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Vince Holding Corp. (VNCE) Stock Surged Following Immense Success of Financial Reports for Q2 2021

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Vince Holding Corp. (VNCE) stock prices surged by 16.39% as of the market closing on September 10th, 2021. This brought the price per share up to USD$7.81 early on in the trading day.

Net Sales Reports

Total net sales for the second quarter of fiscal 2021 were reported in the amount of USD$78.7 million. This represents a 112.5% year-over-year increase from the USD$37 million reported for the prior-year quarter. Net loss for the 2021 quarter came out to USD$0.6 million, representing a net loss of USD$0.05 per share. This is comparable to the USD$15.1 million net loss reported in the prior-year quarter, which came out to a net loss of USD$1.28 per share.

Gross Profit and Margin

VNCE stock reported a gross profit in the amount of USD$35.4 million for the second quarter of fiscal 2021. This accounted for 45% of net sales for the quarter. The prior-year quarter saw the company report gross profit in the amount of USD$13.3 million, which came out to 36% of net sales. The year-over-year increase was largely attributable to channel mix, lower year-over-year adjustments to inventory reserves, and lower promotional activity in the direct-to-consumer channel.

VNCE Stock’s SG&A Costs

Selling, general, and administrative costs came out to USD$32.7 million for the second quarter of fiscal 2021. This represents 41.6% of sales for the quarter. These figures are comparable to the USD$27.3 million SG&A costs reported for Q2 2020, which represented 73.9% of net sales. The year-over-year increase was largely driven by higher payroll and compensation expenses, increased investments in marketing, and increase consulting and other third-party costs.

VNCE Stock’s Capital

The end of the second quarter of fiscal 2021 saw VNCE stock report total borrowings in the amount of USD$87.3 million. In addition to these debt agreements, the company also reported USD$34.4 million of surplus availability under its revolving credit facility. September 7th, 2021 saw the company enter into a new USD$35 million senior secured term loan credit facility

Future Outlook for VNCE Stock

VNCE stock reported a promising quarter, as evidenced by the strength of its financial reports for Q2 2021. The company plans to continue allocating resources towards maintaining the momentum generated over H1 2021. Current and potential investors are hopeful that management will be able to facilitate significant and sustained increases in shareholder value over the long term.

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