Vince Holding (VNCE) Tops Q3 EPS by 2c
Vince Holding (NYSE: VNCE) reported Q3 EPS of $0.35, $0.02 better than the analyst estimate of $0.33. Revenue for the quarter came in at $102.9 million versus the consensus estimate of $99.4 million.
Comparable store sales increased 5.2% over the third quarter of fiscal 2013. Including ecommerce sales, comparable sales increased 8.0%.
Jill Granoff, Chairman and Chief Executive Officer of Vince, commented, "It was another strong quarter for the Vince brand. We delivered total sales growth of 20.0% as we again achieved double-digit increases across all distribution channels. In our wholesale segment, sales grew over 17% driven by the strong performance in both our domestic and international markets. In the direct-to-consumer segment, we delivered growth of over 30% as we drove solid comparable store sales growth, benefited from 10 new store openings and continued to see strong momentum in our e-commerce business. In addition, we increased adjusted net income by over 25% while investing in our strategic growth initiatives."
Vince Holding sees FY2014 EPS of $0.90 - $0.94, versus the consensus of $0.94. Vince Holding sees FY2014 revenue of $335 - $345 million, versus the consensus of $344.96 million.
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