- Vera Bradley (NASDAQ:VRA) reports comparable sales declined 9.5% in Q4 due to declines in store and e-commerce traffic.
- Direct segment revenue decreased 3.6% to $108.9M.
- Indirect segment revenue fell 36.9% to $26M.
- E-commerce sales slipped 6.5% Y/Y.
- Gross margin rate down 250 bps to 55.7% due to increased promotional activity at the Company’s factory outlet stores.
- Adjusted SG&A expense rate rose 430 bps to 44.6%.
- Adjusted operating margin rate dropped 710 bps to 11.3%.
- Inventory -7.1% Y/Y to $96.55M.
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Q1 Guidance: Net revenues: $94M to $99M; Gross margin rate: 55% to 55.5%; SG&A expense rate: 61.1% to 63.3%; Tax rate: 25%; Diluted EPS: -$0.11 to -$0.14; Weighted-average shares outstanding: 36.2M; Inventory: $100M to $110M.
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FY2018 Guidance: Net revenues: $460M to $480M; Gross margin rate: 56% to 56.5%; SG&A expense rate: 50.8% to 51.3%; Tax rate: 38%; Diluted EPS: $0.40 to $0.50; Weighted-average shares outstanding: 35.8M; Capex: ~$10M to $15M.
- VRA -13.63% premarket.