Vince Holding Corp. reports second quarter 2024 results

Vince Holding Corp. (NYSE: VNCE) (“VNCE” or the “Company”), a global contemporary retailer, today announced its financial results for the second quarter ended August 3, 2024.

David Stefko, Interim Chief Executive Officer of VNCE, said: “We are pleased with our second quarter results, driven by the strong performance of our wholesale channel, our continued focus on selling at full price and disciplined cost management of our core operating cost structure. This helped partially offset expected headwinds from ongoing royalties as well as the realignment of our incentive compensation program. The strength of our wholesale channel was partly due to our ability to meet demand earlier than expected and helped offset the weaker performance of our direct sales channel, which was impacted by store closures and our strategic decision to further scale back our promotional activities. Looking ahead to the remainder of the year, while we are taking a more cautious approach to our direct sales guidance as we continue to execute on our strategy against an increasingly uncertain macroeconomic backdrop, our guidance for our wholesale channel remains unchanged and our increased expectations for profitability underscore our commitment to a stronger full price business model.”