>>
Home / Knowledge / News / Fashion / Vince Q4 sales improve 4.2% to $77.8 million

Vince Q4 sales improve 4.2% to $77.8 million

13
Apr '19
Pic: Vince Holding
Pic: Vince Holding
The net sales of Vince Holding during the fourth quarter of fiscal 2018 have increased   4.2 per cent to $77.8 million as compared to $74.6 million in the same period last year. Direct-to-consumer segment sales increased 3.6 per cent to $37.5 million compared to the fourth quarter of fiscal 2017, which included $1.6 million in net sales from the 14th week.

In 2018, net sales grew 2.3 per cent to $279.0 million from $272.6 million during fiscal year 2017, including $1.6 million in direct-to-consumer segment from the 53rd week. Wholesale segment net sales decreased 3.9 per cent to $159.6 million and direct-to-consumer segment net sales increased 12.1 per cent to $119.3 million compared to fiscal year 2017, which included $1.6 million of incremental net sales from the 53rd week. Comparable store sales on a 52-week basis climbed 10.7 per cent, including e-commerce sales.

"We were pleased to have delivered on our guidance for 2018, which was a pivotal year for our Company. We streamlined our wholesale business to focus on key partners where we achieved strong retail door sell through, we successfully opened 6 new stores and drove double digit e-commerce growth, we have launched a subscription rental program and received accolades on our women’s collections throughout the year," Brendan Hoffman, chief executive officer, said.

The company ended the fourth quarter of fiscal 2018 with $46.5 million of borrowings under its debt agreements. The company decreased overall borrowings under its debt agreements since the same period last year by $3.4 million, primarily due to $5.5 million of net repayments to the term loan facilities, partially offset by an increase in net borrowings under the revolving credit facilities to fund working capital needs.

For fiscal 2019 the company expects net sales to be between $290 million and $300 million. This compared to net sales of $279.0 million in fiscal 2018. Operating income is likely to be between $7 million and $9 million, including an estimated $1.5 million associated with strategic consulting fees. This compared to reported operating income of $4.1 million in fiscal 2018, which included a $1.7 million non-cash asset impairment charge related to property and equipment of certain retail stores.

"We have worked diligently to rejuvenate and stabilize the Vince brand, and build a strong foundation to support long term profitable growth. Looking ahead, for 2019, we are focused on growing our direct-to-consumer business, increasing our international presence, exploring product extensions into new categories and elevating our marketing efforts. We are excited about the future growth potential for the Vince brand and remain committed to driving long term shareholder value," explained Hoffman. (RR)

Fibre2Fashion News Desk – India


Must ReadView All

Pic: Shutterstock

Textiles | On 18th Jan 2022

Singapore, Bangladesh agree to conclude FTA early

Bangladesh and Singapore have agreed to accelerate the process of...

Pic: Airlines IATA

Textiles | On 18th Jan 2022

Supply chain disruptions stall global cargo growth in Nov 2021: IATA

Data for global air cargo markets have revealed slower growth in...

Pic: Shutterstock

Textiles | On 18th Jan 2022

Philippine garment-textile industry seeks govt support to protect jobs

The Clothing and Textile Industry Tripartite Council (CTITC) in the...

Interviews View All

Vandana Narang, National Institute of Fashion Technology

Vandana Narang
National Institute of Fashion Technology

Campus placements are low due to lockdowns

Textile Industry, Head honchos

Textile Industry
Head honchos

Uniform designing is a numbers game

Textile Industry, Head honchos

Textile Industry
Head honchos

Switch was not 100% pandemic related

Rajesh Vohra,

Rajesh Vohra

A part of the Italy based multinational company Artsana Group, Chicco is...

Benedetta Terraneo,

Benedetta Terraneo

Miko Srl, a subsidiary of US-based Sage Automotive Interiors and a member...

Kriti Kanodia,

Kriti Kanodia

A TV show in 2012 where actor Sonam Kapoor customises her own pair of...

Frank Heislitz, Freudenberg

Frank Heislitz
Freudenberg

Freudenberg Performance Materials is a leading global manufacturer of...

Frank Heislitz, Freudenberg Performance Materials

Frank Heislitz
Freudenberg Performance Materials

Freudenberg Performance Materials is a leading global manufacturer of...

Silverio Baranzano, Fitesa

Silverio Baranzano
Fitesa

Fitesa is a leader in the nonwoven fabrics industry, specialising in...

Dahlia Razzrook, Label - Dahlia Razzook

Dahlia Razzrook
Label - Dahlia Razzook

London based designer, <b>Dahlia Razook</b> known for her luxury...

Anju Modi, Label Anju Modi

Anju Modi
Label Anju Modi

Filmfare Award winner for best costume designer,<b> Anju Modi </b>is...

Carmen Emanuela Popa, Label - Carmen Emanuela Popa

Carmen Emanuela Popa
Label - Carmen Emanuela Popa

<b>Carmen Emanuela Popa,</b> a Romanian fashion designer, is known for her ...

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

Leave your Comments

ESTEEMED CLIENTS

H;&M Hennes ;& Mauritz (Far East) Ltd
Etam Group Strategy Hong Kong Limited
NITI Aayog
J ;& P Coats
Puma
BIRLA CENTURY A DIVISION OF CENTURY TEXTILES AND INDUSTRIES
Cat Tuong Real Estate Group Joint Stock Company
MAS Active / MAS Kreeda / MAS Bodyline
Arvind Limited
Gatsby Africa
Tommy Hilfiger
Rayonese Textile Inc., Division de Culp Inc.
Permoda(Koaj/Armi/Pronto/Bkul)
LC Waikiki
Guess Europe Sagl,
Restoque S.A.
Midas Clothing Limited
Recron Polyester from Reliance Industries Limited

January 2022

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


Advanced Search