Vince Holding Swings To Profit In Q1; Lifts FY14 EPS View - Quick Facts

(RTTNews) - Vince Holding Corp (VNCE) Thursday posted first-quarter net earnings of $1.4 million or $0.04 per share compared with a net loss of $15.1 million or $0.58 per share in the prior-year period.

On average, 10 analysts polled by Thomson Reuters expected break-even earnings for the quarter.

Last year's first-quarter loss included the impact of public company transition costs and results of the non-Vince businesses that were separated on November 27, 2013.

Quarterly sales climbed 32.4 percent to $53.5 million from $40.4 million during the first quarter of fiscal 2013. Comparable store sales increased 11.1 percent year-over-year. Analysts estimated sales to be $48.77 million.

For fiscal 2014, the group now expects earnings per share in the range of $0.88 -$0.92 versus the previous range of $0.85 to $0.90. The firm expects to achieve revenues in the range of $325 million- $340 million. Analysts project annual earnings of $0.88 per share on revenues of $335.27 million.