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.
To celebrate Pride 2018, @themarcjacobs released the #GratefulNotHateful campaign, a social media initiative aimed at extending Pride beyond the parade. Inspired by Jacobs’ everyday outlook, the campaign features Jacobs along with a group of models and social media stars who are members and supporters of the LGBT community, all seen wearing @marcbeauty’s Highliner Gel Eye Crayons in colors of the rainbow. Head to our Instagram stories to see close-ups of the liner. #wwdbeauty
Virgil Abloh’s dad Nee and Don Crawley, cofounder of RSVP Gallery, were some of the hometown crew at the Chicago-born designer’s debut show for Louis Vuitton. (📸: @jdiderich ) #wwdmens #louisvuitton #virgilabloh
About last night: @marycharteris and @adwoaaboah hit up Hyde Park for the Serpentine Galleries’ annual summer party held in partnership with @chanelofficial. Head to WWD.com to see more photos. #wwdfashion
“This is Paris, my first show. I’m all about democracy. If some kid shows up, flew from New Jersey to just be around, let’s get him a seat.” — @virgilabloh tells WWD’s @jdiderich ahead of his first show for @louisvuitton men’s. (📸: @alfredo_piola ) #wwdmens #virgilabloh #louisvuitton
“Kate Spade was a true fashion icon who brought joy to the lives of women around the world, and inspired women to live life to the fullest. We are dedicated to carrying on her legacy,” said Anna Bakst, brand president and chief executive officer of @katespadeny. The Kate Spade Foundation announced that it will be donating $1 million to suicide prevention and mental health awareness in tribute to the recent death of Kate Spade. Read more on WWD.com. #wwdnews (📷: @chinseephoto)
A first look at @virgilabloh’s sneakers for @louisvuitton. Abloh spoke to WWD about his debut collection for Louis Vuitton, creating @kendalljenner’s #metgala outfit and redefining the heritage brand. Read the full story on WWD.com. #wwdfashion 📷: @alfredo_piola)
The world’s largest producer of denim @iskodenim is sharing the strategy behind its product development process. Read our full interview with ISKO’s product development manager Baris Ozden on the company’s extensive research practices, upcoming denim trends and the latest material innovations on WWD.com. #iskodenim