Vince Holding Corp. Reports First Quarter 2026 Results; Net Sales Increased 10.5% to $64.0 Million vs. 1Q25; Raises Full Year Fiscal 2026 Guidance

About this update from Vince Holding Corp.

NEW YORK- Vince Holding Corp. (Nasdaq: VNCE) ('VNCE' or the 'Company'), a global retail platform, today reported its financial results for the first quarter ended May 2, 2026 . Brendan Hoffman , Chief Executive Officer of VNCE said, 'We delivered strong first quarter results that demonstrate the powerful momentum we've built is not only sustained but accelerating. Net sales grew 10.5%, with direct-to-consumer up 15.6% and wholesale increasing 5.9% demonstrating strength across our entire business. Our strategic investments in customer experience are paying off, fueling double-digit growth in both new and reactivated customers and supporting healthy full-price selling.' Mr. Hoffman continued, 'We're executing with discipline and precision across our business. The strength we've established has carried into the second quarter, reinforcing my confidence in our trajectory. With our strategic foundation firmly in place and a talented team driving product and execution, we are raising our full year guidance and remain focused on driving sustained profitable growth and creating long-term shareholder value.' In this press release, the Company is presenting its financial results in conformity with U.S . generally accepted accounting principles ('GAAP') as well as on an 'adjusted' basis. Adjusted results presented in this press release are non-GAAP financial measures. See 'Non-GAAP Financial Measures' below for more information about the Company's use of non-GAAP financial measures. For the first quarter ended May 2, 2026 : Total Company net sales increased 10.5% to $64.0 million compared to $57.9 million in the first quarter of fiscal 2025. The year-over-year increase was driven by a 15.6% increase in the direct-to-consumer segment and a 5.9% increase in the wholesale segment. Gross profit was $32.4 million , or 50.6% of net sales, compared to gross profit of $29.2 million , or 50.3% of net sales, in the first quarter of fiscal 2025. The increase in gross margin rate was primarily driven by approximately 130 basis points due to the favorable impact from higher pricing and 100 basis points due to the favorable impact of lower discounting, largely offset by the unfavorable impact of higher tariffs. Selling, general, and administrative expenses were $35.0 million , or 54.7% of sales, compared to $33.6 million , or 58.0% of sales, in the first quarter of fiscal 2025. The increase in SG&A dollars was primarily driven by higher benefit costs as well as marketing and advertising costs. Loss from operations was $2.6 million compared to loss from operations of $4.4 million in the same period last year. Income tax benefit was $0.4 million compared to an income tax expense of $0 in the same period last year. The benefit is due to the impact of applying the Company's estimated annual effective tax rate to the year-to-date ordinary pre-tax loss. Net loss was $2.1 million or $(0.16) per share compared to net loss of $4.8 million or $(0.37) per share in the same period last year. Adjusted EBITDA* was $(1.1) million compared to $(3.0) million in the same period last year. The Company ended the quarter with 54 company-operated Vince stores, a net decrease of 4 stores since the first quarter of fiscal 2025. First Quarter Review Net sales increased 10.5% to $64.0 million as compared to the first quarter of fiscal 2025. Wholesale segment sales increased 5.9% to $32.1 million compared to the first quarter of fiscal 2025. Direct-to-consumer segment sales increased 15.6% to $32.0 million compared to the first quarter of fiscal 2025. Income from operations excluding unallocated corporate expenses was $12.0 million compared to income from operations of $8.6 million in the same period last year. Net Sales and Operating Results by Segment: https://investors.vince.com/press-releases/press-release-details/2026/Vince-Holding-Corp--Reports-First-Quarter-2026-Results/default.aspx (C) 2026 Electronic News Publishing, source ENP Newswire

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