The most recent Vera Bradley earnings report sent the stock down on Wednesday with poor sales.
Vera Bradley (NASDAQ:VRA) reported revenue of $97.69 million for the third quarter of the year. This is a drop from the company’s revenue of $114.10 million reported in the third quarter of 2017. It was also bad news for VRA stock by missing Wall Street’s revenue estimate of $101.68 million for the period.
The Vera Bradley earnings report for the third quarter of 2018 also includes earnings per share of 12 cents. This is down from the company’s earnings per share of 23 cents from the same time last year. It was also a blow to VRA stock by coming in below analysts’ earnings per share estimate of 16 cents for the quarter.
Net income in the Vera Bradley earnings report for the third quarter of the year came in at $42.30 million. The handbag design company reported net income of $359,000 in the third quarter of the previous year.
Vera Bradley’s earnings report for the third quarter of 2018 also includes operating income of $5.34 million. The company’s operating income from the same period of the year prior was $462,000.
The Vera Bradley earnings report for the third quarter of the year also includes its outlook for 2018. The company is expecting earnings per share to range from 57 cents to 60 cents on revenue between $412.00 million to $417.00 million. Wall Street is looking for earnings per share of 59 cents on revenue of $415.87 million.
VRA stock was down 10% as of Wednesday morning and is down 19% year-to-date.
As of this writing, William White did not hold a position in any of the aforementioned securities.