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Subsequent Event
6 Months Ended
Aug. 03, 2024
Subsequent Events [Abstract]  
Subsequent Event

Note 15. Subsequent Event

On September 16, 2024, the Company announced that its Board of Directors has authorized a stock repurchase program of up to $1 million of VNCE common stock, par value $0.01 per share. The stock repurchase program does not obligate the Company to acquire any particular amount of common stock, and it may be modified, extended or terminated by the Board of Directors at any time. The Company expects to fund the repurchases through cash on hand and future cash flow from operations.

Under the stock repurchase program, the Company may repurchase shares of common stock from time to time in open market transactions or in privately negotiated transactions as permitted under applicable rules and regulations of the Securities and Exchange Commission and subject to market conditions and other relevant factors. Open market repurchases will be conducted in accordance with the limitations set forth in Rule 10b-18 under the Securities Exchange Act of 1934, as amended (the "Exchange Act"), and applicable legal requirements. The timing, volume and nature of such purchases will be determined at the sole discretion of the Company's management at prices the Company considers attractive and in the best interests of the Company, subject to the availability of stock, general market conditions, trading price, alternate uses for capital, the Company's financial performance, both present and anticipated, and to partially offset dilution from events such as vesting of stock-based compensation and secondary offerings and/or distribution of stock by our majority stockholder, as well as applicable securities laws. No assurance can be given that any particular amount of common stock will be repurchased. All or some portion of the repurchases may be made pursuant to trading plans under Rule 10b5-1 under the Exchange Act, which will permit shares to be repurchased when the Company might otherwise be precluded from doing so because of self-imposed trading blackout periods or other regulatory restrictions.