Vince’s Q4 Results Show Growth

Vince Holding Corp. posted profit increases for the fourth quarter and full year. For the three months ended Jan. 31, net income was $10.5 million, or 28 cents a diluted share, from $582,000, or 2 cents, a year ago. Net sales rose 7.9 percent to $94.7 million from $87.8 million. Comparable-store sales were up 8.7 percent. RELATED CONTENT: WWD Earnings Tracker >> The company completed its initial public offering in November 2013. Results on a nonadjusted basis for the same 2013 quarter include items such as public company transition costs and the inclusion of the non-Vince businesses that were separated upon completion of the IPO. Jill Granoff, chairman and chief executive officer, said, “We delivered record sales in 2014, with double-digit increases across all product categories and distribution channels.” She noted that adjusted profits grew 29 percent, driven primarily by better than expected gross margin expansion of 280 basis points. For 2015, the company is forecasting diluted earnings per share in the $1.00 to $1.05 range on total net sales of between $360 million to $370 million. Click Here for the WWD Global Stock Tracker >>

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