Vince Holding beats by $0.06, beats on revs; guides FY16 EPS below consensus, revs in-line :
- Reports Q3 (Oct) earnings of $0.13 per share, excluding non-recurring items,$0.06 better than the Capital IQ Consensus of $0.07; revenues fell 21.5% year/year to $80.86 mln vs the $75.44 mln Capital IQ Consensus.
- Co issues guidance for FY16, sees EPS of $0.17-0.21, excluding non-recurring items, vs. $0.33 Capital IQ Consensus Estimate; sees FY16 revs of $285-290 mln vs. $289.3 mln Capital IQ Consensus Estimate.
- "Our third quarter results were largely in line with our expectations. We saw continued challenges in the wholesale channel and less traffic in our direct-to-consumer business, along with deeper discounts, which is consistent with what we are seeing in the overall retail environment. Looking ahead, I am excited to be leading the Vince brand and I look forward to working with our founders, Rea and Christopher, as well as the rest of the team to recapture the brand DNA and position the Company for long term sales and profitability growth."
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