Shares of Vince rose 10.5 percent, or 62 cents, to $6.50 Wednesday morning after the contemporary fashion and accessories brand reported a comparable sales increase of 8.8 percent for the nine-week period ended Dec. 30.The company, which is in turnaround mode, also reported that its full-price stores and e-commerce business combined delivered a comparable sales increase of 15.9 percent for the holiday period.“We are thrilled with our holiday sales performance, which continued the strong trends that we saw toward the end of the third quarter," said Brendan Hoffman, chief executive officer. "The new product is resonating with our customers and driving double-digit comparable sales growth in our full price direct-to-consumer channels."We were also pleased with improved sell-through at our wholesale partners, which we believe bodes well for 2018 performance. We are working very closely with the wholesale partners we are exiting to ensure a smooth transition while protecting our brand equity."Hoffman has been working to turn around the Vince business since he joined the company in fall 2015. Last September, Hoffman said Vince would pump up its business with Neiman Marcus and Nordstrom, effective this year with the spring collection, while no longer selling Bloomingdale’s and Saks Fifth Avenue. However, the company also said that Vince shoes, which are the only licensed products in the line, will still be sold at Saks and Bloomingdale’s."Overall, we are excited about the momentum in our direct-to-consumer business and signs that we are beginning to recapture market share in existing wholesale doors,” Hoffman said.Aside from narrowing the distribution, the agenda includes opening stores with shorter leases and better terms, continuing to generate greater full-price selling of buy-now-wear-now product, and fine-tuning the assortment at outlets.[caption id="attachment_11093383" align="alignnone" width="200"] The Vince store on Melrose Avenue in Los Angeles.[/caption]Last year Vince reduced its debt, improved liquidity, completed a 1-for-10 reverse stock split to help regain compliance with the New York Stock Exchange for a continued listing, and returned to normal terms with key suppliers following trips to China.During the third quarter of 2017, there was a gain in net profits to $3.5 million, compared to $3.4 million in the year-ago period. Sales rose 4.1 percent to $79.1 million from $76 million, and comparable sales were up 4.4 percent.For the fiscal year ended Jan. 28, 2017, net sales at Vince decreased 11.3 percent to $268.2 million.
Supermodel @helenachristensen teamed up with longtime friend and designer @camillastaerk on a joint @paredeyewear collaboration. The lineup features three styles and 11 offerings, all of which embody a vintage feel. Get all the details on how they celebrated the collab on WWD.com. #wwdaccessories #wwdeye (📷: @slovekinpics)
“It’s a hard industry to keep motivated, as well, so finding different subjects and people is what makes it worth it – when you’re like, oh, I’ve met great people, I feel like I’ve done something good, and I feel proud of having done this,” said French actress Stacy Martin on being grateful for the variety of roles she’s take on. Read @ktauer’s full interview with Martin on her her latest film “Godard Mon Amour.” #wwdeye (📷: @danieldorsa)
After showing in front of the Eiffel Tower for his last two women’s ready-to-wear collection, it looks like @anthonyvaccarello may be heading to the Big Apple. Sources say the designer will stage his next @ysl show in NYC on June 6. Get all the details on WWD.com. #wwdnews #wwdfashion (📷: @aitorrosasphoto)
EXCLUSIVE: Two and half months after John Targon, cofounder and codesigner of Baja East, was hired as creative director of the contemporary division at Marc Jacobs, he has left the company, WWD has learned. Marc Jacobs International, which is owned by LVMH Moët Hennessy Louis Vuitton, confirmed Targon’s departure in a statement: “John Targon is a talented designer and we appreciate the work he has done here. Ultimately working together did not make sense for the brand and we wish him the best.” Read the story by @jessiredale, link in bio. #wwdnews
@theluxurycollection is officially launching a collection, tapping Sofia Sanchez de Betak for the capsule. Over 30 styles will be featured in the Chufy x The Luxury Collection, debuting next month at Bergdorf Goodman, The Webster, FiveStory and more. De Betak, known as “@chufy,” drew inspiration for the collection from her trips to Japan in the past year #wwdfashion
@lhd, founder and CEO of @thewebster, has teamed up with @lebonmarcherivegauche for the European launch of her ready-to-wear line, LHD. The launch will come with an exclusive pop-up opening today that’s set to run through May 20. Located on the second floor, it carries her debut Miami-themed resort collection, launched in November as see-now-buy-now. #wwdfashion