Not a big retail guy but here’s what I would say in terms of constructive criticism

250% upside - when I see this as a reader I am immediately skeptical. You better have a damn good reason to say 250% upside - consider setting a target price of where you expect the stock to be in a year and bring this back to gravity. Analysts do this by doing sensitivity around key assumptions - in this case the key assumptions are growth and profitability (more on that later), and valuation - a 250% upside implies its P/S should be closer to 10 x, which is fairly high and should be justified, which leads to the next point

Profitability - if a company is not profitable, it’s P/S ratio should reflect growth and expected profitability. (you should be willing to pay more for a company which you expect to grow faster and earn more) - you briefly mention that the gross margin miss is “one time” but don’t go into detail about why and what your expectation would be in the long term - there is no mention about how the gross margin miss impacts run rate EBITDA, FCF, or EPS which should be an implied measure in your P/S valuation - you hint at this by saying it is trading below other luxury retails, presumably because they can charge more and offer a premium to the cost of goods sold. But there is no further analysis which is too bad

Consider beefing up some depth in the above and I think it will turn out a lot better!