We are reiterating our Buy rating, $4 price target and projections after visiting Vince stores in Connecticut, Long Island and New Jersey. We believe, while Vince continues to tweak the flow of goods due to tariffs, the offerings remain highly relevant and fresh and highlight a strong fashion sense, with continued expansion of the overall offerings (in terms of color and utility) and high overall quality. Further, we believe, except for a core of weekly shoppers, the Vince customer is still seeing multiple levels of newness and excitement when they visit the store; as management noted, slightly longer seasons have driven even higher levels of full price shopping. As such, we remain upbeat on the longer term business model at Vince and reiterate our Buy rating for VNCE.