Sometimes even beating Wall Street’s expectations and raising guidance aren’t enough for investors.That was the case for Vince Holding Corp., which on Wednesday saw its shares fall even though the apparel brand beat expectations, raised guidance for fiscal 2014 and posted higher margins. Shares of Vince on Wednesday fell 11.5 percent to close at $34.27 in Big Board trading over possible disappointment that its revised forecast might be too low given that it beat Wall Street’s estimates by 4 cents.For the three months ended Aug. 2, net income was $10.5 million, or 27 cents a diluted share, against a net loss of $10.5 million, or 40 cents, a year ago. The current quarter includes the impact of a secondary offering, while the year-ago result includes the impact of transition costs to a public company. Vince completed its initial public offering in November 2013. On an adjusted basis excluding the secondary and the transition costs, net income rose 24.1 percent to $10.8 million, or 28 cents a diluted share, from $8.7 million, or 23 cents, a year ago. Adjusted EPS of 28 cents was better than Wall Street’s consensus of 24 cents.Net sales rose 20.2 percent to $89.3 million from $74.3 million. Wall Street was expecting $83.9 million. Comparable-store sales grew 7.1 percent, while wholesale sales grew 17 percent.For the six months, net income was $11.9 million, or 31 cents a diluted share, on a 24.5 percent gain in sales to $142.8 million. The company’s gross margin rate was 49.3 percent from 45.3 percent a year ago, representing an increase of 400 basis points. The company raised its forecast for fiscal 2014 adjusted diluted earnings per share to a range of 90 cents to 94 cents from 88 cents to 92 cents.In an interview, Jill Granoff, chairman and chief executive officer, said the expanded assortment in women’s to include dresses and outerwear was a move to go beyond “just dominating the whole sweater, blouse and tops arena.”The company has also upped the fashion content of its men’s offerings as it transitions to a dual-gender brand.While still keeping everyday basics for casualwear, men’s now includes “signature branding details, a leather category with elevated skins, and a casual luxury sweater business featuring cashmere and pima Ts, as well as slub jerseys….These are clothes to wear to work or out to dinner Saturday night,” Granoff said. She added that there are currently two men’s shops-in-shop, and there are plans to open between 10 and 14 more during the fall.The company also will show a capsule collection of its new handbag line in select locations ahead of holiday. The line will have three distinct categories, designed under the eye of Vince president and chief creative officer Karin Gregersen. The Vince Signature Collection features clean silhouettes, such as structured totes, cross-bodies and clutches, done in leather and stamped croc. The Modern V collection includes more relaxed styles, such as satchels and cross-bodies done in pebbled leather. Finally, the Cut-Out collection is the most distinctive of the group, featuring cutout detailing done in black and white. The pre-fall color palette features Vince’s signature neutrals, as well as bright blues, reds, and a range of gray hues.
La Double J made a name for itself with its vintage-inspired prints, but for resort, designer JJ Martin has ventured into new territory: enter rich jewel toned solids and decadent embellishment, in the form of appliqués, crystals and sequins. #wwdfashion #resort19 #ladoublej
This Just In: J. Crew Group has named Johanna Uurasjarvi as its chief design officer.
Uurasjarvi succeeds Somsack Sikhounmuong, who left the company last September. Tap the link in bio for the full report. #wwdnews
“She came into my hotel room and she was like, ‘I have Chanel and Christian Dior.’ She was like, ‘Chanel likes you.’ And I was like, ‘I’m going to start crying,’” breakout star Maddie Hasson tells WWD of her styling sessions Molly Dickson. “I really like classic, elegant things. I love the way Anna Wintour dresses.” Read more about Hasson’s role in @impulseseries on wwd.com. (📸: @jgreenery ) #wwdeye
@virgilabloh revealed he's working with Australian stylist and
Vogue Australia fashion director @christinecentenera for his debut @louisvuitton men's collection, which will be presented in Paris on June 21. Centenera met Abloh while both working with Kanye West, where she consulted on his all his runway collections since his debut spring 2012 women's wear show. Read the full story on WWD.com. #wwdfashion #wwdnews (📷: @asussmanphoto)
"In order for Shudu to wear garments, she needs to be able to put them on, just like you would in the real world. You have to digitize the outfits," said Cameron-James Wilson on dressing 3-D model @shudu.gram for her WWD photoshoot with @itsclo3d. #wwdfashion (📸: @cjw.photo)
“Shudu is a digital supermodel, a very glamour and amazing woman. But she’s 3-D,” says Cameron-James Wilson, a fashion photographer and the creature of @shudu.gram. Here, Shudu wears @cushnieetochs for her debut fashion editorial. #wwdfashion (📷: @cjw.photo)
“It is the fierce female performances that came before me that made be able to clearly identify for myself what it was that I wanted to do, what kind of artist I wanted to be, what kind of films I wanted to make,” said @brielarson at the Women in Film Crystal + Lucy Awards. See more pictures from the event on WWD.com. #wwdeye (📷: Matt Baron)