VINCE HOLDING CORP.
For the period ended Nov 1, 2025. Filed Dec 10, 2025.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Nov 1, 2025 · Filed Dec 10, 2025
VNCE$12.68+0.5%Stored close · as of Nov 6, 2026
What changed in Management’s Discussion and Analysis?
Read the current filingPrevious report: 10-Q
Period ended 2025-08-02; filed 2025-09-12.
0001579157-25-000008
Item 2. Management's Discussion and Analysis of Financial Condition and Results of OperationsCurrent report: 10-Q
Period ended 2025-11-01; filed 2025-12-10.
0001193125-25-314362
Item 2. Management's Discussion and Analysis of Financial Condition and Results of OperationsThe baseline is this issuer’s latest earlier reporting period of the same form that was filed before the current report. A previous 10-Q is a different quarter, not a year-over-year comparison. Amendments are excluded.
Compared 106 previous paragraphs and 102 current paragraphs.
57 unchanged; 41 reworded; 4 added; 4 removed; 4 previous and 0 current paragraphs rearranged.
Tables are not compared: 10 previous and 10 current tables excluded. Dates, whitespace, punctuation and numbering changes are ignored; changes to financial figures remain significant.
A changed paragraph is not evidence that risk increased or decreased. An unchanged paragraph does not establish that risk stayed the same.
Added paragraphs (4)
Current report
Recent Developments
Current report
In October 2025, the Company voluntarily transferred its common stock from the New York Stock Exchange (the “NYSE”) to the Nasdaq Stock Market LLC (“Nasdaq”), retaining the ticker symbol “VNCE”. The Company’s common stock ceased trading on the NYSE as of market close on October 20, 2025 and began trading on Nasdaq at market open on October 21, 2025.
Current report
Net sales from our Vince Wholesale segment increased $3,250, or 6.7%, to $52,015 in the three months ended November 1, 2025 from $48,765 in the three months ended November 2, 2024, due primarily to increased shipments.
Current report
Nine Months Ended November 1, 2025 Compared to Nine Months Ended November 2, 2024
Removed paragraphs (4)
Previous report
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 and as such, tax provisions for the interim periods should not be recognized until the Company has year-to-date ordinary pre-tax income.
Previous report
Net sales from our Vince Wholesale segment decreased $2,422, or 5.1%, to $44,762 in the three months ended August 2, 2025 from $47,184 in the three months ended August 3, 2024, due to lower full-price shipments, partially offset by an increase in shipments of off-price products.
Previous report
Six Months Ended August 2, 2025 Compared to Six Months Ended August 3, 2024
Previous report
For the six months ended August 2, 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 and as such, tax provisions for the interim periods should not be recognized until the Company has year-to-date ordinary pre-tax income.
Reworded paragraphs (41)
Previous wording
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. As of August 2, 2025, we operate 44 full-price retail stores, 14 outlet stores, and the e-commerce site, vince.com. Vince is also available through premium wholesale channels globally.
Current wording
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. As of November 1, 2025, we operate 46 full-price retail stores, 14 outlet stores, and the e-commerce site, vince.com. Vince is also available through premium wholesale channels globally.
Previous wording
Net sales for the three months ended August 2, 2025 were $73,241, decreasing $928, or 1.3%, versus $74,169 for the three months ended August 3, 2024.
Current wording
Net sales for the three months ended November 1, 2025 were $85,126, increasing $4,964, or 6.2%, versus $80,162 for the three months ended November 2, 2024.
Previous wording
Gross profit increased 5.1% to $36,938 for the three months ended August 2, 2025 from $35,131 in the prior year second quarter. As a percentage of sales, gross margin was 50.4%, compared with 47.4% in the prior year second quarter. The total gross margin rate increase was primarily driven by the following factors:
Current wording
Gross profit increased 4.6% to $41,907 for the three months ended November 1, 2025 from $40,058 in the prior year third quarter. As a percentage of sales, gross margin was 49.2%, compared with 50.0% in the prior year third quarter. The total gross margin rate decrease was primarily driven by the following factors:
Previous wording
The unfavorable impact from higher tariffs of approximately 170 basis points; and
Current wording
The unfavorable impact from higher tariffs of approximately 260 basis points; and
Previous wording
The unfavorable impact of increased freight costs of approximately 100 basis points.
Current wording
The unfavorable impact of increased freight of approximately 100 basis points; partly offset by
Previous wording
The favorable impact from lower product costing and higher pricing which contributed positively by approximately 330 basis points;
Current wording
The favorable impact from lower product costing and higher pricing which contributed positively by approximately 140 basis points; and
Previous wording
The favorable impact of lower discounting which contributed positively by approximately 70 basis points; partly offset by
Current wording
The favorable impact of lower discounting which contributed positively by approximately 110 basis points.
Previous wording
Selling, general and administrative ("SG&A") expenses for the three months ended August 2, 2025 were $25,787, decreasing $8,214, or 24.2%, versus $34,001 for the three months ended August 3, 2024. SG&A expenses as a percentage of sales were 35.2% and 45.8% for the three months ended August 2, 2025 and August 3, 2024, respectively. The decrease in SG&A expenses compared to the prior fiscal year period was due primarily to approximately $7,200 of decreased compensation and benefits, due mainly to the ERC benefit of $5,613 which was recorded as an offset to compensation expense, and also a decrease in severance costs. Professional service fees also decreased by approximately $490 from the prior fiscal year period.
Current wording
Selling, general and administrative ("SG&A") expenses for the three months ended November 1, 2025 were $36,472, increasing $2,175, or 6.3%, versus $34,297 for the three months ended November 2, 2024. SG&A expenses as a percentage of sales were 42.8% and 42.8% for the three months ended November 1, 2025 and November 2, 2024, respectively. The increase in SG&A expenses compared to the prior fiscal year period was due primarily to approximately $1,090 of increased compensation and benefits and approximately $760 of increased marketing and advertising costs.
Previous wording
Interest expense, net decreased $798, or 48.5%, to $849 in the three months ended August 2, 2025 from $1,647 in the three months ended August 3, 2024, primarily due to lower levels of debt under the Third Lien credit facility.
Current wording
Interest expense, net decreased $718, or 42.5%, to $973 in the three months ended November 1, 2025 from $1,691 in the three months ended November 2, 2024, primarily due to lower levels of debt under the Third Lien credit facility.
Previous wording
The benefit for income taxes was $794 for the three months ended August 3, 2024 due to the reversal of the $794 ordinary tax expense recorded during the first quarter of fiscal 2024 as the Company had year-to-date ordinary pre-tax losses for the interim period and was anticipating annual ordinary pre-tax income for the fiscal year. The Company had determined that it was more likely than not that the tax benefit of the year-to-date ordinary pre-tax loss would not be realized in the current or future years and as such, tax provisions for the interim periods should not be recognized until the Company has year-to-date ordinary pre-tax income.
Current wording
Provision for income taxes for the three months ended November 1, 2025 was $2,002, compared to $0 for the three months ended November 2, 2024. The increase is due to the impact of applying the Company's estimated annual effective tax rate to the year-to-date ordinary pre-tax income. In the prior comparative period, the Company had year-to-date ordinary pre-tax losses for the interim period and anticipated annual ordinary pre-tax income for the fiscal year. The Company determined that it was more likely than not that the tax benefit of the year-to-date ordinary pre-tax loss would not be realized in the current or future years and therefore, the Company did not record any tax expense during the prior comparative period, as tax provisions for the interim periods should not be recognized until the Company has year-to-date ordinary pre-tax income.
Previous wording
Equity in net income (loss) of equity method investment for the three months ended August 2, 2025 and August 3, 2024 was $256 and $292, respectively, and consists of the Company's proportionate share of ABG Vince's net income (loss).
Current wording
Equity in net income of equity method investment for the three months ended November 1, 2025 and November 2, 2024 was $266 and $279, respectively, and consists of the Company's proportionate share of ABG Vince's net income.
Previous wording
Income from operations from our Vince Wholesale segment increased $395, or 2.4%, to $17,058 in the three months ended August 2, 2025 from $16,663 in the three months ended August 3, 2024, primarily driven by an improved gross margin and a decrease in SG&A expenses, partially offset by a decrease in net sales.
Current wording
Income from operations from our Vince Wholesale segment increased $211, or 1.2%, to $18,434 in the three months ended November 1, 2025 from $18,223 in the three months ended November 2, 2024, primarily driven by an increase in net sales, partially offset by increased SG&A expenses and a decrease in gross margin primarily due to the impact of tariffs.
Previous wording
Net sales from our Vince Direct-to-consumer segment increased $1,494, or 5.5%, to $28,479 in the three months ended August 2, 2025 from $26,985 in the three months ended August 3, 2024. Comparable sales, including e-commerce, increased $1,950 or 8.1%, due to an increase in both e-commerce and retail stores volume. Non-comparable sales, including Vince Unfold, which was exited in the first quarter of fiscal 2025, declined $456. Since August 3, 2024, three net stores have closed bringing our total retail store count to 58 (consisting of 44 full price stores and 14 outlet stores) as of August 2, 2025, compared to 61 (consisting of 47 full price stores and 14 outlet stores) as of August 3, 2024.
Current wording
Net sales from our Vince Direct-to-consumer segment increased $1,714, or 5.5%, to $33,111 in the three months ended November 1, 2025 from $31,397 in the three months ended November 2, 2024. Comparable sales, including e-commerce, increased $1,458 or 5.1%, due to an increase in both e-commerce and retail stores volume and higher prices. Non-comparable sales, including Vince Unfold, which was exited in the first quarter of fiscal 2025, increased $256. Since November 2, 2024, one net store has closed bringing our total retail store count to 60 (consisting of 46 full price stores and 14 outlet stores) as of November 1, 2025, compared to 61 (consisting of 47 full price stores and 14 outlet stores) as of November 2, 2024.
Previous wording
Our Vince Direct-to-consumer segment had income from operations of $211 in the three months ended August 2, 2025 compared to a loss from operations of $1,398 in the three months ended August 3, 2024. The increase was primarily driven by an increase in net sales and an improved gross margin.
Current wording
Our Vince Direct-to-consumer segment had income from operations of $1,177 in the three months ended November 1, 2025 compared to $614 in the three months ended November 2, 2024. The increase was primarily driven by an increase in net sales, partially offset by a decrease in gross margin primarily due to the impact of tariffs.
Previous wording
Net sales for the six months ended August 2, 2025 were $131,174, decreasing $2,166, or 1.6%, versus $133,340 for the six months ended August 3, 2024.
Current wording
Net sales for the nine months ended November 1, 2025 were $216,300, increasing $2,798, or 1.3%, versus $213,502 for the nine months ended November 2, 2024.
Previous wording
Gross profit increased 1.6% to $66,101 for the six months ended August 2, 2025 from $65,044 in the six months ended August 3, 2024. As a percentage of sales, gross margin was 50.4%, compared with 48.8% in the six months ended August 3, 2024. The total gross margin rate increase was primarily driven by the following factors:
Current wording
Gross profit increased 2.8% to $108,008 for the nine months ended November 1, 2025 from $105,102 in the nine months ended November 2, 2024. As a percentage of sales, gross margin was 49.9%, compared with 49.2% in the nine months ended November 2, 2024. The total gross margin rate increase was primarily driven by the following factors:
Previous wording
The favorable impact from lower product costing and higher pricing which contributed positively by approximately 340 basis points;
Current wording
The favorable impact from lower product costing and higher pricing which contributed positively by approximately 270 basis points;
Previous wording
The favorable impact of lower discounting which contributed positively by approximately 210 basis points; partly offset by
Current wording
The favorable impact of lower discounting which contributed positively by approximately 90 basis points; partly offset by
Previous wording
The unfavorable impact from higher tariffs of approximately 100 basis points.
Current wording
The unfavorable impact from higher tariffs of approximately 190 basis points; and
Previous wording
The unfavorable impact of increased freight costs which contributed negatively by approximately 150 basis points; and
Current wording
The unfavorable impact of increased freight costs which contributed negatively by approximately 120 basis points.
Previous wording
Gain on sale of subsidiaryfor the six months ended August 3, 2024 was $7,634 related to the sale of Rebecca Taylor. See Note 2 "Recent Transactions" to the Condensed Consolidated Financial Statements in this Quarterly Report for further information.
Current wording
Gain on sale of subsidiaryfor the nine months ended November 2, 2024 was $7,634 related to the sale of Rebecca Taylor. See Note 2 "Recent Transactions" to the Condensed Consolidated Financial Statements in this Quarterly Report for further information.
Previous wording
SG&A expenses for the six months ended August 2, 2025 were $59,388, decreasing $6,556, or 9.9%, versus $65,944 for the six months ended August 3, 2024. SG&A expenses as a percentage of sales were 45.3% and 49.5% for the six months ended August 2, 2025 and August 3, 2024, respectively. The decrease in SG&A expenses compared to the prior fiscal year period was due primarily to approximately $7,100 of decreased compensation and benefits, due mainly to the ERC benefit of $5,613 which was recorded as an offset to compensation expense, and also a decrease in severance costs. Professional service fees also decreased by approximately $480 from the prior fiscal year period. These decreases in SG&A expenses were partially offset by an increase in legal expenses of approximately $740.
Current wording
SG&A expenses for the nine months ended November 1, 2025 were $95,860, decreasing $4,381, or 4.4%, versus $100,241 for the nine months ended November 2, 2024. SG&A expenses as a percentage of sales were 44.3% and 47.0% for the nine months ended November 1, 2025 and November 2, 2024, respectively. The decrease in SG&A expenses compared to the prior fiscal year period was due primarily to approximately $6,000 of decreased compensation and benefits, due mainly to the ERC benefit of $5,613 which was recorded as a partial offset to compensation expense, and also a decrease in severance costs. Professional service fees also decreased by approximately $450 from the prior fiscal year period. These decreases in SG&A expenses were partially offset by increases in legal expenses of approximately $1,290 and marketing and advertising costs of approximately $1,090.
Previous wording
Interest expense, net decreased $1,588, or 48.2%, to $1,705 in the six months ended August 2, 2025 from $3,293 in the six months ended August 3, 2024 primarily due to lower levels of debt under the Third Lien credit facility.
Current wording
Interest expense, net decreased $2,306, or 46.3%, to $2,678 in the nine months ended November 1, 2025 from $4,984 in the nine months ended November 2, 2024 primarily due to lower levels of debt under the Third Lien credit facility.
Previous wording
Other (income) for the three months ended August 2, 2025 relates to receipt of interest in connection with the ERC benefit. See Note 9 "Commitments and Contingencies" for further information.
Current wording
Other (income) for the nine months ended November 1, 2025 relates to receipt of interest in connection with the ERC benefit. See Note 9 "Commitments and Contingencies" for further information.
Previous wording
Provision (benefit) for income taxes for the six months ended August 2, 2025 was $58 which represents a discrete tax expense recorded during the second quarter of fiscal 2025 relating to interest received in connection with the ERC.
Current wording
Provision (benefit) for income taxes for the nine months ended November 1, 2025 was $2,060, consisting of $2,002 of ordinary tax expense recorded during the third quarter of fiscal 2025 and a discrete tax expense of $58 recorded during the second quarter of fiscal 2025 relating to interest received in connection with the ERC.
Previous wording
The benefit for income taxes was $1,681 for the six months ended August 3, 2024. The benefit represents the discrete tax benefit recorded during the first quarter of fiscal 2024 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.
Current wording
The benefit for income taxes was $1,681 for the nine months ended November 2, 2024. The benefit represents the discrete tax benefit recorded during the first quarter of fiscal 2024 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.
Previous wording
Equity in net income (loss) of equity method investment for the six months ended August 2, 2025 and August 3, 2024 was income of $747 and a loss of $173, respectively, and was related to the Company's 25% membership interest in ABG Vince.
Current wording
Equity in net income of equity method investment for the nine months ended November 1, 2025 and November 2, 2024 was income of $1,013 and $106, respectively, and was related to the Company's 25% membership interest in ABG Vince.
Previous wording
(1) Activity for the Rebecca Taylor and Parker reconciling item for the six months ended August 3, 2024 primarily consists of the gain recognized on the sale of Rebecca Taylor.
Current wording
(1) Activity for the Rebecca Taylor and Parker reconciling item for the nine months ended November 2, 2024 primarily consists of the gain recognized on the sale of Rebecca Taylor.
Previous wording
(1) Unallocated corporate for the three months ended August 2, 2025 includes the ERC benefit of $5,613. See Note 9 "Commitments and Contingencies" for further information.
Current wording
(2) Unallocated corporate for the nine months ended November 1, 2025 includes the ERC benefit of $5,613. See Note 9 "Commitments and Contingencies" for further information.
Previous wording
Net sales from our Vince Wholesale segment decreased $2,389, or 3.1%, to $75,052 in the six months ended August 2, 2025 from $77,441 in the six months ended August 3, 2024, primarily due to lower full-price shipments, partially offset by an increase in shipments of off-price products.
Current wording
Net sales from our Vince Wholesale segment increased $861, or 0.7%, to $127,067 in the nine months ended November 1, 2025 from $126,206 in the nine months ended November 2, 2024, primarily due to increased shipments of off-price products, partially offset by a decrease in full-price shipments.
Previous wording
Income from operations from our Vince Wholesale segment decreased $392, or 1.5%, to $26,455 in the six months ended August 2, 2025 from $26,847 in the six months ended August 3, 2024, primarily driven by a decrease in net sales, partially offset by improved gross margin.
Current wording
Income from operations from our Vince Wholesale segment decreased $181, or 0.4%, to $44,889 in the nine months ended November 1, 2025 from $45,070 in the nine months ended November 2, 2024, primarily driven by increased SG&A expenses, partially offset by increased sales and improved gross margin.
Previous wording
Net sales from our Vince Direct-to-consumer segment increased $223, or 0.4%, to $56,122 in the six months ended August 2, 2025 from $55,899 in the six months ended August 3, 2024. Comparable sales, including e-commerce, increased $2,650 or 5.5%, due to an increase in both e-commerce and retail stores volume. Non-comparable sales, including Vince Unfold, which was exited in the first quarter of fiscal 2025, declined $2,427. Since August 3, 2024, three net stores have closed bringing our total retail store count to 58 (consisting of 44 full price stores and 14 outlet stores) as of August 2, 2025, compared to 61 (consisting of 47 full price stores and 14 outlet stores) as of August 3, 2024.
Current wording
Net sales from our Vince Direct-to-consumer segment increased $1,937, or 2.2%, to $89,233 in the nine months ended November 1, 2025 from $87,296 in the nine months ended November 2, 2024. Comparable sales, including e-commerce, increased $4,108 or 5.3%, due to an increase in both e-commerce and retail stores volume. Non-comparable sales, including Vince Unfold, which was exited in the first quarter of fiscal 2025, declined $2,171. Since November 2, 2024, one net store has closed bringing our total retail store count to 60 (consisting of 46 full price stores and 14 outlet stores) as of November 1, 2025, compared to 61 (consisting of 47 full price stores and 14 outlet stores) as of November 2, 2024.
Previous wording
Our Vince Direct-to-consumer segment had a loss from operations of $589 in the six months ended August 2, 2025 compared to a loss from operations of $1,462 in the six months ended August 3, 2024. The change was primarily driven by an improved gross margin.
Current wording
Our Vince Direct-to-consumer segment had income from operations of $588 in the nine months ended November 1, 2025 compared to a loss from operations of $848 in the nine months ended November 2, 2024. The change was primarily driven by increased sales and an improved gross margin.
Previous wording
Net cash used in operating activities during the six months ended August 2, 2025 was $7,615, which consisted of net income of $7,257, impacted by non-cash items of $3,811 and cash used in working capital of $18,683. Net cash used in working capital primarily resulted from cash outflows of $17,521 due to an increase in inventories related to the timing of inventory receipts and increased costs due primarily to the impact of tariffs, and cash outflows in accounts payable and accrued expenses due to mainly to inventory purchases, partially offset by a decrease in receivables due to timing of collections.
Current wording
Net cash used in operating activities during the nine months ended November 1, 2025 was $12,681, which consisted of net income of $9,983, impacted by non-cash items of $5,811 and cash used in working capital of $28,475. Net cash used in working capital primarily resulted from cash outflows of $16,670 due to an increase in inventories related to the timing of inventory receipts and increased costs due primarily to the impact of tariffs, cash outflows in accounts payable and accrued expenses due mainly to inventory purchases, and an increase in receivables driven by the timing of sales.
Previous wording
Net cash used in operating activities during the six months ended August 3, 2024 was $7,072, which consisted of net income of $4,949, impacted by non-cash items of $(2,793) consisting primarily of the gain on sale of subsidiary, and cash used in working capital of $9,228. Net cash used in working capital primarily resulted from cash outflows due to an increase in receivables driven by the timing of sales, an increase in inventories due to seasonal cadence, and cash outflows in prepaid expenses and other current assets, primarily due to prepaid royalty expenses, partially offset by an increase in accounts payable and accrued expenses, primarily due to seasonal increases in inventory.
Current wording
Net cash used in operating activities during the nine months ended November 2, 2024 was $633, which consisted of net income of $9,298, impacted by non-cash items of $938 consisting primarily of the gain on sale of subsidiary, and cash used in working capital of $10,869. Net cash used in working capital primarily resulted from cash outflows due to an increase in receivables driven by the timing of sales, an increase in inventories, and cash outflows in prepaid expenses and other current assets, partially offset by cash inflows in accounts payable and accrued expenses.
Previous wording
Net cash used in investing activities of $3,530 and $1,421 during the six months ended August 2, 2025 and August 3, 2024, respectively, represents capital expenditures primarily related to retail store buildouts, including leasehold improvements and store fixtures.
Current wording
Net cash used in investing activities of $4,165 and $2,725 during the nine months ended November 1, 2025 and November 2, 2024, respectively, represents capital expenditures primarily related to retail store buildouts, including leasehold improvements and store fixtures.
Previous wording
Net cash provided by financing activities was $8,081 during the six months ended August 3, 2024, primarily consisting of $8,130 of net borrowings under the Company's revolving credit facilities.
Current wording
Net cash provided by financing activities was $17,310 during the nine months ended November 1, 2025, primarily consisting of $16,150 of net borrowings under the Company's revolving credit facilities, and $1,295 of proceeds under the Virtu At-the-Market Offering during the third quarter of fiscal 2025 (see Note 7 - Stockholders' Equity).
Previous wording
Net cash provided by financing activities was $11,319 during the six months ended August 2, 2025, primarily consisting of $11,450 of net borrowings under the Company's revolving credit facilities.
Current wording
Net cash provided by financing activities was $3,087 during the nine months ended November 2, 2024, primarily consisting of $3,130 of net borrowings under the Company's revolving credit facilities.
Previous wording
No financing costs were incurred during the three and six months ended August 2, 2025. The Company incurred $0 and $8 of financing costs during the three and six months ended August 3, 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.
Current wording
No financing costs were incurred during the three and nine months ended November 1, 2025. The Company incurred $0 and $8 of financing costs during the three and nine months ended November 2, 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 Condensed Consolidated Balance Sheets) and are amortized over the term of the 2023 Revolving Credit Facility.
Previous wording
As of August 2, 2025, the Company was in compliance with applicable covenants. As of August 2, 2025, $42,607 was available under the 2023 Revolving Credit Facility, net of the Loan Cap, and there were $22,862 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 August 2, 2025 was 6.9%.
Current wording
As of November 1, 2025, the Company was in compliance with applicable covenants. As of November 1, 2025, $47,255 was available under the 2023 Revolving Credit Facility, net of the Loan Cap, and there were $27,563 of borrowings outstanding and $6,191 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 November 1, 2025 was 6.6%.
Showing the first 40 of 41 pairs. Open the source sections for the rest.
Rearranged previous paragraphs (4)
Previous report — wording carried elsewhere
Provision (benefit) for income taxes for the three months ended August 2, 2025 was $58, which represents a discrete tax expense relating to interest received in connection with the ERC.
Previous report — wording carried elsewhere
Other (income) for the six months ended August 2, 2025 relates to receipt of interest in connection with the ERC benefit. See Note 9 "Commitments and Contingencies" for further information.
Previous report — wording carried elsewhere
(2) Unallocated corporate for the six months ended August 2, 2025 includes the ERC benefit of $5,613. See Note 9 "Commitments and Contingencies" for further information.
Previous report — wording carried elsewhere
Intermediate, V Opco and the Company's existing material domestic restricted subsidiaries as well as any future material domestic restricted subsidiaries.