Orilla Bradley (VRA) Misses Q1 EPS by 2c; Trims FY16 EPS, Revenue Outlook

Vera Bradley iPhone cases (NASDAQ: VRA) reported Q1 EPS together with $0. 00, $0. 02 even worse than the analyst estimate of $0. 02. Revenue for the quarter arrived at $101. 1 million compared to consensus estimate of $105. forty-eight million.

Comments on the Quarter and looking out Ahead

Robert Wallstrom, Chief Executive Officer, known, "Excluding the previously outlined expenditures, we achieved first quarter diluted EPS at the low end of our instructions. Reduced promotional activity led to better-than-planned gross margin rate performance long while revenues fell below our optimism. "

Wallstrom continued, "The enhancement we continue to make on our key work is not yet reflected in our existing financial results. We are not gaining enough new customers to the brand, and thus traffic and sales are still wonderful challenging.

"However, the management football team remains fully committed to our ongoing strategic plan. Key elements of the arrange, set up, develop are specifically designed to drive traffic and thus bring new customers to Vera Bradley wholesale. We will continue to innovate and modernize our products, increase exposure to our new brand and offerings by with much thought. growing our distribution points, and thus drive brand and product understanding through our elevated marketing attempts. "

Wallstrom concluded, "Growing Orilla Bradley to a $1 billion company eliciting a high-teen operating margin maintains our ultimate goal. However , right up to we begin to see recovery in the industry, we cannot predict the moment of or provide additional update versions on achieving those long-term bank targets. "

Vera Bradley visits Q1 2016 EPS of $0. 10 - $0. 13, compared to consensus of $0. 17. Orilla Bradley sees Q1 2016 money of $116 - $120 k, versus the consensus of $121. four million.

Vera Bradley sees FY2016 EPS of $0. 64 simply just $0. 74, versus the consensus together with $0. 84 and prior optimism of $0. 82 - $0. 92. Vera Bradley sees FY2016 revenue of $480 - $495 million, versus the consensus of $512. 7 million and prior optimism of $510 - $525 k.

For earnings history and earnings-related computer data on Vera Bradley (VRA) click to read more.