Vince Holding Q2 net sales $74.2M; gross margin +80bps; updates FY outlook

VINCE HOLDING CORP.

2024-Q2 EPS reported $0.39 revenue$133,340,000

Net sales of $74.2M for Q2 ended Aug 3, 2024; gross margin improved 80 bps vs Q2 FY2023.
Wholesale channel strength drove results; DTC softer due to store closures and reduced promotions.
Full-year FY2024 outlook: more prudent on DTC sales; wholesale outlook unchanged; profitability expectations raised.
CEO cites disciplined expense management and ongoing royalty expenses and incentive compensation as headwinds.
Re-establishment of incentive compensation program partially offset cost savings.

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