$VRA (Vera Bradley, Inc.)

$VRA {{ '2016-06-01T12:25:47+0000' | timeago}} • Announcement

Handbag and accessories company $VRA reported a 1Q17 profit of $2.42MM or $0.06 per share compared to a loss of $4.14MM or $0.10 per share last year, driven by sourcing and operational efficiencies and an increased sales penetration of higher-margin made-for-outlet products. Revenues rose 4% to $105.18MM.

$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.

$VRA {{ '2017-03-08T13:33:06+0000' | timeago}} • Announcement

Apparel and accessory retailer $VRA reported a 78% YoY drop in its 4Q17 earnings to $3.5MM, or $0.09 per diluted share, , hurt by higher after-tax impairment charges related to underperforming stores. Excluding these charges, the company's earnings fell 39% YoY to $0.28 per share. Revenue declined 12.5% YoY to $134.8MM.

$VRA {{ '2016-12-08T15:39:38+0000' | timeago}} • Announcement

$VRA entered into 3 additional licensing agreements in areas of home, hosiery, and swim. The company previously announced licensing arrangements for stationery and publishing. $VRA will work with licensing partners in development and final approval of all product designs. This will not have a material impact on its performance for FY17 and FY18.

$VRA {{ '2016-12-07T15:37:34+0000' | timeago}} • Webcast

$VRA said its full-price stores have been improving in comps quarter after quarter. This gives the company confidence in its long-term strategies. The factory channel has been getting softer relative to previous levels. The pressure seen in the macro environment and the outlet channels has not been seen in the full line.

$VRA {{ '2016-12-07T15:25:30+0000' | timeago}} • Webcast

$VRA has about 2,600 accounts in the specialty channel and a lot of the reduction continues to be from a comp perspective and from destocking. The company is struggling to stabilize this weakness. $VRA has seen some stabilization and comp growth from some big accounts but this trend has not been seen throughout the chain.

$VRA {{ '2016-12-07T15:11:53+0000' | timeago}} • Webcast

$VRA announced three licensing deals for Bedding, Hosiery and Swim in addition to the Stationery and Publishing licenses. The revenue and net income implications of these deals are not material in the current year or next year. The company opened its SoHo and Hawaii full-line stores in 3Q17, bringing the full-line store count to 114.

$VRA {{ '2016-12-07T14:56:37+0000' | timeago}} • Webcast

For 3Q17, $VRA’s Direct segment revenues were $86.1MM, up 2.3% over 3Q16. Indirect segment revenues decreased 4.6% to $40.6MM, primarily due to lower orders from the company's specialty retail accounts, partially offset by higher sales to certain department stores and non-department store key accounts.

$VRA {{ '2016-12-07T14:52:34+0000' | timeago}} • Webcast

In 3Q17, $VRA’s diluted EPS was modestly below the guidance range largely due to continued weakness in the specialty channel and incremental promotional activity in the factory stores. Verabradley.com sales were below expectations, primarily due to reduced levels of retirement product.

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