Shares of Vera Bradley (VRA) tumbled more than 5% in Thursday morning trading after the women’s accessory-maker reported lower-than-expected first-quarter revenue and issued a disappointing full-year outlook.
VRA posted a profit of $6.6 million during the first quarter, compared to earnings of $9.2 million in the year-ago period. EPS came in at 16 cents, surpassing the 13 cents that analysts had predicted, the Associated Press notes.
However, first-quarter VRA revenue of $113.5 million was down 8% year-over-year and missed the $118.4 million that Wall Street was looking for.
Looking forward, VRA said it anticipates fiscal 2015 earnings from continuing operations in a range of $1 to $1.10 per share. That’s down from a previously-issued full-year profit forecast of between $1.20 and $1.30 per share. Analysts had expected full-year earnings of $1.26 per share.
VRA estimated fiscal 2015 revenue of between $530 million and $530.9 million, also down from prior-guidance of between $545 million and $565 million. Wall Street is expecting VRA 2015 revenue of $553.8 million.
On Wednesday, Vera Bradley stock closed at $25.25 per share.
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