Vera Bradley (NASDAQ: VRA) reported Q4 EPS of $0.28, $0.05 better than the analyst estimate of $0.23. Revenue for the quarter came in at $134.8 million versus the consensus estimate of $137.72 million.

"Robert Wallstrom, Chief Executive Officer, noted, “The retail environment became even more challenging in the fourth quarter. Consequently, both total revenues and our gross profit percentage were modestly below our expectations. However, we exceeded our fourth quarter EPS guidance, primarily due to diligent expense management and a lower-than-expected tax rate.”

Looking Ahead

Wallstrom added, “We have a strong brand, a talented team, and a solid financial foundation and are focused on ensuring Vera Bradley’s prosperous future. However, our transformation is taking longer than we had originally planned, and the overall retail environment and accessories space are significantly more challenging than anticipated.

“As we enter fiscal 2018, our primary objective is to increase our customer count. In order to do this, we must:

• Drive brand desirability through a robust marketing program and focused brand clarity;
• Drive product desirability through focusing on our core assortment and strategically leveraging licensing opportunities to expand the brand reach; and
• Strengthen our distribution network, focusing on driving comparable sales in our core businesses, including continuing to strengthen our digital flagship and relocating or closing up to 15 underperforming full-line stores.”

“We believe keenly focusing on these three goals will best position Vera Bradley for long-term revenue and income growth,” Wallstrom concluded.

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