Vince Holding Corp (NYSE:VNCE) Q4 2018 Earnings Conference Call Transcript

Apr 10, 2019 • 04:30 pm ET

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Vince Holding Corp (NYSE:VNCE) Q4 2018 Earnings Conference Call Transcript

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Presentation
Operator
Operator

Good afternoon. My name is Chris, and I'll be your conference operator today. At this time, I would like to welcome everyone to Vince Q4 2018 Earnings Conference Call. All lines have been placed on mute to prevent any background noise. After the speakers' remarks there will be a question-and-answer session. (Operator Instructions) Thank you. Amy Levy, Vice President, Investor Relations. You may begin the conference.

Executive
Amy Levy

Thank you, and good afternoon, everyone. Welcome to Vince Holding Corp's fourth quarter and annual fiscal 2018 earnings conference call. Hosting the call today are Brendan Hoffman, Chief Executive Officer; and Dave Stefko, 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 expect. 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. In addition, the company is presenting an estimated impact to earnings per share related to certain asset impairment charges, as well as a Tax Receivable Agreement adjustment. Certain components included in the calculation of such impact are non-GAAP measures. Discussions of these non-GAAP measures and reconciliations of them to their most comparable GAAP measures are included in today's press release and related schedules, which are available in the Investors section of the company's website at investors.vince.com. After the prepared remarks, the management will be available to take your questions for as long as time permits.

Now I'll turn the call over to Brendan.

Executive
Brendan L. Hoffman

Thank you, Amy, and good afternoon, everyone. 2018 marked the year of great progress for the Vince brand. We streamlined our wholesale business to focus on key partners where we achieved strong growth and market share gains. We opened six new stores and closed two stores as we optimized and expanded our store base. Drove double digit growth in our e-commerce sales in every quarter and successfully launched a subscription program Vince UNFOLD. Importantly, our women's collections are met with a highly favorable response in every season of 2018 across both our direct-to-consumer and wholesale channels. We have worked diligently to rejuvenate and stabilize the Vince brand and built a strong foundation to support long-term profitable growth. With this solid platform in place, we have recently engaged a strategic consulting firm to help us develop a multi-year growth strategy, which I look forward to sharing in the coming quarters. That said, we will continue to execute a number of growth initiatives in 2019, which I will discuss following some highlights on our