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Vince Holding Corp.
6/16/2026
Hello, everyone. Thank you for joining us and welcome to VINC's first quarter 2026 earnings conference call. After today's prepared remarks, we will host a question and answer session. If you would like to ask a question, please press star one to raise your hand. To withdraw your question, press star one again. I will now hand the conference over to Akiko Okuma, Chief Administrative Officer. Please go ahead.
Thank you and good morning, everyone. Welcome to Vince Holding Corp first quarter fiscal 2026 results conference call. Hosting the call today is Brendan Hoffman, Chief Executive Officer and Yuji Okamura, 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 the 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.vince.com. Now I'll turn the call over to Brendan.
Good morning, everyone. Thank you for joining us today to discuss Vince Holden Corp's first quarter fiscal 2026 results. The momentum we built throughout fiscal 2025 has accelerated into the new year, and we are executing our strategic priorities with precision and confidence. I'm pleased to report that Vince delivered a first quarter performance with net sales up 10.5% compared to the prior year, reflecting strength across both of our channels. Direct-to-consumer sales grew 15.6%, and wholesale increased 5.9%. Our direct-to-consumer segment continues to be a standout performer. From store remodels to enhanced e-commerce capabilities, from expanded marketing support to the launch of drop-shape capabilities, we are creating more touchpoints and more compelling reasons for customers to engage with Finns. Q1 delivered outstanding performance in full-price customer acquisition, driving double-digit growth in both newly reactivated customers, Proof that our brand is resonating and our strategy is working. Our wholesale business is equally robust, with at-the-register sales up low double digits with U.S. major accounts, and relationships with key partners strengthening and benefiting from the broader resurgence in contemporary. Customers see real value in our product, appreciating the quality of the design and the effortless style the design sends. In women's, our strongest category was woven tops, including solid blouses, prints, and new cotton woven programs. We also saw strength in pants through the expansion of our core pants fabrications and additional color options and novelty prints. Dresses gained momentum at the end of Q1, driven by knit dresses and elevated event dressing and printed silks. In men's, we continue to see significant growth across all channels, driven by novelty textured knits and polos. We're also seeing increases across all living categories and sets. Head-to-toe dressing has elevated our average transaction values, with expanded offerings driving higher bottom sales penetration. Our men's business remains a significant growth opportunity. We're on a clear path towards 30% penetration over time. We are leaning into high potential areas, particularly in our direct-to-consumer channel. In e-commerce, our dropship business is expanding our reach without inventory risk. While still a small portion of the business, we recently launched handbags, belts, and accessories in Q2, in addition to shoes, adding another dimension to our offering. In our store business, we are continuing targeted remodels and strategically looking to reposition in existing markets and lifestyle centers where traffic and productivity trends are strongest. This summer, we will amplify store traffic through activations in key markets. Looking ahead, I'm more confident than I've ever been in this business, and we are pleased to be raising our full-year outlook. Over the last 12 months, we have fundamentally raised the bar for Vince, establishing a new baseline for growth. We're executing with discipline, our brand is resonating, and our customers are responding. This performance has extended into the second quarter, with sales trends running above the low double-digit quarter to date. As Yuji will discuss, we're balancing the strong performance with prudent planning. with half the quarter remaining and macroeconomic volatility persisting, we're maintaining a disciplined approach to our Q2 and fiscal year outlook. In summary, we're operating from a position of tremendous strength, on pace to deliver strong growth for the year. We remain excited for the opportunities we continue to see to maximize Vince Holden Corp as a platform. And I want to thank the team for their continued hard work. I look forward to updating you on our continued progress. Now I'll turn it over to you, G, to walk through the financials in more detail.
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