Tuesday, September 13, 2022
Joe Gomes, Senior Research Analyst, Noble Capital Markets, Inc.
Joshua Zoepfel, Research Associate, Noble Capital Markets, Inc.
Refer to the full report for the price target, fundamental analysis, and rating.
10-Q Filing. Last week, Vera Bradley filed the 10-Q for the fiscal second quarter of 2023 ended July 30th and we had an opportunity to review. While the big picture remains the same from the August 31st earnings release, the 10-Q does provide some additional detail regarding the quarter’s performance.
VB Direct Comparable Sales. The overall 13.8% comp sales decline included a 20.1% decrease in comparable store sales, partially offset by a 3.1% increase in e-commerce sales. Non-comp stores contributed $2.6 million of revenue. The Company permanently closed eight full-line stores and opened six factory outlet stores in the last twelve months.
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*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary. Proper due diligence is required before making any investment decision.