The holidays brought good Vince Holding news for VNCE stock with great sales during the period.
The positive news for Vince (NYSE:VNCE) stock comes from its sales for the nine-week period that ended on Jan. 5, 2019. This saw the company’s net sales increase by 11.9% when compared to the same time last year.
Breaking down the Vince Holding news further, the company says that its Direct-to-Consumer segment sales for the holidays were up by 13.2% from the same period of the year prior. The company says this was driven by comparable sales growth of 8.2% during the holiday. It notes that comparable sales growth for the period was 6.3% on a shifted basis.
Another bit of good Vince Holding news from the recent press release has to do with the clothing retailer’s store count. According to VNCE, it was able to open a net amount of four new stores during the holiday season. This was also a benefit to the company’s Direct-to-Consumer segment sales during the holidays.
“We saw solid sales performance during the holiday season as new product continues to be well-received by customers in our Direct-to-Consumer and Wholesale segments. In our Wholesale segment, we are seeing market share gains within our accounts as evidenced by double-digit sales growth at the retail level,” Vince CEO Brendan Hoffman said in a statement . “We remain focused on advancing the strategic initiatives that we believe will enable us to deliver long term sustainable growth.”
VNCE stock was up 3% as of Monday morning.
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As of this writing, William White did not hold a position in any of the aforementioned securities.
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