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Vera Bradley

Vera Bradley flaunts fiscal 1Q revenue beat led by strong same-store sales growth

The fashion and accessories retailer reported revenue growth of 5.1% year over year to $91 million, topping the consensus estimate of $88 million

Vera Bradley handbags
The Fort Wayne, Indiana-based company saw a net loss of $2.4 million, $0.07 per share

Vera Bradley Inc (NASDAQ:VRA) shares were sparkling Wednesday after the company posted fiscal first-quarter results that outpaced expectations.

The fashion and accessories retailer reported revenue growth of 5.1% year over year to $91 million, topping the consensus estimate of $88 million. Same-store sales increased 5.2%.

The beat propelled its stock 6.7% higher to $11.90.

The Fort Wayne, Indiana-based company saw a net loss of $2.4 million, $0.07 per share, right in line with Street projections. In the year ago quarter, it lost $1.4 million.

READ: Vera Bradley flies after fiscal 4Q earnings top expectations on strong online sales

Also during the quarter, the company repurchased $2.9 million in common stock. It ended the period with $144.2 million in cash and no debt.

“We are pleased with our 5.2% first quarter comparable sales increase and that revenues were once again at the high end of our guidance, indicating that our customers are responding to both our innovative product and targeted consumer engagement efforts,” CEO Robert Wallstrom said.

Going forward, Vera Bradley expects fiscal second-quarter revenue between $115 million and $120 million, which would beat analysts estimate of $114.2 million. Diluted earnings per share are projected to clock in between $0.25 and $0.28, while Street expectations are calling for $0.28.

Contact Andrew Kessel at [email protected]

Follow him on Twitter @andrew_kessel

Quick facts: Vera Bradley

Price: $9.79

Market: NASDAQ
Market Cap: $334.96 m
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