2023-03-08 08:04:36 ET
- Vera Bradley press release ( NASDAQ: VRA ): Q4 Non-GAAP EPS of $0.17 beats by $0.01 .
- Revenue of $147.09M (-1.7% Y/Y) beats by $9.05M .
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For Fiscal 2024, the Company’s expectations are as follows:
- Consolidated net revenues of $490 to $510 million vs consensus of $509.45M. Net revenues totaled $500.0 million in Fiscal 2023 . Both Vera Bradley and Pura Vida revenues are expected to be approximately flat on a year-over-year basis.
- A consolidated gross profit percentage of 52.6% to 53.6% compared to 51.4% in Fiscal 2023. The expected year-over-year increase is primarily related to reduced inbound freight expense, partially offset by deleveraged overhead costs related to reduced inventory purchases.
- Consolidated SG&A expense of $241 to $251 million compared to $245.3 million in Fiscal 2023. Year-over-year changes in SG&A expense primarily are being driven by restoring short-term and long-term incentive compensation to normal levels, offset by Company-wide cost reduction initiatives.
- Consolidated operating income of $17.3 to $21.7 million compared to $12.3 million in Fiscal 2023.
- Free cash flow of between $25 and $30 million compared to a cash usage of $21.7 million in Fiscal 2023.
- Consolidated diluted EPS of $0.40 to $0.50 based on diluted weighted-average shares outstanding of 31.0 million and an effective tax rate of approximately 28% vs consensus of $0.35. Diluted EPS totaled $0.24 last year.
- Net capital spending of approximately $5 million compared to $8.2 million in the prior year, reflecting investments associated with new Vera Bradley Factory stores and technology and logistics enhancements
For further details see:
Vera Bradley Non-GAAP EPS of $0.17 beats by $0.01, revenue of $147.09M beats by $9.05M