Vera Bradley Q1 net loss narrows to $4.7M; raises FY2024 EPS guidance to $0.57-$0.67

Vera Bradley, Inc.

2024-Q1 EPS reported -$0.15 revenue$94,362,000

Consolidated net revenues $94.4M (-4.2% YoY); GAAP net loss ($4.7M) or ($0.15)/share vs. ($7.0M) or ($0.21) prior year.
Non-GAAP net loss ($2.6M) or ($0.09)/share; gross margin expanded to 54.8% from 53.3% on lower freight and inventory sell-through.
New CFO Michael Schwindle joined May 8; company announced $12M annualized savings including elimination of ~25 corporate positions.
FY2024 guidance raised: rev $490-510M, op income $24-28M, diluted EPS $0.57-$0.67, free cash flow $35-40M.
Balance sheet: $25.3M cash, no debt, inventories down 11.8% YoY; $0.7M shares repurchased in Q1.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Vera Bradley, Inc. reported the quarterly period ended April 29, 2023 results: revenue $94.4 million, net income ($4.7) million, or ($0.15) per diluted share, EPS ($0.15) per diluted share. Guidance raised.

Period: the quarterly period ended April 29, 2023
Revenue: $94.4 million
Net income: ($4.7) million, or ($0.15) per diluted share
EPS: ($0.15) per diluted share
Guidance: raised
Result: reported results

Exact text from the filing

Consolidated net revenues totaled $94.4 million compared to $98.5 million in the prior year first quarter ended April 30, 2022. For the current year first quarter, Vera Bradley, Inc.'s consolidated net loss totaled ($4.7) million, or ($0.15) per diluted share.

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Source: SEC EDGAR

accession 0001495320-23-000033

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