Vince Holding Corp. reported its financial results for the fourth quarter and fiscal year ending February 1, 2025. The company achieved net sales of $80.0 million in Q4 FY2024, representing a 6.2% increase from the $75.3 million recorded in the same period of the previous year. For the entire fiscal year 2024, net sales reached $293.5 million. The growth in Q4 net sales was primarily driven by the strength in the Vince wholesale channel, despite some softness in the Vince Direct-to-consumer channel related to retail stores. Excluding an extra week in the fourth quarter of fiscal 2023, the total company net sales increased approximately 9% compared to the prior year period. The company's gross profit for Q4 FY2024 increased by approximately $6 million, and the gross margin improved by 470 basis points compared to Q4 FY2023. Across the fiscal year, Vince Holding Corp.'s gross profit increased by approximately $12 million, with a gross margin improvement of 400 basis points compared to FY2023. Brendan Hoffman, the Chief Executive Officer of Vince Holding Corp., highlighted the resilience and depth of the leadership team, as well as the progress made in strengthening the company's foundation and business model since his return to the CEO role earlier this year.
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