Vera Bradley (VRA) reported earnings Thur 1 Sept 2016 (b/o)

** charts before earnings **

  

** charts after earnings **

Vera Bradley beats by $0.04, reports revs in-line; guides Q3 EPS below consensus, revs in-line; narrows FY17 EPS in-line, lowers the high end of FY17 revenue guidance :

• Reports Q2 (Jul) earnings of $0.17 per share, excluding $0.03 store impairment, $0.04better than the Capital IQ Consensus of $0.13; revenues fell 1.2% year/year to $119.2 mln vs the $118.72 mln Capital IQ Consensus. 
• Q2 Direct segment revenues +4% to $87.2 million.
• Comparable sales (including e-commerce) decreased 5.7% for the quarter (reflecting a 5.9% decline in comparable store sales and a 5.4% decrease in e-commerce sales), which was more than offset by new store growth (the Company opened 6 full-line and 7 factory outlet stores during the past 12 months). Second quarter comparable sales were negatively impacted by year-over-year declines in store and e-commerce traffic.
• Gross profit for the quarter totaled $68.4 million, or 57.4% of net revenues, compared to $66.6 million, or 55.1% of net revenues last year.
• Co issues guidance for Q3, sees EPS of $0.22-0.24 vs. $0.28 Capital IQ Consensus Estimate; sees Q3 revs of $128-133 mln vs. $129.73 mln Capital IQ Consensus Estimate.
• Co issues in-line guidance for FY17, sees EPS of $0.91-0.95, ex-$0.03 store impairment, (from $0.90-0.98), excluding non-recurring items, vs. $0.93 Capital IQ Consensus; sees FY17 revs of $510-515 mln (from $510-520 mln) vs. $512.89 mln Capital IQ Consensus Estimate.