Vince Holding News: VNCE Stock Surges on Solid Holiday Sales
The holidays brought good Vince Holding news for VNCE stock with great sales during the period.
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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.
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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.
The post Vince Holding News: VNCE Stock Surges on Solid Holiday Sales appeared first on InvestorPlace.
