Vince Sees Improvement in First Quarter
4 monthes ago - By WWD
Vince Holding Corp., showing more progress in its turnaround efforts, managed to cut its loss in the first quarter to $5.6 million, or 49 cents a share, from the net loss of $9.3 million, or $1.88, in the year-ago period.
The improvement came despite a 6.1 percent decline in net sales to $54.5 million for the first quarter ended May 5, from $58 million a year ago. The company has reinstituted annual guidance, reflecting increased confidence in managing the business.
Wholesale sales decreased 19.5 percent to $28.5 million, which was “in line with expectations” and primarily due to the...
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