Vera Bradley’s revenues decline in the second quarter

Vera Bradley’s second quarter net revenues reduced to 110.8 million dollars. Net income for the quarter declined to 5.7 million dollars or 19 cents per diluted share. On a non-GAAP basis, the company’s net income totaled 3.9 million dollars or 13 cents per diluted share.

“Our results for the period were also influenced by stubbornly persistent macro consumer headwinds that masked key successes across several areas of our business turnaround, as we registered top-line trends similar to the first quarter,” said Jackie Ardrey, the company’s chief executive officer.

“We enter the second half of the fiscal year in a strong financial position with no debt and 44 million dollars in cash allowing us to remain nimble while navigating a clearly dynamic consumer environment,” added Ardrey.

For the first half period, net revenues declined to 191.4 million dollars, consolidated net loss was 2.4 million dollars or 8 cents loss per diluted share. On a non-GAAP basis, Vera Bradley’s net loss for the period was 2.6 million dollars or 9 cents loss per diluted share.

For fiscal 2025, the company expects net revenues of approximately 410 million dollars with revenues for the back half of the year expected to be down in the low-teen range with sequential improvement in the fourth quarter driven by six new outlet store openings. Gross profit percentage is expected to reach approximately 53 percent, operating income of approximately 3 million dollars and diluted EPS of approximately 10 cents.