- Prachi Singh |
Net revenues at Vera Bradley totalled 118.2 million dollars for the fourth quarter ended February 2, 2019 compared to 132 million dollars in the prior year fourth quarter. The company said, revenues were at the high end of its guidance range of 114 to 119 million dollars. The company posted net income of 8.6 million dollars or 25 cents per diluted share, which was at the high end of the Company’s guidance range of 22 cents to 25 cents per diluted share compared to 8.5 million dollars or 24 cents per share in the prior year fourth quarter.
“We are pleased that our fourth quarter revenues were at the high end of our guidance, our gross margin rate exceeded our expectations, and expenses were well-controlled,” said Robert Wallstrom, the company’s CEO in a statement, adding, “These factors led to fourth quarter EPS of 25 cents, at the top of our guidance range.”
Vera Bradley posts rise in full year earnings
Net revenues totalled 416.1 million dollars for fiscal 2019, compared to 454.6 million dollars in fiscal 2018, which the company said, were at the upper end of its 412 to 417 million dollars guidance range. The company posted net income of 20.8 million dollars or 59 cents per diluted share against 7 million dollars or 19 cents per diluted share in the previous year.
“We are pleased with our fiscal 2019 performance, which was not only at the high end of our guidance range but was meaningfully better than the 35 cents to 45 cents per share annual guidance we provided at this time last year,” Wallstrom added.
Vera Bradley reveals outlook for Q1 and fiscal year 2020
For the first quarter of fiscal 2020, the company expects net revenues of 86 to 91 million dollars compared to prior year first quarter revenues of 86.6 million dollars, a gross profit percentage of 55.2 percent to 55.7 percent compared to 56.1 percent in the prior year first quarter and diluted loss per share of 6 cents to 8 cents, based on diluted weighted-average shares outstanding of 34.5 million compared to a loss of 4 cents per diluted share, in the prior year first quarter.
For Fiscal 2020, company expects net revenues of 420 to 440 million dollars compared to 416.1 million dollars in fiscal 2019, a gross profit percentage approximately flat with 57.3 percent in fiscal 2019 and diluted earnings per share of 64 cents to 74 cents, based on diluted weighted-average shares outstanding of 34.5 million compared to 59 cents per share last year.