Shares of Vince Holding Corp. rose 1.6 percent Thursday after the firm posted its first quarterly earnings report as a public company, having completed its public offering in November.
For the three months ended Feb. 1, the company said net income was $582,000, or 2 cents a diluted share, against a net loss of $11.6 million, or 44 cents, last year. On an adjusted basis, excluding in part the impact of non-Vince businesses prior to November’s initial public offering and certain public company transition costs, net income rose 15.1 percent to $8.7 million, or 23 cents a diluted share, from $7.6 million, or 20 cents, a year ago. Net sales rose 20.5 percent to $87.8 million from $72.8 million. Same-store sales gained 12.2 percent in the quarter.
A Stella McCartney sketch of a custom dress made from protein-based silk in partnership with biotech lab Bolt Threads. The dress will be displayed at The Museum of Modern Art's upcoming design exhibition, "Items: Is Fashion Modern?"