NewsNovo
Net sales at Vince climbed 11.7 percent to $81.8 million in the three months ended Aug. 1, and the company raised its full-year sales and earnings-per-share outlook.
The headline adjusted operating income figure, $16.4 million against $5.5 million a year ago, carries $10.4 million in tariff refunds.
Net income actually fell to $10.6 million from $12.1 million, or 80 cents per diluted share from 93 cents. The channel picture holds up better. Direct-to-consumer sales rose 13.7 percent.
Chief executive Brendan Hoffman told WWD that the contemporary segment is a "sweet spot," with luxury customers trading down into the brand.
Keep reading