Vince Profit Tops Estimates, Cuts FY Guidance; Stock Down 10%

(RTTNews) - Vince Holding Corp (VNCE), a contemporary fashion brand, on Thursday reported first-quarter net earnings of $2.5 million or $0.06 per share compared with $1.4 million or $0.04 per share last year.

Revenues for the quarter were $59.8 million compared with $53.5 million in the prior year.

Analysts polled by Thomson Reuters estimated earnings of $0.05 per share on revenues of $59.5 million for the quarter. Analysts' estimates typically exclude special items.

Gross margin for the quarter improved 200 basis from a year ago to 51.4%.

For the full year 2015, the company now expects earnings of $0.85 to $0.90 per share on revenues of $340 million to $350 million. Earlier it expected earnings of $1.00 to $1.05 per share on revenues of $360 million to $370 million.

Analysts expect earnings of $1.03 per share on revenues of $366.2 million for the year.