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Vince Holding swings to loss in fiscal Q2

Vince Holding Corp. said its normalized net income for the fiscal second quarter ended Aug. 1 was a loss of 95 cents per share, compared with the S&P Capital IQ consensus estimate of $2.27 per share.

The per-share result swung to a loss from the prior-year profit of $2.78.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of $3.5 million, compared with income of $10.6 million in the year-earlier period.

The normalized profit margin fell to negative 4.4% from 11.9% in the year-earlier period.

Total revenue fell 10.4% on an annual basis to $80.0 million from $89.3 million, and total operating expenses climbed 20.5% from the prior-year period to $83.6 million from $69.4 million.

Reported net income totaled a loss of $5.1 million, or a loss of $1.40 per share, compared to income of $10.3 million, or $2.70 per share, in the year-earlier period.