Vera Bradley Q2: EPS Beat, Sales Miss, Narrowed FY24 Outlook & More
Portfolio Pulse from Lekha Gupta
Vera Bradley Inc (NASDAQ:VRA) reported Q2 FY24 revenue of $128.17 million, missing the consensus of $130.95 million. Direct segment revenues were down 1.5% Y/Y, while indirect segment revenues rose 0.2% Y/Y. Pura Vida segment revenues declined 3.6% Y/Y. Gross margin expanded to 56.2% from 46.4% a year ago. Adjusted EPS was $0.33, beating the estimate of $0.12. The company narrowed its FY24 outlook. VRA shares are trading higher by 10%.
August 30, 2023 | 2:02 pm
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Vera Bradley's Q2 FY24 revenue missed estimates, but EPS beat expectations. The company also narrowed its FY24 outlook.
Despite missing revenue estimates, Vera Bradley's stock is likely to rise in the short term due to the EPS beat and the positive reaction of the market, as indicated by the 10% increase in share price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100