More on Vera Bradley's Q1

|About: Vera Bradley (VRA)|By:, SA News Editor

Vera Bradley (NASDAQ:VRA) reports comparable-store sales fell 22.3%.

Direct segment revenue decreased 2.4% to $70.4M.

Indirect segment revenue -23.3% to $30.7M.

Non-GAAP gross profit rate improved 127 bps to 54.53%.

Non-GAAP SG&A expense rate +993 bps to 54.53%.

Inventory -19.57% Y/Y to $101.79M.

Q2 Guidance: Net revenues: $116M to $120M; Gross margin rate: 54.5% to 55%; SG&A expense rate: 48.3% to 49.3%; Tax rate: 38.8%; Diluted EPS: $0.10 to $0.13; Weighted-average shares outstanding: 39.8M; Inventory: $108M to $112M.

FY2016 Guidance: Net revenues: $480M to $495M; Gross margin rate: 55.7% to 56.2%; SG&A expense rate: 46.8% to 47.4%; Tax rate: 39.5%; Diluted EPS: $0.64 to $0.74; Weighted-average shares outstanding: 39.8M; Capex: ~$31M.

Q1 results

Subscribe for full text news in your inbox