297
Fashion Jobs
H&M
Total Rewards Manager, Supply Chain
Permanent · TSIM SHA TSUI
H&M
Accounts Specialist
Permanent · TSIM SHA TSUI
ESTÉE LAUDER COMPANIES
Assistant Demand Planning Manager
Permanent · HONG KONG
ESTÉE LAUDER - BRAND
Retail Marketing Manager, Estée Lauder
Permanent · HONG KONG
CLINIQUE
Assistant Education Manager, Clinique
Permanent · HONG KONG
CLINIQUE
Senior Marketing Manager, Clinique
Permanent · HONG KONG
TOMMY HILFIGER
Senior Manager, Creative Services, Tommy Hilfiger Asia Pacific
Permanent · HONG KONG
AESOP
Retail Consultant
Permanent · SHA TIN
NEWELL
Senior Manager, Indirect Sourcing
Permanent · HONG KONG
L'OREAL GROUP
Group Product Manager
Permanent · HONG KONG
ADIDAS
Senior Manager, Materials Availability Management
Permanent · HONG KONG
L'OREAL GROUP
Assistant Purchasing Manager (Marketing, Digital IT)
Permanent · HONG KONG
PUMA
Manager Innovation Technical Apparel
Permanent · HONG KONG
DR. MARTENS
Head of Financial Accounting, Apac
Permanent · TSIM SHA TSUI
TJX COMPANIES
Director of Sourcing, Apparel -Hong Kong
Permanent · HONG KONG
A & F
Hollister CO. - Brand Representative (Part-Time / Full-Time), Hysan Place
Permanent · CAUSEWAY BAY
A & F
Hollister CO. - Brand Representative (Part-Time / Full-Time), Yoho Mall
Permanent · HONG KONG
A & F
Abercrombie & Fitch - Brand Representative (Part-Time / Full-Time), Harbour City
Permanent · TSIM SHA TSUI
KERING EYEWEAR
Kering Eyewear Assistant Trade Marketing Manager Travel Retail
Permanent · HONG KONG
JAEGER
Training Manager
Permanent · HONG KONG
L'OREAL GROUP
Retail And Education Manager
Permanent · HONG KONG
TORY BURCH
Senior Manager, Retail Training, Asia
Permanent · HONG KONG
Published
Sep 17, 2019
Reading time
2 minutes
Download
Download the article
Print
Text size

Vince breaks into profit thanks to solid sales gains

Published
Sep 17, 2019

Vince Holding Corp. announced significant gains in the second quarter as it swung to a profit, boosted by strong cross-segment sales improvements and reduced expenses.


Vince has been working hard to turn around its fortunes in recent quarters - Instagram: @vince


For the second quarter ended August 3, 2019, the New York-based luxury apparel company reported net income of $1.0 million, or $0.08 per diluted share, compared to a net loss of $3.8 million, or $0.33 per share, in the same period in the previous year.

This improvement was driven principally by a net sales rise of 13.0%, with revenues totaling $71.4 million, compared to $63.1 million in the prior-year period.

The company’s wholesale and direct-to-consumer segments both posted double-digit sales increases of 14.7% and 10.6%, respectively. Wholesale revenues totaled $43.4 million, while the direct-to-consumer segment reported $28.0 million in sales.
 
Vince’s cross-company comparable sales, including e-commerce, increased 7.1%. The retailer ended the quarter with 60 company-operated stores, up from 58 at the end of the second quarter of 2018.
 
The company also managed to trim its selling, general, and administrative expenses to $32.8 million, or 45.9% of sales, in the period, down from 47.7% in Q2 2018.
 
“Our results are evidence that the multiple initiatives that we have been undertaking are coming together to deliver strong performance in all areas of the business,” said Vince CEO Brendan Hoffman in a release. “We are excited about the momentum in our business as we continue to make progress across our strategic initiatives which include driving global expansion across our retail, e-commerce and wholesale channels as well as increasing brand awareness globally.”
 
Looking at the first six months of fiscal 2019, Vince reported net sales of $126.5 million in the first half of the year, compared to $117.6 million in the prior-year period. The company’s year-to-date net loss of $6.0 million, or $0.51 per share, also represented an improvement from the loss of $9.5 million, or $0.81 per share, reported in the first half of 2018.  
 
In line with its improved second-quarter and first-half sales and earnings, Vince announced that it has raised its full-year 2019 outlook and now expects to achieve net sales of between $295 million and $305 million.

Following the report of the company's Q2 results, shares in Vince shot up more than 15% in after-hours trading. 

Copyright © 2024 FashionNetwork.com All rights reserved.