Vera Bradley reported its fiscal fourth quarter earnings, which surpassed analysts’ expectations and almost the company’s own forecast. Vera Bradley shares jumped more than +11% on the news, during pre-market trading.
The maker of luggage, handbag and fashion accessories raked in earnings of 25 cents a share, beating analysts’ estimates of 26 cents. It also came in on the higher end of the company’s own guidance of 22-25 cents range. Net income of $8.6 million was around +1.2% higher from the year-ago quarter.
For the full fiscal year, Vera Bradley’s net income came in at 59 cents a share, exceeding analysts' estimates of 58 cents a share. The figure was also substantially greater compared to the 35-45 cents per share annual guidance that the firm provided around this time last year, according to the company.
Net sales came in at $416.1 million, compared to $454.6 million in fiscal 2018. But it managed to be at the upper end of Vera’s guidance range.
While lower clearance promotions and lower-than-expected factory channel traffic reduced Vera Bradley’s overall customer traffic for the fiscal year, the headwind was offset by solid customer count in its full-line stores and on its online store, as indicated by the company.