Shares of Vince Holding Corp (NYSE:VNCE) ended Monday session in green amid volatile trading. The shares closed up +0.03 points or 0.55% at $5.49 with 125,910 shares getting traded. Post opening the session at $5.50, the shares hit an intraday low of $5.46 and an intraday high of $5.59 and the price vacillated in this range throughout the day. The company has a market cap of $270.78 million and the numbers of outstanding shares have been calculated to be 49.41 million shares.
Vince Holding Corp (VNCE) reported unaudited results for the second quarter of fiscal 2016 ended July 30, 2016.
For the second quarter ended July 30, 2016:
Net sales decreased 24.1% to $60.7 million from $80.0 million in the second quarter of fiscal 2015. Wholesale segment net sales decreased 32.1% to $39.6 million due to the planned reduction in full-price orders related to the transition of product under the new design team. Direct-to-consumer segment net sales decreased 2.8% to $21.1 million compared to the second quarter of fiscal 2015. Comparable sales decreased 18.7%, including e-commerce sales, as a result of declines in the number of transactions, which reflected the planned reduction in inventory levels associated with the product transition.
Gross profit was $27.4 million, or 45.1% of net sales. This compares to gross profit of $20.8 million, or 26.0% of net sales, in the second quarter of fiscal 2015, which includes a $14.4 million charge associated with the write-down of excess inventory and aged product to expected net realizable value. Excluding the inventory write-down, gross profit in the second quarter of 2015 was $35.2 million, or 44.0% of net sales. Excluding the write-down in the prior year quarter, the increase in gross profit rate for the second quarter of 2016 reflected the favorable impact from lower year-over-year adjustments to inventory reserves, partially offset by an increase in the rate of sales allowances on lower net sales.
Selling, general, and administrative expenses were $31.6 million, or 52.1% of sales. This compares to $27.3 million, or 34.2% of sales, in the second quarter of fiscal 2015, which included $2.9 million of net management transition costs related to executive severance and related costs. Excluding these costs, selling, general and administrative costs in the second quarter of 2015 were $24.5 million or 30.6% of net sales. The increase in SG&A dollars for the second quarter of fiscal 2016 includes costs associated with 10 additional stores, incentive compensation costs and continued strategic investments to support the Company’s long term goals.
Shares of Herbalife Ltd. (NYSE:HLF) ended Monday session in red amid volatile trading. The shares closed down -0.25 points or -0.39% at $63.24 with 525,341 shares getting traded. Post opening the session at $63.66, the shares hit an intraday low of $63.14 and an intraday high of $64.38 and the price vacillated in this range throughout the day. The company has a market cap of $5.88 billion and the numbers of outstanding shares have been calculated to be 92.91 million shares.
Herbalife Ltd. (HLF) introduced the Herbalife SKIN® Clearify™ product line to help millions of North American consumers treat acne, blemishes, blackheads and whiteheads. This simple treatment delivers results in four to eight weeks and the products contain fresh scented botanicals, such as aloe and orange oil.
Acne, the most common skin condition in the U.S., affects up to 50 million Americans annually, according to the American Academy of Dermatology. The Herbalife SKIN® Clearify™ line is a dermatologist-tested treatment aimed at consumers from 14 to 35 years old who are experiencing acne problems. The product line includes a cleanser to reduce acne’s severity, a moisturizer to heal the skin, a mask to penetrate pores and eliminate most blemishes, and a spot treatment to dry pimples. The four products can be purchased individually or in a kit containing full-size products of the entire treatment line for $70.25.
“In addition to helping people live healthier, happier lives through better nutrition, Herbalife Nutrition is working to enhance the skincare and self-esteem of millions of people,” said Ibi Fleming, senior vice president and managing director, Herbalife North American Region. “With the launch of the Herbalife SKIN® Clearify™ product line, Herbalife Nutrition furthers its mission to change people’s lives.”