US luxury apparel company Vince Holding posts Q4 FY20 sales of $75 mn

Vince Holding Corp, a US-based leading global contemporary group, has reported 28.4 per cent sales decline to $74.8 million in its fourth quarter (Q4) of fiscal 2020 ended on January 30, 2021, compared to the sales of $104.4 million in the same period previous fiscal. The company’s net loss for Q4 FY20 was $5.6 million (Q4 FY19: earnings $51.7 million).

 

Vince Holding Corp, a US-based leading global contemporary group, has reported 28.4 per cent sales decline to $74.8 million in its fourth quarter (Q4) of fiscal 2020 ended on January 30, 2021, compared to the sales of $104.4 million in the same period previous fiscal. The company's net loss for Q4 FY20 was $5.6 million (Q4 FY19: earnings $51.7 million).#

“As the world recovers from the Covid pandemic and life begins to normalise, we are excited about the future of our brands,” Jack Schwefel, chief executive officer at Vince Holding, said in a press release. “Vince is distinctly positioned as a brand that embodies effortless sophisticated style. We will continue to leverage Vince’s brand equity and deep consumer connections to expand awareness and drive growth with an increased focus on the direct-to-consumer channel.”

 

Vince Holding Corp, a US-based leading global contemporary group, has reported 28.4 per cent sales decline to $74.8 million in its fourth quarter (Q4) of fiscal 2020 ended on January 30, 2021, compared to the sales of $104.4 million in the same period previous fiscal. The company's net loss for Q4 FY20 was $5.6 million (Q4 FY19: earnings $51.7 million).#

Gross profit for the quarter slipped to $27.6 million ($46.1 million), while selling, general and administrative expenses were $31.5 million ($49.3 million). The company’s loss from operations widened to $3.9 million ($3.3 million).

 

Vince Holding Corp, a US-based leading global contemporary group, has reported 28.4 per cent sales decline to $74.8 million in its fourth quarter (Q4) of fiscal 2020 ended on January 30, 2021, compared to the sales of $104.4 million in the same period previous fiscal. The company's net loss for Q4 FY20 was $5.6 million (Q4 FY19: earnings $51.7 million).#

Sales of Vince segment fell 20.4 per cent to $69.5 million in Q4 FY20, whereas Rebecca Taylor sales dropped 68.9 per cent to $5.3 million.

 

Vince Holding Corp, a US-based leading global contemporary group, has reported 28.4 per cent sales decline to $74.8 million in its fourth quarter (Q4) of fiscal 2020 ended on January 30, 2021, compared to the sales of $104.4 million in the same period previous fiscal. The company's net loss for Q4 FY20 was $5.6 million (Q4 FY19: earnings $51.7 million).#

“We saw sequential improvement in Vince during the fourth quarter led by our wholesale business. Within the wholesale channel, retail sales continue to improve as we believe we are taking share within the contemporary luxury category. At Rebecca Taylor, the decrease in sales reflect a resetting of the brand including an elimination of one of our seasonal collections. We are enthusiastic about the relaunch for spring which has been received with favourable response,” Dave Stefko, chief financial officer at Vince Holding said in the release.