Vera Bradley (VRA) Misses Q4 EPS by 10c, Offers FY Guidance

Vera Bradley (NASDAQ: VRA) reported Q4 EPS of $0.42, $0.10 worse than the analyst estimate of $0.52. Revenue for the quarter came in at $156.9 million versus the consensus estimate of $160.4 million.

• Vera Bradley comparable sales grew 2.4% for the quarter

GUIDANCE:

Vera Bradley sees FY2021 EPS of $0.93-$1.08, versus the consensus of $1.06. Vera Bradley sees FY2021 revenue of $555-585 million, versus the consensus of $560.7 million.

• Consolidated net revenues of $555 to $585 million, which includes estimated Pura Vida revenues of $125 to $135 million. Net revenues totaled $495.2 million in Fiscal 2020.
• A consolidated gross profit percentage of 56.7% to 56.9% compared to 56.6% in Fiscal 2020. The increase in rate should be driven by improvement in sourcing and operational efficiencies as well as the inclusion of Pura Vida.
• Consolidated SG&A expense of $269 to $280 million compared to $242.4 million in Fiscal 2020, reflecting the inclusion of $52 to $56 million of Pura Vida expenses for the full year.
• Consolidated diluted earnings per share of $0.93 to $1.08, which includes $0.33 to $0.37 attributable to Pura Vida for the full year. Diluted earnings per share are based on diluted weighted-average shares outstanding of 33.8 million and an effective tax rate of 22.0%. Diluted earnings per share totaled $0.82 last year.
• Net capital spending of approximately $8 to $10 million compared to $13.3 million in the prior year, reflecting investments associated with new factory locations and technology and logistics enhancements.

For earnings history and earnings-related data on Vera Bradley (VRA) click here.

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