secwatch.observer — SEC 8-K summary
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Issuer:     Vera Bradley, Inc. (VRA)
CIK:        0001495320
Form:       8-K
Filed at:   2022-08-31T23:59:59+00:00
Accession:  0001495320-22-000033
Event type: earnings
Sentiment:  negative
Materiality: 0.80
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Vera Bradley Q2 net loss $29.8M; cuts FY23 revenue guidance to $480-490M
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- Q2 consolidated net revenues $130.4M (down 11.3% YoY); net loss ($29.8M) or ($0.95)/diluted share; non-GAAP net income $2.4M ($0.08)/share.
- Pura Vida segment revenue fell 21.3% to $26.0M; recorded $18.2M goodwill and intangible impairment, driving overall net loss.
- Initiated $25M annual cost reduction program; FY2023 guidance cut: revenues $480-$490M (vs $540.5M prior year), diluted EPS $0.20-$0.28 (vs $0.57 prior).
- Q2 comparable sales at Vera Bradley Direct declined 13.8%; gross margin compressed to 46.4% (52.0% non-GAAP) due to freight and overhead.
- Cash and equivalents $38.3M, no debt; completed $6.0M share repurchases in Q2, $29.3M remaining under authorization.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1495320/000149532022000033/0001495320-22-000033-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1495320/000149532022000033/vra-20220831.htm
  HTML page:      https://secwatch.observer/filing/0001495320-22-000033

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