Vera Bradley (NASDAQ:VRA) earnings for the handbag company’s fiscal third quarter of 2020 have VRA stock taking a beating on Wednesday. This comes even after reporting an adjusted EPS of 20 cents on revenue of $127.50 million. These are both above Wall Street’s estimates of 18 cents per share and $124.34 million.
Here’s what else is worth mentioning from the Vera Bradley earnings report.
- Adjusted earnings per share for the quarter come in 66.67% higher than 12 cents in fiscal Q3 2019.
- Revenue is up 30.51% from the $97.69 million reported in the same period of the year prior.
- VRA reported an operating loss instead of profit like it did in the third quarter of the previous fiscal year.
- The Vera Bradley earnings report sees the name trend with net income from the same time last year changing to a net loss this year.
Rob Wallstrom, CEO of Vera Bradley, says this about the VRA stock earnings.
“In fiscal 2019, the first stage of Vision 20/20 was to restore brand and Company health. We have continued to build upon that progress in fiscal 2020. During the first nine months of this year, we once again improved the quality of sales in our full-line stores and on verabradley.com by increasing comparable full price selling in these two channels by approximately 7%.”
The Vera Bradley earnings report also includes its fiscal Q4 2020 outlook. This has it expecting adjusted per-share earnings between 49 cents and 53 cents on revenue of $155 million to $162 million. That doesn’t stack up next to Wall Street’s estimates of 52 cents and $162.52 million.
VRA stock was down 7.15% as of Wednesday afternoon.
As of this writing, William White did not hold a position in any of the aforementioned securities.
