JaguarConsumer Weekly Callouts – March 10 (CCL, DTC, EL, ELF, NAPA, NCLH, PRKS, RCL, SVV)

Solo Brands (DTC) – Since pre-announcing Q4 results back on January 8th, which drove approximately a 40% stock price decline, the stock has slid a further 26%. As Citigroup highlighted in their downgrade to Neutral on January 10th, they think the outlook for 2024 remains challenging and they expect greater-for-longer cannibalization from DTC’s omnichannel expansion strategy with limited visibility into when direct-to-consumer channel sales will improve especially as DTC’s high-profile marketing campaigns in Q4 failed to drive a sales inflection. The company ap