earnings
confidence high
sentiment negative
materiality 0.75
Vera Bradley Q1 net loss $0.21/sh on rev $98.5M (down 10% YoY); guides FY rev $490-505M
Vera Bradley, Inc.
2023-Q1 EPS reported
-$0.21
revenue$98,459,000
- Consolidated net revenues $98.5M, down from $109.1M YoY; net loss $7.0M ($0.21 diluted).
- Pura Vida revenues fell 26.8% YoY to $19.8M; Vera Bradley Direct comparable sales down 11.1%.
- Company lowers FY2023 guidance: net revenues $490-505M (from $540.5M in FY2022); diluted EPS $0.35-$0.50.
- Cost reduction initiative targeting $15-$25M annual savings; repurchased $10.5M of stock in Q1.
- Gross margin 53.3% vs 54.2% YoY, pressured by freight; SG&A flat at $60.9M.