Vera Bradley Down 10.55% To $6.36 After Earnings Miss

Wednesday, March 13, 2024 - Vera Bradley (VRA) reported downside earnings and revenues today.

Vera Bradley's earnings came in at an EPS of $0.11 per share, 21% lower than estimates for an EPS of $0.14 per share. The firm's earnings are down 31% since reporting $0.16 per share in the same period a year ago. Remember, earnings reported were on an adjusted basis, so they may not be comparable to prior reports and/or analyst estimates.

Revenues were downbeat at $133.3 million. That represents a 9.40% decrease in revenues from the year-ago report and is 2.05% lower than consensus estimates set at $136.1 million.

The stock is down 10.55% to $6.36 after the report.

Vera Bradley's profit margins took a hit as earnings fell at a faster pace than revenues.

The average recommendation from Wall Street analysts was a Strong Buy which may get revised based on this new data.

Trading in the five days leading up to the report earned Vera Bradley a Bearish Sentiment Rank from InvestorsObserver.

Prior to the report, InvestorsObserver gave the stock an overall score of 61. Meanwhile, the average Wall Street analyst rated the stock a Strong Buy.

Vera Bradley Inc designs women's handbags, travel items, and accessories. Each category comprises a substantial component of total sales, with the bags category comprising the Most. Most of the company's sales are made directly to customers through Vera Bradley's retail stores and e-commerce sites. The company also has a substantial wholesale business selling to specialty retail and department stores. Almost all company sales are in the United States. Vera Bradley uses third-party manufacturers in Asia to produce its product, and the company distributes the product through its distribution center in Indiana.