VNCE

03-Sep-15 16:11 ET
Vince Holding misses by $0.09, misses on revs; guides FY16 sharply lower; co decided to dispose of the vast majority of prior year product; names Mark Brody as Interim CEO  (9.32 +0.52)

Reports Q2 (Jul) earnings of $0.14 per share, excluding non-recurring items, $0.09 worse than the Capital IQ Consensus Estimate of $0.23; revenues fell 10.4% year/year to $79.99 mln vs the $86.32 mln consensus. Co issues downside guidance for FY16, sees EPS of $0.31-0.37, excluding non-recurring items, vs. $0.84 Capital IQ Consensus Estimate; sees FY16 revs of $285-295 mln vs. $342.5 mln Capital IQ Consensus Estimate.

03-Sep-15 16:03 ET
Vince Holding sees FY16 $0.31-0.37 vs $0.84 Capital IQ Consensus Estimate; sees revs $285-295 mln vs $342.5 mln Capital IQ Consensus Estimate

Read more: http://www.briefing.com

Buys VNCE at 3.62 this A.M.

As you can see above VNCE is having a hard time. With FY 16 guidance of .31 to .37  this(3.70) the high end of value. Low is 3.10 but we could wind up in the 2.50 area with a P/E in the 8 area.

The CEO is leaving with the CFO as interim CEO while a search for a new CEO commences.

 

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