Vince Holding Swings To Profit In Q3 - Quick Facts

(RTTNews) - Vince Holding Corp. (VNCE) said its third-quarter net income amounted to $13.3 million, compared with a loss of $2.4 million last year, including public company transition costs and results of the non-Vince businesses that were separated on November 27, 2013.

Quarterly earnings per share were $0.35, as against a loss of $0.09 last year. Analysts polled by Thomson Reuters expected the company to report earnings of $0.33 per share for the quarter. Analysts' estimates typically exclude special items.

Net sales increased 20.0% to $102.9 million from $85.8 million in the third quarter of fiscal 2013. Wall Street analysts had a consensus revenue estimate of $99.41 million for the quarter. The wholesale segment rose by 17.3% to $78.9 million and the direct-to-consumer segment increased 30.2% to $24.0 million over the third quarter of fiscal 2013. Comparable-store sales grew by 5.2% year-over-year. Including ecommerce sales, comparable sales went up by 8.0%.

For fiscal 2014, the company now sees adjusted earnings per share of $0.90 to $0.94 and expects total net sales of $335 million to $345 million, including revenues from nine new retail stores and comparable sales growth in the high single-digit range for retail stores only and low double-digit range including ecommerce sales. Wall Street currently is looking for annual earnings of $0.94 per share on revenues of $344.96 million.