Vince Holding Corp.’s expects its fourth-quarter profits to meet or exceed analysts’ consensus estimates after posting a 20.5 percent increase in fourth-quarter sales.The New York-based contemporary fashion brand, which went public in November, generated sales of $87.8 million in the 13 weeks ended Feb. 1, up from $72.8 million during the 14-week year-ago period. Comparable-store sales were up 12.2 percent, the company said, marking its 17th consecutive quarter of comp growth.RELATED CONTENT: WWD Earnings Tracker >>Based on preliminary and unaudited results for the quarter, Vince expects adjusted earnings for the quarter of between 21 and 23 cents versus expectations among analysts, on average, for earnings per share of 21 cents. The EPS projection excludes, among other items, costs associated with its initial public offering and the separation of the non-Vince businesses with which it was formerly grouped at Kellwood Co. Revenues fell slightly below the consensus estimate of $88.2 million, contributing to a 3.1 percent decline in Vince shares, which closed Thursday at $26.08 in New York Stock Exchange trading.“We achieved record fourth-quarter and full-year sales performance for fiscal 2013, with continued double-digit growth in both our wholesale and direct-to-consumer segments,” said Jill Granoff, chief executive officer of Vince. “During the fourth quarter, wholesale grew by approximately 17 percent as a result of strong sales performance with our domestic department-store partners, as well as increased penetration in key international markets and higher licensing revenues from our women’s footwear business.” Direct-to-consumer revenues were up 37 percent, she said, based on the growth in comps, the addition of six stores “and solid sales growth in our e-commerce channel.” For the full 52-week year, Vince’s sales rose 19.9 percent to $288.2 million versus the 53-week prior year and were ahead 29.7 percent on a comparable 52-week basis. Adjusted EPS for the year is estimated to be 71 to 73 cents on a diluted basis. The company will report full results on March 27.
Exclusive: @isabelmarant and @lorealmakeup have teamed up to create a capsule makeup collection. "She is rather natural in the day but doesn't have time to go back home before going out [in the evening] and redo her entire beauty look," said Marant on the 5 products included in the collection, which will launching in September. Read @jenniferbethweil's interview with the designer on WWD.com. #wwdnews #wwdbeauty
After 17 years, Tomas Maier is leaving @bottegaveneta. “I am deeply grateful to him and I personally thank him for the work he accomplished, and for the exceptional success he helped to achieve,” said François-Henri Pinault, head of parent company @kering_official. Head to WWD.com for more on his departure. #wwdnews #wwdfashion (📷: Davide Maestri)
@shaymitchell is no stranger to teaming up with beauty brands, but she’s made her latest partnership official: She’s signed with @buxomcosmetics as global creative brand ambassador, WWD learned exclusively. Mitchell and Buxom will collaborate on campaign development, social media strategy and content and new product and shade development. Read more on WWD.com. #wwdbeauty (📷: @clint_spaulding)
Today we’re at the WWD Retail 20/20 Forum where industry leaders will be talking about the future of shopping for fashion, footwear and beauty. Tune in on Instagram Live at 9 am and 3:30 pm to hear from two of our speakers –– @therealreal’s Rati Levesque and @bandier’s Stephen Ippolito. #wwdsummits (📷: @elizaflorendo)
Seen last night at @coach’s launch party for “Life Coach,” an interactive pop-up in Soho: @joansmalls. Open now, visitors of the pop-up can engage in themes of “creativity and self-expression,” through tarot, carnival games, live performances and art. See the rest of the party pics on WWD.com. #wwdeye (📷: @vnina)
“We figure there’s enough cynicism to go around the world right now let’s go out there and be ourselves, let’s be enthusiastic, let’s have positive energy, which is something I think a lot of people really want and need right now,” said musician @joshgroban ahead of hosting the Tony Awards with @sarabareilles. Read @leighn’s interview with Groban on how he picked his look for the night, his next record and more on WWD.com. #wwdeye #tonyawards (📷: @vnina)
“Rock as an attitude and not a uniform. Street as a style and not just clothing. Sportswear as the new normality,” @paul_surridge said of his first @roberto_cavalli men’s wear collection, previewed here. The British designer joined the brand as the creative director in May 2017, and is gearing up to unveil his debut for the label with a runway show at the Florence Charterhouse on June 13 at #PittiUomo. Head to WWD.com to read more about his collection and see more sneak peek photos. #wwdfashion (📷: @simonelezzi)