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.
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.
“Azzedine has been one of the biggest influences in my life. He has always been such a strong, loving, fatherly figure to me. I call him Papa. His designs are indescribably unique, they are pieces of art. He knew how to make the female form look its loveliest. I have so many memories of him; my favorite might be during my first show with him in Paris. He liked me and he wanted to help me get more work. He called all his friends at Kenzo and Comme des Garcons, and asked them to book me. They said, ‘But she can’t walk!’ And he said, ‘but she has such a great ass!' His friendship and support has been the great privilege of my career. I can't imagine life without him. Repose en paix mon Papa.” - @stephanieseymour tells @wwd. #wwdfashion (📷: @steveeichner) #alaia #azzedinealaia
Azzedine Alaïa, flanked by two of his closest friends, models Stephanie Seymour and Naomi Campbell.
He designed Seymour’s dress for her 1995 wedding to Peter Brant, and treated Campbell (who famously called him Papa), like a daughter. For more on the legendary designer, tap the link in bio. #wwdfashion #alaia #azzedinealaia
Azzedine Alaïa's “I-did-it-my-way” ethos stood out starkly at a time when brands are experimenting with consumer-facing fashion shows, coed formats and trans-seasonal collections – anything to perk up lackluster sales of ready-to-wear in an age of Insta-everything. “It’s not creation anymore. This becomes a purely industrial approach,” the late designer told WWD in an interview last year. “But anyway, the rhythm of collections is so stupid. It’s unsustainable. There are too many collections.” Read more about the iconic designer’s life and work on wwd.com, link in bio. #wwdfashion #azzedinealaia (📷: @WWD Archive, 1986) #alaia
Sneaker reselling app @goat’s latest exhibit, "The Greatest: New York," tells the story of New York's sneaker culture. To celebrate the exhibit, an intimate crowd gathered on Thursday night at the pop-up gallery space, located at Platform in Culver City, to hear guest speaker and illustrator @esymai talk about her own rise in streetwear and women in the business. "For me I'm just someone who is creative. I like to create things," said Chang. #wwdfashion
Azzedine Alaïa, one of the most iconic couturiers of the modern era whose body-con designs defined Eighties fashion, has died in Paris. The diminutive Tunisian-born designer, known for his structured knitted dresses with fitted waists and impeccably cut, figure-hugging second skin silhouettes was deeply admired by his peers, and counted supermodel Naomi Campbell - his adoptive daughter - among his inner circle, one of a gang of glamazons including Farida Khelfa, Carla Bruni and Stephanie Seymour who became ambassadors of his style. (📷: Alexandre Guirkinger) #wwdblast