Vince Q1 net sales $59.2M, gross margin +440 bps, profitability beats outlook

VINCE HOLDING CORP.

2024-Q1 EPS reported $0.35 revenue$59,171,000

Net sales of $59.2M for Q1 ended May 4, 2024; reduced promotional and off-price activities impacted topline.
Gross margin expanded 440 basis points vs Q1 FY2023, driven by full-price mix and lower promotional activity.
Q1 profitability exceeded prior company outlook; full-year FY2024 outlook reaffirmed.
Royalty expenses incurred in Q1 that were not present in prior year; Transformation Plan on track.

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