My Very Vera Blog
|Posted on June 19, 2013 at 5:30 PM|
Vera Bradley, Inc. recently (June 5) announced their fiscal 2014 first quarter financial results, and they look pretty good to me!
-Net revenues increased 5% to $123.0 million.
-Direct net revenues increased 24%, including an increase of 0.9% in comparable-store sales; Indirect net revenues decreased 15%.
- Diluted EPS (Earnings Per Share) were $0.23 compared to $0.31 in the first quarter of fiscal 2013.
Mike Ray, Chief Executive Officer commented, "We delivered on our expectations for the first quarter. Net revenue slightly exceeded our guidance, with comparable store sales growth of 0.9%, and indirect performance in line with expectations, while gross margin was slightly ahead. We also continue to be pleased with our new store performance as well as the growth in our e-commerce channel. Looking forward, in light of our outlook, we have narrowed our focus to ensure that we can execute our strategies as quickly as possible, both to address our challenges and to achieve our longer-term vision for the brand."
Sounds to me like VB is going to continue to be around for a little while. YAY!