Last $19.00 USD
Change Today -0.35 / -1.81%
Volume 78.7K
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As of 10:16 AM 01/27/15 All times are local (Market data is delayed by at least 15 minutes).

vera bradley inc (VRA) Key Developments

Vera Bradley, Inc. Announces Unaudited Consolidated Earnings Results for the Third Quarter and Nine Months Ended November 1, 2014; Provides Earnings Guidance for the Fourth Quarter and Full Year of Fiscal Year 2015

Vera Bradley, Inc. announced unaudited consolidated earnings results for the third quarter and nine months ended November 1, 2014. For the quarter, the company reported net revenues of $125,204,000 compared to $125,204,000 a year ago. Operating income was $13,604,000 compared to $24,701,000 a year ago. Income from continuing operations before income taxes was $13,389,000 against $24,562,000 a year ago. Income from continuing operations was $8,721,000 or $0.21 per basic and diluted share against $15,657,000 or $0.39 per basic and diluted share a year ago. Net income was $6,941,000 or $0.17 per basic and diluted share against $15,226,000 or $0.37 per basic and diluted share a year ago. For the nine months, the company reported net revenues of $356,361,000 compared to $374,477,000 a year ago. Operating income was $38,137,000 compared to $64,494,000 a year ago. Income from continuing operations before income taxes was $37,818,000 against $64,024,000 a year ago. Income from continuing operations was $23,492,000 or $0.58 per basic and diluted share against $40,225,000 or $0.99 per basic and diluted share a year ago. Net income was $21,106,000 or $0.52 per basic and diluted share against $39,366,000 or $0.97 per basic and diluted share a year ago. Net cash provided by operating activities was $56,253,000 compared to $34,846,000 a year ago. Purchases of property, plant, and equipment were $22,358,000 against $15,418,000 a year ago. The company provided earnings guidance for the fourth quarter and full year of fiscal year 2015. For the fourth quarter, the company expects net revenues to be in the range of $158 million to $163 million compared to prior year fourth quarter revenues of $156.4 million. The company expects gross margin rate to range from 53.5% to 54.5% compared to 52.8% in the prior year fourth quarter. The company expects diluted earnings per share from continuing operations to be in the range of $0.43 to $0.47, based on diluted weighted-average shares outstanding of 40.4 million and an effective tax rate of 38.4%. The company expects inventory to be $100 million to $110 million at the end of the fiscal year, compared to $136.9 million at the end of last fiscal year. For fiscal 2015, the company expects net revenues to be in the range of $514 million to $520 million compared to $530.9 million last year. The company expects gross margin rate to range from 53.0% to 53.5% compared to 55.0% last year. The company expects diluted earnings per share from continuing operations to be in the range of $1.00 to $1.05, based on diluted weighted-average shares outstanding of 40.6 million and an effective tax rate of 38.4%. The company expects net capital spending of approximately $40.0 million. Total capital expenditures to be approximately $40 million for the full year, with approximately $20 million related to the corporate office campus consolidation.

Harry Cunningham Joins Vera Bradley as Head of Store Development

Vera Bradley, Inc. announced that industry icon Harry Cunningham will join Vera Bradley as Head of Store Development effective December 8, 2014. Cunningham has nearly 25 years of experience in store design and visual merchandising. He has been with Saks Fifth Avenue since 2006 and most recently held the post of Senior Vice President of Store Planning, Design and Visual Merchandising. Prior to that, Cunningham held various visual merchandising roles of increasing responsibility with Liz Claiborne, Saks Department Store Group and Dillard's.

Vera Bradley, Inc. to Report Q3, 2015 Results on Dec 10, 2014

Vera Bradley, Inc. announced that they will report Q3, 2015 results at 9:30 AM, US Eastern Standard Time on Dec 10, 2014

Vera Bradley, Inc., Q3 2015 Earnings Call, Dec 10, 2014

Vera Bradley, Inc., Q3 2015 Earnings Call, Dec 10, 2014

Vera Bradley Introduces Collection of Leather and Faux Leather Handbags and Accessories

Vera Bradley will introduce a collection of leather and faux leather handbags and accessories. The company, who for over 30 years has specialized in colorful handbags, accessories, gifts, travel bags, and stationery, looks to attract new customers and grow with current customers by providing additional style options for career, social and everyday occasions. The launch begins a new chapter for Vera Bradley, as the collection suits the customer searching for the perfect bag to fit her busy lifestyle. A new campaign, #TogetherInStyle, invites customers to photograph, tag, and share their experiences of being together in Vera Bradley style on social media. Fans are encouraged to post photos of shared moments with family and friends, such as cocktail hour, 'pedi's' with girlfriends and mother/daughter shopping excursions. The leather collection is offered in six styles including a wallet, wristlet, crossbody, backpack, satchel and tote. The collection is available in black, taupe and burnt orange. The faux leather collection is available in eight styles including an envelope card case, wristlet, accordion wallet, envelope, crossbody, backpack, satchel and tote. The collection comes in black, fuchsia, green and cobalt. Remaining true to the brand's signature bold colors and designs, the new collections feature fun, colorful patterned linings in all leather and faux leather styles.

 

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Price/Earnings 18.7x
Price/Sales 1.5x
Price/Book 2.8x
Price/Cash Flow 19.2x
TEV/Sales 1.3x
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