Vince Holding Shares Spike As Q2 Earnings Smashes Estimates

by Shivani Kumaresan, Benzinga Staff Writer

September 10, 2021 8:58 AM | 1 min read | Make a Comment

Vince Holding Corp VNCE reported second-quarter FY21 sales growth of 112.6% year-on-year, to $78.67 million, beating the analyst consensus of $70.60 million.
Vince sales increased 108.5% Y/Y, while Rebecca Taylor and Parker sales rose 139.4%.
Gross profit rose 165.2% Y/Y to $35.4 million, and the gross margin expanded 900 basis points to 45%.
The operating margin was 3.3%, and operating income for the quarter was $2.6 million against a loss of $(14) million in Q2 FY20.
The company held $1.5 million in cash and equivalents as of July 31, 2021.
Net inventory at the end of Q2 decreased 19.3% Y/Y to $74.3 million.
EPS of $(0.05) beat the analyst consensus of $(0.64).
Price Action: VNCE shares are trading higher by 13.71% at $7.63 in premarket on the last check Friday.