Vince Holding reports 11.9% growth in net sales during holiday period
Vince Holding announced net sales results for the nine-week period ended January 5, 2019. Net sales grew 11.9% as compared to the same period last year. Direct-to-Consumer segment sales increased 13.2% driven by comparable sales growth of 8.2% for the nine-week period as compared to the same period last year and the opening of four net new stores since the end of the same period last year. On a shifted basis, comparable sales increased 6.3%. CEO Brendan Hoffman said, "We saw solid sales performance during the holiday season as new product continues to be well-received by customers in our Direct-to-Consumer and Wholesale segments. In our Wholesale segment, we are seeing market share gains within our accounts as evidenced by double-digit sales growth at the retail level. We remain focused on advancing the strategic initiatives that we believe will enable us to deliver long term sustainable growth."