During Thursday’s Current trade, Shares of Vince Holding Corp (NYSE:VNCE), gain 2.41% to $4.68.
Vince Holding Corp. (VNCE), a leading contemporary fashion brand (“Vince” or the “Company”), stated unaudited results for the second quarter of fiscal 2015.
For the second quarter ended August 1, 2015:
- Net sales reduced 10.4% to $80.0 million from $89.3 million in the second quarter of fiscal 2014. The wholesale segment reduced 21.6% to $58.3 million and the direct-to-consumer segment raised 44.7% to $21.7 million over the second quarter of fiscal 2014. Comparable store sales raised 13.4%, counting e-commerce sales.
- Gross profit was $20.8 million, or 26.0% of net sales, which comprises a $14.4 million charge associated with the write-down of excess inventory and aged product to predictable net realizable value. Not Taking Into Account the inventory write-down, gross profit was $35.2 million, or 44.0% of net sales. This compares to gross profit of $44.0 million, or 49.3% of net sales in the second quarter of fiscal 2014.
- Selling, general, and administrative expenses were $27.3 million or 34.2% of sales. This comprised of $2.9 million of net administration transition costs related to executive severance and related costs. Not Taking Into Account these costs, selling, general and administrative costs were $24.5 million or 30.6% of net sales in the quarter. In the second quarter of fiscal 2014, selling, general and administrative costs were $24.1 million or 27.0% of sales, which comprised of costs related to the Company’s July 2014 secondary offering. Not Taking Into Account the Secondary Offering costs, selling, general and administrative expenses were $23.5 million, or 26.3% as a percent of sales in the second quarter of fiscal 2014.
Vince Holding Corp. designs, merchandises, and sells various contemporary fashion brand products in the United States and internationally. It operates through two segments, Wholesale and Direct-To-Consumer. The company offers a range of women’s products, such as cashmere sweaters, silk blouses, leather and suede leggings and jackets, dresses, denims, tanks, T-shirts, pants, handbags, and outerwear; and men’s products comprising T-shirts, knit and woven tops, sweaters, denim, pants, blazers, outerwear, and leather jackets. It also provides women’s and men’s footwear, and children’s apparel products.
Shares of 3D Systems Corporation (NYSE:DDD), inclined 0.85% to $13.01, during its current trading session.
3D Systems (DDD) declared that its 3D design-to-print goods and services are being offered through the General Services Administration (GSA) Plans program. Through the GSA Plans program, government agencies access product catalogs with pre-negotiated rates to expedite purchasing, accounting for nearly $50 billion a year in spending or 10 percent of overall federal procurement spending.
This addition of 3DS’ full portfolio coincides with the GSA’s declarement that it has created a 3D Printing Solutions catalog for agency customers—federal, state and local—to procure additive manufacturing products, services, and materials. According to GSA, this “Multiple Award Plan” (MAS 36, SIN 51-400) will support reduced lead times, inventory control, improved mission readiness and sustainability.
Implemented via a 20-year GSA contract with 3DS’ partner Phillips Corporation Federal Division, these listings will provide for the first time a single inventory for government agencies to purchase 3DS’ unparalleled range of end-to-end 3D products, from 3D printers to software, scanners, materials and cloud-based manufacturing services.
3D Systems Corporation, through its auxiliaries, operates as a provider of 3D printing centric design-to-manufacturing solutions in the Americas, Germany, and the Asia-Pacific, in addition to other European, the Middle East, and African countries. The company’s 3D printers transform data input from the format generated by 3D design software, CAD software, or 3D scanning and sculpting devices to printed parts using integrated, engineered plastic, metal, nylon, rubber, wax, and composite print materials.
Stillwater Mining Company (NYSE:SWC), during its Thursday’s current trading session decreased -0.98% to $9.05.
Stillwater Mining Company(SWC) declared that Mick McMullen, the Company’s President and Chief Executive Officer will present at the following investor conferences:
- Bank of America Merrill Lynch Canada Mining Conference in Toronto, Ontario on September 10, 2015. The presentation will start at about 3:00 p.m. Eastern Daylight Time.
- Denver Gold Forum in Denver, Colorado on September 21, 2015. The presentation will start at about 9:10 a.m. Mountain Daylight Time.
Stillwater Mining Company engages in the development, extraction, processing, smelting, and refining of platinum group metals (PGMs). It operates through Mine Production, PGM Recycling, Canadian Properties, and South American Properties segments. The company primarily explores for palladium, platinum, and associated metals, in addition to for nickel, copper, gold, silver, and rhodium ores. It conducts its mining operations at the Stillwater mine located near Nye, Montana; and at the East Boulder mine located in Sweet Grass County, Montana.
Finally, Lincoln National Corporation (NYSE:LNC), gained 1.12%, to $49.73.
Owning life insurance is an important step in protecting wealth, according to additional analysis of Lincoln Financial Group’s recently released M.O.O.D. (Measuring Optimism, Outlook, and Direction) of America study.
Lincoln’s M.O.O.D. survey finds that 74 percent of Americans believe life insurance coverage is an important step toward protecting wealth. It also indicates life insurance owners are significantly more likely than non-owners (75% vs. 64%) to feel “in control,” a mindset that combines how comfortable respondents feel about their overall life, personal/family life, health and financial future.
Despite these sentiments of confidence and empowerment, the survey reveals that only 49 percent of Americans actually own life insurance. Of those that do own it, 51 percent purchased it through an agent/advisor, 32 percent through their work, and 17 percent got it through both.
A separate study recently conducted by Lincoln, “The American Consumer study,” indicates that ownership levels may be due to the way consumer’s preceding their spending, and their perceptions around the benefits of life insurance.
The American Consumer study found consumers spend only one percent of their monthly household budget on life insurance while spending nearly 3.5 times as much on entertainment and restaurants. Understandably, nearly 50 percent goes to what are considered to be immediate needs such as housing and transportation.
Lincoln National Corporation, through its auxiliaries, engages in multiple insurance and retirement businesses in the United States. It operates through Annuities, Retirement Plan Services, Life Insurance, and Group Protection segments. The company sells a range of wealth protection, accumulation, and retirement income products and solutions. Its products comprise fixed and indexed annuities, variable annuities, universal life insurance (UL), variable universal life insurance (VUL), linked-benefit UL, term life insurance, indexed universal life insurance, and employer-sponsored retirement plans and services, in addition to group life, disability, and dental products.
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