Vince Holding Corp., benefited by new products and increased traffic at its stores, reported net sales for the fourth quarter ended Feb. 3, 2018 increased approximately 14 percent to $73 million, compared with $63.9 million in the fourth quarter of fiscal 2016.The preliminary, unaudited sales results released Monday exclude an estimated $1.5 million in sales from the quarter's 14th week.Direct-to-consumer segment sales increased about 17.5 percent to $34.5 million compared to the same period last year, excluding sales from the 14th week.Comparable sales increased approximately 16.1 percent on a 13-week basis, including e-commerce sales. Wholesale sales increased approximately 11.5 percent to $38.5 million. The company said the 14th week had an immaterial impact on the wholesale segment.“We are pleased to have delivered strong sales growth in the fourth quarter, as our new product continued to resonate well with customers," said Brendan Hoffman, chief executive officer of Vince. "We saw strong comparable-sales performance in our direct-to-consumer business with double-digit growth in both full-price retail stores and our e-commerce business as well as higher full-price sell-through."Hoffman said the company is making "good progress in transitioning customers from the department store partners we exited to our own retail stores. In fact, the largest comparable-sales increase was generated in stores located near locations that we exited." Last year, Hoffman said in 2018, Vince would focus its department store distribution on Neiman Marcus and Nordstrom, and no longer sell at Bloomingdale’s and Saks Fifth Avenue."We also expect improvement in operating income versus last year, excluding potential asset impairment charges," Hoffman said. "We are highly encouraged by both our partner and customer response to product and will remain focused on driving forward with our strategic initiatives."Vince is scheduled to report its fourth-quarter and full-year financial results on or around April 19.
The women's and men's luxury fashion firm, which is based in New York and has a design studio in Los Angeles, operates 41 full-price retail stores, 14 outlets and vince.com.
Donatella Versace will receive the International Award at the 2018 @cfda awards, which were announced tonight. Tap link in bio for a list of all the nominees and honorees. #wwdnews #wwdfashion (📷: @rahirezvanistudio )
The 2018 @cfda Awards nominees are out! @virgilabloh for @off____white for is nominated for Womenswear Designer of the Year. Tap link in bio for all the nominees. #wwdnews #wwdfashion ( 📷: @simonelezzi)
@chanelofficial is suing high-end vintage retailer @whatgoesaroundnyc for trademark infringement, a move that could cost the retailer millions. The French fashion house claims that it’s not only unintentionally sold counterfeit goods on occasion, but that it’s “gone out of its way to create an association with Chanel,” which does not exist. Read Chanel’s statement on WWD.com #wwdnews (@aitorrosasphoto)
Exclusive: Guillaume Henry has left @ninaricci, the fashion house said on Thursday. “After three years of mutually gratifying creative collaboration, Nina Ricci and Guillaume Henry have together decided that the designer will depart the house after the presentation of the fall-winter 2018-19 collection,” Ricci said in a statement. Get all the details on WWD.com #wwdfashion (📷: @aitorrosasphoto)
“When Bella enters a room all heads turn,” said @peterphilipsmakeup, creative and image director for @diormakeup. Last night, the two celebrated the product launch of Dior’s Lacquer Plump in Los Angeles with other celebs like @parisjackson, @winnieharlow and more. Head to WWD.com to see the rest of the photos from the night (📷: @chelsealaurenla) #wwdeye
“These shirts are an art form, it’s about getting the message out to as many people as you can. It breaks down the pretentiousness of the art gallery,” says Kumasi Sadiki, cofounder of @ebayontheblock, a store that sells merchandise by New York artists who are shifting their attention to clothes as a wearable medium. Pictured here is a design by artist @joegarvey_, one of the first to spearhead this movement. Head to WWD.com to read @mistywhitesidell full story on how their designs have become merch for the underground elite #wwdfashion
@netaporter is dedicating a part of its website – called the Fine Jewelry and Watch Destination – to highlight its high-end jewelry. The hub will feature products on the site, as well as incorporate styling advice and educational content about high-priced jewelry items. Get more details on WWD.com. #wwdaccessories
For “The Cher Show,” an upcoming musical based on @cher’s life and career, @bobmackie is once again collaborating with the singer in designing the costumes. For decades, Mackie has designed glitzy stage costumes and red carpet looks for the 71-year-old Grammy winner. Pictured here is a sketch of some of the pieces in the wardrobe of the musical, which is set to debut in Chicago on June 12 before making its way to Broadway #wwdeye