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Vera Bradley narrows losses, raises earnings guidance

Vera Bradley Inc. (VRA) reported a fiscal first-quarter net loss of $2.1 million, or 6 cents per share, after a loss of $15.3 million, or 66 cents per share, last year. Adjusted losses of 5 cents per share were narrower than the FactSet consensus for a 20-cent-per-share loss. Revenue of $109.1 million was up from $69.3 million last year and ahead of the FactSet consensus for $97.9 million. For fiscal 2022, Vera Bradley expects revenue of $555 million to $575 million compared with previous expectations (link) for revenue of $550 million to $575 million, and EPS of 85 cents to $1.00 up from previous guidance for 80 cents to 90 cents. The FactSet consensus is for sales of $562.5 million and EPS of 86 cents. Vera Bradley shares fell 2.5% in Wednesday premarket trading and has gained 70.1% for the year to date. The benchmark S&P 500 index is up 12.5% for the year to date.

-Tonya Garcia; 415-439-6400; AskNewswires@dowjones.com

 

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06-09-21 0819ET

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