As previously reported, Raymond James analyst Rick Patel downgraded Brilliant Earth to Market Perform from Outperform without a price target. The firm cites low visibility and less benefit from repeat purchase compared to others in digital commerce and softlines retail. In terms of its broader industry themes for the global brands and digital commerce group, the firm thinks revenue will decelerate in Q1, but sees the second half poised to be stronger, and it expect lower gross margins on ongoing, but "less bad," promo pressure.
Published first on TheFly
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