Vince has raised its full-year outlook after reporting stronger first-quarter sales, driven by growth in both direct-to-consumer and wholesale.

Net sales increased 10.5 per cent to $64 million in the quarter, which ended May 3, compared with $57.9 million a year earlier.

Direct-to-consumer sales rose 15.6 per cent to $32 million, while wholesale revenue increased 5.9 per cent to $32.1 million.

CEO Brendan Hoffman said the results reflected the company’s investments in brand-building initiatives.

“We delivered strong first-quarter results that demonstrate the momentum we’ve built is not only sustained but accelerating,” Hoffman said.

“Our strategic investments in customer experience are paying off, fueling double-digit growth in both new and reactivated customers and supporting healthy full-price selling.”

Gross profit increased to $32.4 million from $29.2 million a year earlier, while gross margin improved to 50.6 per cent of net sales from 50.4 per cent.

For the full year, Vince expects net sales growth of approximately 7 per cent to 8 per cent, with adjusted operating income projected to represent 4 per cent to 4.5 per cent of net sales.

“We’re executing with discipline across the business,” Hoffman added.

“With our strategic foundation firmly in place and a talented team driving product and execution, we are raising our full-year guidance and remain focused on delivering sustained profitable growth and long-term shareholder value.”

Established in 2022, Vince is a contemporary clothing fashion brand headquartered in New York City. Its IP was acquired by Authentic Brands Group in 2023, but the retail business is majority owned by the P180 company.

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