0 million of payments to the term loan facility

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NEW YORK (BUSINESS WIRE) canada goose coats on sale Vince Holding Corp. (NYSE:VNCE), a leading global luxury apparel and accessories brand ( or the today reported unaudited results for the first quarter of fiscal year 2018 ended May 5, 2018.

Direct to Consumer sales increased 14.9%; comparable sales grew 12.3% Gross margin rate increased 270 basis points to 46.8% Operating loss improved $3.8 million to $4.4 million from $8.2 million Net loss was $5.6 million or $0.49 per share compared to a net loss of $9.3 million or $1.88 per share Brendan Hoffman, Chief Executive Officer, commented, were pleased with the strong response to our women and men product assortments in the first quarter which drove a double digit comparable sales increase in our full price stores, and more than 25% growth in our eCommerce business. In addition, we are highly encouraged by our three recent store openings, all of which are exceeding our sales expectations. In the wholesale channel, we saw better than expected performance at both Nordstrom and Neiman Marcus as well as strong sell through across all accounts, indicating a favorable response to our product offering. Sales in our wholesale segment declined, consistent with our expectations, primarily as the result of our planned reduction in partners in this channel. Given our increased confidence and visibility in the business, we have reinstituted annual guidance. With the building enthusiasm for our brand, we are more confident than ever that we are on the right path to delivering consistent profitable growth over the long term.

Canada Goose Online For the first quarter ended May 5, 2018: Canada Goose Online

canada goose uk outlet Net sales decreased 6.1% to $54.5 million compared to $58.0 million in the first quarter of fiscal 2017. Wholesale segment sales decreased 19.5% to $28.5 million, in line with expectations, as compared to the same period last year primarily due to the planned reduction in full price wholesale partners. Direct to consumer segment sales increased 14.9% to $26.0 million compared to the first quarter of fiscal 2017. Comparable sales increased 12.3%, including e commerce sales, primarily due to an increase in transactions. Gross profit was $25.5 million, or 46.8% of net sales, compared to gross profit of $25.6 million, cheap canada goose or 44.1% of net sales, in the first quarter of fiscal 2017. The 270 basis point increase in gross margin rate was largely due to lower sales allowances in the wholesale channel and a favorable shift in channel mix, partially offset by the unfavorable impact of adjustments to inventory reserves. Selling, general, and administrative expenses were $29.9 million, or 54.8% of sales, compared to $33.8 million, or 58.2% of sales, in the first quarter of fiscal 2017. The decline in SG dollars was primarily the result of lower product development costs and the non recurrence of investments made last year related to the remediation and optimization of the systems implemented during fiscal 2016. Operating loss was $4.4 million, compared to an operating loss of $8.2 million for the first quarter of fiscal 2017. Net loss was $5.6 million or $0.49 per share compared to a net loss of $9.3 million or $1.88 per share. The Company ended the quarter with 57 company operated stores, a net increase of three stores since the first quarter of fiscal 2017. Balance Sheet canada goose uk outlet

Canada Goose sale The Company ended the first quarter of fiscal 2018 with $5.2 million in cash and cash equivalents and $50.6 million of borrowings under its debt agreements. The Company decreased borrowings under its debt agreements since the same period last year by $15.5 million, primarily due to $14.0 million of payments to the term loan facility. Canada Goose sale

Canada Goose Parka Net inventory at the end of the first quarter of fiscal 2018 was $49.4 million compared to $32.2 million at the end of the first quarter of fiscal 2017. The increase in net inventory was primarily due to a change in the timing of shipments to the off price wholesale channel, growth of the replenishment program, and the reinstatement of the Company summer collection. Canada Goose Parka

uk canada goose Capital expenditures for the first quarter of fiscal 2018 totaled approximately $0.3 million. uk canada goose

Canada Goose Outlet Fiscal 2018 Outlook Canada Goose Outlet

For fiscal 2018 the Company expects:

buy canada goose jacket cheap Net sales to be between $273 million and $280 million. This compares to net sales of $272.6 million in fiscal 2017. Operating income to be between $3 million and $6 million. This compares to reported operating loss of $18.3 million in fiscal 2017 which includes a $5.1 million non cash asset impairment charge related to property and equipment of certain retail stores. ET, hosted by Vince Holding Corp. Chief Executive Officer, Brendan Hoffman, and Executive Vice President and Chief Financial Officer, David Stefko. During the conference call, the Company may make comments concerning business and financial developments, trends and other business or financial matters. The Company comments, as well as other matters discussed during the conference call, may contain or constitute information that has not been previously disclosed. buy canada goose jacket cheap

Those who wish to participate in the call may do so by dialing (833) 235 5655, conference ID 1985467. To listen to the live call, please go to canada goose jacket uk the website at least 15 minutes early to register and download any necessary audio software. For those who cannot listen to the live broadcast, a recording will be available for 12 months after the date of the event.


Established in 2002, Vince is a leading global luxury apparel and accessories brand best known for creating elevated yet understated pieces for every day. Vince products are sold in prestige locations worldwide. The Company is headquartered in New York and operates a design studio in Los Angeles. This press release is also available on the Vince Holding Corp.

Forward Looking Statements: This document, and any statements incorporated by reference herein, contains forward looking statements under the Private Securities Litigation Reform Act of 1995. Forward looking statements include the statements under “Fiscal 2018 Outlook” and statementsregarding, among other things, our current expectations about the Company future results and financial condition, revenues, store openings and closings, margins, expenses and earnings andare indicated by words or phrases such as and other similar phrases. Although we believe the assumptions and expectations reflected in these forward looking statements are reasonable, these assumptions and expectations may not prove to be correct and we may not achieve the results or benefits anticipated. These forward looking statements are not guarantees of actual results, and canada goose uk customer service our actual results may differ materially from those suggested in the forward cheap canada goose chilliwack bomber looking statements. federal income tax law reform; other tax matters; and other factors as set forth from time to time in our Securities and Exchange Commission filings, including those described in our Annual Report on Form 10 K under 1A Risk Factors. We intend these forward looking statements to speak only as of the time of this release and do not undertake to update or revise them as more information becomes available, except as required by law.

Vince Holding Corp. and Subsidiaries

Exhibit (1)

Condensed Consolidated Statements of Operations

(Unaudited, amounts in thousands except percentages, share and per share data )

cheap Canada Goose Three Months EndedMay 5, April 29,20182017 Net sales $ 54,514 $ 58,045 Cost of products sold 28,978 32,454 Gross profit 25,536 25,591 as a % of net sales46.8%44.1% Selling, general and administrative expenses 29,900 33,784 as a % of net sales54.8%58.2% Loss cheap canada goose for sale from operations (4,364 ) (8,193 ) as a % of net sales(8.0)%(14.1)% Interest expense, net 1,289 1,044 Other (income) expense, net (64 ) 1 Loss before income taxes (5,589 ) (9,238 ) Provision for income taxes 48 52 Net loss $ (5,637 ) canada goose sale uk mens $ (9,290 ) Loss per share: Basic loss per canada goose outlet share $ (0.49 ) $ (1.88 ) Diluted loss per share $ (0.49 ) $ (1.88 ) Weighted average shares outstanding: Basic 11,616,500 4,942,825 Diluted 11,616,500 4,942,825 Vince Holding Corp. and https://www.estrategias.de Subsidiaries cheap Canada Goose

canada goose uk black friday (Unaudited, amounts in thousands) canada goose uk black friday

May 5,February 3,April 29,201820182017ASSETS Current assets: Cash and cash equivalents $ 5,228 $ 5,372 $ 15,391 Trade receivables, net 12,764 20,760 20,292 Inventories, net 49,360 cheap canada goose coats uk 48,921 32,213 Prepaid expenses and other current assets 7,517 6,521 2,868 Total current assets 74,869 81,574 70,764 Property and equipment, net 29,966 31,608 42,017 Intangible assets, net 76,949 77,099 77,548 Goodwill 41,435 41,435 41,435 Deferred income taxes and other assets 2,738 2,818 2,518 Total assets $ 225,957 $ 234,534 $ 234,282 canada goose outlet eu LIABILITIES AND STOCKHOLDERS EQUITY (DEFICIT)

canada goose clearance sale Current liabilities: Accounts payable $ 20,149 $ 22,556 $ 25,016 Accrued salaries and employee benefits 4,003 6,715 2,671 Other accrued expenses 9,288 7,906 10,739 Current portion of long term debt 8,000 8,000 Total current liabilities 41,440 45,177 38,426 Long term debt 41,600 40,682 64,395 Deferred rent 15,316 15,633 16,670 Other liabilities 58,273 58,273 137,830 Stockholders equity (deficit) 69,328 canada goose shop uk review 74,769 (23,039 ) Total liabilities and stockholders equity $ 225,957 $ 234,534 $ 234,282 canada goose clearance sale.

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