Domestic, Int'l Sales Drive Q3 'Beat' for Vince Holdings (VNCE) - Stifel

Stifel maintains Vince Holding (NYSE: VNCE) at Hold following Q3 results and reaffirmed FY14 outlook.

Analyst Richard Jaffe note that Vince reported Q3 EPS of $0.35, topping his estimate by 2 cents. The analyst offered the following initial key takeaways:

• Wholesale Increased 17% in 3Q – Wholesale grew 17% in 3Q, driven by strong performance in both domestic and international markets.
• DTC up 30% - Direct to consumer sales (approximately 20% of total sales) increased 30% in 3Q, aided by comparable-store sales growth of 8%, the addition of 10 new stores, and strength in the e-commerce business, which likely continues to benefit from the website re-launch in February.
• 2014 Guidance Reiterated – The company reiterated its 2014 EPS guidance in the range of $0.90-$0.94. With our estimate and consensus at $0.29 for 4Q, this implies $0.96 in EPS for 2014. This will likely result in moderately lower earnings revisions for 4Q and could modestly pressure shares today.

For an analyst ratings summary and ratings history on Vince Holding click here. For more ratings news on Vince Holding click here.

Vince Holding closed at $36.52 yesterday.

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