Mar 28, 2025
This week’s Bespoke Report is an updated version of our “Pros and Cons” edition for Q2 2025.
With this report, you’re able to get a complete picture of the bull and bear case for US stocks right now. It’s heavy on graphics and light on text, but we let the charts and tables do the talking!
On page three of the report, you’ll see a full list of the pros and cons that we lay out. Slides for each topic are then provided on page four and beyond.
To read this report and access everything else Bespoke’s research platform has to offer, sign up for Bespoke’s 50/20 special today. Our 50/20 special gets you a full year of Premium for half off, then 20% off per month after the first year. SIGN UP HERE.
Below is a look at the performance of key ETFs across asset classes since Election Day and Inauguration Day. International markets, defensives, precious metals, and Treasuries have been the only areas of strength during Trump 2.0. What’s the right acronym for that?
Mar 28, 2025
Bespoke’s Conference Call Recaps use AI to summarize lengthy earnings calls. The commentary below is AI-generated and then edited by Bespoke for quality control. As always, none of these summaries should be construed as recommendations to buy or sell any securities, and investors should do their own research and/or consult with a financial professional before making any investment decisions.
Our latest recap available to Bespoke subscribers covers Lululemon’s (LULU) Q4 2024 earnings call.
Lululemon Athletica (LULU) is an athletic apparel retailer specializing in technical athletic wear for activities such as yoga, running, and training. The company offers a range of products, including pants, shorts, tops, jackets, and accessories designed for both men and women. Known for its innovative, high-quality fabrics like Luon and Luxtreme, LULU has positioned itself as a premium brand in the athleisure market. Beyond apparel, Lululemon provides insights into the growing intersection of fitness and fashion, catering to consumers seeking both performance and style. To end its year, LULU reported a 13% YoY increase in revenue, reaching $3.61 billion. Despite this growth, the company experienced a slowdown in traffic at its 374 US stores, attributed to cautious consumer behavior amid economic uncertainties and high inflation. International markets, particularly China, showed strength, with a 21% increase in same-store sales. CEO Calvin McDonald highlighted ongoing challenges such as tariffs and increased competition from emerging brands like Alo Yoga and Vuori. Despite better-than-expected results, downbeat guidance spooked investors, dragging the stock down more than 15% in trading on 3/28…
Continue reading our Conference Call Recap for LULU by becoming a Bespoke Institutional subscriber. You can sign up for Bespoke Institutional now and receive a 14-day trial to read our newest Conference Call Recap. To sign up, choose either the monthly or annual checkout link below:
Bespoke Institutional – Monthly Payment Plan
Bespoke Institutional – Annual Payment Plan
Mar 27, 2025
Bespoke’s Conference Call Recaps use AI to summarize lengthy earnings calls. The commentary below is AI-generated and then edited by Bespoke for quality control. As always, none of these summaries should be construed as recommendations to buy or sell any securities, and investors should do their own research and/or consult with a financial professional before making any investment decisions.
Our latest recap available to Bespoke subscribers covers Cintas’ (CTAS) Q3 2025 earnings call.
Cintas (CTAS) provides uniform rental services, facility services, first aid and safety products, and fire protection solutions primarily to businesses across North America. The company reported total revenue growth of 8.4% to $2.61 billion, driven by strong customer retention and operational efficiency. Despite macroeconomic uncertainty, customer purchasing remained steady, reflecting continued demand for outsourcing solutions that stabilize cash flows. The company achieved record-high gross margins of 50.6%, benefiting from investments in technology-driven operational improvements, including SAP (enterprise software standardizing business processes) and Smart Truck (route optimization software improving logistics efficiency). Management emphasized their preparedness for potential new tariffs, citing geographic diversity and dual-sourcing strategies. Additionally, CTAS ended efforts to acquire rival uniform services provider UniFirst, citing unsuccessful negotiations. With the triple play earnings, its third such report in the last five quarters, shares rose as much as 8.5% on 3/26, bringing the stock roughly 9% from its all-time high last November…
Continue reading our Conference Call Recap for CTAS by becoming a Bespoke Institutional subscriber. You can sign up for Bespoke Institutional now and receive a 14-day trial to read our newest Conference Call Recap. To sign up, choose either the monthly or annual checkout link below:
Bespoke Institutional – Monthly Payment Plan
Bespoke Institutional – Annual Payment Plan
Mar 27, 2025
Bespoke’s Conference Call Recaps use AI to summarize lengthy earnings calls. The commentary below is AI-generated and then edited by Bespoke for quality control. As always, none of these summaries should be construed as recommendations to buy or sell any securities, and investors should do their own research and/or consult with a financial professional before making any investment decisions.
Our latest recap available to Bespoke subscribers covers Winnebago’s (WGO) Q2 2025 earnings call.
Winnebago (WGO) is a leading manufacturer of recreational vehicles (RVs), boats, and specialty vehicles. Known for its iconic motorhomes, travel trailers, and premium brands like Newmar and Grand Design, the company serves outdoor enthusiasts, providing products that enhance the RV experience. WGO’s results were impacted by weak retail demand and rising consumer uncertainty, leading to a reduction in guidance. The company is navigating a cautious market, with consumer sentiment and inflationary pressures dampening RV and marine sales. Notable highlights include product innovation across motorhomes (Grand Design’s Lineage Series) and marine segments (Barletta’s market share gains). The company’s tri-brand strategy in motorhomes is showing promise, while WGO Towables is undergoing a pricing reset to boost competitiveness. Tariffs remain a concern, especially for motorized RV chassis, but WGO is working on mitigating costs. The stock opened 9.1% higher on 3/27 on better-than-expected results…
Continue reading our Conference Call Recap for WGO by becoming a Bespoke Institutional subscriber. You can sign up for Bespoke Institutional now and receive a 14-day trial to read our newest Conference Call Recap. To sign up, choose either the monthly or annual checkout link below:
Bespoke Institutional – Monthly Payment Plan
Bespoke Institutional – Annual Payment Plan
Mar 25, 2025
Bespoke’s Conference Call Recaps use AI to summarize lengthy earnings calls. The commentary below is AI-generated and then edited by Bespoke for quality control. As always, none of these summaries should be construed as recommendations to buy or sell any securities, and investors should do their own research and/or consult with a financial professional before making any investment decisions.
Our latest recap available to Bespoke subscribers covers McCormick’s (MKC) Q1 2025 earnings call.
McCormick (MKC) is a global leader in flavor, manufacturing and distributing spices, seasonings, condiments, and flavor solutions to both consumers and industrial customers. Its products are household staples, like Lawry’s, Frank’s RedHot, and French’s mustard, and are also embedded behind the scenes in the foodservice and packaged food industries. MKC posted 2% organic sales growth driven by volume gains in both Consumer and Flavor Solutions segments, despite cautious consumer behavior globally. Consumers continue cooking at home and seeking value, boosting core categories like spices, gravy mixes, and hot sauce, where MKC outpaced private label for a third straight quarter. High-growth and QSR customers helped offset weak volumes from large CPG clients. The company maintained full-year guidance, expects gross margins to expand 50–100 bps, and plans to offset China tariff costs through cost savings. Management remains confident in long-term consumer trends favoring home-cooked, flavorful, healthier meals. MKC opened 4.1% lower on 3/25 but recovered most of it early in the trading day…
Continue reading our Conference Call Recap for MKC by becoming a Bespoke Institutional subscriber. You can sign up for Bespoke Institutional now and receive a 14-day trial to read our newest Conference Call Recap. To sign up, choose either the monthly or annual checkout link below:
Bespoke Institutional – Monthly Payment Plan
Bespoke Institutional – Annual Payment Plan
Mar 25, 2025
Bespoke’s Conference Call Recaps use AI to summarize lengthy earnings calls. The commentary below is AI-generated and then edited by Bespoke for quality control. As always, none of these summaries should be construed as recommendations to buy or sell any securities, and investors should do their own research and/or consult with a financial professional before making any investment decisions.
Our latest recap available to Bespoke subscribers covers KB Home’s (KBH) Q1 2025 earnings call.
KB Home (KBH) is one the largest homebuilders in the US, focused primarily on first-time and first move-up buyers across the West Coast, Southwest, Southeast, and Central regions. The company builds personalized, energy-efficient homes under its Built to Order model, offering buyers design flexibility through its in-house studio. KBH’s Q1 call shined light on a slower-than-usual spring selling season, as macro uncertainty and declining consumer confidence led to reduced urgency among buyers. Net orders fell early in the quarter, but mid-February price cuts (averaging $15K per home) helped improve absorption to 5.1 net sales per community per month by quarter-end. Florida was the softest region, while Las Vegas remained a standout performer. Cycle times improved to 139 days for Built to Order homes, helping offset margin pressure. The company invested $920M in land, expanding its lot pipeline 41% YoY. Despite trimming revenue guidance to $6.6B–$7.0B, management remains confident, citing strong buyer credit profiles and improved sales momentum. The stock opened 8.8% lower on 3/25 but rallied early to erase most of the loss…
Continue reading our Conference Call Recap for KBH by becoming a Bespoke Institutional subscriber. You can sign up for Bespoke Institutional now and receive a 14-day trial to read our newest Conference Call Recap. To sign up, choose either the monthly or annual checkout link below:
Bespoke Institutional – Monthly Payment Plan
Bespoke Institutional – Annual Payment Plan
