NEW YORK--(BUSINESS WIRE)--
Vince Holding Corp. (NYSE: VNCE), a leading global luxury apparel and
accessories brand (“Vince” or the “Company”), today announced that sales
and EPS results for the full year are now expected to come in at or
below the low end of the Company’s previously stated guidance as of
December 8, 2016, due to an anticipated shift in the timing of a larger
than planned portion of the Spring collection shipments from late
January to early February, as well as softer than expected sales
performance during the holiday season.
Brendan Hoffman, Chief Executive Officer, commented, “Despite a solid
Black Friday week and improved trends towards the end of December, sales
for the holiday season were softer than we anticipated. That said, for
the holiday season, while direct-to-consumer segment sales results were
near the low end of our guidance range, they were better than
sell-through performance in the wholesale segment. Overall, we continue
to gain valuable insights from our retail team and wholesale partners.
We are also encouraged by the favorable response to our return to the
style and quality that was the cornerstone of the Vince brand at its
inception. We remain committed to driving market share gains within the
wholesale channel, expanding our direct-to-consumer business and growing
our international presence over the long-term.”
As previously announced, the Company will be hosting a fireside chat at
the 19th Annual ICR Conference on Tuesday, January 10, 2017, at 1:00 PM
Eastern Time. The audio portion of the presentation will be webcast live
on the investor relations section of the Company’s website, http://investors.vince.com/.
ABOUT VINCE
Established in 2002, Vince is a global luxury brand best known for
utilizing luxe fabrications and innovative techniques to create a
product assortment that combines urban utility and modern effortless
style. From its edited core collection of ultra-soft cashmere knits and
cotton tees, Vince has evolved into a global lifestyle brand and
destination for both women’s and men’s apparel and accessories. As of
October 29, 2016, Vince products were sold in prestige distribution
worldwide, including approximately 2,400 distribution locations across
approximately 40 countries. With corporate headquarters in New York and
its design studio in Los Angeles, the Company operated 40 full-price
retail stores, 14 outlet stores and its e-commerce site, vince.com.
Please visit www.vince.com
for more information.
This document, and any statements incorporated by reference herein,
contains forward-looking statements under the Private Securities
Litigation Reform Act of 1995. Forward-looking statements include the
statements regarding, among other things, our current expectations about
the Company's future results and financial condition, revenues, store
openings and closings, margins, expenses and earnings and are indicated
by words or phrases such as "may," "will," "should," "believe,"
"expect," "seek," "anticipate," "intend," "estimate," "plan," "target,"
"project," "forecast," "envision" and other similar phrases. Although we
believe the assumptions and expectations reflected in these
forward-looking statements are reasonable, these assumptions and
expectations may not prove to be correct and we may not achieve the
results or benefits anticipated. These forward-looking statements are
not guarantees of actual results, and our actual results may differ
materially from those suggested in the forward-looking statements. These
forward-looking statements involve a number of risks and uncertainties,
some of which are beyond our control, including, without limitation: our
ability to maintain adequate cash flow from operations or availability
under our revolving credit facility to meet our liquidity needs
(including our obligations under the tax receivable agreement); our
ability to successfully complete the migration of our systems and
processes from Kellwood Company and to successfully implement the new
systems, processes and functions following the migration; our ability to
ensure the proper operation of the distribution facility by a third
party logistics provider recently transitioned from Kellwood; our
ability to remain competitive in the areas of merchandise quality,
price, breadth of selection, and customer service; our ability to
anticipate and/or react to changes in customer demand and attract new
customers, including in connection with making inventory commitments;
our ability to control the level of sales in the off-price channels; our
ability to manage excess inventory in a way that will promote the
long-term health of the brand; changes in consumer confidence and
spending; our ability to maintain projected profit margins; unusual,
unpredictable and/or severe weather conditions; the execution and
management of our retail store growth plans, including the availability
and cost of acceptable real estate locations for new store openings; the
execution and management of our international expansion, including our
ability to promote our brand and merchandise outside the U.S. and find
suitable partners in certain geographies; our ability to expand our
product offerings into new product categories, including the ability to
find suitable licensing partners; our ability to successfully implement
our marketing initiatives; our ability to protect our trademarks in the
U.S. and internationally; our ability to maintain the security of
electronic and other confidential information; serious disruptions and
catastrophic events; changes in global economies and credit and
financial markets; competition; the impact of recent turnover in the
senior management team; the fact that a number of members of the
management team have less than one year of tenure with the Company, and
the current senior management team has not had a long period of time
working together; our ability to attract and retain key personnel;
commodity, raw material and other cost increases; compliance with
domestic and international laws, regulations and orders; changes in laws
and regulations; outcomes of litigation and proceedings and the
availability of insurance, indemnification and other third-party
coverage of any losses suffered in connection therewith; tax matters;
and other factors as set forth from time to time in our Securities and
Exchange Commission filings, including under the heading "Item 1A—Risk
Factors" in our Annual Report on Form 10-K and our Quarterly Reports on
Form 10Q. We intend these forward-looking statements to speak only as of
the time of this release and do not undertake to update or revise them
as more information becomes available.
This press release is also available on the Vince Holding Corp. website (http://investors.vince.com/).

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Source: Vince Holding Corp.