Vince Holding Corp.

Hello and welcome to the Finch Holding Corp fourth quarter and full year fiscal 2025 results conference call. All lines have been placed on mute to prevent any background noise. After the speaker's remarks, there will be a question and answer session. And if you would like to ask a question during this time, please press star 1 on your telephone keypad. I would now like to turn the conference over to Akiko Okuma, Chief Administrative Officer and General Counsel. You may begin.

Thank you and good morning, everyone. Welcome to Vince Holdings' fourth quarter and full year fiscal 2025 results conference call. Hosting the call today is Brendan Hoffman, Chief Executive Officer, and Yuji Okumura, Chief Financial Officer. Before we begin, let me remind you that certain statements made on this call may constitute forward-looking statements which are subject to risks and uncertainties that could cause actual results to differ from those that the company expects. Those risks and uncertainties are described in today's press release and in the company's SEC filings, which are available on the company's website. Investors should not assume that statements made during the call will remain operative at a later time, and the company undertakes no obligation to update any information discussed on the call. In addition, in today's discussion, the company is presenting its financial results in conformity with GAAP and on an adjusted basis. The adjusted results that the company presents today are non-GAAP measures. Discussions of these non-GAAP measures and information on reconciliations of them to their most comparable GAAP measures are included in today's press release and related schedules, which are available in the investor section of the company's website at investors.fin.com. Now I'll turn the call over to Brendan.

Thank you, and good morning, everyone. I'm incredibly proud of the strong operating results we are announcing today, highlighting the exceptional momentum we delivered at the end of the year that has continued into the start of fiscal 2026. As we announced earlier this year, we saw incredible strength in our direct-to-consumer business over the holiday period, and that remained the case throughout the full quarter. For the fourth quarter, sales in our direct-to-consumer business increased about 10% compared to last year, supported by our ongoing efforts in improving the customer experience and by the strategic pricing actions taken earlier in the fall. For the overall quarter, sales were up nearly 5% compared to last year, and profitability outpacing the high end of our prior guidance ranges. We are especially proud of this performance given the disruption we experienced with developments from Sachs Global, which presented a headwind to sales of approximately $2 million in the quarter. With the recent reorganization of SACS Global, we now have more clarity into the situation and are working with our partners there as they move forward in their plans. As a reminder, SACS Global recently represented less than 7% of our total sales. We remain supportive and confident in the new leadership team's ability to stabilize the business. We believe any change in penetration from this one partner going forward will be offset by strength elsewhere in the channel, given our diversified base and strong relationships across our wholesale business. This is a credit to not only our strong partnerships, but to the great product that is resonating across both men's and women's. We're also really pleased as we continue to elevate the product offering, appealing to our broad customer base. This strong performance supported by our fiscal 2025 results, which delivered sales growth of over 2% and adjusted EBITDA growth of about 8%, despite contending with approximately $8 million in incremental tariff costs. As we have discussed, our teams have done a tremendous job in mitigating the tariff pressures we face. We acted swiftly, diversifying our sourcing across Asia and globally, while working closely with manufacturing partners to maintain the quality standards that define VINs. We also implemented strategic pricing increases while maintaining unit sales, validating the strength and quality of our products. As we enter fiscal 2026, I am encouraged by the growth we are continuing to drive, and I'm more confident than ever in the trajectory ahead for Vince Holding Corp. Given this, we are exploring opportunities to continue to invest in the customer experience within our full price direct-to-consumer business. We are looking at areas like special events, people, and store operations, including remodels and new store openings, while also continuing to leverage our digital platform and expand dropship to additional categories. In spring 2026, these categories will include handbags, tailored clothing, belts, and accessories, creating revenue opportunities with minimal inventory risk for the business. In addition, we are continuing to scale our men's business. At the end of the year, with men's representing approximately 24% of total sales, we continue to see opportunity to expand this to 30% penetration, driven by growth in wholesale partnerships and expanded assortments in our own stores and online. With respect to our international business, our second London store in Marylebone exceeded expectations this year and validated our thoughts on further international expansion. This success gives us confidence to explore additional flagship opportunities in gateway cities like Paris in the next few years. Finally, the strategy I believe will really help to accelerate our growth is our focus on maximizing Vince Holden Corp as a platform. While we do not have anything yet to report, we are continuing to look for opportunities to leverage our platform, our world-class team and capabilities to support additional brands. This will create a new revenue stream for Vince Holding Corp. We could not be more enthused by our partnership with ABG, which not only opens channels for us, but also provides great opportunities with respect to marketing and engaging customers. We were thrilled to partner with the ABG team with a recent event at the Masters last week, and we're looking forward to doing similar types of interactive activations with the team for future high-profile events. This is in addition to the elevated outreach that we are also doing in partnership with our wholesale partners. Following the successful brand event at the end of last year with Nordstrom and celebrating our holiday campaign at our Madison Avenue, New York City flagship, we have continued the storytelling around the Vince brand, We recently celebrated an exclusive capsule collection for Spring 2026 as part of Bloomingdale's California Love campaign and hosted an influencer and editor event to showcase the capsule and preview of our Spring 2026 collection with over 100 editors and influencers in attendance. As part of the event, we also co-hosted a private VIC dinner with Bloomingdale VICs complete with a fashion show and model presentation to great success. Fiscal 26 is off to a strong start on all accounts. As UG will review and as seen in our outlook in today's press release, the momentum we ended Fiscal 25 with has continued across all channels. Our full-price business has never been stronger, reflecting the customer's continued love for the product and value they see for the brand. We believe, macro events aside, we are positioned well to continue to deliver healthy, profitable growth. A little over a year ago, I returned to Vince as CEO. I cannot emphasize enough the pride that I have in our team, our business, and the results we have delivered to date. I want to thank our incredible associates for their dedication and execution throughout fiscal 25. Their ability to evolve the product, maintain quality, and execute against our strategic priorities gives me tremendous confidence in the future. We are operating from a position of strength with disciplined execution and a clear roadmap for growth. I look forward to updating you on our progress as we move through the year. Now, I'll turn it over to Yuji to discuss our financial results and outlook in more detail.