Vera Bradley (NASDAQ:VRA) earnings for the luggage and handbag company’s second quarter of fiscal 2021 have VRA stock taking off on Wednesday. This comes after reporting adjusted earnings per share of 32 cents and revenue of $131.77 million. Both of these come in above Wall Street’s estimates of adjusted losses per share of 7 cents and revenue of $100.48 million.
Here’s what else is worth mentioning from the most recent Vera Bradley earnings report.
- Adjusted per-share earnings are up 28% from 25 cents in the same period of the year prior.
- Revenue for the quarter comes in 10% higher than the $119.79 million reported in the second quarter of fiscal 2020.
- Operating income of $17.5 million is 138.1% higher year-over-year than $7.35 million.
- The Vera Bradley earnings report also has net income coming in at $7.22 million.
- That is a 23.4% jump from net income of $5.85 million last year.
Rob Wallstrom, CEO of Vera Bradley, said this in the earnings report.
“Total Company year-over-year second quarter revenues grew 10%, driven by the addition of Pura Vida for a full quarter and Vera Bradley e-commerce sales doubling, partially offset by a decrease in Vera Bradley store revenues due to COVID-19-related closures for a portion of the quarter. At both Vera Bradley and Pura Vida, customers responded to new product launches and marketing initiatives, and cotton masks also drove meaningful revenue growth.”
Vera Bradley isn’t providing guidance for fiscal 2021 due to the novel coronavirus. This has it following a trend alongside many other companies withholding outlooks during the pandemic.
VRA stock was up 34.5% as of Wednesday afternoon.
On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article.