Vera Bradley, Inc (NASDAQ:VRA) hasn’t fared very badly in 2014 Q2
Vera Bradley, Inc (NASDAQ:VRA) announced its 2014 Q2 fiscal results for the quarter that ended 3 August 3. It reported $125.4 million in net revenues for the second-quarter, in comparison to $123.0M in the 2013 fiscal Q2 which was a rise $2.3m, or 1.9%. The EPS for the quarter stood at $0.37, which was an increase of 11.6% over the EPS earnings per share in the 2013 fiscal Q2.
The average analyst estimate was for Earnings per Share of $0.32. The Q3 EPS is projected to be in the range of $0.33 and $0.35. This is below the average analyst projection of $0.48. It also lowered its full-year 2014 Earnings per Share projection in the range of $1.47-$1.52, from the previous projections of $1.74- $1.78. The average analyst estimate is for EPS of $1.71.
The CEO, Michael C Ray said that they managed through the headwinds in the Q2 but still delivered results that were in line with their expectations. He said that despite this, the company’s product underperformed due to the uncertain consumer environment. This eventually affected the traffic at the company’s retail stores. He said that they were encouraged by the strategic progress that they had made and they are very optimistic about the company’s long-term prospects. However, they continue to maintain a cautions outlook for the rest of the year.
Friday’s trading session
In Friday’s trading, Vera Bradley, Inc (NASDAQ:VRA) rose by 6.68%. The opening price of the shares was $18.90 which touched an intraday high of $20.85 and dipped to close at $20.11. Approximately 1.54 million shares were traded on Friday and the average-volume of shares traded over a period of 30 days was 0.560 million. The company has a market cap of $816.53 million.
Vera Bradley, Inc (NASDAQ:VRA) is involved in designing, producing, marketing and retailing various functional-accessories for women. Its products include a variety of offerings of accessories, handbags and leisure and travel items. The company has two business segments via which it generates revenues- Direct and Indirect.