Store Operations - As of November 1, 2025, Build-A-Bear operated 375 corporately-managed stores globally, 168 partner-operated locations, and 108 international franchised stores, with a total of 651 locations[74]. - During the first thirty-nine weeks of fiscal 2025, Build-A-Bear opened a net of 52 new retail experience locations, with expectations of at least 60 new locations for the full fiscal year[80]. - 53% of corporately-managed stores were in an updated Discovery format as of November 1, 2025, indicating a shift towards modernized retail experiences[81]. - The number of partner-operated locations increased to 168 by the end of the third quarter of 2025, with relationships including Carnival Cruise Line and Great Wolf Lodge Resorts[82]. - The company opened 21 new franchised stores during the thirty-nine weeks ended November 1, 2025, bringing the total to 108 franchised stores[84]. Financial Performance - The company reported growth in total revenues and pretax profit in fiscal years 2022, 2023, and 2024, driven by strategic initiatives implemented prior to and during the pandemic[80]. - Total revenues increased by $29.4 million or 8.5% for the thirty-nine weeks ended November 1, 2025, driven by an 8.0% increase in Net Retail sales and a 15% increase in Commercial revenue compared to the same period in 2024[97]. - Net retail sales for the thirty-nine weeks ended November 1, 2025, were $346.5 million, up from $320.8 million for the same period in 2024, with existing stores contributing $17.2 million and new stores contributing $11.4 million[98]. - Commercial revenue reached $25.2 million for the thirty-nine weeks ended November 1, 2025, compared to $21.9 million in the prior year, reflecting a $3.3 million increase primarily from wholesale accounts[99]. - Retail gross margin dollars increased by $20.9 million to $194.6 million for the thirty-nine weeks ended November 1, 2025, with the retail gross margin rate improving by 210 basis points compared to the previous year[101]. - EBITDA for the thirty-nine weeks ended November 1, 2025, increased by $6.2 million or 12.4% to $56.1 million from $49.9 million for the same period in 2024[106]. Strategic Initiatives - Build-A-Bear's digital transformation includes enhancements in marketing, loyalty programs, and digital content to increase consumer engagement and expand its total addressable market[80]. - The company aims to drive profitable growth while returning capital to shareholders through dividends and share repurchases, supported by improved cash flows from robust operating margins[80]. - Build-A-Bear's retail strategy includes expanding into non-traditional locations, such as tourist destinations, and evolving its store formats to adapt to market trends[73]. - The company leverages its brand strength through outbound licensing agreements and engaging content creation to enhance its product offerings and consumer experiences[79]. - Build-A-Bear's omnichannel capabilities include both physical and digital engagement, with retail stores acting as mini distribution centers for efficient fulfillment of digital demand[77]. Cash Flow and Investments - As of November 1, 2025, the consolidated cash balance was $27.7 million, with 79% domiciled in the U.S.[112]. - Net cash provided by operating activities increased by $12.7 million to $40.3 million for the thirty-nine weeks ended November 1, 2025, compared to $27.6 million for the same period in 2024[113]. - Cash used in investing activities increased by $3.3 million to $12.9 million for the thirty-nine weeks ended November 1, 2025, primarily due to increased capital expenditures[114]. - Cash used in financing activities decreased by $5.9 million to $27.5 million for the thirty-nine weeks ended November 1, 2025, driven by reduced share repurchases[115]. - Capital spending totaled $12.9 million for information technology projects and new store openings, with an expected expenditure of $20 to $25 million in fiscal 2025[119]. - Purchase obligations totaled approximately $119.7 million as of November 1, 2025, with $27.4 million due in the next 12 months[121]. Market Conditions - Inflation has impacted operations, particularly through higher store labor costs and increased input prices, with expectations of continued inflationary pressures throughout fiscal 2025[124].

Financial Performance - For the three months ended October 31, 2025, the company reported a net loss of $(334,027), or $(0.17) per share, compared to a net income of $26,657, or $0.01 per share in the same period of 2024[70]. - Revenues decreased to $5,251,414 from $5,539,129 in the comparable period, primarily due to tenant losses and decreased rents[71]. - Real estate operating expenses increased to $4,077,513 from $3,750,139, driven by higher real estate taxes, insurance, and maintenance expenses[72]. - Administrative and general expenses decreased to $1,189,818 from $1,292,753, mainly due to lower legal and professional fees[73]. Cash Flow and Liquidity - Net cash provided by operating activities was $1,922,263, an increase from $1,802,641 in the prior year[78]. - As of October 31, 2025, total liquidity was $2,188,982, including cash and cash equivalents[80]. Capital Expenditures and Debt - The company anticipates incurring an additional $1.9 million in capital expenditures over the next twelve months[80]. - The company has outstanding mortgage debt of approximately $3.2 million, with a maturity date of April 1, 2040[81]. Lease Agreements - The company exercised a lease extension for its Jamaica Avenue property, extending the lease through May 31, 2040[75]. - The company leased 20,000 square feet of retail space at its Massapequa building for a monthly rent starting at $4,500, increasing to $5,500 after the first year[76].

FOR IMMEDIATE RELEASE Ciena Reports Fiscal Fourth Quarter 2025 and Year-End Financial Results HANOVER, Md. - December 11, 2025 - Ciena Corporation (NYSE: CIEN) today announced financial results for its fiscal fourth quarter and year ended November 1, 2025. ® "Our record fiscal fourth quarter and full-year performance reinforces our position as the global leader in high-speed connectivity with an expanding role in the AI ecosystem," said Gary Smith, president and CEO, Ciena. "Looking ahead, we are confident ...

Financial Performance - Net sales for the thirteen weeks ended November 2, 2025, were $150,166, a slight increase from $149,905 for the same period in 2024, representing a growth of 0.2%[20] - Gross profit for the thirty-nine weeks ended November 2, 2025, was $249,215, compared to $252,053 for the same period in 2024, indicating a decrease of 1.1%[20] - The net loss for the thirteen weeks ended November 2, 2025, was $10,551, compared to a net loss of $4,930 for the same period in 2024, reflecting an increase in losses of 114%[20] - Operating loss for the thirty-nine weeks ended November 2, 2025, was $39,581, compared to $33,950 for the same period in 2024, an increase of 16.5%[20] - For the thirteen weeks ended November 2, 2025, total net sales were $150.2 million, a slight increase from $149.9 million for the same period in 2024[40] - The company reported a net cash used in operating activities of $34,093 for the thirty-nine weeks ended November 2, 2025, compared to $5,046 for the same period in 2024, indicating a significant increase in cash outflow[24] - For the thirty-nine weeks ended November 2, 2025, total net sales were $449.069 million, compared to $439.138 million for the same period in 2024, representing a 2.1% increase[75] - The basic and diluted net loss per share for the thirteen weeks ended November 2, 2025, was $0.72, compared to $0.32 for the same period in 2024, indicating a significant decline in earnings per share[48] Assets and Liabilities - Total current assets decreased from $246,597 as of February 2, 2025, to $185,986 as of November 2, 2025, a decline of 24.5%[18] - Total liabilities decreased from $315,895 as of February 2, 2025, to $306,207 as of November 2, 2025, a reduction of 3.4%[18] - Cash and cash equivalents dropped significantly from $83,734 as of February 2, 2025, to $23,722 as of November 2, 2025, a decrease of 71.6%[18] - As of November 2, 2025, customer deposit liabilities amounted to $8.7 million, down from $11.3 million as of February 2, 2025[38] - As of November 2, 2025, the company's borrowing availability under the line of credit was $36,000,000, up from $32,600,000 as of February 2, 2025, indicating improved liquidity[58] Sales Channels - Showroom sales accounted for $102.7 million, representing a 12.1% increase from $91.0 million in the prior year[40] - Internet sales decreased to $37.3 million from $44.9 million, a decline of 16.9% year-over-year[40] - Net sales from showrooms constituted 68.4% and 60.7% of total net sales for the thirteen weeks ended November 2, 2025, and November 3, 2024, respectively[88] - Ecommerce sales represented 24.8% and 29.9% of total net sales for the thirteen weeks ended November 2, 2025, and November 3, 2024, respectively[88] - Other net sales, including pop-up-shop sales, accounted for 6.8% and 9.4% of total net sales for the thirteen weeks ended November 2, 2025, and November 3, 2024, respectively[90] Expenses - Research and development expenses were $2.3 million for both the thirteen weeks ended November 2, 2025, and November 3, 2024[34] - Shipping and handling costs increased to $31.3 million for the thirteen weeks ended November 2, 2025, compared to $26.1 million in the prior year, reflecting a 19.7% increase[36] - Total lease expense for the thirty-nine weeks ended November 2, 2025, was $31,490,000, an increase from $30,086,000 for the same period in 2024, reflecting a year-over-year increase of approximately 4.7%[49] - Selling, general and administrative (SG&A) expenses rose by $3.2 million, or 4.5%, with SG&A as a percentage of net sales increasing to 49.9% from 47.9%[110] - Advertising and marketing expenses are projected to rise as the company drives net sales growth[101] Equity and Stock - The company incurred $8,201 in equity-based compensation for the thirty-nine weeks ended November 2, 2025, compared to $6,687 for the same period in 2024, an increase of 22.6%[24] - The company recognized equity-based compensation expense of $2.4 million for the thirteen weeks ended November 2, 2025, compared to $2.8 million for the same period in 2024[66] - The total unrecognized equity-based compensation cost related to unvested RSU and PSU awards was approximately $20.3 million as of November 2, 2025[67] - The company repurchased and retired 306,325 shares of common stock for $6.0 million during the thirty-nine weeks ended November 2, 2025[70] - As of November 2, 2025, approximately $14.1 million remained available for future purchases under the share repurchase program[71] Legal and Compliance - The company has been involved in multiple legal proceedings, including a derivative action that was settled on October 2, 2025, concluding the litigation[54] - There were no material changes in internal control over financial reporting during the quarter ended November 2, 2025[147] Future Outlook - The company expects gross profit to increase as net sales grow and scale economics are realized with manufacturing partners[97] - Selling, general and administrative expenses are expected to increase as the company continues to grow its business[100] - The company continues to monitor inflationary pressures and their impact on costs, implementing pricing strategies and productivity improvements[144] - Macroeconomic factors such as inflation and elevated interest rates have negatively impacted demand, contributing to a slowdown in business[85]

Financial Performance - Q3 FY26 net sales increased by 0.2% to $150.2 million compared to Q3 FY25, driven by showroom growth despite declines in internet and other sales channels[1][3][7] - Showroom sales rose by 12.8% to $102.7 million, while internet sales decreased by 16.9% to $37.3 million in Q3 FY26[3][7] - Gross profit decreased by $3.4 million, or 3.9%, with gross margin declining 240 basis points to 56.1% due to increased transportation and tariff costs[3][7] - SG&A expenses increased by 4.5% to $75.0 million, primarily due to payroll and overhead costs[3][7] - The operating loss for Q3 FY26 was $15.8 million, compared to a loss of $7.7 million in the prior year, resulting in an operating margin of (10.5)%[3][7] - Net loss for Q3 FY26 was $10.6 million, or $(0.72) per share, compared to a net loss of $4.9 million, or $(0.32) per share, in Q3 FY25[3][7] - The operating loss for the thirteen weeks ended November 2, 2025, was $15.804 million, compared to a loss of $7.723 million in the prior year, indicating a significant increase in losses[22] - The net loss for the thirty-nine weeks ended November 2, 2025, was $28.041 million, compared to a net loss of $23.751 million for the same period in 2024, representing an increase of approximately 18%[22] - For the thirteen weeks ended November 2, 2025, the net loss was $10,551,000 compared to a net loss of $4,930,000 for the same period in 2024, representing a year-over-year increase in losses of approximately 114%[26] - The total net loss for the thirty-nine weeks ended November 2, 2025 was $28,041,000, compared to a net loss of $23,751,000 for the same period in 2024, indicating an increase in losses of about 18%[26] Cash and Assets - Cash and cash equivalents decreased to $23.7 million as of November 2, 2025, down from $61.7 million a year earlier[9] - Cash and cash equivalents decreased to $23.722 million as of November 2, 2025, down from $83.734 million at the beginning of the period[24] - Total current assets decreased to $185.986 million as of November 2, 2025, compared to $246.597 million as of February 2, 2025[20] - Total merchandise inventory increased to $129.7 million as of November 2, 2025, primarily due to increased freight capitalization and planned stock inventory[9] - Total liabilities as of November 2, 2025, were $306.207 million, a decrease from $315.895 million as of February 2, 2025[20] Future Outlook - The company aims to reach three million Lovesac households by 2030, focusing on product innovation and marketing evolution[2] - For the full year of fiscal 2026, the company expects net sales in the range of $685 million to $705 million and adjusted EBITDA between $37 million and $43 million[14] Expenses and Other Financial Metrics - The company reported a net cash used in operating activities of $34.093 million for the thirty-nine weeks ended November 2, 2025, compared to $5.046 million for the same period in 2024[24] - The company incurred $18.211 million in capital expenditures for property and equipment during the thirty-nine weeks ended November 2, 2025[24] - Interest income, net for the thirty-nine weeks ended November 2, 2025 was $(632,000), down from $(2,139,000) in the same period of 2024, indicating a decrease of approximately 70%[26] - Depreciation and amortization expenses for the thirty-nine weeks ended November 2, 2025 totaled $11,451,000, up from $10,924,000 in the same period of 2024, marking an increase of about 4.8%[26] - Equity-based compensation expenses for the thirty-nine weeks ended November 2, 2025 were $8,337,000, an increase from $6,748,000 in the same period of 2024, representing a growth of approximately 23.5%[26] Non-Recurring Expenses - The company reported a total of $3,397,000 in other non-recurring expenses for the thirteen weeks ended November 2, 2025, which included severance and professional fees related to financial statement restatements[27] - Other non-recurring expenses for the thirty-nine weeks ended November 2, 2025 included impairment charges related to the Best Buy partnership discontinuation[27] - The company incurred a loss on disposal of assets amounting to $2,000 for the thirteen weeks ended November 2, 2025, compared to $12,000 for the same period in 2024[27] Tax and Income - The income tax benefit for the thirteen weeks ended November 2, 2025 was $(5,047,000), compared to $(2,092,000) for the same period in 2024, reflecting an increase in tax benefits of approximately 141%[26]

Financial Performance - Hooker Furnishings reported a consolidated net sales decrease of 14.4% in Q3, primarily due to an $11 million reduction in shipments from the Samuel Lawrence Hospitality segment[8]. - Net sales for the thirteen weeks ended November 2, 2025, were $70,730,000, a decrease of 14.5% compared to $82,670,000 for the same period in 2024[27]. - Consolidated net sales for the thirteen weeks ended November 2, 2025, were $70,730 million, down from $82,670 million in the same period of 2024, representing a decrease of 14.4%[38]. - Gross profit for the thirty-nine weeks ended November 2, 2025, was $52,736,000, down from $55,681,000 in 2024, reflecting a decline of 3.4%[28]. - The company reported a net loss of $21,174,000 for the thirteen weeks ended November 2, 2025, compared to a net loss of $4,131,000 for the same period in 2024[30]. - Basic loss per share for the thirteen weeks ended November 2, 2025, was $1.99, compared to a loss of $0.39 per share in the same period of 2024[28]. - Operating loss for the thirty-nine weeks ended November 2, 2025, was $17,418,000, compared to an operating loss of $9,581,000 in 2024[28]. - Net loss for the thirty-nine weeks ended November 2, 2025, was $27,503 million, compared to a loss of $10,174 million for the same period in 2024[35]. Cost Management - The company achieved approximately $25–$26.5 million in annualized savings from its multi-phase cost-reduction program, reducing its overall cost structure by 25% over the past 18 months[4][6]. - Selling and administrative expenses for the thirty-nine weeks ended November 2, 2025, were $52,667,000, down from $62,408,000 in 2024, indicating a reduction of 15.6%[28]. Impairment Charges - The company recorded non-cash impairment charges totaling $22.1 million in Q3, impacting its operating loss of $16.3 million for the quarter[8]. - The company incurred goodwill and trade name impairment charges of $15,576,000 for the thirteen weeks ended November 2, 2025, compared to $781,000 in the same period of 2024[28]. - The company reported a tradename impairment of $15,576 million for the thirty-nine weeks ended November 2, 2025, compared to $778 million in the previous year[35]. Sales and Orders - Hooker Branded net sales increased by 1.1% in both Q3 and the nine-month period, driven by higher average selling prices despite lower unit volume[7]. - Domestic Upholstery net sales rose by $870,000, or 3.0%, in Q3, with a mixed performance across divisions[13]. - Order backlog declined by 10.3% from fiscal year-end and 23.8% from the prior-year Q3, attributed to a large hospitality project in the previous year[8]. - The order backlog as of November 2, 2025, was $32,735 million, a decrease from $42,938 million in October 2024, reflecting a decline of 23.7%[41]. Cash and Liquidity - Cash and cash equivalents decreased to $1.4 million, with $63.8 million in available borrowing capacity as of quarter-end[11][12]. - Cash used in financing activities for the thirty-nine weeks ended November 2, 2025, was $25,511 million, compared to $8,311 million in the same period of 2024, indicating increased cash outflows[36]. - Cash and cash equivalents decreased from $6,295 million at the beginning of the year to $1,354 million at the end of the quarter, a decline of 78.4%[36]. Strategic Initiatives - A new share repurchase program has been authorized, allowing the company to repurchase up to $5 million of its outstanding common shares, alongside a recalibrated dividend reduced by 50% to $0.46 per share annually[14][15]. - The launch of the Margaritaville licensed collection is expected to drive significant organic growth, supported by a 14,000-square-foot showroom and 55 committed retail galleries across the U.S.[4]. - The company aims to improve profitability despite macroeconomic challenges, focusing on its core businesses for sustainable growth[18]. Risks and Challenges - Future risks include potential adverse political acts affecting international markets and the cyclical nature of the furniture industry, which is sensitive to consumer confidence[24]. - The company plans to monitor macroeconomic conditions and adjust its strategies accordingly to mitigate risks associated with consumer spending patterns[24]. Assets and Liabilities - Total assets decreased from $313,942 million in February 2025 to $240,237 million in November 2025, a decline of approximately 23.4%[32]. - Long-term debt increased significantly from $21,717 million in February 2025 to $3,815 million in November 2025, indicating a reduction in leverage[33]. - Total current liabilities remained relatively stable at $39,541 million in November 2025 compared to $39,974 million in February 2025[33].

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Securities registered pursuant to Section 12(b) of the Act: For the quarterly period ended October 31, 2025 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from __________ to __________ Commission File Number 001-40854 NUTRIBAND INC. (Exact name of registrant as specified i ...

Operating Expenses - Total operating expenses for the three months ended October 31, 2025, were approximately $4,555,000, an increase of $2,413,000 compared to $2,142,000 for the same period in 2024[124] - For the six months ended October 31, 2025, total operating expenses were approximately $8,193,000, up from $4,735,000 in 2024, reflecting an increase of $3,458,000[125] Net Loss - The company reported a net loss of approximately $4,483,000 for the three months ended October 31, 2025, compared to a net loss of $2,103,000 for the same period in 2024[129] - For the six months ended October 31, 2025, the net loss was approximately $6,560,000, slightly higher than the $6,428,000 loss reported in 2024[132] Current Assets and Liabilities - As of October 31, 2025, the company had current assets of $9,834,961, an increase of $939,563 from $8,895,398 as of April 30, 2025[130] - Current liabilities increased to $1,670,308 as of October 31, 2025, compared to $879,953 as of April 30, 2025, reflecting an increase of $790,355[130] - The company had working capital of $8,164,653 as of October 31, 2025, an increase of $149,208 from $8,015,445 as of April 30, 2025[130] Cash Flow - Net cash used in operating activities for the six months ended October 31, 2025, totaled approximately $7,110,000, an increase from $4,012,000 in 2024[134] - The company reported net cash provided by financing activities of approximately $8,898,000 for the six months ended October 31, 2025, primarily from warrant exercises[136] Project Development - The company plans to use Glencore Technology's Jameson Cell Flotation Equipment for enhanced gold and copper recovery at the CK Gold Project[122]

Financial Position - As of October 31, 2025, HP's cash and cash equivalents were $3.69 billion, a decrease from $3.74 billion in 2024[222] - Total debt as of October 31, 2025, was $9.67 billion, with short-term debt at $0.85 billion and long-term debt at $8.82 billion[232] - The weighted-average interest rate on HP's debt increased slightly to 4.6% in 2025 from 4.5% in 2024[232] - As of October 31, 2025, total contractual obligations amount to $14.97 billion, with $2.24 billion due in the short term and $12.73 billion in the long term[241] - Principal payments on debt total $9.69 billion, with $831 million due in the short term and $8.86 billion in the long term[241] - Interest payments on debt are projected at $2.78 billion, with $406 million due in the short term and $2.37 billion in the long term[241] - Purchase obligations are estimated at $1.09 billion, with $509 million due in the short term and $576 million in the long term[241] - Operating lease obligations total $1.39 billion, with $474 million due in the short term and $913 million in the long term[241] Cash Flow - Net cash provided by operating activities for fiscal year 2025 was $3.70 billion, down from $3.75 billion in 2024[222] - Net cash used in investing activities increased to $1.18 billion in 2025, primarily due to higher investments in property and equipment[229] - The cash conversion cycle improved to (38) days in 2025 from (42) days in 2024, driven by changes in accounts receivable and inventory management[224] Shareholder Returns - HP returned $1.9 billion to shareholders in fiscal year 2025, including $1.1 billion in cash dividends and $0.8 billion in share repurchases[231] - The company has approximately $8.4 billion remaining under share repurchase authorizations as of October 31, 2025[231] Liquidity and Financing - HP's liquidity is supported by a $5.0 billion sustainability-linked revolving credit facility maturing in 2029[236] - Third-party short-term financing arrangements are in place to support working capital requirements for certain customers[247] Future Obligations and Plans - The company expects to contribute approximately $43 million to non-U.S. pension plans and $31 million to U.S. non-qualified pension plan participants in fiscal year 2026[242] - Future cash payments related to approved restructuring plans are expected to be around $0.2 billion in fiscal year 2026[243] - Recorded liabilities for uncertain tax positions amount to approximately $797 million, including related interest and penalties[244] - The company has not engaged in off-balance sheet arrangements that would create material relationships with unconsolidated entities[246] Strategic Initiatives - HP's Fiscal 2023 Plan aims to drive growth through investments in product mix and structural cost savings[12]

Financial Performance - Net sales for the three months ended November 1, 2025, were $85,126, an increase of $4,964 or 6.2% compared to $80,162 for the same period in 2024[164] - Gross profit for the three months ended November 1, 2025, was $41,907, up 4.6% from $40,058 in the prior year, with a gross margin of 49.2% compared to 50.0%[165] - Selling, general and administrative (SG&A) expenses increased by $2,175 or 6.3% to $36,472, maintaining a consistent percentage of sales at 42.8%[165] - Net income for the three months ended November 1, 2025, was $2,726, down from $4,349 in the same period last year, with diluted earnings per share at $0.21 compared to $0.34[163] - For the nine months ended November 1, 2025, total net sales were $216,300, an increase of $2,798, or 1.3%, compared to $213,502 for the same period in 2024[178] - Gross profit for the nine months ended November 1, 2025, increased by 2.8% to $108,008, with a gross margin of 49.9%, up from 49.2% in the prior year[179] - SG&A expenses decreased by $4,381, or 4.4%, to $95,860 for the nine months ended November 1, 2025, representing 44.3% of sales compared to 47.0% in the prior year[180] Segment Performance - Vince Wholesale segment net sales increased by $3,250 or 6.7% to $52,015, driven primarily by increased shipments[173] - Income from operations for the Vince Wholesale segment rose by $211 or 1.2% to $18,434, despite increased SG&A expenses and a decrease in gross margin due to tariffs[174] - Vince Direct-to-consumer segment net sales increased by $1,714, or 5.5%, to $33,111 for the three months ended November 1, 2025, compared to $31,397 for the same period in 2024[176] - Income from operations for the Vince Direct-to-consumer segment rose to $1,177 for the three months ended November 1, 2025, up from $614 in the same period in 2024, driven by increased net sales[177] - Net sales from the Vince Wholesale segment increased by $861, or 0.7%, to $127,067 for the nine months ended November 1, 2025, primarily due to increased shipments of off-price products[188] - Income from operations for the Vince Direct-to-consumer segment improved to $588 for the nine months ended November 1, 2025, compared to a loss of $848 in the same period in 2024[191] Expenses and Financing - Interest expense decreased by $718 or 42.5% to $973 due to lower levels of debt under the Third Lien credit facility[166] - Interest expense decreased by $2,306, or 46.3%, to $2,678 for the nine months ended November 1, 2025, primarily due to lower debt levels[181] - Net cash used in operating activities was $12,681 for the nine months ended November 1, 2025, compared to $633 for the same period in 2024, driven by cash outflows in working capital[195][196] - Net cash provided by financing activities was $17,310 for the nine months ended November 1, 2025, compared to $3,087 for the same period in 2024, indicating a significant increase of 460%[198][199] Capital and Debt Management - Capital expenditures for the nine months ended November 1, 2025, were $4,165, up from $2,725 in the same period in 2024, primarily related to retail store buildouts[197] - The company had $47,255 available under the 2023 Revolving Credit Facility as of November 1, 2025, with $27,563 in borrowings and $6,191 in letters of credit outstanding[210] - The weighted average interest rate for borrowings under the 2023 Revolving Credit Facility was 6.6% as of November 1, 2025[210] - The 2023 Revolving Credit Facility has a total capacity of $85,000, with a letter of credit sublimit of $10,000, and matures on June 23, 2028[202] - Following the P180 Acquisition, the outstanding principal amount of the Third Lien Credit Facility was reduced by approximately $27,000, leaving $7,500 remaining outstanding[219] - The company recorded a gain upon extinguishment of the Third Lien Credit Facility amounting to $11,575, which was recognized as a capital contribution within equity[220] - The company is in compliance with all applicable covenants as of November 1, 2025[210] Company Structure and Operations - The company operates 46 full-price retail stores and 14 outlet stores, with a focus on the Vince brand following the sale of the Rebecca Taylor and Parker brands[153] - The company has identified two reportable segments: Vince Wholesale and Vince Direct-to-consumer, with unallocated corporate expenses related to the Vince brand[158] Taxation and Compliance - The provision for income taxes for the three months ended November 1, 2025, was $2,002, compared to $0 in the prior year, reflecting a shift from losses to taxable income[168] - The company is classified as a "smaller reporting company" and is not required to provide certain market risk information[224] Industry Context - The apparel and fashion industry is cyclical, affecting revenues based on economic conditions and seasonal trends[221] - Management's discussion and analysis relies on condensed consolidated financial statements based on critical accounting policies[222] - As of November 1, 2025, there have been no material changes to the critical accounting estimates[223]