Latest news with #BrendanHoffman
Business Wire
07-07-2025
- Business
- Business Wire
Vince to Participate in Virtual Fireside Chat Hosted by Small Cap Consumer Research
NEW YORK--(BUSINESS WIRE)--Vince Holding Corp., (NYSE: VNCE) ('VNCE' or the 'Company'), a global contemporary retailer, today announced that Brendan Hoffman, Chief Executive Officer, and Yuji Okumura, Chief Financial Officer, will participate in a fireside chat hosted by Eric Beder from Small Cap Consumer Research on Thursday, July 10, 2025 at 12:00 p.m. Eastern Time. The event will be webcast live and can be accessed on the Company's Investor Relations website, An online archive will be available on that site following the fireside chat. ABOUT VINCE HOLDING CORP. Vince Holding Corp. is a global retail company that operates the Vince brand women's and men's ready to wear business. Vince, established in 2002, is a leading global luxury apparel and accessories brand best known for creating elevated yet understated pieces for every day effortless style. Vince Holding Corp. operates 44 full-price retail stores, 14 outlet stores, and its e-commerce site, as well as through premium wholesale channels globally. Please visit for more information. This press release is also available on the Vince Holding Corp. website (
Yahoo
19-06-2025
- Business
- Yahoo
Vince reports 2.1% dip in Q1 sales and withdraws FY25 guidance
Global retail company Vince Holding has reported total net sales of $57.9m in the first quarter (Q1) of the fiscal year 2025 (FY25) - down 2.1% compared to $59.2m in Q1 FY24. The decrease has been attributed to store closures and remodels impacting the direct-to-consumer segment. Vince CEO Brendan Hoffman stated that the 'performance was relatively in line with our expectations [...] As an organisation, we quickly pivoted all efforts in the latter portion of the quarter to develop and put into action mitigation plans in light of the evolving tariff policies. 'In short order we have diversified our supply chain, negotiated with vendors and leveraged other opportunities to mitigate near-term costs. As we look ahead, we will continue these efforts along with providing customers a high quality product offering and an engaging experience across our channels." The wholesale segment saw a marginal increase of 0.1% in sales to $30.3m, while the direct-to-consumer segment sales fell 4.4% to $27.6m. Gross profit stood at $29.2m, a slight decrease from the $29.9m reported in Q1 FY24. The company cited higher freight and duty costs, changes in the wholesale channel mix, and increased distribution and handling expenses as the main contributors to the reduced gross margin rate. These were partially mitigated by lower product costs and reduced promotional activity. Selling, general, and administrative expenses rose to $33.6m, driven by increased marketing, advertising, legal, IT and third-party costs, and expenses related to store remodels and relocations. The company experienced a loss from operations of $4.4m, compared to a $5.6m income from operations in Q1 FY24. Vince reported a net loss of $4.8m - a significant change from the net income of $4.4m in the same quarter of the previous year. Adjusted earnings before interest, taxes, depreciation and amortisation (EBITDA) was reported at a loss of $3m, compared to a $1.5m loss in the preceding year. The number of company-operated Vince stores decreased by four and it ended the quarter with 58 stores. At the end of Q1 FY25, Vince's total borrowings were $34.7m, with $20.4m of excess availability under its revolving credit facility. Net inventory stood at $62.3m - an increase from $56.7m at the end of Q1 FY24. Looking ahead to the second quarter of FY25, Vince expects net sales to be down by a maximum of 3%, with adjusted EBITDA as a percentage of net sales ranging from 1% to 4%. In May 2023, the company completed a strategic partnership with Authentic Brands Group, which includes a long-term licence agreement for the usage of intellectual property in line with Vince Holding's current operations. "Vince reports 2.1% dip in Q1 sales and withdraws FY25 guidance" was originally created and published by Retail Insight Network, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Sign in to access your portfolio
Fibre2Fashion
18-06-2025
- Business
- Fibre2Fashion
American retailer Vince reports $4.8 mn Q1 loss, suspends FY25 outlook
American retailer Vince Holding Corp has reported net sales of $57.9 million in the first quarter (Q1) of fiscal 2025 (FY25) ended May 3, reflecting a decline of 2.1 per cent year-on-year (YoY). The drop was primarily attributed to store closures and remodels, which weighed on the direct-to-consumer (DTC) segment, where sales fell 4.4 per cent to $27.6 million. The gross profit of the company totalled $29.2 million, representing 50.3 per cent of net sales. The gross margin contraction was driven by higher freight, duty, distribution, and wholesale mix costs. These pressures were partly offset by improved product pricing, lower input costs, and reduced promotional activity, Vince said in a press release. Vince Holding Corp has reported net sales of $57.9 million in Q1 FY25, down 2.1 per cent YoY, impacted by store closures and a 4.4 per cent drop in DTC sales. Gross profit stood at $29.2 million. The company posted a net loss of $4.8 million and adjusted EBITDA of -$3 million. Vince forecasts Q2 sales to be flat or down 3 per cent, with no full-year guidance due to tariff uncertainties. Selling, general, and administrative (SG&A) expenses rose to $33.6 million, or 58 per cent of sales. Vince posted an operating loss of $4.4 million, compared to an adjusted loss of $2 million in the same period last year. Adjusted EBITDA came in at -$3 million. The net loss for the quarter stood at $4.8 million or $0.37 per share, against an adjusted net loss of $3.3 million or $0.26 per share in Q1 FY24. The company did not recognise a tax benefit due to the anticipated non-realisation of year-to-date losses. Vince ended the quarter with 58 company-operated stores, down by four from a year ago. Segment-wise operating income declined to $8.6 million, compared to $10.1 million in the prior year period. 'I continue to be encouraged by the strong execution and commitment to excellence I see across our organisation, and while we are navigating a challenging environment marked by uncertainty, our first quarter performance was relatively in line with our expectations,' said Brendan Hoffman, chief executive officer (CEO) at Vince . 'As an organisation, we quickly pivoted all efforts in the latter portion of the quarter to develop and put into action mitigation plans in light of the evolving tariff policies. In short order we have diversified our supply chain, negotiated with vendors, and leveraged other opportunities to mitigate near-term costs. As we look ahead, we will continue these efforts along with providing customers a high-quality product offering and an engaging experience across our channels,' added Hoffman. Looking ahead to Q2 FY25, the company forecasts net sales to be flat or decline by up to 3 per cent. The operating income is projected to range from a 1 per cent loss to a 1 per cent gain of net sales, while adjusted EBITDA is expected to be between 1 and 4 per cent of sales. Given the uncertainty related to the potential impact and duration of current tariff policy, the company is not providing guidance for the full fiscal 2025, added the release. Fibre2Fashion News Desk (SG)
Fashion Network
18-06-2025
- Business
- Fashion Network
Vince swings to profit loss on sales decline
Vince Holdings announced on Tuesday sales fell 2.1% to $57.9 million, resulting in the U.S. luxury fashion brand swinging to a profit loss for the three months. The New York-based company said sales for the quarter ending May 3 were hurt by declining retail store channel sales in the direct-to-consumer segment, as a result of store closures and renovations during the three months. As a result, the fashion firm swung to an earnings loss of $4.8 million or a loss $0.37 per share in the quarter, compared to net income of $4.4 million or $0.35 per share in the same period last year. "I continue to be encouraged by the strong execution and commitment to excellence I see across our organization, and while we are navigating a challenging environment marked by uncertainty, our first quarter performance was relatively in line with our expectations," said Brendan Hoffman, chief executive officer of Vince Holdings. "As an organization, we quickly pivoted all efforts in the latter portion of the quarter to develop and put into action mitigation plans in light of the evolving tariff policies. In short order we have diversified our supply chain, negotiated with vendors, and leveraged other opportunities to mitigate near-term costs." Given the uncertainty related the ongoing tariff launches in the U.S., the company said it is not providing guidance for the full-year 2025. "As we look ahead, we will continue these efforts along with providing customers a high quality product offering and an engaging experience across our channels," added Hoffman. At the end of the quarter, the firm counted 58 Vince stores, a decrease of 4 stores since the same period last year.
Fashion Network
18-06-2025
- Business
- Fashion Network
Vince swings to profit loss on sales decline
Vince Holdings announced on Tuesday sales fell 2.1% to $57.9 million, resulting in the U.S. luxury fashion brand swinging to a profit loss for the three months. The New York-based company said sales for the quarter ending May 3 were hurt by declining retail store channel sales in the direct-to-consumer segment, as a result of store closures and renovations during the three months. As a result, the fashion firm swung to an earnings loss of $4.8 million or a loss $0.37 per share in the quarter, compared to net income of $4.4 million or $0.35 per share in the same period last year. "I continue to be encouraged by the strong execution and commitment to excellence I see across our organization, and while we are navigating a challenging environment marked by uncertainty, our first quarter performance was relatively in line with our expectations," said Brendan Hoffman, chief executive officer of Vince Holdings. "As an organization, we quickly pivoted all efforts in the latter portion of the quarter to develop and put into action mitigation plans in light of the evolving tariff policies. In short order we have diversified our supply chain, negotiated with vendors, and leveraged other opportunities to mitigate near-term costs." Given the uncertainty related the ongoing tariff launches in the U.S., the company said it is not providing guidance for the full-year 2025. "As we look ahead, we will continue these efforts along with providing customers a high quality product offering and an engaging experience across our channels," added Hoffman. At the end of the quarter, the firm counted 58 Vince stores, a decrease of 4 stores since the same period last year.
