Vince (VNCE) Q4 2025 earnings summary

Executive summary

• Q4 FY2024 net sales rose 6.2% year-over-year to $80.0M, driven by strong wholesale performance, while direct-to-consumer declined.

• FY2024 net sales were $293.5M, up 0.2% year-over-year, with wholesale gains offsetting retail softness.

• Gross profit and margin improved significantly in Q4 and FY2024, reflecting lower promotions and product costs.

• A $32M non-cash goodwill impairment charge led to a reported Q4 operating loss; adjusted Q4 net income was $0.8M ($0.06/share).

• Transformation plan delivered over $10M in savings in FY2024, strengthening the financial foundation.

Financial highlights

• Q4 gross profit was $40.1M (50.1% margin), up from $34.2M (45.4%) last year; FY2024 gross profit was $145.2M (49.5%).

• Q4 net loss was $28.3M (loss per share $2.24), including a $32M non-cash goodwill impairment; adjusted Q4 net income was $0.8M (EPS $0.06).

• FY2024 net loss was $19.0M ($1.51/share); adjusted FY2024 net income was $2.4M ($0.19/share).

• Q4 wholesale sales up 26.7% to $39.1M; direct-to-consumer sales down 8.1% to $40.8M.

• Adjusted Q4 operating income was $2.5M, up due to gross margin expansion.

Outlook and guidance

• No full-year FY2025 guidance provided due to tariff and macroeconomic uncertainty.

• Q1 FY2025 net sales expected to decline ~5% year-over-year, with adjusted operating margin down ~500 basis points, reflecting lower sales and increased marketing and store-related expenses.