Vince Holding (VNCE) Tops Q2 EPS by 2c, Reaffirms Outlook
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Vince Holding (NYSE: VNCE) reported Q2 EPS of ($0.04), $0.02 better than the analyst estimate of ($0.06). Revenue for the quarter came in at $60.7 million versus the consensus estimate of $64.15 million.
- Total net sales are still expected to be between $290 million and $305 million, including revenues from six new retail stores and comparable sales growth inclusive of ecommerce sales in the flat to low-single digit range;
- Gross margin is now expected to be approximately 46.2%, mainly due to additional strategic investments, as well as the higher rate of sales allowances and lower mix of full-price sales in the first half;
- SG&A is now expected to be between $128 million and $133 million, contingent upon the level of annual incentive compensation programs to be realized in fiscal 2016;
- Interest expense is still expected to be approximately $4 million;
- Diluted EPS is still expected to be $0.00 to $0.06. Note that the EPS guidance reflects a share count of approximately 46.6 million, which includes the impact of 11.8 million shares issued in connection with the rights offering; and
- Capital expenditures are now expected to be between $12.5 million and $14.5 million, due to additional branding initiatives, as well as an increase in the Company’s IT migration investment.
For earnings history and earnings-related data on Vince Holding (VNCE) click here.
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