Vera Bradley, Inc. Reports Earnings Results for the Fourth Quarter and Full Year Ended February 03, 2024
March 13, 2024 at 08:03 am EDT
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Vera Bradley, Inc. reported earnings results for the fourth quarter and full year ended February 03, 2024. For the fourth quarter, the company reported sales was USD 133.27 million compared to USD 147.09 million a year ago. Net loss was USD 1.86 million compared to USD 28.16 million a year ago. Basic loss per share from continuing operations was USD 0.06 compared to USD 0.91 a year ago. Diluted loss per share from continuing operations was USD 0.06 compared to USD 0.91 a year ago.
For the full year, sales was USD 470.79 million compared to USD 499.96 million a year ago. Net income was USD 7.84 million compared to net loss of USD 59.74 million a year ago. Basic earnings per share from continuing operations was USD 0.25 compared to basic loss per share from continuing operations of USD 1.9 a year ago. Diluted earnings per share from continuing operations was USD 0.25 compared to diluted loss per share from continuing operations of USD 1.9 a year ago.
Vera Bradley, Inc. is a designer of women's handbags, luggage and other travel items, fashion, and home accessories. The Company operates through three segments: Vera Bradley Direct (VB Direct), Vera Bradley Indirect (VB Indirect), and Pura Vida. The VB Direct business consists of sales of Vera Bradley products through Vera Bradley full-line and factory outlet stores in the United States; e-commerce sites verabradley.com and verabradley.ca; the Vera Bradley online outlet site; and typically, the Vera Bradley annual outlet sale in Fort Wayne, Indiana. The VB Indirect business consists of sales of Vera Bradley products to, specialty retail locations, all of which are located in the United States; as well as department stores, national accounts, third-party e-commerce sites, and third-party inventory liquidators; and royalties recognized through licensing agreements related to the Vera Bradley brand. Its Pura Vida is a digitally native lifestyle brand.