Vince Holding (VNCE) Misses Q3 EPS by 20c; offers outlook

Vince Holding (NYSE: VNCE) reported Q3 EPS of $0.15, $0.20 worse than the analyst estimate of $0.35. Revenue for the quarter came in at $80.2 million versus the consensus estimate of $89.24 million.

OUTLOOK

For the fourth quarter of fiscal 2024 the Company expects total company net sales to be down mid-single-digits to up low-single digits compared to $75.3 million in the fourth quarter of fiscal 2023. The Company expects fourth quarter fiscal 2024 total company operating margin to increase 200 basis points to 300 basis points compared to total company operating margin of (2.2)% in the fourth quarter of fiscal 2023.

For full year fiscal 2024 the Company continues to expect total company net sales to decrease in the low-single-digit range compared to $292.9 million in fiscal 2023. The Company continues to expect full year fiscal 2024 total company operating margin, excluding the $7.6 million Gain on Sale of Subsidiary recorded in the first quarter, to increase 25 basis points to 50 basis points compared to total company adjusted operating margin of 1.4% in fiscal 2023. This outlook includes an approximate 140 basis point negative impact from non-comparable royalty expenses through May 2024.

For earnings history and earnings-related data on Vince Holding (VNCE) click here.

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