Vera Bradley posts Q4 loss
Consolidated net revenues at Vera Bradley, Inc. were 147.1 million dollars for the fourth quarter compared to 149.6 million dollars in the prior year fourth quarter.
The company’s net loss for the quarter was 28.2 million dollars or 91 cents per diluted share. On a non-GAAP basis, net income totaled 5 million dollars or 16 cents per diluted share.
Commenting on the company’s results, Jackie Ardrey, chief executive officer of Vera Bradley said: “In the fourth quarter, sales trends at both Vera Bradley and Pura Vida improved over prior quarters, with Vera Bradley total sales down just 1 percent and Pura Vida sales down less than 5 percent on a year-over-year basis.”
Vera Bradley revenues decline in fiscal 2023
Consolidated net revenues were 500 million dollars for fiscal 2023 compared to 540.5 million dollars in the previous year.
For the current fiscal year, Vera Bradley, Inc.’s consolidated net loss totaled 59.7 million dollars or 1.90 dollars loss per diluted share. On a non-GAAP basis, the company’s consolidated net income totaled 7.6 million dollars or 24 cents per diluted share.
For fiscal 2024, the company expects consolidated net revenues of 490 dollars to 510 million dollars. Net revenues totaled $500.0 million in Fiscal 2023. Both Vera Bradley and Pura Vida revenues are expected to be approximately flat on a year-over-year basis.
A consolidated gross profit percentage is expected of 52.6 percent to 53.6 percent compared to 51.4 percent in fiscal 2023. Consolidated operating income is expected to be 17.3 dollars to 21.7 million dollars compared to 12.3 million dollars in fiscal 2023. Consolidated diluted EPS is expected to range between 40 cents to 50 cents compared to 24 cents last year.