Consolidated net revenues totaled $222.5 million for the current year six months ended July 29, 2023, compared to $228.8 million in the prior year six month period ended July 30, 2022. Second quarter consolidated SG&A expense totaled $59.4 million, or 46.3% of net revenues, compared to $74.0 million, or 56.8% of net revenues, in the prior year. On a non-GAAP basis, consolidated SG&A expense totaled $58.3 million, or 45.5% of net revenues, compared to $64.0 million, or 49.1% of net revenues, in the prior year.
That means you want to buy stocks with a Zacks Rank #1 or #2, Strong Buy or Buy, which also has a Score of an A or a B in your personal trading style. The scores are based on the trading styles of Value, Growth, and Momentum. There’s also a VGM Score (‘V’ for Value, ‘G’ for Growth and ‘M’ for Momentum), which combines the weighted average of the individual style scores into one score.
Style is calculated by combining value and growth scores, which are first individually calculated. Our Quantitative Research team models direct competitors or comparable companies
from a bottom-up perspective to find companies describing their business in a
similar fashion. Meanwhile, Vera Bradley shares jumped after the fashion specialist posted surprisingly strong quarterly results. Data are provided ‘as is’ for informational purposes only and are not intended for trading purposes. Data may be intentionally delayed pursuant to supplier requirements.
The retailer reported earnings, which were fine on the top line, but not so great on the bottom. We routinely post important information for investors on our website in the «Investor Relations» section. We intend to use this webpage as a means of disclosing material, non-public information and for complying with our disclosure obligations under Regulation FD. Accordingly, investors should monitor the Investor Relations section of our website, in addition to following our press releases, SEC filings, public conference calls, presentations and webcasts.
After each calculation the program assigns a Buy, Sell, or Hold value with the study, depending on where the price lies in reference to the common interpretation of the study. For example, a price above its moving average is generally considered an upward trend or a buy. Margins continued to improve for the handbags and accessories company. So far today, approximately 114.07k shares of Vera Bradley, Inc. have been exchanged, as compared to an average 30-day volume of 179.47k shares. This current average has increased by 8.82% from the previous average price target of $8.50.
The industry with the best average Zacks Rank would be considered the top industry (1 out of 265), which would place it in the top 1% of Zacks Ranked Industries. The industry with the worst average Zacks Rank (265 out of 265) would place in the bottom 1%. An industry with a larger percentage of Zacks Rank #1’s and #2’s will have a better average Zacks Rank than one with a larger percentage of Zacks Rank #4’s and #5’s.
Vera Bradley Shareholder
This suggests a possible upside of 37.9% from the stock’s current price. View analysts price targets for VRA or view top-rated stocks among Wall Street analysts. 1 Wall Street research analysts have issued «buy,» «hold,» and «sell» ratings for Vera Bradley in the last twelve months. The consensus among Wall Street research analysts is that investors should «buy» VRA shares. “Total second quarter revenues for the Vera Bradley brand were down 1.2% from last year,” Ardrey commented. “Vera Bradley Direct revenue declines resulted from store closures over the last year, while we saw a small comparable store gain in our full line stores.
- Vera Bradley Indirect segment revenues for the six months totaled $32.7 million, a 4.6% decrease from $34.3 million last year.
- Store sales remained strong, and we began to realize the benefits of changes in our performance-based marketing program.
- The successful return of the Vera Bradley Annual Outlet Sale offset weakness we experienced in our factory outlet stores in addition to compensating for the elimination of one online outlet sale during the quarter.
- The consensus among Wall Street research analysts is that investors should «buy» VRA shares.
Zacks Ranks stocks can, and often do, change throughout the month. Certain Zacks Rank stocks for which no month-end price was available, pricing information was not collected, or for certain other reasons have been excluded from these return calculations. Consolidated gross profit for the six months totaled $123.8 million, or 55.6% of net revenues, compared to $113.0 million, or 49.4% of net revenues, in the prior year.
The increasing inclination of the younger population towards fashion trends and the increased adoption of social media platforms is expected to drive growth in the fashion market. VRA said late Tuesday that is embarking on a reorganization, aiming to cut costs by an additional $12 million and replacing its chief financial officer. Zacks Earnings ESP (Expected Surprise Prediction) looks to find companies that have recently seen Estrategias de inversion positive earnings estimate revision activity. The idea is that more recent information is, generally speaking, more accurate and can be a better predictor of the future, which can give investors an advantage in earnings season. The Zacks Industry Rank assigns a rating to each of the 265 X (Expanded) Industries based on their average Zacks Rank. As an investor, you want to buy stocks with the highest probability of success.
The successful return of the Vera Bradley Annual Outlet Sale offset weakness we experienced in our factory outlet stores in addition to compensating for the elimination of one online outlet sale during the quarter. The remainder of our e-commerce sales continued to perform well. Lastly, Vera Bradley Indirect revenues were up slightly to last year. Vera Bradley Inc. stock fell 4.3% in Wednesday premarket trading after it missed revenue and profit expectations and gave guidance below Street expectations. The jewelry and accessories company posted net income of $5.2 m… For the six months, consolidated SG&A expense totaled $117.9 million, or 53.0% of net revenues, compared to $135.0 million, or 59.0% of net revenues, in the prior year.
On a non-GAAP basis, prior year gross profit totaled $120.3 million, or 52.6% of net revenues. Vera Bradley Direct segment revenues for the current year six-month period totaled $144.6 million, a 2.7% decrease from $148.6 million in the prior year. Second quarter consolidated gross profit totaled $72.0 million, or 56.2% of net revenues, compared to $60.5 million, or 46.4% of net revenues, in the prior year. On a non-GAAP basis, prior year gross profit totaled $67.8 million, or 52.0% of net revenues.
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- In this release, Vera Bradley, Inc. or “the Company” refers to the entire enterprise and includes both the Vera Bradley and Pura Vida brands.
- On average, they predict the company’s share price to reach $10.00 in the next year.
- Analysts usually derive their information from company conference calls and meetings, financial statements, and conversations with important insiders to reach their decisions.
- For the six months, consolidated SG&A expense totaled $117.9 million, or 53.0% of net revenues, compared to $135.0 million, or 59.0% of net revenues, in the prior year.
Adjusted earnings per share, meanwhile, increased from $0.08 to $0.33. For the quarter, which ended July 29, revenues slipped 1.7% to $128.2 million as sales at Pura Vida, its recently acquired bracelet brand, https://investmentsanalysis.info/ were down 3.6%, and Vera Bradley sales dipped 1.2% due to store closures. Net capital spending for the six months ended July 29, 2023 totaled $1.7 million compared to $4.4 million in the prior year.
Vera Bradley earnings miss as lower-income customers pull back on spending due to inflation
Management lowered its outlook to reflect two new pressures on sales and earnings. Founded in 1993 by brothers Tom and David Gardner, The Motley Fool helps millions of people attain financial freedom through our website, podcasts, books, newspaper column, radio show, and premium investing services. Vera Bradley Inc. said late Thursday that President and Chief Executive Officer Robert Wallstrom plans to retire, remaining in his roles until a successor is named. Vera Bradley Inc. said Tuesday that it has named Jacqueline Ardrey as its new president and chief executive, following the retirement of Rob Wallstrom. Wallstrom, who announced his intention to retire in July, will remain…
The company is scheduled to release its next quarterly earnings announcement on Wednesday, December 6th 2023. Following the success of last year’s popular collection, the iconic brands launch two new sets of Tupperware food and beverage products featuring unique Vera Bradley designs, just in time for summer a… VRA’s beta can be found in Trading Information at the top of this page. A stock’s beta measures how closely tied its price movements have been to the performance of the overall market. Style is an investment factor that has a meaningful impact on investment risk and returns.