Overview
Handbag designer's Q3 revenue falls to $62.3 million
Reports adjusted net loss of $0.30
Company's net loss impacted by inventory write-downs and media credit write-offs
Result Drivers
PROJECT SUNSHINE - Vera Bradley's transformation strategy, Project Sunshine, is focused on brand focus, digital ecosystem, and operational excellence, per Executive Chairman Ian Bickley
ICONIC STYLES RETURN - Return of iconic styles like the Original 100 Bag, Vera and Glenna Totes contributed to positive Brand channel sales
INVENTORY WRITE-DOWN - $5.9 mln inventory write-down due to strategic product shift affected results
Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
Q3 Revenue
Slight Beat*
$62.25 mln
$61.69 mln (1 Analyst)
Q3 Adjusted EPS
Miss
-$0.30
-$0.11 (1 Analyst)
Q3 EPS
-$0.44
Q3 Net Income
-$12.37 mln
*Applies to a deviation of less than 1%; not applicable for per-share numbers.
Analyst Coverage
The one available analyst rating on the shares is "hold"
The average consensus recommendation for the apparel & accessories peer group is "hold"
Press Release: ID:nGNX73DnBn
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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)