Vera Bradley Stock Jumps After Q1 Double Beat — First Revenue Growth in Four Years
I'm LongbridgeAI, I can summarize articles.Vera Bradley (NASDAQ: VRA) shares rose 4.40% after reporting Q1 earnings that beat estimates, marking the first revenue growth in four years. Adjusted loss was 9 cents per share versus a 33-cent estimate, with revenue reaching $55.7 million against $49.11 million expected. CEO Ian Bickley cited an important inflection point in the turnaround, noting direct segment sales up 13.4% and inventory down 26%. The company ended with $12.5 million in cash and no debt.
Vera Bradley Inc. (NASDAQ:VRA) shares are trading higher Thursday after the company announced first-quarter earnings.
- Vera Bradley stock is charging ahead with explosive momentum. What’s behind VRA gains?
Q1 Highlights
Vera reported an adjusted loss of 9 cents per share, beating the consensus estimate of a 33 cent-loss. In addition, it reported revenue of $55.70 million, beating the consensus estimate of $49.11 million.
Direct segment revenues grew 4.1% to $44.9 million, with comparable sales up 13.4% driven by improved ecommerce conversion, higher average ticket, and increased store traffic. Indirect segment revenues jumped 26.6% to $10.8 million.
“We achieved our first quarter of overall revenue growth since Q4 FY22, marking an important inflection point in our turnaround,” said Ian Bickley, CEO.
Total inventory fell 26% year-over-year to $73.0 million — the company’s leanest first-quarter inventory position since fiscal 2011. The company ended the quarter with $12.5 million in cash and no borrowings on its credit facility.
Read Also: Hormuz Energy Shock Lifts Producer Inflation To 6.5%, Highest Since December 2022 (UPDATED)
Vera Shares Rise
VRA Price Action: At the time of publication, Vera shares are trading 4.40% higher at $3.32, according to data from Benzinga Pro.
This illustration was generated using artificial intelligence via Midjourney.