US Apparel Retailer Vince Profits In The Two Quarter To Raise Annual Expectations

Fashion retailer Vince Holding Corp. (NYSE:VNCE) lost profits in the two quarter and raised its annual forecast.

In the two quarter ended August 2nd, Vince Holding Corp. (NYSE:VNCE) achieved a net profit of $10 million 500 thousand, or earnings per share of $0.27, compared with a net loss of $10 million 500 thousand in the same period last year, or a loss of 0.40 US dollars per share.

Excluding disposable items, adjusted net profit increased from $8 million 700 thousand last year to $10 million 800 thousand, adjusted earnings per share rose from $0.23 to $0.28, exceeding the net profit of $0.23.

The expected $0.24.

In the two quarter, revenue rose by 20.2% to $89 million 300 thousand, and the market forecast was $83 million 920 thousand, compared with $74 million 300 thousand a year ago.

Retail sales of same store sales recorded 7.1% of the increase, 19 consecutive quarterly growth, wholesale sales increased by close to 17% compared with the same period last year, mainly driven by women's clothing and footwear agency business.

Gross margin increased by 400 basis points to 49.3%.

Due to the two quarter

Good. Vince Holding Corp. (NYSE:VNCE) raised the earnings per share from the previous 0.88-0.92 US dollar to US $0.90-0.94.

However, Vince Holding Corp. (NYSE:VNCE) shares still plunged 5.78% to 36.5 dollars in the pre trading session on Wednesday.

The stock closed at $38.94 on Tuesday, up 6.78%.