Vince Holding Corp (NYSE:VNCE) a major international luxury apparel and accessories brand reported that EPS and sales results for the year. These numbers are now anticipated to come closer to the lower end of the firm’s previously reported guidance as of December 8, 2016. The reason for this decline is believed to be an expected shift in the timing of an extensive than planned share of the Spring collection shipments from last few weeks of January to early February, and softer than anticipated sales performance in the holiday season.
The management view
Brendan Hoffman, the Chief Executive Officer of Vince, reported that despite a robust Black Friday week and better trends towards the close of December, holiday season sales were softer than expected. That recorded, for the holiday season, direct-to-consumer unit sales results were close to the lower end of guidance range. However, it came better than sell-through achievement in the wholesale division.
Overall, they continue to gain important insights from their wholesale partners and retail team. They are encouraged by the promising response to their return to the quality and style that was the foundation of the Vince brand at its start. They remain committed to leading market share gains in the wholesale channel, growing direct-to-consumer operations and expanding global presence over the long-term.
As previously reported, the firm will be hosting a chat at the upcoming 19th Annual ICR Conference on January 10, 2017. Established in 2002, the company is an international luxury brand known for using luxe fabrications and unique techniques to develop a product assortment that integrates modern effortless style and urban utility.
From its revised core collection of cotton tees and cashmere knits, Vince has progressed into a worldwide lifestyle brand and destination for men’s as well as women’s accessories and apparel. As of October 2016, company’s products were sold in renowned distribution internationally, including almost 2,400 distribution sites across approximately 40 nations.