Earnings and Revenue Top Expectations Vince Holding Corp. (NASDAQ:VNCE) reported first-quarter results that exceeded Wall Street forecasts, although the luxury fashion retailer’s shares slipped about 3% in premarket trading on Tuesday following the announcement.
For the quarter ended May 2, the company posted a loss of $0.16 per share, outperforming analyst expectations of a $0.37 per share loss
Revenue increased 10.5% year over year to $64.0 million, ahead of the consensus estimate of $60 million. Growth Driven by Retail and Wholesale Strength The company’s sales performance was supported by gains across both of its primary business channels. Direct-to-consumer revenue rose 15.6% compared with the prior-year period, while wholesale revenue increased 5.9%.
The results reflected continued demand for the Vince brand across both company-operated and partner distribution channels. Margins Improve Despite Tariff Pressure Gross profit climbed to $32.4 million, representing 50.6% of net sales, compared with $29.2 million, or 50.3% of net sales, in the same quarter last year. The improvement in gross margin was driven by stronger pricing and reduced promotional activity.