 million, or $2.34/sh, in 3Q24.


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    *Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary. Proper due diligence is required before making any investment decision. 

    1-800-Flowers.com (FLWS) – Likely To Be A Bumpy Ride In The Near Term

    Posted on by slightbourne@noblecapitalmarkets.com


    Friday, October 31, 2025

    For more than 45 years, 1-800-Flowers.com has offered truly original floral arrangements, plants and unique gifts to celebrate birthdays, anniversaries, everyday occasions, and seasonal holidays, and to deliver comfort during times of grief. Backed by a caring team obsessed with service, 1-800-Flowers.com provides customers thoughtful ways to express themselves and connect with the most important people in their lives. 1-800-Flowers.com is part of the 1-800-FLOWERS.COM, Inc. family of brands. Shares in 1-800-FLOWERS.COM, Inc. are traded on the NASDAQ Global Select Market, ticker symbol: FLWS.

    Michael Kupinski, Director of Research, Equity Research Analyst, Digital, Media & Technology , Noble Capital Markets, Inc.

    Jacob Mutchler, Research Associate, Noble Capital Markets, Inc.

    Refer to the full report for the price target, fundamental analysis, and rating.

    Q1 Results. The company reported Q1 revenue of $215.2 million, and an adj. EBITDA loss of $32.9 million, both of which were largely in line with our estimates of $217.9 million and a loss of $33.0 million, respectively. Revenue decreased 11.1% over the prior year period, in part, driven by the company’s strategic decision to focus on positive marketing contribution.

    Focused on profitability. In an effort to mitigate the impact of tariffs and soft demand, there is a focus on reducing costs and maintaining stable profitability. As such, operating expenses were $127.3 million in the quarter, down $12 million y-o-y. When excluding non-recurring charges and deferred compensation effects, operating expenses were $124.9 million. The operational expense reductions were driven by a 15.8% reduction in marketing spend, reduced labor costs, and early progress from the company’s efficiency initiatives.


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    *Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary. Proper due diligence is required before making any investment decision. 

    Netflix Plans 10-for-1 Stock Split, Aiming to Broaden Employee Ownership and Investor Access

    Posted on by slightbourne@noblecapitalmarkets.com

    Netflix is moving ahead with a 10-for-1 stock split, a decision aimed at making its shares more affordable for employees and smaller investors. The split, which will take effect on November 17, will reduce the price of each share to roughly one-tenth of its current value while increasing the total number of shares outstanding.

    Shares of Netflix closed at $1,089 on Thursday. If the stock split were applied today, each share would trade around $110. The company said the move is designed to bring the price into a range that is more accessible for employees who participate in its stock option program—a strategy often used to encourage greater employee ownership and long-term alignment with company performance.

    The announcement sparked a brief rally, with shares climbing as much as 3% before moderating after reports surfaced that Netflix may be exploring a potential bid for Warner Bros. Discovery. The stock still ended the session higher, reflecting renewed investor enthusiasm around the company’s confidence in its financial strength and long-term growth trajectory.

    Although a stock split doesn’t alter a company’s overall market value, it can have important psychological and practical effects. By lowering the per-share price, a company makes its stock more approachable for retail investors and employees who might otherwise be deterred by a four-figure share price. Increased liquidity and trading volume often follow, which can narrow bid-ask spreads and potentially boost short-term demand.

    Historically, stock splits have sometimes been associated with outperformance in the months after they are announced. Analysts attribute this to improved accessibility, stronger market sentiment, and a perception of management confidence. For Netflix, which has gained over 100,000% since its 2002 IPO, the move underscores how far the company has come—from a DVD-by-mail service to one of the world’s dominant entertainment platforms.

    This marks Netflix’s third stock split since going public. The company last executed a 7-for-1 split in 2015, when shares traded above $700, and a 2-for-1 split in 2004. Both prior splits were followed by periods of sustained growth as Netflix expanded internationally and transitioned into original content production.

    For employees, the latest split could make stock-based compensation more meaningful by lowering the strike price of future options. For retail investors, particularly those who invest through fractional-free brokerage platforms, the lower per-share price could make Netflix stock more psychologically appealing.

    While large-cap firms like Netflix don’t face the same challenges as smaller companies, the move highlights a trend that could influence tech valuations more broadly. When industry leaders adjust pricing structures to make shares more attainable, it can encourage greater participation across the market—something smaller tech firms may also consider as they seek to attract investors and retain talent.

    Netflix’s split will officially take effect mid-November, after which the stock will trade on a split-adjusted basis. For investors, the change offers no direct increase in value, but it may represent a renewed vote of confidence in the company’s long-term story—and a reminder that accessibility, perception, and participation all play key roles in market momentum.

    Perfect (PERF) – Turning the Corner to Operating Profit

    Posted on by slightbourne@noblecapitalmarkets.com


    Wednesday, October 29, 2025

    Patrick McCann, CFA, Research Analyst, Noble Capital Markets, Inc.

    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.

    Q3 beat. Perfect reported Q3 revenue of $18.7 million, up 15.7% Y/Y and above our estimate of $17.8 million, with adj. EBITDA of $1.2 million, double expectations. Revenue growth was led by strong B2C performance. The company also achieved its first quarter of operating profit, reflecting greater scale efficiency and disciplined cost control.

    Continued strength in B2C. YouCam subscribers totaled 946K, down slightly, likely due to price hikes that the company initiated, which have led to higher revenue per user. B2C strength remains solid, supported by the YouCam AI Agent, which links apps under a unified login to personalize experiences and increase retention. Two apps are integrated, with full rollout expected by year-end.


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    Equity Research is available at no cost to Registered users of Channelchek. Not a Member? Click ‘Join’ to join the Channelchek Community. There is no cost to register, and we never collect credit card information.

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    *Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary. Proper due diligence is required before making any investment decision. 

    Apple Hits $4 Trillion Milestone as iPhone 17 Sales Power Market Momentum

    Posted on by slightbourne@noblecapitalmarkets.com

    Apple has once again proven its staying power in the global tech landscape, briefly touching a $4 trillion market capitalization before pulling back slightly. The milestone underscores renewed investor optimism as strong early sales of the new iPhone 17 lineup signal that Apple’s growth engine remains alive and well.

    According to data from Counterpoint Research, the iPhone 17 series outperformed its predecessor, the iPhone 16, during its first 10 days of release in both the U.S. and China—two of Apple’s most important markets. Year over year, iPhone sales surged 14%, with the base iPhone 17 and high-end iPhone 17 Pro drawing the most attention from consumers. The newly introduced iPhone Air also saw solid momentum, slightly outselling the discontinued iPhone Plus.

    Apple’s stock climbed on the back of these strong figures, propelling its valuation into the $4 trillion club alongside fellow tech giants Nvidia and Microsoft. While Apple has flirted with this threshold before, the combination of resilient hardware demand and ongoing investor confidence helped push it back into record territory.

    Still, not all analysts are convinced the sales surge will hold steady. Recent tracking from Jefferies suggests iPhone demand may be cooling slightly week over week, with delivery lead times shortening across major markets. In the U.S. and Europe, the once-long waits for iPhone 17 Pro and Pro Max models have largely disappeared, hinting that initial supply bottlenecks have eased.

    Even so, Apple’s iPhone remains its crown jewel. The device generated $201.2 billion in revenue in 2024, more than half of the company’s total $391 billion. Its Services segment—covering everything from Apple TV+ to iCloud—added another $96.2 billion, showcasing the company’s ability to diversify beyond hardware.

    Unlike Nvidia and Microsoft, whose valuations have surged on the strength of artificial intelligence development, Apple has taken a more measured approach. The company has yet to unveil its long-awaited AI-powered version of Siri, even as competitors like Google and Samsung continue to push forward with AI-enhanced products such as Gemini and Galaxy AI.

    Despite that, Apple’s ecosystem remains unmatched. With over one billion active iPhones worldwide, along with a growing base of Apple Watch, AirPods, and service subscribers, the company benefits from an unparalleled level of customer loyalty. Each product launch not only drives revenue but reinforces a network of users deeply embedded in Apple’s ecosystem.

    For investors, the story is clear: Apple may not be leading the AI revolution—yet—but its scale, cash flow, and brand strength continue to make it one of the most dependable growth stories in global markets. The $4 trillion mark is less about a temporary milestone and more about a company that continues to define what long-term market dominance looks like.

    Superior Group of Companies (SGC) – Looking Beyond The Third Quarter

    Posted on by slightbourne@noblecapitalmarkets.com


    Thursday, October 23, 2025

    Michael Kupinski, Director of Research, Equity Research Analyst, Digital, Media & Technology , Noble Capital Markets, Inc.

    Jacob Mutchler, Research Associate, Noble Capital Markets, Inc.

    Refer to the full report for the price target, fundamental analysis, and rating.

    Q3 Preview. We expect that there will be some impact on the third quarter from the “pull forward” in Branded Product revenue into the second quarter as consumers reacted ahead of possible trade policy changes. As such, we are modestly lowering our Q3 revenue and earnings expectations, highlighted in Figure #1 Q3 Revisions. 

    Largest variance. The largest adjustment to our Q3 revenue estimate is in Branded Products, revised from $89.8 million to $85.0 million. In our view, this segment offers one of the largest upside surprise potential in Q4, which could benefit from an improving macro economy. 


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    This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).

    *Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary. Proper due diligence is required before making any investment decision. 

    Release – Vince Holding Corp. Debuts on Nasdaq

    Posted on by aweinsoff@channelchek.com

    Research News and Market Data on VNCE

    10/21/2025

    Will Commemorate Milestone by Ringing the Nasdaq Closing Bell on October 23, 2025

    NEW YORK–(BUSINESS WIRE)– Vince Holding Corp., (Nasdaq: VNCE) (“VNCE” or the “Company”), a global contemporary retailer, will begin trading today on The Nasdaq Stock Market LLC (“Nasdaq”) following its voluntary transfer from the New York Stock Exchange under the ticker symbol “VNCE”. To celebrate this milestone, the Company will ring the Nasdaq Closing Bell on October 23, 2025.

    “We are thrilled to begin this exciting new chapter on Nasdaq—a milestone that celebrates both our incredible team and our company’s distinguished legacy of delivering understated luxury and timeless quality to customers,” said Brendan Hoffman, Chief Executive Officer of VNCE. “This transition reflects our continued growth trajectory as we remain on track with our objectives and continue to see nice momentum across the business today as we execute on our strategic vision. We couldn’t be more proud to ring the Nasdaq Closing Bell and showcase the remarkable transformation and the bright future we have ahead.”

    The Nasdaq Closing Bell ceremony will be broadcast live starting at approximately 3:45 p.m. Eastern Time from the Nasdaq MarketSite Tower in New York City. A live stream of the Nasdaq Closing Bell will be available at: https://www.nasdaq.com/marketsite/bell-ringing-ceremony under Bell Ceremony Events at the bottom of the page.

    ABOUT VINCE HOLDING CORP.
    Vince Holding Corp. is a global retail company that operates the Vince brand women’s and men’s ready to wear business. Vince, established in 2002, is a leading global luxury apparel and accessories brand best known for creating elevated yet understated pieces for every day effortless style. Vince Holding Corp. operates 46 full-price retail stores, 14 outlet stores, and its e-commerce site, vince.com, as well as through premium wholesale channels globally. Please visit www.vince.com for more information.

    This press release contains certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements generally are identifiable by use of the words “may,” “believe,” “expect,” “intend,” “plan to,” “estimate,” “project” or similar expressions. Investors are cautioned that such forward-looking statements are not guarantees of future performance and involve risk and uncertainties. Though we believe that expectations reflected in such forward-looking statements are reasonable, we can give no assurance that such expectation will prove to be correct. Actual results may differ materially from the forward-looking statements as a result of various factors. These and other risk factors are discussed in the Company’s filings with the Securities and Exchange Commission, including those set forth under “Risk Factors” and “Disclosures Regarding Forward-Looking Statements” in our Annual Report on Form 10-K for the year ended February 1, 2025 and, if applicable, our Quarterly Reports on Form 10-Q and our Current Reports on Form 8-K. All forward-looking statements included in this press release are expressly qualified in their entirety by such cautionary statements. We expressly disclaim any obligation to update, amend or clarify any forward-looking statement to reflect events, new information or circumstances occurring after the date of this press release except as required by applicable law.

    Investor Relations:
    ICR, Inc.
    Caitlin Churchill, 646-277-1274
    Caitlin.Churchill@icrinc.com

    Source: Vince Holding Corp.

    Xcel Brands (XELB) – Exiting A Successful Run

    Posted on by slightbourne@noblecapitalmarkets.com


    Monday, October 06, 2025

    Michael Kupinski, Director of Research, Equity Research Analyst, Digital, Media & Technology , Noble Capital Markets, Inc.

    Jacob Mutchler, Research Associate, Noble Capital Markets, Inc.

    Refer to the full report for the price target, fundamental analysis, and rating.

    Exits its Mizrahi interest. The company transferred its remaining 17.5% interest in Isaac Mizrahi to IM Topco, effectively exiting its interest in the brand. The exit of the Mizrahi relationship with Xcel caps a storied and successful run with the company since 2011. Under Xcel, Mizrahi expanded its categories and collections on QVC and into such retailers as Bloomingdale’s and Nordstrom.  

    Financial upside. Xcel has a participation right should IM Topco sell the company above $46.0 million, coincidentally, the price that Xcel sold its 60% interest. Xcel would receive 15% of the net consideration in excess of the $46 million. In addition, we believe that the company will benefit from the absent of costs related to the brand, particularly employee costs. 


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