NASDAQ$VRA
Vera Bradley Inc · Q4 2023 earnings
Q4 2023 earnings · · Investor relations
Briefing
Vera Bradley's Q4 2023 financial performance was announced, revealing revenue outperformance but gross margin pressure, with non-GAAP EPS nearly flat year-over-year.
Vera Bradley, Inc. reported Q4 2023 consolidated net revenues of $147.1 million, a decrease from $149.6 million in the prior year. The company experienced a net loss of ($28.2) million, or ($0.91) per diluted share, but on a non-GAAP basis, net income was $5.0 million, or $0.16 per diluted share. Sales trends improved at both Vera Bradley and Pura Vida compared to prior quarters.
- Total Company fourth quarter revenues outperformed guidance, although gross margins remained under pressure.
- Fourth quarter non-GAAP diluted EPS of $0.16, was nearly flat with last year.
- Sales trends at both Vera Bradley and Pura Vida improved over prior quarters.
- Vera Bradley Indirect Channel experienced year-over-year revenue growth for the fourth consecutive quarter.
Headline financials
Revenue & EPS history
Vera Bradley · Revenue · Quarterly
$147M
Revenue by segment
Vera Bradley · $116M total across 2 segments · Q4 2023
- Direct$99.5M-4.7%85.6%
- Indirect$16.7M+28.5%14.4%
Forward guidance
The Company is providing estimates for the fiscal year ending February 3, 2024, anticipating an unpredictable macroeconomic environment and a rebuilding year for both brands. They expect to leverage gross margin improvement opportunities and manage expenses diligently.
Tailwinds
- Consolidated net revenues of $490 to $510 million.
- A consolidated gross profit percentage of 52.6% to 53.6% compared to 51.4% in Fiscal 2023.
- Consolidated SG&A expense of $241 to $251 million compared to $245.3 million in Fiscal 2023.
- Consolidated operating income of $17.3 to $21.7 million compared to $12.3 million in Fiscal 2023.
- Free cash flow of between $25 and $30 million compared to a cash usage of $21.7 million in Fiscal 2023.
Headwinds
- The Fiscal 2024 macroeconomic environment to continue to be unpredictable and that this year will be a rebuilding year for both of our brands.
- The Company is not providing detailed guidance for the first fiscal quarter of 2024 but expects revenues and diluted loss per share to be approximately in line with the prior year.
- Both Vera Bradley and Pura Vida revenues are expected to be approximately flat on a year-over-year basis.
- Deleveraged overhead costs related to reduced inventory purchases.
- Restoring short-term and long-term incentive compensation to normal levels.
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 Q4 2023
-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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