Vera Bradley Reports Q3 Revenue of $62.3M
Reports Q3 revenue $62.3M vs. $70.5M last year. "Our third quarter results demonstrate progress in our comprehensive transformation strategy, which we have now branded as Project Sunshine, our five-pillar initiative anchored on reclaiming Vera Bradley's joyful optimism while fueling operational excellence. Project Sunshine encompasses sharpening our brand focus, resetting our go-to-market approach, rewiring our digital ecosystem, implementing Outlet 2.0, and reimagining how we work as an organization," said Ian Bickley, Executive Chairman. "With third quarter revenues of $62.3 million, our Direct Segments registered sequential improvement across key metrics including positive comparable Brand channel sales for five months from back-to-school through Black Friday weekend. The successful return of iconic styles like the Original 100 Bag, the Vera and Glenna Totes also give us confidence we're moving Vera Bradley in the right direction. While significant work remains, these early wins and our continued focus on profitability and cash generation position us well for sustainable growth."
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Music & Electronics Stores Shares Drop 1.5% Led by Upbound Group
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Vera Bradley, Inc. Reports Reduced Losses in Q3
Third Quarter Loss: Vera Bradley, Inc. reported a loss of -$12.37 million for the third quarter, slightly improving from a loss of -$12.80 million in the same period last year.
Adjusted Earnings: Excluding certain items, the company reported adjusted earnings of -$8.31 million, or -$0.30 per share.
Revenue Decline: The company's revenue decreased by 11.7%, falling to $62.25 million from $70.48 million in the previous year.
Earnings Comparison: The earnings per share (EPS) for the quarter was -$0.44, compared to -$0.46 in the prior year.
