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VNCE Vince Holding

Vince Holding Corp. is a global contemporary group, consisting of three brands: Vince, Rebecca Taylor and Parker. Vince, established in 2002, is a leading global luxury apparel and accessories brand best known for creating elevated yet understated pieces for every day effortless style. Known for its range of luxury products, Vince offers women’s and men’s ready-to-wear, footwear and accessories through 48 full-price retail stores, 15 outlet stores, and its e-commerce site, vince.com and through its subscription service Vince Unfold, www.vinceunfold.com, as well as through premium wholesale channels globally. Rebecca Taylor, founded in 1996 in New York City, is a high-end women’s contemporary lifestyle brand inspired by beauty in the everyday.

Company profile

Ticker
VNCE
Exchange
Website
CEO
Brendan Hoffman
Employees
Incorporated
Location
Fiscal year end
Former names
Apparel Holding Corp.
SEC CIK
IRS number
753264870

VNCE stock data

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Calendar

10 Jun 21
14 Jun 21
2 Feb 22
Quarter (USD)
May 21 Jan 21 Oct 20 Jul 20
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Annual (USD)
Jan 21 Jan 20 Feb 19 Feb 18
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS

Financial data from company earnings reports.

Cash burn rate (estimated) Burn method: Change in cash Burn method: Operating income/loss Burn method: FCF (opex + capex)
Last Q Avg 4Q Last Q Avg 4Q Last Q Avg 4Q
Cash on hand (at last report) 1.41M 1.41M 1.41M 1.41M 1.41M 1.41M
Cash burn (monthly) 815.33K 2.12M 2.99M 1.95M 931.33K 1.59M
Cash used (since last report) 1.2M 3.11M 4.4M 2.86M 1.37M 2.34M
Cash remaining 214.22K -1.7M -2.98M -1.45M 43.81K -924.42K
Runway (months of cash) 0.3 -0.8 -1.0 -0.7 0.0 -0.6

Beta Read what these cash burn values mean

Date Owner Security Transaction Code Indirect 10b5-1 $Price #Shares $Value #Remaining
1 Jun 21 Jerome Griffith Common Stock Grant Aquire A No No 0 6,585 0 44,739
1 Jun 21 Robin S Kramer Common Stock Grant Aquire A No No 0 6,585 0 16,583
1 Jun 21 Michael J Mardy Common Stock Grant Aquire A No No 0 6,585 0 29,524
1 Jun 21 Ulasewicz Eugenia Common Stock Grant Aquire A No No 0 6,585 0 32,035
26 May 21 Lee Meiner Common Stock Grant Aquire A No No 0 17,143 0 23,906

Data for the last complete 13F reporting period. To see the most recent changes to ownership, click the ownership history button above.

6.5% owned by funds/institutions
13F holders
Current Prev Q Change
Total holders 20 23 -13.0%
Opened positions 0 2 EXIT
Closed positions 3 9 -66.7%
Increased positions 5 3 +66.7%
Reduced positions 9 11 -18.2%
13F shares
Current Prev Q Change
Total value 5.18M 4.73M +9.6%
Total shares 773.28K 832.81K -7.1%
Total puts 0 0
Total calls 0 0
Total put/call ratio
Largest owners
Shares Value Change
Renaissance Technologies 242.25K $1.54M -8.2%
Vanguard 133.65K $850K 0.0%
FNY Investment Advisers 122.5K $779K -2.0%
Bridgeway Capital Management 92.9K $591K -1.5%
BLK Blackrock 81.65K $519K +17.1%
Dimensional Fund Advisors 47.76K $304K 0.0%
Geode Capital Management 22.6K $143K 0.0%
Atlas Private Wealth Advisors 17.3K $110K +27.5%
NTRS Northern Trust 4.26K $27K -2.8%
Tower Research Capital 2.93K $19K +140.2%
Largest transactions
Shares Bought/sold Change
Arrowstreet Capital, Limited Partnership 0 -28.67K EXIT
Squarepoint Ops 0 -22.08K EXIT
Renaissance Technologies 242.25K -21.6K -8.2%
BLK Blackrock 81.65K +11.91K +17.1%
Atlas Private Wealth Advisors 17.3K +3.73K +27.5%
FNY Investment Advisers 122.5K -2.5K -2.0%
Tower Research Capital 2.93K +1.71K +140.2%
Bridgeway Capital Management 92.9K -1.4K -1.5%
UBS UBS Group AG - Registered Shares 1.77K +1.08K +157.1%
Advisory Services Network 200 -831 -80.6%

Financial report summary

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Risks
  • The COVID-19 pandemic has adversely affected, and is expected to continue to adversely affect, our business, financial condition, cash flow, liquidity, and results of operations.
  • Our ability to continue to have the liquidity necessary to service our debt, meet contractual payment obligations and fund our operations depends on many factors, including our ability to generate sufficient cash flow from operations, maintain adequate availability under our 2018 Revolving Credit Facility or obtain other financing.
  • Our operations are restricted by our credit facilities.
  • General economic conditions in the U.S. and other parts of the world, including a weakening of the economy and restricted credit markets, can affect consumer confidence and consumer spending patterns.
  • We may not be able to realize the benefits of our strategic initiatives.
  • We may be unable to successfully implement and optimize our omni-channel strategy.
  • One of our strategic initiatives is to focus on our direct-to-consumer business, which includes opening retail stores in select locations under more favorable and shorter lease terms and operating and maintaining our new and existing retail stores successfully. If we are unable to execute this strategy in a timely manner, or at all, our financial condition and results of operations could be materially and adversely affected.
  • We are subject to risks associated with leasing retail and office space, are historically subject to long-term non-cancelable leases and are required to make substantial lease payments under our operating leases, and any failure to make these lease payments when due would likely harm our business, profitability and results of operations.
  • A substantial portion of our revenue is derived from a small number of large wholesale partners, and the loss of any of these wholesale partners could substantially reduce our total revenue.
  • The acquisition of the Rebecca Taylor and Parker brands, and any other future acquisitions, may not achieve its intended benefits.
  • We may not successfully manage the transition associated with the appointment of a new Chief Executive Officer, which could have an adverse impact on us.
  • Our plans to improve and expand our product offerings may not be successful, and the implementation of these plans may divert our operational, managerial, and administrative resources, which could harm our competitive position and reduce our net sales and profitability.
  • We have identified a material weakness in our internal control over financial reporting that could, if not remediated, result in material misstatements in our financial statements.
  • Failure to comply with laws and regulations could adversely impact our business.
  • If we are unable to accurately forecast customer demand for our products, our results of operations could be materially impacted.
  • Intense competition in the apparel and fashion industry could reduce our sales and profitability.
  • Our business depends on a strong brand image, and if we are not able to maintain or enhance our brands, particularly in new markets where we have limited brand recognition, we may be unable to sell sufficient quantities of our merchandise, which would harm our business and cause our results of operations to suffer.
  • If we lose any key personnel, are unable to attract key personnel, or assimilate and retain our key personnel, we may not be able to successfully operate or grow our business.
  • Our competitive position could suffer if our intellectual property rights are not protected.
  • Our limited operating experience and brand recognition in international markets may delay our expansion strategy and cause our business and growth to suffer.
  • Our current and future licensing arrangements may not be successful and may make us susceptible to the actions of third parties over whom we have limited control.
  • Our operating results may be subject to seasonal and quarterly variations in our net revenue and income from operations.
  • 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.
  • Failure to comply with privacy‑related obligations, including privacy laws and regulations in the U.S. and internationally as well as other legal obligations, could materially adversely affect our business.
  • The extent of our foreign sourcing may adversely affect our business.
  • Fluctuations in the price, availability and quality of raw materials could cause delays and increase costs and cause our operating results and financial condition to suffer.
  • Our reliance on independent manufacturers could cause delays or quality issues which could damage customer relationships.
  • If our independent manufacturers fail to use ethical business practices and comply with applicable laws and regulations, our brand images could be harmed due to negative publicity.
  • In certain cases, payments under the Tax Receivable Agreement to the Pre-IPO Stockholders may be accelerated and/or significantly exceed the actual benefits we realize in respect of the Pre-IPO Tax Benefits.
  • We are a “controlled company,” controlled by investment funds advised by affiliates of Sun Capital, whose interests in our business may be different from yours.
  • Any disputes that arise between us and St. Louis, LLC, or between us and Kellwood, which is now an unaffiliated entity, with respect to our past relationships, could materially harm our business operations.
Management Discussion
  • Comparable sales include our e-commerce sales in order to align with how we manage our brick-and-mortar retail stores and e-commerce online stores as a combined single direct-to-consumer channel of distribution. As a result of our omni-channel sales and inventory strategy, as well as cross-channel customer shopping patterns, there is less distinction between our brick-and-mortar retail stores and our e-commerce online stores and we believe the inclusion of e-commerce sales in our comparable sales metric is a more meaningful representation of these results and provides a more comprehensive view of our year over year comparable sales metric.
  • A store is included in the comparable sales calculation after it has completed 13 full fiscal months of operations and includes stores, if any, that have been remodeled or relocated within the same geographic market the Company served prior to the relocation. Non-comparable sales include new stores which have not completed 13 full fiscal months of operations, sales from closed stores, and relocated stores serving a new geographic market. For 53-week fiscal years, we continue to adjust comparable sales to exclude the additional week. There may be variations in the way in which some of our competitors and other retailers calculate comparable sales. 
  • As a result of the extensive temporary store closures due to the COVID-19 pandemic, comparable sales are not a meaningful metric for the three months ended May 1, 2021 and May 2, 2020 and we have not included a discussion within our Results of Operations.
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