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- Vera Bradley tops Street 2Q forecasts
ROANOKE, Ind. (AP) _ Vera Bradley Inc. (VRA) on Wednesday reported fiscal second-quarter profit of $2.2 million.
On a per-share basis, the Roanoke, Indiana-based company said it had net income of 6 cents. Earnings, adjusted for non-recurring costs and severance costs, were 13 cents per share.
The results topped Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of 10 cents per share.
The handbag and accessories company posted revenue of $112.4 million in the period, also beating Street forecasts. Four analysts surveyed by Zacks expected $111.9 million.
For the current quarter ending in November, Vera Bradley said it expects revenue in the range of $112 million to $117 million. Analysts surveyed by Zacks had expected revenue of $119.5 million.
The company expects full-year earnings to be 44 cents to 50 cents per share, with revenue ranging from $460 million to $470 million.
Vera Bradley shares have fallen 14 percent since the beginning of the year. The stock has decreased 32 percent in the last 12 months.
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