Condensed Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands |
May 03, 2025 |
Feb. 01, 2025 |
|---|---|---|
| Allowance for doubtful accounts | $ 372 | $ 335 |
| Common stock, par value | $ 0.01 | $ 0.01 |
| Common stock, shares authorized | 100,000,000 | 100,000,000 |
| Common stock, shares issued | 12,846,578 | 12,758,852 |
| Common stock, shares outstanding | 12,846,578 | 12,758,852 |
| Receivables | $ 638 | |
| Related Party [Member] | ||
| Receivables | $ 599 | 614 |
| Prepaid royalty expense | $ 1,818 | |
| Accrued royalty expenses | 3,513 | |
| Former Related Party [Member] | ||
| Receivables | $ 24 |
Condensed Consolidated Statements of Operations and Comprehensive Income (Loss) - USD ($) $ in Thousands |
3 Months Ended | |||||||||
|---|---|---|---|---|---|---|---|---|---|---|
May 03, 2025 |
May 04, 2024 |
|||||||||
| Income Statement [Abstract] | ||||||||||
| Net sales | [1] | $ 57,933 | $ 59,171 | |||||||
| Cost of products sold | [2] | 28,770 | 29,258 | |||||||
| Gross profit | 29,163 | 29,913 | ||||||||
| Gain on sale of subsidiary | (7,634) | |||||||||
| Selling, general and administrative expenses | [3] | 33,601 | 31,943 | |||||||
| (Loss) income from operations | (4,438) | 5,604 | ||||||||
| Interest expense, net | [4] | 856 | 1,646 | |||||||
| (Loss) income before income taxes and equity in net income (loss) of equity method investment | (5,294) | 3,958 | ||||||||
| Provision (benefit) for income taxes | (887) | |||||||||
| (Loss) income before equity in net income (loss) of equity method investment | (5,294) | 4,845 | ||||||||
| Equity in net income (loss) of equity method investment | 491 | (465) | ||||||||
| Net (loss) income | (4,803) | 4,380 | ||||||||
| Other comprehensive income: | ||||||||||
| Foreign currency translation adjustments | 76 | 123 | ||||||||
| Comprehensive (loss) income | $ (4,727) | $ 4,503 | ||||||||
| (Loss) earnings per share: | ||||||||||
| Basic (loss) earnings per share | $ (0.37) | $ 0.35 | ||||||||
| Diluted (loss) earnings per share | $ (0.37) | $ 0.35 | ||||||||
| Weighted average shares outstanding: | ||||||||||
| Basic | 12,820,338 | 12,507,561 | ||||||||
| Diluted | 12,820,338 | 12,611,901 | ||||||||
| ||||||||||
Condensed Consolidated Statements of Operations and Comprehensive Income (Loss) (Parenthetical) - USD ($) $ in Thousands |
3 Months Ended | |||||||
|---|---|---|---|---|---|---|---|---|
May 03, 2025 |
May 04, 2024 |
|||||||
| Net Sales | [1] | $ 57,933 | $ 59,171 | |||||
| Cost of products sold | [2] | 28,770 | 29,258 | |||||
| SG&A expenses | [3] | 33,601 | 31,943 | |||||
| Capitalized PIK Interest | 243 | 1,131 | ||||||
| Related Party [Member] | ||||||||
| Net Sales | 149 | 401 | ||||||
| Royalty expense | 2,582 | 2,688 | ||||||
| Cost of products sold | 230 | 12 | ||||||
| SG&A expenses | 195 | 136 | ||||||
| Related Party [Member] | Third Lien Credit Agreement [Member] | ||||||||
| Capitalized PIK Interest | $ 243 | $ 1,131 | ||||||
| ||||||||
Condensed Consolidated Statements of Stockholders' Equity - USD ($) $ in Thousands |
Total |
Common Stock [Member] |
Additional Paid-In Capital [Member] |
Accumulated Deficit [Member] |
Accumulated Other Comprehensive Loss [Member] |
|---|---|---|---|---|---|
| Beginning Balance at Feb. 03, 2024 | $ 47,153 | $ 125 | $ 1,144,740 | $ (1,097,634) | $ (78) |
| Beginning Balance, shares at Feb. 03, 2024 | 12,506,556 | ||||
| Comprehensive income (loss): | |||||
| Net income (loss) | 4,380 | 4,380 | |||
| Foreign currency translation adjustment | 123 | 123 | |||
| Share-based compensation expense | (5) | (5) | |||
| Restricted stock unit vestings, shares | 1,486 | ||||
| Tax withholdings related to restricted stock vesting | (2) | (2) | |||
| Tax withholdings related to restricted stock vesting, shares | (611) | ||||
| Issuance of common stock | 7 | 7 | |||
| Issuance of common stock, shares | 2,484 | ||||
| Ending Balance at May. 04, 2024 | 51,656 | $ 125 | 1,144,740 | (1,093,254) | 45 |
| Ending Balance, shares at May. 04, 2024 | 12,509,915 | ||||
| Beginning Balance at Feb. 01, 2025 | $ 41,759 | $ 128 | 1,158,279 | (1,116,681) | 33 |
| Beginning Balance, shares at Feb. 01, 2025 | 12,758,852 | 12,758,852 | |||
| Comprehensive income (loss): | |||||
| Net income (loss) | $ (4,803) | (4,803) | |||
| Foreign currency translation adjustment | 76 | 76 | |||
| Share-based compensation expense | 146 | 146 | |||
| Restricted stock unit vestings, shares | 84,215 | ||||
| Issuance of common stock | 4 | 4 | |||
| Issuance of common stock, shares | 3,511 | ||||
| Other | (15) | (15) | |||
| Ending Balance at May. 03, 2025 | $ 37,167 | $ 128 | $ 1,158,414 | $ (1,121,484) | $ 109 |
| Ending Balance, shares at May. 03, 2025 | 12,846,578 | 12,846,578 |
Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands |
3 Months Ended | |
|---|---|---|
May 03, 2025 |
May 04, 2024 |
|
| Operating activities | ||
| Net (loss) income | $ (4,803) | $ 4,380 |
| Add (deduct) items not affecting operating cash flows: | ||
| Depreciation and amortization | 761 | 1,013 |
| Allowance for doubtful accounts | 32 | (51) |
| Gain on sale of subsidiary | (7,634) | |
| Loss on disposal of property and equipment | 43 | 10 |
| Amortization of deferred financing costs | 91 | 79 |
| Deferred income taxes | (1,346) | |
| Share-based compensation expense | 146 | (5) |
| Capitalized PIK Interest due to loan with former related party | 243 | 1,131 |
| Equity in net income of equity method investment, net of distributions | 1,285 | 1,072 |
| Changes in assets and liabilities: | ||
| Receivables, net | 9,873 | (1,527) |
| Inventories | (3,078) | 2,100 |
| Prepaid expenses and other current assets | (3,699) | (1,952) |
| Accounts payable and accrued expenses | (11,560) | (871) |
| Other assets and liabilities | (1,151) | (277) |
| Net cash used in operating activities | (11,817) | (3,878) |
| Investing activities | ||
| Payments for capital expenditures | (1,424) | (740) |
| Net cash used in investing activities | (1,424) | (740) |
| Financing activities | ||
| Proceeds from borrowings under the Revolving Credit Facilities | 63,500 | 46,400 |
| Repayment of borrowings under the Revolving Credit Facilities | (48,150) | (41,400) |
| Tax withholdings related to restricted stock vesting | (2) | |
| Proceeds from issuance of common stock | 4 | 7 |
| Financing fees | (135) | (2) |
| Net cash provided by financing activities | 15,219 | 5,003 |
| Increase in cash, cash equivalents, and restricted cash | 1,978 | 385 |
| Effect of exchange rate changes on cash, cash equivalents, and restricted cash | 3 | (4) |
| Cash, cash equivalents, and restricted cash, beginning of period | 666 | 1,219 |
| Cash, cash equivalents, and restricted cash, end of period | 2,647 | 1,600 |
| Less: restricted cash at end of period | 59 | 861 |
| Cash and cash equivalents per balance sheet at end of period | 2,588 | 739 |
| Supplemental Disclosures of Cash Flow Information | ||
| Cash payments for interest | 622 | 397 |
| Cash payments for income taxes, net of refunds | 11 | 11 |
| Supplemental Disclosures of Non-Cash Investing and Financing Activities | ||
| Capital expenditures in accounts payable and accrued liabilities | $ 1,116 | 261 |
| Deferred financing fees in accrued liabilities | $ 6 | |
Pay vs Performance Disclosure - USD ($) $ in Thousands |
3 Months Ended | |
|---|---|---|
May 03, 2025 |
May 04, 2024 |
|
| Pay vs Performance Disclosure | ||
| Net Income (Loss) | $ (4,803) | $ 4,380 |
Insider Trading Arrangements |
3 Months Ended |
|---|---|
May 03, 2025 | |
| Trading Arrangements, by Individual | |
| Rule 10b5-1 Arrangement Adopted | false |
| Non-Rule 10b5-1 Arrangement Adopted | false |
| Rule 10b5-1 Arrangement Terminated | false |
| Non-Rule 10b5-1 Arrangement Terminated | false |
| Rule 10b5-1 Arr Modified Flag | false |
| Non-Rule 10b5-1 Arr Modified Flag | false |
Description of Business and Basis of Presentation |
3 Months Ended |
|---|---|
May 03, 2025 | |
| Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
| Description of Business and Basis of Presentation | Note 1. Description of Business and Basis of Presentation (A) Description of Business: 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. 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 contributed its intellectual property to a newly formed Authentic subsidiary ("ABG Vince") for cash consideration and a membership interest in ABG Vince. The Company closed the Asset Sale (as defined below) on May 25, 2023. On May 25, 2023, in connection with the Authentic Transaction, V Opco, LLC (formerly, Vince, LLC) ("V Opco"), a wholly-owned subsidiary of the Company, entered into a License Agreement (the "License Agreement") with ABG-Vince LLC, which provides V Opco 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 2 "Recent Transactions" for additional information. 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. 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. On May 3, 2024, V Opco completed the sale of all outstanding shares of Rebecca Taylor, Inc., which held the Rebecca Taylor business prior to the wind down, to Nova Acquisitions, LLC. See Note 2 "Recent Transactions" for further information. 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. On January 22, 2025, P180, a venture focused on accelerating growth and profitability in the luxury apparel sector, acquired a majority stake in the Company (the “P180 Acquisition”) from affiliates of Sun Capital Partners, Inc. (collectively, “Sun Capital”). Simultaneously with the P180 Acquisition, V Opco amended its existing credit agreement with Bank of America, N.A. (“BofA”). The amendment consented to, among other things, the change in control in connection with the P180 Acquisition, as well as a partial pay down of the subordinated debt with SK Financial Services, LLC, an affiliate of Sun Capital, through increased borrowings under the credit agreement with BofA. On the same day, V Opco paid $15,000 to SK Financial Services, LLC using proceeds from the credit facility, which resulted in a pay-down of $20,000 of the subordinated debt (the “Sun Debt Paydown”). In addition, in connection with the P180 Acquisition, P180 acquired and assumed $7,000 of the loans outstanding pursuant to the subordinated debt and immediately thereafter cancelled such $7,000 (the “P180 Debt Forgiveness”). Following the Sun Debt Paydown and P180 Debt Forgiveness, the outstanding principal amount of subordinated debt was reduced by approximately $27,000 with $7,500 remaining outstanding, which will continue to accrue payment-in-kind interest in accordance with, and otherwise be subject to, the terms and conditions therein. See Note 2 "Recent Transactions" for additional information. 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. (B) Basis of Presentation: The accompanying condensed consolidated financial statements have been prepared in conformity with U.S. generally accepted accounting principles ("GAAP") and the rules and regulations of the U.S. Securities and Exchange Commission (the "SEC"). Certain information and footnote disclosures normally included in financial statements prepared in accordance with GAAP have been condensed or omitted. Therefore, these financial statements should be read in conjunction with VHC's audited financial statements for the fiscal year ended February 1, 2025, as set forth in the 2024 Annual Report on Form 10-K. The condensed consolidated financial statements include the Company's accounts and the accounts of the Company's wholly-owned subsidiaries as of May 3, 2025. All intercompany accounts and transactions have been eliminated in consolidation. In the opinion of management, the accompanying unaudited condensed consolidated financial statements contain all adjustments (consisting solely of normal recurring adjustments) and disclosures necessary for a fair statement of the results for the interim periods presented. The results of operations for these periods are not necessarily comparable to, or indicative of, results of any other interim period or the fiscal year as a whole. (C) Use of Estimates: 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 necessary 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 condensed consolidated financial statements. (D) Sources and Uses of Liquidity: The Company's sources of liquidity are cash and cash equivalents, cash flows from operations, if any, borrowings available under the 2023 Revolving Credit Facility (as defined in Note 4 "Long-Term Debt and Financing Arrangements") and the Company's ability to access the capital markets, including the Sales Agreement entered into with Virtu Americas LLC in June 2023 (see Note 7 "Stockholders' Equity" for further information). The Company's primary cash needs are funding working capital requirements, including royalty payments under the License Agreement, meeting debt service requirements and capital expenditures for new stores and related leasehold improvements. The most significant components of the Company's working capital are cash and cash equivalents, accounts receivable, inventories, accounts payable and other current liabilities. The Company’s future financial results may be subject to substantial fluctuations, and may be impacted by business conditions and macroeconomic factors, particularly in light of the recently implemented tariffs. While we expect to meet our monthly Excess Availability (as defined in the 2023 Revolving Credit Facility Agreement) covenant and believe that our other sources of liquidity will generate sufficient cash flows to meet our obligations for the next twelve months from the date these financial statements are issued, the foregoing expectation is dependent on a number of factors, including, among others, our ability to generate sufficient cash flow from a combination of tariff mitigating initiatives, our ongoing ability to manage our operating obligations, the ability of our partners to satisfy their payment obligations to us when due, the results of the currently ongoing inventory valuation and potential borrowing restrictions imposed by our lenders based on their credit judgment, all of which could be significantly and negatively impacted by the recently implemented and new retaliatory and/or reciprocal tariffs, as well as changing trade policies between the U.S. and its trading partners, in addition to other macroeconomic factors. Any material negative impact from these factors or others could require us to implement alternative plans to satisfy our liquidity needs which may be unsuccessful. In the event that we are unable to timely service our debt, meet other contractual payment obligations or fund our other liquidity needs, we may need to refinance all or a portion of our indebtedness before maturity, seek waivers of or amendments to our contractual obligations for payment, reduce or delay scheduled expansions and capital expenditures, liquidate inventory through additional discounting, sell material assets or operations, or seek other financing opportunities. There can be no assurance that these options would be readily available to us and our inability to address our liquidity needs could materially and adversely affect our operations and jeopardize our business, financial condition and results of operations. (E) Revenue Recognition: The Company recognizes revenue when performance obligations identified under the terms of contracts with its customers are satisfied, which generally occurs upon the transfer of control in accordance with the contractual terms and conditions of the sale. Sales are recognized when the control of the goods are transferred to the customer for the Company's wholesale business, upon receipt by the customer for the Company's e-commerce business, and at the time of sale to the consumer for the Company's retail business. See Note 12 "Segment Financial Information" for disaggregated revenue amounts by segment. Revenue associated with gift cards is recognized upon redemption and unredeemed balances are considered a contract liability and recorded within other accrued expenses, which are subject to escheatment within the jurisdictions in which the Company operates. As of May 3, 2025 and February 1, 2025, the contract liability was $1,484 and $1,544, respectively. For the three months ended May 3, 2025, the Company recognized $101 of revenue that was previously included in the contract liability as of February 1, 2025. (F) Recent Accounting Pronouncements: Except as noted below, the Company has considered all recent accounting pronouncements and has concluded that there are no recent accounting pronouncements that may have a material impact on its Consolidated Financial Statements, based on current information. Recently Issued Accounting Pronouncements In December 2023, the FASB issued ASU 2023-09: Income Taxes (Topic 740): Improvements to Income Tax Disclosures, which requires expanded disclosure within the rate reconciliation as well as disaggregation of annual taxes paid. This amendment is effective for annual periods beginning after December 15, 2024, and is applied prospectively with the option for retrospective application. Early adoption is permitted. Other than the new disclosure requirements, this guidance will not have an impact on the Company’s consolidated financial statements. In November 2024, the FASB issued ASU No. 2024-03: Income Statement-Reporting Comprehensive Income-Expense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement Expenses. The ASU is intended to improve disclosures about a public business entity's expenses, primarily through additional disaggregation of income statement expenses. The FASB further clarified the effective date in January 2025 with the issuance of ASU 2025-01: Income Statement-Reporting Comprehensive Income-Expense Disaggregation Disclosures (Subtopic 220-40): Clarifying the Effective Date. The ASU is effective for fiscal years beginning after December 15, 2026, and interim periods beginning after December 15, 2027, with early adoption permitted. The requirements of the ASU will be applied prospectively with the option for retrospective application. We are currently evaluating the ASU to determine the impact on the Company's disclosures. |
Recent Transactions |
3 Months Ended |
|---|---|
May 03, 2025 | |
| Discontinued Operations and Disposal Groups [Abstract] | |
| Recent Transactions | Note 2. Recent Transactions Wind Down and Sale of Rebecca Taylor Business 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. On July 7, 2023, Rebecca Taylor, Inc. and Rebecca Taylor Retail Stores, LLC, each as an assignor, made a General Assignment for the Benefit of the Creditors (the "Assignment") to a respective assignee, an unaffiliated California limited liability company, pursuant to California state law. The Assignment resulted in the residual rights and assets of each of Rebecca Taylor, Inc. and Rebecca Taylor Retail Stores, LLC being assigned and transferred to such assignees. As a result, Rebecca Taylor, Inc. and Rebecca Taylor Retail Stores, LLC no longer held any assets. On May 3, 2024, V Opco, LLC (formerly, Vince, LLC) ("V Opco") completed the sale (the "Transaction") of all outstanding shares of Rebecca Taylor, Inc., which held the Rebecca Taylor business prior to the wind-down, to Nova Acquisitions, LLC. Nova Acquisitions, LLC is wholly owned by James Carroll, who served as the sole director and officer of Rebecca Taylor, Inc. at the time of the Transaction, pursuant to a service agreement between Mr. Carroll and Rebecca Taylor, Inc. that was previously entered into in September 2022 in connection with the wind-down. While serving as the sole director and officer of Rebecca Taylor, Inc., Mr. Carroll did not serve as an agent to the Company and was not a related party to the Company. Following the completion of the Transaction, there exists no relationship or arrangement whatsoever between Mr. Carroll and the Company or any of its affiliates. The Transaction was completed pursuant to the SPA, dated May 3, 2024, entered into between the Seller and Nova Acquisitions, LLC. The SPA contains customary representations, warranties and covenants for a transaction of this nature, but does not include any indemnification provisions for the benefit of either party. Following the completion of the Transaction, there is no ongoing involvement between the Company and Rebecca Taylor, Inc. As Rebecca Taylor Inc. was in a net liability position, as a result of the Transaction the Company recognized a gain on sale of subsidiary of $7,634, which is presented in the Consolidated Statements of Operations and Comprehensive Income (Loss) for the three months ended May 4, 2024. Sale of Vince Intellectual Property On April 21, 2023 the Company entered into the Asset Purchase Agreement (defined below), pursuant to which V Opco agreed to sell and transfer to ABG-Vince LLC (f/k/a ABG-Viking, LLC) ("ABG Vince"), an indirect subsidiary of Authentic, all intellectual property assets related to the business operated under the Vince brand in exchange for total consideration of $76,500 in cash and a 25% membership interest in ABG Vince (the "Asset Sale"). The Asset Sale was consummated in accordance with the terms of the Asset Purchase Agreement on May 25, 2023 (the "Closing Date"). Through the agreement, Authentic owns the majority stake of 75% membership interest in ABG Vince. Operating Agreement On May 25, 2023, in connection with the closing (the "Closing") of the Asset Sale pursuant to the Intellectual Property Asset Purchase Agreement (the "Asset Purchase Agreement"), dated as of April 21, 2023, by and among V Opco, ABG Vince, the Company and ABG Intermediate Holdings 2 LLC, V Opco and ABG Vince entered into an Amended and Restated Limited Liability Company Agreement of ABG-Vince, LLC (the "Operating Agreement"), which, among other things, provides for the management of the business and the affairs of ABG Vince, the allocation of profits and losses, the distribution of cash of ABG Vince among its members and the rights, obligations and interests of the members to each other and to V Opco. The Company accounts for its 25% interest in ABG Vince under the equity method. In applying the equity method, the Company recorded the initial investment at cost and subsequently increases or decreases the carrying amount of the investment by the Company's proportionate share of net income or loss. Distributions received from ABG Vince are recognized as a reduction of the carrying amount of the investment. The Company's proportionate share of ABG Vince's net income or loss is recorded within Equity in net income (loss) of equity method investment on the Condensed Consolidated Statements of Operations and Comprehensive Income (Loss). The carrying value for the Company's investment in ABG Vince is recorded within Equity method investment on the Condensed Consolidated Balance Sheets. The Company records its share of net income or loss using a one-month lag. This convention does not materially impact the Company's results. The Company reviews its investment in ABG Vince for impairment when events or changes in circumstances indicate that an other-than-temporary decline in value may have occurred. If the carrying value of the investment exceeds its fair value and the loss in value is other than temporary, the investment is considered impaired and reduced to fair value, and the impairment is recognized in the period identified. Factors providing evidence of such a loss include changes in ABG Vince's operations or financial condition, significant continuing losses, and significant negative economic conditions, among others. During the three months ended May 3, 2025 and the fiscal year 2024, there was no impairment of the investment in ABG Vince. License Agreement On May 25, 2023, in connection with the Closing, V Opco and ABG Vince entered into a License Agreement (the "License Agreement"), which provides V Opco with a license to use the Licensed Property in the Territory, which is defined as the United States, Canada, Andorra, Austria, Germany, Switzerland, Belgium, Netherlands, Luxembourg, France, Monaco, Liechtenstein, Italy, San Marino, Vatican City, Iceland, Norway, Denmark, Sweden, Finland, Spain, Portugal, Greece, Republic of Cyprus (excluding Northern Cyprus), United Kingdom, Ireland, Australia, New Zealand, Mainland China, Hong Kong, Macau, Taiwan, Singapore, Japan and Korea (the "Core Territory"), together with all other territories (the "Option Territory"), to the Approved Accounts (each as defined in the License Agreement). V Opco is required to operate and maintain a minimum of 45 Retail Stores and Shop-in-Shops in the Territory. The Option Territory may be changed unilaterally by ABG Vince at any time after the effective date of the License Agreement. Additionally, the License Agreement provides V Opco with a license to use the Licensed Property to design, manufacture, promote, market, distribute, and sell ready-to-wear Sportswear Products and Outerwear Products (the "Core Products") and Home Décor and Baby Layettes (the "Option Products," together with the Core Products, the "Licensed Products"), which Option Products may be changed unilaterally by ABG Vince at any time after the effective date of the License Agreement. The initial term of the License Agreement began on May 25, 2023, the date on which the Closing actually occurred, and ends at the end of the Company's 2032 fiscal year, unless sooner terminated pursuant to the terms of the License Agreement. V Opco has the option to renew the License Agreement on the terms set forth in the License Agreement for eight consecutive periods of ten years each, unless the License Agreement is sooner terminated pursuant to its terms or V Opco is in material breach of the License Agreement and such breach has not been cured within the specified cure period. V Opco may elect not to renew the term for a renewal term. V Opco is required to pay ABG Vince a royalty on net sales of Licensed Products and committed to an annual guaranteed minimum royalty of $11,000 and annual minimum net sales as specified in the License Agreement, in each case, during the initial term of the License Agreement, except that the guaranteed minimum royalty and minimum net sales for the first contract year during the initial term was prorated to the period beginning on the Closing Date and ended at the end of the Company's 2023 fiscal year. The annual guaranteed minimum royalty and annual minimum net sales for each subsequent renewal term is equal to the greater of (i) a percentage as set forth in the License Agreement of the guaranteed minimum net royalty or the minimum net sales (as applicable) of the immediately preceding contract year, and (ii) the average of actual Royalties (as defined in the License Agreement, with respect to the guaranteed minimum royalty) or actual Net Sales (as defined in the License Agreement, with respect to the annual minimum net sales) during certain years as set forth in the License Agreement of the preceding initial term or renewal term (as applicable). V Opco is required to pay royalties comprised of a low single digit percentage of net sales arising from retail and e-commerce sales of Licensed Products and a mid single digit percentage of net sales arising from wholesale sales of such Licensed Products. In the event that the annual guaranteed minimum royalty paid to ABG Vince in any given contract year is greater than the actual royalties earned by ABG Vince in the same contract year, the difference between the royalty actually earned and the annual guaranteed minimum royalty paid is credited for the next two contract years against any amount of royalty earned by ABG Vince in excess of the annual guaranteed minimum royalty paid during each such contract year, if any. Royalty expense is included within Cost of product sold on the Condensed Consolidated Statements of Operations and Comprehensive Income (Loss). P180 Acquisition On January 22, 2025, P180 Vince Acquisition Co. (“P180”) purchased 8,481,318 shares of common stock of the Company, which constituted approximately 67% of the Company’s outstanding common stock, from affiliates of Sun Capital in a privately negotiated stock purchase transaction (the “P180 Acquisition”) for approximately $19,800 in cash. 1,262,933 of these purchased shares were held back at the closing by the affiliates of Sun Capital and all or a portion of such shares will be transferred to P180 in the event the remaining outstanding obligations under the Sun Amended Credit Agreement are purchased by P180 (or any of its affiliates or designees) from SK Financial Services, or otherwise repaid in full, prior to September 22, 2025. P180 will forfeit its right to, and such affiliates of Sun Capital will be entitled to retain, a portion of such held back shares if such purchase or repayment occurs after January 24, 2025, and P180 will forfeit its right to all held back shares if such purchase or repayment does not occur on or prior to September 22, 2025. The affiliates of Sun Capital agreed to various voting, transfer and other restrictions on the held back shares. As of May 3, 2025, the remaining outstanding obligations under the Sun Amended Credit Agreement have not been repurchased by P180 (or any of its affiliates or designees) from SK Financial Services and therefore 631,467 of the shares held back have been forfeited by P180 as of May 3, 2025. In connection with the P180 Acquisition, on January 22, 2025, V Opco entered into the First Amendment (the “First Amendment”) to its 2023 Revolving Credit Facility or "ABL Credit Agreement", and, simultaneously with the entry into the First Amendment, entered into the Fifth Amendment (the “Third Lien Fifth Amendment”) to its Third Lien Credit Facility or "Sun Credit Agreement" and paid $15,000 to SK Financial Services, LLC with the proceeds from additional borrowings under the 2023 Revolving Credit Facility as repayment of $20,000 in outstanding principal amount of the loans outstanding under the Third Lien Credit Facility (such pay-down transaction, the “Sun Debt Paydown”). In addition, in connection with the P180 Acquisition, P180 acquired and assumed from SK Financial Services LLC approximately $7,000 of the remaining outstanding balance owed by the Company under the Third Lien Credit Facility. Immediately thereafter, P180 agreed to forgive and cancel such $7,000 (the “P180 Debt Forgiveness”) such that there remained outstanding an aggregate of approximately $7,500 under the Third Lien Credit Facility, which will continue to accrue interest in accordance with, and otherwise be subject to the terms and conditions set forth in, the Third Lien Credit Facility. In addition, pursuant to the Debt Forgiveness, P180 and its parent company, P180, Inc., agreed to reimburse the Company for its fees and expenses associated with the transactions relating to the P180 Acquisition. See Note 4 "Long Term Debt and Financing Arrangements" for additional discussion. The Company determined that the changes to the 2023 Revolving Credit Facility under the First Amendment did not result in a change to the borrowing capacity of the arrangement, and therefore $458 of costs incurred in connection with the First Amendment were deferred and will be recognized over the term of the arrangement, which is presented within Other assets on the Consolidated Balance Sheets. The Company determined that modification to the Third Lien Credit Facility under the Fifth Amendment and the corresponding Sun Debt Paydown and P180 Debt Forgiveness should be recorded as debt extinguishment of the Third Lien Credit Facility in accordance with ASC 470. The Company derecognized the old debt and recorded the new debt at fair value in the amount of $7,713, and a gain upon extinguishment in the amount of $11,575 in the fourth quarter of fiscal 2024. As Sun Capital and affiliates and P180 maintained an equity interest in the Company, the gain on extinguishment was recorded as a capital contribution within equity. SK Financial Services, LLC is an affiliate of Sun Capital Partners, Inc. (“Sun Capital”), whose affiliates owned approximately 67% of the Company’s outstanding common stock prior to the P180 Acquisition. Immediately following the P180 Acquisition, affiliates of Sun Capital own less than 10% of the Company’s outstanding common stock. |
Fair Value Measurements |
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May 03, 2025 | |||||||||||||||||||
| Fair Value Disclosures [Abstract] | |||||||||||||||||||
| Fair Value Measurements | Note 3. Fair Value Measurements We define the fair value of a financial instrument as the amount that would be received from the sale of an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. We are responsible for the determination of the value of the investments carried at fair value and the supporting methodologies and assumptions. The Company's financial assets and liabilities are to be measured using inputs from three levels of the fair value hierarchy as follows:
The Company did not have any non-financial assets or non-financial liabilities recognized at fair value on a recurring basis at May 3, 2025 or February 1, 2025. At May 3, 2025 and February 1, 2025, the Company believes that the carrying values of cash and cash equivalents, receivables, and accounts payable approximate fair value, due to the short-term maturity of these instruments. The Company's debt obligations with a carrying value of $34,749 and $19,156 as of May 3, 2025 and February 1, 2025, respectively, are at variable interest rates. Borrowings under the Company's 2023 Revolving Credit Facility are recorded at carrying value, which approximates fair value due to the frequent nature of such borrowings and repayments. The Company considers this as a Level 2 input. The carrying values of the Company's Third Lien Credit Facility as of May 3, 2025 and February 1, 2025 approximate fair value, due to the variable rates associated with this obligation. The Company considers this a Level 3 input. The Company's non-financial assets, which primarily consist of operating lease right-of-use ("ROU") assets and property and equipment, are not required to be measured at fair value on a recurring basis and are reported at their carrying values. However, on a periodic basis whenever events or changes in circumstances indicate that their carrying value may not be fully recoverable, non-financial assets are assessed for impairment and, if applicable, written down to (and recorded at) fair value. There was no impairment of non-financial assets during the three months ended May 3, 2025. The inputs used in determining the fair value of the ROU assets are the current comparable market rents for similar properties and a store discount rate. The fair value of the property and equipment is based on its estimated liquidation value. The measurement of fair value of these assets are considered Level 3 valuations as certain of these inputs are unobservable and are estimated to be those that would be used by market participants in valuing these or similar assets. |
Long-Term Debt and Financing Arrangements |
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May 03, 2025 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Debt Disclosure [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Long-Term Debt and Financing Arrangements | Note 4. Long-Term Debt and Financing Arrangements Debt obligations consisted of the following:
2023 Revolving Credit Facility On June 23, 2023, V Opco, entered into a new $85,000 senior secured revolving credit facility (the "2023 Revolving Credit Facility") pursuant to a Credit Agreement (the "2023 Revolving Credit Agreement") by and among V Opco, the guarantors named therein, Bank of America, N.A. ("BofA"), as Agent, the other lenders from time to time party thereto, and BofA Securities, Inc., as sole lead arranger and sole bookrunner. All outstanding amounts under the 2018 Revolving Credit Facility (as defined below) were repaid in full and such facility was terminated pursuant to the terms thereof as a result of all parties completing their obligations under such facility. The 2023 Revolving Credit Facility provides for a revolving line of credit of up to the lesser of (i) the Borrowing Base (as defined in the 2023 Revolving Credit Agreement) and (ii) $85,000, as well as a letter of credit sublimit of $10,000. The 2023 Revolving Credit Agreement also permits V Opco to request an increase in aggregate commitments under the 2023 Revolving Credit Facility of up to $15,000, subject to customary terms and conditions. The 2023 Revolving Credit Facility matures on the earlier of June 23, 2028, and 91 days prior to the earliest maturity date of any Material Indebtedness (as defined in the 2023 Revolving Credit Agreement), including the subordinated indebtedness pursuant to the Third Lien Credit Agreement. Interest is payable on the loans under the 2023 Revolving Credit Facility, at Vince LLC's request, either at Term SOFR, the Base Rate, or SOFR Daily Floating Rate, in each case, with applicable margins subject to a pricing grid based on an average daily excess availability calculation. The "Base Rate" means, for any day, a fluctuating rate per annum equal to the highest of (i) the Federal Funds Rate for such day, plus 0.5%; (ii) the rate of interest in effect for such day as publicly announced from time to time by BofA as its prime rate; (iii) the SOFR Daily Floating Rate on such day, plus 1.0%; and (iv) 1.0%. During the continuance of certain specified events of default, at the election of BofA in its capacity as Agent, interest will accrue at a rate of 2.0% in excess of the applicable non-default rate. The applicable margins for SOFR Term and SOFR Daily Floating Rate Loans are: (i) 2.0% when the average daily Excess Availability (as defined in the 2023 Revolving Credit Agreement) is greater than 66.7% of the Loan Cap (as defined in the 2023 Revolving Credit Agreement); (ii) 2.25% when the average daily Excess Availability is greater than or equal to 33.3% but less than or equal to 66.7% of the Loan Cap; and (iii) 2.5% when the average daily Excess Availability is less than 33.3% of the Loan Cap. The applicable margins for Base Rate Loans are: (a) 1.0% when the average daily Excess Availability is greater than 66.7% of the Loan Cap; (b) 1.25% when the average daily Excess Availability is greater than or equal to 33.3% but less than or equal to 66.7% of the Loan Cap; and (c) 1.5% when the average daily Excess Availability is less than 33.3% of the Loan Cap. In accordance with the First Amendment, from the First Amendment Effective Date (January 21, 2025) until the first Adjustment Date occurring after the twelve (12) month anniversary of the First Amendment Effective Date, the applicable margin will be 2.50% with respect to SOFR Term Loans and SOFR Daily Floating Rate Loans and 1.50% with respect to Base Rate Loans. The 2023 Revolving Credit Facility contains a financial covenant requiring Excess Availability at all times to be no less than the greater of (i) 10.0% of the Loan Cap in effect at such time and (ii) $7,500. The 2023 Revolving Credit Facility contains representations and warranties, covenants and events of default that are customary for this type of financing, including limitations on the incurrence of additional indebtedness, liens, burdensome agreements, investments, loans, asset sales, mergers, acquisitions, prepayment of certain other debt, the repurchase of capital stock, transactions with affiliates, and the ability to change the nature of its business or its fiscal year. The 2023 Revolving Credit Facility generally permits dividends in the absence of any default or event of default (including any event of default arising from a contemplated dividend), so long as (i) after giving pro forma effect to the contemplated dividend and on a pro forma basis for the 30-day period immediately preceding such dividend, Excess Availability will be at least the greater of 20.0% of the Loan Cap and $15,000 and (ii) after giving pro forma effect to the contemplated dividend, the Consolidated Fixed Charge Coverage Ratio (as defined in the 2023 Revolving Credit Agreement) for the 12 months preceding such dividend will be greater than or equal to 1.0 to 1.0. In accordance with the First Amendment, V Opco shall not make certain Restricted Payments as defined in the Agreement until the earlier of (i) the date that is eighteen (18) month anniversary of the First Amendment Effective Date, which date is July 21, 2026 and (ii) the first date following the twelve (12) month anniversary of the First Amendment Effective Date on which the Consolidated Fixed Charge Coverage Ratio is greater than or equal to 1.0 to 1.0. All obligations under the 2023 Revolving Credit Facility are guaranteed by the Company and Vince Intermediate and any future subsidiaries of the Company (other than Excluded Subsidiaries as defined in the 2023 Revolving Credit Agreement) and secured by a lien on substantially all of the assets of the Company, V Opco and Vince Intermediate and any future subsidiary guarantors, other than among others, equity interests in ABG Vince, as well as the rights of V Opco under the License Agreement. The Company incurred $0 and $8 of financing costs during the three months ended May 3, 2025 and May 4, 2024, respectively. In fiscal 2024, the Company incurred $466 (of which $458 were incurred in connection with the P180 Acquisition) of financing costs. In accordance with ASC Topic 470, "Debt", these financing costs were recorded as deferred debt issuance costs (which is presented within Other assets on the Consolidated Balance Sheets) and are amortized over the term of the 2023 Revolving Credit Facility.
As of May 3, 2025, the Company was in compliance with applicable covenants. As of May 3, 2025, $20,410 was available under the 2023 Revolving Credit Facility, net of the Loan Cap, and there were $26,763 of borrowings outstanding and $6,161 of letters of credit outstanding under the 2023 Revolving Credit Facility. The weighted average interest rate for borrowings outstanding under the 2023 Revolving Credit Facility as of May 3, 2025 was 7.0%. On January 22, 2025, V Opco, LLC entered into that certain First Amendment (the “First Amendment”) to the 2023 Revolving Credit Agreement. The First Amendment amends the 2023 Revolving Credit Agreement to, among other things, (a) consent to the P180 Acquisition (see Note 2 "Recent Transactions" for additional information); (b) provide that, until the first Adjustment Date following January 22, 2026, the applicable margin will be 2.50% with respect to SOFR Term Loans and SOFR Daily Floating Rate Loans and 1.50% with respect to Base Rate Loans; (c) eliminate the ability to make certain Restricted Payments until the earlier of (i) the date that is eighteen (18) month anniversary of the First Amendment Effective Date, which date is July 21, 2026 and (ii) the first date following the twelve (12) month anniversary of the First Amendment Effective Date on which the Consolidated Fixed Charge Coverage Ratio is greater than or equal to 1.0 to 1.0; and (d) until January 22, 2026, modify the thresholds applicable for the Agent’s rights to conduct field exams and inventory appraisals to Excess Availability being less than the greater of 25% of Loan Cap and $18,750 and, following January 24, 2026, such thresholds shall revert back to Excess Availability being less than the greater of 20% of Loan Cap and $15,000. Third Lien Credit Facility On December 11, 2020, V Opco entered into a $20,000 subordinated term loan credit facility (the "Third Lien Credit Facility") pursuant to a credit agreement (the "Third Lien Credit Agreement"), as amended from time to time, dated December 11, 2020, by and among V Opco, as the borrower, VHC and Vince Intermediate, as guarantors, and SK Financial Services, LLC ("SK Financial"), as administrative agent and collateral agent, and other lenders from time to time party thereto. The proceeds were received on December 11, 2020 and were used to repay a portion of the borrowings outstanding under the 2018 Revolving Credit Facility. SK Financial is an affiliate of Sun Capital Partners, Inc. ("Sun Capital"). The Third Lien Credit Facility was reviewed and approved by the Special Committee of the Company's Board of Directors, consisting solely of directors not affiliated with Sun Capital, which committee was represented by independent legal advisors. Immediately prior to the P180 Acquisition, the affiliates of Sun Capital owned approximately 67% of the Company's common stock. Interest on loans under the Third Lien Credit Facility is payable in kind at a rate revised in connection with the Third Lien Third Amendment (as defined and discussed below) to be equal to the Daily Simple SOFR, subject to a credit spread adjustment of 0.10% per annum, plus 9.0%. During the continuance of certain specified events of default, interest may accrue on the loans under the Third Lien Credit Facility at a rate of 2.0% in otherwise applicable to such amount. The Company had incurred $485 in deferred financing costs associated with the Third Lien Credit Facility, of which a $400 closing fee is payable in kind and was added to the principal balance. These deferred financing costs were recorded as deferred debt issuance costs. In connection with the debt extinguishment (see below), unamortized debt issuance costs of $179 were included in the calculation of the gain on extinguishment. All obligations under the Third Lien Credit Facility are guaranteed by the Company, Vince Intermediate and the Company's existing material domestic restricted subsidiaries as well as any future material domestic restricted subsidiaries and are secured on a junior basis relative to the 2023 Revolving Credit Facility by a lien on substantially all of the assets of the Company, Vince Intermediate, V Opco and the Company's existing material domestic restricted subsidiaries as well as any future material domestic restricted subsidiaries. On April 21, 2023, V Opco entered into that certain Consent and Third Amendment to Credit Agreement (the "Third Lien Third Amendment"), which, among other things, (a) permitted the sale of the intellectual property of the Vince Business contemplated in the Asset Sale, (b) replaced LIBOR as an interest rate benchmark in favor of Daily Simple SOFR, subject to a credit spread adjustment of 0.10% per annum, plus 9.0% (c) amended the Third Lien Credit Agreement's maturity date to the earlier of (i) March 30, 2025 and (ii) 180 days after the maturity date under the 2018 Revolving Credit Facility, (d) reduced the capacity to incur indebtedness and liens, make investments, restricted payments and dispositions and repay certain indebtedness and (e) modified certain representations and warranties, covenants and events of default in respect of documentation related to the Asset Sale. The Third Lien Third Amendment became effective upon the consummation of the Asset Sale, the prepayment of the Term Loan Credit Facility in full and other transactions contemplated by the Asset Purchase Agreement. On June 23, 2023, V Opco entered into the Fourth Amendment (the "Third Lien Fourth Amendment") to the Third Lien Credit Agreement which, among other things, (a) extended the Third Lien Credit Agreement's maturity date to the earlier of (i) September 30, 2028 and (ii) 91 days prior to the earliest maturity date of any Material Indebtedness (as defined therein) other than the 2023 Revolving Credit Facility and (b) modified certain representations and warranties, covenants and events of default in respect of documentation conforming to the terms of the 2023 Revolving Credit Facility. On January 22, 2025, V Opco entered into the Fifth Amendment (the “Third Lien Fifth Amendment”) to the Third Lien Credit Agreement which, among other things, consented to the P180 Acquisition. On the same day, V Opco paid $15,000 to SK Financial Services, LLC using proceeds from the 2023 Revolving Credit Facility, which resulted in a pay-down of $20,000 of the Third Lien Credit Facility (the “Sun Debt Paydown”). In addition, in connection with the P180 Acquisition, P180 acquired and assumed $7,000 of the Third Lien Credit Facility outstanding and immediately thereafter cancelled such $7,000 (the “P180 Debt Forgiveness”). Following the Sun Debt Paydown and P180 Debt Forgiveness, the outstanding principal amount of the Third Lien Credit Facility was reduced by approximately $27,000 with $7,500 remaining outstanding, which will continue to accrue payment-in-kind interest in accordance with, and otherwise be subject to, the terms and conditions therein. The Company determined that modification to the Third Lien Credit Facility under the Fifth Amendment and the corresponding Sun Debt Paydown and P180 Debt Forgiveness should be recorded as debt extinguishment of the Third Lien Credit Facility in accordance with ASC 470. In the fourth quarter of fiscal 2024, the Company derecognized the old debt and recorded the new debt at fair value in the amount of $7,713, and a gain upon extinguishment in the amount of $11,575. As Sun Capital and affiliates and P180 maintained an equity interest in the Company, the gain on extinguishment was recorded as a capital contribution within equity. |
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Inventory |
3 Months Ended |
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May 03, 2025 | |
| Inventory Disclosure [Abstract] | |
| Inventory | Note 5. Inventory Inventories consisted of finished goods. As of May 3, 2025 and February 1, 2025, finished goods, net of reserves were $62,260 and $59,146, respectively. |
Share-Based Compensation |
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| Share-Based Payment Arrangement [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Share-Based Compensation | Note 6. Share-Based Compensation Employee Stock Plans Vince 2013 Incentive Plan In connection with the IPO, the Company adopted the Vince 2013 Incentive Plan, which provides for grants of stock options, stock appreciation rights, restricted stock and other stock-based awards. In May 2018, the Company filed a Registration Statement on Form S-8 to register an additional 660,000 shares of common stock available for issuance under the Vince 2013 Incentive Plan. Additionally, in September 2020, the Company filed a Registration Statement on Form S-8 to register an additional 1,000,000 shares of common stock available for issuance under the Vince 2013 Incentive Plan. The aggregate number of shares of common stock which may be issued or used for reference purposes under the Vince 2013 Incentive Plan or with respect to which awards may be granted may not exceed 2,000,000 shares. The shares available for issuance under the Vince 2013 Incentive Plan may be, in whole or in part, either authorized and unissued shares of the Company's common stock or shares of common stock held in or acquired for the Company's treasury. In general, if awards under the Vince 2013 Incentive Plan are canceled for any reason, or expire or terminate unexercised, the shares covered by such award may again be available for the grant of awards under the Vince 2013 Incentive Plan. As of May 3, 2025, there were 630,312 shares under the Vince 2013 Incentive Plan available for future grants. Options granted pursuant to the Vince 2013 Incentive Plan typically vest in equal installments over four years, subject to the employees' continued employment and expire on the earlier of the of the grant date or upon termination as outlined in the Vince 2013 Incentive Plan. Restricted stock units ("RSUs") granted typically vest in equal installments over a three-year period or vest in equal installments over four years, subject to the employees' continued employment. In November 2023, the Vince 2013 Incentive Plan was amended to, among others, extend the plan expiration date to November 2033. Stock Options There were no stock options outstanding, vested or exercisable as of May 3, 2025 and February 1, 2025, respectively. During the three months ended May 3, 2025 and fiscal 2024, respectively, there were no grants, expirations or forfeitures, or exercises of stock options. Restricted Stock Units A summary of restricted stock unit activity for the three months ended May 3, 2025 is as follows:
Share-Based Compensation Expense The Company recognized share-based compensation expense of $146 and $(5), including expense of $87 and $74 related to non-employees, during the three months ended May 3, 2025 and May 4, 2024, respectively. |
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Stockholders' Equity |
3 Months Ended |
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May 03, 2025 | |
| Equity [Abstract] | |
| Stockholders' Equity | Note 7. Stockholders' Equity At-the-Market Offering On June 30, 2023, the Company entered into a Sales Agreement (the “Virtu Sales Agreement”) with Virtu Americas LLC ("Virtu"), as sales agent and/or principal (the "Virtu At-the-Market Offering") under which the Company was able to sell from time to time through Virtu shares of the Company's common stock, par value $0.01 per share, having an offering price of up to $7,825, and any shares were to be issued pursuant to the Company's previously filed shelf registration statement on Form S-3, which was declared effective on September 21, 2021 (the “2021 S-3 Registration Statement”). Under the 2021 S-3 Registration Statement, the Company was able to offer and sell up to 3,000,000 shares of common stock from time to time in one or more offerings at prices and terms to be determined at the time of the sale. Following the expiration of the 2021 S-3 Registration Statement, on September 23, 2024, the Company filed a replacement shelf registration statement on Form S-3, which was declared effective on October 3, 2024 (the "2024 S-3 Registration Statement"). Under the 2024 S-3 Registration Statement, the Company may offer and sell up to $10 million of shares of common stock from time to time in one or more offerings at prices and terms to be determined at the time of the sale. The 2024 S-3 Registration Statement also included a prospectus supplement, whereby the Company may offer and sell from time to time under the Virtu Sales Agreement shares of the Company’s common stock, par value $0.01 per share, having an aggregate offering price of up to $2,925. During the three months ended May 3, 2025, the Company did not make any offerings or sales of shares of common stock under the Virtu At-the-Market Offering. At May 3, 2025, $2,925 was available under the Virtu At-the-Market Offering. |
(Loss) Earnings Per Share |
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| (Loss) Earnings Per Share | Note 8. (Loss) Earnings Per Share Basic (loss) earnings per share is calculated by dividing net (loss) income by the weighted average number of shares of common stock outstanding during the period. Except when the effect would be anti-dilutive, diluted earnings per share is calculated based on the weighted average number of shares of common stock outstanding plus the dilutive effect of share-based awards calculated under the treasury stock method. In periods when the Company incurs a net loss, share-based awards are excluded from the calculation of earnings per share as their inclusion would have an anti-dilutive effect. The following is a reconciliation of weighted average basic shares to weighted average diluted shares outstanding:
Because the Company incurred a net loss for the three months ended May 3, 2025, weighted-average basic shares and weighted-average diluted shares outstanding are equal for this period. For the three months ended May 4, 2024, 233,125 of weighted average shares were excluded from the computation of weighted average shares for diluted earnings per share, as their effect would have been anti-dilutive. |
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Commitments and Contingencies |
3 Months Ended |
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May 03, 2025 | |
| Commitments and Contingencies Disclosure [Abstract] | |
| Commitments and Contingencies | Note 9. Commitments and Contingencies Litigation The Company is a party to legal proceedings, compliance matters, environmental, as well as wage and hour and other labor claims that arise in the ordinary course of business. Although the outcome of such items cannot be determined with certainty, management believes that the ultimate outcome of these items, individually and in the aggregate, will not have a material adverse impact on the Company's financial position, results of operations or cash flows. |
Income Taxes |
3 Months Ended |
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May 03, 2025 | |
| Income Tax Disclosure [Abstract] | |
| Income Taxes | Note 10. Income Taxes The Company provides for income taxes at the end of each interim period based on the estimated effective tax rate for the full fiscal year. In interim periods where the Company is experiencing losses, the Company must make assumptions concerning its future taxable income and determine whether the realization of future tax benefits is more likely than not. For the three months ended May 3, 2025, the Company has year-to-date ordinary pre-tax losses for the interim period and is anticipating annual ordinary pre-tax income for the fiscal year. The Company has determined that it is more likely than not that the tax benefit of the year-to-date ordinary pre-tax loss will not be realized in the current or future years. As such, the Company did not record any tax expense for the three months ended May 3, 2025, as tax provisions for interim periods should not be recognized until the Company has year-to-date ordinary pre-tax income. The benefit for income taxes of $887 for the three months ended May 4, 2024 was primarily driven by $1,681 of discrete tax benefit primarily recognized from the reversal of a portion of the non-cash deferred tax liability related to the Company's equity method investment, which a portion can now be used as a source of income to support the realization of certain deferred tax assets related to the Company's net operating losses. This was partially offset by tax expense of $794 due to the impact of applying the Company’s estimated effective tax rate for the fiscal year to the three-month pre-tax loss excluding discrete items. Each reporting period, the Company evaluates the realizability of its deferred tax assets and has maintained a full valuation allowance against its deferred tax assets. These valuation allowances will be maintained until there is sufficient positive evidence to conclude that it is more likely than not that these deferred tax assets will be realized. |
Leases |
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| Leases | Note 11. Leases The Company determines if a contract contains a lease at inception. 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 certain recent leases are subject to shorter terms as a result of the implementation of the strategy to pursue shorter lease terms when evaluating certain markets. The Company will not include renewal options in the underlying lease term unless the Company is reasonably certain to exercise the renewal option. Substantially all of the Company's leases require a fixed annual rent, and most require the payment of additional rent if store sales exceed a negotiated amount. These percentage rent expenses are considered as variable lease costs and are recognized in the consolidated financial statements when incurred. In addition, the Company's real estate leases may also require additional payments for real estate taxes and other occupancy-related costs which it considers as non-lease components. ROU assets and operating lease liabilities are recognized based upon the present value of the future lease payments over the lease term. As the Company's leases do not provide an implicit borrowing rate, the Company uses an estimated incremental borrowing rate based upon a combination of market-based factors, such as market quoted forward yield curves and company specific factors, such as the Company's credit rating, lease size and duration to calculate the present value. Total lease cost is included in SG&A expense in the accompanying Condensed Consolidated Statements of Operations and Comprehensive Income (Loss) and is recorded net of sublease income. Some leases have a non-cancelable lease term of less than one year and therefore, the Company has elected to exclude these short-term leases from its ROU asset and lease liabilities. Short term lease costs were immaterial for the three months ended May 3, 2025 and May 4, 2024. The Company's lease cost is comprised of the following:
As of May 3, 2025, the future maturity of lease liabilities are as follows:
In fiscal 2024, the Company entered into a sublease with a third party for the 18th Floor of the Company’s corporate offices in New York, NY, for a period of three years with no option to renew. In accordance with ASC Topic 842, the Company treated the sublease as a separate lease, as the Company was not relieved of the primary obligation under the original lease. The Company continues to account for the corporate office lease as a lessee and in the same manner as prior to the commencement date of the sublease. The Company accounted for the sublease as a lessor of the lease. The sublease was classified as an operating lease, as it did not meet the criteria of a sales-type or direct financing lease. As of May 3, 2025, future minimum tenant operating lease payments remaining under this sublease were approximately $2,200, with a remaining sublease term of 2.4 years. The operating lease payments do not include any renewal options as such leases are not reasonably certain of being renewed as of May 3, 2025, and do not include $5,909 of legally binding minimum lease payments for leases signed but not yet commenced. |
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Segment Financial Information |
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| Segment Reporting [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Segment Financial Information | Note 12. Segment Financial Information The Company has identified two reportable segments based on the information used by its chief operating decision maker (“CODM”). The CODM has been identified as the . Management considered both similar and dissimilar economic characteristics, internal reporting and management structures, as well as products, customers, and supply chain logistics to identify the following reportable segments: • Vince Wholesale segment—consists of the Company's operations to distribute Vince brand products to major department stores and specialty stores in the United States and select international markets; • Vince Direct-to-consumer segment—consists of the Company's operations to distribute Vince brand products directly to the consumer through its Vince branded full-price specialty retail stores, outlet stores, and e-commerce platform. During fiscal 2024, as a result of the completion of the wind down and sale (see Note 2 "Recent Transactions"), and the determination by the CODM that Parker would not be considered in the Company’s future operating plans, Rebecca Taylor and Parker was no longer determined to be an operating segment of the Company. The financial results of the historical Rebecca Taylor and Parker reportable segment are included as an other reconciling item in the table below. The accounting policies of the Company's reportable segments are consistent with those described in Note 1 to the audited consolidated financial statements for the fiscal year ended February 1, 2025 included in the 2024 Annual Report on Form 10-K. The Company’s CODM evaluates segment performance based on several factors, including Income before income taxes and equity in net income of equity method investment. The CODM uses Income before income taxes and equity in net income of equity method investment as the key performance measure of segment profitability because it excludes the impact of certain items that our CODM believes do not directly reflect our underlying operations, including the impact of income taxes and equity in net income of equity method investment. The CODM also considers budget-to-actual and period-over-period variances for this performance measure when making decisions about the allocation of operating and capital resources to each segment. Unallocated corporate expenses are comprised of SG&A expenses attributable to corporate and administrative activities (such as marketing, design, finance, information technology, legal and human resource departments), and other charges, including interest expense, that are not directly attributable to the Company's Vince Wholesale and Vince Direct-to-consumer reportable segments. Unallocated corporate assets are comprised of the carrying values of the Company's equity method investment and other assets that will be utilized to generate revenue for the Company's Vince Wholesale and Vince Direct-to-consumer reportable segments. Summary information for the Company's reportable segments is presented below.
(1) Other segment items primarily include various third party expenses, banking fees, depreciation and amortization, supplies, and commissions. (2) Activity for the Rebecca Taylor and Parker reconciling item for the three months ended May 4, 2024 primarily consists of the gain recognized on the sale of Rebecca Taylor. See Note 2 "Recent Transactions" for further information. * Cost of Products Sold for the three months ended May 3, 2025 includes royalty expenses of $1,762 and $820 for the Wholesale and Direct-to-consumer segments, respectively. Cost of Products Sold for the three months ended May 4, 2024 includes royalty expenses of $1,811 and $877 for the Wholesale and Direct-to-consumer segments, respectively. |
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Related Party Transactions |
3 Months Ended |
|---|---|
May 03, 2025 | |
| Related Party Transactions [Abstract] | |
| Related Party Transactions | Note 13. Related Party Transactions Operating Agreement On May 25, 2023, V Opco, LLC and ABG Vince entered into the Operating Agreement, which, among other things, provides for the management of the business and the affairs of ABG Vince, the allocation of profits and losses, the distribution of cash of ABG Vince among its members and the rights, obligations and interests of the members to each other and to V Opco. See Note 2 "Recent Transactions" for further information. During the three months ended May 3, 2025, and May 4, 2024, the Company received distributions of cash of $1,776 and $607 respectively, under the Operating Agreement. License Agreement On May 25, 2023, V Opco and ABG Vince entered into the License Agreement, whereby V Opco is required to pay ABG Vince a royalty on net sales of Licensed Products and committed to an annual guaranteed minimum royalty of $11,000. See Note 2 "Recent Transactions" for further information. During the three months ended May 3, 2025 and May 4, 2024, the Company paid $7,913 and $4,761, respectively, under the License Agreement. As of May 3, 2025, $1,818 of prepaid royalty expense was included within Prepaid expenses and other current assets on the Condensed Consolidated Balance Sheets. As of February 1, 2025, $3,513 of accrued royalty expense was included within Other accrued expenses on the Condensed Consolidated Balance Sheets. P180 Expense Reimbursement In connection with the P180 Acquisition, P180 agreed to reimburse the Company for certain fees and expenses incurred in connection with such transactions, including the Company’s legal fees as well as the consent fee to BofA. As of May 3, 2025, the Company had recorded approximately $599 of outstanding reimbursements with P180, which are included in Trade receivables. CaaStle Platform Services On September 7, 2018, V Opco and CaaStle Inc. (“CaaStle”) entered into a platform services agreement, whereby CaaStle provided logistical services for the Company's Vince Unfold clothing rental service. The agreement was amended on November 1, 2024. Prior to the P180 Acquisition, CaaStle was an unrelated party to the Company. Due to CaaStle’s relationship with P180, as a result of the P180 Acquisition, CaaStle was considered a related party to the Company as of February 1, 2025. Subsequently, due to organizational changes at CaaStle and P180, CaaStle is no longer considered a related party to the Company. During the three months ended May 3, 2025, the Company recognized $149 of net sales, $230 of cost of products sold and $195 of SG&A expenses from the arrangement. During the three months ended May 4, 2024, the Company recognized $401 of net sales, $12 of cost of products sold and $136 of SG&A expenses from the arrangement. As of May 3, 2025 and February 1, 2025, $0 and $24 of outstanding amounts due from CaaStle were included in Trade receivables on the Consolidated Balance Sheets. On April 24, 2025, the Company terminated the Vince Unfold program and the platform services agreement in its entirety. Third Lien Credit Agreement On December 11, 2020, V Opco entered into the $20,000 Third Lien Credit Facility pursuant to the Third Lien Credit Agreement, by and among V Opco, as the borrower, SK Financial, as agent and lender, and other lenders from time-to-time party thereto. The Third Lien Credit Facility was reviewed and approved by the Special Committee of the Company's Board of Directors, consisting solely of directors not affiliated with Sun Capital, which committee was represented by independent legal advisors. SK Financial is an affiliate of Sun Capital, whose affiliates, prior to the P180 Acquisition, owned approximately 67% of the Company's common stock. Subsequent to the P180 Acquisition, SK Financial is no longer a related party. See Note 2 "Recent Transactions" and Note 4 "Long-Term Debt and Financing Arrangements" for additional information. Sun Capital Consulting Agreement On November 27, 2013, the Company entered into an agreement with Sun Capital Management to (i) reimburse Sun Capital Management Corp. ("Sun Capital Management") or any of its affiliates providing consulting services under the agreement for out-of-pocket expenses incurred in providing consulting services to the Company and (ii) provide Sun Capital Management with customary indemnification for any such services. During the three months ended May 3, 2025 and May 4, 2024, the Company incurred expenses of $0 and $9, respectively, under the Sun Capital Consulting Agreement. Subsequent to the P180 Acquisition, Sun Capital is no longer a related party and the agreement is no longer operative per the terms thereof. See Note 2 "Recent Transactions" for additional information. Indemnification Agreements The Company has entered into indemnification agreements with each of its executive officers and directors. The indemnification agreements provide the executive officers and directors with contractual rights to indemnification, expense advancement and reimbursement, to the fullest extent permitted under the Delaware General Corporation Law. Amended and Restated Certificate of Incorporation The Company’s amended and restated certificate of incorporation provides that for so long as affiliates of Sun Capital own 30% or more of the Company’s outstanding shares of common stock, Sun Cardinal, a Sun Capital affiliate, has the right to designate a majority of the Company’s Board of Directors. For so long as Sun Cardinal has the right to designate a majority of the Company’s Board of Directors, the directors designated by Sun Cardinal are expected to constitute a majority of each committee of the Company’s Board of Directors (other than the Audit Committee), and the chairperson of each of the committees (other than the Audit Committee) is expected to be a director serving on the committee who is selected by affiliates of Sun Capital, provided that, at such time as the Company is not a “controlled company” under the NYSE corporate governance standards, the Company’s committee membership will comply with all applicable requirements of those standards and a majority of the Company’s Board of Directors will be “independent directors,” as defined under the rules of the NYSE, subject to any applicable phase in requirements. Second and Third Amended and Restated Bylaws On January 22, 2025, the Board approved an amendment and restatement of the Company’s bylaws (the “Second Amended and Restated Bylaws”) to provide P180, following the P180 Acquisition, with the right to designate (i) a majority of the directors of the Board, (ii) the Chairman of the Board, and (iii) the chairman of each committee of the Board, in each case for so long as P180 continues to beneficially own at least thirty percent (30%) of the Company’s outstanding common stock. Subsequently, on April 4, 2025, the Board approved an amendment and restatement of the Second Amended and Restated Bylaws to remove such rights granted to P180 under the Second Amended and Restated Bylaws. |
Subsequent Event |
3 Months Ended |
|---|---|
May 03, 2025 | |
| Subsequent Events [Abstract] | |
| Subsequent Event | Note 14. Subsequent Event
During the second quarter of fiscal 2025, the Company recognized payroll subsidies of $3,580 for the Employee Retention Credit (“ERC”) under the Coronavirus Aid, Relief, and Economic Security Act ("CARES Act"). The Company had accounted for the ERC as a gain contingency, whereby the ERC was recognized only after the contingency was resolved and deemed realizable. |
Description of Business and Basis of Presentation (Policies) |
3 Months Ended |
|---|---|
May 03, 2025 | |
| Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
| Description of Business | (A) Description of Business: 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. 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 contributed its intellectual property to a newly formed Authentic subsidiary ("ABG Vince") for cash consideration and a membership interest in ABG Vince. The Company closed the Asset Sale (as defined below) on May 25, 2023. On May 25, 2023, in connection with the Authentic Transaction, V Opco, LLC (formerly, Vince, LLC) ("V Opco"), a wholly-owned subsidiary of the Company, entered into a License Agreement (the "License Agreement") with ABG-Vince LLC, which provides V Opco 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 2 "Recent Transactions" for additional information. 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. 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. On May 3, 2024, V Opco completed the sale of all outstanding shares of Rebecca Taylor, Inc., which held the Rebecca Taylor business prior to the wind down, to Nova Acquisitions, LLC. See Note 2 "Recent Transactions" for further information. 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. On January 22, 2025, P180, a venture focused on accelerating growth and profitability in the luxury apparel sector, acquired a majority stake in the Company (the “P180 Acquisition”) from affiliates of Sun Capital Partners, Inc. (collectively, “Sun Capital”). Simultaneously with the P180 Acquisition, V Opco amended its existing credit agreement with Bank of America, N.A. (“BofA”). The amendment consented to, among other things, the change in control in connection with the P180 Acquisition, as well as a partial pay down of the subordinated debt with SK Financial Services, LLC, an affiliate of Sun Capital, through increased borrowings under the credit agreement with BofA. On the same day, V Opco paid $15,000 to SK Financial Services, LLC using proceeds from the credit facility, which resulted in a pay-down of $20,000 of the subordinated debt (the “Sun Debt Paydown”). In addition, in connection with the P180 Acquisition, P180 acquired and assumed $7,000 of the loans outstanding pursuant to the subordinated debt and immediately thereafter cancelled such $7,000 (the “P180 Debt Forgiveness”). Following the Sun Debt Paydown and P180 Debt Forgiveness, the outstanding principal amount of subordinated debt was reduced by approximately $27,000 with $7,500 remaining outstanding, which will continue to accrue payment-in-kind interest in accordance with, and otherwise be subject to, the terms and conditions therein. See Note 2 "Recent Transactions" for additional information. 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. |
| Basis of Presentation | (B) Basis of Presentation: The accompanying condensed consolidated financial statements have been prepared in conformity with U.S. generally accepted accounting principles ("GAAP") and the rules and regulations of the U.S. Securities and Exchange Commission (the "SEC"). Certain information and footnote disclosures normally included in financial statements prepared in accordance with GAAP have been condensed or omitted. Therefore, these financial statements should be read in conjunction with VHC's audited financial statements for the fiscal year ended February 1, 2025, as set forth in the 2024 Annual Report on Form 10-K. The condensed consolidated financial statements include the Company's accounts and the accounts of the Company's wholly-owned subsidiaries as of May 3, 2025. All intercompany accounts and transactions have been eliminated in consolidation. In the opinion of management, the accompanying unaudited condensed consolidated financial statements contain all adjustments (consisting solely of normal recurring adjustments) and disclosures necessary for a fair statement of the results for the interim periods presented. The results of operations for these periods are not necessarily comparable to, or indicative of, results of any other interim period or the fiscal year as a whole. |
| Use of Estimates | (C) Use of Estimates: 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 necessary 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 condensed consolidated financial statements. |
| Sources and Uses of Liquidity | (D) Sources and Uses of Liquidity: The Company's sources of liquidity are cash and cash equivalents, cash flows from operations, if any, borrowings available under the 2023 Revolving Credit Facility (as defined in Note 4 "Long-Term Debt and Financing Arrangements") and the Company's ability to access the capital markets, including the Sales Agreement entered into with Virtu Americas LLC in June 2023 (see Note 7 "Stockholders' Equity" for further information). The Company's primary cash needs are funding working capital requirements, including royalty payments under the License Agreement, meeting debt service requirements and capital expenditures for new stores and related leasehold improvements. The most significant components of the Company's working capital are cash and cash equivalents, accounts receivable, inventories, accounts payable and other current liabilities. The Company’s future financial results may be subject to substantial fluctuations, and may be impacted by business conditions and macroeconomic factors, particularly in light of the recently implemented tariffs. While we expect to meet our monthly Excess Availability (as defined in the 2023 Revolving Credit Facility Agreement) covenant and believe that our other sources of liquidity will generate sufficient cash flows to meet our obligations for the next twelve months from the date these financial statements are issued, the foregoing expectation is dependent on a number of factors, including, among others, our ability to generate sufficient cash flow from a combination of tariff mitigating initiatives, our ongoing ability to manage our operating obligations, the ability of our partners to satisfy their payment obligations to us when due, the results of the currently ongoing inventory valuation and potential borrowing restrictions imposed by our lenders based on their credit judgment, all of which could be significantly and negatively impacted by the recently implemented and new retaliatory and/or reciprocal tariffs, as well as changing trade policies between the U.S. and its trading partners, in addition to other macroeconomic factors. Any material negative impact from these factors or others could require us to implement alternative plans to satisfy our liquidity needs which may be unsuccessful. In the event that we are unable to timely service our debt, meet other contractual payment obligations or fund our other liquidity needs, we may need to refinance all or a portion of our indebtedness before maturity, seek waivers of or amendments to our contractual obligations for payment, reduce or delay scheduled expansions and capital expenditures, liquidate inventory through additional discounting, sell material assets or operations, or seek other financing opportunities. There can be no assurance that these options would be readily available to us and our inability to address our liquidity needs could materially and adversely affect our operations and jeopardize our business, financial condition and results of operations. |
| Revenue Recognition | (E) Revenue Recognition: The Company recognizes revenue when performance obligations identified under the terms of contracts with its customers are satisfied, which generally occurs upon the transfer of control in accordance with the contractual terms and conditions of the sale. Sales are recognized when the control of the goods are transferred to the customer for the Company's wholesale business, upon receipt by the customer for the Company's e-commerce business, and at the time of sale to the consumer for the Company's retail business. See Note 12 "Segment Financial Information" for disaggregated revenue amounts by segment. Revenue associated with gift cards is recognized upon redemption and unredeemed balances are considered a contract liability and recorded within other accrued expenses, which are subject to escheatment within the jurisdictions in which the Company operates. As of May 3, 2025 and February 1, 2025, the contract liability was $1,484 and $1,544, respectively. For the three months ended May 3, 2025, the Company recognized $101 of revenue that was previously included in the contract liability as of February 1, 2025. |
| Recent Accounting Pronouncements | (F) Recent Accounting Pronouncements: Except as noted below, the Company has considered all recent accounting pronouncements and has concluded that there are no recent accounting pronouncements that may have a material impact on its Consolidated Financial Statements, based on current information. Recently Issued Accounting Pronouncements In December 2023, the FASB issued ASU 2023-09: Income Taxes (Topic 740): Improvements to Income Tax Disclosures, which requires expanded disclosure within the rate reconciliation as well as disaggregation of annual taxes paid. This amendment is effective for annual periods beginning after December 15, 2024, and is applied prospectively with the option for retrospective application. Early adoption is permitted. Other than the new disclosure requirements, this guidance will not have an impact on the Company’s consolidated financial statements. In November 2024, the FASB issued ASU No. 2024-03: Income Statement-Reporting Comprehensive Income-Expense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement Expenses. The ASU is intended to improve disclosures about a public business entity's expenses, primarily through additional disaggregation of income statement expenses. The FASB further clarified the effective date in January 2025 with the issuance of ASU 2025-01: Income Statement-Reporting Comprehensive Income-Expense Disaggregation Disclosures (Subtopic 220-40): Clarifying the Effective Date. The ASU is effective for fiscal years beginning after December 15, 2026, and interim periods beginning after December 15, 2027, with early adoption permitted. The requirements of the ASU will be applied prospectively with the option for retrospective application. We are currently evaluating the ASU to determine the impact on the Company's disclosures. |
Long-Term Debt and Financing Arrangements (Tables) |
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May 03, 2025 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Debt Disclosure [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Summary of Debt Obligations | Debt obligations consisted of the following:
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Share-Based Compensation (Tables) |
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| Share-Based Payment Arrangement [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Schedule of Restricted Stock Units Activity | A summary of restricted stock unit activity for the three months ended May 3, 2025 is as follows:
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(Loss) Earnings Per Share (Tables) |
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May 03, 2025 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Earnings Per Share [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Schedule of Reconciliation of Weighted Average Basic Shares to Weighted Average Diluted Shares Outstanding | The following is a reconciliation of weighted average basic shares to weighted average diluted shares outstanding:
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Leases (Tables) |
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| Leases [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Summary of Lease Cost | The Company's lease cost is comprised of the following:
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| Summary of Future Maturity of Lease Liabilities | As of May 3, 2025, the future maturity of lease liabilities are as follows:
|
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Segment Financial Information (Tables) |
3 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
May 03, 2025 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Segment Reporting [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Summary of Reportable Segments Information | Summary information for the Company's reportable segments is presented below.
(1) Other segment items primarily include various third party expenses, banking fees, depreciation and amortization, supplies, and commissions. (2) Activity for the Rebecca Taylor and Parker reconciling item for the three months ended May 4, 2024 primarily consists of the gain recognized on the sale of Rebecca Taylor. See Note 2 "Recent Transactions" for further information. * Cost of Products Sold for the three months ended May 3, 2025 includes royalty expenses of $1,762 and $820 for the Wholesale and Direct-to-consumer segments, respectively. Cost of Products Sold for the three months ended May 4, 2024 includes royalty expenses of $1,811 and $877 for the Wholesale and Direct-to-consumer segments, respectively. |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Description of Business and Basis of Presentation - Additional Information (Detail) - USD ($) $ in Thousands |
3 Months Ended | |||
|---|---|---|---|---|
Jan. 22, 2025 |
May 03, 2025 |
May 04, 2024 |
Feb. 01, 2025 |
|
| Description Of Business And Summary Of Significant Accounting Policies [Line Items] | ||||
| Proceeds from the credit facility | $ 63,500 | $ 46,400 | ||
| Principal of remaining outstanding | 34,749 | $ 19,156 | ||
| Contract liability | 1,484 | $ 1,544 | ||
| Revenue recognized included in contract liability | $ 101 | |||
| Subordinated Debt [Member] | ||||
| Description Of Business And Summary Of Significant Accounting Policies [Line Items] | ||||
| Proceeds from the credit facility | $ 15,000 | |||
| Payment for revolving credit facility | 20,000 | |||
| Subordinated debt reduced amount | 27,000 | |||
| Principal of remaining outstanding | 7,500 | |||
| P180 Vince Acquisition Co. [Member] | ||||
| Description Of Business And Summary Of Significant Accounting Policies [Line Items] | ||||
| Remaining outstanding balance owed | 7,000 | |||
| Debt forgiveness | $ 7,000 | |||
Recent Transactions - Additional Information (Detail) |
3 Months Ended | 12 Months Ended | |||||||
|---|---|---|---|---|---|---|---|---|---|
|
May 03, 2025
shares
|
Jan. 22, 2025
USD ($)
shares
|
May 25, 2023
USD ($)
Store
|
May 03, 2025
USD ($)
|
Feb. 01, 2025
USD ($)
|
May 04, 2024
USD ($)
|
Feb. 01, 2025
USD ($)
|
Jan. 21, 2025 |
Apr. 21, 2023
USD ($)
|
|
| Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | |||||||||
| Gain on sale of subsidiary | $ 7,634,000 | ||||||||
| Sun Capital [Member] | |||||||||
| Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | |||||||||
| Ownership percentage of common stock | 10.00% | 67.00% | |||||||
| ABG Vince [Member] | |||||||||
| Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | |||||||||
| Impairment of investment | $ 0 | $ 0 | |||||||
| P180 Vince Acquisition Co. [Member] | |||||||||
| Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | |||||||||
| Common stock shares held back have been forfeited | shares | 631,467 | ||||||||
| Debt forgiveness | $ 7,000,000 | ||||||||
| Financing costs incurred | 458,000 | ||||||||
| New debt instrument at fair value | $ 7,713,000 | ||||||||
| Gain upon extinguishment | $ 11,575,000 | ||||||||
| P180 Vince Acquisition Co. [Member] | Sun Capital [Member] | |||||||||
| Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | |||||||||
| Acquired shares of common stock | shares | 8,481,318 | ||||||||
| Ownership percentage of common stock | 67.00% | ||||||||
| Stock purchase transaction in cash | $ 19,800,000 | ||||||||
| Common stock shares held back at closing | shares | 1,262,933 | ||||||||
| P180 Vince Acquisition Co. [Member] | 2023 Revolving Credit Agreement [Member] | |||||||||
| Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | |||||||||
| Payment for term loan | $ 20,000,000 | ||||||||
| Proceeds from additional borrowings | 15,000,000 | ||||||||
| Repayment of borrowings | 20,000,000 | ||||||||
| Third lien debt acquired from creditors | 7,000,000 | ||||||||
| Debt forgiveness | 7,000,000 | ||||||||
| Remaining outstanding balance | $ 7,500,000 | ||||||||
| Financing costs incurred | $ 458,000 | ||||||||
| Rebecca Taylor Inc [Member] | |||||||||
| Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | |||||||||
| Gain on sale of subsidiary | $ 7,634,000 | ||||||||
| V Opco [Member] | Minimum [Member] | |||||||||
| Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | |||||||||
| Number of retail stores | Store | 45 | ||||||||
| Royalty expense | $ 11,000,000 | ||||||||
| V Opco [Member] | Authentic Transaction [Member] | |||||||||
| Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | |||||||||
| Cash consideration to be received upon closing of asset sale | $ 76,500,000 | ||||||||
| V Opco [Member] | ABG Vince [Member] | |||||||||
| Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | |||||||||
| Percentage of membership interest to be owned upon closing of asset sale | 25.00% | ||||||||
| Percentage of membership interest owned upon closing of asset sale | 25.00% | ||||||||
| Authentic Brands Group [Member] | ABG Vince [Member] | |||||||||
| Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | |||||||||
| Percentage of membership interest to be owned upon closing of asset sale | 75.00% | ||||||||
Fair Value Measurements - Additional Information (Detail) - USD ($) |
3 Months Ended | |
|---|---|---|
May 03, 2025 |
Feb. 01, 2025 |
|
| Fair Value Disclosures [Abstract] | ||
| Non-financial assets recognized at fair value | $ 0 | $ 0 |
| Non-financial liabilities recognized at fair value | 0 | 0 |
| Principal of remaining outstanding | 34,749,000 | $ 19,156,000 |
| Impairment of non-financial assets | $ 0 |
Long-Term Debt and Financing Arrangements - Summary of Debt Obligations (Detail) - USD ($) |
May 03, 2025 |
Feb. 01, 2025 |
Dec. 11, 2020 |
|---|---|---|---|
| Long-term debt: | |||
| Total debt principal | $ 34,749,000 | $ 19,156,000 | |
| Total long-term debt | 34,749,000 | 19,156,000 | |
| Revolving Credit Facilities [Member] | |||
| Long-term debt: | |||
| Total debt principal | 26,763,000 | 11,413,000 | |
| Third Lien Credit Agreement [Member] | |||
| Long-term debt: | |||
| Total debt principal | $ 7,986,000 | $ 7,743,000 | $ 20,000,000 |
Long-Term Debt and Financing Arrangements - Additional Information (Detail) $ in Thousands |
3 Months Ended | 12 Months Ended | ||||||
|---|---|---|---|---|---|---|---|---|
|
Jan. 22, 2025
USD ($)
|
Jan. 21, 2025 |
Jun. 23, 2023
USD ($)
|
May 03, 2025
USD ($)
|
May 04, 2024
USD ($)
|
Feb. 01, 2025
USD ($)
|
Jan. 25, 2026
USD ($)
|
Jan. 24, 2026
USD ($)
|
|
| 2023 Revolving Credit Facility [Member] | ||||||||
| Line Of Credit Facility [Line Items] | ||||||||
| Amount available under the Revolving Credit Facility | $ 20,410 | |||||||
| Amount outstanding under the credit facility | 26,763 | |||||||
| Letters of credit amount outstanding | $ 6,161 | |||||||
| Weighted average interest rate for borrowings outstanding | 7.00% | |||||||
| V Opco, LLC [Member] | SOFR [Member] | ||||||||
| Line Of Credit Facility [Line Items] | ||||||||
| Variable rate percentage | 1.00% | |||||||
| V Opco, LLC [Member] | Average Daily Excess Availability is Greater Than or Equal to 33.3% but Less Than or Equal to 66.7% of Loan Cap [Member] | Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate [Member] | ||||||||
| Line Of Credit Facility [Line Items] | ||||||||
| Variable rate percentage | 2.25% | |||||||
| V Opco, LLC [Member] | Average Daily Excess Availability Is Less Than 33.3% Of Loan Cap [Member] | Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate [Member] | ||||||||
| Line Of Credit Facility [Line Items] | ||||||||
| Variable rate percentage | 2.50% | |||||||
| V Opco, LLC [Member] | 2023 Revolving Credit Facility [Member] | ||||||||
| Line Of Credit Facility [Line Items] | ||||||||
| Maximum borrowing capacity | $ 85,000 | |||||||
| Letters of credit sublimit amount | 10,000 | |||||||
| Increased aggregate commitments amount | $ 15,000 | |||||||
| Variable rate percentage | 1.00% | |||||||
| Financing costs incurred | $ 0 | $ 8 | $ 466 | |||||
| Debt instrument, maturity date description | The 2023 Revolving Credit Facility matures on the earlier of June 23, 2028, and 91 days prior to the earliest maturity date of any Material Indebtedness (as defined in the 2023 Revolving Credit Agreement), including the subordinated indebtedness pursuant to the Third Lien Credit Agreement. | |||||||
| V Opco, LLC [Member] | 2023 Revolving Credit Facility [Member] | Pro Forma [Member] | ||||||||
| Line Of Credit Facility [Line Items] | ||||||||
| Proforma fixed charge coverage ratio | 1 | |||||||
| Percentage of excess availability greater than loan | 20.00% | |||||||
| Pro forma excess availability | $ 15,000 | |||||||
| V Opco, LLC [Member] | 2023 Revolving Credit Facility [Member] | Federal Funds Rate [Member] | ||||||||
| Line Of Credit Facility [Line Items] | ||||||||
| Variable rate percentage | 0.50% | |||||||
| V Opco, LLC [Member] | 2023 Revolving Credit Facility [Member] | Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate [Member] | ||||||||
| Line Of Credit Facility [Line Items] | ||||||||
| Variable rate percentage | 2.00% | |||||||
| V Opco, LLC [Member] | 2023 Revolving Credit Facility [Member] | Certain Specified Events of Default [Member] | ||||||||
| Line Of Credit Facility [Line Items] | ||||||||
| Line of credit facility percentage increase in interest rate in case of default | 2.00% | |||||||
| V Opco, LLC [Member] | 2023 Revolving Credit Facility [Member] | Financial Covenants [Member] | ||||||||
| Line Of Credit Facility [Line Items] | ||||||||
| Percentage of Loan Cap | 10.00% | |||||||
| Miminum excess availability | $ 7,500 | |||||||
| V Opco, LLC [Member] | Base Rate Loans [Member] | Average Daily Excess Availability is Greater Than or Equal to 33.3% but Less Than or Equal to 66.7% of Loan Cap [Member] | ||||||||
| Line Of Credit Facility [Line Items] | ||||||||
| Variable rate percentage | 1.25% | |||||||
| V Opco, LLC [Member] | Base Rate Loans [Member] | Average Daily Excess Availability Is Less Than 33.3% Of Loan Cap [Member] | ||||||||
| Line Of Credit Facility [Line Items] | ||||||||
| Variable rate percentage | 1.50% | |||||||
| V Opco, LLC [Member] | Base Rate Loans [Member] | Average Daily Excess Availability is Greater Than 66.7% of Loan Cap [Member] | ||||||||
| Line Of Credit Facility [Line Items] | ||||||||
| Variable rate percentage | 1.00% | |||||||
| V Opco, LLC [Member] | First Amendment to 2023 Revolving Credit Facility [Member] | Pro Forma [Member] | ||||||||
| Line Of Credit Facility [Line Items] | ||||||||
| Proforma fixed charge coverage ratio | 1 | 1 | ||||||
| V Opco, LLC [Member] | First Amendment to 2023 Revolving Credit Facility [Member] | Forecast [Member] | ||||||||
| Line Of Credit Facility [Line Items] | ||||||||
| Percentage of Loan Cap | 20.00% | 25.00% | ||||||
| Miminum excess availability | $ 15,000 | $ 18,750 | ||||||
| V Opco, LLC [Member] | First Amendment to 2023 Revolving Credit Facility [Member] | Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate [Member] | ||||||||
| Line Of Credit Facility [Line Items] | ||||||||
| Variable rate percentage | 2.50% | 2.50% | ||||||
| V Opco, LLC [Member] | First Amendment to 2023 Revolving Credit Facility [Member] | Base Rate [Member] | ||||||||
| Line Of Credit Facility [Line Items] | ||||||||
| Variable rate percentage | 1.50% | 1.50% | ||||||
| P180 Vince Acquisition Co. [Member] | ||||||||
| Line Of Credit Facility [Line Items] | ||||||||
| Financing costs incurred | $ 458 | |||||||
| P180 Vince Acquisition Co. [Member] | 2023 Revolving Credit Facility [Member] | ||||||||
| Line Of Credit Facility [Line Items] | ||||||||
| Financing costs incurred | $ 458 | |||||||
Long-Term Debt and Financing Arrangements - Additional Information 2 (Detail) - USD ($) $ in Thousands |
3 Months Ended | |||||
|---|---|---|---|---|---|---|
Jan. 22, 2025 |
Jun. 23, 2023 |
Apr. 21, 2023 |
Dec. 11, 2020 |
May 03, 2025 |
Feb. 01, 2025 |
|
| Debt Instrument [Line Items] | ||||||
| Principal of remaining outstanding | $ 34,749 | $ 19,156 | ||||
| Third Lien Credit Agreement [Member] | ||||||
| Debt Instrument [Line Items] | ||||||
| Principal of remaining outstanding | $ 20,000 | |||||
| Deferred financing costs | $ 485 | |||||
| Closing fee payable in kind | $ 400 | |||||
| Third Lien Credit Agreement [Member] | Minimum [Member] | ||||||
| Debt Instrument [Line Items] | ||||||
| Variable rate percentage | 2.00% | |||||
| Debt Instrument, Variable Interest Rate, Type [Extensible Enumeration] | Interest Rate on Overdue Principal Amount [Member] | |||||
| Third Amendment to Third Lien Credit Agreement [Member] | ||||||
| Debt Instrument [Line Items] | ||||||
| Credit spread adjustment percentage. | 0.10% | 0.10% | ||||
| Variable rate percentage | 9.00% | 9.00% | ||||
| Debt instrument, maturity date description | amended the Third Lien Credit Agreement's maturity date to the earlier of (i) March 30, 2025 and (ii) 180 days after the maturity date under the 2018 Revolving Credit Facility | |||||
| Debt instrument, maturity date | Mar. 30, 2025 | |||||
| Fourth Amendment to Third Lien Credit Agreement [Member] | ||||||
| Debt Instrument [Line Items] | ||||||
| Debt instrument, maturity date description | Fourth Amendment (the "Third Lien Fourth Amendment") to the Third Lien Credit Agreement which, among other things, (a) extended the Third Lien Credit Agreement's maturity date to the earlier of (i) September 30, 2028 and (ii) 91 days prior to the earliest maturity date of any Material Indebtedness (as defined therein) other than the 2023 Revolving Credit Facility | |||||
| Debt instrument, maturity date | Sep. 30, 2028 | |||||
| Sun Capital Partners Inc [Member] | Third Lien Credit Agreement [Member] | ||||||
| Debt Instrument [Line Items] | ||||||
| Aggregate ownership of equity securities | 67.00% | |||||
| P180 Vince Acquisition Co. [Member] | ||||||
| Debt Instrument [Line Items] | ||||||
| Remaining outstanding balance owed | $ 7,000 | |||||
| Debt forgiveness | 7,000 | |||||
| Gain upon extinguishment | $ 11,575 | |||||
| P180 Vince Acquisition Co. [Member] | Third Lien Credit Agreement [Member] | ||||||
| Debt Instrument [Line Items] | ||||||
| Unamortized debt issuance costs | $ 179 | |||||
| P180 Vince Acquisition Co. [Member] | Fifth Amendment to Third Lien Credit Agreement [Member] | ||||||
| Debt Instrument [Line Items] | ||||||
| New debt instrument at fair value | 7,713 | |||||
| Gain upon extinguishment | 11,575 | |||||
| 2023 Revolving Credit Agreement [Member] | Fifth Amendment to Third Lien Credit Agreement [Member] | ||||||
| Debt Instrument [Line Items] | ||||||
| Payment for revolving credit facility | 20,000 | |||||
| 2023 Revolving Credit Agreement [Member] | P180 Vince Acquisition Co. [Member] | ||||||
| Debt Instrument [Line Items] | ||||||
| Payment for revolving credit facility | 20,000 | |||||
| Debt forgiveness | 7,000 | |||||
| 2023 Revolving Credit Agreement [Member] | P180 Vince Acquisition Co. [Member] | Fifth Amendment to Third Lien Credit Agreement [Member] | ||||||
| Debt Instrument [Line Items] | ||||||
| Principal of remaining outstanding | 7,500 | |||||
| Remaining outstanding balance owed | 7,000 | |||||
| Debt forgiveness | 7,000 | |||||
| Subordinated debt reduced amount | 27,000 | |||||
| 2023 Revolving Credit Agreement [Member] | V Opco, LLC [Member] | ||||||
| Debt Instrument [Line Items] | ||||||
| Variable rate percentage | 1.00% | |||||
| Debt instrument, maturity date description | The 2023 Revolving Credit Facility matures on the earlier of June 23, 2028, and 91 days prior to the earliest maturity date of any Material Indebtedness (as defined in the 2023 Revolving Credit Agreement), including the subordinated indebtedness pursuant to the Third Lien Credit Agreement. | |||||
| 2023 Revolving Credit Agreement [Member] | V Opco, LLC [Member] | SK Financial Services, LLC [Member] | Fifth Amendment to Third Lien Credit Agreement [Member] | ||||||
| Debt Instrument [Line Items] | ||||||
| Payment for revolving credit facility | $ 15,000 | |||||
Inventory - Additional Information (Detail) - USD ($) $ in Thousands |
May 03, 2025 |
Feb. 01, 2025 |
|---|---|---|
| Inventory Disclosure [Abstract] | ||
| Finished goods, net of reserves | $ 62,260 | $ 59,146 |
Share-Based Compensation - Additional Information (Detail) - USD ($) $ in Thousands |
1 Months Ended | 3 Months Ended | 9 Months Ended | 12 Months Ended | ||
|---|---|---|---|---|---|---|
Sep. 30, 2020 |
May 31, 2018 |
May 03, 2025 |
May 04, 2024 |
Nov. 02, 2024 |
Feb. 01, 2025 |
|
| Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||
| Share-based compensation expense | $ 146 | $ (5) | ||||
| Stock options, outstanding | 0 | 0 | ||||
| Stock options, vested | 0 | 0 | ||||
| Stock options, exercisable | 0 | 0 | ||||
| Stock options, granted | 0 | 0 | ||||
| Stock options, expirations or forfeitures | 0 | 0 | ||||
| Stock options, exercised | 0 | 0 | ||||
| Non-employees [Member] | ||||||
| Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||
| Share-based compensation expense | $ 87 | $ 74 | ||||
| Vince 2013 Incentive Plan [Member] | ||||||
| Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||
| Additional shares of common stock available for issuance | 1,000,000 | 660,000 | ||||
| Vince 2013 Incentive Plan [Member] | Employee Stock Option [Member] | ||||||
| Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||
| Vesting period | 4 years | |||||
| Stock options granted pursuant to the plan, description | typically vest in equal installments over four years, subject to the employees' continued employment and expire on the earlier of the tenth anniversary of the grant date or upon termination as outlined in the Vince 2013 Incentive Plan | |||||
| Vince 2013 Incentive Plan [Member] | Restricted Stock Units (RSUs) [Member] | ||||||
| Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||
| Stock options granted pursuant to the plan, description | Restricted stock units ("RSUs") granted typically vest in equal installments over a three-year period or vest in equal installments over four years, subject to the employees' continued employment | |||||
| Maximum [Member] | Vince 2013 Incentive Plan [Member] | ||||||
| Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||
| Number of shares authorized | 2,000,000 | |||||
| Number of shares available for future grants | 630,312 | |||||
| Maximum [Member] | Vince 2013 Incentive Plan [Member] | Employee Stock Option [Member] | ||||||
| Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||
| Share based compensation, award expiration period | 10 years | |||||
| Maximum [Member] | Vince 2013 Incentive Plan [Member] | Restricted Stock Units (RSUs) [Member] | ||||||
| Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||
| Vesting period | 4 years | |||||
| Minimum [Member] | Vince 2013 Incentive Plan [Member] | Restricted Stock Units (RSUs) [Member] | ||||||
| Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||
| Vesting period | 3 years | |||||
Share-Based Compensation - Schedule of Restricted Stock Units Activity (Detail) - Restricted Stock Units (RSUs) [Member] |
3 Months Ended |
|---|---|
|
May 03, 2025
$ / shares
shares
| |
| Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |
| Restricted Stock Units, Non-vested restricted stock units at February 3, 2024 | shares | 366,399 |
| Restricted Stock Units, Granted | shares | 5,000 |
| Restricted Stock Units, Vested | shares | (45,455) |
| Restricted Stock Units, Non-vested restricted stock units at February 1, 2025 | shares | 325,944 |
| Weighted Average Grant Date Fair Value, Non-vested restricted stock units at February 1, 2025 | $ / shares | $ 2.25 |
| Weighted Average Grant Date Fair Value, Granted | $ / shares | 2.04 |
| Weighted Average Grant Date Fair Value, Vested | $ / shares | 1.65 |
| Weighted Average Grant Date Fair Value, Non-vested restricted stock units at May 3, 2025 | $ / shares | $ 2.33 |
Stockholders' Equity - Additional Information (Detail) - USD ($) $ / shares in Units, $ in Thousands |
3 Months Ended | |||||
|---|---|---|---|---|---|---|
Oct. 03, 2024 |
Jun. 30, 2023 |
May 03, 2025 |
May 04, 2024 |
Feb. 01, 2025 |
Sep. 21, 2021 |
|
| Schedule Of Shareholders Equity [Line Items] | ||||||
| Common stock, shares authorized | 100,000,000 | 100,000,000 | ||||
| Common stock, par value | $ 0.01 | $ 0.01 | ||||
| Offering price | $ 4 | $ 7 | ||||
| Registration Statement [Member] | ||||||
| Schedule Of Shareholders Equity [Line Items] | ||||||
| Authorized common stock shares available for sale from time to time in one or more offerings | 10,000,000 | 3,000,000 | ||||
| Common stock, par value | $ 0.01 | |||||
| Offering price | $ 2,925 | |||||
| At-the-Market Offering [Member] | ||||||
| Schedule Of Shareholders Equity [Line Items] | ||||||
| Common stock, par value | $ 0.01 | |||||
| Offering price | $ 7,825 | |||||
| Stock issued during period, shares | 0 | |||||
| Common stock value, available under offering | $ 2,925 | |||||
(Loss) Earnings Per Share - Schedule of Reconciliation of Weighted Average Basic Shares to Weighted Average Diluted Shares Outstanding (Detail) - shares |
3 Months Ended | |
|---|---|---|
May 03, 2025 |
May 04, 2024 |
|
| Earnings Per Share [Abstract] | ||
| Weighted-average shares—basic | 12,820,338 | 12,507,561 |
| Effect of dilutive equity securities | 0 | 104,340 |
| Weighted-average shares—diluted | 12,820,338 | 12,611,901 |
(Loss) Earnings Per Share - Additional Information (Detail) |
3 Months Ended |
|---|---|
|
May 04, 2024
shares
| |
| Earnings Per Share [Abstract] | |
| Number of weighted average of anti-dilutive securities | 233,125 |
Income Taxes - Additional Information (Detail) $ in Thousands |
3 Months Ended |
|---|---|
|
May 04, 2024
USD ($)
| |
| Income Tax Disclosure [Abstract] | |
| Provision (benefit) for income taxes | $ (887) |
| Discrete tax benefit related to equity method investment | 1,681 |
| Tax expense excluding discrete tax impact | $ 794 |
Leases - Additional Information (Detail) - USD ($) $ in Thousands |
3 Months Ended | 12 Months Ended | |
|---|---|---|---|
May 03, 2025 |
May 04, 2024 |
Feb. 01, 2025 |
|
| Lessee Lease Description [Line Items] | |||
| Initial terms of operating leases | 10 years | ||
| Option to extend, description, operating leases | 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 certain recent leases are subject to shorter terms as a result of the implementation of the strategy to pursue shorter lease terms when evaluating certain markets. | ||
| Option to extend, existence, operating leases | true | ||
| Future minimum payment lease not yet commenced | $ 5,909 | ||
| Operating lease cost | 5,680 | $ 5,472 | |
| Sublease term | 3 years | ||
| Sublease, future minimum operating lease remaining payments | $ 2,200 | ||
| Remaining sublease term | 2 years 4 months 24 days | ||
Leases - Summary of Lease Cost (Detail) - USD ($) $ in Thousands |
3 Months Ended | |
|---|---|---|
May 03, 2025 |
May 04, 2024 |
|
| Leases [Abstract] | ||
| Operating lease cost | $ 5,680 | $ 5,472 |
| Variable operating lease cost | 65 | 98 |
| Sublease income | (216) | |
| Total lease cost | $ 5,529 | $ 5,570 |
Leases - Summary of Future Maturity of Lease Liabilities (Detail) $ in Thousands |
May 03, 2025
USD ($)
|
|---|---|
| Leases [Abstract] | |
| Fiscal 2025 | $ 15,544 |
| Fiscal 2026 | 20,449 |
| Fiscal 2027 | 17,287 |
| Fiscal 2028 | 16,674 |
| Fiscal 2029 | 15,896 |
| Thereafter | 39,857 |
| Total lease payments | 125,707 |
| Less: Imputed interest | (26,904) |
| Total operating lease liabilities | $ 98,803 |
Segment Financial Information - Additional Information (Detail) |
3 Months Ended |
|---|---|
|
May 03, 2025
Segments
| |
| Segment Reporting [Abstract] | |
| Number of reportable segments | 2 |
| Expense information used by CODM description | The Company’s CODM evaluates segment performance based on several factors, including Income before income taxes and equity in net income of equity method investment. The CODM uses Income before income taxes and equity in net income of equity method investment as the key performance measure of segment profitability because it excludes the impact of certain items that our CODM believes do not directly reflect our underlying operations, including the impact of income taxes and equity in net income of equity method investment. |
| Segment Reporting, CODM, Individual Title and Position or Group Name [Extensible Enumeration] | srt:ChiefExecutiveOfficerMember |
Segment Financial Information - Summary of Reportable Segments Information (Detail) - USD ($) $ in Thousands |
3 Months Ended | ||||||
|---|---|---|---|---|---|---|---|
May 03, 2025 |
May 04, 2024 |
Feb. 01, 2025 |
|||||
| Segment Reporting Information [Line Items] | |||||||
| Net Sales | [1] | $ 57,933 | $ 59,171 | ||||
| Cost of Products Sold | [2] | 28,770 | 29,258 | ||||
| Income (loss) before income taxes and equity in net income (loss) of equity method investment | (5,294) | 3,958 | |||||
| Depreciation and Amortization | 761 | 1,013 | |||||
| Capital Expenditures | 1,424 | 740 | |||||
| Total Assets | 217,957 | $ 222,735 | |||||
| Operating Segments [Member] | |||||||
| Segment Reporting Information [Line Items] | |||||||
| Net Sales | 57,933 | 59,171 | |||||
| Cost of Products Sold | 28,770 | 29,258 | |||||
| Staff and Personnel | 6,622 | 6,800 | |||||
| Occupancy | 6,672 | 6,457 | |||||
| Marketing and advertising | 2,304 | 2,044 | |||||
| Other segment items | 4,968 | 4,492 | |||||
| Income (loss) before income taxes and equity in net income (loss) of equity method investment | 8,597 | 10,120 | |||||
| Depreciation and Amortization | 686 | 793 | |||||
| Capital Expenditures | 1,386 | 740 | |||||
| Total Assets | 165,584 | 168,602 | |||||
| Operating Segments [Member] | Vince Wholesale [Member] | |||||||
| Segment Reporting Information [Line Items] | |||||||
| Net Sales | 30,290 | 30,257 | |||||
| Cost of Products Sold | 18,458 | 18,136 | |||||
| Staff and Personnel | 896 | 1,030 | |||||
| Occupancy | 108 | 70 | |||||
| Marketing and advertising | 113 | 133 | |||||
| Other segment items | 1,318 | 704 | |||||
| Income (loss) before income taxes and equity in net income (loss) of equity method investment | 9,397 | 10,184 | |||||
| Depreciation and Amortization | 76 | 22 | |||||
| Capital Expenditures | 96 | ||||||
| Total Assets | 70,387 | 68,488 | |||||
| Operating Segments [Member] | Vince Direct-to-Consumer [Member] | |||||||
| Segment Reporting Information [Line Items] | |||||||
| Net Sales | 27,643 | 28,914 | |||||
| Cost of Products Sold | 10,312 | 11,122 | |||||
| Staff and Personnel | 5,726 | 5,770 | |||||
| Occupancy | 6,564 | 6,387 | |||||
| Marketing and advertising | 2,191 | 1,911 | |||||
| Other segment items | 3,650 | 3,788 | |||||
| Income (loss) before income taxes and equity in net income (loss) of equity method investment | (800) | (64) | |||||
| Depreciation and Amortization | 610 | 771 | |||||
| Capital Expenditures | 1,290 | 740 | |||||
| Total Assets | 95,197 | 100,114 | |||||
| Unallocated Corporate [Member] | |||||||
| Segment Reporting Information [Line Items] | |||||||
| Income (loss) before income taxes and equity in net income (loss) of equity method investment | (13,891) | (13,795) | |||||
| Depreciation and Amortization | 75 | 220 | |||||
| Capital Expenditures | 38 | ||||||
| Total Assets | $ 52,373 | $ 54,133 | |||||
| Unallocated Corporate [Member] | Rebecca Taylor and Parker [Member] | |||||||
| Segment Reporting Information [Line Items] | |||||||
| Income (loss) before income taxes and equity in net income (loss) of equity method investment | $ 7,633 | ||||||
| |||||||
Segment Financial Information - Summary of Reportable Segments Information (Parenthetical) (Detail) - USD ($) $ in Thousands |
3 Months Ended | |
|---|---|---|
May 03, 2025 |
May 04, 2024 |
|
| Vince Wholesale [Member] | ||
| Segment Reporting Information [Line Items] | ||
| Royalty expense | $ 1,762 | $ 1,811 |
| Vince Direct-to-Consumer [Member] | ||
| Segment Reporting Information [Line Items] | ||
| Royalty expense | $ 820 | $ 877 |
Related Party Transactions - Additional Information (Detail) - USD ($) |
3 Months Ended | ||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
May 25, 2023 |
May 03, 2025 |
May 04, 2024 |
May 01, 2025 |
Feb. 01, 2025 |
Jan. 22, 2025 |
Dec. 11, 2020 |
|||||||
| Related Party Transaction [Line Items] | |||||||||||||
| Maximum borrowing capacity | $ 34,749,000 | $ 19,156,000 | |||||||||||
| Received distributions of cash under operating agreement | 1,776,000 | $ 607,000 | |||||||||||
| Payment of cash under license agreement | 7,913,000 | 4,761,000 | |||||||||||
| Net sales | [1] | 57,933,000 | 59,171,000 | ||||||||||
| Cost of products sold | [2] | 28,770,000 | 29,258,000 | ||||||||||
| Selling, general and administrative expenses | [3] | 33,601,000 | 31,943,000 | ||||||||||
| Related Party [Member] | |||||||||||||
| Related Party Transaction [Line Items] | |||||||||||||
| Prepaid royalty expense | 1,818,000 | ||||||||||||
| Accrued royalty expenses | 3,513,000 | ||||||||||||
| V Opco [Member] | Minimum [Member] | |||||||||||||
| Related Party Transaction [Line Items] | |||||||||||||
| Royalty expense | $ 11,000,000 | ||||||||||||
| P180 Vince Acquisition Co. [Member] | |||||||||||||
| Related Party Transaction [Line Items] | |||||||||||||
| Outstanding reimbursements | 599,000 | ||||||||||||
| CaaStle Inc [Member] | Related Party [Member] | |||||||||||||
| Related Party Transaction [Line Items] | |||||||||||||
| Outstanding amount due | 0 | 24,000 | |||||||||||
| Third Lien Credit Agreement [Member] | |||||||||||||
| Related Party Transaction [Line Items] | |||||||||||||
| Maximum borrowing capacity | 7,986,000 | $ 7,743,000 | $ 20,000,000 | ||||||||||
| CaaStle Platform Services Agreement [Member] | |||||||||||||
| Related Party Transaction [Line Items] | |||||||||||||
| Net sales | 149,000 | 401,000 | |||||||||||
| Cost of products sold | 230,000 | 12,000 | |||||||||||
| Selling, general and administrative expenses | $ 195,000 | 136,000 | |||||||||||
| Sun Capital [Member] | Third Lien Credit Agreement [Member] | |||||||||||||
| Related Party Transaction [Line Items] | |||||||||||||
| Ownership percentage of common stock | 67.00% | ||||||||||||
| Sun Capital [Member] | Amended and Restated Certificate of Incorporation [Member] | |||||||||||||
| Related Party Transaction [Line Items] | |||||||||||||
| Ownership percentage of common stock | 30.00% | ||||||||||||
| Sun Capital Consulting Agreement [Member] | |||||||||||||
| Related Party Transaction [Line Items] | |||||||||||||
| Date of related party transaction agreement | Nov. 27, 2013 | ||||||||||||
| Reimbursement of expenses incurred | $ 0 | $ 9,000 | |||||||||||
| Second and Third Amended and Restated Bylaws [Member] | |||||||||||||
| Related Party Transaction [Line Items] | |||||||||||||
| Ownership percentage of common stock | 30.00% | ||||||||||||
| |||||||||||||
Subsequent Event - Additional Information (Details) $ in Thousands |
3 Months Ended |
|---|---|
|
Aug. 02, 2025
USD ($)
| |
| Forecast [Member] | |
| Subsequent Event [Line Items] | |
| Payroll subsidies for employee retention credit | $ 3,580 |