Vince Holdings announced on Wednesday sales for the second quarter fell 1.3% to $73.2 million, hurt by declining wholesale revenues, as the U.S. fashion firm boosted profits during the quarter.
Vince
The New York-based company said the decline in the wholesale segment, which fell 5.1% to $44.8 million, followed a shift in timing of fall shipments, impacted by an “earlier uncertainty with respect to tariff policies and impact,” according to a press release.
Direct-to-consumer sales at the luxury fashion brand grew 5.5% to $28.5 million during the quarter ending Aug 2.
Despite the sales drop, net income grew to $12.1 million or $0.93 per diluted share, surging from net income of $0.6 million or $0.05 per diluted share in the same period last year.
“We are very proud of our second quarter performance which reflects disciplined execution and strong customer reception to our product offerings especially as we elongated our full-price selling season,” said Brendan Hoffman, chief executive officer of Vince.
“As we remain mindful of the dynamic macro environment, our ability to navigate today’s challenges while preserving product quality and customer loyalty remains our utmost priority. Given the strength of our underlying trends, we are pleased to be in a position to begin to reinvest in the business as we remain focused on the growth opportunities ahead for the Vince brand as well as the Vince Holding Corp. platform.”
Earlier this year, Vince opened its European flagship with a debut on Marylebone High Street in central London.
Calvin Klein opened on Tuesday a new global flagship in New York City, marking the brand’s return to its hometown.
Calvin Klein opens new flagship store in SoHo, New York. – Calvin Klein
Located at 530 Broadway in SoHo, the over 3,000-square-foot store draws inspiration from New York’s signature loft apartments, characterized by open wood ceilings, cast columns and concrete flooring, paired with neutral tones and stainless steel fixtures.
Meanwhile, the store’s exterior is finished in the brand’s charcoal tone, with large windows displaying a seasonal visual concept created in partnership with Perron Studios.
The store features curated spaces with denim and underwear at the center of the assortment, alongside men’s and women’s apparel and accessories. Beginning in spring 2026, the location will offer select styles from Calvin Klein Collection during designated periods. To mark the opening, the SoHo flagship is releasing a limited capsule collection of tees, sweatshirts, hats and totes featuring custom Calvin Klein SoHo branding.
“We are proud to return to one of the world’s most fashionable cities – and the birthplace of our iconic brand – with an elevated retail expression,” said David Savman, global brand president, Calvin Klein.
“This new global flagship, located just steps from our landmark Houston Street billboard, is a tribute to Calvin Klein’s New York heritage. It represents both the evolution of our retail experience and a tangible expression of the world of Calvin Klein. Calvin Klein embodies a distinctive, global way of living that meets culture, and this store is the latest step on our journey of taking our brand to the next level.”
The store follows recent flagship openings in Paris and Tokyo and reflects the company’s strategy to create premium lifestyle destinations built around its minimalist design DNA.
“New York is central to the DNA of the Calvin Klein brand,” added Stefan Larsson, CEO, PVH Corp.
“This homecoming is a key milestone as we build Calvin Klein into one of the most desirable lifestyle brands in the world. Step by step, we’re deepening brand relevance, driving consumer engagement and strengthening brand positioning across North America and globally.”
The Italian competition authority said on Tuesday it had opened two investigations into Swiss watchmaker Swatch and Japan’s Citizen Watch.
Reuters
The probes involve an alleged infringement of European rules on the fixing of retail prices displayed online by the groups’ authorised distributors.
The two companies may be limiting price competition among their retailers through a vertical agreement, by imposing retail prices on their distributors and adopting “retaliatory commercial measures” against those that fail to comply, the antitrust authority said in a statement.
The agency’s officials carried out inspections at the Italian offices of Swatch and Citizen on December 3.
Swatch and Citizen did not immediately respond to a request for comment.
British retail tycoon Mike Ashley has pledged around 670 million pounds ($890.6 million) worth of shares in his sportswear and fashion retailer Frasers Group Plc as collateral for a loan from HSBC, according to filing on Tuesday.
Reuters
Ashley’s holding company, MASH Beta Limited, which holds the majority of Frasers’ issued share capital, pledged about 103.6 million ordinary shares.
Frasers’ shares were down about 1.3% at 646.5 pence as of Tuesday’s last close.
This move comes after the company’s heavy investments in newer geographies and taking or increasing shareholding in recent months across companies, from fashion groups to electrical retailers. Mike Ashley holds roughly a 73% stake in Frasers, according to data compiled by LSEG.
The company whose portfolio includes Sports Direct, House of Fraser and Flannels, reaffirmed its full-year profit forecast earlier this month.