BUZZ-Vera Bradley slips after downbeat annual forecasts, Q3 results

Reuters12-12

** Shares of luggage and handbag maker Vera Bradley fall as much as 14.5% to $4.6, set for its worst day since June 12, if losses last

** Co sees net revenue of ~$385 mln for fiscal 2025 vs fiscal 2024's $470.8 mln, and diluted EPS of 25 cents vs 55 cents last year

** Q3 net revenue fell ~30% to $80.6 mln and adjusted EPS of 19 cents was down from 20 cents a year ago

** Sales for both direct and indirect channels of Vera Bradley declined on weak demand, while focus on marketing efficiency amidst a substantially higher cost environment decreased e-commerce performance for Pura Vida segment

** CEO says Q3 was extremely challenging as co is in early stages of transforming business model and transitioning brand positioning under its "project restoration" initiative

** Including session moves, stock has fallen ~37% YTD

(Reporting by Neil J Kanatt in Bengaluru)

((Neil.JKanatt@thomsonreuters.com))

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