Vince Holding Corp. engages in the manufacture, design, and sale of luxury apparel and accessories. It offers clothing, footwear, and handbags. It operates through the Wholesale and Direct-to-Consumer segments. The Wholesale segment deals with the sale of products to premier department stores and specialty stores in the U.S. and in the selected international markets. The Direct-to-Consumer segment includes retail and outlet stores and its e-commerce business. The company was founded by Rea Laccone and Christopher LaPolice in 2002 and is headquartered in New York, NY.
System or data security issues, such as cyber or malware attacks, as well as other major system failures could disrupt our internal operations or information technology services, and any such disruption could negatively impact our net sales, increase our expenses and harm our reputation.
Net sales for the three months ended May 4, 2019 were $55,122, increasing $608, or 1.1%, versus $54,514 for the three months ended May 5, 2018. Net sales by reportable segment were as follows:
Net sales from our Wholesale segment decreased $1,140, or 4.0%, to $27,355 in the three months ended May 4, 2019 from $28,495 in the three months ended May 5, 2018, due to the shift in timing of seasonal wholesale shipments.
Net sales from our Direct-to-consumer segment increased $1,748, or 6.7%, to $27,767 in the three months ended May 4, 2019 from $26,019 in the three months ended May 5, 2018. Comparable sales increased $281, or 1.1%, including e-commerce, primarily due to an increase in average dollar sale. Non-comparable sales contributed $1,467 of sales growth. Since May 5, 2018, two net new stores have opened, bringing our total retail store count to 59 as of May 4, 2019, compared to 57 as of the end of the prior year period.