Vince Posts Q2 Sales Gain, Raises Full-Year Outlook

EarningsM&A · Partnership
โดย WWD·USCA·Read original
Summary · why it matters

Vince reported second-quarter net sales rose 11.7 percent to $81.8 million from $73.2 million a year earlier, with gains across all channels, and raised its full-year sales and earnings per share outlook. The increase was driven by a 13.7 percent rise in the direct-to-consumer segment and a 10.4 percent rise in wholesaling. Income from operations was $13.6 million, while adjusted income from operations, including a benefit from tariff refunds, was $16.4 million versus $5.5 million a year earlier. Gross profit was $49.8 million, or 60.9 percent of net sales, including a favorable $10.4 million impact from tariff refunds; excluding that benefit, the gross margin rate was 48.2 percent. Net income was $10.6 million, or 80 cents per diluted share, compared with $12.1 million, or 93 cents per diluted share, a year earlier. Chief executive officer Brendan Hoffman said the recent completion of the OVO acquisition marks a pivotal moment for the company, and Vince, which owns 5 percent of OVO after Authentic Brands Group acquired a 51 percent stake, becomes OVO's core apparel and retail licensee, with plans to open three OVO stores in the U.S. over the next 12 months and as many as five or six Vince stores in Canada.

Impact on stocks 1

Consumer Discretionary▲ · 1 stocks

Off-coverage companies 2

OVO (Indonesia)Private▲ Positive
Demandrelevance

Vince becomes OVO's core apparel and retail licensee and plans to open three OVO stores in the U.S. over the next 12 months.

Authentic Brands GroupPrivate± Mixed
relevance

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