Vince Q2 net loss $1.23 per share; announces Rebecca Taylor wind-down

VINCE HOLDING CORP.

2022-Q2 EPS reported -$1.83 revenue$167,570,000

Net sales rose 13.4% to $89.2M; Vince brand sales up 20.5%, Rebecca Taylor/Parker down 27.9%.
Gross margin rate fell to 40.8% from 45.0%; operating loss of $5.2M vs income of $2.6M.
Net loss of $15.0M ($1.23 per share) vs $0.6M loss ($0.05) a year ago; includes $2.6M impairment charges for Rebecca Taylor.
Company plans to wind down Rebecca Taylor business to focus on Vince brand; discussions with lenders ongoing.
Inventory increased to $129.5M from $74.3M due to strategic pre-fall buys and higher costs.

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