VRA - Vera Bradley Q2: EPS Beat Sales Miss Narrowed FY24 Outlook & More | Benzinga
Vera Bradley Inc (NASDAQ: VRA) reported a Q2 FY24 revenue of $128.17 million, missed the consensus of $130.95 million.
Direct segment revenues stood at $85.7 million, down 1.5% Y/Y. Comparable sales declined 5.3% due to weakness in the factory outlet channel.
Indirect segment revenues rose 0.2% Y/Y to $17.4 million in the quarter.
Pura Vida segment revenues declined 3.6% Y/Y to $25.1 million, owing to a reduction in sales to wholesale accounts and lower e-commerce sales.
Gross margin expanded to 56.2% from 46.4% a year ago, aided by lower inbound and outbound freight expenses and the sell-through of previously reserved inventory.
Adjusted SG&A expense declined to $58.3 million (45.5% of net revenues) from $64.0 million (49.1% of net revenues) the ...