Home / Knowledge / News / Apparel/Garments / Vince Holding Q4'FY14 operating income boosts 21%
Vince Holding Q4'FY14 operating income boosts 21%
28
Mar '14
Vince Holding Corp., a leading contemporary fashion brand, reported unaudited results for the fourth quarter and fiscal year ended February 1, 2014.
 
Highlights
- Net Sales increased 20.5% for fourth quarter and 19.9% for fiscal 2013 
- Operating Income increased 21.0% for fourth quarter and 20.6% for fiscal 2013 
- Adjusted diluted EPS increased 15.0% to $0.23 for fourth quarter and 21.7% to $0.73 for fiscal 2013 
- Company provides guidance for fiscal 2014 
 
On November 27, 2013, Vince Holding Corp. ("Vince" or the "Company"), formerly known as Apparel Holding Corp. and Kellwood Holding Corp., completed an initial public offering ("IPO") of its common stock.  Prior to the IPO and the related restructuring transactions, Vince Holding Corp. was a diversified apparel company operating a broad portfolio of fashion brands, which included Vince.  
 
As a result of the IPO and the related restructuring transactions, the non-Vince businesses were separated from the Vince business, and the Vince business became the sole operating business of Vince Holding Corp.  In this press release, the Company is presenting its financial results in conformity with U.S. generally accepted accounting principles ("GAAP"), which include the historical financial information of the non-Vince businesses as discontinued operations until the separation of the non-Vince businesses on November 27, 2013.  
 
In addition, the Company is also presenting results on an "adjusted" basis in order to exclude the impact of results of the non-Vince businesses, certain public company transition costs and other adjustments. 
 
Adjusted results presented in this press release are non-GAAP financial measures.  See "Non-GAAP Financial Measures" below for more information about the Company's use of non-GAAP financial measures and Exhibits (4) through (7) to this press release for a reconciliation of actual GAAP results to such adjusted results.
 
Jill Granoff, Chief Executive Officer of Vince, commented, "It was another great year for the Vince brand as we achieved many important milestones. We are particularly proud of our successful IPO last fall which is a testament to our strong track record and significant future potential.  
 
“We are also pleased that we continued to deliver industry-leading results and record sales in fiscal 2013 with double-digit growth across all distribution channels. In wholesale, we remained the number one or number two contemporary brand with our key department store partners. In retail, we delivered 20% comparable store sales and just completed our 17th consecutive quarter of comp store increases, while our ecommerce business remained our fastest growing channel. These results reinforce the strength of our compelling product assortment and loyal customer following."
 
Click here to view full results.
 

Vince Holding

Must ReadView All

Courtesy: Reliance Industries

Textiles | On 24th Apr 2017

Reliance’s FY17 revenue from petrochemicals up 12.2%

Increase in prices across polymers and polyester chain has...

Textiles | On 24th Apr 2017

India, Kazakhstan to increase cooperation in textiles

Indian and Kazakhstan are deliberating upon increasing cooperation in ...

Textiles | On 24th Apr 2017

GST reflects 'One nation, One aspiration' spirit: Modi

Prime Minister Narendra Modi has said that the Goods and Services Tax ...

Interviews View All

Manuj Terapanthi
Texaura

Transparent supply chain and fair trade will boost sustainable market

Nitin Bhatia
Trend Arrest

Setting up a brand for online selling is easy, but running the brand is not

Sanjay Desai & Ashish Mulani
True Colors

Digital textile printing will be the technology of the future

Steve Cole
Xerium Technologies

Steve Cole of Xerium Technologies discusses the industry. Xerium is the...

Lynda Kelly
Suominen Corporation

Suominen Corporation is a manufacturer of nonwovens as roll goods for...

Kerem Durdag
Biovation II LLC

Kerem Durdag, CEO, Biovation II LLC, provides an insight into future...

Sanjukta Dutta
Sanjukta's Studio

<b>Sanjukta Dutta</b> creates unique garments by clubbing prints of...

Ritu Kumar
Label Ritu Kumar

‘Classics will return’ "There are a lot of people wearing western clothes ...

Silvia Venturini Fendi
Fendi s.r.l

"Yes, my confidence and positive attitude are my strengths and should be...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH
April 2017

April 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search