NASDAQ$VRA
Vera Bradley Inc · Q1 2024 earnings
Q1 2024 earnings · · Investor relations
Briefing
Vera Bradley reported a net loss of $4.7 million and net revenues of $94.4 million for Q1 2024.
Vera Bradley, Inc. announced its financial results for the first quarter ended April 29, 2023. The company reported consolidated net revenues of $94.4 million and a net loss of $4.7 million, or $0.15 per diluted share. The balance sheet remains strong with $25.3 million in cash and cash equivalents and no debt.
- Meaningful gross margin expansion and diligent expense control led to significant year-over-year improvement in bottom-line performance.
- Pura Vida experienced its first positive quarterly revenue performance in five quarters, primarily driven by non-comparable retail store sales.
- Vera Bradley e-commerce performance was strong, and Vera Bradley full-line store revenues were solid.
- The company announced $12 million in incremental annualized cost reductions, including the elimination of approximately 25 corporate positions.
Headline financials
Revenue & EPS history
Vera Bradley · Revenue · Quarterly
$94.4M
Revenue by segment
Vera Bradley · $74.3M total across 2 segments · Q1 2024
- Direct$58.9M-4.4%79.3%
- Indirect$15.4M-9.4%20.7%
Forward guidance
Management is updating guidance for the fiscal year ending February 3, 2024, based on first quarter performance, company initiatives underway, and current macroeconomic trends and expectations.
Tailwinds
- Consolidated net revenues of $490 to $510 million.
- A consolidated gross profit percentage of 52.8% to 53.8%.
- Consolidated SG&A expense of $237 to $247 million.
- Consolidated operating income of $24 to $28 million.
- Free cash flow of between $35 and $40 million.
Headwinds
- Both Vera Bradley and Pura Vida revenues are expected to be approximately flat on a year-over-year basis.
- An increase in promotional activity is expected.
- Restoring short-term and long-term incentive compensation to more normalized levels.
- Incremental marketing investment intended to accelerate customer file growth.
- Effective tax rate of approximately 28%.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 19 quarterly earnings reports · overlaid with Q1 2024
-0.6%
Avg return
Earnings day
-0.7%
Avg return
5 days after
-1.9%
Avg return
30 days after
40%
26 / 65 earnings
Positive
+36.9%
Q3 2016
Best reaction
-24.1%
Q4 2020
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2027 | — | — | — | |
| Q4 2026 | +35.7% | +31.3% | +55.8% | |
| Q3 2026 | -16.3% | +0.9% | +42.8% | |
| Q2 2026 | -7.9% | -9.2% | -12.7% | |
| Q1 2026 | -2.1% | -10.0% | -13.0% | |
| Q4 2025 | -3.3% | +0.7% | -22.4% | |
| Q3 2025 | -17.7% | -26.0% | -31.0% | |
| Q2 2025 | -0.6% | -1.4% | +4.0% | |
| Q1 2025 | -19.7% | -22.6% | -16.3% | |
| Q4 2024 | -9.8% | -13.6% | -10.7% | |
| Q3 2024 | +6.5% | +5.9% | +2.5% | |
| Q2 2024 | +4.5% | +5.5% | -3.6% | |
| Q1 2024 | +16.0% | +12.6% | +16.8% | |
| Q4 2023 | +2.9% | +3.3% | +8.3% | |
| Q3 2023 | +14.4% | +19.7% | +24.6% | |
| Q2 2023 | -18.2% | -21.6% | -32.4% | |
| Q1 2023 | -8.0% | -22.5% | -30.6% | |
| Q4 2022 | +6.5% | +8.0% | +0.9% | |
| Q3 2022 | -18.3% | -16.0% | -17.9% | |
| Q2 2022 | -11.5% | -11.2% | -16.1% | |
| Q1 2022 | -9.5% | -7.0% | -13.0% | |
| Q4 2021 | +0.6% | +5.6% | +1.3% | |
| Q3 2021 | -13.5% | -10.7% | -5.0% | |
| Q2 2021 | +31.1% | +40.3% | +27.4% | |
| Q1 2021 | +7.8% | +21.7% | -24.7% | |
| Q4 2020 | -24.1% | -37.9% | -17.2% | |
| Q3 2020 | -8.3% | -7.8% | -7.0% | |
| Q2 2020 | -16.5% | -14.2% | -1.7% | |
| Q1 2020 | -2.2% | +0.7% | +2.5% | |
| Q4 2019 | +25.3% | +21.5% | +7.2% | |
| Q3 2019 | -16.5% | -17.6% | -6.2% | |
| Q2 2019 | +17.6% | +17.3% | -3.1% | |
| Q1 2019 | +6.4% | +5.4% | +6.7% | |
| Q4 2018 | -4.1% | +2.7% | +6.0% | |
| Q3 2018 | +30.8% | +35.8% | +31.9% | |
| Q2 2018 | -10.2% | -9.7% | -12.5% | |
| Q1 2018 | +2.8% | +1.4% | +15.1% | |
| Q4 2017 | -4.5% | -1.9% | -6.7% | |
| Q3 2017 | -12.6% | -16.0% | -19.9% | |
| Q2 2017 | +9.6% | +11.4% | +1.3% | |
| Q1 2017 | -2.7% | -2.9% | -6.7% | |
| Q4 2016 | +11.2% | — | — | |
| Q3 2016 | +36.9% | — | — | |
| Q2 2016 | +33.7% | — | — | |
| Q1 2016 | -18.0% | — | — | |
| Q4 2015 | -16.3% | — | — | |
| Q3 2015 | +0.7% | — | — | |
| Q2 2015 | +0.7% | — | — | |
| Q1 2015 | -8.4% | — | — | |
| Q4 2014 | +9.9% | — | — | |
| Q3 2014 | -4.2% | — | — | |
| Q2 2014 | -0.6% | — | — | |
| Q1 2014 | -8.0% | — | — | |
| Q4 2013 | -1.1% | — | — | |
| Q3 2013 | -15.3% | — | — | |
| Q2 2013 | -6.5% | — | — | |
| Q1 2012 | +6.4% | — | — | |
| Q1 2013 | -11.5% | — | — | |
| Q1 2011 | -1.5% | — | — | |
| Q4 2012 | -1.5% | — | — | |
| Q4 2010 | -1.5% | — | — | |
| Q3 2011 | -8.6% | — | — | |
| Q3 2012 | -8.6% | — | — | |
| Q2 2012 | +5.0% | — | — | |
| Q4 2011 | +5.0% | — | — | |
| Q2 2011 | +5.0% | — | — |
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