Vince Holdings announced on Wednesday sales for the second quarter fell 1.3% to $73.2 million, hurt by declining wholesale revenues, as the U.S. fashion firm boosted profits during the quarter.

The New York-based company said the decline in the wholesale segment, which fell 5.1% to $44.8 million, followed a shift in timing of fall shipments, impacted by an "earlier uncertainty with respect to tariff policies and impact," according to a press release.

Direct-to-consumer sales at the luxury fashion brand grew 5.5% to $28.5 million during the quarter ending Aug 2.

Despite the sales drop, net income grew to $12.1 million or $0.93 per diluted share, surging from net income of $0.6 million or $0.05 per diluted share in the same period last year.

"We are very proud of our second quarter perf

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