Vera Bradley Inc. (NASDAQ:VRA) shares are trading higher Thursday after the company announced first-quarter earnings.
- Vera Bradley stock is charging ahead with explosive momentum. What’s behind VRA gains?
Q1 Highlights
Vera reported an adjusted loss of 9 cents per share, beating the consensus estimate of a 33 cent-loss. In addition, it reported revenue of $55.70 million, beating the consensus estimate of $49.11 million.
Direct segment revenues grew 4.1% to $44.9 million, with comparable sales up 13.4% driven by improved ecommerce conversion, higher average ticket, and increased store traffic. Indirect segment revenues jumped 26.6% to $10.8 million.
“We achieved our first quarter of overall revenue growth since Q4 FY22, marking an important inflection point in our turnaround,” said Ian Bickley, CEO.
Total inventory fell 26% year-over-year to $73.0 million — the company’s leanest first-quarter inventory position since fiscal 2011. The company ended the quarter with $12.5 million in cash and no borrowings on its credit facility.
Vera Shares Rise
VRA Price Action: At the time of publication, Vera shares are trading 4.40% higher at $3.32, according to data from Benzinga Pro.
This illustration was generated using artificial intelligence via Midjourney.
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