Vera Bradley Earnings: Here’s Why the Stock is Falling Now
Vera Bradley, Inc. (NASDAQ:VRA) delivered a profit and beat Wall Street’s expectations, AND beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company. Shares are down 10%.
Vera Bradley, Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased 12.12% to $0.37 in the quarter versus EPS of $0.33 in the year-earlier quarter.
Revenue: Rose 1.92% to $125.4 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Vera Bradley, Inc. reported adjusted EPS income of $0.37 per share. By that measure, the company beat the mean analyst estimate of $0.32. It beat the average revenue estimate of $124.51 million.
Quoting Management: “We managed through considerable headwinds in the second quarter, yet delivered results in line with our expectations,” said Michael C. Ray, Vera Bradley’s Chief Executive Officer. “Nonetheless, our product offering underperformed in the midst of an uncertain consumer environment, which affected traffic in our retail stores. While we are encouraged by our strategic progress and remain optimistic about our long-term prospects, we continue to have a cautious outlook for the remainder of the year.”
Key Stats (on next page)…