Warby Parker(WRBY) Benzinga·2024-10-21 18:14Core Insights - Goldman Sachs analyst Brooke Roach revised ratings on Warby Parker Inc. and Canada Goose Holdings Inc. ahead of their third-quarter earnings, noting fluctuating trends in the apparel sector as summer transitions to early fall [1][2] - Despite volatility expected for the remainder of 2024, early indicators such as falling gas prices and increased consumer discretionary cash flow suggest a more positive outlook for 2025 [1] Warby Parker Inc. (WRBY) - The stock rating was upgraded to Buy from Neutral, with the price target raised to 15, driven by promising tailwinds including expansion of insurance partnerships, growth in the vision care market, and increasing active customer numbers [2] - Improved gross profit rates from stronger glasses sales and cost-efficiency efforts in stores are expected to enhance fundamentals [2] Canada Goose Holdings Inc. (GOOS) - The stock rating was downgraded to Sell from Neutral, with the price target lowered to 11.5, reflecting a less appealing risk/reward profile compared to peers in the apparel sector [2][3] - The bearish outlook is attributed to heightened competition, normalizing brand momentum, a slowing global luxury market, and a volatile macroeconomic environment in China [3] - Despite the downgrade, there is optimism regarding strategic initiatives such as product capsules from the new creative director and improved retail execution [3] Market Context - Key factors to monitor include the upcoming U.S. elections and their implications for tariffs and geopolitical risks, a shortened holiday season, and challenges from early fall weather [2]