Executive Summary
- Vera Bradley reported fiscal 1Q17 EPS of $0.06 versus the consensus estimate
of $0.05. - Total revenues were $105.2 million versus consensus of $106.6 million. Direct sales were $72.9 million, below consensus of $77.8 million, while indirect sales were $32.2 million, above consensus of $29.4 million. Comps declined by 6.7%, versus consensus of a 2% decline. Store comps declined by 3.8% and e-commerce comps declined by 11%.
- Management provided 2Q17 guidance for EPS of $0.13–$0.15 versus consensus of $0.18. That is based on total revenues of $118–$123 million versus consensus of $123.1 million. The company maintained its full-year EPS guidance of $0.90–$0.98, versus consensus of $0.95. Total revenues are now expected to be $510–$520 million versus prior guidance of $510–$525 million; consensus is for revenues of $517.5 million.
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