$VRA (Vera Bradley, Inc.)

$VRA {{ '2016-09-01T12:43:28+0000' | timeago}} • Announcement

$VRA still expects FY17 selling, general and administrative expenses as percentage of net revenue of 47.3-47.5% and net capital spending of about $20MM. The company predicts diluted weighted-average shares outstanding of 36.9MM and an effective tax rate of 37.6%.

$VRA {{ '2017-08-30T17:36:28+0000' | timeago}} • Webcast

$VRA said its Vision 20/20 initiatives are expected reduce annual SG&A spending by up to $30MM from baseline FY17 levels, excluding severance. The company added that certain cost reductions have already begun and are reflected in the FY18 SG&A guidance.

$VRA {{ '2017-08-30T17:13:32+0000' | timeago}} • Webcast

Beatrice Mac Cabe has been appointed as $VRA's Chief Creative Officer. Barbara Bradley Baekgaard, a founder of the company, will take a smaller role to pursue other projects. Meanwhile, EVP of Marketing, Theresa Palermo, is leaving the company, and Stephanie Scheele was named interim CMO.

$VRA {{ '2017-08-30T12:57:27+0000' | timeago}} • Announcement

On $VRA's 'Vision 20/20', CEO Robert Wallstrom said, "Our ultimate goal is to restore brand and company health by methodically moving to a less clearance-driven business model and reducing our SG&A expenses." $VRA expects annualized revenues to be negatively impacted by these initiatives by $40-60MM in FY19.

$VRA {{ '2017-08-30T12:46:14+0000' | timeago}} • Announcement

For FY18, $VRA expects net revenues of $460-470MM, compared to $485.9MM last year. Diluted EPS is projected to be between $0.44 and $0.50, compared to $0.53 in FY17.

$VRA {{ '2017-08-30T12:43:28+0000' | timeago}} • Announcement

For 3Q18, $VRA expects net revenues of $112-117MM, compared to prior-year third quarter revenues of $126.7MM. EPS is predicted to be between $0.13 and $0.15, compared to 3Q17 EPS of $0.24.

$VRA {{ '2017-08-30T12:34:41+0000' | timeago}} • Announcement

$VRA's comparable sales declined 4% and e-commerce sales fell 4.9% in 2Q18, due to lower traffic. Meanwhile, the bag-maker said it opened two full-line and five factory outlet stores during the past 12 months.

$VRA {{ '2017-08-30T12:25:05+0000' | timeago}} • Announcement

Bag-maker $VRA posted lower revenue and net income in 2Q18, hurt by headwinds in the retail industry. Net income more-than-halved to $2.2MM, or $0.06 per share, as revenue slipped 6% to $112.4MM. On a non-GAAP basis, the company earned $0.13 per share, lower than $0.18 per share it reported in the same quarter last year.

$VRA {{ '2017-07-18T20:39:57+0000' | timeago}} • Announcement

$VRA announced that John Enwright has been named EVP and CFO, effective immediately.

$VRA {{ '2017-05-31T14:28:28+0000' | timeago}} • Webcast

$VRA is targeting certain stores which are cash flow negative and believes the operating income profile of the company will be enhanced as these stores are closed. The company opened its Soho store to improve the Vera Bradley brand and it is watching the growth in this area.

$VRA {{ '2017-05-31T14:13:04+0000' | timeago}} • Webcast

For 2Q18, $VRA expects Direct segment net revenues to be relatively flat to up low single digits compared to last year, including a comparable sales decrease (including e-commerce) in the low mid single digit percentage range. The company believes the Indirect segment net revenues will be down by 20-25%.

$VRA {{ '2017-05-31T14:05:51+0000' | timeago}} • Webcast

$VRA's gross margin for 1Q18 was 54.8% compared to 56.7% last year. The 190BP decline primarily related to channel mix changes and increased promotional activity in the factory stores which also caused gross margin to fall modestly below the low end of the guidance range of 55-55.5%.

$VRA {{ '2017-05-31T12:43:29+0000' | timeago}} • Announcement

During 1Q18, $VRA repurchased approx $1.2MM worth of its common stock.  The company has approx $20.1MM remaining under its share repurchase authorization.

$VRA {{ '2017-05-31T12:41:27+0000' | timeago}} • Announcement

For 2Q18, $VRA expects net revenues of $111-115MM, compared to 2Q17 revenues of $119.2MM. Diluted EPS is predicted to be in the range of $0.09-0.11. For FY18, $VRA expects net revenues of $460-480MM, compared to $485.9MM last year. Diluted EPS is expected between $0.40 and $0.50.

$VRA {{ '2017-05-31T12:36:07+0000' | timeago}} • Announcement

In 1Q18, $VRA's Direct segment revenues totaled $68.8MM, down 5.6% YoY, while comparable sales (including e-commerce) decreased 12.5%. Meanwhile, Indirect segment revenues decreased 15.3% to $27.3MM, reflecting a reduction in the number of specialty accounts as well as reduction in orders.

$VRA {{ '2017-05-31T12:30:56+0000' | timeago}} • Announcement

Bag-maker $VRA reported its first quarterly loss in 1Q18 after seven consecutive quarters of profits, hurt by challenging environment in the retail segment. The company posted a loss of $4MM, or $0.11 per share, compared to a profit of $2.4MM, or $0.06 per share a year ago. Excluding items, net loss was $0.09 per share. Revenue fell 8.5% to $96MM.

$VRA {{ '2017-04-18T17:56:19+0000' | timeago}} • Announcement

Accessories and lifestyle brand $VRA has entered into a licensing agreement with CID Resources Inc. for apparel and coordinating accessories designed specifically for female health care professionals. The health care professionals' collection is expected to launch in spring 2018.

$VRA {{ '2017-03-08T18:58:57+0000' | timeago}} • Webcast

$VRA is very much focused on digital space currently, and believes the relaunch of verabradley.com will drive future growth. The company said that its marketing campaign that kicked off in 1Q18 will be a key positive catalyst in driving better performance in back half of the year.

$VRA {{ '2017-03-08T18:45:42+0000' | timeago}} • Webcast

$VRA said it will relocate or close up to 15 targeted underperforming full-line stores as leases expire or by negotiating early exits over the next two years. The company also plans to open approx. six new factory stores in FY18 with three in 1Q18.

$VRA {{ '2017-03-08T18:29:52+0000' | timeago}} • Webcast

$VRA said comparable sales, including e-commerce, decreased 7% for fiscal year 2017, mainly due to the year-over-year declines in store and e-commerce traffic. E-commerce and full-line store sales were also negatively impacted by lower levels of promotional activity in 1H17.

$VRA {{ '2017-03-08T13:38:43+0000' | timeago}} • Announcement

$VRA expects net revenue of $94-99MM for 1Q18 and $460-480MM for FY18. For 1Q18, the company expects diluted loss per share in the range of $0.11-0.14 and expects diluted EPS in the range of $0.40-0.50 for FY18. Net capital spending to be $10-15MM for FY18, compared to $20.8MM in the prior year.

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