Vince

‘Black Rabbit’ review: Dysfunctional brothers on the brink of disaster

Far be it from me to tell anyone how to direct their career, but can I just say how glad I am to learn that Jason Bateman, who spent four seasons in the darkness of “Ozark,” is making a comedy again. (A “dark comedy,” but still.) That’s not the series he’s starring in at the moment for Netflix, however, but something called “DTF St. Louis,” for HBO, from “Patriot” creator Steve Conrad, which isn’t arriving until next year. Fingers crossed, we’ll all be around to see it.

In the eight-episode miniseries “Black Rabbit,” which premieres Thursday, Bateman and Jude Law play brothers Vince and Jake Friedkin, respectively, who long before the story begins were partners in a rock band, the Black Rabbits — successful enough that Vince is recognized in a bar (but not so successful that the fans can remember his name, or the name of the band). More recently, they had been partners in a far downtown Manhattan restaurant, also called Black Rabbit, though Vince’s level of current participation is muddy. (At one time, he ran the upstairs bar.) It isn’t a comedy, in spite of Vince’s Michael Bluth-like habit of dropping ironic quips into stressful situations.

The setting brings to mind “The Bear” — which is a comedy — as does its young genius chef, Roxie (Amaka Okafor); the New York Times is planning a review and New York magazine is putting her on the cover. We see that the restaurant, which has a VIP floor upstairs for horrible rich jerks, is a hit because the place is packed, and because there’s a lot of shouting in the barely pictured kitchen, but food, barely shown or talked about, is not really on the menu here. Jake is more interested in property and expansion — he has an inside track to lease the Pool Room, a real-life space in New York’s fabled Four Seasons Hotel, and he wants Roxie to run the kitchen and Estelle (Cleopatra Coleman), who is in a relationship with his old friend Wes (Ṣọpẹ́ Dìrísù) — now a mega successful musician, a co-owner of the Black Rabbit and a jealous guy — to design it. From camera angles and cutting, it’s clear that Vince and Estelle are attracted to one another, but as Law and Coleman have no particular chemistry, it feels more stated than felt. But it’s important.

A man in pink suit and woman in a blue shirt and apron sit together.

Ṣọpẹ́ Dìrísù as Wes, a co-owner of the Black Rabbit, and Amaka Okafor as Roxie, the head chef.

(Netflix)

Vince, meanwhile, is living out west, looking like he’s ready to audition for a late-life Dennis Wilson biopic and trying to sell some valuable old coins. When he’s set up and robbed in his car, he winds up running over one of the thieves — twice. Whether by writerly intention or inattention, this will be no more of an emotional issue for Vince than it will have anything to do with the rest of the story, apart from sending him back to NYC, where he is $140,000 in the hole over gambling debts. Whenever he’s not in actual danger (which is a lot of the time), he’s weirdly happy-go-lucky.

Jake has a well-to-do ex-wife, Val (Dagmara Dominczyk), who seems nice, and a son, Hunter (Michael Cash), taking dancing lessons. They all get along fine, though Jake battles that most common of TV paternal ailments, Busy Dad Syndrome. (He does better than most.) Vince has an adult daughter, tattoo artist Gen (Odessa Young), who is not especially glad to see him back in town. Their safety will become a chip in the series’ central business, which sets Vince, and ultimately Jake, against vaguely defined mobster Joe Mancuso (Oscar-winning deaf actor Troy Kotsur, from the film “CODA,” in one of the series’ more layered performances); his sweaty idiot caricature of a wannabe tough guy son, Junior (Forrest Weber); and Junior’s less-than-efficient minder, Babbitt (Chris Coy), who is occasionally sort of likable, albeit one feels bad for sort of liking him. In the small world these characters inhabit, Mancuso was close to the brothers’ dysfunctional family back in Coney Island. But business is business.

Like most every streaming drama nowadays, “Black Rabbit” opens with a flash forward to a more exciting part of the story — here, a robbery and shooting at a crowded party — before dialing back to a calmer chronological beginning. This lets the viewer know that, though there is going to be exposition for a while, things will get crazy eventually. And they very much do, including sexual assault, murder and bad management.

Three men walking down a New York street.

Junior (Forrest Weber), Babbitt (Chris Coy) and Vince (Jason Bateman), who owes them lots of money.

(Netflix)

Jake, chasing his Pool Room dream, has his own money troubles, and the brothers’ needs will clash as one scheme after another to set things right goes wrong and their relationship rockets between heated arguments and brotherly reminiscence. It’s too easy to stop listening to the arguments, which tend to go long and not lead anywhere, but there is some relief (and nice writing) as regards the reminiscence. Still, though later episodes will reveal an early event that might explain something about Vince, it’s not enough to make one care especially what happens to them, except to worry which innocent bystanders, including the Black Rabbit staff, will be hit by shrapnel when things go boom.

A large secondary and sometimes confusing cast comes in and out to propel and complicate matters, but it’s really all about the brothers. As Vince, Bateman — who also directed the first two episodes, efficiently, with “Ozark” co-star Laura Linney helming the second two — leavens an exasperating character with his innate likability. He’s a fine actor, but he’s also Jason Bateman, America’s sweetheart. By contrast, as the tense, excitable Jake, Law doesn’t generate much warmth, or make you believe he’s actually capable of opening a high-class midtown restaurant. (The funky but chic Black Rabbit was Vince’s vision.) That may be the idea, of course. And he does love his brother.

There are only so many ways this story can go, and it does indeed go to one of them, though it’s so likely by the time we get there that it doesn’t deliver much of an emotional charge. An epilogical montage, in a complete tonal turnaround, plays like an homage to the opening of Woody Allen’s “Manhattan,” cut to Rodgers and Hart’s “I’ll Take Manhattan”; its only purpose seems to be to make you less bad than you might have otherwise felt. (Hey, Katz’s Delicatessen!) So … thanks?

Meanwhile — “DTF St. Louis!” See you next year! Knock wood.

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Vince Grows Margins as DTC Sales Rise

Vince(VNCE 94.33%) reported second quarter fiscal 2025 earnings on August 6, 2025. Net sales reached $73.2 million, down 1.3% year-over-year (YoY), while adjusted net income excluding a one-time employee retention credit was $4.9 million ($0.38 per share), supported by a 300 basis point year-over-year gross margin improvement and strong direct-to-consumer (DTC) sales growth of 5.5%. This summary provides singular insights on margin expansion, supply chain risk management, and multi-channel execution, all critical to the long-term investment thesis. For reference, the second quarter fiscal 2025 period ended July 31, 2025.

Gross margin expands as Vince mitigates tariffs

Gross profit increased from $35.1 million to $36.9 million compared to the second quarter fiscal 2024, with gross margin expanding 300 basis points to 50.4% compared to the second quarter fiscal 2024, despite higher tariffs and freight costs. This margin strength resulted from a combination of strategic pricing, reduced discounting, and improved product cost management, against a backdrop of a less favorable macro environment for apparel manufacturers.

“Gross profit in the second quarter was $36.9 million or 50.4% of net sales. This compares to $35.1 million or 47.4% of net sales in the second quarter of last year. The increase in gross margin rate was primarily driven by approximately 340 basis points due to the favorable impact of lower product costing and higher pricing, approximately 210 basis points due to favorable impact of lower discounting, partially offset by approximately 170 basis points due to higher tariffs and 100 basis points due to higher freight costs.”
— Yuji Okumura, Chief Financial Officer

Effective margin management demonstrates that Vince’s value proposition and pricing power help offset inflationary and regulatory headwinds.

Vince rapidly diversifies supply chain to curb concentrated risk

In fiscal 2024, the company sourced approximately 80% of its products from China, with aggressive initiatives under way to cap exposure to any single country at 25% by the 2025 holiday season. Such rapid supply chain adaptation is notable given persistent apparel industry vulnerabilities to shifting tariffs and global sourcing disruptions.

“So the product that’s hitting the floor now fall, that really wasn’t impacted. I mean, that was already produced. That was kind of the stuff that was being held. It’s really as we get the prespring or holiday, where we made a lot of the movement. And as we mentioned before, it’s somewhat less about China now because these tariffs keep moving around. It’s really more about not being overexposed in any one country. And, you know, we’re targeting 25% to kinda be that cap in terms of any one country, and I think we’ll get there, for holiday and certainly as we get into spring.”
— Brendan Hoffman, Chief Executive Officer

Vince is shifting to a multi-country sourcing strategy to limit exposure to any single country, targeting a 25% cap per country.

DTC sales growth offsets wholesale softness for Vince

The DTC segment posted 5.5% year-over-year growth, propelled by both retail and ecommerce, even as the wholesale channel declined 5.1% year-over-year due to temporary shipment delays. Store investments, including remodels and new locations in Nashville and Sacramento, target underpenetrated regions and support omnichannel growth strategy.

“With respect to channel performance, our direct to consumer segment increased 5.5% with both our ecommerce and store channels contributing to the growth. This was offset, however, by a 5.1% decline in our wholesale segment as full shipments went out later than the prior year as tariff mitigation strategies pushed the timing of receipts back by approximately three weeks. Despite the impact on the top line, the delays in our supply chain enabled us to elongate our spring selling season, contributing to strong gross margin performance for the quarter.”
— Yuji Okumura, Chief Financial Officer

Looking Ahead

Management guides to net sales flat to low single digit year-over-year growth for the third quarter fiscal 2025, operating income margin between 1% and 4%, and adjusted EBITDA margin (non-GAAP) between 2% and 5%. Planned reinvestments in marketing and retail initiatives, along with anticipated incremental tariff costs of approximately $4 million to $5 million (with half expected to be mitigated), temper the margin outlook for the back half of fiscal 2025. No additional new store openings are scheduled beyond Sacramento in October 2025.

This article was created using Large Language Models (LLMs) based on The Motley Fool’s insights and investing approach. It has been reviewed by our AI quality control systems. Since LLMs cannot (currently) own stocks, it has no positions in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.

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