VRA Stock Price | Vera Bradley Inc. Stock Quote (U.S.: Nasdaq)

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Vera Bradley’s stock soars after profit, sales beat expectations

Shares of Vera Bradley Inc. shot up 11% toward a 4-month high in premarket trade Wednesday, after the handbags, luggage and accessories seller topped fiscal fourth-quarter profit and revenue expectations, as same-store sales fell less than forecast. Net income for the quarter to Feb. 2 rose to $8.6 million, or 25 cents a share, from $8.5 million, or 24 cents a share, in the same period a year ago. The FactSet EPS consensus was 24 cents. Revenue fell to $118.2 million from $132.0 million, above the FactSet consensus of $116.3 million, as the same-store sales decline of 11.2% beat expectations of a 14.3% fall. Over the past year, clearance activity was reduced by 70% while full-price selling rose 20%. The company said overall customer count declined in the “mid-single digit” percentage range for the year, given the “dramatic reduction” in clearance promotions and lower than expected factory channel traffic, but customer count in full-line stores and on the website exceeded expectations. The stock has gained 8.5% over the past 12 months through Tuesday, while the S&P 500 has gained 1.0%.






Source : MTV