Vince swings back to black in Q3, continues transformation phase post-Rebecca Taylor closure

Vince Holdings, in the midst of its transformation plan following a majority stake sale to Authentic Brands Group, reported a 14.7% decline in sales to $84.1 million in Q3. This drop was primarily attributed to a 100% decrease in Rebecca Taylor and Parker segment sales due to the ongoing wind-down of Rebecca Taylor, partially offset by a 6.2% decrease in Vince brand sales. The wholesale segment saw a 9.4% decline to $49.8 million, while direct-to-consumer sales dropped 1.2% to $34.2 million. Despite the sales challenges, the company posted a net income of $1 million, marking a return to profitability.