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VRA Vera Bradley News Story

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Vera Bradley Q3 net loss widens due to inventory write-downs

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

MetricBeat/MissActualConsensus Estimate
Q3 RevenueSlight Beat*$62.25 mln$61.69 mln (1 Analyst)
Q3 Adjusted EPSMiss-$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 For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact RefinitivNewsSupport@thomsonreuters.com. (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.)

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