$VNCE
VINCE HOLDING CORP.

2023 Q2 Form 10-Q Financial Statement

#000095017023027589 Filed on June 13, 2023

View on sec.gov

Income Statement

Concept 2023 Q2 2022 Q2
Revenue $64.06M $78.38M
YoY Change -18.27% 36.23%
Cost Of Revenue $34.46M $42.74M
YoY Change -19.37% 33.36%
Gross Profit $29.59M $35.64M
YoY Change -16.96% 39.84%
Gross Profit Margin 46.2% 45.47%
Selling, General & Admin $32.73M $40.92M
YoY Change -20.01% 25.58%
% of Gross Profit 110.61% 114.83%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $1.366M $1.558M
YoY Change -12.32% -4.88%
% of Gross Profit 4.62% 4.37%
Operating Expenses $32.73M $40.92M
YoY Change -20.01% 25.58%
Operating Profit -$3.141M -$5.285M
YoY Change -40.57% -25.57%
Interest Expense -$3.290M $1.884M
YoY Change -274.63% -200.32%
% of Operating Profit
Other Income/Expense, Net
YoY Change
Pretax Income -$5.666M -$7.169M
YoY Change -20.97% -20.16%
Income Tax -$5.285M $0.00
% Of Pretax Income
Net Earnings -$381.0K -$7.169M
YoY Change -94.69% -38.32%
Net Earnings / Revenue -0.59% -9.15%
Basic Earnings Per Share -$0.03 -$0.60
Diluted Earnings Per Share -$0.03 -$595.9K
COMMON SHARES
Basic Shares Outstanding 12.34M 12.03M
Diluted Shares Outstanding 12.34M 12.03M

Balance Sheet

Concept 2023 Q2 2022 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $422.0K $1.260M
YoY Change -66.51% -8.03%
Cash & Equivalents $422.0K $1.260M
Short-Term Investments
Other Short-Term Assets $4.201M $4.644M
YoY Change -9.54% -21.53%
Inventory $80.04M $83.35M
Prepaid Expenses
Receivables $17.37M $25.14M
Other Receivables $0.00 $0.00
Total Short-Term Assets $102.0M $114.4M
YoY Change -10.8% 8.06%
LONG-TERM ASSETS
Property, Plant & Equipment $78.15M $103.8M
YoY Change -24.72% -3.61%
Goodwill $31.97M $31.97M
YoY Change 0.0%
Intangibles $75.67M
YoY Change
Long-Term Investments
YoY Change
Other Assets $71.94M $3.480M
YoY Change 1967.24% -12.05%
Total Long-Term Assets $182.1M $214.9M
YoY Change -15.29% -2.28%
TOTAL ASSETS
Total Short-Term Assets $102.0M $114.4M
Total Long-Term Assets $182.1M $214.9M
Total Assets $284.1M $329.3M
YoY Change -13.73% 1.08%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $45.98M $42.58M
YoY Change 7.97% 0.58%
Accrued Expenses $40.33M $44.30M
YoY Change -8.96% 3.51%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $3.500M $3.500M
YoY Change 0.0% 409.46%
Total Short-Term Liabilities $89.81M $90.38M
YoY Change -0.64% 5.31%
LONG-TERM LIABILITIES
Long-Term Debt $102.4M $93.83M
YoY Change 9.18% 10.02%
Other Long-Term Liabilities $71.54M $89.64M
YoY Change -20.19% -6.07%
Total Long-Term Liabilities $174.0M $93.83M
YoY Change 85.43% 10.02%
TOTAL LIABILITIES
Total Short-Term Liabilities $89.81M $90.38M
Total Long-Term Liabilities $174.0M $93.83M
Total Liabilities $263.8M $279.9M
YoY Change -5.76% 63.59%
SHAREHOLDERS EQUITY
Retained Earnings -$1.123B
YoY Change
Common Stock $1.144B
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $20.30M $49.39M
YoY Change
Total Liabilities & Shareholders Equity $284.1M $329.3M
YoY Change -13.73% 1.08%

Cashflow Statement

Concept 2023 Q2 2022 Q2
OPERATING ACTIVITIES
Net Income -$381.0K -$7.169M
YoY Change -94.69% -38.32%
Depreciation, Depletion And Amortization $1.366M $1.558M
YoY Change -12.32% -4.88%
Cash From Operating Activities $5.278M -$4.408M
YoY Change -219.74% 57.77%
INVESTING ACTIVITIES
Capital Expenditures $115.0K -$622.0K
YoY Change -118.49% 30.67%
Acquisitions
YoY Change
Other Investing Activities $1.025M
YoY Change
Cash From Investing Activities $910.0K -$622.0K
YoY Change -246.3% 30.67%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $305.0K
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -6.845M 5.246M
YoY Change -230.48% 543.68%
NET CHANGE
Cash From Operating Activities 5.278M -4.408M
Cash From Investing Activities 910.0K -622.0K
Cash From Financing Activities -6.845M 5.246M
Net Change In Cash -657.0K -5.030M
YoY Change -86.94% 104.89%
FREE CASH FLOW
Cash From Operating Activities $5.278M -$4.408M
Capital Expenditures $115.0K -$622.0K
Free Cash Flow $5.163M -$3.786M
YoY Change -236.37% 63.33%

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-15000
CY2023Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
1116000
CY2022Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
1096000
CY2023Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
459000
CY2022Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
1297000
CY2023Q2 us-gaap Restricted Cash Current
RestrictedCashCurrent
37000
CY2022Q2 us-gaap Restricted Cash Current
RestrictedCashCurrent
37000
CY2023Q2 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
422000
CY2022Q2 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
1260000
CY2023Q2 us-gaap Interest Paid Net
InterestPaidNet
877000
CY2022Q2 us-gaap Interest Paid Net
InterestPaidNet
877000
CY2023Q2 us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
6000
CY2022Q2 us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
9000
CY2023Q2 us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
104000
CY2022Q2 us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
181000
CY2023Q2 vnce Deferred Financing Fees In Accrued Liabilities
DeferredFinancingFeesInAccruedLiabilities
925000
CY2023Q2 us-gaap Nature Of Operations
NatureOfOperations
<p style="text-indent:4.533%;font-size:10.0pt;margin-top:12.0pt;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:bold;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">(A) Description of Business:</span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;"> The Company is a global retail company that operates the Vince brand women's and men's ready to wear business. Vince, established in 2002, is a leading global luxury apparel and accessories brand best known for creating elevated yet understated pieces for every day effortless style. Previously, the Company also owned and operated the Rebecca Taylor and Parker brands until the sale of the respective intellectual property was completed, as discussed below.</span><span style="color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;"> </span></p><p style="text-indent:4.533%;font-size:10.0pt;margin-top:6.0pt;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">On April 21, 2023 the Company entered into a strategic partnership ("Authentic Transaction") with Authentic Brands Group, LLC ("Authentic"), a global brand development, marketing and entertainment platform, whereby the Company will contribute its intellectual property to a newly formed Authentic subsidiary ("ABG Vince") for total consideration of $</span><span style="font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">76,500</span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;"> in cash and a </span><span style="font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">25</span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">% membership interest in ABG Vince. Through the agreement, Authentic will own the majority stake of </span><span style="font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">75</span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">% membership interest in ABG Vince. The Company closed the Asset Sale on May 25, 2023. The Cash Consideration generated by the Asset Sale was used to prepay in full Vince, LLC's existing Term Loan Credit Facility (as defined below) and to repay a portion of the outstanding borrowings under Vince, LLC's 2018 Revolving Credit Facility (as defined below). On May 25, 2023, in connection with the Authentic Transaction, Vince, LLC, entered into a License Agreement (the "License Agreement") with ABG-Vince LLC, which provides Vince, LLC with an exclusive, long-term license to use the Licensed Property in the Territory to the Approved Accounts (each as defined in the License Agreement). See Note 14 "Subsequent Events" for additional information.</span></p><p style="text-indent:4.533%;font-size:10.0pt;margin-top:6.0pt;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">Concurrent with the Authentic Transaction, Vince, LLC entered into the certain Consent and Second Amendment to Amended and Restated Credit Agreement (the "Second Amendment to ABL Credit Agreement") to adjust the initial commitment level commensurate with the expected net proceeds after transaction related fees and the expected debt pay down, and to revise the maturity date to </span><span style="font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">June 30, 2024</span></span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">, among other things, which was effective upon the closing of the Asset Sale. See Note 4 "Long-Term Debt and Financing Arrangements" for additional information.</span></p><p style="text-indent:4.533%;font-size:10.0pt;margin-top:6.0pt;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">Rebecca Taylor, founded in 1996 in New York City, was a contemporary womenswear line lauded for its signature prints, romantic detailing and vintage inspired aesthetic, reimagined for a modern era.</span><span style="background-color:rgba(0,0,0,0);color:rgba(85,85,85,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Arial&quot;, sans-serif;min-width:fit-content;"> </span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">On September 12, 2022, the Company announced its decision to wind down the Rebecca Taylor business. On December 22, 2022, the Company's indirectly wholly owned subsidiary, Rebecca Taylor, Inc., completed the sale of its intellectual property and certain related ancillary assets to RT IPCO, LLC, an affiliate of Ramani Group.</span></p><p style="text-indent:4.533%;font-size:10.0pt;margin-top:6.0pt;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">Parker, founded in 2008 in New York City, was a contemporary women's fashion brand that was trend focused. During the first half of fiscal 2020 the Company decided to pause the creation of new products for the Parker brand to focus resources on the operations of the Vince and Rebecca Taylor brands. On February 17, 2023, the Company's indirectly wholly owned subsidiary, Parker Lifestyle, LLC, completed the sale of its intellectual property and certain related ancillary assets to Parker IP Co. LLC, an affiliate of BCI Brands, for $</span><span style="font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">1,025</span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">. The Company recognized a gain of $</span><span style="font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">765</span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;"> on the sale. Net cash proceeds from the sale were used to repay $</span><span style="font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">838</span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;"> of borrowings under the Term Loan Credit Facility.</span><span style="color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;"> </span></p><p style="text-indent:4.533%;font-size:10.0pt;margin-top:6.0pt;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">The Company reaches its customers through a variety of channels, specifically through major wholesale department stores and specialty stores in the United States ("U.S.") and select international markets, as well as through the Company's branded retail locations and the Company's websites. The Company designs products in the U.S. and sources the vast majority of products from contract manufacturers outside the U.S., primarily in Asia. Products are manufactured to meet the Company's product specifications and labor standards.</span><span style="color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;"> </span></p>
CY2023Q2 us-gaap Use Of Estimates
UseOfEstimates
<p style="text-indent:4.533%;font-size:10.0pt;margin-top:12.0pt;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:bold;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">(C) Use of Estimates</span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">: </span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">The preparation of financial statements in conformity with GAAP requires that management make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements which affect revenues and expenses during the period reported. Estimates are adjusted when</span><span style="color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;"> </span></p><p style="text-indent:0.0%;font-size:10.0pt;margin-top:12.0pt;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">necessary </span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">to reflect actual experience. Significant estimates and assumptions may affect many items in the financial statements. Actual results could differ from estimates and assumptions in amounts that may be material to the consolidated financial statements.</span><span style="color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;"> </span></p>
CY2023Q2 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
1537000
CY2023Q1 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
1617000
CY2023Q2 us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
111000
CY2023Q1 us-gaap Goodwill
Goodwill
31973000
CY2023Q2 us-gaap Goodwill
Goodwill
31973000
CY2023Q2 us-gaap Goodwill Impaired Accumulated Impairment Loss
GoodwillImpairedAccumulatedImpairmentLoss
101845000
CY2023Q2 us-gaap Intangible Assets Gross Excluding Goodwill
IntangibleAssetsGrossExcludingGoodwill
113820000
CY2023Q2 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
9113000
CY2023Q2 vnce Intangible Assets Excluding Goodwill Accumulated Impairment Loss
IntangibleAssetsExcludingGoodwillAccumulatedImpairmentLoss
34750000
CY2023Q2 vnce Finite Lived Intangible Assets Reclassification To Assets Held For Sale
FiniteLivedIntangibleAssetsReclassificationToAssetsHeldForSale
-69957000
CY2023Q1 us-gaap Intangible Assets Gross Excluding Goodwill
IntangibleAssetsGrossExcludingGoodwill
146305000
CY2023Q1 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
22547000
CY2023Q1 vnce Intangible Assets Excluding Goodwill Accumulated Impairment Loss
IntangibleAssetsExcludingGoodwillAccumulatedImpairmentLoss
53392000
CY2023Q1 vnce Finite Lived Intangible Assets Reclassification To Assets Held For Sale
FiniteLivedIntangibleAssetsReclassificationToAssetsHeldForSale
-260000
CY2023Q1 us-gaap Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
70106000
CY2023Q2 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
149000
CY2022Q2 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
164000
CY2023Q2 vnce Non Financial Assets Fair Value Disclosure
NonFinancialAssetsFairValueDisclosure
0
CY2023Q1 vnce Non Financial Assets Fair Value Disclosure
NonFinancialAssetsFairValueDisclosure
0
CY2023Q2 us-gaap Nonfinancial Liabilities Fair Value Disclosure
NonfinancialLiabilitiesFairValueDisclosure
0
CY2023Q1 us-gaap Nonfinancial Liabilities Fair Value Disclosure
NonfinancialLiabilitiesFairValueDisclosure
0
CY2023Q2 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
108018000
CY2023Q1 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
113832000
CY2023Q2 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
108018000
CY2023Q1 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
113832000
CY2023Q2 us-gaap Long Term Debt Current
LongTermDebtCurrent
3500000
CY2023Q1 us-gaap Long Term Debt Current
LongTermDebtCurrent
3500000
CY2023Q2 us-gaap Deferred Finance Costs Noncurrent Net
DeferredFinanceCostsNoncurrentNet
2076000
CY2023Q1 us-gaap Deferred Finance Costs Noncurrent Net
DeferredFinanceCostsNoncurrentNet
2254000
CY2023Q2 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
102442000
CY2023Q1 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
108078000
CY2020Q2 us-gaap Debt Instrument Basis Spread On Variable Rate1
DebtInstrumentBasisSpreadOnVariableRate1
0
CY2023Q2 us-gaap Inventory Finished Goods Net Of Reserves
InventoryFinishedGoodsNetOfReserves
80036000
CY2023Q1 us-gaap Inventory Finished Goods Net Of Reserves
InventoryFinishedGoodsNetOfReserves
90008000
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
58
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
38.77
CY2023 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P2Y8M12D
CY2023Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
58
CY2023Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
38.77
CY2023Q2 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P2Y4M24D
CY2023Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
58
CY2023Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
38.77
CY2023Q2 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1
P2Y4M24D
CY2023Q2 us-gaap Share Based Compensation
ShareBasedCompensation
420000
CY2022Q2 us-gaap Share Based Compensation
ShareBasedCompensation
609000
CY2023Q2 us-gaap Stock Issued During Period Shares New Issues
StockIssuedDuringPeriodSharesNewIssues
0
CY2023Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
12342355
CY2022Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
12030826
CY2023Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
12342355
CY2022Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
12030826
CY2022Q2 us-gaap Lease Cost
LeaseCost
6554000
CY2023Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
-5285000
CY2023Q2 vnce Discrete Tax Impact From Change In Classification Of Tradename
DiscreteTaxImpactFromChangeInClassificationOfTradename
6127000
CY2023Q2 vnce Tax Expense Excluding Discrete Tax Impact
TaxExpenseExcludingDiscreteTaxImpact
842000
CY2022Q2 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0
CY2023Q2 us-gaap Lessee Operating Lease Option To Extend
LesseeOperatingLeaseOptionToExtend
The Company has operating leases for real estate (primarily retail stores, storage and office spaces) some of which have initial terms of 10 years, and in many instances can be extended for an additional term, while the Company's more recent leases are subject to shorter terms as a result of the implementation of the strategy to pursue shorter lease terms.
CY2023Q2 us-gaap Lessee Operating Lease Term Of Contract
LesseeOperatingLeaseTermOfContract
P10Y
CY2023Q2 us-gaap Lessee Operating Lease Existence Of Option To Extend
LesseeOperatingLeaseExistenceOfOptionToExtend
true
CY2023Q2 us-gaap Operating Lease Cost
OperatingLeaseCost
3797000
CY2022Q2 us-gaap Operating Lease Cost
OperatingLeaseCost
6320000
CY2023Q2 vnce Variable Lease Cost Income
VariableLeaseCostIncome
28000
CY2022Q2 vnce Variable Lease Cost Income
VariableLeaseCostIncome
234000
CY2023Q2 us-gaap Lease Cost
LeaseCost
3825000
CY2023Q2 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
18912000
CY2023Q2 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
21990000
CY2023Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
15349000
CY2023Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
11698000
CY2023Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
8985000
CY2023Q2 vnce Lessee Operating Lease Liability Payments Due After Year Four
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFour
28534000
CY2023Q2 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
105468000
CY2023Q2 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
19070000
CY2023Q2 us-gaap Operating Lease Liability
OperatingLeaseLiability
86398000
CY2023Q2 vnce Lessee Operating Lease Future Minimum Payment Lease Not Yet Commenced
LesseeOperatingLeaseFutureMinimumPaymentLeaseNotYetCommenced
12427000
CY2023Q2 us-gaap Number Of Reportable Segments
NumberOfReportableSegments
3
CY2023Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
64056000
CY2023Q2 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-5666000
CY2022Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
78376000
CY2022Q2 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-7169000
CY2023Q2 us-gaap Assets
Assets
284094000
CY2023Q1 us-gaap Assets
Assets
303345000
CY2023Q2 vnce Transaction Related Expenses Asset Sale
TransactionRelatedExpensesAssetSale
6000000
CY2023Q2 vnce Transaction Related Expenses Asset Sale
TransactionRelatedExpensesAssetSale
2741000

Files In Submission

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0000950170-23-027589-index-headers.html Edgar Link pending
0000950170-23-027589-index.html Edgar Link pending
0000950170-23-027589.txt Edgar Link pending
0000950170-23-027589-xbrl.zip Edgar Link pending
Financial_Report.xlsx Edgar Link pending
FilingSummary.xml Edgar Link unprocessable
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