Luxury apparel brand and retailer Vince Holding Corp said it has lowered its previously announced sales and EPS guidance for the full fiscal, and now expects it to be at or below the low end of the guidance. This was done, due to a shift in the timing of a larger than planned portion of the Spring collection shipments from late January to early February.
The guidance has also been changed due to a softer than expected sales performance during the holiday season.Luxury apparel brand and retailer Vince Holding Corp said it has lowered its previously announced sales and EPS guidance for the full fiscal, and now expects it to be at or below the low end of the guidance. This was done, due to a shift in the timing of a larger than planned portion of the Spring collection shipments from late January to early February.#
“Despite a solid Black Friday week and improved trends towards the end of December, sales for the holiday season were softer than we anticipated,” CEO Brendan Hoffman said. “While direct-to-consumer segment sales results were near the low end of our guidance range in the holiday season, they were better than sell-through performance in the wholesale segment.” (AR)
ALCHEMPro News Desk – India
marketing@alchempro.com
