Vera Bradley 2Q Profit, Rev Decline as Pressure on Customers Continues

Dow Jones09-11

By Denny Jacob

Vera Bradley posted lower profit and sales in its latest quarter as macroeconomic headwinds continued to pressure customers, prompting the company to lower its outlook for the year.

The purveyor of quilted bags and accessories logged net income of $5.71 million, or 19 cents a share, for the second quarter ended Aug 3, down from $9.25 million, or 30 cents a share, a year earlier. Adjusted earnings were 13 cents a share.

Revenue declined to $110.8 million from $128.2 million.

"Our results for the period were also influenced by stubbornly persistent macro consumer headwinds that masked key successes across several areas of our business turnaround," said Chief Executive Jackie Ardrey.

For fiscal 2025, Vera cut its forecast to revenue of around $410 million and earnings per-share of about 10 cents. It previously forecast revenue between $460 million and $480 million and earnings per-share of 54 cents to 62 cents.

"We are prudently planning the second half through a more conservative lens," added Ardrey.

Shares tumbled 14% to $4.28 in premarket trading. The stock is down 35% on the year through Tuesday's close.

Write to Denny Jacob at denny.jacob@wsj.com

(END) Dow Jones Newswires

September 11, 2024 08:33 ET (12:33 GMT)

Copyright (c) 2024 Dow Jones & Company, Inc.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap

Leave a comment

{"i18n":{"language":"en_US"},"isChannel":false,"data":{"share":"https://ttm.financial/m/news/2466264285?lang=en_US&edition=fundamental","thumbnail":"","is_english":true,"pubTime":"2024-09-11 20:33","share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","id":"2466264285","market":"us","top_or_hot":-1,"title":"Vera Bradley 2Q Profit, Rev Decline as Pressure on Customers Continues","media":"Dow Jones","content":"<font class=\"NormalMinus1\" face=\"Arial\">\n<pre>\n \n</pre>\n<p>\n  By Denny Jacob \n</p>\n<pre>\n \n</pre>\n<p>\n  <a href=\"https://laohu8.com/S/VRA\">Vera Bradley</a> posted lower profit and sales in its latest quarter as macroeconomic headwinds continued to pressure customers, prompting the company to lower its outlook for the year. \n</p>\n<p>\n  The purveyor of quilted bags and accessories logged net income of $5.71 million, or 19 cents a share, for the second quarter ended Aug 3, down from $9.25 million, or 30 cents a share, a year earlier. Adjusted earnings were 13 cents a share. \n</p>\n<p>\n  Revenue declined to $110.8 million from $128.2 million. \n</p>\n<p>\n  \"Our results for the period were also influenced by stubbornly persistent macro consumer headwinds that masked key successes across several areas of our business turnaround,\" said Chief Executive Jackie Ardrey. \n</p>\n<p>\n  For fiscal 2025, Vera cut its forecast to revenue of around $410 million and earnings per-share of about 10 cents. It previously forecast revenue between $460 million and $480 million and earnings per-share of 54 cents to 62 cents. \n</p>\n<p>\n  \"We are prudently planning the second half through a more conservative lens,\" added Ardrey. \n</p>\n<p>\n  Shares tumbled 14% to $4.28 in premarket trading. The stock is down 35% on the year through Tuesday's close. \n</p>\n<pre>\n \n</pre>\n<p>\n  Write to Denny Jacob at denny.jacob@wsj.com \n</p>\n<pre>\n \n</pre>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  September 11, 2024 08:33 ET (12:33 GMT)\n</p>\n<p>\n  Copyright (c) 2024 Dow Jones &amp; Company, Inc.\n</p>\n</font>","source":null,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Vera Bradley 2Q Profit, Rev Decline as Pressure on Customers Continues</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nVera Bradley 2Q Profit, Rev Decline as Pressure on Customers Continues\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-09-11 20:33 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://dowjonesnews.com/newdjn/logon.aspx?AL=N><strong>Dow Jones</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>By Denny Jacob \n\n\n \n\n\nVera Bradley posted lower profit and sales in its latest quarter as macroeconomic headwinds continued to pressure customers, prompting the company to lower its outlook for the ...</p>\n\n<a href=\"https://dowjonesnews.com/newdjn/logon.aspx?AL=N\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"CUBI","symbol_name":"Customers Bancorp Inc.","start_time":0,"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","article_id":"2466264285","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2466264285","pubTimestamp":1726057980,"sourceInfo":null,"weMediaInfo":{"media_name":"Dow Jones","introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"summary":"Vera Bradley posted lower profit and sales in its latest quarter as macroeconomic headwinds continued to pressure customers, prompting the company to lower its outlook for the year.The purveyor of quilted bags and accessories logged net income of $5.71 million, or 19 cents a share, for the second quarter ended Aug 3, down from $9.25 million, or 30 cents a share, a year earlier. Adjusted earnings were 13 cents a share.Revenue declined to $110.8 million from $128.2 million.\"Our results for the period were also influenced by stubbornly persistent macro consumer headwinds that masked key successes across several areas of our business turnaround,\" said Chief Executive Jackie Ardrey.For fiscal 2025, Vera cut its forecast to revenue of around $410 million and earnings per-share of about 10 cents. It previously forecast revenue between $460 million and $480 million and earnings per-share of 54 cents to 62 cents.\"We are prudently planning the second half through a more conservative lens,\" added","collect":0,"end_time":0,"defaultTopTitle":"","property":[],"viewcount":null,"language":"en","relate_stocks":{"CUBI":"Customers Bancorp Inc.","VRA":"Vera Bradley","BK4202":"服装、服饰与奢侈品","BK4211":"区域性银行"},"translate_title":"由于客户压力持续，Vera Bradley第二季度利润和营业额下降","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"CUBI":1,"VRA":1},"content_text":"By Denny Jacob \n\n\n \n\n\nVera Bradley posted lower profit and sales in its latest quarter as macroeconomic headwinds continued to pressure customers, prompting the company to lower its outlook for the year. \n\n\n  The purveyor of quilted bags and accessories logged net income of $5.71 million, or 19 cents a share, for the second quarter ended Aug 3, down from $9.25 million, or 30 cents a share, a year earlier. Adjusted earnings were 13 cents a share. \n\n\n  Revenue declined to $110.8 million from $128.2 million. \n\n\n  \"Our results for the period were also influenced by stubbornly persistent macro consumer headwinds that masked key successes across several areas of our business turnaround,\" said Chief Executive Jackie Ardrey. \n\n\n  For fiscal 2025, Vera cut its forecast to revenue of around $410 million and earnings per-share of about 10 cents. It previously forecast revenue between $460 million and $480 million and earnings per-share of 54 cents to 62 cents. \n\n\n  \"We are prudently planning the second half through a more conservative lens,\" added Ardrey. \n\n\n  Shares tumbled 14% to $4.28 in premarket trading. The stock is down 35% on the year through Tuesday's close. \n\n\n \n\n\n  Write to Denny Jacob at denny.jacob@wsj.com \n\n\n \n\n\n  (END) Dow Jones Newswires\n\n\n  September 11, 2024 08:33 ET (12:33 GMT)\n\n\n  Copyright (c) 2024 Dow Jones & Company, Inc.","kind":null,"is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.26.4","shortVersion":"4.26.4","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2466264285"}