Vince (NYSE:VNCE) reported its latest quarterly earnings results late today, bringing in mixed results that included a loss that was wider than it was during the same period a year ago, while the brand’s sales were up when compared to the year-ago quarter, yet VNCE stock was largely unmoved after hours.
The luxury apparel designed announced that for its first quarter of 2019, it posted a net loss that was wider than the year-ago quarter, coming in at $7 million, or 60 cents per share. During its first quarter of 2018, this amount was $5.6 million, or 49 cents per share.
The wider loss can be attributed to higher costs and expenses for Vince, as well as an increase in other expenses. The company added that its net sales for the period tallied up to $55.1 million, which marked a 1.1% when compared to the same period a year ago.
The business also saw its wholesale segment sales fall roughly 4% due mostly to the shift in the timing of seasonal wholesale shipments, while direct-to-consumer segment sales were up by 6.7% when compared to the year-ago quarter. Vince added that comparable sales were up by 1.1% year-over-year, which include e-commerce sales–this was largely due to an increase in the brand’s average dollar sale.
VNCE stock was unchanged after the bell Thursday following the company’s results. Shares had been gaining 6.6% before the ring of the bell today.
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