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Stock impact report

Vince monitoring Saks Global ‘on a minute-by-minute basis' [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
ORLANDO, Fla. — Vince Holdings CEO Brendan Hoffman said at the ICR Conference Monday that the apparel brand is monitoring Saks Global's financial situation “on a minute-by-minute basis.” The luxury department store business, which sparked bankruptcy speculation after it missed a recent debt payment , accounts for 7% of Vince's business. “Wholesale has grown a little bit faster over the last couple of years, as we've gone full bore with Bloomingdale's again and continue to grow Nordstroms,” Hoffman said in his presentation. The brand's business with Saks Global is “not immaterial, but not nearly as large as some of the other accounts that we've been growing.” Vince reported Monday that holiday sales rose 5.3% , driven by nearly 10% growth in DTC. Wholesale declined 2.7% in the nine-week period ended Jan. 3. In the year or so since Saks Global acquired Neiman Marcus , the company has been struggling to pay vendors , souring relationships and hampering its ability to obtain inve Show less Read more
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