** charts before earnings **
** charts after earnings **
Vera Bradley beats by $0.05, misses on revs; guides Q1, FY18 EPS and revenue below consensus:
- Reports Q4 (Jan) earnings of $0.28 per share, $0.05 better than the Capital IQ Consensus of $0.23; revenues fell 12.5% year/year to $134.8 mln vs the $137.34 mln Capital IQ Consensus. Current year fourth quarter Direct segment revenues totaled $108.9 million, a 3.6% decrease from $112.9 million in the prior year fourth quarter. Comparable sales (including e-commerce) decreased 9.5% for the quarter (reflecting an 11.2% decline in comparable store sales and a 6.5% decrease in e-commerce sales), which was partially offset by new store growth (the Company opened four full-line and six factory outlet stores during the past 12 months). Fourth quarter comparable sales were negatively impacted by year-over-year declines in store and e-commerce traffic.
- Co issues downside guidance for Q1, sees EPS of ($0.11)-(0.14) vs. $0.06 Capital IQ Consensus Estimate; sees Q1 revs of $94-99 mln vs. $106.39 mln Capital IQ Consensus. A gross profit percentage of 55.0% to 55.5% compared to 56.7% in the prior year first quarter. The planned decline reflects an expected increased level of promotional activity as well as channel mix changes.
- Co issues downside guidance for FY18, sees EPS of $0.40-0.50 vs. $0.67 Capital IQ Consensus Estimate; sees FY18 revs of $460-480 mln vs. $503.09 mln Capital IQ Consensus. A gross profit percentage of 56.0% to 56.5% compared to 56.8% last year. The planned decline relates to expected increased promotional activity and channel mix changes, partially offset by planned overhead savings.
- "The retail environment became even more challenging in the fourth quarter. Consequently, both total revenues and our gross profit percentage were modestly below our expectations. However, we exceeded our fourth quarter EPS guidance, primarily due to diligent expense management and a lower-than-expected tax rate."
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