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Stock impact report

Vince Holding Corp enjoys return to profit despite FY 2023 sales dip [Yahoo! Finance]

Vince Holding Corp. (VNCE) 
Last vince holding corp. earnings: 4/28 07:30 am Check Earnings Report
US:NYSE Investor Relations: investors.vince.com
Company Research Source: Yahoo! Finance
retailer booked an operating profit for the year 2023 of $31.6m from a loss the previous year of $25.4m. Net income came in at $25.4m from a net loss of $38.3m for the comparative period. Vince Holding fiscal 2023 sales results Vince interim CEO David Stefko said: "Fiscal 2023 was a transformative year for Vince as we completed the wind-down of the Rebecca Taylor business, entered into a strategic partnership with Authentic Brands Group, successfully refinanced our credit facilities, and launched a cost savings plan to improve our gross margin profile and align our expense structure with our go-forward operating model. “In addition, we enhanced our focus on driving improved profitability through disciplined inventory management, lower promotional activity and a pullback in the off-price channel. While these actions impact topline results, as reflected in our fourth quarter performance and expectations for fiscal 2024, they help to support strong margin expansion, and we believe Show less Read more
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