×
159
Fashion Jobs
PUMA
Junior Manager go-to-Market Operations Nordic
Permanent · Solna
PUMA
Senior Key Account Manager Running Nordic
Permanent · Solna
PUMA
Senior Marketing Manager Cobra Puma Golf Europe
Permanent · Solna
PUMA
Strategic Key Account Manager Pure Players
Permanent · Solna
LEVI'S
Key Account Manager
Permanent · Stockholm
H&M
Global Head of Marketing h&m Sport
Permanent · Stockholm
H&M
Project Leader For Material Certification And Material Trademark Within Group Compliance
Permanent · Stockholm
PUMA
Project Manager IT Sap
Permanent · Solna
H&M
Art Director – h&m Group Communications
Permanent · Stockholm
H&M
Data Analyst to Predictive Analytics Team @h&m Business Tech
Permanent · Stockholm
H&M
Data Analyst to an Inventory Optimization Team in Business Tech
Permanent · Stockholm
H&M
Business Minded Data Specialist to h&m Group
Permanent · Stockholm
H&M
Scrum Master (Service Now) to Support And Operations Toolings Team at h&m Business Tech
Permanent · Stockholm
H&M
we Are Looking For Business Intelligence Analysts to Group Expansion, h&m
Permanent · Stockholm
H&M
Business Intelligence Analyst
Permanent · Stockholm
H&M
Cyber Security Trainer
Permanent · Stockholm
H&M
Security Advisor
Permanent · Stockholm
H&M
h&m is Looking For a Business Expert For Allocation Precision
Permanent · Stockholm
H&M
Power bi Specialist to Kpi Dashboards Within Business Tech
Permanent · Stockholm
H&M
ai Learning & Development Manager
Permanent · Stockholm
H&M
Import-Export Manager to h&m Distribution Centre in Eskilstuna
Permanent · Eskilstuna
H&M
Scrum Master to Support & Operation Tooling, Monitoring & Insights Team at h&m Business Tech
Permanent · Stockholm
Published
Dec 13, 2021
Reading time
2 minutes
Share
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

Vince posts 27% increase in Q3 sales

Published
Dec 13, 2021

New York-based fashion group Vince Holding Corp. achieved net sales of $87.5 million in the third quarter ended October 30, 2021, up 26.7% from $69.0 million in the same period in the previous year, as the company saw solid growth across its brand portfolio.


Direct-to-consumer sales at Vince's namesake brand rose more than 50% year over year in Q3 - Instagram: @vince

 
Quarterly sales in the group’s namesake Vince brand rose 27.3% year over year, from $61.6 million to $78.4 million. This reflected a 10.0% increase in wholesale revenues, which totaled $42.6 million, and 56.5% growth in direct-to-consumer sales, which were $35.7 million.
 
The company’s Rebecca Taylor and Parker business posted third-quarter net sales of $9.1 million, up 22.0% from $7.5 million in the prior-year period.

Full-company net income for Q3 was $2.2 million, or $0.18 per diluted share, down from $5.0 million, or $0.42 per diluted share, in the third quarter of 2020. This decline reflected an increase in selling, general and administrative expenses related to higher payroll and compensation costs and larger investments in marketing, as well as to the landlord rent concessions secured by the company in the third quarter of last year.
 
The company’s income in Q3 2021 also included an expense of $1.5 million related to the termination of its 2018 term loan facility.
 
“Our third quarter performance reflects the ongoing strength in our Vince brand,” said Vince CEO Jack Schwefel in a release. “Product and engagement continue to resonate with customers, and although we are facing challenges to our supply chain, our strong brand equity and high customer demand demonstrate the long-term opportunity of this brand.”
 
Year to date, Vince’s total net sales were $223.7 million, up 54.2% from $145.1 million in the first nine months of 2020. The company’s net loss for the period was $10.0 million, or $0.84 per diluted share, compared to a loss of $58.3 million, or $4.96 per diluted share, a year ago.
 
As Vince moves into the fourth quarter, Schwefel said that the company continues to focus on developing its e-commerce capabilities, elevating its marketing strategies, and driving growth in both its menswear business and international operations.
 
The company currently operates 83 stores under the Vince and Rebecca Taylor banners.

Copyright © 2022 FashionNetwork.com All rights reserved.