VNCE earnings analysis
What we found in VNCE's 10-Q: the parts that mattered, the offsets in the same document, and what the company said about what comes next.
Our reading of the filing · Free to read, no account needed
Vince Holding Corp. reported a robust first quarter with net sales reaching $64.0 million, a 10.5% increase year-over-year. However, the company recorded a loss of $0.16 per share, slightly worse than anticipated estimates. Management's confidence is reflected in their updated forecast projecting a 7%-8% growth in net sales for fiscal 2026 as they navigate evolving cost challenges.
The parts that mattered.
Pulled out of the filing itself, with the figures the company reported.
- Revenue Growth
- Total revenue increased to $64.0 million, up $6.1 million or 10.5% from $57.9 million in Q1 2025.
- Improved Gross Margin
- Gross profit rose to $32.4 million, increasing 11.1% year-over-year, with a gross margin of 50.6% compared to 50.3%.
- Reduced Operating Loss
- Operating loss narrowed to $2.6 million from a loss of $4.4 million in the prior year.
- SG&A Expense Reduction
- As a percentage of sales, SG&A expenses decreased from 58.0% to 54.7% year-over-year.
- Operating Cash Flow Improvement
- Operating cash flow improved to a net cash used of $8.9 million from $11.8 million in the prior year.
- Segment Growth in Direct-to-Consumer
- The Direct-to-Consumer segment grew by 15.6%, reaching $31.9 million in sales, compared to $27.6 million.
And the other side of it.
The offsets in the same document — the things a summary that only listed the good news would have left out.
- Increased SG&A Expenses
- SG&A expenses rose 4.3% year-over-year to $35.0 million, impacting profitability.
- Tariff Cost Impact
- Tariffs negatively affected gross margins, contributing approximately a 190 basis point reduction.
- Working Capital Strain
- Cash flow from operations was negative, highlighting potential liquidity challenges with $8.9 million cash used.
What they reported.
What the company itself reported, taken out of the document.
- Earnings per share
- $-0.16
- Gross margin
- 50.6%
- Operating margin
- -4.1%
- Segment
- Vince Wholesale: $32.1M
- Segment
- Vince Direct-to-consumer: $32.0M
What they said about what is next.
Management anticipates a 7%-8% growth in net sales for fiscal 2026.
The filing reads about the same as the one before it.
What came before.
- 10-K · April 16, 2026
- Vince reported modest revenue growth to $300,007 (in thousands) in fiscal 2025, up from $293,452 (in thousands) in fiscal 2024, driven by a 4.8% increase in Direct‑to‑consumer sales to $134,267 (in thousands) while…
- 10-Q · September 12, 2025
- Vince reported Q2 net sales of $73,241 (in thousands) and diluted EPS of $0.93 for the three months ended August 2, 2025, driven by a 50.45% gross margin (gross profit $36,938) and a material reduction in SG&A to…
- 10-K · May 2, 2025
- Vince reported essentially flat net sales year-over-year at $293.45M in fiscal 2024 (vs. $292.89M in fiscal 2023) while its wholesale mix increased to 56.3% of net sales. The company completed a majority-stake…
- 10-Q · September 17, 2024
- Vince reported quarterly net sales of $74,169,000 and diluted EPS of $0.05 for the three months ended August 3, 2024. Revenue increased versus the year-ago quarter, gross profit rose to $35,131,000, but operating income…
This is our reading of a public filing, not the filing. Read the original on SEC.gov · Educational only. Nothing here is investment advice.
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