Lightweight Luxury Clothing Brand Vince Showed Slight Progress In The First Quarter.

According to the world clothing and shoes net, we are struggling to survive.

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Holding Corp. (NYSE:VNCE) showed a slight improvement in the first quarter.

The year-on-year drop in sales directly to consumer channels narrowed to 1% from 12.6% in the four quarter, with sales of $22 million 600 thousand, while same store sales fell from 20.5% to 5.7%.

Wholesale channels are still weak, partly affected by the cancellation of the summer shipment, and sales plummeted 20.9% to 35 million 400 thousand dollars a year.

Net sales totaled $58 million, down 14.2% from $67 million 600 thousand a year ago, and the reduction was less than 21.9% of the fourth quarter.

The chief executive, Brenda Hoffman, pointed out in the earnings report that the performance in the first quarter was "broadly in line with expectations" and that the trend in the last quarter and the two quarter has been greatly improved.

Better management of supply, promotion and marketing.

Stimulated by this stimulus, Vince Holding Corp. (NYSE:VNCE) surged to 11.5% to 0.58 dollars in today's intraday market.

Earnings in the first quarter deteriorated significantly.

The net loss expanded nearly 4 times to $9 million 300 thousand, or a diluted loss of $0.19 per share, a net loss of $1 million 900 thousand during the same period last year, or a loss of $0.05 per share.

As of April 29th, Vince Holding Corp. had 54 doors, a net increase of 3 over the same period last year, an increase of 37.6% in the inventory of $32 million 200 thousand, and a 230 increase in the gross profit margin to 44.1%.

Last month, the Group acquired Sun Capital Partners Inc., a major shareholder, and promised to increase its capital by 30 million US dollars under certain conditions. At that time, Brendan Hoffman pointed out that the fund would help strengthen capital structure and provide additional cash for operation so that management could continue to implement its strategic plan.

At today's performance analysts conference, Brenda Hoffman revealed that they had hired consultants to help the group cut costs and put resources in the growth area. At the same time, the group is now concentrating on repairing computer systems that fail to perform well and increasing capital mobility.

As of April 29th, cash and cash equivalents of the group were further reduced to $15 million 390 thousand, a sharp decrease of 26.6% compared to January 28th.

Vince Holding Corp. (NYSE:VNCE) was closed at $0.52 on Wednesday.

In April 28th this year, Vince Holding Corp. said in the fourth quarter of fiscal year 2016 and its annual earnings report that the management had "great misgivings" on the 12 months' continuous operation.

The stock market has fallen by 8 per cent in the past 12 months as of April 28th, and the signal that might be bankrupt has accelerated investors' fleeing, resulting in another 44% plunge in the day and below 1 US dollars, which has not yet been able to bring back $1.

In May 17th, the group received a notice from the New York stock exchange that it failed to meet the average market closing price of the past 30 trading days, not less than US $1 or market value / shareholders holding at least 50 million US dollars to maintain the listing status threshold. The NYSE requires the stock to meet the above standards before November 17th, otherwise it will face delisting.

The group said it intends to eliminate deficiencies in the next six months and plans to submit relevant business plans to the New York stock exchange later.

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