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Vince Holding Narrows Q2 Loss

Vince Holding Narrows Q2 Loss

Vince Holding Narrows Q2 Loss
September 13
16:19 2018
Booking.com



Vince Holding Corp. posted second-quarter results that showed continued improvement for the contemporary brand.
Vince narrowed its second-quarter net loss to $3.8 million, or 33 cents a diluted share, from a net loss of $10.1 million, or $2.05, a year ago. The company also narrowed its operating loss to $2.4 million from a loss of $8.9 million in the same year-ago quarter. Net sales rose 3.8 percent to $63.1 million from $60.8 million, helped by a 17.2 percent jump in direct-to-consumer sales and a 14.4 percent comparable sales gain, including e-commerce. The second quarter ended Aug. 4.
Brendan Hoffman, chief executive officer, said, “Our second-quarter results illustrate the excellent progress we have made in repositioning Vince for long-term growth.” He also noted that the company saw “another quarter of strong sell-through” within the department store channel.
For fiscal year 2018, the company is projecting net sales at $273 million to $280 million, versus $272.6 million in fiscal year 2017. The company is also projecting operating income of $3 million to $7 million. That compares with the reported operating loss of $18.3 million in fiscal year 2017.
Hoffman added, “We remain encouraged by the overall trends in our business and look forward to building on

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