Vince Holding net sales up 5.6% to $83.5 mn in Q3 FY2018

The wholesale segment sales were flat at $53.0 million, as shipment declines related to the exit of certain wholesale partners were offset by lower sales allowances than in the same prior year period. Direct-to-consumer segment sales increased 17.1 per cent to $30.5 million compared to Q3 of FY2017. Comparable sales increased 14.1 per cent, including e-commerce sales, due primarily to an increase in transactions partially offset by lower average unit retail related to product mix, according to a press release by the company.

The company ended the quarter with 59 company-operated stores representing a net increase of four stores since the third quarter of last year.

“Our Q3 results reflect continued strength across several areas of our business. Operating income for the quarter increased by $3.7 million and for the year-to-date period, operating results improved by $13.9 million. For Q3, our retail segment delivered a 14.1 per cent compared with continued momentum in our e-commerce business while in our wholesale segment, we saw continued strength in our department store doors with higher sell-through rates and further market share gains,” said Brendan Hoffman, chief executive officer, Vince Holding.

“During Q3, we opened two stores in premier locations and we recently signed a lease for a store in midtown Manhattan across from Rockefeller Center. Overall, with another quarter of great results under our belt, combined with our performance through the Black Friday weekend, we are raising the low end of our full year guidance and are more optimistic than ever about our ability to deliver profitable growth over the long term.”

For FY2018, the company expects the net sales to be between $277 million and $280 million. This compares to net sales of $272.6 million in FY2017. (PC)

Fibre2Fashion News Desk – India